World Bank's Big Shock To AP Govt

World Bank's Big Shock To AP Govt

The Chandrababu vs YS Jagan clash is more likely to escalate with a small status change in World Bank's website.

World Bank, a financial institution which offers interest-free lending & grants to governments of various nations, on Thursday dropped $300 million loan to Andhra Pradesh's state capital 'Amaravati'. The Projects and Operations page on World Bank website showed that committed amount of $300 million has been dropped for 'Amaravati Sustainable Infrastructure and Institutional Development' project. The total project cost proposed by AP government, in the past is $715 million.

However, the Amaravati CRDA (Capital Region Development Authority) Commissioner Lakshmi Narasimham said that there is no confirmation from World Bank regarding the same. However, national media reports indicate that complaints from farmers and public associations in AP have made World Bank to take this decision. Also, the residents of Amaravati have reportedly took to World Bank Inspection Panel complaining that Amaravati development project is impacting the livelihood, environment, food safety.

Considering all the complaints and grievances from various sections, World Bank has been reportedly delaying the sanction and finally pulled out of it.

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