Page 3 - World Bank

WB, Telangana govt discuss partnerships in skill development, Net Zero

World Bank backing would give a massive boost to several of the key visions of Chief Minister Revanth Reddy

Growth challenges

Global prospects have worsened in recent years

World Bank looking to issue first 'drought' bond in next 12-18 months

The drought bond would be a new instrument in the multilateral lender's suite of so-called cat bonds - fixed income instruments that pay out to countries in the event of a natural disaster

Amid Ukraine war, Russia upgraded to 'high-income' nation; here's why

Thriving in a war economy: Amid heavy sanctions, Russia's economy defied expectations, achieving a high-income status for the first time since 2014, according to the World Bank

Priority sector tag needed for women-led rural enterprises: World Bank

Recommends institutional reforms to support growth and contribution of women's entrepreneurship

World Bank approves $1.5 bn loan to support India's green hydrogen push

This is the second round of funding from the World Bank towards India's green energy push

Sidbi bats for sustainable development of MSMEs; pilots several projects

Small Industries Development Bank of India (SIDBI) has been making efforts for sustainable development of the MSME sector, which plays a key role in the economy, a senior official of the financial institution said on Thursday. Deputy Managing Director of SIDBI, Sudatta Mandal, said it has taken proactive steps to make the MSME eco-system green with several financial and non-financial engagements. Speaking at an interactive session on the occasion of International MSME Day organised by the MCCI, Mandal said SIDBI has launched various lending products on competitive terms to facilitate energy-efficient transition of the MSMEs. "In the green space, SIDBI has piloted several projects and validated models such as Partial Risk Sharing Facility for energy efficiency programme supported by the World Bank with a corpus of USD 37 million, he said. Mandal said SIDBI has made continuous efforts for holistic development of the MSME sector, which now contributes to 45 per cent of India's exports

Indian diaspora breaks record with $107 billion remittance surge in FY24

According to a survey by the Reserve Bank of India on post-Covid-19 remittances, the United States emerges as the primary contributor, constituting 23% of the total amount

Mindspace becomes first Indian REIT to issue sustainability-linked bonds

Mindspace Business Parks REIT raises Rs 650 crore from the World Bank's International Finance Corporation

Pandemic exposure lowered wage aspirations of rural women: World Bank

The research was conducted in Haryana on a sample of 3,180 female vocational trainees between June and August 2022

World Bank, animal husbandry dept conduct avian influenza crisis drill

The Ministry of Animal Husbandry, Fisheries and Dairying and the World Bank conducted a two-day simulation exercise this week in Madhya Pradesh to enhance the preparedness for potential avian influenza or Bird Flu, amid outbreak of such cases in parts of the country and globally. The exercise on June 19-20 in Bhopal, Madhya Pradesh, brought together 40 participants from various sectors to practice outbreak detection, rapid response strategies and inter-agency coordination for containing the spread of avian flu. "Such initiatives are vital in building resilient health systems as the world contends with an increasing number of zoonotic diseases," the Department of Animal Husbandry and Dairying (DAHD) said in a statement. The drill comes as India sees avian flu outbreaks in Kerala and a rise in global spillover cases to non-poultry species like cattle. Inaugurated by DAHD's Animal Husbandry Commissioner Abhijit Mitra, the programme involved interactive scenarios mimicking real outbrea

Maldives faces high debt distress risk, financing challenges: World Bank

Highlighting that the Maldives has been spending beyond its means for decades, the World Bank has warned that the archipelagic nation faces high debt distress risk and financing challenges, making it vulnerable to shocks. World Bank Country Director for the Maldives, Nepal, and Sri Lanka Faris H Hadad-Zervos also said that the island nation's annual debt servicing needs are likely to be USD 512 million for the current and following years, and another USD 1.07 billion in 2026. Hadad-Zervos's statement, posted on his official X account, comes days after the Ministry of Finance here said that the public and publicly guaranteed debt is almost 110 per cent of Maldives' GDP. The heavily tourism-dependent nation had suffered badly due to the COVID-19 pandemic-induced lockdowns and started recovering only in 2023. According to the Ministry of Finance's Quarterly Debt Bulletin for Quarter 1, 2024 published on June 1, the public and publicly guaranteed (PPG) debt has risen to USD 8.2 billion

India remains world's fastest growing major economy globally: World Bank

The global economic report of the World Bank noted that in the South Asian region, India is set to sustain its robust growth momentum although it will moderate in coming years

India to remain fastest-growing among largest economies, says World Bank

For FY26 and FY27, the World Bank projected India's economy to grow at 6.7 per cent and 6.8 per cent respectively

World Bank approves $1 bn loan for China-backed hydropower project in Pak

The World Bank has approved an additional loan of USD 1 billion for cash-strapped Pakistan to support the China-backed Dasu hydropower project in the restive Khyber Pakhtunkhwa province. According to a report in the Express Tribune newspaper, this constitutes the third major financing by the global lender for the project, which earlier secured USD 588.4 million for preparatory works and an additional USD 700 million for constructing the transmission line to transmit electricity from the project. The Dasu hydropower project, situated approximately 300 km north of Islamabad in the unruly Khyber Pakhtunkhwa province, is being developed by China Gezhouba with funding from the global lender and has endured at least two deadly terrorist attacks targeting Chinese nationals involved in its construction. The World Bank in a press release on Monday said it has approved USD 1 billion additional financing for the DASU Hydropower Stage I (DHP I) Project. "This financing will support the expansi

World Bank working paper advocates increased devolution for Panchayats

Empowering ward members (WMs) within village councils, who currently lack financial resources and act merely as rubber stamps, is another recommendation

IMF issues warning of significant downside risks for Pakistan's economy

This uncertainty, it warns, could have profound effects on policymaking, particularly given the high cost of living and other political complexities

Pak to seek rollover of $12 bn debt to meet target before IMF team arrives

Pakistan has decided to seek a rollover of around USD 12 billion debt from key allies like China in the 2024-25 fiscal year to meet a whopping USD 23 billion worth of gap in its external financing as the federal government aims to achieve budget targets before the expected arrival of an IMF team to the cash-strapped country. According to the Finance Ministry insiders, USD 5 billion from Saudi Arabia, USD 3 billion from the UAE and USD 4 billion from China will be rolled over, adding that the estimate of further new financing from China would also be included in the next financial year's budget, The Express Tribune newspaper reported. Pakistan will receive more than USD 1 billion from the International Monetary Fund (IMF) under the fresh loan programme, whereas new financing from the World Bank and Asian Development Bank has also been included in the estimated budget. According to the Finance Ministry sources, new loan programme agreements will be made with financial institutions. Th

Afghanistan receives $84 mn in aid from World Bank amid humanitarian crisis

The Ministry of Economy welcomed the World Bank's assistance and stated that it may support economic expansion and project modifications that result in job creation for the nation's workforce

Centre begins early preparations for new World Bank Business index

Interministerial meetings underway with DPIIT to get a head start on B-Ready, due for 2026