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  • European officials urge World Bank to exclude fossil-fuel investments Feb 27, 2021 01:29 PM IST

    European officials urge World Bank to exclude fossil-fuel investments

    World Bank executive directors welcomed moves by the Bank to ensure its lending supports efforts to reduce carbon emissions.

  • Pakistan unlikely to exit grey list' as FATF meets to decide its fate: Report Feb 21, 2021 09:25 PM IST

    Pakistan unlikely to exit grey list' as FATF meets to decide its fate: Report

    The virtual FATF plenary will be held in Paris from February 22 to 25 to consider cases of various countries on the grey list, including Pakistan, and a decision will be made at the conclusion of the meetings

  • World Bank, IMF to consider climate change in debt reduction talks Feb 20, 2021 08:08 AM IST

    World Bank, IMF to consider climate change in debt reduction talks

    Three countries - Ethiopia, Chad and Zambia - have already initiated negotiations with creditors under a new Common Framework supported by the Group of 20 major economies, a process that may lead to debt reductions in some cases.

  • Ngozi Okonjo-Iweala: Nigeria's hope to head the WTO Feb 06, 2021 02:45 PM IST

    Ngozi Okonjo-Iweala: Nigeria's hope to head the WTO

    The 66-year-old is looking to make more history as she bids to become the first African and woman to head the World Trade Organization (WTO).

  • 3 new dedicated freight corridors to see Rs 2.17 lakh crore investment Feb 02, 2021 12:52 PM IST

    3 new dedicated freight corridors to see Rs 2.17 lakh crore investment

    The asset monetisation plan includes leasing out the tracks to private players to operate their trains

  • World Bank says coronavirus pandemic will push 119-124 million into poverty Jan 24, 2021 11:04 AM IST

    World Bank says coronavirus pandemic will push 119-124 million into poverty

    This will be the first significant rise in poverty in 20 years, the World Bank has said.

  • Budget 2021 | Why the World Bank doesn’t believe the Indian recovery will be V-shaped Jan 07, 2021 10:38 AM IST

    Budget 2021 | Why the World Bank doesn’t believe the Indian recovery will be V-shaped

    The World Bank believes the pandemic has lowered potential growth — the output that can be sustained at full employment and capacity utilization — in the Indian economy by eroding growth in human capital and investment

  • World Bank keeps India's FY20-21 contraction forecast unchanged Jan 06, 2021 10:20 AM IST

    World Bank keeps India's FY20-21 contraction forecast unchanged

    The World Bank has forecast India's real gross domestic product growth to be 5.4 percent for fiscal year 2021-22, primarily due to the low base effect of the current year. However, unlike most other agencies, the multilateral organization has not upgraded its forecast for 2020-21, and still projects India's economy to contract by 9.6 percent this year.

  • Global economy expected to expand by 4% in 2021: World Bank Jan 05, 2021 09:57 PM IST

    Global economy expected to expand by 4% in 2021: World Bank

    Although the global economy is growing again after a 4.3 per cent contraction in 2020, the pandemic has caused a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period.

  • Explained | How Development Projects Worth $800 Mn Approved By The World Bank Will Benefit India Dec 19, 2020 11:28 AM IST

    Explained | How Development Projects Worth $800 Mn Approved By The World Bank Will Benefit India

  • World Bank corrects 'ease of doing business' rankings, China slips 7 places to 85 Dec 18, 2020 08:59 PM IST

    World Bank corrects 'ease of doing business' rankings, China slips 7 places to 85

    The World Bank said irregularities were reported regarding changes to the data in the Doing Business 2018 and Doing Business 2020 reports, published in October 2017 and 2019, respectively.

  • World Bank approves 4 India projects worth $800 million to support development initiatives Dec 16, 2020 10:30 PM IST

    World Bank approves 4 India projects worth $800 million to support development initiatives

    World Bank India Country Director Junaid Ahmad said the four projects will support India's efforts to build back better by creating a sustainable and resilient economy.

  • DIPAM signs pact with World Bank for advising on CPSE asset monetization Nov 16, 2020 07:52 PM IST

    DIPAM signs pact with World Bank for advising on CPSE asset monetization

    The government has set a target of raising Rs 2.10 lakh crore from disinvestment in the current financial year. Of this, Rs 1.20 lakh crore is to be raised through CPSE disinvestment.

  • How the wealthy world has failed poor countries during the pandemic Nov 02, 2020 04:32 PM IST

    How the wealthy world has failed poor countries during the pandemic

    Despite pledges for debt relief and expanded programmes, the World Bank and International Monetary Fund have delivered meagre aid, say economists

  • What the shift on austerity means for markets Oct 27, 2020 08:35 AM IST

    What the shift on austerity means for markets

    The world is now set to experience another surge in debt and deficits from levels that only nine months ago would have been deemed unthinkable by most economists and financial market participants

  • COVID-19 has resulted in largest global economic contraction in 80 years, say World Bank and IMF Oct 16, 2020 10:07 PM IST

    COVID-19 has resulted in largest global economic contraction in 80 years, say World Bank and IMF

    The monetary institutions warned that the humanitarian crisis can further exacerbate fragility, conflict, and violence as well as intensify risks, including in small island states.

  • Coronavirus Impact | World experiencing deepest recessions since Great Depression, says World Bank President David Malpass Oct 15, 2020 01:27 PM IST

    Coronavirus Impact | World experiencing deepest recessions since Great Depression, says World Bank President David Malpass

    The World Bank is encouraging countries to spend in the first instance on health programmes, on social programmes, and on education, World Bank President David Malpass said, adding that a critical step for countries is to reopen schools

  • World Bank approves $12 billion for COVID-19 vaccines Oct 14, 2020 09:59 AM IST

    World Bank approves $12 billion for COVID-19 vaccines

    The money is part of an overall WB Group (WBG) package of up to $160 billion through June 2021 designed to help developing countries battle the novel coronavirus pandemic

  • COVID-19 school closure may cost over $400 billion to India, cause learning losses: World Bank Oct 12, 2020 02:51 PM IST

    COVID-19 school closure may cost over $400 billion to India, cause learning losses: World Bank

    The report also noted that the pandemic may cause up to 5.5 million students to drop out from the education system and cause substantial learning losses, which will have a lifetime impact on the productivity of a generation of students.

  • IMF, World Bank annual meetings start on October 12: Here's what you need to know Oct 11, 2020 02:43 PM IST

    IMF, World Bank annual meetings start on October 12: Here's what you need to know

    The International Monetary Fund and the World Bank meetings, which are usually held in Washington, will this year be held primarily in a virtual format on October 12-18.

  • Coronavirus impact: South Asia faces worst ever recession, tipping millions into poverty: World Bank Oct 08, 2020 01:55 PM IST

    Coronavirus impact: South Asia faces worst ever recession, tipping millions into poverty: World Bank

    The multi-lateral lender forecast a record economic contraction of 7.7 percent for South Asia this year, and said workers in the informal sector were being hit hardest, and private consumption was unlikely to recover quickly from the blow.

  • World Bank downgrades India’s FY21 GDP forecast, estimates 9.6% contraction Oct 08, 2020 12:51 PM IST

    World Bank downgrades India’s FY21 GDP forecast, estimates 9.6% contraction

    The World Bank added that it expected growth to return to 5.4 percent in FY22, assuming COVID-19-related restrictions are completely lifted by 2022.

  • By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19: World Bank Oct 07, 2020 12:29 PM IST

    By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19: World Bank

    In order to reverse this serious setback to development progress and poverty reduction, countries will need to prepare for a different economy post-COVID, by allowing capital, labour, skills and innovation to move into new businesses and sectors, World Bank Group President David Malpass said.

  • COVID-19 impact | Child mortality rate in developing countries may shoot up to 45%: World Bank Oct 05, 2020 11:07 PM IST

    COVID-19 impact | Child mortality rate in developing countries may shoot up to 45%: World Bank

    World Bank President David Malpass said developing countries might face difficulties in administering education amid the COVID-19 pandemic, which may further lead to significant issues for them in the future

  • World Bank seeks board approval for $12 billion coronavirus vaccine financing plan Sep 30, 2020 07:56 AM IST

    World Bank seeks board approval for $12 billion coronavirus vaccine financing plan

    Malpass told Reuters in an exclusive interview that the initiative, part of $160 billion in coronavirus aid financing pledged by the multilateral lender, is aimed at helping countries procure and distribute vaccines early to healthcare and other essential workers and expand global production. He said the board was expected to consider the plan in early October.

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