National Bank for Agriculture and Rural Development (NABARD) on Monday has sanctioned Rs 266 Crore to Punjab to upgrade rural…
Punjab Chief Minister Amarinder Singh. (Photo: SNS/File)
National Bank for Agriculture and Rural Development (NABARD) on Monday has sanctioned Rs 266 Crore to Punjab to upgrade rural roads and bridges projects.
Informing the same on Monday, State’s Public Works Department (PWD) minister, Vijay Inder Singla said that Punjab finally gets first approval for Rural Infrastructure Development Fund (RIDF) from NABARD in two years. It has taken immense efforts and persuasion at departmental and personal level to get the things going, he added.
PWD minister said the loan assistance is for 71 roads and six bridge projects in the state. The projects include widening and strengthening of 500 kilometer stretch of existing roads to improve rural connectivity and strengthening or constructing bridges.
Advertisement
The projects will be implemented by the PWD. After completing the modalities, the work will commence in two months and will be completed in a time bound manner in about 18 months, Singla added.
This is the phase-one of the project comprises of RIDF loan to the tune of Rs 213 Crore and the state share of Rs 53 Crore.
“Efforts are afoot for obtaining approval from NABARD for other road sector projects in phase-two of the (RIDFXXIV) which are approximately to the tune of Rs 140 crore,” added the minister.
Advertisement
