World Bank 'Drops' $300 Million Amaravati Project

World Bank drops $300-million loan proposal to develop Amaravati after Centre withdraws request

World Bank drops $300-million loan proposal to develop Amaravati after Centre withdraws request

"The World Bank is not in a position to comment on the nature of internal consultations conducted by the government of India", he added. Chandrababu Naidu-led Telugu Desam Party was in power then.

The official said the worldwide organisation's board of directors was informed that the project was no longer under preparation. He said World Bank representatives had toured the area in 2017 and held public hearings with farmers, agricultural labourers and Dalits, who had complained against violations of existing rules in land pooling.

The World Bank had sought permission from the central government to conduct an independent investigation into complaints of irregularities such as forced land acquisition, NDTV reported. It gives loan to a state through the Centre.

"Naidu brought a bad name to Andhra Pradesh at the worldwide level with his illegal land dealings in Amaravati, which resulted in the World Bank opting out of the project", he alleged.

The Chandrababu Naidu government reportedly listed it under the Externally-Aided Projects under the Special Assistance Measures announced by the Narendra Modi government in 2016 so that the repayment burden would be taken on by the Centre.

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The project was to be co-financed by another multilateral funding agency Asian Infrastructure Investment Bank (AIIB).

The World Bank on Friday said it had pulled out of the Andhra Pradesh government's Amaravati capital city project following the withdrawal of request by the Government of India. "We hope the larger message of World Bank's pulling out of this project will be heard by the state and other financiers and will address the concerns of people with honesty and commitment".

"For a change, good sense has prevailed upon the bank to withdraw from the disastrous programme", Sreedhar R., the director of the Environics Trust, one of the activist groups that has been critical of the project, said in a statement. The state government has denied the accusations.

The new YSR Congress Party can still go ahead with the construction because the Centre allocates funds for various projects under the Amravati Capital City project. [Chief minister Y.S. Jaganmohan Reddy] came and sabotaged the project. The AP government can also reapply for loans after fulfilling the preconditions set by lending agencies like minimising environment impact, addressing concerns of loss of livelihoods and grabbing of fertile land and protecting the floodplains. Building on the Krishna's river bed would also increase the risk of flood, activists said.

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