The World Bank has allocated $340 million for the Amaravati Capital Phase-I development in Andhra Pradesh, India. A senior official indicated that an additional $150 million is likely to be released by the end of April 2024, bringing total funding from the World Bank and the Asian Development Bank (ADB) to $1.6 billion. This funding is part of the Amaravati Integrated Urban Development Programme (AIUDP), which links disbursements to specific milestones rather than a fixed schedule. The loan features a six-year grace period and a final maturity of 29 years, with repayments beginning on June 15, 2031. The primary goal is to enhance key institutions and build the necessary capacity to establish Amaravati as a climate-resilient city focused on growth and job creation. Infrastructure development is underway, including roads, housing, and essential services, with over 35% of flood management works already completed. The World Bank and ADB are committed to leveraging international best practices to ensure Amaravati's successful development.