President Joe Biden, speaking at the Hiroshima G7 Summit, while not raging for more war and sanctions to destroy nations and blow up the world, announced plans to implement the “Partnership for Global Infrastructure and Investment” (PGII) claiming the U.S. will invest $600 billion by 2027 in infrastructure investments around the world. This is the supposed U.S. counter to the Chinese Belt and Road Initiative, based primarily on private money.
The announcement, according to the State Department, included “public-private support for the Romania small modular reactor (SMR) project from the United States, Japan, Republic of Korea, and United Arab Emirates of up to $275 million, which includes a Letter of Interest from the U.S Export-Import Bank (EXIM) for up to $99 million from the EXIM Engineering Multiplier Program. In addition, EXIM and the U.S. International Development Finance Corporation (DFC) issued Letters of Interest for potential support of up to $3 billion and $1 billion, respectively, for project deployment.” The SMR will be based on the first SMR project under development in the United States at the Carbon Free Power Project in Idaho by NuScale. NuScale is also engaged in an SMR project with Indonesia.
