India and Germany inked pacts on financial and tech co-operation

Screenshot_10India and Germany signed two umbrella agreements for financial and technical co-operation, under Indo German bilateral Development Cooperation framework. The Umbrella Agreements were signed by Finance Minister P Chidambaram and German Federal Minister for Economic Cooperation and Development Gerd Mueller during their bilateral meeting.

  • The pacts were signed during an official six-day visit of German President Joachim Gauck. 

The Umbrella Agreement on Financial Cooperation refers to concessional loans from Germany for nine projects viz.

  • Himalaya Hydropower Programme (HPPCL).
  • Green Energy Corridors.
  • Promotional Programme for Energy Efficient New Residential Housing-II (NHB).
  • Energy Efficiency in Thermal Power Plants (WBPDCL).
  • Affordable Housing Programme (NHB).
  • New Approaches in Microfinance and Microenterprise Finance (SIDBI)
  • Missing Middle Programme (SIDBI).
  • Madhya Pradesh Urban Sanitation and Environment Programme.
  • HimachalPradeshForest Ecosystems Climate Proofing Project.

The Umbrella Agreement for technical cooperation refers to 13 projects in Energy, Environment and Sustainable economic development sectors, which are a priority sectors under the bilateral development cooperation between the two nations.

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Categories: International Current Affairs 2017

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