Germany provides support of EUR 200 million for India's Energy Efficiency Programme
The German Development Bank (KfW) today signed - on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) - a loan agreement of over EUR 200 million (1,400 crores INR) with India's Energy Efficiency Services Limited (EESL). With this, the total German commitment for better energy efficiency in India stands at EUR 600 million (INR 4,200 Crore).
The agreement was signed by Selva Kumar, Joint Secretary Department of Economic Affairs, Saurabh Kumar, Managing Director, EESL, Dr. Norbert Kloppenburg, member of the Executive Board of KfW, and Roland Siller, member of the Management Committee of KfW.
With this programme, the Indo-German development cooperation addresses mutual interests of mitigating global warming and bringing together the expertise of highly committed institutions on both sides.
Additionally, a financing agreement of EUR 500,000 (INR 3.5 Crore) was signed with Indian Renewable Energy Development Agency (IREDA). IREDA will use these funds to assure the quality of solar PV projects and to mitigate the challenges faced in solar rooftop PV projects by establishing an implementation structure. These grant funds will also be used to support IREDA in market assessments concerning future trends in solar PV.
On Thursday the State Bank of India and the German Development Bank (KfW) on a special mandate from the German Government concluded a USD 274 million (INR 1,796 crores) loan facility to support lending for affordable housing in India.
Siddhartha Sengupta, Deputy Managing Director signed on behalf of SBI, while KfW was represented by Dr. Norbert Kloppenburg, Member of the Executive Board, and Mr. Roland Siller, Member of the Management Committee of KfW Development Bank.
With its focus on housing loans for economically weaker sections (EWS) and lower income group (LIG) households, the facility is designed to complement the Indian Government's flagship affordable housing programme, the Pradhan Mantri Awas Yojana. Lower income households account for 95% of the shortage of an estimated 20 million housing units in the country.
"Sustainable mortgage loans to low income families to purchase, build or upgrade their homes is critical for inclusive growth and development", said Dr. Kloppenburg on the occasion. "Partnering with India's largest bank on this mission provides a tailor-made platform for quick upscaling of housing finance for this segment."
The agreement was signed by Selva Kumar, Joint Secretary Department of Economic Affairs, Saurabh Kumar, Managing Director, EESL, Dr. Norbert Kloppenburg, member of the Executive Board of KfW, and Roland Siller, member of the Management Committee of KfW.
With this programme, the Indo-German development cooperation addresses mutual interests of mitigating global warming and bringing together the expertise of highly committed institutions on both sides.
Additionally, a financing agreement of EUR 500,000 (INR 3.5 Crore) was signed with Indian Renewable Energy Development Agency (IREDA). IREDA will use these funds to assure the quality of solar PV projects and to mitigate the challenges faced in solar rooftop PV projects by establishing an implementation structure. These grant funds will also be used to support IREDA in market assessments concerning future trends in solar PV.
On Thursday the State Bank of India and the German Development Bank (KfW) on a special mandate from the German Government concluded a USD 274 million (INR 1,796 crores) loan facility to support lending for affordable housing in India.
Siddhartha Sengupta, Deputy Managing Director signed on behalf of SBI, while KfW was represented by Dr. Norbert Kloppenburg, Member of the Executive Board, and Mr. Roland Siller, Member of the Management Committee of KfW Development Bank.
With its focus on housing loans for economically weaker sections (EWS) and lower income group (LIG) households, the facility is designed to complement the Indian Government's flagship affordable housing programme, the Pradhan Mantri Awas Yojana. Lower income households account for 95% of the shortage of an estimated 20 million housing units in the country.
"Sustainable mortgage loans to low income families to purchase, build or upgrade their homes is critical for inclusive growth and development", said Dr. Kloppenburg on the occasion. "Partnering with India's largest bank on this mission provides a tailor-made platform for quick upscaling of housing finance for this segment."
