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Nobel Peace Prize 2014

October 11, 2014  

The Norwegian Nobel Committee has awarded the 2014 Nobel Peace Prize toKailash Satyarthi and Malala Yousafzai for their “struggle against the suppression of children and young people and for the right of all children toeducation.” The Committee specifically pointed out how commendable it was for “a Hindu and a Muslim, an Indian and a Pakistani, to join in a common struggle for education and against extremism”. The Committee also hoped that their fight for the rights of children will contribute to the larger goal of “fraternity between nations” that Alfred Nobel has explicitly mentioned in his will as one of the criteria for awarding the Nobel Peace Prize.

Malala and Satyarthi will be awarded a medal and $1.4 mn at an special ceremony in Oslo.

 Malala Yousafzai

17 year old Malala Yousafzai is the youngest Nobel Laureate in the history of the prize. She is also the third Nobel laureate who was born in Pakistan.

Malala fought for the rights of girl children in Swat Valley, Pakistan to attend school. She was shot by gunmen there, and later moved to Birmingham, UK. Since then, she has published her autobiography, addressed the UNGA, been named one of Time magazine’s most influential people in 2013, and awarded the EU’s Sakharov Prize for human rights.

Kailash Satyarthi

Satyarthi is the eighth Nobel laureate to have been born in India. He is an adherent of Gandhian philosophy. He has upheldMahatma Gandhi’s practice of engaging and conducting peaceful protests. He has focused his agitations against the exploitation of children for financial gain. He is the founder of the Bachpan Bachao Andolan (Save the Childhood Movement). Through his NGO, he campaigns for protection of child rights and to abolish illegal human trafficking.

World Bank Launches Global Infrastructure Facility (GIF)

October 11, 2014   

The World Bank (WB) has launched the GIF to specifically cater to the infrastructure needs of the emerging economies and developing countries. The GIF will channel money towards bankable infrastructure project in such countries. GIF also places importance on sustainable development. Its key focus will be on climate friendly infrastructureinvestments and projects that will boost trade.

The GIF will collaborate with other international and multilateral agencies which provide loans and financial assistance to countries across the globe. It will also help these agencies with its expertise in financing, supervising and implementing projects. Another areas where GIF could provide assistance it ensuring that all regulatory, environmental and social safeguards are met with while investing in large scale infrastructure projects. GIF will also work with private entities like asset management companies, private equity firms, pensions and insurance funds and commercial banks to tap into multiple sources of funding.

Government sets up ‘Japan Plus’ team

October 11, 2014   

India has set up a ‘Japan Plus’ management team to follow through on the $35 bn that Japan has promised to invest in India over a span of five years via PPP and overseas development assistance. This is a follow through on the agreements and initiatives agreed to by India and Japan during PM Modi’s visit to Japan.

Japan is the fourth largest foreign investor in India. It contributes to approximately 8% of India’s total FDI inflows. It is already actively involved in various infrastructure projects in India.

 Responsibilities of the Japan Plus team

The team will provide the Indian government assistance with respect to initiating, attracting, facilitating and fast-tracking of Japanese investments in India. The team will be responsible for all areas of investment promotion, research, outreach and issues post investment. It will also help identify areas for Indo-Japan collaboration and viable projects for Japanese investment.

 Composition

The team has been set up by DIPP (Department Of Industrial Policy and Promotion) and is operational from October 8. It consists of government officials from both countries. The team will have four Indians and two Japanese, and will be coordinated by Kenichiro Toyofuku from Japan’s Ministry of Economy, Trade and Industry.

 India-Japan Investment Promotion Partnership

An  Indo-Japan Investment Promotion Partnership core group has also been constituted. It will be headed by the Cabinet Secretary and will comprise of the Chairman of Railway Board, Foreign Secretary and secretaries of DIPP, revenue, economic affairs, financial services, urban development, information technology and others. It will coordinate and monitor investments from Japan. Also, it will facilitate investment in various sectors and enable effective transfer of technologies .