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New Delhi, Dec. 21

The Union Government and the German Government Bank KfW have signed two loan agreements for financial assistance from Germany amounting to €190 million (Rs 1,070 crore). The first agreement was for providing soft loan of €140 million for the purpose of revamping the rural co-operatives in India through the project ‘Reform of the Rural Cooperative Credit Structure Project’. This project is being implemented by Nabard. The Government of Germany had committed the funds in separate tranches during the Indo-German Annual Negotiations held in 2005 and 2006, respectively. The funding is to be used for financing the cooperative credit structure reforms in the country, which is also being co-financed by the ADB. In addition, Loan and Financing Agreement for ninth tranche of German assistance amounting to €50 million for Pulse Polio Immunization Programme of the Health Ministry was also signed. The agreements were signed by Mr Kumar Sanjay Krishna, Joint Secretary, Department of Economic Affairs, on behalf of Government of India, and Mr Uwe Ohls, Senior Vice- President for Asia, KfW, on behalf of KfW. – Our Bureau

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