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Nabard sanctions Rs 2.54 cr to Kerala

Our Bureau

THIRUVANANTHAPURAM: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 2.54 crore to Kerala under its Rural Infrastructure Development Fund IX (RIDF IX).

According to Mr B. S. Shekhawat, Chief General Manager, Nabard, the funds will be utilised for implementing four drainage and flood protection projects in three districts.

These projects are J Block Kayal Padasekharam and Olokkary-Koduvathara Padasekharam in Kottayam district, the Pookkaitha project in Alappuzha and the Porkulam watershed project in Thrissur district.

On completion, these projects are expected to protect an area of 1,834 hectares from flooding and water logging-related problems. The gross cropped area is expected to increase by 403 hectares, while the gross domestic product will look up by Rs 1.34 crore. The projects are also expected to generate non-recurring employment potential of 0.61 lakh mandays. With this sanction, the aggregate amount advanced to Kerala under the RIDF series would go up to Rs 1123.12 crore in respect of 3,062 projects, Mr Shekhawat said.

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