Question: Blue Dot Network, which is related certification of projects based on global infrastructure principles-
(a) Japan
(b) Australia
(c) China
(d) USA
Answer: (d)
Related Facts:
- Recently A bipartisan group of senators in the US has supported the decision to invite Australia for the annual naval exercise ‘Malabar.
- It is important to note that this group of senators in the US also invited India to join the Blue Dot Network.
- The Blue Dot Network was launched during the 35th ASEAN Summit held in Bangkok (Thailand) in November 2019.
- Blue Dot Network is led by the US International Development Finance Corporation of America.
- It works under the shared collaboration between the Japan Bank for International Cooperation (JBIC) and Australia’s Department of Foreign Affairs and Trade.
- Its objective is to bring government, private sectors together and emphasize on global infrastructure development within the framework of common standards.
- Its task is to certify projects based on global infrastructure principles.
- The certification issued by this network will act as a recognized global symbol for market-driven, transparent and sustainable development projects.
- Thus BDN will attract private capital investment for infrastructure related projects in developing and emerging economies.
- BDN is being seen as a reaction against China’s Belt and Road Initiative, led by the United States.
- It is noteworthy that China’s Belt and Road Initiative provides for direct finance and public debt, while BDN has no such system.
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