Tag: World Bank

India and World Bank ink $400 million projects to protect India’s poor

December 17, 2020

• The Government of India and the World Bank have inked a $400 million project to guard vulnerable groups in urban and peri-urban areas across the country affected by COVID-19.
• This is the second such assistance in the series of two ‘Accelerating India’s COVID-19 Social Protection Response Programme’. Under the first operation, $750 million was recommended by World Bank in May 2020.

Former World Bank President James Wolfensohn passes away

November 27, 2020

• Australian-American lawyer, investment banker, and economist James Wolfensohn, who worked as the President of the World Bank for 10 years, passed away.
• He had worked as the ninth president of the World Bank Group from 1995 to 2005.

DIPAM signs agreement with World Bank

November 19, 2020

• Department of Investment and Public Asset Management (DIPAM) has inked an agreement with the World Bank, to give advisory services to DIPAM for asset monetization.
• DIPAM has a framework for monetizing non-core assets.

World Bank plans to propose 25 billion dollars to help poorest countries fight COVID-19 pandemic

October 17, 2020

• The World Bank President, David Malpass informed on October 14, 2020 that the bank has called in for an emergency financing of 25 million dollars.

World Bank: India’s GDP to contract by 9.6% in FY-21

October 9, 2020

• The World Bank projected India’s GDP to contract by 9.6% this FY-21 in its latest report titled ‘South Asia Economic Focus’.
• The World Bank earlier in June had estimated the Indian economy to shrink by 3.2% in the current fiscal.

Human Capital Index released by World Bank

September 18, 2020

• Annual Human Capital Index was released by the World Bank recently. India has been ranked at the 116^th position.

World Bank appointed Rajesh Khullar as Executive Director

September 15, 2020

• The World Bank appointed Rajesh Khullar as Executive Director. Khullar is currently posted as principal secretary to chief minister Manohar Lal Khattar. He will join the World Bank in the first week of November.

Himachal Pradesh signed MoU with World Bank for Roads Transformation Projects

September 8, 2020

• Himachal Pradesh signed MoU with World Bank of worth $82 million loan for Roads Transformation Projects in the state.

AIIB and WB are planning to provide $8-billion health infra scheme

August 8, 2020

• Asian Infrastructure Investment Bank(AIIB) and World Bank(WB) are discussing to provide India help of $8-billion to boost health infrastructure schemes at the district level.

World Bank approved $202 million financial support to Bangladesh

August 4, 2020

• The World Bank approved $202 million financial support to Bangladesh to enhance the storage capacity and improve the efficiency of grain storage. They have already constructed three and now planning for five more.