G7 puts out statement on pursuing more private, ‘mutually beneficial’ international development

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(The Center Square) – Leading industrialized nations issued a statement on the second day of the G7 summit calling for international development partnerships to be "mutually beneficial," language that resembles themes often associated with President Donald Trump's "America First" agenda.

The statement began by recognizing the accomplishments of international development partnerships between the G7 and other countries, as well as the growth those partnerships have fostered over time, while reaffirming the group's commitment to continue “[providing] support to the most vulnerable.”

But the methods it has used, while some have proved useful, require some reforms in order to be more effective and enable greater independence for the developing countries, according to the statement.

“While traditional development policies have achieved important results, they have at times had limited impact on reducing financial dependency on external assistance, strengthening county ownership and creating pro-growth incentives,” the leaders wrote.

They continued by saying that partnerships should be “mutually beneficial” to all involved, taking “into account our strategic interests and those of our partners.” 

And while the G7 countries will continue to leverage public resources, they alone are insufficient to “meet global development needs,” they wrote.

“The success of efforts to promote development and prosperity also relies on partner countries’ ability to mobilize domestic resources and attract private capital,” the statement reads.

As an antidote to over-dependence by developing countries and slower progress, the countries will work to address escalating global debt vulnerabilities, support the investment of private capital, and promote supply chain resilience and diversification and resilient infrastructure, among other strategies.

Kenya and South Korea were explicitly named as countries that support the declaration.

So far, it appears the gathering has been fairly free of public controversy, with leaders issuing a joint statement of support for the tentative agreement between the U.S. and Iran ahead of their arrival in Evian-les-Bains, France. The U.K. and France have said that the countries stand ready to assist with American operations in the Strait of Hormuz like mine removal to get the strait fully operational again.

Trump has said that the strait is already partially reopened but will be operating like normal sometime after Friday, when the U.S. and Iran sign the deal in Switzerland. He has also said that the deal happened with a “third set” of Iranian leaders after the U.S. and Israel eliminated the first two, and that this leadership is “very smart, strong” and “less radicalized” than earlier groups.

Iranian spokesperson and Minister of Foreign Affairs Abbas Araghchi has said that any deal with the U.S. includes Israel’s withdrawal from Lebanon, where it has been fighting Hezbollah.

The American president has said that a full copy of the memorandum of understanding has not yet been released but likely will be released Friday, after it is signed. Parts of drafted versions have reportedly already been leaked.

One day remains of the summit, with Trump scheduled to participate in more working sessions with the world leaders and developing countries, as well as some press conferences with other presidents and prime ministers.