World Bank

World Bank President Jim Yong Kim announces his departure

Kim’s unexpected departure three years before his term was set to expire is likely to set off a fierce battle between the Trump administration and other countries who have complained about the influence the United States exerts over the World Bank.

World Bank to provide USD 310 mn loan for Jharkhand power system

The USD 310 million loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a final maturity of 25 years. 

India rejects World Bank report on Human Capital Index after being ranked 115th out of 157 nations

In its statement, the Finance Ministry said the HCI score for India does not reflect the key initiatives that are being taken for developing human capital in the country.

Orderly depreciation of rupee to increase competitiveness, says World Bank official amid growing currency woes

The remarks by Martin Rama, the Chief Economist for the South Asia region of the World Bank, came as the rupee hit an all-time low of 74.45 against the US dollar on Thursday. 

US Treasury chief warns China against currency devaluations

"Several factors are responsible for the recent fall in the Chinese Yuan, or renminbi (RMB), including economic issues in China", Mnuchin told Financial Times ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20.

Growth in India projected to accelerate to 7.3 per cent in 2018-19 fiscal: World Bank

Growth reached 6.7 per cent in fiscal year 2017/18, with a significant acceleration in recent months, it said.

World Bank will offer new initiative on Indus Treaty dispute: Pakistan

It said that Qureshi met Jim at the UN on Monday and complained to him about India's Kishan Ganga and Ratle projects asserting that they were violations of the 1960 treaty

Indo-Pak trade potential stands at USD 37 billion: World Bank

The World Bank report said that continued political tensions and lack of normal trade relations between the two nations have cast a shadow over cooperation efforts within South Asia.

India likely to receive financial aid from World Bank for transition to high-middle income country

The World Bank's initiative- the Country Partnership Framework (CPF) is aimed at supproting the nation's transition to a higher middle-income country by addressing some of its key development priorities such as resource efficient and inclusive growth, job creation and building its human capital.   

Not educating girls costs USD 15-30 trillion: World Bank

Less than two thirds of girls in low-income countries complete primary school and only one in three girls completes lower secondary school, the bank said.  

India surpasses France to become world's sixth largest economy

With GDP of USD 19,390,604 million, United States has topped the list, followed by China with USD 12,237,700 million.

India's economy to regain 'fastest growing' tag, GDP to grow at 7.3% in 2018-19, says World Bank

The report added that India has overcome the temporary disruptions caused by the implementation of the Goods and Services Tax (GST) by mid-2017, and manufacturing output and industrial production have continued to firm.

Kishanganga Project: World Bank backs India, asks Pakistan not to take the matter to ICA

World Bank President Jim Yong Kim in a fresh communication last week advised the Pakistan government to withdraw from its stand of taking the matter to the ICA, Pakistan-based Dawn reported. 

No agreement with Pakistan on resolving Indus Waters dispute: World Bank

Last week, Prime Minister Narendra Modi had inaugurated the 330 MW Kishanganga hydroelectric project in Jammu and Kashmir. Pakistan had protested the inauguration.

Indus Waters Treaty: Pakistan raises objections against J&K's Kishanganga hydroelectric project at World Bank

Pakistan which claims that recently inaugurated Kishanganga hydroelectric project in J&K will disrupt water supplies in Pakistan as it is built on a river flowing into Pakistan

World Bank denies Nawaz Sharif laundered $4.9 bn to India

"In the past day, there have been media reports citing the World Bank's Remittances and Migration Report of 2016. These media reports are incorrect," the World Bank said in a statement.

World Bank forecasts 7.3% growth for India this year

"Growth is expected to accelerate from 6.7 in 2017 to 7.3 per cent in 2018 and to subsequently stabilise supported by a sustained recovery in private investment and private consumption," the World Bank said.

Pakistan approaches World Bank over Kishanganga project: Report

India can do a Silicon Valley in 5 years: World Bank

World Bank India head Junaid Kamal Ahmad said what drives productivity is pertinent when it comes to innovation and is a very relevant question for India as it seeks to move up the ladder from low middle income to high income country.

Private investment decline in India worrisome: World Bank

The World Bank added that business environment had also improved in the country and the global liquidity had continued to remain positive.