President Biden has cash for the World Bank and promises sustained U.S engagement.

Biden's strategy includes reform proposals for the World Bank and increased funding for climate and infrastructure in developing nations, potentially unlocking billions of dollars for grants and loans.

China's Belt and Road initiative has made substantial investments in developing countries but has also led to mounting debt burdens.

The IMF forecasts faster GDP growth in East Asia, Central Asia, and parts of Africa compared to the US and the global average, but these regions face challenges like climate change, aging infrastructure, the COVID-19 pandemic, rising inflation, and high U.S interest rates.

President Biden's World Bank reform proposal aims to address these issues without countering China directly.

The United States is actively seeking $3.3 billion from Congress and $600 billion by 2027 from close allies for the Partnership for Global Infrastructure and Investment.

President Biden arrives at the G20 meeting in India with a bold offer for the global South, focusing on reforming the World Bank and increasing funding for climate and infrastructure.

U.S. President Joe Biden is offering support to the global South as a counter to China's Belt and Road initiative.

His strategy involves World Bank reform and increased funding for climate and infrastructure aid in developing nations.

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