India, Germany Sign Agreement to Formalise EUR 200 Million for Financial Cooperation

India, Germany Sign Agreement to Formalise EUR 200 Million for Financial Cooperation

December 4 (ANI): India and Germany on Monday signed a Government to Government Umbrella Agreement concerning Financial Cooperation in 2016 (II) under the Indo-German Development Cooperation.

With this in place, an amount of up to EUR 200 million will be formalised for financial cooperation in the form of loan for the project ‘Climate Friendly Urban Mobility III’ and EUR 11 million for accompanying measures in the form of grant for four projects.

The agreement was signed by H.E. Dr. Martin Ney, Ambassador on behalf of the Federal Republic of Germany, and S. Selvakumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of India. Read More…

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