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Mon, Aug 26, 2019 | Last Updated 3:37 am IST

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Central Government Behind World Bank Refusing Loan for Amaravati?

Central Government Behind World Bank Refusing Loan for Amaravati?
Central Government Behind World Bank Refusing Loan for Amaravati?
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The World Bank has decided not to fund Amaravati Sustainable Capital City Development Project, the ambitious project of former Andhra Pradesh chief minister Chandrababu Naidu. The World Bank's Website marked the project as 'Dropped'. The total project cost was USD 715 million with the World Bank planning to provide a loan of USD 300 million.


The World Bank had apparently taken into consideration widespread complaints lodged by farmers in the region on alleged forcible taking over of their fertile lands by the previous dispensation in the name of land pooling for capital development. Some residents had written to the inspection panel of the World Bank not to fund the project.


World Bank wanted to do a comprehensive on-ground survey of the area to decide about the loan but the state government is not in favor of it. Sources say that the Central Government instructed the State Government not to allow the comprehensive survey as that impact the other projects being funded by World Bank in the court.


Central Government Behind World Bank Refusing Loan for Amaravati?
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Nimisha is a typical Hyderabadi who raves about food and films. Formerly a Techie employed with Satyam, she writes about cinema since eight years and as for the other passion, she is a popular food blogger. She completely took her passion as work post the Satyam fiasco. Besides food and films, she is also fascinated to history and cricket.