State gets Rs 431 cr from Nabard for rural infrastructure

The National Bank for Agriculture and Rural Development today said it has sanctioned Rs 121.05 crore as loan to Karnataka to build rural infrastructure projects like roads and bridges, minor irrigation structures, secondary schools, anganwadi buildings, rural godowns and markets and fish jetties in various districts.

These projects have been sanctioned under the Rural Infrastructure Development Fund and the cumulative sanction under “RIDF (Rural Infrastructure Development Fund - XV” to Karnataka during 2009-10 is Rs 431.33 crore, NABARD said in a statement.

Implementation of 240 rural roads and bridge projects with a total length of 1082.23 km would benefit 25 districts of Karnataka by connecting 1009 villages and 450 marketing centres, besides generating employment of 8.9 million man-days, the statement said.

The total financial outlay sanctioned is Rs 176.22 crore and the loan assistance from NABARD is Rs 140.97 crore.

Further, of 385 minor irrigation projects sanctioned with total financial outlay of Rs 150.45 crore, NABARD loan assistance of Rs 142.93 crore would provide irrigation facilities to 17894 hectare spread over the state, including distressed and flood-affected districts.

Implementation of minor irrigation projects would result in generating employment of 818 lakh mandays.

Financial assistance of Rs 4.75 crore has been also sanctioned for 11 sericulture units and Rs 19 crore for construction of 21 rural godowns in the state, the statement said.