From Our Correspondent
Amaravati: The Capital Region Development Authority (CRDA) is set to secure an additional ₹32,500 crore loan to accelerate the construction of Amaravati, Andhra Pradesh’s capital city. The funding will come from a consortium including the World Bank, Asian Development Bank (ADB), NABFID, NABARD (NIDA), and the AP Power Finance Corporation (APPFC) — with APPFC already finalising a ₹1,500 crore loan.
The World Bank and ADB will together extend ₹14,000 crore, NABFID ₹10,000 crore, and NABARD ₹7,000 crore. CRDA has earlier borrowed ₹26,000 crore — ₹15,000 crore from World Bank and ADB, and ₹11,000 crore from HUDCO.
The renewed interest marks the World Bank’s re-engagement with the Amaravati project, which it had earlier withdrawn from in 2019 after the previous government stalled construction. With the new coalition government taking office in June 2024, the Centre facilitated the revival of foreign funding.
The state has planned 112 projects worth ₹91,639 crore, including core infrastructure, administrative buildings, and residential quarters for judges and officials. Tenders worth ₹53,388 crore have been floated, and construction on projects worth ₹38,926 crore has already begun.
Of the previously sanctioned funds, ₹4,285 crore from the World Bank-ADB and ₹2,750 crore from HUDCO have been released. With the upcoming ₹32,500 crore infusion, officials say Amaravati’s construction funding is now nearly secured, enabling rapid progress on key capital projects.