New Delhi, December 20 (SocialNews.XYZ) The World Bank’s Board of Directors has announced an 80 million Approved the Amaravati integrated urban development program of the dollar. Improve the lives of current and future residents.
“With the urban population expected to double to 950 million by 2050 and India looking to build sustainable and livable cities as growth hubs, Amaravati is an exciting opportunity to model this urban transformation. and opportunities,” said World Bank Country Director Auguste Tano Kouame. India.
“The World Bank brings global expertise to help design urban institutions and infrastructure that can create economic opportunities for populations, including women, young people, and vulnerable groups.”
Currently, around 100,000 people live in the Amaravati region and the population is expected to increase several times over the next decade. The government has created a master plan for a 217 square kilometer area that could accommodate 3.5 million people by 2050. The World Bank and the Asian Development Bank are supporting the first phase of urban development.
“The World Bank loan will also facilitate more than $600 million in private sector investment to make the city’s finances sustainable and provide economic opportunities for its residents,” the World Bank statement said.
According to the city’s socio-economic master plan, Amaravati has the potential to create 50,000 jobs in the next five years in sectors such as construction, agro-processing, clean manufacturing and services.
The city’s residents, especially women and youth, will benefit from World Bank support through job-focused skills training and other livelihood support to create new opportunities.
The program will directly train 17,000 people, 10,000 of whom are women, and improve their access to better jobs with higher wages, the statement said.
The World Bank leverages international knowledge in sustainable urban design to build urban backbone infrastructure, such as road networks, public transport, flood mitigation, and water and wastewater systems.
In addition to affordable housing for the city’s disadvantaged citizens, the program also supports the development of well-designed neighborhood-level community facilities and public spaces.
Introducing smart, green technology and design approaches to make cities more resilient to climate impacts, including through the use of low-carbon and nature-based solutions, and also help build disaster management capacity.
The $800 million loan requested by the Indian government to develop Amaravati as the economic hub and capital of Andhra Pradesh has a final maturity of 29 years, including a six-year grace period.
Source: IANS
About Gopi
Gopi Adusumilli is a programmer. He is the editor of SocialNews.XYZ and president of AGK Fire Inc.
He enjoys designing websites, developing mobile applications, and publishing news articles on current events from various trusted news sources.
When it comes to writing, I like to write about current world politics and Indian cinema. His future plans include developing SocialNews.XYZ into a news website that is free of bias and judgment.
Contact him at gopi@socialnews.xyz.
