TNPSC Current Affairs January 14 2017
India and United States has signed a Memorandum of Understanding (MoU) to collaborate in the fields of developmental activities and aid in third world countries. Its main vision is to reduce poverty globally through sustainable economic growth.
The Memorandum of Understanding (MoU) is signed between Millennium Challenge Corporation, the US Agency and Development Partnership Administration (DPA) of the Ministry of External Affairs of India.
Millennium Challenge corporation is a US Agency providing grants to fund to reduce poverty through sustainable economic growth to poverty hit eligible countries. Development Partnership Administration looks India’s implementation of development cooperation programmes with partner countries.
As per the MoU, the 2 countries would collaborate on exchange of information and experience in sectors or issues pertaining to project development or implementation in partner countries
India and United states might also provide advisory or technical assistance to third countries. The MoU also facilitates to officials of 2 countries can site visits to cross-border or other relevant projects and capacity building of partner countries.