World Bank releases $340 mn for Amaravati development, additional $150 mn likely in April

The World Bank has released USD 340 million so far for the Amaravati Capital Phase-I project in Andhra Pradesh, a senior official said. The Asian Development Bank (ADB) is co-financing the project, which together with the World Bank has committed a total of USD 1.6 billion for the development of Amaravati’s first phase.