Tag: World Bank

Over $157 billion deployed in last 15 months to fight Covid-19 pandemic: World Bank

NEW DELHI: In its largest-ever crisis response, the World Bank has deployed over USD 157 billion to fight the impact of the COVID-19 pandemic on health, economic and social fronts over the last 15 months. This represents an increase of more than 60 per cent over the 15-month period prior to the pandemic, the bank […]

India received $83 billion in remittances in 2020: World Bank report

NEW DELHI: India received over USD83 billion in remittances in 2020, a drop of just 0.2 per cent from the previous year, despite a pandemic that devastated the world economy, according to a World Bank report. China, which received USD59.5 billion in remittances in 2020 against USD68.3 billion the previous year, is a distant second […]

World Bank signs $500 million project with India to develop green, resilient and safe highways

NEW DELHI: The government of India and the World Bank today signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh. The project will also enhance the capacity of the Ministry of Road Transport and Highways (MoRTH) in mainstreaming safety […]

India and World Bank sign $400 million project to protect India’s poor and vulnerable from the impact of COVID-19

NEW DELHI: The Government of India and the World Bank today signed a $400 million project to support India’s efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic. This is the second operation in a programmatic series of two. The first operation of $750 million was approved […]

India-World Bank sign 120 million USD agreement to implement Meghalaya Integrated Transport Project

NEW DELHI: The Government of India, the Government of Meghalaya and the World Bank signed a $120 million project to improve and modernise the transport sector of state of Meghalaya. This will help Meghalaya to harness its vast growth potential for high-value agriculture and tourism. The project will improve about 300 km of strategic road […]

India’s GDP expected to contract by 9.6 per cent this fiscal: World Bank

By Lalit K Jha NEW DELHI: The World Bank on Thursday said that India’s GDP is expected to contract by 9.6 per cent this fiscal which is reflective of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic, noting that the country’s economic situation is much worse […]

Global economic recovery may take five years, says World Bank chief economist

MADRID:The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank’s chief economist Carmen Reinhart said on Thursday. “There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but a full recovery will take as much as […]

Coronavirus pandemic drives broadest economic collapse in 150 years: World Bank

The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday. The world economy is expected to contract by 5.2 percent this year — the worst recession in 80 years — but the sheer number of […]

Narendra Modi’s private secretary Rajeev Topno moves to World Bank

NEW DELHI: Senior bureaucrat Rajeev Topno, private secretary to the prime minister, has been appointed as senior advisor to the Executive Director, World Bank in Washington, a personnel ministry order said on Thursday. Topno, a 1996 batch IAS officer of Gujarat cadre, will have three years tenure, it said. Another officer who served in the […]

Pandemic a ‘perfect storm’ for South Asia, says World Bank

NEW DELHI: South Asia is on course for its worst economic performance in 40 years, with decades of progress in the battle against poverty at risk, because of coronavirus, the World Bank said Sunday. India, Bangladesh, Pakistan, Afghanistan and other smaller nations, which have 1.8 billion people and some of the planet’s most densely populated […]

World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago

NEW DELHI: India is likely to record its worst growth performance since the 1991 liberalisation this fiscal year as the coronavirus outbreak severely disrupts the economy, the World Bank said on Sunday. India’s economy is expected to grow 1.5% to 2.8% in the 2020-21 fiscal which started on April 1, the World Bank said in […]

Back To Top