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  Recession a looming threat for global economy, warns World Bank

  Business | January 11, 2023 10:27 IST

  The World Bank report also noted that rising interest rates in developed economies like the United States and Europe will attract investment capital from poorer countries, thereby depriving them of crucial domestic investment.

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  Nirmala Sitharaman urges World Bank to avoid unidimensional view of subsidies

  Business | October 15, 2022 11:46 IST

  Nirmala Sitharaman on subsidies: As an illustration, she said that by providing free LPG connections under the Pradhan Mantri Ujjwala Yojna over the last six years, the Indian Government has ensured that access to clean cooking methods has achieved near saturation for women in India.

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  India gets new World Bank Country Director

  Business | August 01, 2022 13:00 IST

  Auguste-Tanoa-Kouame most recently served as the World Bank's Country Director for Turkey where he led the expansion of the bank's country programme and deepened its support to Ankara's climate agenda.

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  World Bank approves $245 million loan to modernise India's railway logistics infrastructure

  Business | June 23, 2022 19:34 IST

  Indian Railways is the fourth-largest rail network in the world, transporting 1.2 billion tonnes of freight in the fiscal year ending March 2020.

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  World Bank slashes India's GDP growth forecast to 7.5% for FY23

  Business | June 07, 2022 21:44 IST

  In April, the World Bank had trimmed the forecast from 8.7 per cent to 8 per cent and now it is projected at 7.5 per cent. The GDP growth compares to an 8.7 per cent expansion in the previous 2021-22 fiscal.

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  World Bank rules out new loan commitments to crisis-hit Sri Lanka

  World | May 25, 2022 16:58 IST

  Recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments, among other incorrect assertions, the Bank said in a statement.

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  'India headed for robust economic growth', says Finance Minister Sitharaman

  India | April 19, 2022 19:33 IST

  In her first public appearance before the Atlantic Council think-tank, the finance minister told a select group of Washington audience about how the people together with the Indian government successfully faced the challenge posed by COVID-19 and the subsequent lockdowns.

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  Russia Ukraine War: World Bank stops all projects in Russia, Belarus with 'immediate effect'

  World | March 03, 2022 7:14 IST

  Russian forces launched military operations in Ukraine on February 24, three days after Moscow recognized Ukraine's breakaway regions - Donetsk and Luhansk - as independent entities.

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  Developing countries face growing risks from financial fragility: World Bank

  World | February 16, 2022 8:34 IST

  High levels of non-performing loans and hidden debt impair access to credit, and "disproportionately" reduce access to finance for low-income households and small businesses, the report noted.

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  World Bank approves loan of $125 million to Bengal government

  India | January 22, 2022 21:02 IST

  In order to provide evidence of continued progress towards the PDO as well as achievement of intermediate outcomes, the state government and the Bank have agreed on a set of Disbursement-Linked Indicators (DLIs).

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  Global economic growth likely to derail with COVID, inflation, income inequality: World Bank

  Business | January 12, 2022 12:52 IST

  In emerging and developing economies, growth is expected to drop from 6.3 per cent in 2021 to 4.6 per cent in 2022 and 4.4 per cent in 2023, the World Bank report stated. 

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  India received USD87 billion in remittances in 2021

  Business | November 18, 2021 7:16 IST

  Remittances to low and middle income countries are projected to have grown a strong 7.3 per cent to reach USD 589 billion in 2021, the bank said.

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  World Bank chief highlights 'tragic reversal' in development amid pandemic

  World | October 14, 2021 7:25 IST

  Noting that inequality is worsening across country groups, Malpass said per capita income in advanced economies is growing nearly 5 percent in 2021, compared to only 0.5 percent in low-income countries.

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  UN, World Bank, IMF in need of urgent reforms: FM Nirmala Sitharaman

  Business | October 13, 2021 10:55 IST

  Finance Minister Nirmala Sitharaman has said that institutions such as United Nations, World Bank and International Monetary Fund will have to look at reforming themselves.

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  FM Nirmala Sitharaman embarks on week-long US visit to attend G-20, World Bank meetings

  Business | October 11, 2021 21:05 IST

  As part of official visit to the US, Nirmala Sitharaman will also address investors including large pension funds and private equity players and will invite them to participate in India's growth story.

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  World Bank considers giving loan to Bengal for social welfare schemes

  India | September 05, 2021 12:13 IST

  To avail of the World Bank loan the state government will have to engage an Independent Verification Agency (IVA) that will verify the Disbursement Linked Results (DLR).

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  Water deficit increased migration by 10%, says World Bank report

  India | August 30, 2021 7:02 IST

  The report highlights ways cities can tackle these challenges, such as reducing water demand, recycling wastewater, harvesting storm water, and redesigning urban areas.

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  Over USD 157 billion deployed in last 15 months to fight Covid pandemic: World Bank

  World | July 20, 2021 8:23 IST

  On health, economic and social fronts, the World Bank has spent more than $157 Billion to fight COVID pandemic.

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  World Bank expands COVID vaccine funding to $20 billion

  World | July 01, 2021 14:01 IST

  "In view of the surging demand for World Bank vaccine finance, I am pleased to announce today that the World Bank is expanding its financing available for Covid-19 vaccine financing to $20 billion over the next 18 months, adding $8 billion to the previously announced $12 billion," said World Bank Group President David Malpass, in the statement.

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  World Bank approves USD 800mn loans to Pakistan

  World | June 30, 2021 7:01 IST

  A World Bank (WB) release said that the USD 400 million Pakistan Program for Affordable and Clean Energy (PACE) focuses on measures to improve the financial viability of the power sector and support the country's transition to low-carbon energy.