Munich Security Conference boosts trans-Atlantic ties for Germany in a crisis

What is the News?

India’s External Affairs Minister has addressed the Munich Security Conference, 2022.

What is the Munich Security Conference?

It is an annual conference on international security that takes place in Munich, Germany.

Started by: It was started in 1963 by Ewald-Heinrich von Kleist-Schmenzin.

Motto: Peace through dialogue.

Significance: It is the world’s largest gathering of its kind.

The conference also publishes the Munich Security Report, an annual report of relevant figures, maps, and research on crucial security challenges.

Note: This year’s conference is happening at a time when Russia appears to be preparing for a military incursion into Ukraine, a nation on Europe’s eastern edge.

What are the key highlights from India’s External Affairs Minister address at Munich Security Conference?

The External Affairs Minister(EAM) said that countries seeking loans should worry about unsustainable infrastructure projects such as airports and ports that are empty. The comment hinted at China’s debt-trap diplomacy.

What is Debt Trap Diplomacy?

This type of diplomacy refers to offering projects/loans on terms that end up being too difficult for countries to repay, eventually compelling them to accept political or economic concessions. 

For example, Sri Lanka took loans from China to build the Hambantota Port and the Mattala airport, which the island nation struggled to pay back. Sri Lanka was eventually forced to hand over the port on a 99-year lease to a Chinese company.

Source: This post is based on the article “Munich Security Conference boosts trans-Atlantic ties for Germany in a crisis” published in DW on 23rd February 2022.