After the World Bank (WB) announced the backing out of Amaravati capital city project, by withdrawing its $300 million funding, there were severe discussions in the Andhra Pradesh state assembly where the arch-rivals YSRCP and TDP mudslinging on each other.
However, the World Bank on Sunday made it clear that it had withdrawn the loan proposal for the construction of Amravati, the capital of Andhra Pradesh on the request of the Indian government.
The World Bank official said, “The Government of India has written a letter requesting the World Bank to withdraw the previous request of loan allocation for the proposed Amravati Sustainable Infrastructure - Institutional Development Corporation.”
“On this note, we have disapproved the loan proposal to Amaravati.” the official added.
Despite denying the loan for Amaravati, the world bank has assured to continue the necessary financial support to the state if the state government approaches the WB with the central government.
“The World Bank has a long and fruitful partnership with Andhra Pradesh. The state has been a pioneer in many aspects by undertaking innovative development initiatives such as the formation of women self-help groups. Other countries have learned such innovative programs from Andhra Pradesh.” a statement issued by the World Bank official.
“We are proud to partner with Andhra Pradesh on such initiatives and to be a good role model for the rest of the world," the official added.