Daily Current Affairs 2021 Cabinet approves MoC between India and Japan in the field of Sustainable Urban Development | Daily Current Affairs 2021

Cabinet approves MoC between India and Japan in the field of Sustainable Urban Development

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India and Japan

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi approved the Memorandum of Cooperation (MoC) on Sustainable Urban Development between India and Japan by suspending the existing MoU of 2007 on Urban Development.

Implementation:

  • A Joint Working Group (JWG) will be constituted to strategize and implement programmes on cooperation under the framework of the MoC.
  • The JWG will meet once in a year, alternately in Japan and in India.
  • Cooperation under MoC will continue for a period of 5 years, which can be auto-renewed for 5 years at a time.

Significance of the MoC:

  • The MoC will promote strong, deep, and long-term bilateral cooperation in the field of Sustainable Urban Development between the two countries.
  • It is expected to create employment opportunities in listed areas of sustainable urban development including Urban Planning, affordable housing, rental housing, Smart Cities Development, Urban Flood Management, water management, Sewerage & Waste Water Management, Disaster Resilient development, and Urban Transport (including Intelligent Transport Management System, Transit-Oriented Development and Multimodal Integration).

Objectives of the MoC:

  • The main objective of the MoC is to facilitate and strengthen India-Japan technical cooperation in the field of sustainable urban development and other listed areas such as Urban Planning, Smart Cities Development, Affordable Housing (including rental housing), Urban Flood Management, Sewerage, and Waste Water Management, Intelligent Transport Management System, Transit-Oriented Development, Multimodal Integration, Disaster Resilient development as mutually identified by both Sides.
  • It will also enable an exchange of key learning and best practices in the above-listed areas

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