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Monday, January 22, 2018

IFAD sanctions $30mn loan for NE

Saturday, 11 November 2017 12:42
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SHILLONG, November 10: The International Fund for Agricultural Development (IFAD) has agreed to sanction a soft loan of USD 30 million for the fourth phase of Northeast Community Resource Management Project (NERCOMP) for the region that is scheduled to start soon. North Eastern Council (NEC) secretary Ram Muivah informed here today that IFAD has approved the loan and now Ministry of DoNER and NEC together would take forward the NERCOMP IV project.

The NEC secretary said that under the project new districts would be covered. However, details are yet to be finalised.

Rasha Omar, IFAD, India Director, said that the soft loan has been approved with an annual interest of two per cent to be repaid over a period of 20 years with a grace period of five years.

Under the fourth phase of the project, new innovative ideas would be incorporated and these would be taken up in new districts in the Northeastern States.

NERCORMP is a livelihood and rural development project aimed at transforming the lives of the poor and marginalised tribal families in the region. NERCORMP is a joint developmental initiative of the NEC, Ministry of DoNER and IFAD.

The project is underway in various districts of the region including, Meghalaya, Assam and Manipur. Under the third phase, it has been extended to Arunachal (Tirap and Changlang) and Manipur (Chandel and Churachandpur). Omar said that under the fourth phase, “new innovations” would be incorporated in the project.

She said some of the qualities lacking in the remote areas of the region is “leadership and clarity of vision,” which hopefully the fourth phase of the project would try to address. (Courtesy: AT)

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