In a major forward step in the development of Amaravati capital region, the government has issued orders on the utilization of funds provided by the World Bank and the Asian Development Bank for the sustainable development and construction of the capital city of Amaravati. It has stated that the World Bank and the Asian Development Bank will jointly provide loan assistance of Rs 15,000 crore.
It has been clarified that with these funds, activities should be taken to ensure that infrastructure, green structures and employment opportunities are of the highest standards in the capital city of Amaravati. Orders have been issued directing the CRDA to implement the plans to be taken up for the development of Amaravati as a public capital.
It has been ordered to undertake projects related to facilities such as main roads, ducts, drains, flood water flow canals, water reservoirs and safe drinking water. The proposals submitted by the AP CRDA for the sustainable development of the capital of Amaravati were given. It was revealed that the Union Ministry of Economic Affairs has approved it.
It was also revealed that the World Bank and the Asian Development Bank have approved these proposals and have come forward to provide financial assistance of $800 million each for the development of Amaravati city. It has been clarified that the state government will raise the remaining funds with the help of the Center.
The government has issued orders authorizing the AP CRDA Commissioner to receive financial assistance from the World Bank and the Asian Development Bank. It has been decided to set up a special account to receive funds from banks in phases based on development and construction plans.
The government has clarified that special allocations in the budget for the construction plans of the capital Amaravati and special activities will be undertaken. It has issued orders clarifying that these development and construction plans will be implemented under the supervision of the AP CRDA Commissioner.
Special Chief Secretary of the Municipal Administration Department G. Anantha Ramu has issued orders to this effect. As per the government’s orders, CRDA Commissioner Katanneni Bhaskar will sign an agreement on loan assistance from the World Bank and the Asian Development Bank in Delhi on Monday and Tuesday.
