NABARD to extend Rs 659 cr financial assistance to K'taka

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Bangalore, Oct 20 (UNI) NABARD has committed a financial assistance to the tune of Rs 659 crore to Karnataka under Rural Infrastructure Development Fund (RIDF), Tranche-XIV.

The state government is likely to avail RIDF assistance of Rs 600 crore during 2008-09. So far, a sum of Rs 146.87 crore had been disbursed by NABARD to the state, a statement issued here today said.

Under Prime Minister's package, six distressed districts of the state had been sanctioned Rs 45.80 crore, covering 98 projects, including modernisation of minor irrigation tanks, construction of percolation tanks, barrages and life irrigation projects during the current fiscal.

These projects would provide assured irrigation to 5,433 hectares of land. Under the package, total assistance sanctioned by the bank for minor irrigation project for six districts stood at Rs 277.99 crore.

Meanwhile, NABARD had also released Rs 231.62 crore to cooperative banks and regional rural banks in the state towards agriculture debt waiver and debt relief scheme.

The state, which had earlier written-off farm loans amounting to about Rs 1,500 crore before the Centre, had announced the package had urged them to reimburse the amount.

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