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Government of India and the Government of the Federal Republic of Germany Sign Government to Government Umbrella Agreement

Capital Market 

The to Umbrella Agreement between the of and the of the Federal Republic of concerning Financial Cooperation in 2016 (II) under the Indo-German Development Cooperation was signed here today to formalize 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 H. E. Dr. Martin Ney, Ambassador on behalf of the Federal Republic of Shri S. Selvakumar, Joint Secretary, Department of Economic Affairs, Ministry of signed the Agreement on behalf of the of The Part I of the Agreement had already been signed in May, 2017.

In addition to the above, the following Loan Agreements were signed between Department of Economic Affairs with KfW, under the Indo-German Bilateral Development Cooperation :-

(a) Loan Agreement for the project Community based sustainable Forest Management - Component I Manipur was signed with KfW, 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.

(b) 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. 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.

(c) 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 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.

(d) Loan Agreement for the project Green Energy Corridor - Intra-State Transmission System in Maharashtra for EUR 12 million Reduced Interest loan. The broad objective of this project is to put in place a transmission system for evacuating renewable energy.

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First Published: Mon, December 04 2017. 15:19 IST