- In a diplomatic move to counter China's aggressive Debt Trap Diplomacy, the Ministry of External Affairs has established a Trilateral Cooperation Development Initiative. The initiative would impart infrastructure development through private sector participation supported by the Government.
- A fund called TCDF would mean the channelization of funds from the private sector as well as the governments. It would work on the PPP model for the greater financial viability of the projects to be undertaken. It would cater to both Indo-pacific and beyond.
- This move is being seen as a counter to China’s growing Ring Fence Policy whereby China has been able to secure infrastructure development in the neighborhood of India, eventually encircling India. The surrender of Hambantota port due to the Chinese Debt Trap in Sri Lanka further exacerbated the aggressive move of China.
Question:
Q.1 Which ministry has established the Trilateral Cooperation Development Fund to counter Chinese Debt Trap Diplomacy in the region?a. Ministry of Finance
b. Ministry of Communications
c. World Trade Organization
d. Ministry of External Affairs
