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Saturday, Aug 24, 2019

World Bank to support Andhra with over $1 billion after Amaravati move

Ruling YSRCP and TDP had blamed each other for World Bank’s dropping of the loan proposal.

india Updated: Jul 22, 2019 06:46 IST
Press Trust of India
Press Trust of India
A computer-generated representative photo of Andhra Pradesh's
A computer-generated representative photo of Andhra Pradesh's "world class" capital Amaravati presents a spectacular first look, but World Bank has dropped the proposal. (File Photo provided by AP government)

The World Bank, which has dropped a loan proposal for Amaravati project, Sunday said it continues to support Andhra Pradesh with over a billion USD programme that covers health, agriculture, energy and disaster management sectors.

This includes a new 328 million USD support to the state’s health sector, signed with the Andhra Pradesh government on June 27, 2019, the bank said in a release.

“As the new government sets its development priorities, we stand ready to provide whatever support the state and the Government of India might request,” it added.

The World Bank’s statement comes in the backdrop of its dropping a 300 million USD loan proposal for the Amaravati Sustainable Infrastructure and Institutional Development Project.

“On July 15, the Government of India withdrew its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project. The World Bank’s Board of Executive Directors has been informed that the proposed project is no longer under preparation following the government’s decision,” it noted.

This has resulted in a blame game between the ruling YSR Congress and the opposition Telugu Desam Party, with each accusing the other for the bank dropping the loan proposal.

“The Washington-based bank is now not averse to extending loan to AP government according to the latter’s priorities. The possibility of increasing the quantum of loan was also not ruled out by the bank,” a senior official in the Chief Minister’s Office said.

First Published: Jul 22, 2019 01:30 IST

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