Blue Dot Network

WHY IN NEWS?

With an official visit of US President, Donald Trump, in the offing, US officials are hoping India would join the US-led Blue Dot Network.

ABOUT BLUE DOT NETWORK

• Blue Dot Network is a US-led initiative is to bring governments, the private sectors, and civil societies for promoting high-quality global infrastructure development in an open and inclusive framework.
• Blue Dot Network has been jointly launched by the US Overseas Private Investment Corporation (OPIC), Australia’s Department of Foreign Affairs and Trade (DFAT), and Japan Bank for International Cooperation (JBIC).
• The Network will classify the market-driven nominated infrastructure projects which will be based on the transparency and financially sustainability in the Indo-Pacific region and around the world.
• Blue Dot Network is envisaged as an alternative development scheme to the ‘Belt and Road’ Initiative that aspires to be effective in all the areas the Belt and Road has not.
• Through Blue Dot Network, transparent, sustainable, and socially and environmentally responsible critical infrastructure has been envisaged for widespread economic empowerment.
• Defining Blue Dot appears to be somewhat ambiguous at present, with Australia’s Department of Foreign Affairs saying the scheme will provide finance and greater transparency into poorer countries across the region.
• Other officials have said it is about ensuring “principles-based” and “sustainable” investment in infrastructure, and stated that the Blue Dot Network was about providing foreign companies, often reluctant to invest in developing countries due to concerns about corruption or climate change, the right information about which projects to invest in.

Prelims Question

Q. ’Blue Dot Network’ has been launched jointly by which of the following countries?
1. USA
2. UK
3. Japan
4. Australia
Select the correct answer using the code given below:
a. 1,2 and 3 only
b. 2,3 and 4 only
c. 1,3 and 4 only
d. 1,2,3 and 4

Answer to the Prelims Question