India, Germany step up cooperation in energy, climate

New Delhi: India and Germany have signed two agreements which will lead to enhanced cooperation in energy, environment protection and social sectors.

"Two umbrella agreements amounting to a total of about 500 million euros were signed by German ambassador Thomas Matussek and Prabodh Saxena, joint secretary in the ministry of finance," a German embassy statement said here.

While 95 per cent of the amount, approximately, will consist of preferential loans, the rest will be grants.

The statement said the agreements bring into force the commitments made by the German government in the annual Indo-German government negotiations held in November 2010 in Bonn.

The agreements will focus on projects related to protecting the environment and addressing concerns on climate change by using renewable energy and by improving the efficiency of energy generation and consumption.

Projects providing advice on adapting to climate change in north-eastern India and promoting environment-friendly urban infrastructure measures are also included in the agreements, the statement said.

The two sides also agreed on starting a social protection programme for the workers in the unorganised sector, which will support government efforts to provide access to schemes for elderly, health and incapacity insurance for these workers.