India and Germany on August 1, 2018 signed an agreement on financial and technical cooperation, with a special focus on sustainable urban development and renewable energy.
The agreement was signed between German Ambassador to India, Martin Ney and Joint Secretary, (Department of Economic Affairs), Finance Ministry, Sameer Kumar Khare.
The agreement mainly prioritises cooperation between India and Germany in the area of renewable energy.
It also focuses on cooperation in sustainable urban development in areas of sanitation, solid waste management and promotion of urban mobility.
The bilateral agreement will help reduce the emission of greenhouse gases and also help India in achieving its goal of curbing such emissions.
In December 2017, Germany had pledged nearly Rs 8,500 crore for the development cooperation with India during Indo-German inter-governmental negotiations.
In February 2018, a MoU was signed between Union Ministry for Housing and Urban Affairs and the German development agency (GIZ) to develop and apply concepts for sustainable urban development providing urban basic services and housing in select cities as well as smart cities in India.
GIZ had agreed to contribute up to €8 million for the project which would run for a period of three years.
Overall, the year 2018 commemorates 60 years of bilateral development cooperation between India and Germany.
What: Sign agreement
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