VIJAYAWADA: The Andhra Pradesh Capital Region Development Authority (APCRDA) will develop facilities in the low-income settlements of Amaravati with Rs 146 crore. The project would be taken up with the grant expected under the Cities Investment To Innovate, Integrate and Sustain (CITIIS) programme of the Ministry of Housing and Urban Affairs (MoHUA) for the development of smart cities.
According to APCRDA officials, the cost required to develop these low-income settlements in Amaravati is pegged at Rs 146.39 crore. Out of this, Rs 80 crore is expected to be financed under the CITIIS programme. “The aim of the project is to use social innovation to improve the basic infrastructure in low-income settlements. The MoHUA has tied up with the French finance agency, AFD, which will offer loan at a nominal interest rate. While 50 per cent of the Rs 80 crore will be given as a grant, the rest, including the interest, should be borne by the State government,” an official said.
For the record, the CITIIS programme was a funding announced by the Centre last year. As part of it, cities participated in a challenge and pitched in innovative social projects to be eligible for the funding. The challenge encouraged pitches on projects in four particular sectors such as sustainable mobility, public open spaces, urban governance and Information and Communication Technology (ICT), and social innovation in low-income settlements. Amaravati participated in the challenge and sought funding for the project in the last category. The official further added that the authority had sent a proposal to the State government seeking guarantee to the loan component.
“The government has also given its approval for extending the guarantee. Amaravati Smart and Sustainable City Corporation Ltd will be executing the project, which will take off shortly,” the official said.