The National Bank for Agriculture and Rural Development (NABARD), India, has approved a loan of Rs10.98bn ($198.8m) to develop rural roads and the Chambal canal in the state of Rajasthan.
The bank has also sanctioned another Rs3.1bn ($57.1m) loan for two road projects under its NABARD Infrastructure Development Assistance, a new line of credit available for rural infrastructure investment.
The loan will be used to for the development of Jaipur-Nagaur and Alwar Behror-Narnol road projects.
J Mammen, NABARD Rajasthan chief general manager, was quoted by the Business Standard as saying that: "The cumulative sanctions under Rural Infrastructure Development Fund (RIFD) for the current financial year have reached Rs 1,518 crore with the recent sanction."
NABARD has sanctioned approximately Rs18.33bn ($331.8m) of the total amount of funds in the state of Rajasthan for the rural infrastructure development for the current year of which Rs8.29bn ($150.2m) have been approved for road projects.
The roads to be developed will have 1.5-2km of average length and will connect villages with bigger centres.
The projects with financial plan of Rs6bn ($108.6m) will include development of 1,337 link roads covering a total distance of 2,127.49km across many districts.
A loan of RS2.29bn ($41.4m) has been sanctioned for other projects that include widening and strengthening of 71 district roads covering a distance of 793.72km.
A part of the sanctioned loan will also be used by the forest department to start the green initiative in the state.
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