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What is the News?
The Ministry of External Affairs has launched a platform called the Trilateral Development Corporation(TDC) Fund.
What is the Trilateral Development Corporation(TDC) Fund?
Launched by: Ministry of External Affairs
Aim: To provide an alternative to the Chinese development partnership model that has pushed parts of the developing world into a debt trap.
The fund would involve private sectors with state support for big-ticket investments in the Indo-Pacific region as well as other geographies.
India’s Global Innovation Partnership(GIP) launched with the UK will provide a template to use the TDC Fund for trilateral projects with other countries like Japan, Germany, France and the EU.
Moreover, India’s contribution to GIP will be channelised through the TDC Fund.
Source: This post is based on the article “To counter China’s BRI, MEA launches growth model” published in Economic Times on 25th April 2022.
