ANANTAPUR: The National Cooperative Development Corporation (NCDC) has decided to implement the Integrated Cooperative Development Programme (ICDP) in nine districts in the State from the current financial year.

The five-year project is aimed at improving the financial position of the cooperative societies by providing financial assistance to their activities.

Besides Anantapur, other eight districts selected for the new project are Kadapa, Ranga Reddy, Mahabubnagar, Adilabad, Karimnagar, West Godavari, Vizianagaram and Srikakulam. District Cooperative Central Bank has already sent proposals with a financial outlay of Rs. 20.11 crores to the NCDC for covering all the cooperative societies in the district during the five-year project period. According to the officials, the NCDC will extend financial assistance to the cooperative societies for development of infrastructure such as construction of godowns, setting up banking counters and procuring furniture and fixtures, among others. Natural and human resources available locally will be utilised to improve the financial position of the societies. Natural and human resources available locally will be kept in mind while extending the finance to the societies.

The societies could take up agriculture and other allied activities like fisheries, sericulture, horticulture, dairy and handlooms with the assistance.

Besides, self-help groups and weaker sections in the societies will also get the financial assistance under the project.

Margin money option

Margin money will be given in the form of share capital to enhance the borrowing capacity of the societies. Subsidy will be given for maintenance of the project, human resource development and training of the society members.

The officials stated that 8 per cent interest rate would be charged to the borrowing societies under the project.

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