World Bank says it 'dropped' Rs 2,000 crore loan proposal for Amaravati project
Amaravati (AP), Jul 19: The World Bank Friday said it 'dropped' the USD 300-million loan proposal for the Amaravati development project as the central government withdrew the financing request, triggering a blame game between the ruling YSRC and opposition TDP in Andhra Pradesh.
"The Government of India has withdrawn its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project," a World Bank official said in an email response.
The bank's board of executive directors has been informed that the proposed project is no longer under preparation following the government's decision, the official added.
"The World Bank is not in a position to comment on the nature of internal consultations conducted by the Government of India," he said, when asked for the reason behind the Centre's decision.
Andhra Pradesh Capital Region Development Authority Commissioner Lakshmi Narasimham told PTI they received "no communication" from the Department of Economic Affairs (DEA), under the Union Ministry of Finance, on why the Centre withdrew the loan request.
On Thursday, the World Bank posted on its official website that funding proposal for the Amaravati Sustainable Infrastructure and Institutional Development Project has been "dropped".
Sources said it had apparently taken into consideration widespread complaints lodged by farmers in the region on forcible take over of their fertile lands by the previous N Chandrababu Naidu government in the name of land pooling for capital development.
The Inspection Panel, constituted by the World Bank to look into the complains by farmers and non-governmental organisations in 2017, reportedly sought a deeper inspection of the ground situation as the alleged violation of environment and other laws were against the bank's policy for lending.
The World Bank recently wrote a letter to the state government in this regard.
The state, through the Department of Economic Affairs, sought more time to consider the World Bank request as the new government of Y S Jaganmohan Reddy had just set in.
The Centre reportedly did not want the international lender to conduct such a probe as it could "set an unwarranted precedent" and affect other major projects in the country.
The same was communicated to the state government, sources said.
Under these circumstances, the DEA withdrew the request for financing the Amaravati Sustainable Infrastructure and Institutional Development Project, government sources here said.
Chandrababu Naidu blamed the YSR Congress government for the World Bank's action.
"Was it not the YSRC that instigated farmers to lodge complaints with the World Bank? Is not the YSRC responsible for the World Bank going back (on the loan commitment)," he asked during an informal chat with reporters in the Assembly lobby.
The state would henceforth not get any funds for infrastructure projects, he said and alleged the ruling party did not want any development.
Government Chief Whip G Srikanth Reddy hit back, saying the World Bank rejected the loan only because of Naidu's atrocities.
"The Chandrababu Naidu government terrorised farmers, misused the provisions of land pooling and manipulated land records. Farmers complained to the World Bank about this," he pointed out.
The TDP leaders were, however, carrying out a false propaganda that the loan proposal was dropped because of YSRC's complaints, Reddy said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Iran attacks oil tanker near Dubai; Trump warns of strikes on energy sites if Hormuz remains shut
Tel Aviv/Washington: Iran attacked and set ablaze a fully loaded crude oil tanker off Dubai on Monday after US President Donald Trump warned that Washington would target Iran’s energy infrastructure if the Strait of Hormuz is not reopened.
According to a Reuters report, the Kuwait-flagged tanker Al-Salmi is owned by Kuwait Petroleum Corporation and was capable of carrying around 2 million barrels of crude. . It was struck in what authorities later described as a drone attack. The company said the incident occurred early Tuesday, causing a fire and hull damage. No injuries were reported and the fire was brought under control, Dubai authorities said .
Oil prices rose briefly following the attack and added to volatility in global energy markets. In the United States, retail gasoline prices crossed $4 per gallon for the first time in more than three years, according to data from GasBuddy, as crude prices moved above $101 per barrel.
Israel said it carried out missile strikes on military infrastructure in Tehran and on sites linked to Iran-backed Hezbollah in Beirut. Explosions were reported in parts of Tehran, with Iran’s Tasnim news agency saying power outages occurred in the eastern Pirouzi district following the blasts.
The Israel Defense Forces said four soldiers were killed in southern Lebanon. In recent days, three peacekeepers serving with the United Nations Interim Force in Lebanon were also killed in separate incidents in the same area.
Iran’s military spokesperson said Tehran’s latest wave of missile and drone strikes targeted US military positions at five bases in the region and sites in Israel. Thousands of troops from the US Army’s 82nd Airborne Division have begun arriving in the Middle East, according to US officials, expanding Washington’s military options even as diplomatic efforts continue.
White House Press Secretary Karoline Leavitt told Reuters Trump wants an agreement with Iranian leaders before a revised April 6 deadline for reopening the Strait of Hormuz, adding that talks were progressing, while public statements from Tehran differed from private communications.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said proposals received through intermediaries were “unrealistic” and maintained that Iran was focused on defending itself.
In a social media post, Trump said that if a deal is not reached soon and the strait is not reopened, the US would strike Iran’s electric generating plants, oil wells and Kharg Island. However, a report in The Wall Street Journal said Trump had told aides he may be willing to end the military campaign even if the strait remains largely closed and address reopening it later. The White House referred to earlier remarks by Secretary of State Marco Rubio that the strait would be opened “one way or another.”
The administration has also requested an additional $200 billion in funding for the conflict, a proposal that faces opposition in the US Congress.
