Germany to offer 1.09 billion euro loan to India

[Aarush]

(Reuters) - Germany has agreed to offer 1.09 billion euro loan to India - its highest ever since 1958 - for various development projects, a government statement said on Wednesday.

Germany is India's largest trading partner in Europe, and the bilateral trade touched $21.6 billion in the 2012/13 fiscal year that ended March, down nearly 8 percent from the previous fiscal year, trade ministry estimates show.

Finance Minister P. Chidambaram and Gerd Mueller, Germany's minister for economic cooperation and development signed the agreement, under which the European nation will offer loans at lower interest rates to sectors as varied as power, affordable housing and and microfinance.

Mueller is accompanying German President Joachim Gauck, who is on a visit to India along with a business delegation.

"Energy, environment and sustainable economic development are priority sectors under bilateral development cooperation between India and Germany, which now spans over a period of more than 50 years," the statement said.

Germany to offer 1.09 billion euro loan to India| Reuters

Germany to offer 1.09b euro loan to India

 

[airpower183]

 

[Ashoka The Great]

Get out of here. We have nothing for u. Shoooo.

 

[Gandhi G in da house]

Why are they offering it ? I hope they dont think they can dictate us where we can spend our money like England foolishly thinks.

 

[Aarush]

if you have anything constructive to contribute then most welcome else please behave like a good spectator.

 

[Bhai Zakir]

Sri lankan beggars are not allowed here, u can ask for charity somewhere else.

BTW, India is already gives u enough, why u keep standing in the queue??

 

[Aarush]

nothing wrong if loan is taken on lower interest, every country takes loan. its nothing new. Japan also announced 2 billion dollar loan on low interest and we need that for our infrastructure projects.

 

[SrNair]

Caution:"Sri Lankan beggars prohibited area"..

On topic:It is an investment.Win and Win situation for both countries.

 

[$@rJen]

hey we gave you enough already you're Begging the Chinese and Pakistan too.... Go to next door begger Sri lankan

I think they're Trying to bag some Defence Deal... Maybe Subs

 

[Sugarcane]

Richi Rich India

 

[Vinod2070]

Little oversmart baboon doesn't know the difference between loan and charity...

 

[Robinhood Pandey]

Richi Rich India

Chacha mauj kaatne aa gaye ??. . .

 

[T-123456]

A loan is an investment,they are getting interest.
As it is an offer,i'm sure the Germans also selling equipment.
Since it helps development,its allways a good thing.

 

[arp2041]

Yours???

 

[Rajaraja Chola]

Why are they offering it ? I hope they dont think they can dictate us where we can spend our money like England foolishly thinks.

Its loan for Infrastructure and power projects like Japanese Loans for C-B, D-M corridors. The beneficiaries of the loan would be private companies by the most.

India to build 50k homes for displaced SL Tamils - Times Of India

Shoo Shoo begger..!