రాజధాని వరదముంపు నివారణకై రూ8500 కోట్లు మంజూరు

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రాజధాని వరదముంపు నివారణకై రూ.8,500 కోట్లు మంజూరు ! • #AmaravatiDevelopment • #AndhraPradesh • #WorldBank • #AsianDevelopmentBank • #FloodMitigation • #InfrastructureInvestment • #CRDA • #UrbanDevelopment • #SustainableCity • #CapitalRegion • #SmartCities • #PublicInfrastructure • #EconomicGrowth • #JobCreation • #Amaravati2024 • The recent agreement between the World Bank, Asian Development Bank (ADB), and the Capital Region Development Authority (CRDA) of Andhra Pradesh marks a significant milestone for the development of Amaravati, the state's capital. The total loan amount approved is ₹15,000 crores, with specific allocations aimed at enhancing infrastructure and flood mitigation efforts in the region. • Loan Allocation Details • Flood Mitigation: Approximately ₹8,500 crores of the loan will be dedicated to flood mitigation measures in Amaravati. This includes constructing reservoirs and drainage systems to manage stormwater effectively and prevent flooding from local water bodies like Kondaveeti Vagu and Palavagu. • Infrastructure Development: The remaining ₹6,500 crores will be used for essential infrastructure projects, such as: • Construction of government buildings (including the Legislative Assembly and High Court). • Development of residential and commercial layouts for farmers who contributed land under the land pooling scheme. • Establishment of drainage systems, main roads, and other public facilities to ensure a sustainable urban environment. • Financial Terms • The loan comes with favorable conditions: • A 15-year grace period before repayments commence. • An interest rate below 4%. • The repayment burden is shared between the central and state governments in a ratio of 90:10. • Project Timeline • The CRDA is expected to receive the first tranche of ₹3,750 crores soon after the formal signing of the agreement, anticipated by mid-November 2024. Subsequent tranches will be released before the end of the financial year, facilitating immediate commencement of construction activities123. • Context and Importance • This financial backing is crucial for revitalizing Amaravati's development after years of stagnation due to political shifts and funding issues. The project aims not only to build infrastructure but also to create job opportunities and foster a modern urban ecosystem in Andhra Pradesh. The involvement of international financial institutions like the World Bank and ADB signifies confidence in Amaravati's potential as a sustainable capital city456. • The CRDA has been tasked with executing these plans under strict oversight, ensuring that projects align with sustainable practices and meet high standards for public infrastructure3. As this initiative progresses, it represents a pivotal step towards transforming Amaravati into a thriving urban center.

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