Rs 271cr Loan For Manipur

IMPHAL, Feb. 10: The National Bank for Agriculture and Rural Development (Nabard) has agreed to provide a loan of Rs 271 crores to the Manipur government for infrastructure development in the state.

The Ibobi Singh government plans to utilize the loan on five anti-erosion and flood control projects, construction of 300 school buildings under the six autonomous district councils in five hill districts and construction of 55 primary health centers in the hill districts.

An official source said Nabard would provide the sum from its rural infrastructure development fund.

The government had been seeking funds for the past few months for the projects and the bank finally agreed to provide Rs 271.65 crores, the source said.

The total cost of the projects will be Rs 310.97 crores and the state government will bear the rest of the amount.

The anti-erosion projects will be taken up along the Imphal, Thoubal and Nambul Rivers, as floods caused by the three rivers wreak havoc in Manipur valley every year. Last year, vast tracts of standing paddy crops were destroyed by floods in all the four valley districts.

The state government is also paying serious attention to improving infrastructure of schools and health centers in the five hill districts, as most schools and health centers in the hill districts are in a bad shape.

With the government constituting the six autonomous district councils after a gap of more than 20 years, the government wants to streamline functioning of the councils by improving infrastructure in the hills.

“The government is taking seriously the projects of construction of school buildings and health centers in the hills,” the source added.

The state government will repay the loan in seven years, at an interest rate of 6.4 per cent per annum.

The bank, however, made it very clear that if the state government does not issue work orders and start implementing the projects within two years, the funds would lapse.

(Courtesy: Telegraph India)

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