2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SAARC
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G7
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European Union
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G8
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Detailed explanation-1: -Build Back Better World (B3W) is an initiative undertaken by the G7 . Launched on June 12, 2021, it would provide an alternative to China’s Belt and Road Initiative (BRI) for infrastructure development of low- and middle-income countries.
Detailed explanation-2: -The Belt and Road Initiative is a massive China-led infrastructure project that aims to stretch around the globe. Some analysts see the project as a disturbing expansion of Chinese power, and the United States has struggled to offer a competing vision.
Detailed explanation-3: -FACT SHEET: President Biden and G7 Leaders Launch Build Back Better World (B3W) Partnership. Home.
Detailed explanation-4: -Considered a counterbalance to China’s Belt and Road Initiative, the G7 countries recently launched the Build Back Better World (B3W) initiative, as an alternative channel for aiding lower income countries with infrastructure development.
Detailed explanation-5: -The guiding principles of B3W include value-driven high standards, transparency, climate-compatible projects, private sector investment, and a commitment to multilateralism.