NABARD to spend Rs 250 crin cyclone-hit areas of Orissa

NABARD to spend Rs 250 crin cyclone-hit areas of Orissa
ENS & AGENCIES

BHUBANESWAR, DECEMBER 31: The NABARD has decided to spend Rs 250 crore for undertaking rehabilitation and reconstruction work in cyclone-affected areas of Orissa. NABARD managing director Y.C. Nanda told a official meeting here that projects worth Rs 150 crore were already on for rural development. Out of this, Rs 63 crore had already been released, he said. Nanda said that priority would be given to the repair of roads, bridges, irrigation and rural development.

CM Hemananda Biswal requested NABARD to provide assistance for undertaking plantation in western Orissa, which, besides checking pollution, would provide job opportunities to the people.

NABARD has also said that it would reconsider the state government's proposal to extend long-term assistance to the cyclone-affected weavers' cooperative societies under its re-finance scheme.

Nanda, who held discussions on post-cyclone issues with officials of the Orissa State Cooperative Banks, regional director of the RBI, regional heads of commercial banksand officials of regional rural banks , told The Indian Express that NABARD was contemplating extending the facility to viable societies which had repayment capacity.

On a request by the Orissa State Cooperative Bank for a grant from NABARD's Cooperative Development Fund for repair of buildings and replacement of other office materials of primary agricultural cooperative societies, Nanda said that NABARD was ready to provide loan to those societies which had repayment capacity.