Nabard sanctions Rs 144.33cr loan for Kerala

Chennai/ Thiruvananthapuram: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 144.33 crore for 63 projects from its Rural Infrastructure Development Fund XIII (RIDF- XIII) to Kerala.

This includes funding for the implementation of the Chamravattom multipurpose project, which would involve a loan of Rs 95.12 crore, by the water resources department in Malappuram district across Bharathapuzha river.

The project, on completion, is expected to benefit an area of 3,235 hectares ensuring availability of sufficient water for rice cultivation, controlling the intrusion of saline water into the upstream side of the regulator and ensuring availability of assured water for drinking purpose.

As many as 16 villages, with a total population of around 43,000, are expected to get direct benefits. The project is also expected to reduce the distance between Kozhikode and Ernakulam by 40 km.

These apart, it will help in fish culture as well as water sports, cultural tourism and pilgrimage. This is the biggest project sanctioned by Nabard in Kerala so far, Bhawar Puri, chief general manager, Nabard (Kerala), said.

The bank has also sanctioned an RIDF loan of Rs 35.44 crore for the construction of 13 rural roads, which include a tourism road, and three bridges.

These projects would be undertaken at Alappuzha, Idukki, Palakkad, Kollam, Kottayam, Thrissur, Malappuram, Ernakulam and Kannur districts.

The sanctioned amount also includes a rural drinking water supply project in Karimkunnam Grama Panchayat involving an RIDF loan of Rs 3.10 crore to be implemented by the district panchayat in Idukki district.