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Nabard sanctions Rs 19.69 cr for Kerala

Our Bureau

Thiruvananthapuram , March 24

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 19.69 crore to Kerala under the Rural Infrastructure Development Fund (RIDF).

The bank sanctioned the assistance under RIDF- XI (2005-06) after appraising the projects submitted during December 2005 and January 2006, according to Mr B.S. Shekhawat, Chief General Manager of Nabard.

The assistance is for implementation of 106 minor irrigation projects in 12 districts and drainage and flood protection projects in three districts. These projects are expected to generate 1,781 recurring jobs annually, besides non-recurring employment of 8.06 mandays during the implementation.

The projects would contribute Rs 9.48 crore to the gross domestic product of the State.

RIDF-XI

With this sanction, the cumulative sanctions under RIDF - XI (2005-06) have gone up to Rs 206.23 crore and the overall sanctions in the State under RIDF have reached Rs 1,523 crore covering 3,664 projects. The amount drawn by the State Government so far is Rs 873.79 crore.

Nabard shares the cost of RIDF projects ranging from 80 per cent for roads and bridges, 85 per cent for health and education to 95 per cent for agriculture, irrigation, watershed and soil conservation.

More Stories on : Agricultural Institutions | Rural Development | Kerala

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