India and Germany inked pacts on financial and tech co-operation

India and Germany signed two umbrella agreements for financial and technical co-operation, under Indo German bilateral Development Cooperation framework. The Umbrella Agreements were signed by Finance Minister P Chidambaram and German Federal Minister for Economic Cooperation and Development Gerd Mueller during their bilateral meeting.

• The pacts were signed during an official six-day visit of German President Joachim Gauck.

The Umbrella Agreement on Financial Cooperation refers to concessional loans from Germany for nine projects viz.

• Himalaya Hydropower Programme (HPPCL).
• Green Energy Corridors.
• Promotional Programme for Energy Efficient New Residential Housing-II (NHB).
• Energy Efficiency in Thermal Power Plants (WBPDCL).
• Affordable Housing Programme (NHB).
• New Approaches in Microfinance and Microenterprise Finance (SIDBI)
• Missing Middle Programme (SIDBI).
• Madhya Pradesh Urban Sanitation and Environment Programme.
• HimachalPradeshForest Ecosystems Climate Proofing Project.

The Umbrella Agreement for technical cooperation refers to 13 projects in Energy, Environment and Sustainable economic development sectors, which are a priority sectors under the bilateral development cooperation between the two nations.