In the background of the 74th session of the United Nations General Assembly, the Prime Minister of India unveiled a substantial contribution to the group of Pacific island nations. A line of credit amounting to $150 million has been put forth for the support of solar energy, renewable energy, and climate-related initiatives.
An Invitation to Join the Coalition for Disaster Resilient Infrastructure
The Prime Minister, extending further collaboration, asked the leaders of the Pacific Small Island Developing States (PSIDS) to be part of the Coalition for Disaster Resilient Infrastructure (CDRI). The CDRI functions as a multi-stakeholder global partnership led by India, aiming to promote resilience against disasters among infrastructure systems.
Indian Technical & Economic Cooperation Programme Initiated
In order to stimulate capacity building through developmental assistance, the Prime Minister proposed to set in motion specialized courses as per the identified priority areas of partner countries. These courses fall under the scope of the Indian Technical & Economic Cooperation Programme (ITEC).
Introduction of Jaipur Foot Artificial Limb Fitment Camp in Pacific Regional Hub
Shifting focus to health sector, the Prime Minister presented an initiative to set up a Jaipur Foot Artificial Limb Fitment Camp in a Pacific regional hub. This falls under the ‘India for Humanity’ programme.
About the ‘India for Humanity’ Initiative
The ‘India for Humanity’ initiative took shape in 2018, as a tribute to Mahatma Gandhi’s 150th Birth Anniversary celebrations. Launched by India’s Ministry of External Affairs, it commemorates Gandhiji’s service to humanity. The initiative stands out for its year-long series of artificial limb fitment camps held in various countries across the globe.
The Relation Between India and PSIDS
With the advancement of India’s Act East Policy, the relationship with Pacific Island nations has strengthened over the years. This bonding led to the establishment of an action-driven multinational group named Forum for India-Pacific Island Cooperation (FIPIC) in 2014.
| Country |
|---|
| The Cook Islands |
| Federated States of Micronesia |
| Fiji |
| Kiribati |
| Nauru |
| Niue |
| Palau |
| Papua New Guinea |
| Marshall Islands |
| Samoa |
| Solomon Islands |
| Tonga |
| Tuvalu |
| Vanuatu |
Understanding Line of Credit
A line of credit is a financial arrangement provided by a bank or other financial institutions to a government, business, or an individual. The customer can withdraw the maximum loan amount from the line of credit anytime, given that they do not exceed the maximum amount and adhere to other conditions such as making timely minimum payments.
Last Modified: February 6, 2024