The State government is in touch with the Union Ministry of Finance and Reserve Bank of India for certain relaxations to pump foreign investments into the State while making efforts for Special Category Status.
This was stated by Principal Secretary (Energy, Infrastructure & Investments and CRDA) Ajay Jain in an interactive session with a Malaysian trade delegation led by Minister of International Trade and Industry Mustapa Mohamed here on Tuesday.
During the question-and-answer session, a trade representative said Malaysian businessmen could bring equity and wanted to know what the A.P Government was doing to get the support of banks for prospective investors.
Support from banks
“We can bring equity to some extent but a lot of support is needed from banks. I would like to know the efforts being made in this regard by A.P,” the visiting dignitary said.
Responding to his observation, Mr. Jain said the State had already reached an understanding with World Bank, Japan International Cooperation Agency and Asian Development Bank among various multi-lateral agencies for funding of infrastructure projects in the capital region and construction of the capital city Amaravati.
“We have also approached the New Development Bank (formerly BRICS Development Bank jointly established by Brazil, Russia, India, China and South Africa) for financial assistance and are looking forward to help from other friendly states/countries. Other issues concerning banks are being resolved,” Mr. Jain asserted.
