International Current Affairs MCQs - 2026-09-20

The review of the AIFTA, initiated in 2022 and concluding around 2025-2026, aimed to modernize and upgrade the agreement, making it more user-friendly, simple, and trade-facilitating, thereby boosting bilateral trade and investment.

The ASEAN-India Free Trade Area (AIFTA) is a comprehensive agreement covering trade in goods, services, and investment. The agreements on services and investment came into effect in 2015.

The ASEAN-India Free Trade Agreement (AIFTA) for goods came into effect on January 1, 2010. Agreements on services and investment followed later, coming into effect in 2015.

The Loss and Damage fund, operationalized at COP28 in 2023, is designed to provide financial assistance to developing countries that are particularly vulnerable to the adverse effects of climate change, helping them cope with the unavoidable impacts that go beyond what adaptation can address.

The Green Climate Fund (GCF) was established by the 16th Conference of the Parties (COP 16) to the UNFCCC in Cancun in 2010 and serves as a financial mechanism of the UNFCCC.

The goal for developed countries to jointly mobilize $100 billion per year by 2020 for climate action in developing countries was initially pledged at the 2009 Copenhagen Accord and later formalized in the 2010 Cancun Agreements. This target remains a central point of discussion in climate finance debates.