EU to invest 417 mln Euros in India

New Delhi, Feb 16: European Commissioner for External Relations and Neighbourhood Policy Benita Ferrero-Waldner today said the European Union will invest 417 million Euros over the next seven years on education, health and economic cooperation in India.

This was decided after a meeting with Prime Minister Manmohan Singh here this morning, she told a group of select newpersons.

''Out of the total 417 million-Euros-package, 67 million Euros will be spent per year and 60 per cent of the amount will go for rural housing and education,'' said Ms Ferrero-Waldner, who is in India for a five-day visit.

She added that the Prime Minister was also committed to start working on these issues.

''Civil nuclear energy and science and technology will also be an issue in the future where we will have more talks with India. In trade relations with the WTO, we both have to show interest and we are willing to work for the solution. Ofcourse, the WTO will remain as chief in mechanising the work,'' she said.

During her visit till February 20, the European Commissioner will highlight the EU's policy on energy and climate change and will call for a further intensification of EU-India cooperation in this field.

Key priorities will be development of cleancoal technologies, increasing energy efficiency and savings, promoting environment -friendly energy sources as well as assisting India in energy market reforms, she said.

She will also discuss on broad base trade and investment agreement between the EU and India and press for cooperation in the ongoing negotiations of bilateral agreement on maritime transport and civil aviation.

The EU Commissioner will hold a meeting with the Union Commerce and Industry Minister Kamla Nath on February 19 and visit Rajasthan on February 17-18 and Mumbai on February 20.

UNI