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Consider the following statements regarding the Partnership for Global Infrastructure and Investment:
- It is an initiative of G20 member countries to narrow the infrastructure gap in developing countries.
- It aims to build projects through grants and investments.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding the Partnership for Global...
Recently, the Union Minister for Commerce and Industry participated in the Investor Forum of the Partnership for Global Infrastructure and Investment (PGII) & Indo-Pacific Economic Framework for Prosperity (IPEF).
- It is a developmental initiative aimed at narrowing the infrastructure gap in developing countries as well as help towards accelerating progress on SDGs globally.
- The infrastructure plan was first announced in June 2021 during the G7 Summit in the UK.
- Funding: It aims to build projects through grants and investments.
- The emphasis of the PGII is on building human infrastructure in the developing world, and improving the quality of education and of health care facilities.
Key facts about G7 Group
- It is an intergovernmental organisation of leading industrialised nations formed in 1975.
- Member countries: Canada, France, Germany, Italy, Japan, the United Kingdom and the United State.
- It meets annually to discuss issues such as global economic governance, international security, and energy policy.
- The host of the G7 summit, also known as the presidency, rotates annually among member countries.
- It was formerly referred to as the G-8 until Russia was suspended from the group in 2014 after annexing Crimea.
Hence only statement 2 is correct.
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Consider the following statements regarding the Partnership for Global...
Statement 1: The Partnership for Global Infrastructure and Investment is an initiative of G20 member countries to narrow the infrastructure gap in developing countries.
Statement 2: The partnership aims to build projects through grants and investments.
The correct answer is option B, which means only Statement 2 is correct.
Explanation:
Partnership for Global Infrastructure and Investment:
The Partnership for Global Infrastructure and Investment (PGII) is indeed an initiative of the G20 member countries. It was launched in 2014 by the Australian government when it held the G20 presidency. The PGII aims to facilitate investment in infrastructure projects in both developed and developing countries.
Statement 1: The Partnership for Global Infrastructure and Investment is an initiative of G20 member countries to narrow the infrastructure gap in developing countries.
This statement is incorrect. While the PGII does aim to facilitate investment in infrastructure projects, it is not specifically focused on narrowing the infrastructure gap in developing countries. The partnership aims to bring together policymakers, regulators, and investors from both developed and developing countries to promote infrastructure investment globally.
Statement 2: The partnership aims to build projects through grants and investments.
This statement is correct. The PGII aims to facilitate infrastructure investment through a combination of grants and investments. The partnership recognizes that traditional sources of financing, such as public funds and development finance institutions, are not sufficient to meet the growing infrastructure demands globally. Therefore, the PGII seeks to attract private sector investment by creating an enabling environment and providing financial support in the form of grants and investments.
In conclusion, only Statement 2 is correct. The Partnership for Global Infrastructure and Investment is an initiative of G20 member countries that aims to facilitate infrastructure investment through grants and investments. However, it is not specifically focused on narrowing the infrastructure gap in developing countries.
Statement 2: The partnership aims to build projects through grants and investments.
The correct answer is option B, which means only Statement 2 is correct.
Explanation:
Partnership for Global Infrastructure and Investment:
The Partnership for Global Infrastructure and Investment (PGII) is indeed an initiative of the G20 member countries. It was launched in 2014 by the Australian government when it held the G20 presidency. The PGII aims to facilitate investment in infrastructure projects in both developed and developing countries.
Statement 1: The Partnership for Global Infrastructure and Investment is an initiative of G20 member countries to narrow the infrastructure gap in developing countries.
This statement is incorrect. While the PGII does aim to facilitate investment in infrastructure projects, it is not specifically focused on narrowing the infrastructure gap in developing countries. The partnership aims to bring together policymakers, regulators, and investors from both developed and developing countries to promote infrastructure investment globally.
Statement 2: The partnership aims to build projects through grants and investments.
This statement is correct. The PGII aims to facilitate infrastructure investment through a combination of grants and investments. The partnership recognizes that traditional sources of financing, such as public funds and development finance institutions, are not sufficient to meet the growing infrastructure demands globally. Therefore, the PGII seeks to attract private sector investment by creating an enabling environment and providing financial support in the form of grants and investments.
In conclusion, only Statement 2 is correct. The Partnership for Global Infrastructure and Investment is an initiative of G20 member countries that aims to facilitate infrastructure investment through grants and investments. However, it is not specifically focused on narrowing the infrastructure gap in developing countries.
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Consider the following statements regarding the Partnership for Global Infrastructure and Investment: It is an initiative of G20 member countries to narrow the infrastructure gap in developing countries. It aims to build projects through grants and investments.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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