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

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

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

The meeting discussed the sanctioned projects which include85 rural roads and bridges, 38 water supply schemes, and two animal husbandryprojects, he said.

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

The meeting also discussed ways to enhance the capacity ofdepartments to utilise whole sanctioned amounts efficiently, the spokesmansaid.