G7

In News: G7 aiming for $600 bn global infrastructure programme

• The G7 group announced an attempt to compete with China’s formidable Belt and Road Initiative by raising $600 billion for global infrastructure programmes in poor countries
• The Partnership for Global Infrastructure and Investment will deliver hundreds of billions of dollars and deliver quality, sustainable infrastructure that makes a difference in people’s lives around the world, strengthens and diversifies our supply chains
• The proposed G7 funding would depend largely on private companies being willing to commit to massive investments

Group of Seven (G7)

• It is an intergovernmental organisation that was formed in 1975.
• The bloc meets annually to discuss issues of common interest like global economic governance, international security and energy policy.
• The G7 countries are the UK, Canada, France, Germany, Italy, Japan and the US.
• All the G7 countries and India are a part of G20.
• The G7 does not have a formal constitution or a fixed headquarters. The decisions taken by leaders during annual summits are non-binding.

Source: Economic Times

 Indian Express

Previous Year Questions

Q.1) In which one of the following groups are all the four countries members of G2O? (2020)

1. Argentina, Mexico, South Africa and Turkey
2. Australia, Canada, Malaysia and New Zealand
3. Brazil, Iran, Saudi Arabia and Vietnam
4. Indonesia, Japan, Singapore and South Korea