According to reports, Germany will be making available almost 900 million euros for India to be used for investment in economic development cooperation, energy generation and efficiency as well as environmental protection.
This is the major outcome of the Indo-German government negotiations on development cooperation this week in New Delhi, a press release issued by the German Embassy today said.
German Ambassador Michael Steiner said that “with the latest round of Indo-German negotiations, our development cooperation has reached an all-time high.”
Noting that India is a global power in the making and yet it faces enormous challenges in strategic areas such as economic development, energy and environment, the envoy said quick progress is a necessity.
“Germany has excellent know-how in particularly these areas. This is why we join hands and step up our cooperation right now. Sustainable development cooperation with India stands for our long-standing bilateral commitment and a partnership at eye-level,” he said.
Steiner said the commitment places the focus of Indo-German development cooperation on sustainable economic development, especially in rural areas.
Steiner said Germany will provide a loan to India to help improve energy efficiency and connection of renewable energy sources to the Indian grid.
” Germany will also continue to partner with India in the field of climate and environmental protection. For instance, targeted measures are being undertaken to reduce erosion and enhance biodiversity,” he added.