Mumbai, March 3: The national Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 603.45 crore from the Rural Infrastructure Developemnt Fund (RIDF-VI) for the creation of rural infrastructure in 13 states. Most of these projects will facilitate improving connectivity and increasing irrigation facilities in rural areas.The states are Andhra Pradesh (Rs 96.30 crore), Bihar (Rs 14.79 crore), Goa (Rs 11.90 crore), Haryana (Rs 39.39 crore), Himachal Pradesh (Rs 42.39 crore), Karnataka (Rs 96.86 crore), Kerala (Rs 26.57 crore), Madhya Pradesh (Rs 44.49 crore), Nagaland (Rs 1.13 crore), Punjab (Rs 18.89 crore), Tamil Nadu (Rs 24.66 crore), Uttar Pradesh (Rs 40.21 crore) and West Bengal (Rs 145.87 crore).
With this sanction, the total loan amount sanctioned to state governments under RIDF-VI will be Rs 3,519.19 crore. Some of the highlights in these sanctions are the setting up of a food technology park in Punjab, drinking water supplies in rural areas of Andhra Pradesh and Haryana, primary education school buildings in Himachal Pradesh and watershed developement in Andhra Pradesh.
Nabard has agreed to increase the start-up advance from the present 25 per cent to 30 per cent of the loan amount. u Two-thirds (20 per cent) of this amount would be released on acceptance of the terms and conditions of sanction, and the balance on commencement of the work on these projects.
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