Following in the footsteps of the World Bank, China led development bank also pulls out of Amaravati Project
- by Sourav
- Jul 24, 2019 11:17
This project “Amaravati” is the brainchild of Andhra Pradesh ex-chief Minister N. Chandrababu who recently lost its influence in May elections.
The Beijing based Asian Infrastructure Bank has backed out to fund a new capital of the Indian state Andhra Pradesh following the World Banks refusal to with any deal in this project. The Asian Infrastructure Investment Bank (AIIB) is no longer considers the Amaravati project a sustainable Infrastructure and Institutional Development Project for funding.