11 Mar 2018: UPSC Exam PIB Summary & Analysis

Conference of International Solar Alliance 

  • PM Narendra Modi, French President Emmanuel Macron and other distinguished world leaders today jointly inaugurated the Founding Conference of International Solar Alliance in New Delhi.
  • Dignitaries from over 50 countries attend the event.
  • PM Modi, in his address at the International Solar Alliance Summit, outlined a 10-point action plan to bring about a “worldwide solar revolution”.

 

India has won “Best Exhibitor Award”

  • India has won the “Best Exhibitor Award” at ITB – Berlin. ‘ITB- Berlin World Tourist Meet’ was convened at Berlin, Germany.
  • India was represented by the Minister of State (Independent charge) for Tourism Mr K. J. Alphons along with couple of Tourism Ministry officials.
  • More than 100 countries participated in the ITB- Berlin meet with their respective Tourism Ministers.
  • India’s Incredible India (Ministry of Tourism) presented a short film named “Yogi of the Racetrack” in the meet. 

 

Ex Samvedna

  • It is a multilateral Air force exercise being spearheaded by Indian Air Force and conducted by Southern Air Command (SAC).
  • It is the first composite Human assistance and disaster relief (HADR) Air exercise in the South Asian region and would be focused on practicing Air Force centric HADR solutions in a Multi-national cooperative Disaster Management environment. 
  • Air Forces of Bangladesh, Sri Lanka, UAE and Myanmar have already committed resources and personnel for the exercise. Few other Air Forces from the region are also expected to join in.
  • This exercise would help in putting in place a basic framework for conduct of Joint Air HADR operations, which will be further refined during subsequent exercises.
  • This exercise is expected to lead to more coordinated and efficient HADR Air operations in the entire South Asian region when the need arises.

 

IREDA & European Investment Bank sign Euro 150 million Loan Agreement

  • European Investment Bank (EIB) and Indian Renewable Energy Development Agency (IREDA) Ltd. have signed a loan agreement for a second line of credit (LoC) of Euro 150 million on non-sovereign basis.
  • The line of credit is for tenure of 15 years including a grace period of 3 years, and it will be used for financing Renewable Energy and Energy Efficiency projects in India.
  • More than 1.1 million households are expected to benefit from clean energy produced with these funds.

About EIB:

  • EIB is the long-term lending institution of the European Union owned by its Member States.
  • It works closely with other EU institutions to implement EU policy and is also engaged in multilateral financing.
  • More than 90 per cent of its activity is in Europe but it is also a big investor globally.
  • EIB’s activities focus on four priority areas including innovation and skills, access to finance for smaller businesses, infrastructure and climate & environment.

About IREDA:

  • IREDA is the dedicated financing arm of the Ministry of New and Renewable Energy for financing the renewable and energy efficiency projects and has been spearheading the growth of renewable energy in the country for over three decades.
  • It has financed renewable and energy efficiency projects of financial value of over Rs.34,534.06 crore till date.
  • To meet the financing requirement of renewable energy projects in the country, IREDA has been raising resources from various bilateral and multilateral agencies, Masala bonds, and domestic – taxable and tax-free bonds.

 

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