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French Development Bank AFD Keen To Invest €100 Million In Smart City Project

The AFD funding is expected to be finalised before French President Emmanuel Macron’s expected visit to India next month

New Delhi: French development bank AFD has shown interest to fund €100 million (around Rs800 crore) for India’s smart cities mission, a finance ministry official has said.

Under the smart city mission, the government has so far identified 99 cities for upgradation which would require a total investment of about Rs2.03 trillion.

“France’s AFD has said it is interested in funding €100 million for smart cities mission. The funding is expected to be finalised before President Emmanuel Macron’s expected visit to India next month,” the official told PTI.

Agence Francaise de Developpement (AFD) is France’s development bank that finances and provides technical assistance to projects that improve daily livelihood in developing and emerging countries. AFD has been operating in India since 2008.

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