International Current Affairs

Latest International Current Affairs 2019 with news summaries and current events in International developments, geopolitical, organizations, groupings and fora related updates for India and world with all important national news updates and events for the year 2019.

GoI extends Line of Credit worth 18 million USD to Maldives

The Government of India has extended Line of Credit of worth 18 million USD to Maldives to expand fishing facilities at Maldives Industrial Fisheries Company (MIFCO).

Highlights

The funds granted to Maldives are to be used for the following

  • To develop 50-tonne ice plant in Gemanafushi. Also, a 100-tonne ice storage facility is to be developed
  • The funds will be used to set up tuna cooked plant and fishmeal plant
  • Investments towards fish collection

The above projects will help Maldives to increase fish collection and storage capacity. It will help the country acquire new markets in the fisheries sector.

India-Maldives

Maldives is important to India for its strategic location. In Indian Ocean, Maldives archipelago comprises of 1,200 coral islands. They lie next to the shipping lanes that ensure uninterrupted energy supplies to India, China and Japan.

Maldives is important to India for the following reasons

  • International Geopolitics: The significance of Maldives has grown since China began to send its ships to Indian Ocean 10 years ago. China sends its ships right up to Gulf of Aden in the name of antipiracy operations.
  • Regional Security: India needs to cooperate with Maldives as the former is a pre-eminent South Asian power and a net security provider in the Indian Ocean Region.
  • Maldives supports India at the United Nations Security Council.
  • There are more than 25,000 Indian nationals living in Maldives. Indian tourists account to 6% of Maldives tourism.

Bilateral Assistance

India has offered assistance to Maldives whenever required. India was the first to provide with relief when Maldives was badly hit by Tsunami. Also, GoI has launched several operations as in need to help save Maldives.

Operation Cactus

India launched Operation Cactus in 1984 and saved Maldives from a coup.

Operation Neer

This operation was launched by the Indian Government to help save Maldives from major fire that broke out in a Male Water and Sewerage company.

India contributes 15 million USD to India-UN Development Partnership Fund

On August 5, 2020, India contributed 15.46 million USD to the India-UN Development Partnership Fund.

Highlights

India has contributed the funds to the United Nations Office for South-south Cooperation (UNOSSC) as a permanent representative of the UN. Of this, 9.46 million USD has been dedicated to the Commonwealth countries and 6 million USD to the overall fund.

India-UN Development Partnership Fund

The fund is managed by UNOSSC. It was established in 2017. The Fund supports developing countries in achieving their 2030 Agenda of Sustainable Development. Currently, there are 36 projects being implemented in 37 countries with the help of the fund.

The fund mainly focuses on the development of Least Developed Countries, Landlocked Developing Countries and small Island Developing States.

So far, India has contributed 41.8 million USD towards the fund. India has committed 150 million USD towards the funds in the next decade.

First Project of the Fund

The first project under the India-UN Development Partnership Fund focussed on increase in resilence to natural disasters in six Pacific Island nations. They are Kirbati, Cook Islands, Marshall Islands, Nauru, Micronesia, Solomon Islands. It also included Kingdom of Tonga.

UNOSSC

The UNOSSC is hosted by the United Nations Development Programme (UNDP). It was established in 1974 by the United Nations General Assembly. It promotes, coordinates and supports South-South cooperation globally and also within United Nations.

South-South Cooperation

The South-South Cooperation is the technical cooperation among developing countries. There are other terms of cooperation in the UN. They are as follows

North-South Cooperation

The North-South Cooperation is the social, economic and political cooperation between a developed and a developing country. The terms north and south are being used as most of the countries in the northern hemisphere are developed and those in the southern hemisphere are developing.

Triangular Cooperation

The Triangular cooperation involves three actors such as one from the north and two from the south.