Banks pledge Rs.17,500 cr aid for building Amaravati

Energy, infrastructure and CRDA principal secretary to Andhra government Ajay Jain has said that the World Bank, Hudco and Andhra Bank have, in principle, sanctioned an amount of around Rs.17,500 crore for construction of Amaravati.
In a teleconference on Tuesday , chief minister N Chandrababu Naidu took stock of the funding for development of infrastructure in Amaravati. “Perhaps, this is the first time in the country that a massive support came from financial institutions for construction of a capital city in a short span of time,“ Jain said.
After Ajay Jain informed him about World Bank, Hudco and Andhra bank coming forward to provide funds, the CM said special efforts should be made to approach international financial institutions to attract loans at low interest rates.

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