The Quad conference in Japan has agreed to invest 50 billion in the Indo-Pacific region.
The group, which includes Japan, the United States, Australia and India, has decided to spend the money on infrastructure assistance and investment in the Indo-Pacific for five years.
Issues ranging from the Russia-Ukraine war to China were raised at a meeting held in Tokyo today. During the meeting, US President Joe Biden criticized Russian President Vladimir Putin over the Russia-Ukraine war.
Australia's new Prime Minister Anthony Albanese has called for a reduction in carbon emissions.
The Prime Minister of India Narendra Modi said that the concept of open Indo-Pacific region was encouraged through mutual cooperation.
Japanese Prime Minister Fumio Kishida has said he will always oppose any attempt to change the status quo by force in any part of the world.
The leaders said Russia's war in Ukraine had raised concerns about a similar situation in the Indo-Pacific.
The Quad is considered to be an organization formed by four countries to reduce China's growing dominance in the Indo-Pacific region. The group has consistently sought to downplay China's role.
But China has criticized the quad for working against it. At a press conference on Sunday, Chinese Foreign Minister Wang Yi said that the US strategy in the Indo-Pacific region would fail.
He also said that the peaceful development of the region would be affected by the US action.