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India, Germany commit to development cooperation in Energy sector
© dpa - Report
Indo-German partnership in development cooperation

May 23, 2008

Under the two umbrella agreements signed this week, Germany has committed €302 million for economic development and cooperation to India.

The Department of Economic Affairs (DEA) in the Ministry of Finance, GoI, and the German Ministry of Economic Cooperation and Development held inter-governmental consultations on development cooperation on May 21 and 22 in New Delhi.

Two umbrella agreements were signed during the meeting, sealing the 2007 commitment worth €302 million (almost Rs 2,000 crores). A joint strategy paper was discussed outlining the priority areas, consistent with GoI’s 11th five year plan, for the years ahead: energy, environment and sustainable economic cooperation.

Both sides renewed their commitment to contribute to the Millennium Development Goals. Since 1958, the Federal Republic of Germany has made available more than €8 billion to the Republic of India. While in 1990s, the annual commitments were in the range of €60-80 million, Germany has enhanced its engagement in India by committing overall funds of €352 million in 2005, €240 million in 2006 and €302 million in 2007. Ino-German Milestone projects include the Rourkela steel plant as well as the IIT-Madras.

In 2008 the Indo-German Development Cooperation celebrates its 50th anniversary. On this occasion, German Federal Minister for Economic Cooperation and Development Heidemarie Wieczorek-Zeul is expected to visit India later this year.



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