ADB approves loan to boost Andhra Pradesh’s green city
The Asian Development Bank (ADB) approved on Thursday a $788.8 million results-based loan in Japanese yen (¥121.97 billion) for Andhra Pradesh, a state SE India, to develop Amaravati as a green and smart capital city with world-class infrastructure.
The Amaravati Inclusive and Sustainable Capital City Development Programme aims to turn Amaravati into a regional growth hub, boosting the economy, creating jobs, and enhancing living conditions, ADB’s report said.
Public investments will prioritise key infrastructure development, such as trunk infrastructure, government complexes, and neighbourhood infrastructure to benefit farmers involved in land pooling schemes.
The programme will receive support from various multilateral development banks (MDBs) to ensure efficient and timely delivery of infrastructure and services, according to the report.
“Our collaboration will span climate-resilient urban planning, establishing governance and institutional frameworks, and social inclusion,” said ADB Country Director for India Mio Oka.
The programme aims to enhance access to infrastructure, green spaces, water and sanitation services, low-carbon transport infrastructure, and drainage systems to reduce flood risks.
It also seeks to assist the government in attracting anchor investors, promoting private investment, and generating employment opportunities for women and youth, the report mentioned.
Attribution: The Asian Development Bank report
Subediting: M. S. Salama
