France announces one billion Euros credit line to India

NEW DELHI: France today announced a one billion Euros credit line over the next three years to India to take initiates in the climate control area.

This was announced by French Foreign Minister Laurent Fabius here.

"I want to prepare COP21 (Conferences of the Parties) in close cooperation with India. France will be proposing a credit line of up to 1 billion euros (Rs 8200 crore) over the next 3 years for sustainable infrastructure and urban development in India through the Agence francaise de development AFD (French development agency)," he said.

Fabius said he held talks with his counterpart Sushma Swaraj on the crucial issue of climate change, adding that his country was banking on strong leadership of Prime Minister Narendra Modi to make the Paris Climate Change Conference of the UN in December 2015 a success.

He said France wants to work closely with India on the issue of climate change and, in this regard, has decided to give a credit line was to take initiatives in this area.