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Web Exclusive | July 2013

KURDFC to give loans for solar projects of local bodies

Kerala Urban and Rural Development Finance Corporation (KURDFC), which provides financial support for development programmes of local bodies, is to provide loans to the tune of Rs 100 crore this year to local bodies in the state. This year it will support the local bodies to set up solar energy projects as well. KURDFC will provide finance to solar energy sector as well hereonwards, KURDFC Chairman K Moideenkoya has said.

Moideenkoya said on July 8 that a recent meeting of the agency’s director board had decided to fund housing schemes for the poor taken up by local bodies at low interest rates, and profitable ventures in the tourism sector. The KURDFC is the lone public-sector agency that provides funds for local bodies for development.

Last year the Corporation disbursed a loan of Rs.40 crore to local bodies. The loans would be for projects that would enable local bodies to become self-reliant. By providing financial help, the KURDFC aimed at enabling local bodies to build up more assets and enhance their revenue from non-tax sources.

It had also been decided by the KURDFC to set up a technical cell in order to avoid delays in granting clearance for projects submitted by the local bodies. The corporation would prepare a panel consisting of engineers, town planners and architects whose services would be available to local bodies to prepare projects.

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