S Jaishankar Current Affairs - 2020

European Union: 750 billion Euros announced as COVID-19 Recovery Fund

On May 27, 2020 the European Union proposed 750 billion Euros as COVID-19 recovery fund. The fund is to be used by the countries to recover from deep recession caused by the COVID-19.

Highlights

The European Union has broken the deficit limit to keep jobs, health care systems and businesses alive in its member countries. France and Germany had earlier agreed to provide 543 billion USD fund to add cash to the financial measures of the bloc.

The European Union is to implement the blueprint that are in several ways similar to that of the Franco-German model.

India’s stand

India supports the Franco-German model greatly. Around 25 nations including India discussed ways to contain virus involving key international organization. The alliance was led by France and Germany and the model is an outcome of the meet of 25 nations that was held through video conferencing in April 2020.

India was represented by the External Affairs Minister Shri Jaishankar.

Franco-German Model

The model aims to pull in world organizations in the fight against COVID-19. The model also aims to strengthen the UN and especially under financed World Health Organization (WHO) to develop and distribute tests and vaccines

India attends 7 nation meeting initiated by USA

On May 13, 2020, the External Affairs ministers represented India at the 7 nation meeting initiated by the United States.

Taiwan

The meeting was held on the same day, the US Senate passed an act directing the Secretary of the State to frame a strategy to make Taiwan an observer at the World Health Organization.

The meeting was held to gain support from the participating nations. It includes Australia, India, Brazil, Japan, Israel and Republic of Korea.

Why is the meet significant to India?

India is to hold the chair of the World Health Organization in May 2020 after Japan completes its tenure. India will continue to hold the chair for the next three years. This comes during the time when there are world wide criticisms faced by WHO. Especially the US, one of India’s primary trading partner, accused WHO being China-centric. It is to be noted that US has also cut the funds allocated to the WHO.

Analysis

Experts believe that India has been caught in the spat between China and US. Currently Taiwan is ruled by the Republic of China (ROC). However, China claims Taiwan to be its part under its “One China Principle”. Taiwanese on the other hand want a separate land. It is to be noted that US and Taiwan have good economic and defence relations.