Amaravati: A Greenfield Dream Fueled by Global Funding

The Central Government allocates over Rs 4,200 crore to Andhra Pradesh for the Amaravati Capital Development Project, backed by commitments from the World Bank and Asian Development Bank. The project, effective since January, aims to enhance the region's infrastructure, with planned future installments contingent on verified progress.

The Central Government has disbursed over Rs 4,200 crore to Andhra Pradesh for the Amaravati Capital Development project. This release follows the first disbursement of USD 205 million from the World Bank, highlighting the strategic financial support in place.

With a collective commitment from the World Bank and Asian Development Bank totaling USD 1,600 million, both institutions will contribute USD 800 million each for phase-I of the project. The Central Government is set to cover the remaining Rs 1,400 crore of the Rs 15,000 crore budgeted for the initial phase.

As part of the financial agreement, Andhra Pradesh has received Rs 4,285 crore from the Centre, as a 'Mobilisation Advance'. Progress-based future funding releases are anticipated, with inspection by international finance bodies ensuring compliance and project success.

(With inputs from agencies.)