Nabard provides loan for Gujarat warehouses

31 January 2012: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 42.46 crore under the Rural Infrastructure Development Fund XVII to the Gujarat Government for construction of warehouses. These warehouses will have a storage capacity of 87,600 tonne at 52 locations in 16 districts. The project will be implemented through the Gujarat State Civil Supplies Corporation Ltd. and aims at creating scientific storage capacity for agricultural produce.

Besides, the project is expected to provide assured food grains, cereals, etc. to 35 lakh below the poverty line (BPL) cardholders under the Targeted Public Distribution System, reduce spoilage and wastage of food grains and avoid distress sale by farmers. With this, the cumulative sanction of loan to the State Government by Nabard under RIDF has gone up to Rs 10,453.90 crore so far, involving 50,176 projects.

Source: Hindu Business Line