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World Bank cuts Indian GDP growth for fiscal to 7%

Washington, Jan 11  In its first projection on India post-demonetisation, the World Bank has lowered the country’s GDP growth estimate for this fiscal to 7 per cent, from its earlier estimate of 7.6 per cent made in June last year.“Growth...

World Bank cancels $100m loan to Pakistan

Islamabad, Dec 8  The World Bank has cancelled a $100 million loan approved for a natural gas efficiency project, citing a lack of interest on the part of a Pakistani gas distribution company.The project, which was to be carried out by Sui Southern Gas...
India again urges IMF, World Bank country quota reforms

India again urges IMF, World Bank country quota reforms

Washington/New Delhi, Oct 10  India has reiterated the strong case for realigning the country quota shares of the International Monetary Fund (IMF) in line with changed global economic realities, an official statement said on Sunday. “Union Finance...

World Bank reappoints President Jim Yong Kim to second term

Washington, Sep 28 Executive Directors of the World Bank on Tuesday agreed unanimously to reappoint Jim Yong Kim to a second five-year term as President of the multilateral development bank.“Executive Directors cited the achievements of Bank Group...

World Banks loans Egypt $1 bn as economic relief

Cairo, Sep 10  The World Bank on Friday transferred $1 billion to Egypt to boost the Arab country’s economic reform programme, a media report said.“This is the first batch of a $3 billion deal allocated for funding a government economic developmental...

World Bank gives $100 mn for Sri Lanka’s economic reforms

Colombo, Aug 1  The World Bank has approved a $100 million credit from the International Development Association (IDA) to support the Sri Lanka’s economic reforms programme, officials said on Monday.“Sri Lanka has been making steady progress...
President, World Bank, Jim Yong Kim calling on the Prime Minister, Narendra Modi, in New Delhi on June 30, 2016.

President, World Bank, Jim Yong Kim calling on the Prime Minister, Narendra Modi, in New Delhi on June 30, 2016.

President, World Bank, Jim Yong Kim calling on the Prime Minister, Narendra Modi, in New Delhi on June 30, 2016.

Bangladesh signs $130 mn World Bank loan for economic zones

Dhaka, June 20 The Bangladeshi government has signed a $130 million additional financing agreement with the World Bank to scale up support for the recently licensed and new economic zones to attract foreign and domestic investment as well as to create...

World Bank cuts 2016 global growth forecast to 2.4%

Washington, June 8  The World Bank has lowered its forecast for the global growth in 2016 to 2.4 per cent, saying that the world economy is facing stronger headwinds. In its Global Economic Prospects Report released on Tuesday, the Washington-based institution...

World Bank nod for $625 mn loan to Indian solar programme

New Delhi, May 17  The World Bank said on Monday it has approved a $625 million loan to support India’s grid connected rooftop solar programme to generate clean energy.“The project will finance the installation of at least 400 MW of grid...
World Bank should increase financial aid to renewable energy sector: Official

World Bank should increase financial aid to renewable energy sector: Official

New Delhi, April 15 Global financial institutions, like the World Bank, should provide a clear roadmap and increase their financial commitment from five percent to at least 15 percent in development of India’s renewable energy sector, an official...
India to grow at 7.7 percent in current fiscal: World Bank

India to grow at 7.7 percent in current fiscal: World Bank

Washington, April 13  India’s economic growth is expected to rise from 7.5 percent in 2015-16 to 7.7 percent in the current fiscal on the back of strong private investment, more infrastructure spending, better investment climate and improved corporate...

East Asia, Pacific growth will be hit by China’s: World Bank

Singapore, April 12  In a warning about volatile global markets that has implications also for India, the World Bank said on Monday that economic growth in the East Asia and Pacific region will ease, pulled down by weaker growth in China. In its East...

Jaitley heads to US Tuesday to attend IMF-WB meetings

New Delhi, April 12  Finance Minister Arun Jaitley will on Tuesday leave for a 10-day visit to the US to attend the Spring Meetings of the International Monetary Fund and World Bank, a UN session on the drugs problem, and an interaction with American...

World Bank unveils plan to fight climate change

Washington, April 8  The World Bank has announced its plan to help developing countries add 30 gigawatts (GW) of renewable energy to the world’s energy capacity and to mobilise $25 billion in private financing for clean energy by 2020.The Climate...

India’s Aadhaar increased access, reduced corruption: World Bank

Washington, Jan 14  Citing how India increased access and reduced corruption in public services by providing unique digital identification to one billion people in five years, the World Bank says digital technologies can promote inclusion, efficiency,...
World Bank cuts 2016 global growth forecast

World Bank cuts 2016 global growth forecast

Washington, Jan 7  The World Bank has cut the global growth forecast for 2016 to 2.9 percent, saying that weak growth among major emerging markets will weigh on the global scenario during the year.In its Global Economic Prospects Report issued on Wednesday,...

India bright spot amid weak global growth: World Bank

Washington, Jan 7  Weak growth among major emerging markets with only the South Asia region, led by India, projected to be a bright spot, will weigh on global growth in 2016, a new World Bank report said on Wednesday.But economic activity should still...
Strengthening IP policies will fuel India’s growth, development

Strengthening IP policies will fuel India’s growth, development

India’s modest improvement in the World Bank’s “Doing Business Index” this year, along with the Bank’s projection that the economy will continue to experience merely moderate growth, were not the boosts that Indian officials...
World Bank, IMF should reflect rise of developing economies: India

World Bank, IMF should reflect rise of developing economies: India

United Nations, Oct 28  India has called for reforming the World Bank and the International Monetary Fund (IMF) to reflect the rise of the developing and transitional economies and give them more say in governance.The share of the developing and economies...
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