Germany will provide 125 million euro loans for green energy projects in India [ Current Affairs ]
About the agreement: Germany will provide loans worth 125 million euro which is near about 915 crore Indian Rupees for supporting two green energy projects in Himachal Pradesh and Andhra Pradesh of India.
- “Government of India and KFW (Federal Republic of Germany) signed two loan agreements worth Euro 125 Million.
- From which 57 million euro loan would be protracted to Himachal Pradesh and 68 million euro for Andhra Pradesh.
- These loan agreements were signed by S Selvakumar who is Joint Secretary in Ministry of Finance of India and Roland Sillar who is Member of KFW Board Management of Germany.
- The KFW is called as a banking group which is a German government held improvement bank, built in Frankfurt of Germany.
- KFW name is originally comes from Kreditanstalt fr Wiederaufbau which means “Reconstruction Credit Institute”.
- It was made after World War II as part of the Marshall Plan in 1948.
- It is controlled by the Federal Republic of Germany by 80 % and the States of Germany by 20%.
- KFW banking group shelters over 90 % of its deriving needs in the capital markets and it do it mainly by bonds that are assured by the federal government.
- Published on: October 7, 2015