Global Development Compact by Narendra Modi: A Strategic Initiative for the Global South
Saturday, 17 August 2024, 16:08
Understanding the Global Development Compact
During the recent Virtual Voice of the Global South Summit, Prime Minister Narendra Modi proposed the creation of a Global Development Compact. This initiative is designed to address the pressing needs of developing nations by enhancing trade and technology sharing.
Key Components of the Compact
- Concessional Financing: Aimed at ensuring accessible funding for development projects.
- Promoting Food Security and Energy Security to combat critical challenges.
- Inclusive Governance: Encouraging participation from diverse stakeholders.
- Advocating for Debt-Free Development strategies to promote sustainable growth.
This global effort signifies a shift towards collaborative progress, focusing on the Global South and its unique challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.