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Nabard okays Rs 1,400 cr for AP rural projects

Our Bureau

Hyderabad , Nov. 14

THE National Bank for Agriculture & Rural Development (Nabard) would offer funds to the tune of Rs 1,400 crore to Andhra Pradesh to improve amenities in rural areas under the specially designed Remote and Interior Areas Development (RIAD) programme.

According to official sources, the Nabard Chairperson, Ms Ranjana Kumar, who met the Chief Minister, Dr Y.S. Rajasekhara Reddy, here on Monday, has expressed in principle willingness to offer Rs 700 crore for the current fiscal and Rs 700 crore in the next fiscal.

The Project Implementation Committee is scheduled to meet in New Delhi shortly to clear the decks for Nabard to sanction funds to Andhra Pradesh, sources said.

In the first instalment, Nabard would sanction Rs 360 crore, mostly by December-end.

The RIAD programme is designed to provide protective and productive livelihood activities and raise the income levels of the below poverty line families.

In Andhra Pradesh, the programme envisages development of 3,812 villages in 18 districts.

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