Current Affairs - International

The WE WISE initiative, focused on promoting women in innovation, science, and entrepreneurship, was launched by the Women Empowerment Vertical of the BRICS Chamber of Commerce and Industry (CCI). This initiative is designed to support women in taking leadership roles in technology-driven fields, particularly artificial intelligence. The program was unveiled during the BRICS Women Business Alliance (WBA) Annual Plenary Meeting held in Brazil. By encouraging female leadership in emerging tech sectors, BRICS aims to foster inclusive growth and diversify leadership representation in science and business within its member nations.

The Grand Renaissance Dam, recognized as Africa’s largest hydroelectric power plant, has been completed by Ethiopia. The dam is strategically constructed on the Blue Nile, a major tributary of the Nile River, which originates from Lake Tana in the Ethiopian Highlands. This massive project highlights Ethiopia’s ambition to harness its water resources for sustainable energy development. The Blue Nile flows northward to join the White Nile at Khartoum in Sudan, forming the Nile River, which then continues through Egypt. The dam has been a focal point of regional discussions due to its potential impact on water distribution and regional geopolitics.

Colombia and Uzbekistan became the newest members of the New Development Bank (NDB) just before the 17th BRICS Summit, increasing the total membership to 11 countries. Their inclusion marks a strategic expansion of the NDB, reflecting its growing global reach and commitment to supporting development in emerging economies. Originally formed by the BRICS nations in 2015, the NDB has since welcomed several countries outside the BRICS core. With Colombia and Uzbekistan on board, the bank aims to strengthen ties with the Global South and provide more infrastructure and development financing, particularly in areas like digital technology, clean energy, and sustainability.

The 17th BRICS Summit in 2025 was hosted by Brazil in the city of Rio de Janeiro and attended by Prime Minister Narendra Modi along with other BRICS leaders. The summit served as a critical platform for discussing reforms in global governance, addressing issues of peace and security, and promoting the role of the Global South. One of the key themes was the future of Artificial Intelligence and strengthening cooperation among BRICS nations. Brazil’s hosting of this summit underlined its importance in international diplomacy and its role in shaping multilateral efforts for global reform, especially on matters like UN restructuring and AI governance.

The 4th International Conference on Financing for Development (FFD4) took place in Seville, Spain. At this global event, India’s Finance Minister stressed the importance of reforming sovereign credit rating systems and multilateral development banks (MDBs). The aim of these reforms is to create a more equitable and inclusive financial system that supports sustainable development for all nations. By highlighting these issues on an international platform, India is advocating for fairer evaluation standards that can help developing countries access funding and investment more easily, thereby reducing reliance on outdated and often biased financial metrics established by Western institutions.