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Commonwealth hails Prime Minister Narendra Modi for supporting vulnerable nations



Prime Minister Narendra Modi

Prime Minister Narendra Modi | Photo credit: IANS

New Delhi: Commonwealth Secretary General Patricia Scotland hailed India’s leadership in supporting vulnerable Commonwealth nations, describing it as an “area of ​​hope” for all member countries.

On Monday, in a virtual ceremony marking the third anniversary of the India-United Nations Development Partnership Fund, the Secretary-General congratulated Prime Minister Narendra Modi for establishing the fund and “providing opportunities and hope to the Commonwealth of Nations and to those who work to support them. “.

Addressing the meeting, she said: “ Given that 34 of the world’s small island developing states and least developed countries are members of the Commonwealth, India’s ambitious program of support to them through through the fund is a bold statement of intent that is greatly appreciated and needed.

“It is, despite the challenges we all face, both a declaration of hope and a demonstration of values. The sense of partnership, support and multilateralism embodied by the UN-India Fund is more necessary than ever. This is why I believe that India’s growing leadership role in the world is also, as this fund shows, a space of hope for all of us. “

The India-United Nations Development Partnership Fund was created in 2017 and aims to support sustainable development projects led by developing countries in the South.

In addition to a multi-year contribution of $ 100 million from the Government of India, an additional $ 50 million is allocated to the fund as< guichet du Commonwealth >> for developing member countries, in particular small island developing states and least developed countries.

The fund recently approved $ 550,000 to help The Bahamas manage their high level of indebtedness by establishing a strong legal, institutional and policy framework for debt management and the development of the government bond market.

Another tranche of $ 550,000 for Barbados is in final approval, which aims to create jobs and grow the country’s energy sector, connecting local people and businesses at all levels of the chain. valuable.

The Commonwealth is an implementing partner for both projects.

The Secretary-General continued, “I am grateful that the Commonwealth Secretariat is now engaged as an implementing partner. We look forward to further developing this capacity and continuing to deepen cooperation moving forward.”

The milestone builds on an agreement signed between the Commonwealth Secretariat and the United Nations Office for South-South Cooperation to foster South-South and triangular cooperation among their common member states.

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