President Joe Biden and his allies on Saturday announced plans to build a rail and shipping corridor linking India with the Middle East and Europe, an ambitious project aimed at fostering economic growth and political cooperation.
The corridor, outlined at the annual Group of 20 summit of the world’s top economies, would help boost trade, deliver energy resources and improve digital connectivity. It would include India, Saudi Arabia, the United Arab Emirates, Jordan, Israel and the European Union, said Jake Sullivan, Biden’s national security adviser.
The White House gave no details on the project’s cost or financing, though Saudi Arabia’s Crown Prince Mohammed bin Salman mentioned a figure of $20 billion during the announcement. It was unclear if that sum applied solely to the Saudi commitment. Speaking of the African project, Biden called it a “game changing regional investment” and said “both of these are huge, huge steps forward.”Amos Hochstein, Biden’s coordinator for global infrastructure and energy security, laid out a rough timeline for the project over the next year.
“The participants in this effort are focused on practical outcomes that deliver for their people,” Sullivan said. “And a corridor of this kind by dint of geography works best having Israel in as opposed to out and the countries participating prioritized that.”
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