The Hindu : Business : NCDC loans for fisheries coops.

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Thursday, Dec 14, 2006
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NCDC loans for fisheries coops.

Staff Reporter

KOCHI: The State Government recommended disbursal of Rs.15 crore to fisheries cooperatives in the State, said B.R. Nair, Regional Director of National Co-operative Development Corporation (NCDC), in a statement here on Monday.

Guarantee for loans

Several other projects, including the second phase of the integrated Cooperative Development Project in Wayanad district; construction of godowns and other infrastructure; margin money for marketing operations of cooperatives, recommended by the Government were also under the NCDC consideration, said Mr. Nair.

The Government continued to recommend proposals of cooperatives seeking financial assistance from the NCDC.

It was not aware of any categorical decision of the Government to stop guarantee to NCDC's loan to cooperatives. Mr. Nair was reacting to a statement by the chairman of the Kerala State Cooperative Marketing Societies' Association published in The Hindu that the State Government decision not to stand guarantee for loans to cooperatives would leave the regional office of the NCDC without work.

Mr. Nair expressed optimism that the Government would recommend more proposals during the current year. NCDC's funding of the cooperatives in the State was on the rise during the last three years.

During 2004-05, the NCDC released Rs.109.24 crore while during the last financial year, it released Rs.190.99 crore.

The NCDC was also providing assistance to cooperatives without guarantee from the State Government. Out of the Rs.200 crore targeted during 2006-07 in the State, the disbursement by the NCDC as on date was Rs.104.66 crore. Of this Rs.100 crore pertained to direct funding to cooperatives.

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