NABARD sanctions a loan of Rs 547 cr to UP
National Bank for Agriculture and Rural Development has sanctioned a loan of Rs 546.46 crore to Uttar Pradesh for various development projects under Rural Infrastructure Development Fund.india Updated: Oct 27, 2009 14:54 IST
National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan of Rs 546.46 crore to Uttar Pradesh for various development projects under Rural Infrastructure Development Fund (RIDF).
"The loan had been sanctioned for construction and modernisation of 8200 blast-wells covering eight districts, modernisation of 38 pump canals covering 19 districts of eastern region," NABARD's Chief General Manager DP Misra said in Lucknow on Tuesday.
The loan will also cover 46 flood protection projects in different districts and a project on tree improvement under forestry sector.
The CGM said since inception of RIDF in 1995-96, a cumulative financial assistance to the state government to the tune of Rs 8494.46 crore has been sanctioned for executing 22,279 projects.
The blast-well irrigation project in Bundelkhand and Eastern region will create and restore irrigation over 24,600 hectare benefiting mostly small and marginal farmers, Misra said.
The modernisation of irrigation projects would restore irrigation potential of 47,824 hectare in eastern region and the flood control projects would protect approximately 1,15,359 hectare agricultural land in 1,157 villages.
The forestry project aiming at creating infrastructure for production of quality planting material of forest trees would help to enhance productivity of tree crops in forest and farm lands.