Miscellanous Quiz: Organization & Bodies – II |9 Apr, 2021

Multiphase Programmatic Approach (MPA) of World Bank allows countries the flexibility to implement an approach to achieve development objectives in stages when:

• the development challenge is complex;
• it would take a longer time to achieve the objectives;

• it would take a longer time to prepare one large project;
• the solution needs a broader and comprehensive approach;
• when a stop-and-go approach is not feasible.

Projects under an MPA program may be financed by Investment Project Financing; or Program-for-Results financing, or their combination.

Source: https://www.worldbank.org/en/projects-operations/products-and-services#MPA

Three types of loans were created under the new Poverty Reduction and Growth Trust (PRGT) as part of this broader reform: the Extended Credit Facility, the Rapid Credit Facility and the Standby Credit Facility.

• The Extended Credit Facility (ECF) provides financial assistance to countries with protracted balance of payments problems. The ECF succeeds the Poverty Reduction and Growth Facility (PRGF) as the Fund’s main tool for providing medium-term support LICs, with higher levels of access, more concessional financing terms, more flexible program design features, as well as streamlined and more focused conditionality.
• The Rapid Credit Facility (RCF) provides rapid financial assistance with limited conditionality to low-income countries (LICs) facing an urgent balance of payments need. The RCF streamlines the Fund’s emergency assistance, provides significantly higher levels of concessionality, can be used flexibly in a wide range of circumstances, and places greater emphasis on the country’s poverty reduction and growth objectives.
• The Standby Credit Facility (SCF) provides financial assistance to low-income countries (LICs) with short-term balance of payments needs. It provides support under a wide range of circumstances, allows for high access, carries a low interest rate, can be used on a precautionary basis, and places emphasis on countries’ poverty reduction and growth objectives.

Program-for-Results of World Bank links disbursement of funds directly to the delivery of defined results, helping countries improve the design and implementation of their own development programs and achieve lasting results by strengthening institutions and building capacity.

Source: https://www.imf.org/external/about/lending & https://www.worldbank.org/en/projects-operations/products-and-services

The World Bank Group launched its Action Plan on Climate Change Adaptation and Resilience.

• Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25.
• This financing level—an average of $10 billion a year—is more than double what was achieved during FY15-18.
• The World Bank Group will also pilot new approaches to increasing private finance for adaptation and resilience.

Source: https://www.worldbank.org/en/news/press-release/2019/01/15/world-bank-group-announces-50-billion-over-five-years-for-climate-adaptation-and-resilience

Quotas are the IMF’s main source of financing. Each member of the IMF is assigned a quota, based broadly on its relative position in the world economy.

The New Arrangements to Borrow (NAB) constitutes a second line of defense to supplement IMF resources to forestall or cope with an impairment of the international monetary system.

Bilateral Borrowing Agreements serve as a third line of defense after quotas and the NAB.

Source: https://www.imf.org/en/About/Factsheets/Where-the-IMF-Gets-Its-Money 

The CZA is a statutory body under the Ministry of Environment, Forest and Climate Change.

• It was constituted in 1992 under the Wildlife (Protection) Act, 1972.
• It is chaired by the Environment Minister and has 10 members and a member-secretary.
• The main objective of the authority is to complement and strengthen the national effort in conservation of rich biodiversity.

Source: http://www.cza.nic.in/

The Animal Welfare Board of India is a statutory advisory body on Animal Welfare Laws and promotes animal welfare in the country.

• Established in 1962 under Section 4 of the Prevention of Cruelty to Animals Act, 1960 (No. 59 of 1960), the Animal Welfare Board of India was started under the stewardship of Late Smt. Rukmini Devi Arundale, well known humanitarian.
• From ensuring that animal welfare laws in the country are diligently followed, to provide grants to Animal Welfare Organizations and advising the Government of India on animal welfare issues, the Board has been the face of the animal welfare movement in the country for the last 50 years.

Source: http://www.awbi.in/about.html

Many of us have an in-built desire for a better quality of life. This means accessible physical, digital, commercial, medical, educational and other social infrastructure.

• AIIB, its members and clients, work together to finance infrastructure development—turning aspirations into reality.
• What our clients build and how and where their investments are built will evolve as infrastructure technologies advance and as people, the economy and the world change.

• The way people live, move and work and the way markets develop will shape the Infrastructure for Tomorrow (I4T).

I4T reflects AIIB’s firm commitment to sustainability:

• Environmentally: Addresses ecological impacts like water and air quality, biodiversity, pollution and climate change.
• Financially and economically: Projects with sound return on investment that raise economic growth and increase productivity.
• Socially: Gives inclusive access, particularly to citizens excluded from access to infrastructure services.

Source: https://www.aiib.org/en/about-aiib/who-we-are/infrastructure-for-tomorrow/overview/index.html

The SCO comprises eight member states, namely the Republic of India, the Republic of Kazakhstan, the People’s Republic of China, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan;

• The SCO counts four observer states, namely the Islamic Republic of Afghanistan, the Republic of Belarus, the Islamic Republic of Iran and Mongolia;
• The SCO has six dialogue partners, namely the Republic of Azerbaijan, the Republic of Armenia, the Kingdom of Cambodia, the Federal Democratic Republic of Nepal, the Republic of Turkey, and the Democratic Socialist Republic of Sri Lanka.

Source: http://eng.sectsco.org/about_sco/

The commission is a multi-member body consisting of a chairperson and five members.

• The chairperson should be a retired chief justice of India or a judge of the Supreme Court and members should be a serving or retired judge of the Supreme Court, a serving or retired chief justice of a high court and three persons (out of which at least one should be a woman) having knowledge or practical experience with respect to human rights.
• The chairperson and members are appointed by the president on the recommendations of a six-member committee consisting of the prime minister as its head, the Speaker of the Lok Sabha, the Deputy Chairman of the Rajya Sabha, leaders of the Opposition in both the Houses of Parliament and the Central home minister.

Source: Laxmikanth

The Central Vigilance Commission (CVC) is the main agency for preventing corruption in the Central government. It was established in 1964 by an executive resolution of the Central government. Its establishment was recommended by the Santhanam Committee on Prevention of Corruption1 (1962–64).

Source: Laxmikanth