World Bank cancels Rs 2000 Cr loan to Amaravati

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The worst fears are coming true. The Amaravati Capital City dreams are shattered completely. The World Bank has dropped its earlier plan to extend Rs 2000 Cr loan to this project. The bank took the decision following a high-handed, negligent reply from the Jagan Reddy government. Recently, the bank asked AP to visit the Capital City area to inspect the ongoing works so as to sanction the loan. The YCP regime bluntly told the bank team not to visit as there is a new government in the state with a new set of priorities.

The World Bank senior officials and executives are literally stunned at the bold reply of the AP government. The bank has got lot of multi-crore projects in different countries. It has indicated all those as ‘Active’ in its website but Amaravati project is marked ‘Dropped’. This is the first project in the history of World Bank that a project is cancelled after giving in-principle agreement. After lot of paperwork and persuasion by the Naidu regime, the bank gave preliminary approval based on which the roads works are taken up in the Capital City area. YCP leaders like MLA Alla Ramakrishna Reddy achieved their goal of bursting the Amaravati bubble successfully now.

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