Current Affairs in Short: 27 October 2021

The Indian government and the ADB signed a $4.5 million Project Readiness Financing (PRF) loan to enhance urban mobility in Aizawl which is the capital of Mizoram.

Current Affairs in Short: 27 October 2021
Current Affairs in Short: 27 October 2021

President of India accepts credentials from envoys of four nations

•The President of India Ram Nath Kovind accepted credentials from Ambassadors of the Grand Duchy of Luxembourg, the Republic of Slovenia, the Arab Republic of Egypt, and Israel in Ashok Hall, Rashtrapati Bhavan on October 26, 2021.

•The four ambassadors who presented credentials were Ambassador of the Grand Duchy of Luxembourg H.E. Peggy Frantzen, Ambassador of the Republic of Slovenia H.E. Mateja Vodeb Ghosh, Ambassador of Israel H.E. Naor Gilon, and Ambassador of the Arab Republic of Egypt H.E. Wael Mohamed Awad Hamed.

•Following the credential ceremony, Ram Nath Kovind highlighted the bond that India shares with all four countries. The ambassadors also reiterated their commitment to strengthen ties with India.

Finance Minister Nirmala Sitharaman participates in 6th Annual Meeting of AIIB

•Union Finance Minister Nirmala Sitharaman on October 26, 2021, participated in the 6th annual meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) through video conferencing from New Delhi.

•India is a founding member of AIIB and the 2nd largest shareholder in AIIB. The 6th AIIB Annual Meeting has been organized by AIIB and the United Arab Emirates government on the theme ‘Investing Today and Transforming Tomorrow’.

•Sitharaman spoke during the Governor’s Roundtable Discussion on the theme ‘COVID-19 crisis and post-COVID support’. She appreciated the financial support from AIIB to member countries including India. She also assured India’s cooperation and support to AIIB for future initiatives.

•Sitharaman discussed India’s social protection and economic stimulus packages and its features such as credit guarantee scheme for microfinance institutions, free food grains for 800 million people under the Pradhan Mantri Garib Kalyan Yojana, India’s successful drive to administer 1 billion vaccine doses, India’s Vaccine Maitri initiative and India’s scientific and technological ecosystem.

•Sitharaman noted that the climate change crisis has reinstated the importance of Multilateral Development Banks (MDBs). She also highlighted the expectations from the Bank such as the need to explore investment opportunities, intensify private sector capital mobilization, inclusive and green development, and set up a Resident Board and Regional Offices for quality of investments.

India, ADB sign $4.5 million Project Readiness Financing loan to support urban mobility in Mizoram

•The Indian government and the Asian Development Bank on October 26, 2021, signed a $4.5 million Project Readiness Financing (PRF) loan to support the preparation and design activities to enhance urban mobility in Aizawl which is the capital of Mizoram.

•Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Finance Ministry (Government of India) signed for the proposed Aizawl Sustainable Urban Transport Project and Takeo Konishi, Country Director of ADB’s India Resident Mission signed on behalf of ADB.

•The Project Readiness Financing (PRF) facilitates the development of long-term solutions to enhance urban mobility in Aizawl by recognizing the high-priority urban transport investments. The PRF will develop a Comprehensive Mobility Plan (CMP) for Aizawl that draws the urban transport development strategy and build urban development planning initiatives, promoting climate and disaster resilience and gender inclusiveness.

•The urban mobility in Aizawl is severely affected due to unplanned urbanization that results in traffic congestion and poor movement of people, goods, and adverse effects on environmental sustainability.

•Established in 1966, ADB is committed to achieving a resilient, inclusive, prosperous, and sustainable Asia and the Pacific while working to eradicate extreme poverty.

Myanmar skips ASEAN Summit due to exclusion of its military leader

•Myanmar on October 26, 2021, skipped the Association of Southeast Asian Nations (ASEAN) Summit in protest after the ASEAN refused to allow Senior Gen. Min Aung Hlaing to represent Myanmar at the Summit.

•Brunei who is the current chair of the 10-member bloc ASEAN had invited Myanmar’s highest-ranking veteran diplomat U Chan Aye as a non-political representative but he did not attend the summit.

•ASEAN’s move to oust Myanmar's military leader has been viewed as an obligation to uphold other principles in the ASEAN charter such as good governance, democracy, respect for human rights, and constitutional government. The military takeover in Myanmar has given rise to widespread protests. Almost 1,200 civilians have been reported to be killed by security forces.   

•Myanmar’s Foreign Ministry later said that the decision to not attend the Summit was not a show of protest against ASEAN but an exercise of its rights as it believed ASEAN’s decision to oust Myanmar’s military leader was against the bloc’s charter.

Ex-South Koran President Roh Tae-woo dies at 88

•South Korean former President and decorated war veteran Roh Tae-woo died at the age of 88 at the Seoul National University Hospital on October 26, 2021. He won the country’s presidential election in 1987 taking the nation towards democracy from the rule of authoritarian leaders.

•Roh played a pivotal role in the 1979 military coup that made his army friend and coup leader Chun Doo-hwan the President in that year after the assassination of their mentor Park Chung-hee. Roh led the military division for operations to seize the capital.

•Roh’s political career came to end after he was imprisoned for corruption. His successor Kim Young-sam conducted an investigation of the coup following which Roh was arrested for mutiny, treason, and corruption. He was imprisoned for a 22.5-year prison sentence.

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