World Bank

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.

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

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

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

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