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World Bank News
MSMEs alert! Big boost for liquidity and credit needs! Modi government, World Bank sign $750 million agreement - All details here
Mon, Jul 06, 2020
The $750 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 19 years including a 5-year grace period.
World Bank offers $750 mn loan for India's covid-hit MSMEs
Wed, Jul 01, 2020
The statement said that the World Bank Group, including its private sector arm - the International Finance Corporation (IFC), will support the government's initiatives to protect the MSME sector by unlocking liquidity and strengthening NBFCs and small finance banks and enabling financial innovations.
Good news! Low-income groups of this state to get access to affordable housing - All you need to know
Tue, Jun 30, 2020
It is a good news for low-income groups in the state of Tamil Nadu as Modi government!
Trump taps Indian-American lawyer Ashok Michael Pinto as US representative to World Bank lending arm IBRD
Tue, May 05, 2020
Pinto, who has worked as a Special Assistant and Associate Counsel to former president George W Bush, was on Monday nominated as US Alternate Executive Director of IBRD for a term of two years. If confirmed by the Senate, he would replace Erik Bethel, who has resigned from the post.
Remittances to India likely to decline by 23 pc in 2020 due to COVID-19: World Bank
Thu, Apr 23, 2020
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.
IMF, World Bank urge countries to keep trade open
Mon, Apr 20, 2020
The International Monetary Fund (IMF) and the World Bank Group (WBG) have called on countries to keep trade open as the world battles the COVID-19 pandemic, warning that export controls on medical supplies and other essentials could backfire
World Bank to launch COVID-19 emergency programmes
Sat, Apr 18, 2020
The World Bank Group (WBG) is expected to launch health emergency programs in over 100 countries by the end of April to support the fight against COVID-19.
World Bank pandemic bond under pressure as coronavirus spreads
Thu, Feb 20, 2020
A World Bank bond designed to deliver funding to help the world`s poorest countries to tackle fast-spreading diseases has lost half its value on the coronavirus outbreak in China.
Rs 14,000 cr plan to remove 'black spots' from roads: Nitin Gadkari
Fri, Dec 06, 2019
Mentioning there are no potholes on Mumbai-Pune Highway which was constructed 25 years ago when he was in Maharashtra government in 1995-2000, the Minister said the design of National Highway now is stronger compared to that.
Proud Moment for India! Country jumps 14 places in Ease of Doing Business from 77th to 63rd spot - Full list
Thu, Oct 24, 2019
India is going from strength to strength and the world is taking note. This is reflected in the rising graph of India in global ranking. Significantly, India has further improved its ease of doing business ranking, jumping 14 places to 63rd rank.
IMF-World Bank Annual Meetings 2019: FM Sitharaman says trade wars, protectionism have generated uncertainties
Sat, Oct 19, 2019
Finance Minister Nirmala Sitharaman called for ‘concerted action’ to mitigate the disruption on account of synchronous slowdown and to invoke the spirit of multilateralism for global growth.
Big boost for the auto industry, MSMEs: World Bank Group arm IFC to channel $200 million into Shriram Transport Finance
Thu, Jul 25, 2019
Big boost for the auto industry, MSMEs: IFC, a member of the World Bank Group, will channel $200 million into Shriram Transport Finance to primarily fund purchases of commercial vehicles and support MSMEs.
Credit to small firms: Government in discussions with multiple foreign lenders
Sat, Jul 20, 2019
A spokesman for World Bank in India on Saturday said the discussions with the government were in the early stages, adding that "further rounds of consultations will help us define the contours of this collaboration".
SBI MD Anshula Kant named World Bank MD and CFO
Fri, Jul 12, 2019
In a proud moment for India, State Bank of India (SBI) Managing Director Anshula Kant was named to the prestigious World Bank (WB) posts of Managing Director and Chief Financial Officer today. This was announced by none other than WB president David Malpass.
World Bank praises China's Belt and Road initiative but asks for more transparency in it
Wed, Jun 19, 2019
China’s massive Belt and Road infrastructure drive could speed up economic development and reduce poverty for dozens of developing countries, the World Bank said.
India's CreditVidya finds a place in Inclusive Fintech 50 list
Tue, Jun 18, 2019
CreditVidya, India’s leading big data-based credit assessment firm, has been included in the Inclusive Fintech 50, a list of the world’s top early-stage fintech firms driving financial inclusion.
World Bank retains India's growth rate for FY19-20 at 7.5 pct
Wed, Jun 05, 2019
India is projected to grow at 7.5 per cent in the next three years supported by robust investment and private consumption, the World Bank has said.
World Bank maintains China's 6.2% growth forecast for 2019
Fri, May 31, 2019
"Additional stimulus should be appropriately funded either directly at the central level or through additional fiscal transfers to the provinces. Higher spending on health, education and social protection could help boost demand and improve the quality of services, if combined with reforms to increase efficiency,"
Some reforms in India show benefits of digitalisation, reduction in frauds: IMF
Wed, Apr 10, 2019
External scrutiny by Supreme Audit Institutions (SAIs), parliaments and civil society helps safeguard the integrity of public finances and hold civil servants and elected officials accountable, the IMF said.
India retained top spot in remittances in 2018: World Bank
Tue, Apr 09, 2019
India has retained its spot as the world`s top remittance recipient with its diaspora sending $79 billion back home in 2018, the World Bank has said in a report.