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.
Also Read | ADB Approves $500 Million for Green Infrastructure in India
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.
