European Commission President Ursula von der Leyen announced that “European countries will mobilize $300 billion by 2027 to invest in global infrastructure”, explaining that “we are listening to developing countries benefiting from the infrastructure development program” and indicated that ” The Global Infrastructure Initiative will include investments in the green economy of Egypt and African countries.

On the sidelines of the G7 summit in Germany, Der Leyen noted that “the G7 are discussing the challenges posed by the war in Ukraine.” She also stated that “the group supports the transition to clean energy around the world.”

In turn, the President of the European Council, Charles Michel, stressed that “we support investments in global infrastructure, and the G7 is committed to its values ​​and principles.”

For his part, Canadian Prime Minister Justin Trudeau believes that “we must work together and mobilize available resources to promote sustainable development.”

Italian Prime Minister Mario Draghi also indicated that “we need more investment in the gas infrastructure of developing countries and others.”

The G-7 meetings began today at the Elmau Palace resort in the Alps in southern Germany, while the Russian-Ukrainian war and the resulting economic crisis were the main issues of the summit.

Panelists are discussing ways to contain global inflation and strengthen supply chains around the world as they seek to overcome the worsening inflationary crisis.

Participants are also expected to discuss imposing additional restrictions on Russia and reducing its financial income so that the sanctions do not lead to further price increases around the world.