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World Bank drops funding for Amaravati Capital

guduraju

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guduraju

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Former Andhra Pradesh chief minister Chandrababu Naidu’s dream capital project of Amaravati suffered a setback Thursday as the World Bank has decided against funding $300 million for the purpose. The World Bank’s website shows the status of the project as ‘dropped’. On a loan sought by the former CM, the bank was considering lending $300 million for infrastructure development in the capital under the Amaravati Sustainable Capital City Development Project; Amaravati Sustainable Infrastructure and Institutional Development Project.

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