The Housing & Urban Development Corporation Limited (HUDCO) has agreed to give a loan of ₹11,000 crore for the development of Amaravati, according to a press release from Municipal Administration Minister P. Narayana, who met HUDCO CMD Sanjay Kulshreshta in New Delhi on Monday.
The Minister stated that the World Bank and Asian Development Bank had already consented to lend ₹15,000 crore for Amaravati. With this, a sum of ₹26,000 crore would be at the State government’s disposal for constructing the capital city.
He asserted that it was because of the confidence in the NDA government in the State that banks and various multilateral funding agencies were coming forward to support the development of the capital city.
This helps the State government to go ahead with the construction of Amaravati as per the timeline that was set a few days ago by Chief Minister N. Chandrababu Naidu. Mr. Narayana said the creation of essential infrastructure in Amaravati was estimated to cost ₹50,000 crore, including ₹26,000 crore in the first phase.
Special Chief Secretary Anil Kumar Singhal, HUDCO Vijayawada Regional Manager B.S.N. Murthy and other officials were present in the deliberations with the HUDCO CMD.
Published – October 22, 2024 03:50 am IST
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