Amaravati's Green Transformation: ADB's Role in India's New Capital

The Asian Development Bank has approved a $788.8 million loan for Andhra Pradesh to develop Amaravati as a sustainable and smart capital city. This initiative will enhance economic growth, provide jobs, and improve living conditions, with a focus on sustainability, gender equality, and smart technologies.

The Asian Development Bank (ADB) has sanctioned a $788.8 million loan for Andhra Pradesh to spearhead the development of Amaravati into a green and smart capital city. This significant financial backing is poised to offer world-class infrastructure in the region.

In a statement, the loan will be extended in Japanese yen, totaling 121.97 billion yen. The 'Amaravati Inclusive and Sustainable Capital City Development Programme' aims to convert Amaravati into a regional growth hub, enhancing local economic prospects, creating job opportunities, and elevating residents' living conditions.

ADB Country Director for India, Mio Oka, emphasized that this venture, in collaboration with other multilateral development banks, will provide global expertise to solidify a sustainable and vibrant capital city. This initiative seeks to attract anchor investors, stimulate private investment, and generate jobs, particularly focusing on women and the youth, while also supporting urban governance, public-private partnerships, and climate resilience.

(With inputs from agencies.)