U.S. President Joe Biden pledged billions in support to help build up infrastructure throughout the Western Hemisphere as he hosted leaders from the region, part of an administration push to offer an alternative to China’s efforts to expand its economic influence.
Biden said the U.S. International Development Finance Corporation and the Inter-American Development Bank, or IDB, would establish a "new investment platform to channel billions of dollars toward building sustainable infrastructure in the hemisphere,” as he met Friday with leaders at the inaugural Americas Partnership for Economic Prosperity Leaders’ Summit at the White House.
Biden, in a jab at China, cast the U.S. approach as a healthier alternative for countries seeking global investment.