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ISA and India sign the Host Country Agreement - ISA a juridical personality now

ISA and India sign the Host Country Agreement - ISA a juridical personality now

In news:

The International Solar Alliance (ISA) and the Ministry of External Affairs (MEA), have signed the Host Country Agreement.

The Host Country Agreement

  • It will give ISA a juridical personality and gives it power to contract, to acquire and dispose off movable and immovable properties, to institute and defend legal proceedings.
  • ISA shall enjoy such privileges, applicable tax concessions and immunities as are necessary for ISA’s Headquarter to independently discharge its function and programmes. 
  • ISA shall be deriving its status, privileges and immunities as per Article 10 of Framework Agreement.

Background:

  • The International Solar Alliance is an initiative jointly launched by the Prime Minister of India and President of France on 30th November 2015 at Paris, in the presence of the Secretary General of the UN, on the side lines of COP21 UN Climate Change Conference.
  •  The main objective of ISA is to undertake joint efforts required to reduce the cost of finance and the cost of technology, mobilize more than US $ 1000 billion of investments needed by 2030 for massive deployment of solar energy, and pave the way for future technologies adapted to the needs of 121 countries lying fully or partially between the Tropics.
  • ISA has presently four ongoing programmes: Scaling Solar Applications for Agricultural Use, Affordable Finance at Scale, Scaling Solar Mini Grids and Scaling Solar Rooftop catering to the needs of solar energy in specific areas.
  • The Framework Agreement coming into force on 6th December 2017, the ISA became the first international intergovernmental treaty based organization to be headquartered in India.
  • ISA celebrated its founding day on 11thMarch, 2018.

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