JAMMU: The National Bank for Agriculture and Rural Development (NABARD) has sanctioned funds to the tune of Rs 400.64 crore to the union territory of Jammu and Kashmir for the current financial year, an official spokesman said on Saturday.

Against the normative allocation of Rs 500 crore for the current fiscal, Rs 400.64 crore was sanctioned for various projects of Public Works Department (PWD), Public Health Engineering (PHE) and animal husbandry, thus registering a cumulative achievement of 95.95 per cent, the spokesman said.

Financial Commissioner (Finance) Arun Kumar Mehta chaired the meeting to review the performance achieved under NABARD funded projects.

The meeting discussed the sanctioned projects which include 85 rural roads and bridges, 38 water supply schemes, and two animal husbandry projects, he said.

He said the projects worth Rs 99.08 crore have already been sent for sanctioning to NABARD. These include five of horticulture (fruit and vegetable market), six for extending the agriculture extension facilities, and eight for minor irrigation and flood control works.

The meeting also discussed ways to enhance the capacity of departments to utilise whole sanctioned amounts efficiently, the spokesman said.

