After the World Bank withdrew an expected loan of $300 million for construction of the Andhra Pradesh capital, the Asian Infrastructure Investment Bank (AIIB) has also dropped its plans to support the Amaravati project, according to Reuters.
Laurel Ostfield, Director General, Communications for AIIB reportedly told Reuters in an emailed statement, “AIIB is no longer considering the Amaravati Sustainable Infrastructure and Institutional Development Project for funding.”
The World Bank dropping the project last week has led to controversy and confusion in the state, with the ruling YSRCP and opposition Telugu Desam Party (TDP) taking turns to blame each other for the loss of funding.
https://www.thenewsminute.com/article/after-world-bank-china-based-aiib-drops-200-million-loan-amaravati-105979
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After the World Bank withdrew an expected loan of $300 million for construction of the Andhra Pradesh capital, the Asian Infrastructure Investment Bank (AIIB) has also dropped its plans to support the Amaravati project, according to Reuters. Laurel Ostfield, Director General, Communications for AIIB reportedly told Reuters in an emailed statement, “AIIB is no longer considering the Amaravati Sustainable Infrastructure and Institutional Development Project for funding.” The World Bank dropping the project last week has led to controversy and confusion in the state, with the ruling YSRCP and opposition Telugu Desam Party (TDP) taking turns to blame each other for the loss of funding. https://www.thenewsminute.com/article/after-world-bank-china-based-aiib-drops-200-million-loan-amaravati-105979