The Asian Development Bank (ADB) has approved a $788.8 million (₹6,600 crore) results-based loan to Andhra Pradesh for developing Amaravati as a green and smart capital city with world-class infrastructure.
The loan, denominated in Japanese yen (121.97 billion yen), is part of the Amaravati Inclusive and Sustainable Capital City Development Programme. This initiative aims to establish Amaravati as a regional growth hub, driving economic opportunities, job creation, and improved living standards for its residents.
Mio Oka, ADB Country Director for India, highlighted that Amaravati is envisioned as a replicable model for building greenfield cities and transforming peri-urban areas across the nation. “ADB, along with other multilateral development banks, will provide global expertise and technical support to Andhra Pradesh, creating a dynamic, sustainable, and vibrant capital city,” Oka said.
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The programme focuses on attracting anchor investors, fostering private investment, and generating employment, particularly benefiting women and youth. It will also strengthen urban governance, promote public-private partnerships, integrate climate change and disaster risk management strategies, and enhance urban planning through smart technologies.
This significant funding is part of a broader $1.6 billion commitment by ADB and the World Bank to develop Amaravati as a benchmark for sustainable and inclusive urban development.
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