India, US agree to cooperate in reducing poverty through sustainable economic growth

New Delhi [India], Jan. 14 : The United States and India have agreed to cooperate in the Millennium Challenge Corporation (MCC) with a common aim of reducing poverty globally through sustainable economic growth.

MCC is a U.S. government agency that provides eligible countries with grants to fund country-led solutions for reducing poverty through sustainable economic growth, and the Development Partnership Administration of the Ministry of External Affairs of India, which looks after the implementation of India's development cooperation programmes.

The Participants have a shared 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.

Participants may collaborate on topics and projects a range of activities designed to promote sustainable economic growth; identifying and developing strategic opportunities; and cooperating at the country or regional level in mutually-identified countries or regions.

"Exchange of information and experience in relevant sectors or issues pertaining to project development or implementation in Partner Countries; Providing advisory or technical assistance to partner countries regarding sector policy reform, project and sector management, project implementation, and economic growth promotion strategies in relevant sectors; facilitating site visits to cross-border or other relevant projects; and capacity building of partner countries," the official release stated.

The Participants expect the cooperation to continue for a period of five years..

Source: ANI