Germany to spend 1 billion euro in five years on green urban mobility projects in India: Merkel
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''We have launched Indo-German partnership for green urban mobility and earmarked US$1 Billion towards this,'' Merkel said.
German Chancellor Angela Merkel said on Saturday her country will spend one billion euros ($1.12 billion) in the next five years on green urban mobility projects conceived under the new German-Indian partnership.
''We have launched Indo-German partnership for green urban mobility and earmarked US$1 Billion towards this,'' Merkel said.
''We will also earmark Euros 200 Million to reform bus sector in Tamil Nadu,'' she said and added, whoever has looked at pollution in Delhi yesterday would find very good arguments to replacing diesel buses with electric buses.
German funds will be used to finance several environment-friendly projects such as the introduction of electric buses to replace diesel ones used for public transport in urban centres.
Merkel, accompanied by several cabinet colleagues and a business delegation, held talks with Indian Prime Minister Narendra Modi on Friday that focused on trade, investment, regional security and climate change.
Germany is India`s largest trading partner in Europe and more than 1,700 German companies operate in the country.
(With inputs from agencies)