Build Back Better World

launched in June 2021

Build Back Better World (B3W) is an initiative undertaken by G7 countrie

Led by the United States, the G7 countries will work to address the $40 trillion worth of
infrastructure needed by developing countries by 2035. The initiative aims to catalyze funding for
quality infrastructure from the private sector and will encourage private-sector investments that
support "climate, health and health security, digital technology, and gender equity and equality". [2]
[3]
 

he initiative builds on the Blue Dot Network, a collaboration that aims to build a global network
through lending-based financing to build roads, bridges, airports, ports, power plants. [4]

The B3W efforts are in line with the standards and principles of the Blue Dot Network, relating to
the environment and climate, labor and social safeguards, financing, construction, anticorruption,
and other areas. On November 4, 2019, U.S. Under Secretary of State Keith Krach formally
launched the Blue Dot Network with his Australian and Japanese counterparts with access to
$60 billion (United States dollars) of capital from the U.S. International Development Finance
Corporation ("DFC") at the Indo-Pacific Business Forum in Bangkok. [5]

nder Secretary Krach committed $2 million (USD) of U.S. State Department seed money for the
steering committee and issued an invitation to other G7 members to join. On October 19, 2020,
on behalf of the twelve Three Seas nations, President Kersti Kaljulaid endorsed the Blue Dot
Network and the Three Seas Summit in Tallinn, Estonia.[7]

Under Secretary of State Krach wearing a Three Seas mask while signing a memorandum regarding
cooperation
Partnership in finance
The second area of potential for the UK–India partnership is finance. Mitigating
climate change will require enormous financial investments. This is much larger
than the US $100 billion annual commitment made by the Annex II countries. 

Co2
or example, one of the most ambitious technological efforts to date is
the Climeworks Orca plant that was launched in Iceland last month . The plant is
illustrative of the inadequacy of the hunt for the technology elixir. The plant can
remove 4,000 tons of CO2 a year, 
]
Partnership in higher education
The UK is a global leader in education, knowledge, innovation, and research, while
India is one of the largest consumers of higher education and is a market for research
and innovation. Higher education enrollment, for example, has tripled over the last
20 years in India but remains at just 28 percent.