Welcoming the first edition of the Alliance for Economic Prosperity in the Americas (APEP) Summit at the White House, Biden assured the United States will aid finance climate solutions such as “nation debt swaps and blue and green bonds.”

“We want to make sure that our closest neighbors know that they have a real choice between debt trap diplomacy and high-quality, transparent approaches to infrastructure and development,” the host said.

In doing so, Biden endorsed Colombian President Gustavo Petro, who made a similar proposal in several international settings.

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