APCRDA & HUDCO Sign Rs 11,000 Crore Loan Agreement for Amaravati Development

Current Context: The Andhra Pradesh Capital Region Development Authority (APCRDA) and the Housing and Urban Development Corporation (HUDCO) signed a ₹11,000 crore loan agreement on March 16, 2025.

• Purpose: To accelerate the development of Amaravati, the greenfield capital city of Andhra Pradesh.
• Location of Signing: Residence of CM N. Chandrababu Naidu, Undavalli, Guntur district.
• Funding for First Phase: The estimated cost is ₹26,000 crore.
• Additional Support: Financial commitments also come from the World Bank and Asian Development Bank.
• Goal: To enhance infrastructure and promote planned urban development in Amaravati.

Question:

Q.1 What is the primary objective of the ₹11,000 crore loan agreement between The Andhra Pradesh Capital Region Development Authority (APCRDA) and the Housing and Urban Development Corporation (HUDCO)?
a) To promote tourism in Andhra Pradesh
b)To fund agricultural development projects
c) To construct new highways in the state
d) To accelerate the development of Amaravati

Answer: d) The loan aims to enhance infrastructure and promote planned urban development in Amaravati, the greenfield capital of Andhra Pradesh.