The Government of India, Government of Himachal Pradesh have inked a US$80 million loan agreement with the World Bank. The loan agreement aims to enhance water management practices and to improve agricultural productivity in 428 Gram Panchayats of Himachal Pradesh.
The World Bank declared 12 billion USD to help countries that are grappling with economic impacts of coronavirus. The World Bank is to give financial support for the countries to act upon the needs and develop a fast response towards the spread of the virus.
The Goverment of India has signed USD 450 million loan agreement with the World Bank. The loan agreement of USD 450 million targets to aid the national programme “Atal Bhujal Yojana (ABHY): National Groundwater Management Improvement Programme”.
World Bank Head economist Pinelopi Koujianou Goldberg declared she will be leaving the institution, according to a letter sent to colleagues.
“World Gold Outlook 2020” has been released by World Gold Council in which it placed Reserve Bank of India on 6th position in the largest buyer of sovereign gold abroad. RBI currently holds 625.2 tonnes of gold which is 6.6% of the country’s foreign exchange.
The other 5 countries that have bought more gold than India include China, Russia, Kazakhstan, Turkey and Poland. Higher taxes have exacerbated the local gold price consumption. The recently introduces new hallmarking reforms are expected to increase consumer trust, remove inefficiencies, promote growth and improve confidence.
The Reserve Bank of India (RBI) was the sixth largest gold buyer abroad in the year 2019, as per the World Gold Council (WGC) report titled, “World Gold Outlook 2020”. The RBI currently holds 625.2 tonnes of gold, which is 6.6 percent of its forex reserves.
RBI bought 7.5 tonnes of gold in October 2019, to increase its foreign exchange reserves to $450 billion. The central banks of China, Russia, Kazakhstan, Turkey, Poland bought more than India in 2019 respectively.
The report is a compilation of lists that rank 28 cities around the world to purchase luxury goods and services. Out of 28 cities, Mumbai was ranked as the cheapest city for purchasing luxury goods and services, while Hong Kong was found to be the most expensive.
The Government of India, the Government of Assam and the World Bank signed a loan agreement of $88 million here today to help modernize Assam’s passenger ferry sector that runs on its rivers including the mighty Brahmaputra. The Assam Inland Water Transport Project (AIWTP) will help Assam improve the passenger ferry infrastructure and its services and strengthen the capacity of the institutions running the inland water transport.
The government ferries are operated by the Assam Shipping Company (ASC) while the terminals and terminal services are provided by the Assam Ports Company (APC) in the state of Assam. A majority of Assam’s more than 361 ferry routes cross the Brahmaputra or serve its islands, providing a crucial means of transport to thousands of commuters in both the urban and rural areas of the Brahmaputra Valley.
The loan agreement was signed by Shri Khare, on behalf of Government of India and Mr Junaid Kamal Ahmad, Country Director (India), World Bank on behalf of the World Bank. Whereas, the Project Agreement was signed by Shri Adil Rashid, Commissioner (Assam Transport) and State Project Director on behalf of Government of Assam and Mr Kamal Ahmad on behalf of the World Bank.