Dear Friends,<\/p>\n
This post is a part of our current affairs series for the UPSC IAS Prelims 2022. In this post, we have covered all of the Current affairs linked to Important international organizations, groupings, and initiatives from Nov. 2021 to\u00a0 March 2022<\/strong>. In the 2nd part, we will cover the rest of the current affairs of the period July 2021 to 31st April 2022.<\/p>\n <\/p>\n To Read Other Current Affairs Compilations<\/strong>\u00a0for UPSC Prelims 2022\u2013\u00a0Click here<\/a><\/p>\n News: <\/strong>A meeting of foreign ministers from the Organisation of Islamic Cooperation (OIC<\/strong><\/a>)<\/strong> has agreed to establish a Humanitarian Trust Fund for Afghanistan.<\/p>\n About the Humanitarian Trust Fund for Afghanistan<\/strong><\/p>\n The fund will be set up under the Islamic Development Bank<\/strong> to channel aid to Afghanistan in coordination with other groups.<\/p>\n Aim:<\/strong> To address the growing economic crisis in Afghanistan, which has left millions facing hunger over the winter.<\/p>\n Significance:<\/strong> This fund is crucial, as allowing Afghanistan access to financial resources would be pivotal to preventing economic collapse.<\/p>\n About Islamic Development Bank<\/strong><\/p>\n It is a multilateral development finance institution that is focused on Islamic finance. It is located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.<\/p>\n About Organisaion of Islamic Cooperation<\/strong><\/p>\n It is the second-largest intergovernmental organization after the United Nations.<\/p>\n Established<\/strong>: 1969<\/p>\n Aim<\/strong>: To safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony among various people of the world.<\/p>\n Members<\/strong>: 57 states.<\/p>\n Headquarters<\/strong>: Jeddah, Saudi Arabia<\/p>\n India is not a member of the OIC.<\/strong> However, India was invited as a guest of honor at the 46th Session of the Council of Foreign Ministers in 2019.<\/p>\n News:<\/strong> India has hosted the third edition of the India-Central Asia Dialogue in New Delhi.<\/p>\n About India-Central Asia Dialogue<\/strong><\/p>\n It is a ministerial-level dialogue between India and the Central Asian countries namely Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.<\/p>\n All the countries participating in the dialogue, except for Turkmenistan, <\/strong>are also members of the Shanghai Cooperation Organisation<\/strong><\/a>.<\/p>\n The dialogue focuses on several issues, including ways to improve connectivity and stabilise Afghanistan.<\/strong><\/p>\n About Shanghai Cooperation Organisation<\/strong><\/p>\n It is a permanent intergovernmental international organization that aims at Strengthening mutual trust and neighborliness among the member states. It was preceded by the\u00a0Shanghai Five mechanism<\/strong> that comprised of Kazakhstan, China, Kyrgyzstan, Russia, and Tajikistan.<\/strong><\/p>\n Uzbekistan<\/strong> joined the organisation in 2001, following this the Shanghai Five was renamed the Shanghai Cooperation Organisation (SCO).<\/p>\n India and Pakistan became members<\/strong> in 2017.<\/p>\n News<\/strong>: India and the United States have launched a programme titled \u201cTechnology-based Energy Solutions: Innovations for Net Zero\u201d.<\/p>\n About the Program<\/strong><\/p>\n Source: PIB<\/p>\n It has been launched by United States-India Science & Technology(S&T) Endowment Fund (USISTEF)<\/a> in partnership with Social Alpha, a non-profit organization promoting S&T entrepreneurship.<\/p>\n Objective:<\/strong> To encourage out-of-the-box, innovative ideas from the community to address the goal of getting to net-zero.<\/p>\n Focus Areas: <\/strong>The program would support project proposals that address the climate and clean energy challenges in the following focus areas:<\/p>\n Funding and Award<\/strong><\/p>\n Ignition Stage I:<\/strong> To help teams proposing early-stage creative ideas develop a proof-of-concept and\/or build a prototype (up to INR 50,00,000\/- or approx. $66,000\/- up to 12 months)<\/p>\n Ignition Stage II:<\/strong> To support teams with a workable, validated prototype. The technology must have significant potential to commercialize within 2-3 years (INR 1.5 Crore or approx. $203,560\/- up to 24 months).<\/p>\n News<\/strong>: The European Commission has announced an international infrastructure plan called the \u201cGlobal Gateway Plan\u201d.<\/p>\n About the Global Gateway Plan<\/strong><\/p>\n Source: Tip<\/p>\n The plan aims to invest \u20ac300 billion ($340 billion) globally in infrastructure, digital and climate projects by 2027.<\/strong> This will help strengthen health, education, and research systems across the world.<\/p>\n The investment will be made in projects that can be delivered with high standards, good governance, and transparency while ensuring financial sustainability at the same time.<\/p>\n Implementation of the Global Gateway Plan<\/strong><\/p>\n The Plan will be implemented in a Team Europe approach that brings together funding from the EU, its Member States and European financial institutions.<\/p>\n The plan will require buy-ins from international institutions and the private sector.<\/p>\n Significance of the Global Gateway Plan<\/strong><\/p>\n Firstly,<\/strong> the Plan is considered an offshoot of the Build Back Better World (B3W) Initiative.<\/a><\/p>\n Secondly,<\/strong> the plan is being seen as a European effort to challenge China\u2019s Belt and Road Initiative <\/a>which was launched in 2013 and funds infrastructure projects in the developing world.<\/p>\n News<\/strong>: India has joined the G20 \u2018Troika\u2019.<\/p>\n About the Troika<\/strong><\/p>\n Troika refers to the top grouping within the G20 that consists of the current, previous, and incoming presidencies.<\/p>\n Currently, Troika consists of Indonesia, Italy, and India \u2013 the current, previous, and incoming G20 Presidencies respectively.<\/p>\n G20 Presidency<\/strong><\/p>\n Indonesia has assumed the G20 Presidency from Italy and will convene the G20 Leaders\u2019 Summit in October 2022 under the overall theme of \u201cRecover Together Recover Stronger\u201d.<\/p>\n India will assume the G20 Presidency on December 1, 2022, from Indonesia and will convene the G20 Leaders\u2019 Summit for the first time in India in 2023.<\/p>\n About G20<\/strong><\/p>\n It is the premier forum for international economic cooperation, which reflects a recognition that global prosperity is interdependent and that our economic opportunities and challenges are interlinked.<\/p>\n The G20 (19 countries and the European Union) was born in 1999 as a consultation forum between finance ministers and central bank governors of the world\u2019s major economies. Following the 2008 economic crisis, it became a forum between Heads of State and Governments, aimed at improving coordination on the main global issues.<\/p>\n It has no permanent secretariat<\/strong> and its declarations are not legally binding<\/strong>.<\/p>\n News<\/strong>: The 2nd ASEAN<\/strong><\/a> Digital Ministers (ADGMIN) meeting took place in a virtual mode.<\/p>\n About the ASEAN Digital Ministers (ADGMIN)<\/strong><\/p>\n ADGMIN is an annual meeting of Telecom Ministers of 10 ASEAN (Association of South-East Asian Nations) countries and dialogue partner countries \u2013 Australia, Canada, China, EU, India, Japan, Republic of Korea, New Zealand, Russia, UK, and US.<\/p>\n News<\/strong>: India and Denmark have agreed to initiate joint research and development on green fuels, including green hydrogen. This joint research is a part of the already adopted Green Strategic Partnership \u2013 Action Plan 2020-2025.<\/p>\n About India-Denmark Green Strategic Partnership<\/strong><\/p>\n India-Denmark launched the Green Strategic Partnership during their virtual summit in September 2020.<\/p>\n The partnership is a mutually beneficial arrangement to advance political cooperation, expand economic relations, promote green growth, create jobs, and strengthen cooperation in addressing global challenges.<\/p>\n Focus sectors:<\/strong> water, urban development, renewable energy, and intellectual property rights.<\/p>\n Under the partnership, a joint action plan has also been prepared<\/strong>. As per the plan, Danish companies with the pertinent technologies and expertise will help India in meeting its air pollution control targets, specifically the key problem of burning crop stubble.<\/p>\n The plan also includes cooperative efforts<\/strong> in water efficiency, construction of India-Denmark energy parks and an India-Denmark skill institute to train Indian manpower.<\/p>\n Significance<\/strong>: The partnership signifies the two countries\u2019 commitment to meet the United Nations Sustainable Development Goals (SDGs) and contribute to the mitigation of the global climate crisis.<\/p>\n News<\/strong>: India has confirmed a $400 million currency swap with Sri Lanka while deferring another $500 million due for settlement to the Asian Clearing Union (ACU).<\/p>\n About Asian Clearing Union (ACU)<\/strong><\/p>\n Asian Clearing Union (ACU) was established in 1974 at the initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP).<\/p>\n Objective:<\/strong> To facilitate payments among member countries for eligible transactions on a multilateral basis, thereby economizing on the use of foreign exchange reserves and transfer costs, as well as promoting trade among the participating countries.<\/p>\n Members: <\/strong>The Central Banks and the Monetary Authorities of Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka are currently members of the ACU.<\/p>\n Headquarters: <\/strong>Tehran, Iran.<\/p>\n About Currency Swap<\/strong><\/p>\n A\u00a0currency swap<\/strong>\u00a0between the two countries is an\u00a0agreement or contract to exchange currencies<\/strong>\u00a0with predetermined terms and conditions.<\/p>\n As per the arrangements, both countries pay for import and export trade at the pre-determined rates of exchange, without bringing in third-country currency like the US Dollar. In such arrangements no third country currency is involved, thereby eliminating the need to worry about exchange variations.<\/p>\n News<\/strong>: In accordance with the discussions at the 12th India \u2013 USA trade policy forum meeting, India and the United States have signed the framework agreement for implementing the \u201c2 Vs 2 Agri-Market Access Issues\u201d.<\/p>\n About 2 Vs 2 Agri-Market Access Issues<\/strong><\/p>\n Under this deal, two Agricultural Products from India will be exported to the US. Similarly, two American products will be imported to India.<\/p>\n From the Indian Side, Indian mangoes & pomegranate have been chosen for export to the USA, while the US will export cherries and Alfalfa hay to India.<\/p>\n About India-United States Trade Policy Forum (TPF)<\/strong><\/p>\n India-United States TPF is a premier forum to resolve trade and investment issues <\/strong>between the two countries.<\/p>\n The forum is co-chaired by<\/strong> the Indian Minister of Commerce and Industry and the U.S. Trade Representative.<\/p>\n The forum has five focus groups <\/strong>\u2013 agriculture, investment, innovation and creativity (intellectual property rights), services, and tariff and non-tariff barriers.<\/p>\n News<\/strong>: India has welcomed Egypt as the fourth new member of the New Development Bank (NDB).<\/p>\n About the New Development Bank (NDB)<\/strong><\/p>\n It is a multilateral development bank jointly founded by the BRICS countries (Brazil, Russia, India, China and South Africa) at the 6th<\/sup> BRICS Summit in Fortaleza, Brazil in 2014. The Bank formally came into existence in 2015.<\/p>\n Purpose: <\/strong>To mobilize resources for infrastructure and sustainable development projects in emerging economies.<\/p>\n Projects:<\/strong> Projects in areas such as transport, water and sanitation, clean energy, digital infrastructure, social infrastructure, and urban development are within the scope of the bank.<\/p>\n Members: <\/strong>Brazil, Russia, India, China, South Africa, Bangladesh, United Arab Emirates (UAE), Uruguay and Egypt.<\/p>\n UN Observer Status:<\/strong> In 2018, the NDB received observer status in the UN General Assembly, establishing a firm basis for active and fruitful cooperation with the United Nations.<\/p>\n The Bank\u2019s Articles of Agreement <\/strong>specify that all members of the United Nations could be members of the bank. However, the share of the BRICS nations can never be less than 55% of the voting power.<\/p>\n Headquarters: <\/strong>Shanghai, China.<\/p>\n News<\/strong>: India\u2019s External Affairs Minister has addressed the Munich Security Conference, 2022.<\/p>\n About the Munich Security Conference<\/strong><\/p>\n It is an annual conference on international security that takes place in Munich, Germany.<\/p>\n Started by<\/strong>: It was started in 1963 by Ewald-Heinrich von Kleist-Schmenzin.<\/p>\n Motto<\/strong>: Peace through dialogue.<\/p>\n Significance<\/strong>: It is the world\u2019s largest gathering of its kind.<\/p>\n News<\/strong>: The 5th Edition of Colombo Security Conclave (CSC) started in the Maldives.<\/p>\n The conclave was attended by National Security Advisors and representatives from India, Sri Lanka, Maldives, Mauritius, Bangladesh, and Seychelles.<\/p>\n Note:<\/strong> Bangladesh and Seychelles attended as observers at this conclave meeting.<\/p>\n About Colombo Security Conclave<\/strong><\/p>\n India, Maldives, and Sri Lanka began a National Security Advisor (NSA)-level trilateral meeting on maritime security cooperation in 2011.<\/p>\n Following a halt from 2014-2019, the trilateral meeting was resumed in 2020, when the decision was taken to establish the Colombo Security Conclave (CSC).<\/p>\n Aim of the Conclave:<\/strong> To forge closer cooperation on maritime and security matters among the three Indian Ocean countries.<\/p>\n Pillars of Cooperation: <\/strong>There are four pillars of security cooperation including marine security, human trafficking, counter-terrorism, and cyber security.<\/p>\n Secretariat:<\/strong> Colombo, Sri Lanka.<\/p>\n Key takeaways from the fifth edition of Colombo Security Conclave<\/strong><\/p>\n Firstly, Mauritius <\/strong>was included as a new member of the conclave.<\/p>\n Secondly,<\/strong> Humanitarian Assistance and Disaster Relief <\/strong>has been added as the fifth pillar<\/strong>.<\/p>\n News<\/strong>: Pakistan has been elected the next chair of the Group of 77 (G77) for the year 2022 at the 45th ministerial meeting held virtually.<\/p>\n About the Group of 77<\/strong><\/p>\n It is the largest intergovernmental organization of developing countries in the United Nations. It was established in 1964 by 77 developing countries.<\/p>\n Aim<\/strong>: To promote its members\u2019 collective economic interests, create an enhanced joint negotiating capacity in the United Nations\u00a0and promote South-South cooperation for development.<\/p>\n Members<\/strong>: The members of G-77 have increased to 134 countries. However, the original name was retained due to its historic significance.\u00a0India is one of the members of the G77.<\/p>\n Chairmanship:<\/strong>\u00a0Guinea\u00a0holds the chairmanship as of 2021.<\/p>\n News: <\/strong>Ministers of India, Brazil, South Africa and China representing BASIC Group meet at COP26. It was the 26th United Nations Climate Change conference, held at the SEC Centre in Glasgow, Scotland, United Kingdom.<\/p>\n About BASIC<\/strong><\/p>\n BASIC countries<\/strong>\u00a0(also\u00a0Basic countries<\/strong>\u00a0or\u00a0BASIC<\/strong>) are a\u00a0bloc<\/strong>\u00a0of four large newly industrialized countries \u2013\u00a0Brazil, South Africa,\u00a0India\u00a0and China<\/strong>.<\/p>\n The\u00a0group was formed\u00a0<\/strong>as the result of an agreement signed by the four countries on November 28, 2009. The four countries<\/strong> acted together at the Copenhagen Summit in Copenhagen, Denmark in 2009.<\/p>\n They stand at a common position\u00a0on reducing greenhouse gas emissions and raising the massive funds that are needed to fight climate change.<\/p>\n The BASIC countries also constituted one of the\u00a0main parties in the\u00a0<\/strong>Copenhagen Accord\u00a0<\/strong><\/a>reached with the US-led grouping. However, the accord was not\u00a0legally binding.<\/strong><\/p>\n News<\/strong>: The United States of America (USA) has joined the\u00a0International Solar Alliance (ISA)\u00a0<\/strong><\/a>as a member country. The US has become the 101st member to join the International Solar Alliance (ISA).<\/p>\n This will\u00a0motivate many other countries to join. It will also ensure ISA\u2019s financial sustainability and enhance its global climate change role.<\/p>\n About ISA<\/strong><\/p>\n
\nImportant international organizations, groupings, and initiatives<\/strong><\/span><\/h2>\n
\nHumanitarian Trust Fund for Afghanistan<\/span><\/h3>\n
\nIndia-Central Asia Dialogue<\/span><\/h3>\n
\nTechnology-based Energy Solutions: Innovations for Net Zero<\/span><\/h3>\n
\n
\nGlobal Gateway Plan<\/span><\/h3>\n
\nG20 \u2018Troika\u2019<\/span><\/h3>\n
\nASEAN Digital Ministers Meeting<\/span><\/h3>\n
India-Denmark Green Strategic Partnership<\/h3>\n
\nAsian Clearing Union (ACU)<\/span><\/h3>\n
\n2 Vs 2 Agri-Market Access Issue<\/span><\/h3>\n
\nNew Development Bank (NDB)<\/span><\/h3>\n
\nMunich Security Conference<\/span><\/h3>\n
\nColombo Security Conclave<\/span><\/h3>\n
\nG77 Group<\/span><\/h3>\n
\nBASIC Countries<\/span><\/h3>\n
\nInternational Solar Alliance<\/span><\/h3>\n