French development agency, afdand germany Kfw Bank Reportedly in talks with India for expansion €100 million loan to support Country’s urban infrastructure planespecially Atal Mission for Rejuvenation and Urban Transformation (Amrit) 2.0. Negotiations for the loan are scheduled for early 2024, with a signing expected in February.
This collaborative effort follows their recent partnership Urban investment for innovation, integration and sustainability (CityIS) 2.0 programDemonstrating continued commitment to sustainable urban development in India.
CityIS 2.0 Program
- CITIIS 2.0 Programme, a four year initiativeFocuses on urban renewal and sustainable waste management.
- Both France and Germany have contributed €100 million to the programme, highlighting their shared commitment to promoting sustainable urban development in India.
- The Union Cabinet approved the scheme in May 2023, emphasizing its support for competitively selected projects. promoting circular economyintegrated waste management at the city level, climate-oriented reforms at the state level, and institutional strengthening and knowledge dissemination at the national level.
- AFD of France and KfW Bank of Germany have a history of financing urban transformation projects in India.
- AFD’s participation in the CITIIS 1.0 program since 2018 and contribution of technical expertise to the Smart City Mission of the Government in cities Nagpur, Pondicherry and Chandigarh Show your commitment towards India’s urban development.
- Additionally, AFD has financed metro projects in various Indian cities. Bengaluru, Pune, Surat, Nagpur and Kochi, To contribute to increasing public transportation.
KfW Bank’s strategic investment in Indian infrastructure
- KfW Bank, which specializes in official development finance, has also invested in and provided funding for metro projects in India. Expansion of suburban rail system in Bengaluru.
- His upcoming venture involves financing India PM E-Bus Service SchemeWhich aims to launch 10,000 electric buses in about 170 Indian cities.
- This initiative is in line with the government’s goal of promoting sustainable and eco-friendly public transport.
Amrit 2.0 and investment opportunities
- launched in October 2021 For a five-year period (FY22 to FY26), AMRUT 2.0 aims to provide universal coverage of sewerage and septage management systems in 500 cities.
- By the end of FY23, the Ministry of Housing and Urban Affairs had approved State Water Action Plans (SWAP) for 6,527 projects costing ₹1.29 trillion.
- Detailed project reports of 2,058 schemes worth ₹36,481.47 crore have been approved by the states and union territories.
- According to the Department for Promotion of Industry and Internal Trade (DPIIT), there are currently investment opportunities worth $7.5 billion under the infrastructure mission.
Important questions related to exam
1. What is the focus of the CITIIS 2.0 programme, to which France and Germany recently contributed €100 million?
a) agricultural development
B) Urban renewal and sustainable waste management
c) educational initiatives
2. Which Indian cities have received technical expertise from AFD of France under the Smart Cities Mission?
A) Mumbai and Delhi
b) Nagpur, Pondicherry and Chandigarh
c) Kolkata and Chennai
3. When was Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 launched in India?
A) October 2020
B) October 2021
c) October 2022
Please leave your answers in the comment section