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G7 leaders launch infrastructure fund to counter Chinese influence

Germany's Olaf Scholz is hosting the G7 summit in Bavaria, where world leaders pledged $600 billion dollars to help low-income states build "climate resilient infrastructure." The Ukraine war is also high on the agenda.

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The EU has called the plan a "road map for investment" in the developing world. It is seen as an eventual alternative to China's "Belt and Road" global infrastructure strategy