NABARD sanctions financial assistance of Rs 230 crore for Mizoram

Under the Rural Infrastructure Development Fund, the National Bank for Agriculture and Rural Development (NABARD) has approved a Rs 230 crore loan to Mizoram for vital rural infrastructure development.

KVSSLV Prasada Rao, General Manager, NABARD, Mizoram Regional Office called on Chief Minister of Mizoram Pu Zoramthanga today to hand over the letter from Chairman of NABARD to the Chief Minister informing allocation of Rs.230 crore under RIDF XXVIII for sanctioning of rural infrastructure projects in the State of Mizoram.

The Mizoram chief minister Zoramthanga in a tweet said “NABARD has approved the allocation of Rs 230 crore under RIDF XXVIII for rural infrastructure projects in Mizoram.”

Rao requested the Chief Minister to kindly advise the Finance Department for submission of suitable proposals for sanction by NABARD. Zoramthanga also apprised about the on-going RIDF projects in the State.

The General Secretary of NABARD also updated the Chief Minister on NABARD's other efforts, such as bank refinancing, tribal development programmes, springshed development, financial literacy, and so on. He handed out a brochure detailing activities in the state of Mizoram.

Chief Minister thanked NABARD for the continued support for rural infrastructure projects and other initiatives in the State.

NABARD had begun functioning in Mizoram as a sub-office in 1989 which was later upgraded to a full-fledged Regional Office in 1992.