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Funding for Amaravati Project Withdrawn by Asian Infrastructure Investment Bank
July 26, 2019
Following the footsteps of the World Bank that withdrew funding for the Amaravati capital city project in Andhra Pradesh, the Asian Infrastructure Investment Bank (AIIB) has also cut off the funding as well.
An official under the Andhra Pradesh Capital Development Regional Authority said that AIIB was approached by the World Bank itself.
AIIB was to provide funding of 200 million USD and the World Bank of 300 million USD for the upcoming city Amaravati project.
Photo credit: Got Credit on Visual Hunt / CC BY
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