Cambodia Current Affairs

Union Cabinet approves creation of PDF to catalyse Indian economic presence in CLMV countries

The Union Cabinet has given its approval to create a Project Development Fund (PDF) for catalysing Indian economic presence in the CLMV countries viz. Cambodia, Laos Myanmar and Vietnam.

The PDF will have corpus of Rs 500 Crore and shall be housed in Department of Commerce. It will be operated through the EXIM Bank.

Key Facts

  • The PDF will be governed by an Inter-Ministerial Committee under the chairpersonship of the Commerce Secretary.
  • It will benefit India’s industrial community for business expansion in the CLMV countries.
  • Besides it will also help to maintain cost competitive supply chains, besides integrating with global production networks.

Background

  • CLMV countries namely Cambodia, Laos, Myanmar and Vietnam have a unique position in the regional value chains in Southeast Asia region.
  • These countries offer a gateway for market access to China, European Union and other markets due to various trade agreements.

Comment

  • Thus, creation of Project Development Fund (PDF) will give key advantage position to India in securing regional value chains on a long term basis.
  • Besides, it will provide a dedicated market for Indian raw materials and intermediate goods and also a dedicated source of raw materials for Indian industry.

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Drug-resistant malaria detected at Myanmar-India border

Scientists have detected drug-resistant malaria at the Myanmar-India border. It was revealed in a Oxford University led study published in The Lancet Infectious Diseases journal.

Tests have shown that this drug-resistant malaria is on the verge of entering India and now poses an enormous threat to global health.

These detected drug-resistant malaria parasite have ability to shrug off the effects of artemisinin (normally given as part of combination therapy to fight malaria) has been spreading since it emerged in South-east Asia.

Drug-resistant malaria has been detected in South Asian countries like Cambodia, Laos, Thailand, Vietnam and Myanmar.

In case Myanmar, 940 parasite samples were collected at 55 malaria treatment centres and its border regions. Scientist have found that almost 40 percent of the samples had mutations in their so-called kelch gene, K13 a known genetic signal of artemisinin drug resistance.

Earlier, drug-resistant malaria parasite to Chloroquine was discovered in 1957 around the border between Cambodia and Thailand.

Deaths from malaria have nearly halved since 2000, and the infection now kills about 584,000 people each year. But drug-resistant malaria parasite may threat to global health in future.

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