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ADB Approves USD 788.8 Million Loan To Andhra Pradesh To Develop Amaravati

By TheCSRUniverse Team Published 12 Dec 2024

Pix for representational purpose only.

Manila, Dec 12, 2024: The Asian Development Bank (ADB) has approved a USD 788.8 million results-based loan to the state of Andhra Pradesh for the development of Amaravati as a green and smart capital city that offers world-class infrastructure. The loan will be provided in Japanese yen with a total value of 121.97 billion yen.

The Amaravati Inclusive and Sustainable Capital City Development Program is designed to transform Amaravati into a growth hub for the region, enhancing economic prospects, providing job opportunities, and improving living conditions of the residents. Public investments will focus on key infrastructure development, including trunk infrastructure, government complex, and neighborhood infrastructure benefiting farmers who are the stakeholders under the land pooling schemes. The program will be supported in collaboration with other multilateral development banks (MDBs) to ensure timely and high-quality delivery of infrastructure and services.

“ADB and other MDBs will bring global expertise and technical support to the Government of Andhra Pradesh, laying the groundwork for a dynamic, sustainable, and vibrant capital city. Our collaboration will span climate-resilient urban planning, establishing governance and institutional frameworks, and social inclusion,” said ADB Country Director for India Mio Oka. “We believe that Amaravati will become a replicable model for not only developing greenfield cities but also for systematic and orderly transformation of peri-urban areas of existing cities throughout the country.”

The program will improve access to infrastructure and green spaces, water and sanitation services, low-carbon transport infrastructure, and improve drainage systems to mitigate flood risks. The program aims to support the government in bringing anchor investors, generate private investment, and create new jobs benefiting women and youth.

ADB’s contribution will strengthen urban institutions and governance framework through sustainable asset management, fostering public–private partnerships, supporting climate change and disaster risk management, promoting gender equality and social inclusion, and leveraging smart technologies to improve urban planning and service delivery.

ADB remains committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while continuing efforts to eliminate extreme poverty. Established in 1966, it is owned by 69 members — 49 from the region.