Global Banks Pledge Financial Support for Andhra Pradesh Metro Projects

International development banks are set to fund Andhra Pradesh's metro rail projects in Vishakapatnam and Vijayawada. Banks like ADB, AIIB, and KFW plan formal talks with government officials. Metro projects totaling Rs 12,000 crore aim for low-interest loans, ensuring swift execution of corridors in Vijayawada.

Devdiscourse News Desk | Amaravati | Updated: 14-05-2025 22:00 IST | Created: 14-05-2025 22:00 IST

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In a significant development for Andhra Pradesh's urban infrastructure, international development banks are gearing up to finance metro rail projects in Vishakapatnam and Vijayawada. The Indian government announced on Wednesday that these financial institutions, including KFW, AFD, ADB, NDB, AIIB, and JICA, have expressed interest in the projects.

According to a release from Municipal Minister P Narayana's office, formal discussions are expected soon between these banks and both the central and state governments. The Andhra Pradesh Metro Rail Corporation Limited is actively engaging with these institutions to secure low-interest loans to expedite project execution, as confirmed by Managing Director N P Ramakrishna Reddy after meetings with AIIB officials.

The ambitious plans involve developing a 26 km metro corridor from Pandit Nehru Bus Station to Gannavaram and a 12 km corridor from Bus Stand to Penamaluru in Vijayawada, with an estimated total project cost of Rs 12,000 crore. This strategic move is aimed at fostering better urban connectivity through enhanced metro services.

(With inputs from agencies.)