Nabard sanctions Rs 762 cr to UP

This will benefit a population of over 2,57,000 inhabiting 841 villages

National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 762 crore to Uttar Pradesh.

Extended under Rural Infrastructure Development Fund (RIDF), the credit includes Rs 340 crore for implementation of 695 rural roads projects in 60 districts of UP. This would benefit a population of over 2,57,000 inhabiting 841 villages, Nabard Chief General Manager N Krishnan said. Besides, RIDF loan amounting to Rs 170 crore has been sanctioned for implementation of Dr Ram Manohar Lohia Project for Reconstruction & Modernisation of 1,054 tube wells. In addition, Rs 252 crore was sanctioned for implementation of Integrated Rain Water Management (Watershed Development) Project in 69 districts. This would bring 73,800 hectares of additional area of degraded land under cultivation. Nabard has, since launch of RIDF in 1995-96, has sanctioned 64,726 projects with cumulative financial assistance of almost Rs 14,000 crore to UP.