NABARD sanctions Rs 1,513 cr for projects in HP

Shimla, June 17 (UNI) The National Bank for Agricultural and Rural Development (NABARD) has sanctioned a loan assistance of Rs 1,513.33 crore for executing 3,512 projects in Himachal Pradesh since the inception of Rural Infrastructure Development Fund (RIDF), an official spokesman said today.

Of the Rs 1,513.33 crore sanctioned to Himachal, a sum of Rs 986.20 crore has been disbursed to the state up to March 31, this year, he said.

The spokesman said major part of the loan had been sanctioned for roads and bridges for improving rural connectivity besides irrigation, watershed and flood protection works.

Referring to the loan extended by the NABARD to the state during 2006-07, he said the assistance both under RIDF and investment credit aggregated Rs 420.20 crore.

For the first time, RIDF sanctions in the state crossed the Rs 250 crore mark with disbursements at an all time high of Rs 140 crore, he said.

He said the bank sanctioned a loan assistance of Rs 274 crore for 385 projects in the state under the RIDF during the last financial year that was an increase of 21.9 per cent during 2005-06.

The disbursement under the RIDF amounted to Rs 140 crore during 2006-07 as compared to Rs 125 crore during the previous financial year, he said.

The spokesman said the bank had also provided refinance support of Rs 146 crore in the state during the last financial year to various banks to facilitiate investment in farm and non farm sectors.

Under the Centre's announcement of doubling farm credit, a sum of Rs 248 crore has been disbursed by the cooperative and regional rural banks in the state till February 2007 against the year's target of Rs 308 crore, he said.

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