World Bank's Continued Support Fuels Amaravati's Capital Development
The World Bank, in collaboration with the Asian Development Bank, has committed USD 800 million each for Amaravati's capital development. With a disbursement plan underway, the Andhra Pradesh government is poised to receive the next instalment as development progresses satisfactorily.
- Country:
- India
The World Bank is set to release a second tranche of USD 200 million for Amaravati Capital Phase-I by the year's end, according to Andhra Pradesh government officials. This follows USD 207 million already disbursed towards the development project.
Together, the World Bank and the Asian Development Bank have pledged USD 1.6 billion for Amaravati's development. The Indian government will contribute Rs 1400 crore to this effort, which is part of a broader Rs 15,000 crore commitment for phase-I.
Inspections by international teams ensure accountability in the development process. The World Bank recently expressed satisfaction with the progress, citing achievements in construction activities and the establishment of a management unit for environmental and social governance.
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