The World Bank, on the 18th of July, refused to fund the Andhra Pradesh Government for the development projects in Amaravati, Andhra Pradesh (AP.)
After a recent board meeting of the World Bank, the officials and board members dropped the plan to fund the Amaravati development projects due to technical reasons.
According to sources, the World Bank refused to grant the money due to the objection of the Central Government regarding an independent investigation. The World Bank, in 2016, agreed to grant money for the development projects, but asked to investigate and monitor the projects independently.
The Capital Region Development Authority (CRDA,) during the rule of the Telugu Desam Party (TDP,) proposed to the World Bank, with a complete report, about their plans for development. At that time, the World Bank agreed to pay, but after a recent meeting, they took a step back from their decision.
Speaking about the reason, the farmers’ allegations against the TDP regarding irregularities and protests against the same could be one of the reasons behind the decision of the World Bank. Besides, farmers’ concerns about their lands on the river banks and the violation of environmental laws could also be a reason for the denial of funds.
The refusal of the World Bank to fund Amaravati is said to be a major drawback for the newly formed Government of AP, the Yuvajana Sramika Rythu Congress Party (YSRCP.)
