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 […]
Coronavirus may make education outcomes worse: World Bank
By Gunjan Sharma NEW DELHI: The COVID-19 pandemic has threatened to make education outcomes worse and without aggressive policy, the virus outbreak across the globe will have immediate costs on both learning and health of children and youth, according to the World Bank’s education team. Experts from the World Bank have pointed out that even […]
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 […]
World Bank to continue with $6 billion annual lending support to India
NEW DELHI: World Bank President David Malpass on Saturday said the multi-lateral funding agency will continue with $6 billion lending target for India. As many as 97 projects are being currently executed with loan assistance from the World Bank. “World Bank right now has 97 projects with $24 billion committed. So, we expect the programme […]
India halved its poverty rate since 1990s: World Bank
By Lalit K Jha WASHINGTON: India has halved its poverty rate since the 1990s and achieved a seven plus growth rate over the last 15 years, the World Bank said on Tuesday. India is both critical to the success of global development efforts, including eliminating extreme poverty, and as an influential leader for global goods […]
Axel van Trotsenburg appointed World Bank Managing Director of Operations
WASHINGTON:World Bank Group President David Malpass has announced that he has appointed Axel van Trotsenburg as World Bank Managing Director of Operations. “As we build the World Bank Group leadership team, Axel brings deep experience in regional operations and finance as well as an unwavering commitment to the Bank’s urgent mission,” said Malpass. “Underpinned by […]
World Bank cuts India’s growth projection to 6%
WASHINGTON : After a broad-based deceleration in the initial quarters of this fiscal year, India’s growth rate is projected to fall to 6%, the World Bank said on Sunday. In 2018-19, the growth rate of the country stood at 6.9%. However, the bank in its latest edition of the South Asia Economic Focus said the […]
Dropped Amaravati project as Centre withdrew finance request: World Bank
NEW DELHI: The World Bank on Friday said it ‘dropped’ the $300-million loan proposal for the Amaravati development project as the central government withdrew the financing request, triggering a blame game between the ruling YSRC and opposition TDP in Andhra Pradesh. “The Government of India has withdrawn its request to the World Bank for financing […]
SBI Managing Director Anshula Kant appointed MD and CFO of World Bank
NEW DELHI: Anshula Kant, managing director of the State Bank Of India (SBI), has been appointed as managing director and chief financial officer of the World Bank, its president David Malpass announced on Friday. As Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, […]
India’s GDP expected to grow at 7.3 per cent in 2018-19: World Bank
By Lalit K Jha WASHINGTON: India’s GDP is expected to grow at 7.3 per cent in the fiscal year 2018-19, and 7.5 per cent in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment. The bank said India will continue to be the fastest growing major […]
India-Pakistan trade potential stands at $ 37 billion: World Bank
ISLAMABAD: The trade potential between India and Pakistan stands at $37 billion, according to a World Bank report which said that continued political tensions and lack of normal trade relations between the two nations have cast a shadow over cooperation efforts within South Asia. The report ‘A Glass Half Full: The Promise of Regional Trade […]
India signs S$ 74 million financing loan agreement with World Bank
NEW DELHI: A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed with the World Bank here today. The Loan Agreement was signed by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India on behalf of the Government of India […]