NABARD to provide financial support to water projects in Telangana

HYDERABAD: The National Bank for Agriculture and Rural Development ( NABARD) has agreed to extend financial support to 'Mission Kakatiya' and Telangana Drinking Water Project.

The Chief General Manager of NABARD, Hyderabad, called on Chief Minister K Chandrashekar Rao today and said this year the bank would give Rs 360 crore for 'Mission Kakatiya' (for revival of water bodies) and Rs 500 crore in the next financial year, according to a state government release.

The Drinking Water Supply Project would be funded from NABARD Infrastructure Development Fund as part of RIDF (Rural Infrastructure Development Fund) loan.

Mammen also assured Rao that with government guarantee, NABARD would also bring down the rate of interest.

He, however, requested Rao to divide the project into smaller phases so that they can put up some funds every year.

NABARD has agreed to give Rs 5,000 crore for the entire scheme, the release said.

Rao said ten per cent of water in every irrigation project in Telangana is reserved for drinking water.

Piped water will be provided to every house in municipal and urban areas, and people may come forward to pay for the scheme and this revenue would be used to pay NABARD back, he added.