The Asian Infrastructure Investment Bank (AIIB) has agreed to give a loan of USD 3 billion to the government of Andhra Pradesh for development-related projects. The announcement was made public after a meeting between the authorities, including Chief Minister Jagan Mohan Reddy on Thursday.
ముఖ్యమంత్రి శ్రీ వైయస్.జగన్తో ఏఐఐబీ ప్రతినిధుల భేటీ.— CMO Andhra Pradesh (@AndhraPradeshCM) February 6, 2020
ఏపీకి కొత్తగా 3 బిలియన్ డాలర్ల రుణం ఇవ్వడానికి సిద్ధం: ఏఐఐబీ
నిర్ణయించుకున్న ప్రాధాన్యతలు ప్రకారం ఖర్చుచేసుకోవచ్చని వెల్లడి. పోర్టులు, ఎయిర్పోర్టులు, ఇరిగేషన్, రోడ్లు, వాటర్గ్రిడ్ ప్రాజెక్టులకు ఆర్థిక సహాయం. pic.twitter.com/tQfX2mJQIV
A release by the Andhra Pradesh government read, "The loan would be utilised for the construction of ports, airports, roads, water grid projects and for irrigation projects. The Chief Minister detailed the AIIB representatives about the welfare programmes being taken up by the government as enunciated in the Navaratnas. The bank officials praised the initiatives taken by the government for taking up Nadu-Nedu programme for the development of government schools and hospitals."
CM Reddy reportedly told the AIIB representatives that the funds were being prioritised for irrigation projects since Andhra Pradesh was primarily an agricultural state. The Chief Minister also mentioned that the state government has decided to construct ports in Bhavanapadu in Srikakulam district, Machilipatnam in Krishna district and Ramayapatnam in Prakasam district.
Asian Infrastructure Investment Bank delegates met Hon'ble Chief Minister @ysjagan at the secretariat, today. @AIIB_Official has agreed to sanction a loan of $3 Billion to Andhra Pradesh Government for taking up development projects. pic.twitter.com/6I4zcCwx9r— CMO Andhra Pradesh (@AndhraPradeshCM) February 6, 2020
CM Reddy also released a State focus paper for the year 2020-21 in Vijaywada. The focus paper was prepared by the National Bank for Agriculture and Rural Development (NABARD).
"Andhra Pradesh is primarily an agri-based economy as 62% of the people are dependent on agriculture. The State has vast opportunities in agriculture and allied sectors. Andhra Pradesh stands first in aqua and fisheries sectors. The economic slowdown, which the nation is experiencing, is likely to impact the primary sector, which is agriculture. At this juncture, it is necessary to focus on sectors that generate employment," he said at the State credit seminar.
(Image credits: twitter.com/AndhraPradeshCM)