Farm ponds to be built in Belagavi, Gadag districts

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National Bank for Agriculture and Rural Development (NABARD), Deshpande Foundation, and Karnataka Vikas Grameena Bank (KVGB) have signed a memorandum of understanding (MoU) for promoting the construction of farm ponds in Belagavi and Gadag districts of northern Karnataka.

As per the MoU, farm ponds will be constructed in Belagavi and Gadag districts through formation and credit linkage of joint liability groups (JLGs).

Under the agreement, Deshpande Foundation will form JLGs and build farm ponds, and NABARD will provide incentives for establishing and supporting JLGs. KVGB will provide institutional finance to JLGs for the development of agricultural ponds.

Shreekant M Bhandiwad, Chairman of KVGB, said a plan has been made to motivate farmers to go for farm ponds in order to protect the crops. This will also encourage them to take up cultivation of vegetable crops.