India and the US have signed an MoU to collaborate in the fields of developmental activities and aid in third world countries. The MoU has been signed between the Millennium Challenge Corporation (MCC), and Development Partnership Administration (DPA) of the Ministry of External Affairs of India. MCC is a US agency providing eligible countries with grants to fund country-led solutions for reducing poverty through sustainable economic growth. DPA looks after implementation of India’s development cooperation programmes with partner countries.
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As per the MoU signed yesterday, the two countries would collaborate on exchange of information and experience in sectors or issues pertaining to project development or implementation in partner countries. India and US might also provide advisory or technical assistance to third countries regarding sector policy reform, project and sector management, project implementation, and economic growth promotion strategies in relevant sectors. The MoU also facilitates officials of two countries to site visits to cross-border or other relevant projects, and capacity building of partner countries.
India and US, the MoU said, share a vision of reducing poverty globally through sustainable economic growth. Based on this shared vision, they intend to cooperate with the goal of advancing their mutual interests to strengthen regional integration and connectivity, particularly in the areas of energy, trade, and investment, it said.