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With reference to the Build Back Better World (B3W) initiative, consider the following statements:
- It is an initiative of G20 group of nations.
- The B3W efforts are in line with the standards and principles of the Blue Dot Network
- It aims to address the infrastructure investment deficit in developing and lower-income countries.
Which of the above statements is/are correct?
- a)1 and 2 only
- b)2 and 3 only
- c)1, 2 and 3
- d)None of the above
Correct answer is option 'B'. Can you explain this answer?
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With reference to the Build Back Better World (B3W) initiative, consid...
Statement Analysis:
Statement 1
Incorrect
Build Back Better World or B3W is an initiative undertaken by G7 countries
Statement 1
Incorrect
Build Back Better World or B3W is an initiative undertaken by G7 countries
Statement 2
Correct
The B3W efforts are in line with the standards and principles of the Blue Dot Network (BDN), relating to the environment and climate, labor and social safeguards, financing, construction, anticorruption, and other areas.
Correct
The B3W efforts are in line with the standards and principles of the Blue Dot Network (BDN), relating to the environment and climate, labor and social safeguards, financing, construction, anticorruption, and other areas.
Statement 3
Correct
Led by the United States, the G7 countries will work to address the $40 trillion worth of infrastructure needed by developing countries by 2035. The initiative aims to catalyze funding for quality infrastructure from the private sector and will encourage private-sector investments that support “climate, health and health security, digital technology, and gender equity and equality”
Correct
Led by the United States, the G7 countries will work to address the $40 trillion worth of infrastructure needed by developing countries by 2035. The initiative aims to catalyze funding for quality infrastructure from the private sector and will encourage private-sector investments that support “climate, health and health security, digital technology, and gender equity and equality”
Context – US President Biden Announced the Build Back Better Framework
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With reference to the Build Back Better World (B3W) initiative, consid...
Answer:
The correct answer is option B: 2 and 3 only. Let's understand each statement in detail:
Statement 1: It is an initiative of G20 group of nations.
This statement is incorrect. The Build Back Better World (B3W) initiative is not an initiative of the G20 group of nations. It is a separate initiative proposed by the United States. The G20 group of nations is an international forum for the governments and central bank governors from 19 countries and the European Union.
Statement 2: The B3W efforts are in line with the standards and principles of the Blue Dot Network.
This statement is correct. The Blue Dot Network (BDN) is an initiative launched by the United States, Japan, and Australia in 2019. It aims to promote quality infrastructure development by establishing a globally recognized standard for infrastructure projects. The B3W initiative aligns with the principles and standards of the Blue Dot Network, which include sustainability, transparency, and private sector participation. The B3W initiative seeks to mobilize private sector capital to address the infrastructure investment deficit in developing and lower-income countries, which is in line with the principles of the Blue Dot Network.
Statement 3: It aims to address the infrastructure investment deficit in developing and lower-income countries.
This statement is also correct. The main objective of the B3W initiative is to address the infrastructure investment deficit in developing and lower-income countries. The initiative aims to mobilize private sector capital to invest in infrastructure projects in these countries, thereby promoting economic growth, job creation, and sustainable development.
To summarize, statement 1 is incorrect as the B3W initiative is not an initiative of the G20 group of nations. However, statements 2 and 3 are correct as the B3W efforts align with the standards and principles of the Blue Dot Network, and the main objective of the initiative is to address the infrastructure investment deficit in developing and lower-income countries. Therefore, the correct answer is option B: 2 and 3 only.
The correct answer is option B: 2 and 3 only. Let's understand each statement in detail:
Statement 1: It is an initiative of G20 group of nations.
This statement is incorrect. The Build Back Better World (B3W) initiative is not an initiative of the G20 group of nations. It is a separate initiative proposed by the United States. The G20 group of nations is an international forum for the governments and central bank governors from 19 countries and the European Union.
Statement 2: The B3W efforts are in line with the standards and principles of the Blue Dot Network.
This statement is correct. The Blue Dot Network (BDN) is an initiative launched by the United States, Japan, and Australia in 2019. It aims to promote quality infrastructure development by establishing a globally recognized standard for infrastructure projects. The B3W initiative aligns with the principles and standards of the Blue Dot Network, which include sustainability, transparency, and private sector participation. The B3W initiative seeks to mobilize private sector capital to address the infrastructure investment deficit in developing and lower-income countries, which is in line with the principles of the Blue Dot Network.
Statement 3: It aims to address the infrastructure investment deficit in developing and lower-income countries.
This statement is also correct. The main objective of the B3W initiative is to address the infrastructure investment deficit in developing and lower-income countries. The initiative aims to mobilize private sector capital to invest in infrastructure projects in these countries, thereby promoting economic growth, job creation, and sustainable development.
To summarize, statement 1 is incorrect as the B3W initiative is not an initiative of the G20 group of nations. However, statements 2 and 3 are correct as the B3W efforts align with the standards and principles of the Blue Dot Network, and the main objective of the initiative is to address the infrastructure investment deficit in developing and lower-income countries. Therefore, the correct answer is option B: 2 and 3 only.
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With reference to the Build Back Better World (B3W) initiative, consider the following statements: It is an initiative of G20 group of nations. The B3W efforts are in line with the standards and principles of the Blue Dot Network It aims to address the infrastructure investment deficit in developing and lower-income countries.Which of the above statements is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1, 2 and 3d)None of the aboveCorrect answer is option 'B'. Can you explain this answer?
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With reference to the Build Back Better World (B3W) initiative, consider the following statements: It is an initiative of G20 group of nations. The B3W efforts are in line with the standards and principles of the Blue Dot Network It aims to address the infrastructure investment deficit in developing and lower-income countries.Which of the above statements is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1, 2 and 3d)None of the aboveCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Build Back Better World (B3W) initiative, consider the following statements: It is an initiative of G20 group of nations. The B3W efforts are in line with the standards and principles of the Blue Dot Network It aims to address the infrastructure investment deficit in developing and lower-income countries.Which of the above statements is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1, 2 and 3d)None of the aboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Build Back Better World (B3W) initiative, consider the following statements: It is an initiative of G20 group of nations. The B3W efforts are in line with the standards and principles of the Blue Dot Network It aims to address the infrastructure investment deficit in developing and lower-income countries.Which of the above statements is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1, 2 and 3d)None of the aboveCorrect answer is option 'B'. Can you explain this answer?.
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