The World Bank, Hudco and Andhra Bank have collectively sanctioned an amount of around Rs 17,500 crore for the development of Amaravati. This news has been confirmed by the energy, infrastructure and CRDA principal secretary to the government, Ajay Jain.
The CM said extra effort must be made to approach international financial institutions for loans at low interest rates. In a teleconference, Chief Minister N Chandrababu Naidu reviewed the funding for the development of Amaravati.
Jain said that this is the first time in our country that any state has received such massive support, in a short span of time, from financial institutions for the construction of a city.
Chief Minister N Chandrababu Naidu has huge plans for Amaravati and the state of Andhra Pradesh in general. He announced on his FB page that basic infrastructural work on Amaravati will be completed by 2018, with work to begin next year. He promised this Vijayadashimi that Amaravati will take shape by next Vijayadashimi. A Space Innovation Centre to promote space science will be set up in Amaravati and there’s also news about educational cities coming up.