Germany, India sign agreements for renewable energy, sustainable development
German Development Minister Dr. Gerd Müller is accompanying Federal President Joachim Gauck during his state visit to India. On Wednesday, 5 February 2014, for the first time agreements on development cooperation with India were signed as part of such a high-ranking visit. Together with Indian Finance Minister Chidambaram, Minister Müller signed two agreements totaling almost 900 million euros (including 5.45 million euros for consultancy projects of the German Environment Ministry). Almost all of this funding is being provided in the form of loans.
After the signing of the agreements, Minister Müller highlighted their importance for bilateral development cooperation. "We have adjusted our cooperation instruments in line with the times. India is an emerging economy that still requires high levels of investment. At the same time, it is an equal partner for us. By focusing our cooperation on energy efficiency and renewable energy, sustainable use of natural resources and inclusive growth, we are addressing issues that are important for the future of both of our countries. And we are tackling major challenges, such as climate change mitigation and poverty reduction in a country that is home to the largest number of poor people worldwide."
The Indo-German agreements that have been signed include a commitment for 250 million euros to support the feeding of power from renewable sources into India's grid. At the second Indo-German intergovernmental consultations at Cabinet level held in Berlin in April 2013, the German side promised a total of one billion euros in support of this flagship project (referred to as "Green Energy Corridors").