NEW DELHI: The World Bank said on Friday (Jul 19) that it had withdrawn US$300 million of funding for a new capital in Andhra Pradesh after the ...
NEW DELHI: The World Bank said on Friday that it had withdrawn US$300 million of funding for a new capital in Andhra Pradesh after the central government dropped support for the project.
The World Bank's withdrawal was reported by Indian media on Thursday but the federal government's involvement in that decision has not been previously disclosed, nor had the AIIB's plans for a review. AIIB spokeswoman Laurel Ostfield told Reuters in Beijing that it was aware the World Bank has dropped the project from its investment pipeline.
The Amaravati project, built on greenfield land on the banks of the sacred Krishna River, has been beset by accusations from activist groups of corruption and environmental damage. The state government has denied the accusations.
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