India-Germany sign Rs 5250 cr agreement

India-Germany sign Rs 5250 cr agreement

Agency News

Completing 60 years of successful development cooperation, India and Germany on Wednesday signed an agreement on financial and technical cooperation, with a volume of Rs 5250 crore.

The agreement will include projects with a focus on sustainable urban development that include urban mobility, climate resilience that would go in tune with the government's Smart Cities initiative. This will also support cleaning of river Ganga, helping the government to expand solar energy and in disseminating energy efficiency measures, a German Embassy official statement said here.

The agreement on financial and technical cooperation within the framework of Indo-German development cooperation was signed by German Ambassador Martin Ney and Joint Secretary, Department of Economic Affairs, Ministry of Finance Sameer Kumar Khare here, on the 60th anniversary of the bilateral development cooperation between the two nations.

In December last year, Germany pledged 1055 million Euros (around Rs 8500 crore) for the development cooperation during the Indo-German inter-governmental negotiations here. (UNI)