World Bank Loan for Amaravati:
Since the coalition government came to power, good days have arrived for the capital city of Amaravati. The Asian Development Bank (ADB) had already sanctioned a loan of Rs. 6,700 crore for Amaravati, and now it is reported that the World Bank has also given its approval to provide a loan for the construction of the capital city. During a meeting of the World Bank Board held on Thursday, it was confirmed that the World Bank has approved a loan of Rs. 6,800 crore for Amaravati’s development. The central government had previously announced in its budget that it would provide funds for Amaravati’s construction. The government had stated that funds would be raised through the World Bank and ADB. These two institutions will provide a total of Rs. 13,500 crore for the project.
Rapid Development of the Capital:
Since the coalition government came into power, work on Amaravati has been progressing at a fast pace. The government has already given its approval for several projects to be undertaken in Amaravati. The Capital Region Development Authority (CRDA) has been granted permission to carry out 45 engineering projects at a cost of Rs. 33,137.98 crore. These projects include the construction of quarters for IAS and gazetted officers, 4th-grade employees, flood prevention measures, roads, and other infrastructure facilities. The Cabinet approved these projects in a meeting held on Thursday.
Amaravati to be Completed in Three Years:
In a key meeting chaired by Chief Minister N. Chandrababu Naidu at the Secretariat on Thursday, crucial decisions were made regarding the construction of Amaravati. The government has given approval for CRDA to take loans of Rs. 11,000 crore from HUDCO and Rs. 5,000 crore from the German KFW Bank. The government has expressed its commitment to completing Amaravati in three years. The Minister for Municipal Administration and Urban Development recently announced that tenders worth Rs. 62,000 crore will be called for next January for the development of the city.
