Fund sanctioned for irrigation, bridge projects

BHUBANESWAR: National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rural Infrastructure Development Fund (RIDF) loan assistance of `372.51 crore to the State Government towards irrigation and rural bridge projects.

Sources said 17,322 private lift irrigation projects, including bore-wells, shallow tube wells and dug wells besides the micro river lifts under Jalanidhi I and II would be set up with loan assistance of `130.17 crore. Once built, the projects would provide assured irrigation to about 36,440 hectares of agricultural land directly benefiting more than 40,000 farmers.

Nabard has also sanctioned 14 rural bridge projects under Biju Setu Yojana with RIDF loan assistance of `242.34 crore which would add 6222.89 metre bridge length providing link to 4.56 lakh population in 322 villages.

Chief General Manager of Nabard KC Panigrahi said developmental financial assistance in the State has crossed the `10,000 crore mark before the end of third quarter. The apex financial institution had extended financial assistance to the tune of `14,715 crore to the State Government and banks during the last fiscal.
“Nabard has so far extended `4,861 crore to the Cooperative Banks under refinance channel for production of crops by about 30 lakh farmers. Similarly, banks have availed credit support of `624 crore under long term refinance, which have facilitated creation of private sector farm assets,” he informed.