The Hindu : Karnataka / Bangalore News : NABARD sanctions Rs. 310 cr. loan to State

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Tuesday, Nov 03, 2009
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Karnataka

Karnataka - Bangalore

NABARD sanctions Rs. 310 cr. loan to State

Special Correspondent

BANGALORE: The National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan of Rs. 310.28 crore to the State Government for rural infrastructure projects under the Rural Infrastructure Development Fund (RIDF).

The funds will be utilised for construction of roads and bridges, minor irrigation structures, buildings of pre-university and first grade colleges, industrial training institutes, rural godowns and sericulture in various districts, according to a NABARD press statement.

RIDF-15

The loan amount has been sanctioned under the Rural Infrastructure Development Fund-15 by the projects sanctioning committee at a meeting held in New Delhi on October 22.

Of the Rs. 310.28 crore, Rs. 98.57 crore has been sanctioned for rural roads and bridge projects; Rs.123.52 crore for minor irrigation projects; Rs. 4.75 crore for sericulture units; Rs.10.97 crore for construction of rural godowns; Rs. 27.77 crore for infrastructure development of first grade colleges; Rs.4.42 crore for ITI buildings and Rs.40.27 crore for construction of new classrooms in government pre-university colleges.

Beneficiaries

The funds would be utilised for construction of 67 rural roads and bridge (858.31 km), which would benefit 671 villages in 25 districts.

Roads would provide connectivity to 303 marketing centres.

Irrigation projects

A total of 337 minor irrigation projects spread over the State would be taken up under the Rural Infrastructure Development Fund, which would ensure irrigation facility to 15,202 hectares of land. Funds would e utilised for infrastructure development in 27 first grade colleges, two ITI buildings and construction of 584 new classrooms in 272 government pre-university colleges, which would result in additional intake of about 15,300 students, the statement said.

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