Q. Consider the following statements regarding the Eastern Economic Forum (EEF):
1. EEF was established in 2010 and forum conducts its meetings biannually.
2. India pledged to extend $ 10 billion line of credit to Russia’s far eastern region at 5th EEF.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: D

The Eastern Economic Forum was established by decree of the President of the Russian Federation Vladimir Putin in 2015 to support the economic development of Russia’s Far East and to expand international cooperation in the Asia-Pacific region. 

Unveiling the Russian edition of India’s ‘Look East, Act East’ policy, Prime Minister Narendra Modi pledged on September 2019 to extend a $1 billion Line of Credit to Russia’s Far East region (RFE).  

Source: The Hindu