TestCloud
Prep • Practice • Perform
Log In

India & Panama Sign First-Ever MoU to Implement Quick Impact Projects (QIP) for Socio-Economic Development.

MOUs and Agreement | Dated: 10 Feb 2025

In February 2025, India signed a Memorandum of Understanding (MoU) with Panama for the first time to implement Quick Impact Projects (QIP) in Panama. The MoU aims to enhance socio-economic infrastructure and provide tangible benefits to Panama’s local communities.

🎯 Key Highlights:

  • - The agreement was signed by Dr. Sumit Seth, India’s Ambassador to Panama, Costa Rica, and Nicaragua, and Javier Martínez-Acha Vásquez, Panama’s Foreign Minister, in Panama City, Panama.
  • - The QIP will be supported by financial aid from the Government of India (GoI), ensuring rapid and visible community benefits.
  • - The MoU prioritizes two key sectors: Physical Infrastructure, which includes the development of roads, community centers, and essential public facilities, and Social Infrastructure, focusing on investments in healthcare, education, and sanitation to uplift local communities.

💡 Other Important Facts:

  • (i) In 2020, India provided Panama with medical aid for COVID-19 assistance.
  • (ii) In 2015, India upgraded an Information Technology (IT) center in Panama, contributing to the country’s technological advancement.

📚 Test Your Knowledge:

With which country did India recently sign its first-ever MoU to implement Quick Impact Projects (QIP) in February 2025?

Correct Answer: Panama

🚀 Quick Recap:

About Panama

  • President: José Raúl Mulino Quintero
  • Capital: Panama City