Consider the following statements regarding Partnership for Global Infrastructure Investment PGII in...........

International Affairs G-20

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Consider the following statements regarding Partnership for Global Infrastructure Investment (PGII) initiative.

1.PGII is a collaborative effort by G20 countries to fund infrastructure projects in developing nations.

2.It serves as an alternative to China’s Belt and Road Initiative (BRI).

3.PGII emphasizes charity over loans, benefiting the receiving countries.

How many of the above statements is/are correct?

Only one

Only two

All three

None

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Explanation:

Only statement 2 is correct.

The PGII (Partnership for Global Infrastructure Investment) initiative (announced in 2021 during the G7 summit in the UK) is a collaborative effort by G7 countries to fund infrastructure projects in developing nations.

It serves as an alternative to China’s Belt and Road Initiative (BRI) and aims to mobilize funds for critical infrastructure development, focusing on transparency, sustainability, and gender equality.

PGII emphasizes loans over charity, benefiting both lending and receiving countries.