Odisha to Receive Rs 220 crore loan from NABARD for 57 Flood Protection Projects in State

The National Bank for Agriculture and Rural Development (NABARD) has approved a loan of Rs 220.50 crore to the Odisha government for the construction of 57 flood protection projects in the state.

The loan has been sanctioned under the Rural Infrastructure Development Fund (RIDF) of NABARD. According to officials, the projects will benefit the rural districts of Kendrapara, Bolangir, Kalahandi, Nuapada, Rayagada, Boudh, Nayagarh, Jajpur, Khurda, and Sonepur.

As per the information given to the media on Wednesday, the state water resources department would carry out the projects for the protection and restoration of riverbanks at 57 identified stretches on 32 different rivers and creeks in order to restore and stabilize agricultural land, produce standing crops, and provide flood relief operations by building one rural bridge.

Construction of launching aprons and stone packing of embankment slopes, raising and strengthening of embankments (107.74 km), construction of cement concrete guard wall, etc., construction of 93 new spurs, and provision of the road on embankments for a total length of 57.78 km are among the major items of work for flood protection.

In the Jagatsinghpur district, a box cell bridge will also be built over Sankha Creek. To stop saline intrusion into the farms in Patua and Baghadi, respectively, the creek includes sluices.

NABARD extends Rs 20 Lakh loan for Agri Business

Apart from providing aid for rural infrastructure, NABARD has also been assisting individual farmers, farmer groups, and those involved in Agri Business. While the central and state governments are constantly trying to double the income of farmers in the country, various schemes are also being run for financial and technical help in agriculture.

Agri Clinic-Agri Business Center Scheme is also being run, under which NABARD and financial institutions give loans at cheaper rates.

Farmers can relish the scheme run agriculture start-up or any business related to agriculture along with farming in the village itself. The best part of the scheme is that not only money is given at minimal interest to the applying farmer, but an additional 45 days of relevant training has been provided by the government before starting the subsidy and Agri business.

Under the scheme, one can obtain a loan of Rs 20 lakh to 25 lakhs from NABARD, and at the same time can get a 36 to 44 per cent subsidy on interest by the central government to reduce the loan burden.