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Welcome to this Side Event 
on Infrastructure

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I am co-hosting with 
US President Joe Biden

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– thanks for 
your engagement, Joe.

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The G7 has set itself 
the ambition of

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making the world a better

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offer on infrastructure 
investment.

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Today, we are re-launching 
our joint work

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as “Partnership for Global
Infrastructure and Investment”.

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With our joint G7 
infrastructure initiative,

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we are building
on strong

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national and 
regional initiatives,

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such as the EU Global 
Gateway initiative

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and similar initiatives 
of other G7 members.

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Yet another example 
of our unity

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and close cooperation as G7.

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The decision to work together 
on this offer to the world

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was taken last year 
in Carbis Bay.

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Since then, we have worked hard 
and made great progress:

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We have built 
a G7 structure for

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our cooperation and launched

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concrete partnerships 
on climate and health.

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On the structure 
of our cooperation:

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We are bringing together 
our development

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finance institutions coordinate 
with multilateral banks

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and private sector,

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and setting up partnerships 
and country platforms.

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This is step change of
our cooperation,

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that we have committed to.

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We are boosting local vaccine 
production in Africa:

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Germany has contributed 
530 million Euro

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as part of a larger 
Team Europe and G7 initiative.

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We are building 
strong partnerships

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to support the global 
transition to net-zero.

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With our Just Energy 
Transition Partnerships,

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we support 
an accelerated clean

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and just transition 
of developing

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and emerging countries 
towards climate neutrality.

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The first JETP was launched 
with South Africa at COP26.

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I am happy to announce today 
that the Germany,

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via its Development Bank KfW,

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is ready to offer 
a promotional loan

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of 300 million Euro 
for energy policy reforms

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as concrete support 
for this JETP.

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This is part of 
Germany’s contribution

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to collective G7-support 
of 8.5 Billion US Dollar

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over the next 3 to 5 years.

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But we won’t stop there.

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In a joint effort 
with G7 partners

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we are currently 
working towards

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additional JETPs 
with Indonesia,

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India, Senegal 
and Vietnam.

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The public sector alone will 
not be able

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to close the huge 
investment gap

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we face in many parts 
of the world.

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This is why we are promoting 
innovative instruments

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such as the Emerging 
Markets Climate Action Fund

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in order to mobilise 
private investment

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for sustainable 
infrastructure.

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The G7 is committed 
to support EMCAF,

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and Germany is contributing 
additional 30 million Euro,

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adding to 25 million Euro 
we have provided last year.

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The Fund can mobilise up 
to 50 Euro private capital

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for every single EUR 
public money we provide.

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With our total 
contribution of 55 million

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Euroa,we can mobilize up 
to 2.75 billion Euro.

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Just like our broader 
G7 agenda,

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our work on promoting 
infrastructure globally

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is also affected by the current 
geopolitical situation.

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We have therefore 
discussed how

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our investment globally 
in climate neutral

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and low carbon energy,
including gas,

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can help us as
a temporary response to

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Russia’s use of 
energy as a weapon.

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Given the progress 
we have achieved:

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Time is ripe to showcase 
our offer to the world

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under a common roof.

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I am convinced: The G7 makes 
a stronger, better

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and more convincing offer 
to partners globally.

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But beyond steps 
we have been taking,

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this is a long term
undertaking.

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Germany will move 
this work forward

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beyond the Elmau Summit,

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to make progress towards 
an equitable world,

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and I will hand over 
an even stronger

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joint initiative to Fumio end 
of this year.

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