Germany commits €10 bn more as assistance to India on climate issues

This will support inter alia the achievement of their ambitious goals in the climate action and sustainable development space, further promote German-Indian research and development, encourage private investment and thus aim at leveraging further funding, according to the joint statement issued.

Both the leaders stressed that economic recovery should further build a more resilient, environmentally-sustainable, climate-friendly and inclusive future for all in line with the 2030 Agenda for Sustainable Development and the national commitments by both countries under the Paris Agreement.

The two countries agreed to develop an Indo-German Green Hydrogen Roadmap based on inputs by the Indo-German Green Hydrogen Task Force supported by the Indo-German Energy Forum (IGEF).

They agreed to establish an Indo-German Renewable Energy Partnership focusing on innovative solar energy and other renewables, including the associated challenges for electricity grids, storage and market design to facilitate a just energy transition.

The partnership would also support creation of a circular economy for solar technologies. Germany expressed its intention to provide financial and technical cooperation including concessional loans of up to $1 billion from 2020 to 2025 depending on high quality project preparation and the availability of funds.

Both sides agreed to establish a lighthouse cooperation on ‘agroecology and sustainable management of natural resources’ to benefit the rural population and small-scale farmers in India in terms of income, food security, climate resilience, improved soil, biodiversity, forest restoration and water availability and to promote Indian experience globally.

Germany expressed its intention to provide financial and technical cooperation including concessional loans of up to €300 million until 2025 depending on high quality project preparation and the availability of funds.