The World Bank has approved an $800 million loan under the Amaravati Integrated Urban Development Program to support the development of Amaravati as a climate-resilient and well-managed greenfield capital city in Andhra Pradesh.

This program focuses on creating jobs and improving living standards for current and future residents, emphasising women, youth, and vulnerable groups.

The Government of India requested the loan to develop Amaravati as an economic hub and the state capital of Andhra Pradesh.

The loan has a final maturity period of 29 years, including a six-year grace period, and will be availed in Japanese Yen.

Auguste Tano Kouame, the Country Director for India, highlighted the World Bank’s role in designing city institutions and infrastructure to create economic opportunities.

Kouame described Amaravati as a model for urban transformation that aligns with India’s goal of building sustainable and liveable cities, as its metropolitan population is projected to double by 2050.

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