{"id":311550,"date":"2024-12-12T21:00:18","date_gmt":"2024-12-12T15:30:18","guid":{"rendered":"https:\/\/www.telugu360.com\/?p=311550"},"modified":"2024-12-12T21:00:18","modified_gmt":"2024-12-12T15:30:18","slug":"adb-approves-960-million-funding-for-amaravati","status":"publish","type":"post","link":"https:\/\/www.telugu360.com\/adb-approves-960-million-funding-for-amaravati\/","title":{"rendered":"ADB Approves $960 Million Funding for Amaravati"},"content":{"rendered":"

In a significant development for Andhra Pradesh’s capital city project, the Asian Development Bank (ADB) has approved Rs 8,000 crore ($960 million) for Amaravati’s construction. The decision came during a crucial board meeting held in Manila, marking a major milestone in the capital city’s development journey.<\/p>\n

The Andhra Pradesh government has successfully secured total funding of Rs 15,000 crore through a combination of support from the Asian Development Bank, World Bank, and the Central Government of India. According to CRDA Commissioner Katamneni Bhaskar, the first installment of Rs 3,750 crore, representing 25% of the total funding, is expected to be released in January.<\/p>\n

Under the project titled “Inclusive and Sustainable Capital Development,” the government has received approval for 20 different development works with a budget of Rs 11,467 crore. The World Bank is expected to give its final approval during a meeting scheduled for December 19, further strengthening the financial backing for the project.<\/p>\n

The state government has already taken preparatory steps by clearing previous obstacles from the YSRCP period. Expert teams have conducted thorough assessments and confirmed the structural stability of buildings constructed during 2014-19. Additionally, necessary jungle clearance and site preparation work have been completed, demonstrating the government’s readiness to proceed with construction.<\/p>\n

HUDCO will provide additional funding support to complement the international financial institutions’ contributions. With this comprehensive funding arrangement in place, the government has set an ambitious target to complete the capital construction within three years, showcasing their commitment to expediting Amaravati’s development.<\/p>\n

The funding approval represents a renewed push from Nara Chandra Babu\u2019s Government for Amaravati’s development, and accelerate construction activities as soon as the funds are received. This development marks a crucial turning point in Amaravati’s journey toward becoming a fully functional capital city, with clear financial backing and implementation plans now in place.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a significant development for Andhra Pradesh’s capital city project, the Asian Development Bank (ADB) has approved Rs 8,000 crore ($960 million) for Amaravati’s construction. The decision came during a crucial board meeting held in Manila, marking a major milestone in the capital city’s development journey. The Andhra Pradesh government has successfully secured total funding […]<\/p>\n","protected":false},"author":16,"featured_media":293412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[298,1032,70075],"acf":[],"yoast_head":"\nADB Approves $960 Million Funding for Amaravati - Telugu360<\/title>\n<meta name=\"description\" content=\"the Asian Development Bank (ADB) has approved Rs 8,000 crore ($960 million) for Amaravati's construction. 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