Andhra Pradesh

TDP wants inquiry into AIIB funds disbursed to A.P.

The Telugu Desam Party (TDP) on Monday wrote a letter to the Asian Infrastructure Investment Bank (AIIB), urging it to conduct an inquiry into the expenditure incurred with regard to teh funds disbursed till date by it to Andhra Pradesh.

TDP spokesperson K. Pattabhi Ram, in the letter, said that the AIIB had approved USD 455 million to improve road connectivity across the State. Another USD 211 million was to be financed by the State,” he said.

The project was approved in September 2018 and agreement was signed on February 25, 2019 which will lapse in October 2023. The project had fixed targets with January 1, 2018 as the baseline. “However, a cursory look at the project accomplishments clearly highlights that the project objectives are not met as per the targets. The plight of motorists says it all about the bad condition of the roads in the State,” said Mr. Pattabhi Ram.

The AIIB has released USD 71.138 millions for the development of road in the State. “It appears that the government has been diverting the funds for the benefit of the ruling party, while the contractors that constructed the roads under the AIIB- funded project had to move the High Court of Andhra Pradesh for payment of bills. The project is failing to meet the targets owing to the delayed payment of bills. It is pertinent to ensure that the roads are developed as envisaged in the project number 000063 of the AIIB. Hence, it is requested to ensure that the AIIB funds are used only for the road development in Andhra Pradesh,” he said.

Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Oct 21, 2021 2:38:26 AM |

Next Story