HUDCO sanctions Rs. 11,000 Crore Loan for Amaravati's Greenfield City Construction

A huge loan of Rs. 11,000 crore has been given by the Housing and Urban Development Corporation (HUDCO) to the Capital Region Development Authority (CRDA) for the construction of Amaravati, the Andhra Pradesh state capital, according to an official announcement.

HUDCO CMD Sanjay Kul Shreshtha, Minister for Municipal Administration and Urban Development (MAUD), P Narayana, and other officials were present when Chief Minister Nara Chandrababu Naidu signed this deal at his home in Undavalli. In accordance with the deal, HUDCO will lend Rs. 11,000 crore to build the state capital.

The loan is a component of the Rs. 26,000 crore required for Amaravati Phase 1 construction. Since the World Bank and Asian Development Bank had already pledged Rs. 15,000 crore, HUDCO has assisted in filling the finance gap with this loan.

Chief Minister said while attending the Swarna Andhra – Swachh Andhra program in West Godavari district’s Tanuku, “Every individual should be a part of achieving the goal of a Clean Andhra. Everyone must contribute to protecting the environment. It is our collective responsibility to keep our homes, surroundings, schools, colleges, government offices, public places, and places of worship clean”.

“On March 15, 1978, exactly 45 years ago, I stepped into the Assembly for the first time. I have been honored in an extraordinary way that no one else in this state has experienced. My only goal is to serve the Telugu people. We are bringing reforms in governance. The people have blessed the alliance of the TDP, BJP, and Jana Sena. With the cooperation of the central government, the state has embarked on a path of development. We have introduced a clear policy under ‘Swarna Andhra 2047’,” he added.