Amaravati development: World Bank approves $800 million loan

In a major boost to the development of Amaravati, the greenfield capital city of Andhra Pradesh, the World Bank on Thursday approved the $800 million loan for the Amaravati Integrated Urban Development Program. approves works worth ₹24,276 crore in capital city of Amaravati Tano Kouame, the WB’s Country Director for India, stated that with its urban population expected to double to 950 million by the year 2050, India aimed at building sustainable and livable cities as growth hubs and Amaravati offers an exciting opportunity to model that urban transformation. The WB funding would catalyse a private sector investment of more than $600 million to help the city become financially sustainable and provide economic opportunities for its residents. Amaravati development: Andhra Pradesh CM Chandrababu Naidu sets three-year deadline The WB would leverage international knowledge in sustainable urban design to build the city’s trunk infrastructure, including a road grid, public transport, and flood-mitigation and water/wastewater systems.