India and Germany sign Govt- to-Govt umbrella agreement

NEW DELHI: The Government-to-Government Umbrella Agreement between the Government of India and the Government of the Federal Republic of Germany concerning Financial Cooperation in 2016 (II) under the Indo-German Development Cooperation was signed here on Monday to formalise an amount up to Euro 200 million for the Financial Cooperation in form of loan for the project ‘Climate Friendly Urban Mobility III’ and Euro 11 million Accompanying measures in form of grant for four projects.

The Agreement was signed by Martin Ney, Ambassador on behalf of the Federal Republic of Germany. S Selvakumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed the Agreement on behalf of the Government of India.

The Part I of the Agreement had already been signed in May, 2017. In addition to the above, Loan Agreements were also signed between Department of Economic Affairs with  KfW, Germany under the Indo-German Bilateral Development Cooperation. Loan Agreement for the project ” Community based sustainable Forest Management ? Component I Manipur” was signed with KfW, Germany for a loan of Euro  15 million.

The broad objectives of the Project are restoration of degraded forests in upper watersheds, reclamation of abandoned shifting cultivation areas, biodiversity conservation, water resources conservation and livelihood improvement of forest dependent rural tribal people in the project area.

The second Loan Agreement for the project “Madhya Pradesh Urban Sanitation and Environment Programme” for Euro 50 million Reduced Interest Loan and Euro 2.5 million grant was also signed.

The broad objective of the Project is to improve facilities for water supply, sanitation and sewerage treatment plant in selected towns of Madhya Pradesh, improve solid and liquid waste management and disposal systems, improvement of surface drainage systems for flood mitigation in selected towns of Madhya Pradesh.

The third Loan Agreement for the project “Sustainable Urban Infrastructure Development Odisha ? Phase II for EUR 55 Million Reduced Interest Loan with EUR 2 Million as Grant.

The basic objective of the project is to improve Urban Infrastructure by linking them with Government priority. The broad objective of the Project is to improve the urban infrastructure of Odisha and to provide better quality of life to the people. (AGENCIES)


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