The Karnataka Government is seriously contemplating establishment of a new agency, Cauvery Jala Bhagya Nigam, to mobilise Rs 5,000 crore towards completion of on-going projects in the Cauvery river basin by water year 2004-2005. State Minister for Water Resources H.K. Patil told reporters in Bangalore on Friday that the Government was looking to form the new agency since it was felt that the State's poor financial position would hinder timely completion of on-going projects with budgetary support alone.