So far, the World Bank has released USD 207 million, of which the state has used about half, said S Suresh Kumar, Principal Secretary of Municipal Administration and Urban Development. He said the next release would come once the state uses 75% of the first tranche.

Officials from the World Bank and ADB inspect Amaravati every month, verify records, and review ongoing works with the Capital Region Development Authority (CRDA). They recently expressed satisfaction with the project’s progress.

The latest World Bank report described the overall progress as “satisfactory.” It confirmed the start of key construction works and the creation of an Environmental and Social Management Unit in Amaravati.

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Trifecta Capital, which has backed successful startups like Captain Fresh and Battery Smart, will offer venture debt to select startups at the Series A stage and beyond. This funding follows a growing demand for venture debt in India’s startup ecosystem, helping companies access working capital and capital expenditure without any equity dilution.

Farid Fezoua, IFC Global Director for Disruptive Technologies, stated, “Providing flexible, cost-effective funding options like venture debt is essential for India’s economic growth and job creation.” This is not IFC’s first move in supporting India’s growth, as the agency previously invested $137 million to boost the country’s electric bus ecosystem.

Rahul Khanna, Managing Partner at Trifecta Capital, emphasized that the partnership with IFC will help the firm back transformative companies with flexible, founder-friendly capital, focusing on climate and sustainability-led innovation.

In January, Trifecta made the first close of its fourth fund, targeting a size of Rs 2,000 crore.

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