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WASHINGTON – Earlier today at the G7 Leaders’ Summit, President Biden and fellow leaders officially launched the Partnership for Global Infrastructure and Investment (PGII), a values-driven, high-impact, and transparent infrastructure partnership that will meet the enormous infrastructure needs of low- and middle-income countries and support the United States’ and its allies’ economic and national security interests.

In four key sectors – health and health security, climate and energy security, digital connectivity, and gender equality and equity – the United States and like-minded nations are mobilizing hundreds of billions of dollars to deliver quality, sustainable infrastructure that makes a difference in people’s lives around the world, strengthens and diversifies our supply chains, creates new opportunities for American workers and businesses, and advances our national security through strategic investments. The United States aims to bring $200 billion forward over five years through leveraged private sector investments, federal financing through agencies like the Export-Import Bank of the United States (EXIM), and grants.

EXIM President and Chair Reta Jo Lewis issued the following statement in support of this new partnership:

“I am delighted that the leaders of the G7 have come together to launch this important effort. PGII will advance sustainable infrastructure development around the world while creating jobs here in America. EXIM stands ready to deliver support alongside our federal partners.

Today’s global financing challenges require whole-of-government solutions and partnerships with like-minded nations that share America’s commitment to high project standards, sustainability, and delivering the best goods and services available. PGII will offer developing countries a positive alternative to the kinds of infrastructure financing that sell debt traps, exploit workers, and leave recipient nations in worse conditions. It will also offer American companies and our workers new opportunities to compete and support some of the most transformative infrastructure projects around the globe.

Already, EXIM’s tools and resources have supported flagship projects announced today. EXIM fills critical gaps in financing that can help crowd in private sector investors, lower risk for project participants and sponsors, and level the playing field so that American companies can compete and win fairly based on the quality of their goods and services. I look forward to continuing EXIM’s leadership on this important initiative and working alongside my colleagues at sister agencies and export credit agencies in G7 nations.”

To read more about PGII and flagship projects announced today, please see the White House fact sheet and the Presidential Memorandum outlining these details.

ABOUT EXIM:

The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.

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