Build Back Better World (B3W)_00.1
UPSC Exam   »   How to Prepare for UPSC CSE Mains Examination: Step-by-Step Guide for Beginners   »   Build Back Better World (B3W)

Build Back Better World (B3W)

 

Relevance

  • GS 2: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

 

Context

  • Recently, US officials have decided to tour Latin America to scout infrastructure projects, through an initiative named Build Back Better World.

 

India-US Clean Energy Agenda 2030 Partnership

 

Key points

  • The group has been tasked with turning Build Back Better World (B3W) into reality.
  • The program is focused on areas including climate, health, digital technology and gender equality.
  • A formal US B3W launch event is planned for early next year that will include details of some initial projects aimed at narrowing the $40 trillion needed by developing nations by 2035.
  • It is not yet decided how much capital the program will ultimately allocate.

 

Build Back Better World (B3W)_50.1

 

About Build Back Better World initiative

  • It is an international infrastructure investment initiative announced in June 2021 by the G7 countries—Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
  • It is a values-driven, market-led, high-standard, and transparent infrastructure partnership to help narrow the $40+ trillion infrastructure gap in the developing world by 2035.
  • It aims to mobilize bilateral and multilateral as well as private-sector capital for investment in climate, health and health security, modernized digital technology, gender equity, and equality.
  • The B3W is intended to be global in scope and to cover low- and middle-income countries.
  • The B3W is an elaboration of the Blue Dot Network (BDN) in which the US joined forces with Japan and Australia while remaining open to other partners’ participation.
  • The B3W has brought together the G7 countries and also has extended invitations to join to other democracies, including India, Australia, South Korea.

 

India-Australia 2+2 Meeting

 

B3W and BRI: Rival or complementary?

  • Although the B3W does not explicitly refer to the BRI, many experts believes that the new US-led initiative is intended to be an alternative grand infrastructure plan for developing nations to that of China’s Belt and Road Initiative (BRI).
  • The BRI comprises a framework of economic and trade relations between China and dozens of countries.
  • It targets new export markets abroad, aims to guarantee Beijing’s energy security, and seeks to enhance cross-continental connectivity and foster integration between China and Europe.
  • Like the BRI, the B3W aims to forge cross-national and regional cooperation between the countries involved while facilitating large-scale projects in the developing world.
  • However, the B3W has yet to evolve from the vision into a concrete plan.
  • Even when B3W comes into reality, the aims of both the initiatives are different.
  • China’s BRI is primarily focused on traditional hard infrastructure: ports, roads, dams, railways, electric power plants, and telecommunication facilities.
  • In comparison, the B3W focuses on “softer” outcomes, namely improvements in climate, health and health security, modernized digital technology, and gender equity and equality.

 

 

Sharing is caring!

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.

Was this page helpful?

Leave a comment

Your email address will not be published. Required fields are marked *

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Change Password



Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?