German bank to provide Rs 1,070 cr loan to India
German Government Bank KfW would provide loans worth 190 million euro (Rs 1,070 crore) to India for rejuvenating the rural cooperatives and pulse polio immunisation programme.
By PTI |
NEW DELHI: German Government Bank KfW would provide loans worth 190 million euro (Rs 1,070 crore) to India for rejuvenating the rural cooperatives and pulse polio immunisation programme.
Two agreements were signed in this respect by joint secretary in the Finance Ministry Kumar Sanjay Krishna and Uwe Ohls, bank's Senior Vice President for Asia here on Thursday.
The first agreement is for providing soft loan of euro 140 million for revamping the rural co-operatives.
The task would be carried out through the project Reform of the Rural Cooperative Credit Structure Project, to be implemented by NABARD.
The German government had committed the funds in separate tranches during the Indo-German annual negotiations held in 2005 and 2006.
The funding is to be used for financing the cooperative credit structure reforms in the country, which is also being co-financed by the ADB.
Loan and Financing Agreement for ninth tranche of German assistance amounting to euro 50 million for Pulse Polio Immunization Programme of the Health Ministry was also signed, an official release said.
Germany has been extending support to the programme since 1997 and has so far extended assistance of Euro 106.86 million in eight tranches which have largely been utilised.
In addition, Germany has already committed euro 31 million and euro 14.08 million as financial support to the programme in tenth and eleventh tranches respectively.
Two agreements were signed in this respect by joint secretary in the Finance Ministry Kumar Sanjay Krishna and Uwe Ohls, bank's Senior Vice President for Asia here on Thursday.
The first agreement is for providing soft loan of euro 140 million for revamping the rural co-operatives.
The task would be carried out through the project Reform of the Rural Cooperative Credit Structure Project, to be implemented by NABARD.
The German government had committed the funds in separate tranches during the Indo-German annual negotiations held in 2005 and 2006.
The funding is to be used for financing the cooperative credit structure reforms in the country, which is also being co-financed by the ADB.
ADVERTISEMENT
Loan and Financing Agreement for ninth tranche of German assistance amounting to euro 50 million for Pulse Polio Immunization Programme of the Health Ministry was also signed, an official release said.
Germany has been extending support to the programme since 1997 and has so far extended assistance of Euro 106.86 million in eight tranches which have largely been utilised.
In addition, Germany has already committed euro 31 million and euro 14.08 million as financial support to the programme in tenth and eleventh tranches respectively.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
