NABARD sectioned 171.22-cr loan for rural projects

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The National Bank for Agriculture and Rural Development (NABARD) has sanctioned a Rs.171.22-cr loan to Himachal Pradesh for creation of rural infrastructure. The amount would be spent for the construction of 17 rural drinking water supply projects, 17 minor irrigation projects and 48 road projects.

The water supply project would benefit 66,969 residents of 264 villages of Bilaspur, Hamirpur, Kangra, Kullu, Mandi and Shimla districts.

Bank chief general manager Naresh Gupta said that this is the bank’s third sanction to the state during this fiscal. NABARD has so far sanctioned Rs.3,374-cr under various tranches of Rural Infrastructure Development Fund to the state.