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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.