India and Sweden launched a joint programme that will work towards addressing a range of challenges around smart cities and clean technologies among others. The programme was co-funded by Indian Department of Science and Technology (DST) and Swedish agency Vinnova.
Vinnova will provide funding to Swedish participants up to 2,500,000 Swedish Krona (around Rs1.87 crore) as a grant. On the Indian side, a conditional grant of up to 50% (with a limit of Rs1.5 crore) per project will be provided to the Indian partners.
Source- The Hindu Business Line
Static/Current Takeaways Important For LIC AAO Mains Exam:
- Sweden Capital: Stockholm, Currency: Swedish krona.