'Indian Economy Is Recovering, But Not Enough': World Bank Chief
The World Bank President David Malpass welcomed the progress in the Indian Economy which was hit hard by the COVID-19 pandemic. He further said that India was facing huge challenges, but now has made huge progress with the huge production of vaccines. However, Malpass also said, ''There is progress, but not enough.'' Earlier, the World Bank expected the Indian Economy to grow at 8.3% this year.
Tags: World Bank, Indian Economy, Covid-19, India
Courtesy: The Economic Times
World Bank Discontinues 'Doing Business Report' Over China's Fraud
After the World Bank's decision to stop publishing the report of "Doing Business" ranking, media reports on September 17 expect India to become the preferred manufacturing base in the world replacing China. Reportedly, the World Bank found that China's ranking in 2017 was boosted as a result of pressure by some top officials. However, India is free of any irregularities in data.
Tags: World Bank, China, Doing Business, Fraud, India
Courtesy: The Times Of India
World Bank Suspends All Financial Assistance To Afghanistan
World Bank momentarily suspended all financial assistance to Afghanistan on August 25. World Bank's spokesperson said that the organisation was "deeply concerned" about Afghanistan's condition and prospects for women. In a statement, it said that all expenditures in its Afghanistan activities have been halted, and were being continuously watched and analyzed. Financial help for Afghanistan has also been cut off by the International Monetary… read-more
Tags: World Bank, Afghanistan, International Monetary Fund, Kabul
Courtesy: Republic World
World Bank Mobilized $157 Bn In Last 15 Months To Combat Covid
To combat the Covid-19 spread and overcome the financial crisis, the World Bank has so far mobilized $157 billion in the last 15 months on the health, social and economic sectors. It also said that it would continue to assist developing countries with financial aid until the economy is eased. Reportedly, since the start of the pandemic, the world has recorded over 19 million Covid-19 cases.
Tags: Covid-19, Economy boost, World Bank, Developing countries
Courtesy: DAILY NEWS WATCH
Global Pharma Industry Says Trade Barriers Hindering COVID Vaccine Supply
According to a World Bank report, 10Bn doses of vaccines should be sufficient for equitable distribution and make the world herd immune to COVID-19 by March 2022. Marking the first anniversary of Access to COVID-19 Tools Accelerator on April 24, the International Federation of Pharmaceutical Manufacturers and Associations said, while 1Bn milestone has been achieved, procurement of 10Bn doses is active and urgent steps are needed to eliminate… read-more
Tags: Covid-19, Vaccination, Vaccination Drive, World Bank
Courtesy: The Indian Express
IMF Suggests Postive Signs For Indian Economy; Hints Gradual Revival
The International Monetary Fund ahead of the Spring meeting with the World Bank has apprised that the Indian economy is en route to gradual revival. Remarkably, in a first since the pandemic's advent, India's economy, through advancements in gross, fixed capital formation, witnessed substantive GDP growth and improved performance in the fourth quarter of 2020. Moreover, the IMF spokesperson Gerry Rice suggested that although high-frequency… read-more
Tags: IMF, Indian Economy, GDP growth, World Bank, Covid-19, Lockdown
Courtesy: The Indian Express
India Accounts For 1% Of Global Vehicles, 10% Road Crash: World Bank
The World Bank’s report on road safety has strikingly exhibited India as a country with worlds 1% vehicles and 10% of road crash victims. Besides, the report mentioned vulnerable including poor, women, pedestrians and people from the informal sector hit the most. However, depicting Tamil Nadu with most (25%) reduced fatalities in road-rage, the report appreciated the Motor Vehicle Act amendment and suggested the need for a proper vehicle… read-more
Tags: Road crash victims, World Bank, Road accident, Road Safety
Courtesy: NDTV
Govt, World Bank Ink Agreement To Improve School Education System
The Indian government and World Bank have inked an agreement to finance the Strengthening Teaching-Learning and Results for States (STARS) project. The Rs 5,718-crore project would accrue Rs 3,700-crore from the World Bank while the remaining cost gap will be bridged by the participating states, over five years. The project aims to improve governance and quality of education in government schools in six Indian states - Himachal Pradesh,… read-more
Tags: Education Ministry, World Bank, STARS, DEA
Courtesy: The Indian Express
$105 Mn Project Signed To Improve Waterway Infra In Bengal
To modify the inland waterway infrastructure in West Bengal, the Union and the state government has signed a $105 million project with the World Bank. Reforming the old jetties, the project will provide new ferries and manage traffic at busy routes. The FinMin secretary stated that the cost-effective and eco-friendly transport system will help hinterland connectivity with Kolkata and usher development. Reportedly, the loan has a maturity of… read-more
Tags: water transport, Kolkata, ferries, World Bank, eco-friendly
Courtesy: Hindustan Times
World Bank To Provide $12Bn Financial Aid For Vaccine Deployment in Developing Countries
With a view to help developing nations fight the pandemic and access vaccines, the World Bank announced a financial aid of $12 billion. The amount is a part of World Bank Group package of $160 billion, pledged for Coronavirus, and intends to “support vaccination of up to a billion people.” The World Bank opined that a strengthened vaccine deliver system was key to alter the course of the pandemic to move towards "resilient recovery."
Tags: World Bank, Covid-19, Coronavirus Vaccines, Developing countries
Courtesy: The Economic Times