Three Financial Giants Bring Together Rs 17,500 Cr for Amaravati

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Energy, infrastructure and CRDA principal secretary to government Ajay Jain has said that the World Bank, Hudco and Andhra Bank have, in principle, sanctioned an amount of around Rs 17,500 crore for the construction of Amaravati.

In a teleconference, Chief Minister N. Chandrababu Naidu took stock of the funding for development of infrastructure in Amaravati. “Perhaps, this is the first time in the country that a massive support came from financial institutions for construction of a capital city in a short span of time,” Jain said.

After Ajay Jain informed him about World Bank, Hudco and Andhra bank coming forward to provide funds, the CM said special efforts should be made to approach international financial institutions to attract loans at low interest rates.

After the construction of New Secretariat at Velagapudi, the actual construction of AP’s future capital city is all set to take off. Amaravati is now top priority for the newly formed state of Andhra Pradesh. Starting from building the city to several schemes and projects, everything possible is directed at and routed to the upcoming city. AP state government intends to build Amaravati into one of the top metro cities of India, flaunting state of the art architecture, buildings, infratsructure, economy and standard of life.



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