The World Bank and the Asian Development Bank (ADB) have approved an additional loan proposal of Rs. 15,000 crore for the construction of Amaravati, the capital of Andhra Pradesh. These funds were sanctioned following a request from the AP CRDA.
These international financial institutions expressed their satisfaction with the pace of work in the capital region, including worker welfare, environmental protection, and the development of modern infrastructure.
Representatives from the World Bank and ADB commended Amaravati, stating that it is poised to achieve a unique international standing among planned cities. They highlighted its potential as a model for urban development.
Officials stated that this additional loan will ensure the capital's construction proceeds swiftly without financial constraints. This funding is expected to provide a boost to the ongoing projects.
Currently, 102 key projects are underway in Amaravati, with an estimated cost of Rs. 52,000 crore. These works are progressing rapidly to meet their respective deadlines.
