Rs 17,500 Crore Pledged By Banks For Amaravati

The World Bank, Hudco and Andhra Bank have collectively sanctioned an amount of around  Rs 17,500 crore for the development of Amaravati. This news has been confirmed by the energy, infrastructure and CRDA principal secretary to the government, Ajay Jain.

The CM said extra effort must be made to approach international financial institutions for loans at low interest rates. In a teleconference, Chief Minister N Chandrababu Naidu reviewed the funding for the development of Amaravati.

Jain said that this is the first time in our country that any state has received such massive support, in a short span of time, from financial institutions for the construction of a city.

Chief Minister N Chandrababu Naidu has huge plans for Amaravati and the state of Andhra Pradesh in general. He announced on his FB page that basic infrastructural work on Amaravati will be completed by 2018, with work to begin next year. He promised this Vijayadashimi that Amaravati will take shape by next Vijayadashimi. A Space Innovation Centre to promote space science will be set up in Amaravati and there’s also news about educational cities coming up.  

This post was last modified on 18/11/2016 2:18 pm

Share
Leave a Comment

Recent Posts

Rushikonda buildings: Chandrababu Naidu hits out at Jagan

Chief Minister N Chandrababu Naidu has come down heavily on former Chief Minister Y S…

6 hours ago

Roads in State will be pothole-free by Sankranti: CM

Chief Minister N Chandrababu Naidu has said all roads in the Andhra Pradesh state should…

6 hours ago

5 reasons why you should watch Bhool Bhulaiyaa 3 now!

Kartik Aaryan's new horror-comedy, Bhool Bhulaiyaa 3, is the talk of the town, winning hearts…

7 hours ago

Bigg Boss Telugu 8: Nikhil’s Aggression Shocks The Audience!

Bigg Boss Telugu is a popular reality show with a huge viewership from all ages.…

10 hours ago

IT employee dies in road accident in Vizag

A youth died in a road accident near Panorama Hills in the limits of the…

11 hours ago

7 upcoming events in Visakhapatnam this November that are actually fun!

As we step into a new month, fresh possibilities and memories waiting to be made…

11 hours ago