World Bank turns down Amaravathi loan proposal of 2,000 cr

World Bank turns down Amaravathi loan proposal of 2,000 cr
World Bank turns down Amaravathi loan proposal of 2,000 cr

It’s known fact that post-state bifurcation, it requires thumping amount to build a new capital for a state. This is what in the case of Andhra Pradesh, the youngest state. From the latest update, we hear that World Bank has turned down the loan proposal of Rs. 2,000 crore that is meant to build the Amaravathi (capital of Andhra Pradesh). WB has dropped the loan because of the central government as it withdrew its application towards it.

On speaking to the media, World Bank spokesperson Sudip Mozumder has revealed that the project is no longer under preparation following the government’s decision.

Sudip said, “The project was only being prepared, it was in the initial stage”. He was tight-lipped on why the government has withdrawn its application of support citing that has to be responded by the government.

Reports say WB has sought the permission from centre for an independent investigation in the state for the complaints on the force-land acquisition and other. On this central did not show any interest and has withdrawn its application, for which loan proposal got rejected.

Building Amaravathi would cost more than Rs 1 Lakh crore. Now, it has to wait and see how current Chief Minister YS Jagan Mohan Reddy would tackle this situation.