,▶️What is Xingkong-2 ❓❓❓
* It is cutting-edge hypersonic “waverider” flight vehicle being developed by China.
* Waverider is flight vehicle that flies in atmosphere and uses shockwaves generated by its own hypersonic flight with air to glide at high speed.
* It can carry can carry both conventional and nuclear warheads.
* It has capability to penetrate any current generation anti-missile defence systems due to its high speed and unpredictable trajectory.
* As compared to it, current generation of anti-missile defence systems is mainly designed to intercept cruise and ballistic missiles which are either slower or easier to predict, making them possible to intercept.
▶️What is Concessional Financing Scheme (CFS)❓
🌀Aim is to provide concessional finance for investment in strategic important projects abroad.
Scheme:
* CFS was launched in 2015-16.
* Under CFS, Ministry of External Affairs (MEA) selects specific projects keeping in view strategic interest of India and sends same to Department of Economic Affairs (DEA).
* The strategic importance of project to deserve financing is decided on case to case basis, by Committee :
* Chaired by Secretary, DEA and with members from
* Department of Expenditure and Department of Financial Services, Ministry of Finance;
* MEA;
* Department of Industrial Promotion and Policy (DIPP), Ministry of Commerce and
* Ministry of Home Affairs.
* Deputy National Security Adviser (Dy NSA)
* Once project is approved by Committee, DEA issues formal letter to Export-Import (EXIM) Bank conveying approval for financing of project.
* The Scheme is presently being operated through EXIM Bank, which raises resources from market to provide concessional finance.
* Union Government provides counter guarantee and interest equalization support of 2% to EXIM Bank to offer concessional finance to any foreign Government or its owned or controlled entity, if any Indian entity, succeeds in getting contract for execution of project.
* EXIM Bank can extend credit at rate not exceeding LIBOR (avg. of six months) + 100 bps.
* The repayment of loan is guaranteed by foreign government.
* Government has approved first extension of Concessional Financing Scheme (CFS) for another five years from 2018 to 2023 to support Indian Entities bidding for strategically important infrastructure projects abroad.
* The scheme also has been liberalized, allowing any Indian company, irrespective of ownership eligible to benefits of it.
Why such scheme is needed❓
* Prior to introduction of CFS, Indian entities were not able to bid for large projects abroad cost of financing was very high for them and bidders from other countries such as China, Japan, Europe and US were able to provide credit at superior terms (i.e. lower interest rate and longer tenures giving advantage to bidders from those countries).
* Union Government is executing CFS since 2015-16 to support Indian entities bidding for strategically important infrastructure projects abroad.
* CFS has enabled India to generate substantial backward linkage induced jobs, demand for material and machinery in India and also created lot of goodwill for India.
▶️Transiting Exoplanet Survey Satellite (TESS)❓
* NASA's project.
* TESS is designed to find potential planets orbiting stars close to Earth.
* It will identify such planets by spotting decreased brightness of stars after planet passes in front of it.
* The primary mission objective of TESS is to survey brightest stars near Earth for transiting exoplanets over two-year period.
* With help of TESS, it will be possible to study mass, size, density and orbit of large cohort of small planets, including sample of rocky worlds in habitable zones (goldilocks zone) of their host stars.
* This will reveal whether planets are rocky (like Earth), gas or jovian giants (like Jupiter) or something even more unusual.
▶️Asia-Pacific Institute for Broadcasting Development (AIBD)
* AIDB is regional inter-governmental organisation serving countries of United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in field of electronic media development.
* It was established in 1977 under auspices of UNESCO.
* It is hosted by Government of Malaysia and its secretariat is located in Kuala Lumpur.
* AIBD is mandated to achieve vibrant and cohesive electronic media environment in Asia-Pacific region through policy and resource development.
* Currently it has broadcasters from 26 full member countries, represented by 34 organisations and 67 Affiliate Members (organisations) and over 50 partners in Asia, Pacific, Europe, Africa, Arab States and North America
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