Nabard sanctions Rs 124 crore loan to Punjab

The National Bank for Agriculture & Rural Development has sanctioned a loan of Rs 124.25 crore to the Punjab government under the Rural Infrastructure Development Fund (RIDF). With this, cumulative sanctions to the state under different tranches of RIDF have reached Rs 3,459 crore.

The first project involves an RIDF loan of Rs 88.67 crore that includes widening, strengthening and reconstructing 66 roads in rural areas. Besides 10 bridges in nine districts including Amritsar, Bathinda, Gurdaspur, and SAS Nagar will be constructed.

The second project includes lining of the New Chhangha Distributory, and Chhangha/Ferozepur Distributory System that involves a loan of Rs 13.20 crore. The third project involves an RIDF loan of Rs 22.38 crore.