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'Blue Dot' Network

  • Category
    International Relations
  • Published
    21st Jun, 2021

The US, along with the Japanese and Australian governments, are reviving the 'Blue Dot Network'

  • It is infrastructure initiative to provide an alternative to China's Belt and Road Initiative (BRI).

Context

The US, along with the Japanese and Australian governments, are reviving the 'Blue Dot Network'

  • It is infrastructure initiative to provide an alternative to China's Belt and Road Initiative (BRI).

About

About ‘Blue Dot Network’

  • The Blue Dot Network was formally announced on 4 November 2019 at the Indo-Pacific Business Forum in Bangkok, Thailand during the 35thASEAN summit.
  • The project is led by the US’s International Development Finance Corporation (DFC).
  • Objective: The initiative is meant to galvanize the private sector investment in infrastructure development in emerging markets.
    • It is expected to serve as a global evaluation and certification system for roads, ports, and bridges with a focus on the Indo-Pacific region.
    • The projects that are approved will get a “Blue Dot”, which would set universal standards of excellence to attract private capital to projects in developing and emerging economies.
    • It will be a globally recognized symbol of market-driven, transparent and sustainable infrastructure projects.
    • It will foster sustainable economic growth by promoting excellence in infrastructure development and supporting alternatives to predatory lending.
  • Principles: The Blue Dot Network will use infrastructure development principles set by the G20 and G7 nations as a foundation for its standards.
  • Support: OECD will provide technical and operational input to the global certification process.

Belt and Road Initiative (BRI)

  • It is also known as the One Belt One Road (OBOR) initiative.
  • It is a global infrastructure development strategy adopted by China in 2013.
  • It aims to invest in nearly 70 countries and international organizations.
    • The infrastructure investments include ports, skyscrapers, railroads, roads, airports, dams, and railroad tunnels.
  • The initiative includes the ancient ‘silk route’ revival and the maritime silk route also.

What role does India has to play?

The US wants India on board for the project, as it remains the only member of the Quadrilateral Security Dialogue (Quad) to not be a part of the Blue Dot Network.

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