India and Germany signed the Government to Government Umbrella Agreement concerning the Financial Cooperation in 2016 (II) under the Indo-German Development Cooperation.
The agreement was signed to formalize an amount up to 200 million Euros for the financial cooperation in form of loan for the project ‘Climate Friendly Urban Mobility III’ and 11 million Euros in form of grant for four projects.
The Agreement was signed by Martin Ney, Ambassador on behalf of the Federal Republic of Germany and S. Selvakumar, Joint Secretary, Department of Economic Affairs of Union Ministry of Finance.
Other agreements signed between India and Germany
In addition to the above agreement, both the sides signed few other agreements under the Indo-German Bilateral Development Cooperation:-
- The Loan Agreement was signed for the project “Community based sustainable Forest Management – Component I Manipur” was signed with KfW, Germany for a loan of 15 million Euros.
- The Project aims for the restoration of degraded forests in upper watersheds, water resources conservation and livelihood improvement of forest-dependent rural tribal people in the project area.
- India and Germany signed the Loan Agreement for the project “Madhya Pradesh Urban Sanitation and Environment Programme” for 50 million Euro as a reduced interest loan and 2.5 million euro as a grant.
- The Project aims to improve facilities for water supply, sanitation and sewerage treatment plant and improvement of surface drainage systems for flood mitigation in selected towns of Madhya Pradesh.
- The Loan Agreement was signed for the project “Sustainable Urban Infrastructure Development Odisha – Phase II”” for 55 Million Euros as a reduced interest loan with 2 Million Euros as a Grant.
- The project aims to improve Urban Infrastructure by linking them with Government priority.
- Both the sides also signed the Loan Agreement for the project “Green Energy Corridor – IntraState Transmission System in Maharashtra” for 12 million Euros in form of reduced interest loan.
- The main objective of this project is to put in place a transmission system for evacuating renewable energy