. I NDI AN OCE A N CO NFE R E NCE
Why in News?
The third edition of Indian Ocean Conference is set to begin on August 27 at Hanoi, the capital of Vietnam
More on the news
• The theme of the two- day conference will focus on ‘Building Regional Architectures’, particularly with regards to trade and commerce, security and governance.
• This year, the Indian Ocean Conference will emphasise on better cooperation, strategic collaboration and governance architectures.
Significance of Indian Ocean
• The sea lanes in the Indian Ocean are considered among the most strategically important in the world— more than 80 percent of the world’s seaborne trade in oil transits through Indian Ocean choke points. Around 95 per cent of India’s trade by volume and 68 per cent of trade by value come via the Indian Ocean.
• The region is home to continually evolving strategic
Indian Ocean Conference
• The Indian Ocean Conference is initiated by India Foundation along with its partners from Singapore, Sri Lanka and Bangladesh
• It is an annual effort to bring together Heads of States/Governments, Ministers, thought Leaders, scholars, diplomats, bureaucrats and practitioners from across the region.
• Two successful editions of the Conference have been hosted so far in 2016 and 2017
developments including the competing rises of China and India, potential nuclear confrontation between India and Pakistan, the US interventions in Iraq and Afghanistan, Islamist terrorism, growing incidence of piracy in and around the Horn of Africa, and management of diminishing fishery resources.
• The region is rich in energy resources and minerals such as gold, tin, uranium, cobalt, nickel, aluminium and cadmium, and also contains abundant fishing resources
• It is important for securing the free passage of trade and energy, ensuring the sustainable and equitable exploitation of fishing and mineral resources, and managing humanitarian assistance and disaster relief.
2.5. ASI AN DE V E LOPME NT BA NK - STR ATE GY 2030
Why in News?
Recently, Asian Development Bank (ADB) released its long-term corporate strategy i.e. Strategy 2030.
About the ADB- Strategy 2030
• It is policy framework for ADB that sets out the its broad vision and strategic response to the evolving needs of Asia and the Pacific.
• Social Dimension: In contrast to earlier Strategy 2020- the Strategy 2030 document emphasis on human and social factors, in addition to the usual infrastructure and the private sector.
15 ©Vision IAS
• Regional or Country Specific Approach: Due to sheer diversity of this region (include both landlock and Small island countries), ADB has, for the first time, adopted a differentiated approach to various groups of member nations.
• One ADB Approach: This includes bringing together expertise and knowledge in a range of areas across the
ADB as an institution.
Priority Areas of Strategy 2030
• Addressing remaining poverty and reducing Inequalities: Under this policy efforts will also address non-income dimension of poverty.
• Accelerating progress in gender equality
• Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
• Making cities more liveable
• Promoting rural development and food security
• Strengthening governance and institutional capacity
• Fostering regional cooperation and integration
India and ADB
Related Information
About Asian Development Bank (ADB)
• ADB was founded in 1966 and India is a founding member to it.
• The ADB has 67-member countries, including —
48 from the Asian region.
• ADB has been led conventionally by a Japanese governor.
• Top 5 shareholders in ADB are: Japan (15.6%), United States (15.6%), People's Republic of China (6.4%), India (6.3%) and Australia (5.8%)
• It provides direct assistance to private enterprises of developing member countries through equity investments and loans.
• India was a founding member of ADB and is now the fourth-largest shareholder, but operations in the country began only in 1986, when India opted to become a borrowing member.
• The country partnership strategy (CPS) 2018-2022 will focus on three pillars.
o Pillar 1 will boost economic competitiveness to create more and better jobs by expanding infrastructure networks for transport and energy along economic corridors, enhancing management of corridor development and urban centers, and addressing the skills gap to support industrialization.
o Pillar 2 will provide inclusive access to infrastructure networks and social services by improving the infrastructure bottlenecks in lagging regions, providing better municipal services for the urban poor, and
supporting investments in rural infrastructure to improve agricultural productivity and reduce the growing rural-urban income gap. Efficient public sector management will be supported to create fiscal space for investments in inclusive growth for social and rural development.
o Pillar 3 will address environmental degradation through mitigating the negative impacts of climate change and promoting sustainable natural resource use in the project design.
Why in News?
The third edition of Indian Ocean Conference is set to begin on August 27 at Hanoi, the capital of Vietnam
More on the news
• The theme of the two- day conference will focus on ‘Building Regional Architectures’, particularly with regards to trade and commerce, security and governance.
• This year, the Indian Ocean Conference will emphasise on better cooperation, strategic collaboration and governance architectures.
Significance of Indian Ocean
• The sea lanes in the Indian Ocean are considered among the most strategically important in the world— more than 80 percent of the world’s seaborne trade in oil transits through Indian Ocean choke points. Around 95 per cent of India’s trade by volume and 68 per cent of trade by value come via the Indian Ocean.
• The region is home to continually evolving strategic
Indian Ocean Conference
• The Indian Ocean Conference is initiated by India Foundation along with its partners from Singapore, Sri Lanka and Bangladesh
• It is an annual effort to bring together Heads of States/Governments, Ministers, thought Leaders, scholars, diplomats, bureaucrats and practitioners from across the region.
• Two successful editions of the Conference have been hosted so far in 2016 and 2017
developments including the competing rises of China and India, potential nuclear confrontation between India and Pakistan, the US interventions in Iraq and Afghanistan, Islamist terrorism, growing incidence of piracy in and around the Horn of Africa, and management of diminishing fishery resources.
• The region is rich in energy resources and minerals such as gold, tin, uranium, cobalt, nickel, aluminium and cadmium, and also contains abundant fishing resources
• It is important for securing the free passage of trade and energy, ensuring the sustainable and equitable exploitation of fishing and mineral resources, and managing humanitarian assistance and disaster relief.
2.5. ASI AN DE V E LOPME NT BA NK - STR ATE GY 2030
Why in News?
Recently, Asian Development Bank (ADB) released its long-term corporate strategy i.e. Strategy 2030.
About the ADB- Strategy 2030
• It is policy framework for ADB that sets out the its broad vision and strategic response to the evolving needs of Asia and the Pacific.
• Social Dimension: In contrast to earlier Strategy 2020- the Strategy 2030 document emphasis on human and social factors, in addition to the usual infrastructure and the private sector.
15 ©Vision IAS
• Regional or Country Specific Approach: Due to sheer diversity of this region (include both landlock and Small island countries), ADB has, for the first time, adopted a differentiated approach to various groups of member nations.
• One ADB Approach: This includes bringing together expertise and knowledge in a range of areas across the
ADB as an institution.
Priority Areas of Strategy 2030
• Addressing remaining poverty and reducing Inequalities: Under this policy efforts will also address non-income dimension of poverty.
• Accelerating progress in gender equality
• Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
• Making cities more liveable
• Promoting rural development and food security
• Strengthening governance and institutional capacity
• Fostering regional cooperation and integration
India and ADB
Related Information
About Asian Development Bank (ADB)
• ADB was founded in 1966 and India is a founding member to it.
• The ADB has 67-member countries, including —
48 from the Asian region.
• ADB has been led conventionally by a Japanese governor.
• Top 5 shareholders in ADB are: Japan (15.6%), United States (15.6%), People's Republic of China (6.4%), India (6.3%) and Australia (5.8%)
• It provides direct assistance to private enterprises of developing member countries through equity investments and loans.
• India was a founding member of ADB and is now the fourth-largest shareholder, but operations in the country began only in 1986, when India opted to become a borrowing member.
• The country partnership strategy (CPS) 2018-2022 will focus on three pillars.
o Pillar 1 will boost economic competitiveness to create more and better jobs by expanding infrastructure networks for transport and energy along economic corridors, enhancing management of corridor development and urban centers, and addressing the skills gap to support industrialization.
o Pillar 2 will provide inclusive access to infrastructure networks and social services by improving the infrastructure bottlenecks in lagging regions, providing better municipal services for the urban poor, and
supporting investments in rural infrastructure to improve agricultural productivity and reduce the growing rural-urban income gap. Efficient public sector management will be supported to create fiscal space for investments in inclusive growth for social and rural development.
o Pillar 3 will address environmental degradation through mitigating the negative impacts of climate change and promoting sustainable natural resource use in the project design.
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