World Bank pulls funding for new state capital in India after Delhi drops support

The World Bank said on Friday it had withdrawn $300 million of funding for a new capital in the south Indian state of Andhra Pradesh after the central government dropped support for the project. The Beijing-backed Asian Infrastructure Investment Bank (AIIB), that was due to finance $200 million of the project, then said it was reviewing its involvement. The construction of the city, known as Amaravati, is the brainchild of the state's former chief minister, N. Chandrababu Naidu, who lost power in elections in May.

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