Aizawl: National Bank for Agriculture and Rural Development (NABARD) chairman Dr. G.R. Chinatala on Thursday inaugurated the bank’s regional office building in Aizawl.

In his address, Chinatala mentioned about NABARD’s willingness to match state government’s efforts in accelerating the pace of development in the state.

He said that although NABARD has been supporting various developmental efforts since its inception in MIzoram, a lot is still left to be done to uplift the socio-economic infrastructure of the state.

 He particularly mentioned the need for meticulous planning and execution on the part of various departments to upgrade the state’s infrastructure.

NABARD started functioning in Mizoram as a sub-office in 1989 which was upgraded to a full-fledged regional office in 1992.

Since the inception of Rural Infrastructure Development Fund (RIDF) in 1995-96, NABARD has sanctioned an aggregate loan amounting to Rs.1744.51 crore involving 677 projects for critical rural infrastructure like rural roads, bridges, drinking water, health infrastructure, etc. of which Rs.1070.81 crore has been disbursed so far.Under the Warehousing Infrastructure Fund, NABARD has supported Mizoram government with total loan amount of Rs.112.76 crores in building 111 warehouses with aggregate capacity of 42,174 MT for storing agriculture and horticulture produce.

NABARD through its different grant schemes have supported various organisations, banks and local bodies in areas like tribal development, setting up rural markets, rural marts, spring shed development, providing banking technology products to MRB and MCAB, providing mobile ATMs, supporting innovative agriculture extension programmes, developing PACS, supporting GI products, skill development programmes, handloom producer organisation, financial literacy camps, among others. 

The total grant provided by NABARD during the last three years under its grant based development initiatives was more than 35 crores.

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