Bhubaneswar: The National Bank for Agriculture and Rural Development (NABARD) has sanctioned an assistance of Rs 951 crore to the State Government under Rural Infrastructure Development Fund (RIDF).
The fund has been sanctioned for construction of 176 rural road projects to be implemented by the Rural Development Department of the State Government in all the 30 districts of the State.
The Road projects with a combined length of 1434 KM will improve rural road connectivity for 9.92 lakh people in 959 villages, officials said here on Thursday.
This sanction is on the line of priority fixed by the State Government for developing critical rural infrastructure for drinking water supply, irrigation and rural connectivity (road and bridge).
With this sanction, the cumulative sanction under RIDF XXVII reached a level of Rs 3852 crore for the current financial year and the total cumulative sanctions since inception of RIDF has crossed Rs 32,000 crores for Odisha, the officials informed.
These infrastructure projects will play a key role in supporting the rural economy by improving the livelihoods of people.
Recently, the NABARD has mapped the credit potential of Odisha. It has projected State’s overall credit potential under priority sector at Rs 1,34,665 crore for the financial year 2022-23.