Business OpportunitiesNABARD opens Rs 102-crore credit line to UP
National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 102 crore to Uttar Pradesh under the Rural Infrastructure Development Fund (RIDF).
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The fund is expected to benefit almost a million rural populace inhabiting hundreds of villages spread across several districts of the state.
The credit line would be utilised for the modernisation of an irrigation project, construction of about 40 rural road/bridges and seven flood protection projects in different districts of the state.
Nabard chief general manager D P Mishra said the flood control projects would protect more than 11,000 hectares agriculture land in 146 villages, besides ensuring safety to human population, live stock and other infrastructure.
“This would also ensure agriculture operations in an uninterrupted manner. For the first time, the state has been sanctioned a project for the construction of 15 rain shelters in Meerut district for providing succour to the distressed people during floods,” he added.
The modernisation of Ramnagar feeder channel in Bijnore and J P Nagar districts would restore irrigation potential of 1,346 hectares, while rural road projects proposed in Allahabad district with total length of 114 km would benefit 36 villages by providing all weather connectivity and linking them to market centres.
Seven bridges in different districts would benefit half a million population in 140 villages by reducing travel distance by 133 km and providing link to 15 marketing centres.
During the current year, Nabard has sanctioned Rs 1,300 crore to UP. The loan sanctioned for different sectors under agriculture include 65 irrigation projects envisaging restoration of more than 2.6 lakh hectare irrigation potential, besides creating new potential of 26,000 hectare in the state.
Flood protection projects would protect almost 500,000 hectare agriculture land, besides protection of other vital infrastructure.
Since inception of RIDF in 1995-96, a cumulative financial assistance of over Rs 8,500 crore has been sanctioned for executing 22,280 projects in the state.