India: Amaravati Sustainable Capital City Development Project (AIIB-000019)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 1, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Republic of India
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 715.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Nov 9, 2017

Disclosed by Bank May 10, 2017


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Project Description
The stated development objective of the Project is to build sustainable urban services and capacity of urban institutions for the development of Amaravati Capital City. According to AIIB documents, the Project will help to implement the Amaravati master-plan through pro-poor interventions and the implementation of priority infrastructure, so as to lay the foundations for the phased development of the new capital city. All infrastructure under the Project will be located on identified land parcels/stretches within the city. Accordingly, the Project’s design proposes three main components as follows: 1. Basic urban and pro-poor infrastructure - Construction of major road infrastructure (65 km road length); and - Upgrading of village infrastructure, including water, sewerage, village roads, connectivity to trunk infrastructure, etc. in the existing 29 villages within the capital area. 2. Green / Climate resilient urban investments - Flood mitigation for the ‘Kondaveeti Vagu’ water canal within the city area; and - Sewerage system and solid waste management system for Amaravati. 3. Technical assistance - Support for Project management; - Setting up key urban institutions, including the eventual city government of Amaravati; and - Introducing international good practice on city management. This project applies the World Bank’s Environmental and Social Safeguard Policies (Safeguard Policies). The two main implementing agencies will be the Andhra Pradesh Capital Region Development Authority (APCRDA) and the Amaravati Development Corporation (ADC), with APCRDA having overall responsibility for implementing the proposed Project.
Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
The total project cost is $715 USD million. The AIIB investment is estimated at $200 USD million.
Contact Information
Asian Infrastructure Investment Bank (AIIB): Mr. Thomas Walenta Project Team Leader / Investment Officer Phone: +86 10 8358 0068 Email: thomas.walenta@aiib.org World Bank: Mr. Raghu Kesavan Task Team Leader / Senior Infrastructure Specialist Phone: +91 11 4924 7652 Email: rkesavan@worldbank.org Andhra Pradesh Capital Region Development Authority (APCRDA): Mr. Dhananjaya Joshi Assistant Director - Strategy Phone: +91 86 6257 7475 Email: joshi.d@apcrda.org ACCOUNTABILITY MECHANISM OF AIIB In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.