World Bank's Financial Momentum Fuels Amaravati's Growth
The World Bank has pledged USD 800 million towards the Amaravati Capital Phase-I development. With USD 207 million already disbursed, its second tranche of USD 200 million is expected soon. The total funding for this phase, backed also by ADB and the Indian government, will drive significant progress.
- Country:
- India
The World Bank continues its financial backing for Amaravati Capital Phase-I development with the announcement of an impending second disbursement worth USD 200 million. This funding is part of a total commitment of USD 800 million by the World Bank, matched by an equal contribution from the Asian Development Bank.
According to Andhra Pradesh officials, nearly half of the initial USD 207 million disbursement has been utilized. The state government aims to expedite utilization to secure the next instalment before the year's end. Meanwhile, regular inspections and reviews by the World Bank and ADB ensure compliance and progress.
The Indian government is contributing an additional Rs 1400 crore to the project. While the World Bank expressed satisfaction over current progress, the final success will depend on continued diligence and strategic planning by the Andhra Pradesh Capital Regional Development Authority.
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