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India, Germany seal various loan agreements

Press Trust of India  |  New Delhi 

and today signed several agreements, including a 200 million euro funding pact for climate-friendly urban mobility project.

The 'to Umbrella Agreement' concerning financial cooperation in 2016 (II) under the Indo- German Development Cooperation was formalised here.

"An amount up to 200 million euro for the financial cooperation in form of loan for project 'Climate Friendly Urban Mobility III' and 11 million euro accompanying measures in form of grant for four projects," was signed, said an official statement.

The Part I of the agreement had already been signed in May.

In addition, four other agreements were signed between Department of Economic Affairs with KfW, under Indo- German Bilateral Development Cooperation.

One loan agreement is for the project 'Community based sustainable Forest Management Component I Manipur'. It was signed with KfW for a loan of 15 million euro.

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 other agreements were for projects namely Madhya Pradesh Urban Sanitation and Environment Programme; Sustainable Urban Infrastructure Development Odisha Phase II; and Green Energy Corridor Intra-State Transmission System in Maharashtra.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 04 2017. 17:45 IST