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India and Germany have signed a bilateral agreement for financial and technical cooperation
Feb 06, 2014

The German Federal Minister for Economic Cooperation and Development Gerd Mueller and Finance Minister of India P Chidambaram signed an Umbrella Agreement under Indo German bilateral Development Cooperation for financial and technical cooperation On the occasion of the visit of German president Joachim gauck.

Germany committed funds amounting to 1.09 billion euro, which is highest ever commitment so far since1958.

The Umbrella Agreement on Financial Cooperation pertains to concessional loans from Germany for nine projects, including :

a) Himalaya Hydropower Programme (HPPCL),

b) Energy Efficiency in Thermal Power Plants (WBPDCL),

c) Affordable Housing Programme (NHB) and

d) New Approaches in Microfinance and Microenterprise Finance (SIDBI).

The agreement for technical cooperation pertains to thirteen projects in energy, environment and sustainable economic development sectors, which are priority sectors under bilateral development cooperation over a period of more than fifty years.


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