World Bank gives $800 million loan for Amaravati project

Why in the NEWS?

• Recently the World Bank gave a loan of $800 million to the Andhra Pradesh government for the Amravati project.
• The Amravati project aims to develop Amravati as a smart and green city with world-class infrastructure.

Amravati

• After the division of Andhra Pradesh into Andhra Pradesh and Telangana in the year 2014, Hyderabad was given to Telangana.
• Andhra Pradesh decided to build a new capital named Amravati.

World Bank

• The World Bank is an international organization
• It provides financing and advice to developing countries to help them in their economic progress
• Established- Year 1944
• Headquarters – Washington DC (United States)
• President - Ajay Banga