The World Bank, which is providing a loan to Amaravati, will continuously monitor it. The World Bank has mentioned this issue in the credit report as part of the agreements. Each work will be monitored by its own consultancies. For this, information related to tenders, the companies involved, their details, and the details of the work being done will have to be provided in the form of reports from time to time.
Funds from time to time will be released only after the consultancies indicate that the work specified in the agreement has been completed. For this, many points have been mentioned in Section 4. When and what will be done in the Disbursement Linked Results (DLR-Disbursement Fund Results). What needs to be done has been mentioned.
At the time of accepting the loan for Amaravati, the US dollar was quoted at Rs. 84.09 paise. It is clearly stated in the first page of the terms that the recipients should not disclose the loan agreement anywhere, nor should they share its content without the permission of the World Bank.
They are required to submit reports from time to time stating that they have implemented the terms and conditions of the loan they are providing. However, they will have to submit a comprehensive report on the utilization of the funds drawn till then. If they are satisfied with this, the funds can be drawn in advance later.
This issue is mentioned in Section 4 Part B1. If the implementation of the terms and conditions is not satisfactory after the funds are drawn, the advance will have to be returned within the closing time given by the bank (Section 4 Part B2). It is also stated in Section 4 Part B2 that if the results are not achieved within the prescribed date, the bank will give a notice to the borrower and the remaining amount will be reduced as per the formula mentioned in Schedule 4 without withdrawal.
While Amaravati will be implemented in two phases, Rs. 30,644 crore will be spent in the first phase. According to the rules, it is clearly stated that legal permissions have to be taken for the implementation of urban development facilities and construction in Amaravati. In the first phase of development, it is stated that facilities, fresh water supply, and development of the Amaravati Government Complex from Zone 1 to Zone 7 to Zone 10 will be done between 2025-2029.
The World Bank’s Program for Results (PforR) states that results should be achieved in the buildings within the Amaravati Government Complex, Zones 1, 3, 5B, 5D, and 6. The report clearly states that both the World Bank and ADB will release funds in coordination and inspections will be conducted by a single organization.