Nabard extends Rs 780-cr loan to Gujarat under RIDF

Funds towards setting up irrigation facilities in water-scarce Saurashtra region

National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 790.80-crore loan to Gujarat government for expansion of three existing pumping station on Saurashtra branch canals under Rural Infrastructure Development Fund (RIDF).

"The loan has been given to the state to develop critical infrastructure particularly to provide irrigation facilities in the water-scarce Saurashtra region," Nabard stated in an official communique.

The sanction project involves enhancement of three existing pumping station by installation of nine additional pumps at each of the pumping station on Saurashtra branch canal of Sardar Sarovar Project at Dhanki, Adalsar and Bala village of Surendranagar district.

Nabard stated that, on completion, the project would provide irrigation for an additional 302,742 hectares of Saurashtra region. Moreover, it will generate recurring employment of about 5,000 jobs a year.

With this sanction, Nabard loan assistance to the Gujarat government has extended to Rs 2,903.49 crore under RIDF during 2015-16.

The cumulative loan assistance sanctioned under the fund since inception in 1995-96 crore, to the state government aggregated to Rs 19,808.26 crore against which an amount of Rs 14,677.40 crore has been utilised till the date.