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Regional Cooperation- IORARC Special Fund receives USD $ 1 million

Date: June 28, 2012
Domain:Foreign Affairs; International Relations
Persona: Government

GIS - June 28, 2012: A cheque of USD $ 1 million was handed over by the Government of India to the IOR-ARC on 26 June 2012 at the IOR-ARC Secretariat premises in Ebène.
India had announced a contribution of USD $1 million to the IOR-ARC Special Fund during the last Council of Ministers’ Meeting held in Bengaluru in November 2011.
The Secretary (West), Ministry of External Affairs, Government of India, Mr M. Ganapathi, handed over the cheque to the Secretary General of IOR-ARC, Ambassador K. V Bhagirath, during a ceremony held in the presence of Mr. A. P. Neewoor, Secretary for Foreign Affairs, Government of Mauritius and the High Commissioner of India in Mauritius, Mr. T. P. Seetharam.
In his address, Mr Ganapathi said that India attaches great importance to its engagement within IOR-ARC.  ‘It is with a great sense of responsibility and commitment that India assumed the Chair of IOR-ARC at the 11th Council of Ministers meeting in Bengaluru last year. Our objective is to re-energise IOR-ARC and mould it in a manner that can serve interests of its members’, he stressed.
For his part, Mr Bhagirath, expressed his belief that with the full commitment of the 19 IOR Member States, including India as Chair and Mauritius as host country, new programs of cooperation can be initiated, especially in IOR’s newly re-prioritised areas  such as maritime security, trade facilitation and fisheries management.
Mr. T. P. Seetharam observed that any organisation needs resources to run its projects and expressed hope that the contribution from India will help IOR-ARC in achieving its goals.
Ambassador Neewoor dwelt on the history of the formation of IOR-ARC and reiterated the commitment of the Mauritian Government as host country for the Secretariat.  He also pressed Member States to have a Trade and Investment promotion in the region.
The Special Fund
The Special Fund was established in 2008 as a financial mechanism for supporting and complementing the funding of Projects and Programmes adopted by the IOR-ARC.
The Special Fund contributes to the Association's objectives through the provision of funds and assists members in their fund-raising for the feasibility study as well as the implementation of approved projects.
Government Information Service, Prime Minister’s Office, Level 6, New Government Centre, Port Louis, Mauritius. Email: Website:Government Information Service
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