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Home Banking & Finance

France extends Euro100M credit to Smart Cities

Fiinews by Fiinews
March 11, 2018
in Banking & Finance, Economy, Infrastructure, Projects, Technology
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French technology for Indian Railways

President Emannuel Macron and Prime Minister Narendra Modi witnessing exchange of signed agreements.

India and France have signed Euro100 million credit facility for “Smart Cities’ during during the four-day State Visit of President of France, Emmanuel Macron, to India, from 9 Mar 2018.

The two countries will also cooperation in railways, one of the main infrastructure development sectors in India.

The list of signed pact:

1. Agreement between India and France on the Prevention of Illicit Consumption and Reduction of Illicit Traffic in Narcotic Drugs, Psychotropic Substances and Chemical Precursors and Related Offences.

The Agreement shall facilitate the two countries in combating illicit traffic and consumption of drugs and will also impact on financing of terrorism.

2. India-France Migration and Mobility Partnership Agreement.

This agreement will facilitate temporary circular migration based on mobility and the encouragement for a return of skills to the home country.

3. Agreement between India and France to facilitate Mutual Recognition of Academic Qualifications.

The purpose of this Arrangement is to facilitate the mutual recognition of educational qualifications.

4. Memorandum of Understanding between Ministry of Railways and SNCF Motilities, France on technical cooperation in the field of Railways.

The purpose of this MoU is to build upon and deepen the mutual cooperation and focus on priority areas of high speed and semi-high speed rail; station renovation modernisation of current operations and infrastructure; and suburban trains.

5. Letter of Intent between India and France for creation of a permanent Indo-French Railways Forum.

The purpose of this Letter of Intent is to enhance the already existing cooperation by creating an Indo-French Permanent Railway Forum.

6. Agreement between India and France regarding the provision of reciprocal logistics support between their Armed Forces.

This Agreement shall facilitate the reciprocal provision of Logistic Support, Supplies and Services between the Armed Forces of the two countries during authorised port visits, joint exercises, joint training, humanitarian assistance and disaster relief efforts etc.

7. Memorandum of Understanding (MoU) between India and France on cooperation in the field of Environment.

The MoU aims to establish a basis for exchange of information between the Governments and technical experts of the two countries in the field of environment and climate change.

8. Agreement between India and France on cooperation in the field of Sustainable Urban Development.

The Agreement will allow exchange of information on smart city development, development of urban mass transportation systems, urban settlements and utilities etc.

9. Agreement between India and France regarding the exchange and reciprocal protection of classified or protected information.

This Agreement defines the common security regulations applicable to any exchange of classified and protected information.

10. Implementing Arrangement between Indian Space Research Organisation (ISRO) and Central National D’EtudesSpatiales (CNES) for pre-formulation studies of a Maritime Awareness Mission.

The Agreement would provide end-to-end solution for detection, identification and monitoring of vessels in the regions of interest for France and India.

11. Industrial Way Forward Agreement between Nuclear Power Corporation of India Ltd, and EDF, France.

This agreement prescribes a way forward for the implementation of the Jaitapur nuclear power project.

12. Bilateral Arrangement between India and France on cooperation in the matter of Hydrography and Maritime Cartography.

This Arrangement will encourage cooperation between the two countries in the field of hydrography, nautical documentation and maritime safety information.

13. Credit Facility Agreement between India and France of Euros100 million for funding of the Smart City Projects through a Challenge Process.

This agreement will help fill the funding gap under the Smart City Mission and the funds provided by the Central and State Governments for the purpose.

14. Memorandum of Understanding between National Institute of Solar Energy (NISE), Ministry of New & Renewable Energy and the National Solar Energy Institute (INES), France.

With this agreement both countries shall work on projects in ISA member countries in the areas of solar energy (solar photovoltaic, storage technologies, etc.) through transfer of technology and collaborative activities. fii-news.com

Tags: The Prime Minister Narendra Modi
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