Facts Behind World Bank's 'NO' Funding To AP

The World Bank decided against offering $300 million funding for the AP Capital. On Thursday, Official Website of the Bank posted that the proposal to offer funding for Amaravati Sustainable Infrastructure and Institutional Development Project has been dropped.

A World Bank Official disclosed, 'Government of India has withdrawn its request to the World Bank for funding Amaravati. World Bank's Executive Board Directors were informed by Indian Government that the proposed World-class Capital is no longer under preparation'.

CRDA Commissioner Lakshmi Narasimham told there was no communication from the Department of Economic Affairs (DEA), which is under Union Finance Ministry, on why the Union Government has withdrawn the request seeking funding for Amaravati.  

Actually, World Bank decided to conduct an in-depth inspection after Farmers in Amaravati and NGOs submitted petitions objecting the funding for the concrete jungle. A letter was sent to the YCP Government in this regard recently. AP Government sought more time to consider the request placed by the World Bank citing it's a new government. That is when Centre decided to withdraw the request for funding Amaravati why because inspection by the World Bank sets an unwarranted precedent and could have a negative impact on the other major projects in the country.

Chandrababu Naidu held YCP responsible for the present situation alleging Main Opposition had provoked Farmers to lodge complaints with the World Bank when TDP was in power. Govt Whip Srikanth Reddy shot back at TDP saying World Bank has withdraw funding due to the atrocities of Chandrababu Naidu.
× RELATED CBN Scaring World Bank Costed AP $300 Million?