|
|
India for separate norms on aid by developing nations
|
|
|
|
Top Stories |
|
|
|
|
Arul Louis | 30 Oct, 2014
Aid provided by
developing countries to their counterparts cannot be subjected to the same
norms set for assistance from developed countries, India told a UN General
Assembly committee that deals with economic and financial matters Wednesday.
Amit Narang, a counsellor at India's UN mission, criticised what he said were
attempts to develop "universal norms for all development assistance in
order to have standard benchmarks for the identification, delivery and evaluation
of South-South flows on par with North-South aid."
"South-South Cooperation is demand-driven, free of conditionalities and
responds to the developmental priorities of partner countries," he said,
laying out objections to imposing similar standards. "While perhaps both
models can learn from each other, such an approach of binding down uniform
standards, if pursued obsessively, runs the risk of diluting the richness and
diversity of development experience-sharing between developing countries which
is the hallmark of South-South cooperation."
The Asian Infrastructure Investment Bank is an example of an institution facing
criticism over "uniform standards." The financial institution set up
last week by India and 20 other countries for enhancing South-South
cooperation, has met with objections from the United States, reportedly because
it may not have the stringent uniform environmental,
labor, social and lending standards that Washington requires for such
institutions.
Differentiating the two types of aid, he said the cooperation among the
developing countries of the Southern hemisphere - or South-South - "is
more in the nature of a voluntary partnership among equals" and those
flowing from the industrialised North to the South - North-South - is due to
"a historic responsibility."
"It is also for this reason that both these trends, of trying to get
South-South flows replace North-South aid and to attempt to harmonize their
standards are misplaced," he said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|