The Central Government has released over Rs 4,200 crore to Andhra Pradesh for the Amaravati Capital Development Project, after receiving USD 205 million from the World Bank. A senior official confirmed the funds were part of a larger financial package for the capital’s first phase.The World Bank and Asian Development Bank have each pledged USD 800 million, totalling USD 1.6 billion or Rs 13,600 crore. The Centre will contribute the remaining Rs 1,400 crore, taking the total for phase one to Rs 15,000 crore.
According to World Bank documents, the project officially began on January 22. The first disbursement came last month. āOut of this total Rs 15,000 crore, there is a sharing between the World Bank, ADB and the Centre… So we have received a total of Rs 4,285 crore from the Centre on April 1,ā an official said.
He added that 25 per cent of the Centreās share is being given upfront as a āMobilisation Advanceā. Future payments will depend on the stateās progress and submission of bills or utilisation certificates.
āThe second tranche will take time. It will take at least six months, because the works have just started,ā the official said.