Which Government has signed an agreement with the World Bank for USD 300 million financing on 7th Aug 2022?

Daily Current Affairs

Sri Lanka

Malaysia

Bangladesh

Afghanistan

Correct Answer : Bangladesh

The government of Bangladesh signed an agreement with the World Bank on Sunday(7th Aug 2022) for USD 300 million financing. It will help the country strengthen its local urban institutions to respond and recover from the Covid 19 pandemic and improve preparedness for future shock.

The Local Government Covid 19 Response and Recovery Project will benefit 39.9 million people in urban areas of eight districts of Bangladesh, said the World Bank in a press release on Sunday(7th Aug 2022). It will help its cities and towns to build back better as they recover from the pandemic and prepare for future shocks, including climate change, disasters, and disease outbreaks.

In addition, 329 municipalities and 10 city corporations will receive funds bi-annually from the project to improve critical urban services and infrastructures to mitigate and respond to climate change impacts, disasters, and future disease outbreaks.

The project will carry out labour-intensive public works to ensure water supply and sanitation, drainage, and other critical services. These will benefit the low-income areas, slums, and areas exposed to high disease outbreak and disaster risks. It will simultaneously create 1.5 million days of short-term work as well as jobs for 10,000 women under the public works scheme for the urban poor. .

Source : AIR

Published On : August 8, 2022

Understanding the Phenomenon “Midnight Sun”

The midnight sun, a phenomenon where the sun remains visible even at midnight, is a rare spectacle witnessed in select regions near the Arctic Circle. During specific periods of the year, these locales experience daylight stretching into the late hours of the night, creating a surreal landscape bathed in perpetual sunlight. Among these regions, one country stands out as the quintessential embodiment of this phenomenon.

Which Country is Known as “Land of Midnight Sun”?

Nestled amidst the rugged landscapes and pristine fjords of Scandinavia, Norway emerges as the quintessential “Land of Midnight Sun.” Situated on the northernmost edge of Europe, a portion of Norway lies within the Arctic Circle, where the midnight sun graces the skies during the summer months. From late May to July, certain areas of Norway bask in the radiant glow of the sun, witnessing sunset and dawn merge seamlessly without a moment of darkness in between.

Published On : April 26, 2024

Q .

India's Pharmaceutical Exports Surge to ____ Billion in FY24

$18

$23

$28

$35

Correct Answer : Option (C) - $28

India’s pharmaceutical exports witnessed robust growth in the fiscal year 2023-24, reaching $28 billion, marking a 10% increase compared to the previous fiscal year. Despite a 3% dip in total exports, the pharmaceutical sector demonstrated resilience and significant expansion.

Key Highlights

March Performance : Pharmaceutical exports in March soared by 12.73% to USD 2.8 billion, indicating a strong upward trajectory in the sector’s performance.

Year-on-Year Growth : Year-on-year, India’s drugs and pharmaceuticals exports escalated by 9.67%, totaling USD 27.9 billion in 2023-24, showcasing steady progress.

Top Export Markets : The United States, the United Kingdom, the Netherlands, South Africa, and Brazil emerged as the top five export destinations. Notably, the US accounted for over 31% of India’s total pharmaceutical exports.

Expansion into New Geographies : India’s pharmaceutical exports penetrated new markets including Montenegro, South Sudan, Chad, Comoros, Brunei, Latvia, Ireland, Chad, Sweden, Haiti, and Ethiopia, underscoring the sector’s growing global footprint.

Future Projections : Experts predict that India’s pharmaceutical industry could surpass USD 130 billion by 2030, driven by expanding market opportunities and rising demand overseas, as compared to the over USD 50 billion valuation in 2022-23.

Industry Standing : India’s pharmaceutical industry ranks third globally by volume and 13th by value, boasting a portfolio of more than 60,000 generic drugs across 60 therapeutic categories.

Government Initiatives : To bolster domestic manufacturing, the government has introduced two production-linked incentive (PLI) schemes targeting key pharmaceutical ingredients and generic medicines, aiming to enhance self-reliance and competitiveness in the sector.

Published On : April 26, 2024

Q .

Which District of Uttar Pradesh is Known as 'Land of Tigers'?

Bahraich

Baghpat

Budaun

Hapur

Correct Answer : Option (B) - Baghpat

India, with its 28 states and 8 union territories, boasts diverse regions, each with its unique cultural and geographical characteristics. Among these, certain districts stand out for their distinctive identities, contributing to the country’s rich tapestry of diversity. One such district in India is Baghpat, known as the “Land of Tigers.” Let’s delve into the features and significance of this district, nestled in the heart of the nation.

Which District of Uttar Pradesh is known as “Land of Tigers”?

Baghpat district derives its nickname, the “Land of Tigers,” from its historical roots and geographical attributes. Formerly known as “Vyagprastha,” meaning the land of tigers, the district has a rich history dating back to ancient times. The name reflects the region’s once abundant tiger population, symbolizing its untamed wilderness and natural beauty.

Geographical Significance of Baghpat, the Land of Tigers :

Nestled along the banks of the Yamuna River, Baghpat district boasts picturesque landscapes and fertile plains. The district’s proximity to the river not only enriches its agricultural prowess but also adds to its scenic charm. The Yamuna River serves as a lifeline for the region, shaping its ecosystem and sustaining its agrarian economy.

Published On : April 26, 2024