India
and Germany on 5 February 2014 signed two umbrella agreements for financial
and technical co-operation under Indo German bilateral Development
Cooperation framework. P Chidambaram,
the Union Finance Minister and Gerd
Mueller, the German Federal Minister for Economic Cooperation and Development
signed the pacts during their bilateral meeting.
These
agreements were signed during an official visit of Joachim Gauck the
President of Federal Republic of Germany is on a six day (4-9 February
2014) State Visit to India. President Joachim Gauck is being accompanied by a
high-level delegation including Ministers, Member of Parliament and business
leaders. The Umbrella Agreement on Financial Cooperation pertains to concessional
loans from Government of Germany for nine projects, namely
•
Himalaya Hydropower Programme (HPPCL)
•
Green Energy Corridors
•
Promotional Programme for Energy Efficient New Residential Housing-II (NHB)
•
Energy Efficiency in Thermal Power Plants (WBPDCL)
•
Affordable Housing Programme (NHB)
•
New Approaches in Microfinance and Microenterprise Finance (SIDBI)
•
Missing Middle Programme (SIDBI)
•
Madhya Pradesh Urban Sanitation and Environment Programme
•
Himachal Pradesh Forest Ecosystems Climate Proofing Project
The
Umbrella Agreement for technical cooperation pertains for to 13 projects
in Energy, Environment and Sustainable economic development sectors, which are
a priority sectors under the bilateral development cooperation between the two
nations. The two sides also appreciated the constructive engagement between two
countries under development cooperation framework. The Germany Government has
also committed for funds amounting to 1.09 billion Euro, which is the ever
highest ever commitment so far since 1958.
India and Germany relations
India
and Germany have a cordial and close relation. Since 2000, the two countries
are strategic partners. Significant progress in all areas of bilateral
cooperation through regular high-level exchanges at the Head of Government
level started with the commencement of the Inter-Governmental Consultations on
2011. The two countries have also had exchanges in cooperation in strategic
areas, growing economic and commercial ties and increased interaction in the
fields of education, science and technology, culture and people-to-people
relations. At present Germany is the largest trading partner for India in
Europe and the two nations also work together closely in the international
arena.
