According to reports, Germany will make available almost 900 million euros for India to be used for investment in economic development cooperation, energy generation and efficiency as well as environmental protection.
German Ambassador Michael Steiner said that “with the latest round of Indo-German negotiations, our development cooperation has reached an all-time high.”
Noting that India is a global power in the making and yet it faces enormous challenges in strategic areas such as economic development, energy and environment, the envoy said quick progress is a necessity.
“Germany has excellent know-how in particularly these areas. This is why we join hands and step up our cooperation right now. Sustainable development cooperation with India stands for our long-standing bilateral commitment and a partnership at eye-level,” he said.
Mr Steiner said Germany will provide a loan to India to help improve energy efficiency and connection of renewable energy sources to the Indian grid.
India has a diverse National Action Plan on Climate Change (NAPCC) which seeks to improve energy efficiency. Among other things, it seeks to accelerate the shift to energy efficient appliances in designated sectors through innovative measures to make the products more affordable and to create mechanisms that would help finance demand side management programmes in all sectors by capturing future energy savings. This alone is estimated to cost Rs. 74,000 crores.
NAPCC has outlined eight national missions to achieve the targets set under the plan.