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NEW DELHI: France’s development agency AFD and Germany’s KfW Bank are in talks with India to provide a €100 million loan to fund the country’s urban infrastructure project, the AMRUT mission, officials said. .
Loan negotiations are scheduled for early 2024, with signing expected in February. This follows the countries’ recent collaboration on the Cities Investments for Innovation, Integration and Sustainability (CITIIS 2.0) programme, a four-year initiative focused on urban regeneration and sustainable waste management. , both countries contributed 100 million euros each.
The federal cabinet, which approved the plan in May 2023, said: “The program envisages supporting competitively selected projects that promote a circular economy, with a focus on integrated waste management at the city level, climate-oriented reform activities at the state level, and institutional reforms. strengthening and disseminating knowledge at the national level. ”
France and Germany have previously funded urban transformation projects in India. His AFD in France was part of his CITIIS 1.0 program launched in 2018. It has also provided technical expertise to the government’s Smart Cities Mission in Nagpur, Pondicherry and Chandigarh. It also funded metro projects in Bangalore, Pune, Surat, Nagpur and Kochi.
Germany’s KfW Bank, which provides government development finance, is also investing in metro projects in India. It financed the expansion of Bangalore’s suburban rail system. The Mint had earlier reported that KfW plans to finance India’s PM E-Bus Sewa programme, which aims to bring 10,000 electric buses to around 170 cities in India. The plan is expected to cost Rs 300,000 crore. 5,761.3 billion yen INR20,000 billion yen will be provided by the government.
“Under this scheme, there will be city bus operations with 10,000 electric buses on a public-private partnership (PPP) model. This scheme will support bus operations for 10 years,” Union Minister Anurag Thakur said. stated in August 2023.
Questions sent to AFD, KfW Bank, and the Ministry of Housing and Urban Affairs remained unanswered by the time this article was published.
Atal Mission for Revitalization and Urban Transformation (AMRUT) 2.0 was launched in October 2021 to provide universal sewerage and sludge management systems in 500 cities in five years from FY22 to FY26. It has started.
By the end of FY23, the Ministry of Housing and Urban Affairs had approved State Water Action Plans (SWAP) for 6,527 costly projects. INR1.29 trillion. Detailed project reports amounting to 2,058 plans have been approved by states and union territories. INR36,481,470,000.
Data from the Department for Promotion of Industry and Intratrade (DPIIT) shows that there are currently $7.5 billion worth of investment opportunities under the infrastructure mandate.
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Published: January 2, 2024, 10:05 AM IST
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