New Delhi: The Union Cabinet today, June 28, approved ratification of the Headquarters Agreement (HQA) between Govt of India and Coalition for Disaster Resilient Infrastructure (CDRI) inked on 22 August 2022.
The CDRI was introduced by Prime Minister Narendra Modi during the United Nations Climate Action Summit in New York on September 23, 2019. This global initiative, launched by India, serves as the country's endeavor to assume a leadership role in addressing climate change and enhancing disaster resilience.
Back on August 28, 2019, the Cabinet gave its approval for the establishment of the CDRI, along with its supporting Secretariat in New Delhi. Additionally, financial assistance of Rs480 crore was sanctioned over a span of five years, from 2019-20 to 2023-24.
Subsequently, on June 29, 2022, the Cabinet granted recognition to the CDRI as an international organization and authorized the signing of the Headquarters Agreement. This agreement ensures that CDRI receives exemptions, immunities, and privileges as stipulated under Section-3 of the UN (P&I) Act, 1947.
CDRI serves as a global partnership involving governments, UN agencies and programs, multilateral development banks, financing mechanisms, the private sector, academic institutions, and knowledge organizations. Its primary goal is to enhance the resilience of infrastructure systems to climate and disaster risks, thereby promoting sustainable development.
Since its inception, CDRI has welcomed the membership of 31 countries, six international organizations, and two private sector entities. It consistently attracts a diverse range of members, including advanced nations, developing countries, and economies most susceptible to climate change and natural disasters.
Ratifying the agreement will enable the grant of exemptions, immunities, and privileges, while also bestowing CDRI with an independent and internationally recognized legal entity. This enhanced status will facilitate CDRI's international operations and enhance its efficiency.
RBI: Banks' NPA at 10-Year Low of 3.9% in March 2023