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Sat, Aug 24, 2019 | Last Updated 3:04 pm IST

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WB would extend special $1 billion assistance to AP for its development

WB would extend special $1 billion assistance to AP for its development
WB would extend special $1 billion assistance to AP for its development
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Amaravathi sources stated that after the brouhaha raised by the World Bank's recent decision to withdraw its financial support to the capital development in Amaravati, the top bank on Sunday in a significant decision announced that it would extend a special $1 billion assistance to the State government for development of health, agriculture, energy and disaster management sectors.

WB would extend special $1 billion assistance to AP for its development

Meanwhile in a statement released on Sunday evening, the World Bank said: "As the new government sets its development priorities, we stand ready to provide whatever support the state and the Government of india might request." Furthermore the statement read of the $ 1 billion financial aid, $328 million would be earmarked for Andhra Pradesh's health sector in accordance with an agreement inked with the State government on June 27, 2019.



Moreover as regards its decision to annul the agreement concerning capital development in Amaravati recently, it pointed to the Centre's decision to withdraw its proposal from the bank for the said project. The statement added "On July 15 the Government of india (GoI) 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".


WB would extend special $1 billion assistance to AP for its development
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