By Bizodisha Bureau, Bhubaneswar, April 12, 2018: The Indian government supported National Bank For Agriculture And Rural Development (NABARD), has notched up a record performance during the year 2017-18 by extending Rs. 17195 crore to Odisha more than double compared to Rs 8368 crore during 2015-16.

Under Rural Infrastructure Development Fund (RIDF), NABARD disbursed concessional loan of Rs 2,512 crore to the state government in 2017-18. Among the major infrastructure projects, NABARD sanctioned about Rs 1,500 crore for construction of 14 mega-lift irrigation projects, Rs 220 crore towards construction of 612 community based Lift Irrigation projects, Rs 128 crore for construction of 1 bridge over river Mahanadi in Cuttack district, Rs 217 crore for construction of 17 Flood Protection projects and Rs 166 crore for 175 rural drinking water supply schemes, during the year.

Cumulatively, NABARD has extended financial assistance of about Rs 15,000 crore in the State under RIDF, leading to irrigation facilities in an estimated 23 lakh hectare and construction of roads and bridges having length of about 10,000 KMs and about 1.15 lakh metres, respectively, according to a Nabard press release.

During 2017-18, NABARD extended financial assistance of Rs 1,044 crore towards completion of 8 mega irrigation projects under a dedicated fund, called Long Term Irrigation Fund (LTIF). NABARD also extended financial assistance of Rs 18 crore under WIF (Warehouse Infrastructure Fund) for construction of storage godowns in PACS (Primary Agricultural Cooperative Societies).

NABARD has been providing liquidity support by way of Short Term Refinance to Cooperative Banks and RRBs for meeting the credit needs of farmers for their agricultural operations at subsidized rates of interest. During 2017-18, refinance for short term loans to the tune of Rs. 7,930 crore was disbursed to the Cooperative Banks in the State.

To promote capital formation in agriculture, NABARD disbursed Long Term Refinance of Rs. 804 crore to Commercial Banks, Odisha State Cooperative Bank and one MFI during the year. Besides, Rs. 56 crore was extended on soft terms to the Odisha State Cooperative Bank under LTRCF (Long Term Rural Credit Fund), a dedicated fund instituted by Govt. of India in NABARD.

NABARD has identified certain major focus areas for the upcoming FY 2018-19. One major focus area is supporting irrigation facilities in the State by providing financial assistance under special Long Term Irrigation Fund (LTIF), in addition to RIDF (Rural Infrastructure Development Fund).