World Bank clears air on its funding

The World Bank had cleared all doubts over its withdrawal from funding Amaravati project. The opposition Telugu Desam Party had pointed an accusing finger at the ruling YSR Congress for the World Bank’s back out. Though an institution like World Bank is not expected to take a decision on any of its projects in just 30 days, the TDP had conveniently shifted the blame on the ruling YSR Congress and chief minister Jaganmohan Reddy.

The TDP also tried to communicate to the people that Jaganmohan Reddy is a failure and destroying whatever Chandrababu Naidu had built so far in the last five years. The party felt that the World Bank’s back out is an issue for the party to go to the people and turn them against the ruling party. But it did not work well for the TDP as it aspired. The World Bank had come out with an official statement on its back out and its promise to fund the State government-sponsored projects in future.

The World Bank gave a reason for its back out from the Amaravati project. It said that the Central government had withdrawn the concern to stand guarantee to the project for its own reasons and there is nothing that the ruling party does in this. In fact, agencies like World Bank extend loans to the States not on its own but on the recommendations of the Central government. This is where the TDP had failed to understand and had sought to blame the YSR Congress.

The Amaravati project had several flaws – at least several complaints from the stake holders – for which the Central government withdrew its support forcing the World Bank to drop the project. There were complaints from the people of the 29 villages on the project. There are complaints of violation of laws and there were complaints of corruption in the tenders, which have ultimately led to the Central government’s decision and the World Bank’s back out.

Ram Tatavarthi
About Ram Tatavarthi 504 Articles
Ram has been continuing in the journalism for the past 25 years. He started his career from Samacharam and worked for various print and electronic media houses like Eenadu, Andhra Bhoomi, the evening daily Sandhya, in cable, Andhra Prabha, Citi Cable, TV 9, CCC channel etc.. By having extensive experience in journalism and also by always keeping up to date with the latest technology he is now working as a freelance journalist.

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