Tuki acknowledges NABARD’s role in expanding infrastructure network

nabamtukilatestITANAGAR, May 6: Chief Minister Nabam Tuki today acknowledged NABARD’s role in expanding infrastructure network in Arunachal Pradesh through RIDF and in implementing various development projects at grassroots level.

Inaugurating NABARD's office-cum-residential complex here at Bank Tinali, Tuki said during his interactions with villagers across the state, he has learnt about one institution doing something for them, which was NABARD. He said that among the financial institutions operating in the state, NABARD's contribution is far greater than any other institutions.
Tuki also expressed his wish of receiving more funding under RIDF & outside RIDF and expected advisory support from NABARD in future.

Appreciating the state Govt for playing a major role in allotting land for the office, NABARD Chairman Dr. Bhanwala said that NABARD has already sanctioned projects involving financial assistance of more than Rs. 1200 crore and with the coming up of its own office cum residential complex, it would be much easier and convenient for NABARD to broaden it's horizon in the state. He assured the Chief Minister that NABARD's cooperation with the state Government will reach newer heights in the coming years.

Earlier yesterday, Dr. Bhanwala and H.R.Dave, DMD, NABARD, called on the CM and had a meeting with the senior state government officials at the CM's conference hall. Presentations were made by NABARD GM/OIC H.S. Singh and state Govt planning secretary Sonam Chombay in the meeting. During the discussions NABARD Chairman opined that RIDF financing being lower than market borrowing rates, the state Govt needs to consider borrowing to maximum possible limit in the state.

Chief Secretary Ramesh Negi, while giving priority on financing of road projects, emphasized on the need to draw a pragmatic mapping of connectivity requirements in Arunachal as the improved road connectivity would lead to better price realization for agriculture and horticulture crops which are in demand. Appreciating the efforts of NABARD in identifying infrastructure gaps in critical areas, he stressed on the need of creation of marketing & storage infrastructure and promotion of tourism.


He also proposed to take the help of NABCONS in mapping the potential of comprehensive development of the state, especially in agriculture & horticulture. Tuki proposed to draw up a criteria of selection of projects to be prioritized under RIDF and requested NABARD to consider funding of projects outside the borrowing limit set by GOI. Dr. Bhanwala suggested that the state government may consider availing financial assistance through financially sound state PSUs/ Boards.

In the meeting, issues relating to revamping the cooperative structure by bringing in professionalism and recapitalization of Arunachal Pradesh State Cooperative Apex Bank and LAMPS were also discussed. Dave suggested that LAMPS should be strengthened to play a major role in financial inclusion. It was agreed that SHGs and farmers' clubs can also contribute greatly in integrated development of Arunachal Pradesh.

On a request from the Chief Minister, Chairman, NABARD assured to provide financial support for installation of solar home lighting systems in about 500 families on a pilot basis under RIDF.

src: arunachaltimes

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