NABARD sanctions Rs 735.53 cr to facilitate 86 govt projects

Kolkata: National Bank for Agriculture and Rural Development (NABARD) on Monday claimed to have sanctioned Rs 735.53 crore during the first quarter of the current fiscal, under the Rural Infrastructure Development Fund (RIDF) to Bengal government, for facilitating execution of 86 projects. The funds have been provided at a concessional rate.

A statement released by NABARD stated that the rural infrastructure projects include six solar power projects, works on one medium irrigation, five minor irrigation and 12 flood protection projects, besides 57 projects of widening and strengthening of roads and five rural bridges.

As per the statement, the grid connected solar power projects, apart from generating 88.61 MU of green energy per annum, will also be beneficial towards preventing emission of millions of tonnes of climate damaging carbon dioxide gas.

The works on the irrigation projects are expected to benefit an area of 11,554 hectares, besides addressing problems of wastage of water at upstream areas, seepage loss, deposition of silt, insufficient height of canal, which have been resulting in unsure and short supply of water in the command area.

Elaborating further on the projects, the financial institution said that the flood protection projects are aimed at addressing erosion of river banks, which is gradually engulfing valuable homestead and cultivated land. About 155 villages will benefit from the irrigation and flood work, the statement mentioned.

"Widening and strengthening of 57 roads would facilitate 352.81 km in 14 districts and this would help farmers access agro inputs and markets for their agricultural produce, along with other facilities," a senior official of NABARD said. Rural bridges would lead to saving of a 82 km distance, the statement added.