Current Affairs - Finance - Discussion

The Asian Development Bank (ADB), in collaboration with the World Bank, has committed to providing $1.6 billion for the development of Amaravati’s Phase-I. This funding will begin in January 2025 and will support various aspects of urban planning, governance, and infrastructure in Andhra Pradesh's capital city project. Out of the total project cost of Rs 15,000 crore, Rs 1,400 crore will be contributed by the Indian government, ensuring a significant push towards modernizing and developing the new capital of Andhra Pradesh.