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The Blue Dot Network (BDN) is a multi-stakeholder initiative formed by the
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
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.
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.
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.
On 7 June 2021, the OECD commits to supporting the Blue Dot Network at meeting of the Executive Consultation Group in Paris, France.
On 12 June 2021, the Group of Seven (G7) announced the adoption of the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
, Japan
Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...
, and Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
to provide assessment and certification of infrastructure development projects worldwide on measures of financial transparency, environmental sustainability, and impact on economic development, with the goal of mobilizing private capital to invest abroad.
It was initially led by the U.S. International Development Finance Corporation (DFC), Japan Bank for International Cooperation, and Department of Foreign Affairs and Trade of Australia.
In June 2021, the Group of Seven (G7) announced the adoption of the Build Back Better World
Build Back Better World (B3W) is an initiative undertaken by the G7. Launched on June 12, 2021, it would provide an alternative to China's Belt and Road Initiative (BRI) for infrastructure development of low- and middle-income countries.
The in ...
(B3W) initiative to counter China's BRI. Thereafter, the Blue Dot Network was co-opted into the B3W initiative.
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
ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, militar ...
Summit. It was led by the U.S. International Development Finance Corporation
The United States International Development Finance Corporation (DFC) is a development finance institution and agency of the United States federal government. DFC invests in development projects primarily in lower and middle-income countries. Fi ...
, Japan Bank for International Cooperation
The , JBIC, is a Japanese public financial institution and export credit agency that was created on October 1, 1999, through the merger of the Japan Export-Import Bank (JEXIM) and the Overseas Economic Cooperation Fund (OECF).
JBIC became the in ...
, and Department of Foreign Affairs and Trade
The Department of Foreign Affairs and Trade (DFAT) is the department of the Australian federal government responsible for foreign policy and relations, international aid (using the branding Australian Aid), consular services and trade and inv ...
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.
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. 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. On 25 February 2020, the Blue Dot Network is incorporated in the India-U.S. Comprehensive Global Strategic Partnership Joint Statement.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.
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.
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.
On 7 June 2021, the OECD commits to supporting the Blue Dot Network at meeting of the Executive Consultation Group in Paris, France.
On 12 June 2021, the Group of Seven (G7) announced the adoption of the Build Back Better World
Build Back Better World (B3W) is an initiative undertaken by the G7. Launched on June 12, 2021, it would provide an alternative to China's Belt and Road Initiative (BRI) for infrastructure development of low- and middle-income countries.
The in ...
(B3W) initiative built off the progress and principles of the Blue Dot Network to counter China's BRI.
See also
*Transport in Australia
There are many forms of transport in Australia. Australia is highly dependent on road transport. There are more than 300 airports with paved runways. Passenger rail transport includes widespread commuter networks in the major capital cities wit ...
* Transport in Japan
Transportation in Japan is modern and highly developed. Japan's transport sector stands out for its energy efficiency: it uses less energy per person compared to other countries, thanks to a high share of rail transport and low overall travel ...
* Transport in the United States
* Quadrilateral Security Dialogue
The Quadrilateral Security Dialogue (QSD), commonly known as the Quad, is a strategic security dialogue between Australia, India, Japan and the United States that is maintained by talks between member countries. The dialogue was initiated in ...
* The Clean Network The Clean Network was a U.S. government-led, bi-partisan effort announced by then U.S. Secretary of State Mike Pompeo in August 2020 to address what it describes as "the long-term threat to data privacy, security, human rights and principled collabo ...
* Build Back Better World
Build Back Better World (B3W) is an initiative undertaken by the G7. Launched on June 12, 2021, it would provide an alternative to China's Belt and Road Initiative (BRI) for infrastructure development of low- and middle-income countries.
The in ...
*Equator Principles
The Equator Principles is a risk management framework adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. It is primarily intended to provide a minimum standard for due dili ...
References
Infrastructure in Asia Foreign direct investment Geopolitical rivalry {{int-org-stub