The state-run National Bank for Agriculture and Rural
Development (NABARD) has set an target of providing Rs 30,000 crore as credit
to farmers for irrigation over the next three years, a senior official said
here today. It was announced by Bank’s Chairman and Managing Director Dr. Harsh
Kumar Bhanwala in Mumbai on the occasion of 34th Foundation Day of NABARD. The
agriculture and rural focused lender has already sanctioned Rs 1,000 crore so
far this year, the official said.
This funding will be in addition to the government's recent
announcement of providing Rs 50,000 crore of loans to farmers over the next
five years (till 2020) under the Pradhan Mantri Krishi Sinchai Yojana (PMKSY).Besides,
it was also announced that NABARD has been accredited as the national
implementation agency for climate change at the rural level by the Green
Climate Fund (GCF). It should be noted that, NABARD is only the banking entity
from South Asia to be shortlisted for the purpose by GEF. The World Bank and
Asian Development Bank among others are the 20 such entities which have already
been shortlisted.
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