World Bank may fund other projects as 'compensation' for dropping Amaravati deal

Amaravati: After dropping the plan to extend a loan of USD 300 million to Andhra Pradesh for construction of Amravati, the World Bank may fund other projects as “compensation”.

A senior official from Andhra Pradesh Chief Minister’s office said that there were enough indications to point that the World Bank may provide funds for other sectors and even increase the amount of aid, reported News18.

Earlier, the Bank had dropped the proposal of funding for the Amaravati Sustainable Infrastructure and Institutional Development Project. It had cited non-compliance of its policies, especially those related to settlements with affected parties.

The TDP government had invited tenders for infrastructure development even before the World Bank loan details were finalised.