Andhra Pradesh would be getting a loan to the tune of $3 billion fromAsian Infrastructure Investment Bank (AIIB). The loan will be utilized for development projects among others in the state. According to an official release, the Chief Minister briefed the AIIB representatives about the welfare programmes being taken up by his government. The bank officials praised the initiatives taken up by the government for the Nadu-Nedu programme for the development of government schools and hospitals.
The AIIB representatives said that they were glad to hear about the welfare programmes for the people instead of privatisation after 20 years. They said the proposal of the present loan would be in addition to the loan already given to the state. The Chief Minister told the AIIB officials that the government intends to construct ports in Bhavanapadu in Srikakulam district, Machilipatnam in Krishna district and Ramayapatnam in Prakasam district.
The bank officials said that they are ready to finance the construction of one port and added that they are ready to finance the construction of roads, water grid, airports and irrigation projects.
