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Tuesday, 5 December 2017

India and Germany Sign Govt- to-Govt Umbrella Agreement


The Government to Government Umbrella Agreement between India and Germany concerning Financial Cooperation in 2016 (II) under the Indo-German Development Cooperation was signed 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 4 projects under the Agreements signed are as follows-
i. Loan Agreement for the project “Community based sustainable Forest Management – Component I Manipur” was signed for a loan of Euro  15 million.
Objectives- Restoration of degraded forests, reclamation of abandoned shifting cultivation areas, biodiversity & water resources conservation.

ii. 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.
Objective - To improve facilities for water supply, sanitation and sewerage treatment plan.

iii. 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.
Objective - To improve Urban Infrastructure by linking them with Government priority.

iv. Loan Agreement for the project “Green Energy Corridor – Intra-State Transmission System in Maharashtra” for EUR 12 million Reduced Interest loan.
Objective - To project is to put in place a transmission system for evacuating renewable energy.

Static/Current Takeaway Points Important for IBPS PO Mains 2017 Exam-
  • Germany capital- Berlin. Chancellor of Germany- Angela Merkel.
Source-PIB (Press Information Bureau)

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