World Bank to compensate for Amaravati project

Amaravati (Andhra Pradesh): The Andhra Pradesh govt on Sunday said that The World Bank has given positive indications towards compensating the dropped $ 300 million loan for developing capital city of Amaravati and moving the aid to other important sectors. According to a press note released by the CMO on Sunday, "The World Bank has given enough indications pointing at compensating the dropped $ 300 million loan for the capital city to other sectors and there is every possibility of an increase in the quantum of aid." "The bank is now not averse to extend the loan to Andhra Government, with YS Jagan Mohan Reddy at the helm, should it mention its priorities," it added.

The statement from the Andhra Pradesh govt came days after the World Bank dropped the multi-crore Amaravati infrastructure project citing non-compliance of its policies. The Chief Minister's office also slammed the previous Chandrababu Naidu government for alleged corrupt practices which forced the World Bank to drop out of the Amaravati development project."The main reasons behind the World Bank backing out of the Amaravati Capital City project were considered to be rampant corruption besides flouting of various socio-economic norms. The TDP government has invited tenders for infrastructure development even before the World Bank loan details were finalised," the release noted.

It added that the World Bank team that toured the proposed city area region in 2017 found many irregularities in the tender process. The release further read, "The team has found numerous irregularities in land pooling, utilisation of verdant agriculture land for other purposes, agriculture workers losing livelihood, serious environmental violations, the plan of the new proposed capital affecting the course of Krishna river and other issues."

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