Blue Dot Network

Explanation :

• The Blue Dot Network (BDN) was formally announced on 4^th November, 2019 at the Indo-Pacific Business Forum in Bangkok, Thailand.
• It is formed by USA, Japan and Australia to prevent small countries from debt trap of China. It's actually a Michelin Guide organisation.
• The aim of this initiative is to evaluate and certify nominated infrastructure projects based upon adherence to commonly accepted principles and standards to promote market-driven, transparent, and financially sustainable infrastructure development in the Indo-Pacific region and around the world.
• It is a multi-stakeholder initiative to bring together governments, the private sector and civil society to promote high-quality, trusted standards for global infrastructure development.
• The network is “ratings mechanism” that would grade infrastructure projects in the Indo-Pacific region on different parameters to ensure transparency and is planned as direct counter to China’s Belt and Road Initiative (BRI).
• However, unlike the BRI, the BDN would not offer public funds or loans for the project.