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NABARD Sanctions Rs 652 Crore to Odisha

NABARD has sanctioned Rs 652.70 crore to the State under 21st tranche of Rural Infrastructure Development Fund (RIDF) for 2015-16.

Published: 26th July 2015 07:03 AM  |   Last Updated: 26th July 2015 07:03 AM   |  A+A-

BHUBANESWAR:  The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 652.70 crore to the State under 21st tranche of Rural Infrastructure Development Fund (RIDF) for 2015-16.

With the new sanctions, the cumulative assistance of the national bank to the State now stands at Rs 12,648 crore for implementing 1.98 lakh projects in various sectors such as irrigation, rural connectivity, animal husbandry, infrastructure development, jetties and passenger waiting halls for inland waterway transport and rural drinking water supply.

During a meeting held at Mumbai last week, NABARD management had sanctioned funding for 11 rural roads and one rural bridge project involving assistance of Rs 234.08 crore. The projects envisaged to create additional road length of 197.94 kms and bridge length of 155 metres in the State.

Supporting the State Government's Biju Setu Yojana, NABARD has sanctioned Rs 284 crore assistance for construction of 102 bridges. The fresh RIDF assistance also includes 23 flood protection projects involving assistance of Rs 114.73 crore and Rs 19.89 crore for 154 lift irrigation projects (tubewell and river lift) under Biju Krushak Vikas Yojana (BKVY).

The projects will create, stabilise and develop irrigation potential of 84,952 hectares (ha) and the assured irrigation will be provided to 3,432 ha under BKVY, NABARD sources said.

Since development of infrastructure is key to faster economic growth, the RIDF assistance is major source of funding for various projects across the State catering to the critical infrastructure needs in rural areas.

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