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Indo-German consultation meeting for development co-operation tomorrow
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Indo-German consultation meeting for development co-operation tomorrow

The annual Indo-German consultation meeting for development co-operation will be held in New Delhi on Thursday to discuss the new projects for funding by Germany in 2007.

New Delhi, May 2 : The annual Indo-German consultation meeting for development co-operation will be held in New Delhi on Thursday to discuss the new projects for funding by Germany in 2007.

The umbrella agreements for technical and financial cooperation in respect of projects committed in 2006 will also be signed at the meeting by Finance Ministry Joint Secretary Kumar Sanjay Krishna and Bernd Mutzelburg, the German Ambassador to India.

The agreements entail German development assistance amounting to Rs.1450 crore (240 million euros).

German development co-operation is an important component of bilateral economic relations between India and Germany. The two countries are doing well in improving the bilateral trade, which has already crossed the agreed target of 10 billion dollars (to be reached in 2010) well in advance by four years in 2006.

The development cooperation portfolio supports a number of activities that promote investment in India particularly in infrastructure sector, including a JWG on Infrastructure and FC/TC support to various projects in power, road and railways sectors.

The bilateral development co-operation with Germany has been an example of excellent bilateral cooperation, innovation and alignment of development priorities. The German development cooperation portfolio is closely aligned with India's development guidelines as laid out in 11th Five Year Plan.

In 2005, new priority areas of Indo-German development cooperation were mutually agreed upon, which focus on energy (energy efficiency and renewable energy), environmental protection and sustainable use of natural resources and economic reforms (micro financing, cooperation, banking, SME financing).

The Indo-German development cooperation has been historically important having the roots in the German FC support to Rourkela Steel Plant in 1958. Since then, it has led to development of longstanding and fruitful partnerships in health, infrastructure development, rural development, poverty alleviation, economic reforms, consumer protection, environmental protection, SME development and other relevant sectors.

Germany is the pioneer in providing useful technical assistance to India in the important area of energy efficiency. In fact, the road map of the Bureau of Energy Efficiency (BEE) has largely been laid out with the German technical assistance. Germany is also supporting important power sector projects, both hydro and thermal, in Uttaranchal, Andhra Pradesh and Madhya Pradesh.

Recently, an Indo-German Energy dialogue to support the development cooperation has been launched by the two sides. Besides this, German technical assistance in the sphere of micro-financing through NABARD and creation of self-help groups under various German-assisted projects are some notable co-operations.

ANI

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