The project is aimed at constructing a 48km four-lane, dual carriageway, high-speed and access-controlled motorway from Peshawar to Torkham border point with Afghanistan in a bid to promote economic development and ensure uplift of the areas adjoining the expressway and falling in Khyber-Pakhtunkhwa.
Three Republican Senators have tabled legislation in the United States Senate to prevent World bank from lending to China on projects that would be used against religious and ethnic minorities.
Malpass, who is on a three-day visit to India, earlier met Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and members of the Niti Aayog and discussed financial sector reforms with them as well
As many as 97 projects are being currently executed with loan assistance from the World Bank.
India made trading across borders easier by enabling post clearance audits, integrating trade stakeholders in a single electronic platform, upgrading port infrastructures, and enhancing the electronic submission of documents, the report said.
"Global value chains have played an important part in the growth, by enabling firms in developing countries to make significant gains in productivity, and by helping them transition from commodity exports to basic manufacturing,” World Bank Group Chief Economist Pinelopi Koujianou Goldberg said.
Minor formalities remain to be completed on this front before the first disbursement of the sanctioned amount is released, the Minister of State for Food Processing Industries said.
After an aerial survey to assess the damage caused by flooding in Sultanpur Lodhi of Kapurthala and Jalandhar areas, the chief minister announced a project to realign river streams and courses besides strengthening and widening river embankments.
Analysts say, in such a situation the Centre is also not likely to provide any assistance for Amaravati. It has so far provided only Rs 1,500 crore, which is a very small amount compared to the plans to build the capital at a whopping cost of Rs 1.5 lakh crore in three phases.
The World Bank, in a statement on its website, said India on July 15 withdrew its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project.
The World Bank has decided not to fund Amaravati Sustainable Capital City Development Project, the ambitious project of former Andhra Pradesh chief minister Chandrababu Naidu.
Balakrishna Menon, World Bank India Task Team Leader for the programme, said in the RKP they "will not only bring about additional financial resources but also help leverage other development partners and connect the state to lessons from global good practices."
In the selected 30 municipalities that currently do not have piped water systems, the project will install water infrastructures, including water treatment facility, water storage, transmission and distribution pipe network, house connections including meters, and others, said the Washington-based lender in a statement.
The appointment was announced by World Bank Group President David Malpass on Friday. Kant is currently a Managing Director of SBI where she previously also served as Chief Financial Officer.
The World Bank has approved USD 722 million loan for Pakistan that will largely be used for improving civic and public transport facilities in Karachi, according to a media report.
This is in keeping with the needs of a rapidly urbanizing state where about 31 million people reside in urban areas and urban population growth in nine of the 24 districts in Jharkhand is above India's overall urbanization pace of 2.7 per cent.
Pakistan on Tuesday signed three loan agreements worth a total of USD 918 million with the World Bank, Prime Minister Imran Khan's adviser on finance has said as the cash-strapped country tries to overcome a ballooning balance-of-payments crisis that threatens to cripple its economy.
The Paris-headquartered Financial Action Task Force has asked Pakistan to explain whether it has launched any investigation into the USD seven million allocated to maintain schools, madrasas, clinics and ambulances originally operated by terror groups like Lashkar-e-Taiba, Jaish-e-Mohammad, and LeT fronts Jamat-ud-Dawah and Falah-e-Insaniat Foundation.
Making his submissions at a meeting convened by the Union Finance Minister for pre-budget consultations with stakeholder groups from agriculture and rural development at New Delhi on Tuesday, NDDB Chairman Dilip Rath also pitched for reduction of GST on breeding outputs, besides a cut in import duty on import of bovine germplasm.
According to the report, remittances to low-and middle-income countries reached a record high of USD 529 billion in 2018, an increase of 9.6 per cent over the previous record high of USD 483 billion in 2017.
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