World Bank

World Bank names financial crisis expert Carmen Reinhart as chief economist

May 21, 2020 8:20 am

World Bank Group President David Malpass said Reinhart's experience and insights would prove invaluable during the current unprecedented crisis triggered by the coronavirus pandemic.

World Bank says COVID-19 to push 60 mn into poverty; announces $160 bn assistance to 100 countries

May 20, 2020 12:54 pm

Of the 100 countries, home to 70 per cent of the world's population, 39 are in Sub-Saharan Africa. Nearly one-third of the total projects are in fragile and conflict-affected situations, such as Afghanistan, Chad, Haiti, and Niger.

World Bank approves $1 billion to support India's fight against COVID-19

May 15, 2020 11:58 am

With this, the total commitment from the World Bank towards emergency COVID-19 response in India has now reached to USD 2 billion.

Trump taps Indian-American lawyer as US representative to World Bank's lending arm IBRD

May 05, 2020 11:32 am

Pinto currently serves as Counsellor to the Under Secretary for International Affairs at the United States Department of the Treasury.

ADB approves $1.5 bn loan to India to help fund its fight against Covid-19

April 28, 2020 8:23 pm

ADP President Masatsugu Asakawa said that the bank is fully committed to supporting the Indian government in its response to this unprecedented challenge

Remittances to India likely to decline by 23% in 2020 due to COVID-19: World Bank

April 23, 2020 7:56 am

The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country, the bank said.

Slowest Since Economic Reforms: World Bank sees FY21 India growth at 1.5-2.8%

April 13, 2020 5:55 am

World Bank estimated India will grow 4.8 per cent to 5 per cent in the 2019-20 fiscal that ended on March 31. The COVID-19 outbreak came at a time when India’s economy was already slowing due to persistent financial sector weaknesses, the report said.

World Bank sees FY21 India growth at 1.5-2.8 pc, slowest since economic reforms three decades back

April 12, 2020 1:43 pm

India's economy is expected to grow 1.5 per cent to 2.8 per cent in the 2020-21 fiscal which started on April 1, the World Bank said in its South Asia Economic Focus report.

World Bank approves $1 billion emergency fund for India to tackle coronavirus

April 03, 2020 4:01 pm

India, the third-largest economy in Asia, will receive the largest share of the initial funding - $1 billion to support better screening for the virus, contact tracing and laboratory diagnostics; pay for personal protective equipment; and set up new isolation wards for those infected, the bank said.

World Bank offers funds for last stretch of Eastern Dedicated Freight Corridor

February 21, 2020 4:44 am

The EDFC has also got the green signal from Railways to allow private freight trains in its corridors, if companies come forward with such propositions.

Will Ex-PepsiCo chief Indra Nooyi be the World Bank's next CEO?

January 16, 2019 3:40 pm

Ex-PepsiCo CEO Indra Nooyi is reportedly among the frontrunners for the post of World Bank CEO. US President Donald Trump is considering multiple candidates to nominate for the post and Nooyi's name is reportedly being considered.

World Bank to aid Rajasthan's energy sector

February 22, 2016 2:47 pm

Jaipur, Feb 22 (ANI): The World Bank would be extending its cooperation to the Rajasthan government in the area of energy sector. World Bank Country Director Onno Ruhl spoke to Rajasthan Chief Minister Vasundhara Raje and her cabinet ministers to discuss these issues in detail. Ruhl congratulated Raje on the success of decreasing the rate of defecation in the open. He also stressed on the use of traditional forms of energy while maintaining that the focus was on alternative forms of energy. Chief Secretary C S Rajan, Principal Secretary (Energy) Sanjay Malhotra, State Power Distribution Companies Chairman Bhaskar A Sawant, Organising Secretary Akhil Arora and World Bank Special Project Manager Mandakini Pal were present on the occasion.

India has the same per capita income as Nigeria, Ghana and Kenya: Onno Ruhl

June 23, 2015 10:08 am