Advertisement

Home PoliticsAndhra News

World Bank agrees to fund AP, but not Amaravathi!

World Bank agrees to fund AP, but not Amaravathi!

The World Bank has decided to compensate Andhra Pradesh for its recent decision to drop USD 300 million loan for the construction of Amaravathi city.

It agreed to fund the same amount for other urban development programmes in AP and also for improvement in health, education and other priority sectors.

In a statement issued on Sunday, the World Bank said, “The World Bank continues to support the state of Andhra Pradesh with over $1 billion program that covers the health, agriculture, energy and disaster management sectors. This includes a new $328 million support to the state’s health sector signed with the Government of Andhra Pradesh on June 27, 2019.”

It stated, “The World Bank has had a long and productive partnership with the state of Andhra Pradesh. The state has pioneered some remarkable development innovations, such as the women’s self-help group movement, that other countries have learned from. The World Bank is proud to have collaborated on these programs, and to have helped carry these examples to the rest of the world.”

As the new government sets its development priorities, we stand ready to provide whatever support the state and the Government of India might request, the World Bank noted.

Explaining the reasons for dropping loan to Amaravathi, the World Bank said, “On July 15 the Government of India (GoI) withdrew its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project. The World Bank’s Board of Executive Directors has been informed that the proposed project is no longer under preparation following the government’s decision..”

Meanwhile, AP Chief Minister’s Office issued a statement on Sunday saying that, "The main reasons behind the World Bank backing out of the Amaravati capital city project were considered to be rampant corruption during previous TDP government besides flouting of various socio-economic norms. The TDP government has invited tenders for infrastructure development even before the World Bank loan details were finalised.”

Advertisement

RELATED ARTICLES

Tags: Amaravathi Andhra Pradesh World Bank