India-Germany inks Euro 200-mn infra ventures

Formalizing financial cooperation between the two countries, India has recently inked a joint venture agreement worth Euro 200 million in the form of loan for the multiple infra projects including Climate Friendly Urban Mobility III with Germany. The agreement also covered EUR 11 million for accompanying measures in the form of grant for four projects for which part I of the agreement had already been signed about six months ago. The agreement included a loan agreement for community based sustainable forest management including a component I Manipur" for EUR 15 million. The agreement for the project included a grant for Sustainable Urban Infrastructure Development Odisha - Phase II for EUR 55 million at reduced interest loan with EUR 2 Million. The basic objective of the project is to improve urban infrastructure by linking them with government priority. The broad objectives of the project are restoration of degraded forests in upper watersheds, reclamation of abandoned shifting cultivation areas, biodiversity conservation, water resources conservation and livelihood improvement of forest dependent rural tribal people in the project area. Similarly, a loan agreement for the project for Urban Sanitation and Environment Program for EUR 50 million reduced interest loan and EUR 2.5 million grants. The objective of the project is to improve facilities for water supply, sanitation and sewerage treatment plant in selected towns of Madhya Pradesh, improve solid and liquid waste management and disposal systems, improvement of surface drainage systems for flood mitigation in selected towns of the state.