CBN Scaring World Bank Costed AP $300 Million?

War of words between YCP and TDP intensified after World Bank decided against offering $300 million funding to the AP Capital.

Chandrababu Naidu blamed YCP for withdrawal of funding citing it was then Opposition-led by YS Jagan which provoked farmers to lodge complaints with World Bank against Amaravati. 'TDP Government proposed World-class Capital and planned everything accordingly. Revenue can be generated only if we construct cities like Bengaluru and Hyderabad. Land Rates of the Capital region skyrocketed when we are in power. After the formation of YCP Government, Prices touched rock-bottom. This Government has projected Amaravati as Bramaravati and that's why Centre has withdraw its support,' he opined in Today's press meet.


Finance Minister Buggana Rajendranath Reddy reiterated World Bank has withdrawn its funding only because of loopholes in the report submitted by the TDP Government. He added, 'Even World Bank got scared looking at the functioning of the previous government when it comes to issuance of tenders. While all the bills benefitting contractors were cleared, Naidu didn't bother to clear the arrears of Fee Reimbursement. It's a clear indication of priorities of TDP Govt'.

Buggana revealed World Bank is appreciative of the measures taken by YCP Government in the past two months. He also informed about the Rs 5,000 crore funding promised by the World Bank to AP under YCP Rule.
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