World Bank drops plan to lend $300 million AP Capital

Huge setback for pet Andhra project as World Bank drops plan to lend $300 million

On a loan sought by the former Chief Minister, the World Bank was considering lending an amount of $300 million for infrastructure development in the capital of the state, under the Amaravati Sustainable Capital City Development Project. A big blow-up for the state of Andhra Pradesh. The Amaravati Capital City project suffered a setback as the World Bank has decided against providing $300 million funding for the purpose.

 

The plan to build the capital by acquiring land from farmers was opposed by several NGOs led by Narmada Bachao Andholan and Capital Region Farmers Federation, Working Group on International Financial Institutions, National Alliance of People’s Movements, Human Rights Forum, Andhra Pradesh, and Centre for Financial Accountability. They also protested against the development of the project very near to the Krishna riverbank. Considering the petitions filed by the NGOs, the World Bank had sought an inspection report on whether the then state government had followed all the commitments it made and whether the building of the capital city followed all rules and regulations.

 

 

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