A loan agreement has been signed between India and Germany for providing additional funding of EUR 20 million for the Pare Hydroelectric Plant project under Indo-German Bilateral Development Cooperation.
The objective of the project is the generation of hydroelectric power for the socio-economic development of the North Eastern region. The government of Germany signed a loan agreement with North Eastern Electric Power Corporation (NEEPCO) for providing EUR 80 million with the government of India’s guarantee for the Pare Hydroelectric Plant project.
Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
- Germany Capital- Berlin, Currency- Euro, Chancellor- Angela Merkel.
Source- The Indian Express