The United States of America and the Republic of India share a strong commitment to promoting economic growth and development, and regional cooperation and connectivity. In this spirit of engagement, the Millennium Challenge Corporation (MCC), a United States 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 with partner countries, hereinafter referred to as "Participants," intend to cooperate for their mutual benefit.
COMMON GOALS
The Participants share a 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. The Participants see a mutual benefit in collaborating to share information, knowledge, and technical expertise.
NATURE OF THE COOPERATION
The Participants contemplate pursuing 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 ("Partner Countries”).
The Participants may collaborate on topics and projects such as the following:
A.Exchange of information and experience in relevant sectors or issues pertaining to project development or implementation in Partner Countries;
B. 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;
C.Facilitating site visits to cross-border or other relevant projects; and
D.Capacity building of Partner Countries.
The Participants may meet periodically to discuss the status of activities conducted in connection with their cooperation and to identify additional opportunities for cooperation.
DURATION OF COOPERATION
The Participants expect the cooperation described in this Joint Statement to continue for a period of five years from the date of this Joint Statement.
Dated: January 12, 2017