Andhra Pradesh Minister Nara Lokesh said development works in Amaravati are progressing rapidly without delays, calling the capital “unstoppable.” He also rejected opposition claims of inflated costs, highlighting ongoing construction of government buildings, housing projects, and drainage infrastructure across the capital region
World Bank has disbursed US$ 340 million for Amaravati Capital Phase-I, with further funding expected. The project, supported also by Asian Development Bank, aims to build infrastructure and boost jobs in Andhra Pradesh under a results-linked financing model
Andhra Pradesh has extended a government guarantee and a letter of comfort to CRDA to help secure a Rs 7,500 crore NaBFID loan for Amaravati’s development. The guarantee covers principal and interest, taking effect only if CRDA defaults
