Blue Dot Network
The Blue Dot Network (BDN) is a joint project of the United States, Japan, and Australia that supports investment in high-quality infrastructure projects around the world. The BDN works to raise money from investors by certifying projects to strict quality standards.[1][2][3]
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| Formation | November 4, 2019 |
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| Purpose | Provide assessment and certification of infrastructure development projects |
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Region served | Americas, Asia, Europe, Oceania |
| Website | Blue Dot Network |
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| This article is part of a series on the |
| Politics of the United States |
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It was founded in 2019 with $60 billion in initial funding. In 2021, the success of the program influenced the adoption of the Build Back Better World (B3W) initiative by the Group of Seven (G7) nations.
Founding
On 4 November 2019, U.S Under Secretary of State Keith Krach formally launched the Blue Dot Network with his Australia and Japan counterparts at the Indo-Pacific Business Forum (IPBF) in Bangkok, Thailand on the sidelines of the 35th ASEAN Summit. It was led by the U.S. International Development Finance Corporation, Japan Bank for International Cooperation, and Department of Foreign Affairs and Trade of Australia.
Krach made three major related announcements in energy, infrastructure and digital initiatives which consisted of a new multilateral infrastructure initiative unveiled by the U.S., the signing of a $10 billion agreement strengthening the Japan-U.S. Strategic Energy Partnership; and the plan to spur digitally driven economic growth economic in the Indo-Pacific. In all three economic pillars, Under Secretary Krach engaged in US-ASEAN Business Council and U.S. Chamber of Commerce by implementing advanced U.S. efforts in establishing a set of global trust standards.[4]
History
On 4 November 2019, U.S Under Secretary of State Keith Krach formally launched the Blue Dot Network with his Australia and Japan counterparts with access to $60 billion of capital from the DFC at the Indo-Pacific Business Forum.[2]
On 29 January 2020, Blue Dot Network's steering committee holds its first meeting in Washington with US, Australia and Japan. Under Secretary Krach commits $2 million of U.S State Department seed money for the steering committee and issues a public invitation to all other G-7 members to come on board.[5]
On 25 February 2020, the Blue Dot Network is incorporated in the India-U.S. Comprehensive Global Strategic Partnership Joint Statement.[6]
On 20 November 2020, Taiwan joins the Blue Dot Network with the signing of the U.S.-Taiwan Economic Prosperity Partnership (EPP) between Taiwan Minister John Deng and Under Secretary of State Keith Krach at the EPP Dialogue's inaugural meeting in Washington.[7]
On 19 October 2020, on behalf of the Twelve Three Seas nations, President Kersti Kaljulaid endorses the Blue Dot Network and the Clean Network at the Three Seas Summit in Tallinn, Estonia. U.S. Under Secretary of State Krach commits a $1 billion investment with the initial investment of $300 million in trusted clean infrastructure, as described in the Blue Dot standards for roads, bridges, railways, 5G, ports, and energy projects in the Three Seas region between the Baltic, Adriatic, and Black seas. The goal is to stimulate investments by each member country.[8]
On 14 January 2021, Georgia adopts the Blue Dot Network as part of joining the Clean Network Alliance of Democracies at the signing ceremony between Georgian Minister of Economy and Sustainable Development Natia Turnava and US Under Secretary of State Keith Krach.[9][10]
On 7 June 2021, the OECD commits to supporting the Blue Dot Network at meeting of the Executive Consultation Group in Paris, France.[11]
On 12 June 2021, the Group of Seven (G7) announced the adoption of the Build Back Better World (B3W) initiative built off the progress and principles of the Blue Dot Network to counter China's BRI.[12][13] The EU lauched a similar project called Global Gateway, investing €300 billion.[14]
See also
References
- Jagannath Panda (31 July 2020). "Shinzo Abe's infrastructure diplomacy". asiatimes.com. Asia Times. Archived from the original on 23 August 2020. Retrieved 19 August 2020.
- "Explained: What is the Blue Dot network, on the table during Trump visit to India". Indian Express. 26 February 2020. Archived from the original on 26 February 2020. Retrieved 28 February 2020.
- Kuo, Mercy A. (7 April 2020). "Blue Dot Network: The Belt and Road Alternative". The Diplomat. Archived from the original on 14 April 2020. Retrieved 9 May 2020.
- "Under Secretary Krach Advances Global Economic Security at Indo-Pacific Business Forum". U.S. Mission to ASEAN. 12 November 2019. Archived from the original on 30 December 2021. Retrieved 2 July 2021.
This article incorporates text from this source, which is in the public domain. - "US-Led Initiative Aims to Make Mark on Global Infrastructure Development | Voice of America - English".
- "Joint Statement: Vision and Principles for India-U.S. Comprehensive Global Strategic Partnership".
- "Fact Sheet to be Released by AIT and TECRO on U.S.-Taiwan Economic Prosperity Partnership Dialogue". 21 November 2020.
- "US commits $1 billion dollars to develop Central European infrastructure". 15 February 2020.
- "Under Secretary Keith Krach Remarks on U.S.-Georgia 5G MOU".
- "Economy Minister: US-Georgia relations to be at high level".
- "Inaugural Meeting of the Blue Dot Network's Executive Consultation Group, 7 June 2021 - OECD".
- "Asian Countries Welcome G7's Answer to China's One Belt, One Road Program".
- "FACT SHEET: President Biden and G7 Leaders Launch Build Back Better World (B3W) Partnership". 12 June 2021.
- "EU to launch Global Gateway projects, challenging China's Belt and Road". Politico.