World Bank Announces 1 Billion US Dollar Financial Aid To Andhra Pradesh

Amaravati: After the brouhaha raised by the World Bank's recent decision to withdraw its financial support to the capital development in Amaravati, the top bank on Sunday in a significant decision announced that it would extend a special $1 billion assistance to the State government for development of health, agriculture, energy and disaster management sectors.

In a statement released on Sunday evening, the World Bank said: "As the new government sets its development priorities, we stand ready to provide whatever support the state and the Government of India might request."

Of the $ 1 billion financial aid, $328 million would be earmarked for Andhra Pradesh's health sector in accordance with an agreement inked with the State government on June 27, 2019, the statement read.

As regards its decision to annul the agreement concerning capital development in Amaravati recently, it pointed to the Centre's decision to withdraw its proposal from the bank for the said project.

"On July 15 the Government of India (GoI) withdrew its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project. The World Bank’s Board of Executive Directors has been informed that the proposed project is no longer under preparation following the government’s decision," the statement added.

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