Amaravati, the erstwhile dream capital of Andhra Pradesh, is finally back in business with a much-needed push of funds. The long-abandoned project, which had come to a halt for years, has now got a total of ₹4,285 crore worth of fresh investments, marking a big turnaround in the state’s capital development journey.
The World Bank has disbursed its initial tranche of ₹3,535 crore, while the Central Government has contributed ₹750 crore out of its assured share of ₹1,500 crore. This money is a part of a larger financial deal that includes ₹15,000 crore loans from the World Bank and the Asian Development Bank (ADB), as well as a further ₹11,000 crore assistance from HUDCO.
Shortly after taking office, Naidu met with World Bank officials, promoting Amaravati as a capital city constructed to international standards. His pitch was well-received, after which he sought the help of Prime Minister Narendra Modi. PM Modi too was supportive, providing sovereign guarantees needed for the clearance of the international loans.
Soon after taking office, Naidu met with World Bank officials, marketing Amaravati as a capital city constructed to international standards. His pitch was well received, after which he met with Prime Minister Narendra Modi to seek his backing. PM Modi also responded positively, providing sovereign guarantees needed for the clearance of the international loans.
Thanks to this collaborative push, both the World Bank and ADB agreed to provide ₹15,000 crore in funding for Amaravati’s development. The Centre’s share of ₹1,500 crore will supplement this, with ₹750 crore already transferred to the state’s treasury.
The first installment from ADB is also expected soon, which will further energize the state’s capital construction plans.
With the funds finally flowing in and the new government showing strong intent, Amaravati’s vision of becoming a world-class capital is once again gaining momentum. The future of Andhra Pradesh’s administrative and developmental hub looks bright as work is expected to pick up pace in the coming months.
