NABARD Sanctioned Rs 372.51 crore Loan to Odisha

National Bank for Agriculture and Rural Development – NABARD Sanctioned Rs 372.51 crore loan to Odisha. The NABARD loan to Odisha has been provided under Rural Infrastructure Development Fund (RIDF) for the construction of rural bridge projects and for irrigation purpose for last fiscal quarter of this year.

Out of total Rs 372.51 crore Loan to Odisha, Rs 130.17 crore will be used in 17,322 lift irrigation projects which includes, bore wells, shallow tube wells, digging wells and micro river lifts. Rest amount of RIDF loan which is Rs 242.34 crore will be used for 14 Rural Bridge Projects under Biju Setu Yojana.

Benefits:

The first portion of loan Rs 130.17 crore for irrigation projects will benefit in irrigation to about 36,440 hectares of agricultural land and it will benefit directly to 40,000 farmers of Odisha. The second portion i.e Rs 242.34 crore would enhance 6222.89 metres of bridge length and thus will be beneficial for approximately 4.56 lakh population of 322 villages of the state.

Background:
Since the establishment RIDF in 1995-96 in has provided total financial assistance of about Rs 19,950 crore to Odisha resulting in implementation of about 2.24 lakh projects.

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