Biden Emphasizes 'All-In on Africa' Targeting China's Belt and Road Initiative

US Version of One Belt One Road... "72 Trillion Won Support Over 3 Years"

[Image source=UPI Yonhap News]

[Asia Economy Reporter Yujin Cho] U.S. President Joe Biden announced a massive investment plan of 72 trillion won in African countries. He also made remarks indirectly criticizing China’s Belt and Road Initiative, which has burdened African countries with a debt bomb. Following efforts in the Indo-Pacific region and the Ukraine war, the U.S. has now officially launched diplomacy to block China’s influence in Africa.

On the 15th (local time), at the African Union (AU) Agenda 2063 session of the 'U.S.-Africa Leaders Summit' held in Washington DC, President Biden officially announced, "Over the next three years, we will work closely with the U.S. Congress to advance issues of common priority by providing $55 billion (approximately 72 trillion won)."

He said, "This is a comprehensive U.S. commitment to invest in African people, infrastructure, agriculture, health, and security," adding, "We want to enhance cooperation in all areas, from rural communities to urban centers, and from cyberspace to outer space."

He emphasized, continuing from the previous day, "The United States is all-in, and then all-in again on the African continent."

Agenda 2063 of the African Union, first announced in 2013 and officially adopted in 2015, contains a blueprint to transform the African continent into a global powerhouse group over 50 years through economic development, political integration, promotion of democracy, and strengthening security.

BBC reported that this summit appears to be an attempt to block China’s involvement, which seeks to expand its influence in Africa through the Belt and Road Initiative.

Former President Donald Trump never visited the African continent, adhering to a so-called hamburger diplomacy that marginalized countries not beneficial to U.S. national interests, and he did not hesitate to make insulting remarks about African countries.

BBC analyzed that the summit is an effort to restore U.S. influence in Africa, which had waned during Trump’s administration, with the underlying motive of countering China.

President Biden stated, "In addition to U.S. investments, we will help African countries secure the funding needed to achieve sustainable and inclusive growth," and added, "We will request authority from the U.S. Congress to lend $21 billion to the International Monetary Fund (IMF) to finance low- and middle-income countries."

He said, "We will lead efforts to pursue fair agreements with global creditors to provide debt relief," explaining, "So that countries can prioritize their citizens instead of being burdened by back-breaking debt situations."

This statement implies that African countries are unable to properly invest domestically due to excessive debt burdens and is interpreted as an indirect criticism of China’s Belt and Road Initiative.

China has been criticized for trapping participating countries in debt through its massive economic zone plan connecting the Eurasian continent, the Belt and Road Initiative. It pursues a diplomatic policy that makes countries dependent on China by providing loans for infrastructure projects in Africa and other regions.

According to World Bank statistics, Chinese debt accounts for 40% of the external debt of the poorest countries, including those in Africa.

President Biden also reaffirmed commitments to secure a place for the African continent on the international stage where global challenges are discussed, including support for the inclusion of African countries in the United Nations Security Council reform and the African Union’s membership in the Group of 20 (G20).

He promised that next year he, along with the Vice President and the Secretaries of State, Defense, Treasury, and Commerce, will visit Africa. However, he did not announce specific schedules or target countries. If President Biden tours the African continent, it will be the first such visit since the Obama administration.

The Africa Leaders Summit, held in Washington DC from the 13th with the participation of leaders from 49 African countries and AU delegations, concluded on this day. This meeting was held for the first time in eight years since it was first convened in 2014 when Biden was Vice President.

This content was produced with the assistance of AI translation services.