Tag: World Bank

World Bank intensifies aid for rejuvenating Ganga, sanctions USD 400 mn

July 3, 2020

• The World Bank on 1^st July said it has intensified its assistance for the Government of India’s program to rejuvenate the Ganga river with a USD 400 million (about Rs 3,000 crore) assistance that will support stem pollution in the river.

World Bank to provide USD 750 mn to help 15 cr viable MSMEs

July 1, 2020

• The World Bank on 1st June declared it will provide a USD 750 million budget assistance to 15 crores micro, small and medium enterprises (MSMEs) to enhance liquidity access for viable small businesses impacted by COVID-19.

Tamil Nadu, World Bank ink loan agreements worth $250 mn to advance affordable housing projects

June 30, 2020

• The central government, Tamil Nadu state government and the World Bank on 29th June inked loan ventures worth $250 million for two projects to encourage low-income groups in the state to have access to affordable housing.

World Bank grants USD 500 million to improve the quality of Education System

June 29, 2020

• The World Bank on 28th June declared its Board of Executive Directors has permitted USD 500 million (about Rs 3,700 crore) loan to upgrade quality and governance of school education in six Indian states. The board authorized a loan for Strengthening Teaching-Learning and Results for States Program (STARS) on June 24, 2020.

India holds the position of the 3rd-largest economy on PPP basis for 2017

June 28, 2020

• India has fixed its spot as the third-largest economy after China and the US in terms of purchasing power parity (PPP) for 2017, stated the government citing the World Bank data.

India’s economy to shrink by 3.2% (means -3.2%) in the fiscal year 2020-21: World Bank

June 9, 2020

• The World Bank assumes India’s economy to contract 3.2% in the current fiscal year (2020-21), a sharp downgrade from its April projection of 1.5%-2.8% growth, citing rigorous lockdown and spillovers from weaker global growth.

The global economy will decline by 5.2% in 2020: World Bank

June 9, 2020

• The global economy is on way to drop by 5.2 % this year amid the COVID-19 pandemic, the deepest recession since the Second World War, the World Bank Group stated in its latest Global Economic Prospects.

Rajeev Topno, private secretary to PM Modi, receives World Bank assignment

June 5, 2020

• Rajeev Topno, the 1996 batch IAS officer who has worked as a key aide to Prime Minister Narendra Modi, has been selected as senior advisor to the World Bank Executive Director.

Covid-19 can turn 60 million into poverty, adopt comprehensive policies: WB

June 3, 2020

• The World Bank on 2nd June made countries to go for comprehensive policies to promote long-term growth along with short term measures to address health emergencies and secure core public duties in the wake of the coronavirus crisis, between indications that 60 million people could be pushed into extreme poverty in 2020.

Abhas Jha appointed as World Bank’s Practice Manager for Climate Change

May 25, 2020

• Abhas Jha has been selected as the World Bank’s Practice Manager for Climate Change and Disaster Risk Management for South Asia and will be work to sustain, lead, inspire and position a team of highly qualified professionals to produce the best solutions for South Asian countries.