Biden pitches infrastructure plan for Latin America as ‘debt trap’ alternative
- At first Americas Partnership for Economic Prosperity summit, US president seeks to counter China’s Belt and Road Initiative
- Migration, a major issue for Biden as he seeks re-election, is also a focus, with funds allocated for refugee-hosting nations
US President Joe Biden announced a new investment programme on Friday to channel “billions of dollars” to Latin American and Caribbean nations, as an alternative to China’s “debt trap” deals in the region.
The US, Biden said, wanted to make sure those nations had “a real choice between debt-trap diplomacy and high-quality transparent approaches to infrastructure and to development”.
While not naming China, Biden was seen as referring to the Belt and Road Initiative, Beijing’s global infrastructure programme which the US contends often saddles its partners with unexpected debt.
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Gateway to Asia: China builds port in Peru for faster transport of goods to and from South America
Representatives from Barbados, Canada, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Mexico, Panama, Peru and Uruguay took part in the forum.
