FOREIGN FUNDING Archives

In the midst of a severe economic crisis, the foreign minister of Sri Lanka G L Peiris came for a two day visit to India. He thanked India for providing them $2.40 billion in assistance at a "critical juncture". He said that the people of Sri Lanka look at India as their true friend. However, Tamil's Concerns did not find any mention in the bilateral statements issued by both sides. It was referred to only in the statement issued by New Delhi. Sri Lanka MFA kept absolutely mum on the contentious Tamil issue. Sri Lanka And China Threat To India The former chief minister of Sri Lanka's Jaffna now a Tamil MP C. V. Wigneswaran warned India of being deceived by Sri Lanka. He said that economically, Sri Lanka is in dire strait and caught in a debt trap by China. He faulted India's...

ArticleFinanceInternationalNews

Debt-Ridden Pakistan Looks For China To Redeem From Financial Crunch

Monomita NagFebruary 7, 20220

Pakistan seems to be expecting China to bail it out from a dire economic condition. Prime Minister Imran Khan has come to China to secure a $3 billion loan for cash trapped Pakistan and secure investments in half a dozen sectors. Pakistan wants this loan to boost its foreign exchange reserves. It needs to be mentioned in this context that Pakistan was already in receipt of $11 billion and $4 billion as commercial loans and foreign reserve deposits respectively from China earlier. What is very crucial is that last year the country had paid PKR 26 billion in the form of interest to China and PKR 794 billion paid as a trade finance facility. Additionally, the country also received a $3 billion loan from Saudi Arabia last month. Dire Economic Crises Pakistan's economic c...

BusinessFinanceIndia

FCRA Renewal: 5968 NGOs Including Jamia, IMA, IIT-Delhi License Expires; No Relief For MoC Too

Sonia SolankiJanuary 3, 20220

FCRA [Foreign Contribution Regulation Act] Renewal is making headlines across the nation. As the renewal process includes the names that has set a benchmark in our society like IIT-Delhi, Indian Medical Association and OxFam to name a few. As per sources these institutions have failed to submit for the renewal of their FCRA license. Ministry of Home Affairs have rejected license of 179 NGOs or associations including MoC [Missionaries of Charity]. That means that these 6000 NGO will not receive any foreign donations from 1st Jan 2022. FCRA Renewal Details: All NGOs have to apply for the renewal of their FCRA registration before the expiry of five year validity. The renewal executes in accordance under the Rule 12 of the Foreign Contribution Regulation Rules 2011. For the renewal al...