Nabard sanctions Rs 537 cr to AP

Hyderabad: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 537.24 crore to Andhra Pradesh.

The amount, released under the Rural Infrastructure Development Fund, would be used for taking up 1,159 projects in the areas of minor irrigation, roads and school infrastructure, a bank press release said here on Monday.

With this, the total sanctions under RIDF-III in 2007-08 stand at Rs 962.34 crore. The total Nabard assistance to the State was put at Rs 8,568 crore.

A major chunk of the current assistance would go to horticulture projects. “We have sanctioned Rs 148.67 crore for this sector covering 22 districts. It would bring 1.20 lakh hectares under drip and sprinkler coverage,” the release added.