World Bank Puts Amaravati Loan On Hold

The World Bank has put the loan for Amaravati Capital City Project on hold after a slew of complaints from some affected farmers. TDP leaders already alleged that YSR Congress is behind this to ensure that the ambitious project is not funded.

[m9ad]

World Bank has informed the CRDA that they will ascertain all the complaints pertaining the project like ill-effects on the environment, the effect on local employment, food security etc before sanctioning the loan, according to the rulebook

It will take about six months time for the process to complete. We already know that the state government is seeking about 5000 Crore for this project. The Cash-Strapped Andhra Pradesh is highly dependent on these loans to execute the project.

But then, the farmers who have voluntarily given their lands to the project in Land Pooling Scheme to the extent of about 30000 acres are worried about these development. The interests of a minority group of farmers prompted by political forces are hindering the project.