Context:
Recently UK-India Infrastructure Financing Bridge (UKIIFB) agreement was signed between NITI Aayog and City of London Corporation in London.
UK India Infrastructure Financing Bridge (UKIIFB):
- Jointly led by NITI Aayog and the City of London Corporation.
- Agreement reached during the UK Economic and Financial Dialogue (EFD) in September 2023.
- Agreement Period – 2 years.
- Aim – To facilitate international investments into India’s ambitious infrastructure projects.
- Functions –
- Investment Mobilization – Accelerate the mobilization of international private sector investment into Indian sustainable infrastructure.
- Barrier Identification – Make recommendations on addressing barriers to international private sector investment in Indian sustainable infrastructure.
- Knowledge Development – Work together towards developing knowledge and best practices on sustainable infrastructure projects to make them investable and attractive to international investors.
- Steering Committee – Comprises representatives from both countries, including Government’s Treasury department, Construction companies, Engineering and legal firms
- Identified Projects – 8 projects have been identified for support and funding under the UKIIFB, including the Delhi-Meerut Regional Rapid Transit System
Source: The Indian Express
Previous Year Question
With reference to India’s projects on connectivity, consider the following statements:
1. East-West Corridor under Golden Quadrilateral Project connects Dibrugarh and Surat.
2. The Trilateral Highway connects Moreh in Manipur and Chiang Mai in Thailand via Myanmar.
3. Bangladesh-China-India-Myanmar Economic Corridor connects Varanasi in Uttar Pradesh with Kunming in China.
How many of the above statements are correct?
[UPSC Civil Services Exam – 2023 Prelims]
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (d)
Explanation:
Golden Quadrilateral Project network connects Srinagar in the north to Kanyakumari in the south, and Silchar in the east to Porbandar in the west. Trilateral Highway connects Moreh in Manipur and Mae Sot in Thailand via Myanmar. Bangladesh-China-India-Myanmar Economic Corridor connects Kolkata with Kunming in China. Hence, none of the statements are correct.
