PIB ANALYSIS Date : 20/11/2018

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  1. Ease of Doing Business Grand Challenge
  2. BASIC Countries
  3. World Bank

1 . Ease of Doing Business Grand Challenge 

Prime Minister Launches Ease of Doing Business Grand Challenge

  • The objective of this challenge is to invite innovative ideas based on Artificial Intelligence, Internet of Things, Big Data Analytics, Blockchain and other cutting edge technology to reform Government processes. Challenge will tap the potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology.
  • The platform for the Grand Challenge is the Startup India Portal.

2 . BASIC Countries

Address of Union Environment Minister at BASIC ministerial meet in New Delhi.

  • The BASIC countries are a bloc of four large newly industrialized countries – Brazil, South Africa, India and China – formed by an agreement on 28 November 2009.
  • The four committed to act jointly at the Copenhagen climate summit, including a possible united walk-out if their common minimum position was not met by the developed nations.
  • This emerging geopolitical alliance, initiated and led by China, then brokered the final Copenhagen Accord with the United States.
  • Subsequently, the grouping is working to define a common position on emission reductions and climate aid money, and to try to convince other countries to sign up to the Copenhagen Accord
  • The Accord, drafted by, on the one hand, the United States and on the other, in a united position as the BASIC countries (China, India, South Africa, and Brazil), is not legally binding and does not commit countries to agree to a binding successor to the Kyoto Protocol, whose round ended in 2012

3 . World Bank

Government of India and the World Bank sign $310 million Loan Agreement for Jharkhand Power System Improvement Project to provide reliable, quality, and affordable 24×7 electricity to the citizens of Jharkhand


  • To end extreme poverty:

By reducing the share of the global population that lives in extreme poverty to 3 percent by 2030.

  • To promote shared prosperity:

By increasing the incomes of the poorest 40 percent of people in every country.

World Bank Group

  • The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
  • Following are the World Bank groups
  1. The International Bank for Reconstruction and Development – The world’s largest development bank, IBRD provides financial products and policy advice to help countries reduce poverty and extend the benefits of sustainable growth to all of their people.
  2. The International Development Association – The International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries. Overseen by 173 shareholder nations, IDA aims to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
  3. The International Finance Corporation – Sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries. 
  4. The Multilateral Investment Guarantee Agency – Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group with a mandate to promote cross-border investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders.
  5. The International Centre for Settlement of Investment Disputes – ​​​​​​ICSID is the world’s leading institution devoted to international investment dispute settlement. It has extensive experience in this field, having administered the majority of all international investment cases. States have agreed on ICSID as a forum for investor-State dispute settlement in most international investment treaties and in numerous investment laws and contracts.

Reports published by World Bank Group Institutions

  • Global Economic Prospect – World Bank
  • Ease of Doing Business – IBRD (World Bank)
  • World Development Report – IBRD (World Bank)

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