Agency to finance housing schemes for the poor

Solar energy will be among the new sectors that will be provided funds by the public-sector Kerala Urban and Rural Development Finance Corporation Ltd (KURDFC), which provides financial support for development programmes of local bodies, KURDFC chairman K. Moideenkoya has said.

Mr. Moideenkoya said on Monday 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.

It had been decided to provide loans to the tune of Rs.100 crore this year to local bodies.

Last year the corporation disbursed a loan of Rs.40 crore to local bodies.

Towards self-reliance

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.

The KURDFC is the lone public-sector agency that provides funds for local bodies for development.

Panel to be drawn up

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.

A new building constructed in Thiruvananthapuram, near Secretariat, would house the head office of the KURDFC, and the office would start functioning from there shortly, he said.

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