World Bank to release funds for Amaravati: Andhra Pradesh CRDA

Municipal minister and vice-chairman of AP Capital Region Development Authority, P Narayana, said that the WB has responded positively to the State government’s request to release financial assistance

Published: 20th July 2018 02:28 AM  |   Last Updated: 20th July 2018 02:28 AM   |  A+A-

By Express News Service

VIJAYAWADA: Municipal minister and vice-chairman of AP Capital Region Development Authority (APCRDA), P Narayana, said that the World Bank has responded positively to the State government’s request to release financial assistance at the earliest for construction of Amaravati.

Speaking to the media after inspecting the ongoing works in the capital region on Thursday, Narayana said, “When Chief Minister Chandrababu Naidu met the CEO of World Bank, Kristalina Georgieva, at the World Cities Summit in Singapore, she informed him that the loan would be processed at the earliest. Meanwhile, we are seeking funds from Hudco to expedite the execution of the projects in Amaravati.”

The minister added that out of the planned Rs 48,000 crore worth projects in the capital, `30,000 worth projects were underway. “The administrative procedures pertaining to the remaining Rs 18,000 crore will also be concluded shortly. The works will be immediately launched,” he said.

He further observed that the construction of houses for officials and MLAs/MLCs is going on at a brisk pace. “Last week, the fourth floor was being constructed. Now, the fifth floor is being readied. In the coming two months, all the 12 floors will be ready. We are able to complete the work briskly due to the shear wall technology that is being used,” he explained.

Chairperson and Managing Director of Amaravati Development Corporation Ltd, D Lakshmi Parthasarathi and CRDA officials were present.

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