World Bank on Thursday, dropped $300 million loans to Andhra Pradesh’s state dream capital ‘Amaravati’. The Projects and Operations page on the World Bank website showed that a committed amount of $300 million has been dropped for ‘Amaravati Sustainable Infrastructure and Institutional Development’ project. The total project cost proposed by the AP government-led by Nara Chandrababu Naidu in the past is $715 million.
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 environmentalists in AP have made the World Bank take this shocking decision. Several e-mails are sent to World Bank by farmers from Amaravati region and also, the residents of Amaravati have reportedly taken to World Bank Inspection Panel complaining that Amaravati development project is impacting the livelihood, environment and food safety.
World Bank has been reportedly delaying the sanction of $ 300 million and finally dropped out of it.