The Andhra Pradesh government’s hopes of securing loan of Rs 37,778 crore from international funding agencies in the current financial year are dashed as the Centre is sitting on the state’s request for permission. With only six months left for the financial year to close, the state government is making all out efforts to secure the Centre’s approval to borrow at least Rs 25,000 crore from World Bank an other funding agencies.
The state government had submitted details of 13 projects to the Centre seeking its nod to avail of loan from the foreign banks. The projects include AP community-based water management project-II, AP irrigation improvement project, AP mitigation of drought, AP urban and rural water supply project, Mandal connectivity project, AP roads and bridges reconstruction project, AP health system strengthening project, state highway construction and expansion project, 24×7 power supply project and Amaravati capital city development project.
The state government proposed that it would bear part of the project cost and requested the Centre to give clearance to avail of loan. The state needs Rs 37,778.80 crore for the 13 projects.The state government agreed to share Rs 11,525 crore. External funding agencies will provide Rs 26,253.71 crore.
eenadu news paper 25-09-2016: http://epaper.eenadu.net