AP to take Rs 3200 cr loan from World Bank: Minister
Hyderabad, Oct 26: Impressed with the Rs 40,000 crore irrigation intitative taken up by the Andhra Pradesh government, the World Bank has, in principle, approved lending of Rs 3200 crore for the irrigation sector, Major Irrigation Minister P Lakshmaiah said.
Canals under the Nagarjunsagar Project would be modernised with Rs 2200 crore loan from the World Bank and it would also provide another Rs 1000 crore for minor irrigation projects, he told a press conference here yesterday.
The World Bank team led by its Managing Director Greame Wheeler appreciated Chief Minister Y S Rajasekhara Reddy for taking such a big step, he said.
Denying any new conditionalities for the loans, the minister charged the opposition parties with creating misapprehensions in the minds of the people.