The Hindu Business Line : Nabard to support rural innovations

Incubating ideas
Set up in October 2995, the fund has a corpus of Rs 145 crore.
Proposals to be invited from individulas, institutions.
Farming, allied activities such as water harvesting, organic farming to be covered.

Mumbai , July 30

Expanding its agri-centric nature of activities, Nabard is planning to focus on allied areas such as organic farming, water harvesting, rural energy and storage devices for agriculture products.

The financial institution is planning to promote activities in the non-farm, farm and microfinance sector under the Nabard-Swiss Agency for Development and Co-operation Fund (Nabard-SDC). The fund has to be utilised within a period of five to seven years.

The fund, which has a corpus of Rs 145 crore, was set up in October 2005.

This project would be an activity under the fund. The percentage of fund to be utilised for this scheme would be decided after reviewing the proposals.

Ads next week

Under this project, Nabard will invite proposals from individuals and institutions suggesting innovative approaches for farming and allied activities in rural areas.

"We are inviting institutions, individuals as well as bodies of individuals under this programme to suggest projects of innovative nature in the rural areas," said Mr G.S. Menon, Chief General Manager, Nabard. "From next week we will issue advertisements inviting applications for ideas."

Nabard invites proposals for projects covering areas such as biological and engineering measures or techniques which improve productivity of water, design of economic and efficient water harvesting structures, organic farming, involving biofertilisers, development of location specific crops, extension of technology like agri-clinics, village knowledge centres, materials and designs for rural roads, among others.

"Any idea in tune with the rural innovation fund would be supported," Mr Menon said.

Early implementation

The bank would review the suggestions, so that the project can be implemented soon.

"We realised that there is no dearth of innovations in rural areas. But they hardly receive the attention they deserve, and often the community is not able to reap any benefits. Once we approve the schemes, we will also give wide publicity the activities which will be funded under this programme."

Nabard would work in collaboration with the individual or institution chosen under the project as well as NGOs in the rural areas.

Mr Menon also said that as there is an absence of well-established NGOs to carry out functions in the rural areas, Nabard is thinking of granting 10-20 fellowships in NGO management.

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