National & International Events - Current Affairs for May, 2016

Islamic Development Bank (IDB) in May 2016 announced to open its first branch in India at Ahmedabad, Gujarat. IDB is headquartered at Jeddah, Saudi Arabia.

• The plans to set up the branch at Gujarat is part of MoU signed between India’s EXIM Bank and IDB during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016.
• As part of the MoU a 100 million dollar line-of-credit was to be given to facilitate exports to IDB's member countries.
• Besides, it also announced to provide 30 medical vans as part of IDB’s social sector initiatives.

On 25th May, 2016 Union Government shall be completing two years. During this period a number of initiatives have been launched and significant achievements made by Indian Railways in all spheres, especially in its responsiveness, accessibility and improvement of passenger amenities.

• Ministry of Railways has decided to undertake a week long RAIL HAMSAFAR SAPTAAH' from 26th May to 1st June, 2016.
• Each day of the week will focus on a particular theme and hence the days have been named as 26th May-Swachchta Diwas, 27th May-Satkar Diwas, 28th May-Sewa Diwas, 29th May-Satarkata Diwas, 30th May-Saamanjasya Diwas, 31st May-Sanyojan Diwas and 1st June-Sanchaar Diwas.

World Bank Group on 21 May 2016 launched the Pandemic Emergency Financing Facility (PEF) to protect poorest countries against deadly pandemics.

• The PEF is an innovative and fast-disbursing global financing mechanism. It will accelerate both global and national responses to future outbreaks with pandemic potential.
• It was built and designed in collaboration with the World Health Organization (WHO) and the private sector, introducing a new level of rigor into both the financing and the response.
• It includes an insurance window, which combines funding from the reinsurance markets with the proceeds of WB-issued pandemic (catastrophe, or Cat) bonds, as well as a complementary cash window.
• All 77 countries eligible for financing from the International Development Association, the World Bank Group’s fund for the poorest countries, will be eligible to receive coverage under this facility.

US President Barack Obama has felicitated a top indian American scientist and Pakistani American doctor with top national medals.

• 65 year old Rakesh K Jain of Harvard Medical school and Massachusetts General Hospital was presented with the National Medal of Science for the role in developing new strategies for manipulating tumours and translating strategies into improved detection, prevention and treatment of cancer in humans
• 53 year old Humayun, grandson of personal physician of Muhammad Ali Jinnah, received the National Medal of Technology and Innovation for inventing, developing and applying bioelectronics in medicine.
• Co-inventor of Argus Series retina implants that are intended to restore sight to the blind, Mr. Humayun is the only ophthalmologist ever to be elected a member of both US National Academies of Medicine and Engineering.

The President of India, Shri Pranab Mukherjee has extended his greetings and felicitations to the Government and people of Poland on the occasion of their National Day(May 03, 2016).
Mr. Andrzej Sebastian Duda is president the Republic of Poland.