Nabard sanctions Rs 295 crore loan to Maharashtra government

PUNE: National Bank for Agriculture and Rural Development ( NABARD) has sanctioned financial assistance of Rs 294.88 crore to Government of Maharashtra, out of its Rural Infrastructure Development Fund ( RIDF) for development of Roads and Bridges in the State.

The RIDF was established by the Government of India in 1995-96, wherein deposits from Scheduled Commercial Banks operating in India, to the extent of shortfall in their agricultural lending / priority sector/ weaker sections, are given at concessional rates to the State Governments for development of infrastructure.

The sanction of 311 Road and 74 Bridge projects sanctioned in 32 districts of the State would create connectivity to the extent of 667.2 km of Roads and 3388.21 metres of Bridges connecting 1380 villages, 710 marketing centres as also 320 tourist places and 311 pilgrimage centres.

It would create non recurring employment to the tune of 192.59 lakh mandays. The projects would be implemented by the Public Works Department (PWD).This is the first sanction under RIDF- XIX to the State of Maharashtra during 2013-14.