ADB okays ₹8K cr to develop Amaravati

Vijayawada : In a major development, the Asian Development Bank on Wednesday decided to extend financial assistance of Rs 8,000 crore for the construction of Amaravati, the capital city of Andhra Pradesh.

The ADB loan will be provided in Japanese yen and will be utilised to develop key infrastructure, including trunk infrastructure, a government complex, and neighbourhood infrastructure in Amaravati, benefiting farmers who are the stakeholders under the land pooling schemes.

It is also learnt that more financial assistance from the World Bank would also be sanctioned on December 17 when the board would meet.

The World Bank representatives had detailed meetings with state and Central officials and ADB representatives in Delhi and are said to have worked out a detailed proposal which would be placed before the World Bank board meeting. Once the proposal is cleared state and Central government officials will sign the agreement after which funds would be released. The ADB and World Bank together would be releasing Rs 16,000 crore for the capital city. In the backdrop of this development, Chief Minister N Chandrababu Naidu told the Collectors Conference that the Capital Region Development Authority (CRDA) had prepared a detailed action plan and tenders for various works would soon be finalized. He said the government would also focus on development of Visakhapatnam and Tirupati.

He said top 10 universities and top 10 hospitals of the world would also come to Amaravati. He told the Collectors that they should now speed up the process of imparting skill training so that 20 lakh jobs in five years could be created. Along with that the Collectors should gear up to implement the policy of ‘one family one entrepreneur’.