India-EU Current Affairs

India signs €300 million agreement with European Investment Bank for Bangalore Metro Phase II

Government has signed Finance Contract with European Investment Bank (EIB) for lending of €300 million for Bangalore Metro Rail Project Phase II Line R6.

The Phase II of metro project is jointly financed by EIB (€500 million) and Asian Infrastructure Investment Bank (€300 million). The project envisages extension of East-West & North-South lines for Bangalore Metro Rail which includes a total length of 72.095 km (13.79 km underground) and 61 stations with 12 underground stations.

Bangalore Metro Phase II

The objective of project is to bring in quantum improvement in transportation sector in city in tandem with Bangalore Metropolitan Transport Corporation (BMTC) and other modes of urban transport. It aims to ensure modern transport facility for the commuters.

The spinoffs of the project will include employment opportunities, reduction of number of vehicles on road, benefits to economy, less fuel consumption, reduction in air pollution, reduction in passenger travel time and also improvement in aesthetic value of city.

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EU, India agrees to enhance counter-terrorism cooperation

India and European Union (EU) have agreed to strengthen cooperation between their security and intelligence agencies to combat threat of terrorism and check terror financing.

Both sides deliberated extensively on combating terror financing and challenges posed by violent extremism and radicalisation during 10th India-European Union Counter Terrorism Dialogue held in New Delhi.

Key Highlights 10th Dialogue

Both sides strongly condemned terrorism in all its forms and manifestations and underscored need for deepening cooperation to combat terrorism in long term, sustained and comprehensive manner. They also exchanged views and assessments on prevailing terrorist threats in their respective regions including state-sponsored, cross-border terrorism in Afghanistan-Pakistan region.

The also held discussions regarding current challenges posed by various terrorist entities, radicalisation and violent extremism, foreign terrorist fighters and combating financing of terrorism. They agreed to strengthen institutional linkages by establishing point of contact between Indian agencies and their EU counterparts including Europol for closer interaction and cooperation in field of counter-terrorism.

Both sides also agreed to identify relevant training programmes for capacity building of individuals on both sides working in sphere of countering terrorism and violent extremism. They also emphasised prospects for deepening counter-terrorism cooperation under the UN and Financial Action Task Force (FATF). The next India-European Union Counter Terrorism Dialogue will take place in Brussels in 2018.

Financial Action Task Force (FATF)

FATF is an inter-governmental body which monitors the progress of member countries in implementing necessary measures to check money laundering and terrorist financing.

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