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HUDCO to provide Rs 11,000 crore loan for construction of Amaravati's greenfield capital city.

Economy Business | Dated: 07 Nov 2024

New Delhi (Delhi)-based Housing & Urban Development Corporation Limited (HUDCO), a Navratna Central Public Sector Enterprise (CPSE), has agreed to lend Rs 11,000 crore to the Andhra Pradesh Capital Region Development Authority (AP CRDA) for the construction of Amaravati, a greenfield capital city in Andhra Pradesh (AP).

🎯 Key Highlights:

  • - Municipal Administration Minister P. Narayana met with Sanjay Kulshrestha, Chief Executive Officer (CEO) of HUDCO, and discussed the AP government's plans for Amaravati's development.

💡 Other Important Facts:

  • (i) A total of Rs 26,000 crore will be available for the construction of the capital city.
  • (ii) The World Bank (WB) and the Asian Development Bank (ADB) have agreed to lend Rs 15,000 crore for Amaravati.

📚 Test Your Knowledge:

How much loan has HUDCO recently agreed to provide for the development of Amaravati's greenfield capital city?

Correct Answer: 11,000 crore

🚀 Quick Recap:

About HUDCO

  • Chairman & MD : Sanjay Kulshrestha
  • Headquarters: New Delhi