What's New

DFID Assistance Projects

The following DFID Assistance Projects were signed in March, 2012.

S.No	Name of Project	State where implemented	Amount of DFID assistance in £ million(र crores)	Date of Signing/Closing
i)	Support to Odisha Health and Nutrition Programme	Odisha	Financial Assistance 40 (320) Technical Assistance 09.50 Total: 49.50 million	02.03.2012 / 31.03.2015
ii)	Odisha Modernising Economy Governance & Admn, (OMEGA)	Odisha	Financial Assistance 08(64) Technical Assistance 11 Total: 19 million	05.03.2012 / 31.03.2016
iii)	Strengthening Performance Management in Government (SPMG-II)	Madhya Pradesh	Financial Assistance 13 (900) Technical Assistance 01 Total: 14 million	05.03.2012 / 31.03.2015
iv)	Support to MP Health and Nutrition Programme	Madhya Pradesh	Financial Assistance 60 (480) Total: 60 million	12.03.2012 / 31.03.2015
		Total Grant	142.50 (FA) + (TA)

Indo-German Senior Finance Officials' Meeting

The 11th Indo-German Senior Finance Officials' meeting was held in Delhi on March 20, 2012. The meeting was co-chaired by Joint Secretary (Bilateral Cooperation) and Mr. Wilfried Steinheuer, Deputy Director General (International Cooperation), German Ministry of Finance. The issues discussed during the meeting were (i) Global Economy (ii) Economic situation in India and Germany/Eurozone (iii) European Financial Stability Facility (EFSF)/European Stability Mechanism (ESM) - Measures to tackle the sovereign debt crisis in the Euro area (iv) Present Status of FDI policy in India (Insurance, Banking) (v) Local Currency Bond Markets - LCBM in India, LCBM in G-20 context and (vi) G-20 Framework for Growth - Future Agenda, Accountability and Peer Review, topics for German-Indian Cooperation.

Loan Agreement

The agreements for the following projects were signed during the month.

• Environmentally-friendly Urban Development through NCRPB: The Loan Agreement for € 100 million was signed between KfW, German Development Bank and the National Capital Region Planning Board (NCRPB) on February 09, 2012 for the project on "Environmentally-friendly Urban Development" which aims at providing financial support to NCRPB for financing sub-projects on infrastructure development. KfW is also providing a grant assistance of € 1 million to NCRPB to support funding of expert services and costs for related goods and services. The Financing Agreement in this regard was signed between KfW and NCRPB on March 30, 2012. Government of India is providing sovereign guarantee for the financial assistance from KfW to NCRPB.
• >Clean Energy for Rural Development (REC-III): The Government of Germany is providing a financial assistance of € 100.5 million to REC for financing projects in the field of renewable energy primarily in rural areas and energy efficiency. The assistance includes € 100 million as loan and € 0.5 million as grant. The agreements in this regard were signed between KfW, German Development Bank and the Rural Electrification Corporation Limited (REC) on March 30, 2012. Government of India is providing sovereign guarantee for the financial assistance from KfW to REC.

Lines of Credit

Under the Indian Development Economic Assistance Schemes (IDEAS) which aims at promoting India's strategic and economic interests abroad, during the month of March, 2012, Government of India supported extension of Exim Bank of India Lines of Credit (LoCs) totaling US $ 271.505 million to the Governments of Malawi (US $ 76.5 million), Tanzania (US $ 178.125 million) and Gambia (US $ 16.88 million).

World Bank

Mr. Robert B. Zoellick, President, World Bank Group visited India during March 25-31, 2012. During the visit, Mr. Zoellick met Hon'ble Finance Ministet, Home Minister, the Deputy Chairman of the Planning Commission, Minister of Rural Development, Minister of Urban Development and the Principal Secretary to the Prime Minister. In New Delhi, Mr Zoellick took part in four round table discussions - with Economists, on strengthening India's National Markets, on the Role of India in the region and on Wild Tiger and Biodiversity Conservation. During this visit, Mr. Zoellick travelled to Odisha on March 27, 2012, met the Chief Minister, and undertook a site visit to the World Bank assisted Integrated Coastal Management Project. Thereafter, he went to Chennai to visit the World Bank's Chennai Satellite Accounting Centre.

World Bank assisted Projects

The following World Bank Projects were signed/approved during the month.

• Uttar Pradesh Health Systems Strengthening Project (UPHSSP) was signed with the World Bank for an IDA credit of US $ 152 million on March 21, 2012 at New Delhi.
• World Bank Board has approved IDA credit of US $ 50 million for Additional Financing for Assam Agricultural Competitiveness Project on March 8, 2012.
• World Bank Board has approved IBRD loan of US $ 320 million for Assam State Roads Project on March 13, 2012.

Asian Development Bank (ADB) assisted Projects

The following ADB Projects were signed during the month.

• Urban Infrastructure Investment Program-Project-1 for US $ 81 million has been signed on March 9, 2012.
• Second India Infrastructure Project Financing Facility-Project 3 for US $ 240 million has been signed on March 21, 2012.
• National Power Grid Improvement Project for US $ 500 million has been signed on March 30, 2012.
• National Power Grid Development Investment Program - Project 3 for US $ 76 million has been signed on March 30, 2012.