AFD’s contribution to “Smart Cities” project & sustainable development in India
French Development Agency (AFD)’s contribution to “Smart Cities” project and sustainable development in India - more than 500 million euros committed by end of 2015.
- Press conference on the French Development Agency (AFD)’s contribution to “Smart Cities” project and sustainable development in India - more than 500 million euros committed by end of 2015
- New Delhi, 9 October 2015
New Delhi, 9 October 2015
AFD (French Development Agency) and DEA (Department for Economic Affairs, Ministry of Finance) held their 6th Annual Negotiation Meeting on 8th October, 2015.
On this occasion, H.E. Mr François Richier, Ambassador of France to India, and Mr Pascal Pacaut, Head of Asia Department at AFD, addressed the press to highlight AFD’s commitment in India and its contribution to the Smart Cities Mission. The event took place on Friday, 9th October at the Residence of France.
On their 6th Annual Negotiation Meeting, AFD and DEA discussed the implementation of India’s “Smart Cities” Mission, in line with the priorities decided during the visit to France of Prime Minister of India, Shri Narendra Modi, in April 2015:
- Implementation of AFD’s commitment to provide 2 billion euros of loans (sovereign and non-sovereign) over the next years to support smart cities and sustainable development in India.
- AFD’s commitment to support green and inclusive growth in India.
In 2015, to achieve these objectives, AFD in India has signed the following financing agreements:
- Energy efficiency in municipal street lighting with EESL (Energy Efficiency Service Limited) – 50 million euros.
- Extension of the Bangalore metro – 200 million euros.
- Technical assistance to Kochi Metro – grant of 0.8 million euros.
Since Prime Minister Modi’s visit to France in April 2015, France will have allocated by end of 2015 an additional 267 million euros for “Smart Cities” and projects related to sustainability, including in renewable energy and energy efficiency. AFD is on track to achieve commitment of 2 billion euros for smart cities and sustainable urban development taken during PM Modi’s visit to France.
To review and foster the implementation of France’s commitment on “Smart Cities”, the Ambassador of France, Mr. François Richier visited Puducherry in September. The Ambassador is scheduled to visit Chandigarh on 12th October. Moreover, the French Embassy and the Ministry of Urban Development will jointly organize a seminar to share expertise and best practices on Smart and Sustainable Cities, due to take place in Delhi on 4th November.