NABARD sanctions Rs. 10,000 Cr loan for Odisha’s agriculture and rural infrastructural development

NewsBharati    03-Jan-2018
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Bhubaneswar, January 3: To up the finance for farmers and agriculture, the National Bank for Agriculture and Rural Development (NABARD) has sanctioned financial assistance of Rs 10,000 Crores to Odisha. Assistance has also been given by the NABARD for the creation of rural infrastructures such as roads and bridges, lift irrigation projects, rural piped drinking water project, warehousing and irrigation structures. 

During the entire previous fiscal, the total assistance was Rs 14,715 Crores, a release issued by the bank said here on Monday. Under refinance channel, the NABARD has so far extended Rs 4,861 Crores to cooperative banks for production of crops by about 3 million farmers in the state.

Under Long-Term Refinance scheme of the NABARD, banks in Odisha have availed credit support of Rs 624 Crores, which have facilitated the creation of private sector farm assets. For infrastructure creation, the bank extended financial support to the tune of Rs 2118 Crores to the state government, the release said.

Since the inception of the Rural Infrastructure Development Fund (RIDF) in 1995-96, the NABARD has sanctioned cumulative financial assistance of about Rs 19,950 Crores to Odisha resulting in the implementation of about 2.24 lakh projects.

As an impact, roads of about 9700 kilometres, bridges of about 1.20 lakh meter and irrigation in 27.61 lakh hectare land have been created in the state out of RIDF Funds, the release said.