VIJAYAWADA: Amaravati’s long-stalled construction projects are set for a revival with a substantial Rs 15,000 crore loan from the World Bank and Asian Development Bank (ADB). Officials from the Union Finance Department, CRDA, and Amaravati Development Corporation (ADC), along with representatives from the World Bank and ADB, completed the loan terms to advance Amaravati’s urban development. The ADB board will meet on December 11, followed by the World Bank on December 17. Bhaskar disclosed that the loan includes a five-year moratorium on repayment for Rs 13,500 crore, with the Centre covering the remaining amount. Additionally, a tender for a continuous online river water quality monitoring station in Amaravati has been announced as part of the project.

Source: Indian Express November 13, 2024 13:00 UTC