The Government to Government Umbrella Agreement on Financial Cooperation and Technical Cooperation 2017 under the Indo-German Bilateral Development Cooperation were signed here in New Delhi today. Government to Government Umbrella Agreement on Financial Cooperation was signed to formalise an amount of up to Euro 610 million Reduced Interest Loan (RIL) and Euro 5.5 million Financial grant and the Government to Government Umbrella Agreement on Technical Cooperation was signed to formalise an amount of up to Euro 38.20 million Technical grant for various projects mainly in the field of Energy, Environment and Urban Development. Hence, the total amount formalized through Umbrella

Agreements is Euro 653.7 million (approx. ₹ 5253 crore).

The Agreements were signed by H.E. Dr. Martin Ney, Ambassador on behalf of the Government of Federal Republic of Germany. Shri Sameer Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed the Agreements on behalf of the Government of India.

Government-to-government financial cooperation formalized through umbrella agreements enabling reduced-interest loans and technical and financial grants. Execution of Government-to-Government Umbrella Agreements formalizes multilayered development finance and technical assistance between India and Germany. A Financial Cooperation umbrella instrument establishes provision of a Reduced Interest Loan facility and a separate financial grant to support projects across agreed sectors. A parallel Technical Cooperation umbrella instrument establishes a technical grant facility to finance advisory, capacity-building and project-related technical inputs in target sectors, principally in Energy, Environment and Urban Development.