Irrigation projects

The National Water Development Agency (NWDA) has secured a Rs.19,702 Crore loan for irrigation projects from the National of Agriculture and Rural Development (NABARD).

The loan would be part of the Central government’s share of assistance to State Governments and will ensure front loading of resources so that the identified incomplete irrigation projects are executed in time.

Announcing the loan, Union Finance and Corporate Affairs Minister Arun Jaitley advised the agencies closely monitor the progress of work on all projects.

NABARD has set-up a Long Term Irrigation Fund (LTIF) as a sequel to the initiative announced Jaitley in Budget Speech 2016-17.

Dr Harsh Kumar Bhanwala, Chairman, NABARD said the bank would also be extending 15-year loan support to the willing State Governments at reasonable rate of interest to meet their share in the identified irrigation projects.

The estimated fund requirement is in the order of Rs78,535 crore in the next four years. fii-news.com