Germany commits record amount for development cooperation with India

Held in a positive atmosphere, the negotiations turned out to be not only fruitful & successful but created a new record as well.

This year's commitment is of INR 3,900 Crores for Green Energy Corridor II & a total commitment worth INR 5608.2 Crores in the energy sector.

Furthermore, new funding commitments of INR 78.78 Crores for projects under the umbrella of International Climate Initiative (IKI: International Klima Initiative), funded by the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) have been made.

This instrument is designed to strengthen cooperation with developing and transitioning countries for the mitigation and adaptation to climate change, and preservation of biodiversity. The IKI has been part of bilateral cooperation with the Indian government since 2008.

This year's commitment comprises INR 9044.1 Crores for Financial Cooperation projects/programs and INR 319.8 Crores for Technical Cooperation projects/programs.

Since cooperation began in 1958, the total volume of commitments of bilateral Technical and Financial Cooperation amounts to INR 93,600 Crores. It is also noted that India has always followed the agreed repayment schedule.

The Indian delegation was headed by Mr Rajesh Kumar Khullar, Joint Secretary, Department of Economic Affairs (DEA), Ministry of Finance, Government of India. The German delegation was headed by Dr, Wolfram Klein, Head of Division South Asia in the BMZ.

Development Cooperation is an integral component of Indo-German Relations. Currently the topics in focus are renewable energies, sustainable urban and industrial development, skill development, rehabilitation and cleaning of the River Ganga, improving Value Chain of agricultural products & promoting sustainable use of all natural resources.