India and Germany today signed an agreement on financial and technical cooperation, with a focus on sustainable urban development and renewable energy. The agreement was signed between German Ambassador to India Martin Ney and Joint Secretary, (Department of Economic Affairs), Finance Ministry, Sameer Kumar Khare. In December last year, Germany had pledged nearly Rs 8,500 crore (1,055 million Euros) for development cooperation with India during Indo-German inter-governmental negotiations. Speaking at the event, the German ambassador said the priority of the cooperation was in areas of renewable energy. This will also help reduce the greenhouse gases emission and help in achieving India's goal in curbing it, he said. He also said the focus of the cooperation was on sustainable urban development in areas of sanitation, solid waste management and promotion of urban mobility. This year marks 60 years of bilateral development cooperation between India and Germany.