AIIB expresses its consent to provide financial aid to the AP government

Asian Infrastructure Investment Bank has expressed its consent to provide financial assistance of $3 billion to Andhra Pradesh government in addition to the previous loan. It said it had nothing to do with government policies and that the money could be used as per specified priorities. AIIB delegates met with the Chief Minister at the Secretariat.

CM told the Asian Infrastructure Investment Bank representatives that the state is an agrarian state and 62 per cent of people are dependent on the agriculture sector. "This is why irrigation projects are significant to us," CM added. The Asian Infrastructure Investment Bank, which is already supporting various projects in the state and assured the Chief Minister that they would fund more for the projects.

CM also explained to the bank representatives about the activities initiated by state government be it the introduction of English medium education in schools, changes in minimum facilities and mid-day meals, etc. He explained to them that they had raised money for the Amma Vodi scheme to provide financial assistance to the mothers who send their wards to school, which enables to eradicate illiteracy.

The chief minister has also said that they are in the process of constructing new ports to which the bank officials have expressed their consent to assist in the construction of the water grid, irrigation, roads and airports.