Gujarat, Luxembourg Explore Green Finance And Sustainable Development Partnership

(MENAFN- IANS) Gandhinagar, Feb 26 (IANS) Gujarat has explored potential collaboration with Luxembourg in green finance and long-term infrastructure development during a meeting between Chief Minister Bhupendra Patel and Luxembourg's Finance Minister Gilles Roth in Gandhinagar, officials said on Thursday.

The discussions focused on making use of Luxembourg's expertise in green bonds and sustainable finance as Gujarat positions itself to expand its footprint in green energy, green financing and green growth.

The meeting was described as a courtesy call by the visiting delegation from the Grand Duchy of Luxembourg.

During the interaction, Chief Minister Patel said, "Under the leadership of Prime Minister Narendra Modi, Gujarat has maintained prudent financial management and is prepared to take the lead in green energy and green growth initiatives."

He noted that the state was keen to benefit from Luxembourg's experience in green bonds and green financing to strengthen its sustainable development agenda.

The Chief Minister also referred to the Prime Minister's emphasis on renewable energy and Mission LiFE, saying that "the vision of environmentally responsible lifestyles and green growth could be advanced through municipal green bonds, long-term infrastructure projects and sustainable development frameworks".

He urged that both sides explore avenues for mutual cooperation in these areas.

Roth said: "Luxembourg, which has 115 banks and oversees assets worth €8 trillion in investment management, maintains a presence in investment and financial services across around 80 countries."

He expressed interest in expanding financial ties with India and Gujarat.

He highlighted that the Memorandum of Understanding (MoU) between the International Financial Services Centres Authority at GIFT City and Luxembourg's Commission de Surveillance du Secteur Financier had strengthened financial cooperation between the two sides and enhanced Gujarat's global financial connectivity.

Roth also conveyed Luxembourg's keenness to increase investments in the international financing sector at the GIFT City in Ahmedabad.

Chief Minister Patel invited the Luxembourg delegation to participate in the Vibrant Gujarat Global Summit scheduled for January 2027 and the regional conferences for South and Central Gujarat planned for April and June 2026.

Roth, in turn, invited the Chief Minister and a delegation from the Gujarat government to visit Luxembourg.

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