The World Bank has agreed to loan about Rs 6,800 Cr to the cash-strapped state of Andhra Pradesh for development of Infrastructure in and around the capital region.
There were several queries posed by the officials of World Bank and Union Finance Ministry before agreeing to disburse this massive loan. AP Chief minister Chandrababu Naidu has reportedly interacted with World Bank officials and explained them the plans of the State Government to speed up the construction of capital city.
Later, Chandrababu also convinced the Union finance ministry in this regard. Then the Union finance ministry has cleared the proposal and World Bank has approved the loan. The chief minister’s office has reportedly received communication over the loan approval from World Bank just the other day.
It could be seen a major relief to AP, which is facing crunch situation. The Rs 6,800 Cr loan is seen as one of the biggest loans extended to any states by the World Bank.
