Central Government’s Proposal Secures World Bank Loan for Amaravati Capital
The World Bank has given good news to Andhra Pradesh by approving a loan for the construction of its capital, Amaravati.
The World Bank board meeting held on Thursday reportedly approved an $800 million loan for the project.
Earlier, the Asian Development Bank (ADB) sanctioned a loan of $788 million for Amaravati’s development.
The Indian central government had announced in its budget that funds would be allocated through the World Bank and ADB. Combined, these institutions are expected to provide $1.588 billion for the capital’s construction.
Following the central government’s recommendation, the World Bank’s approval is now reportedly confirmed.
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