Photo: Brand Equity
School Closures To Cost More To India Among All South Asian Nations: World Bank
A report by the World Bank, titled, ‘Beaten Or broken: Informality and Covid-19‘, has warned that prolonged closure of schools in Covid-19 pandemic may lead to loss of $420-$600 billion to India. While 5.5 million students will drop out across South Asia, India will be affected majorly. The study also mentioned that despite government’s effort, failed remote learning programs not only halts the learning process but leads to children… read-more
Tags: World Bank, Education, Covid-19, South Asia, INDIS'S GDP
Courtesy: The Hindu
Photo: Deccan Herald
World Bank Chief Says 'Dire Outlook' For Indian Economy; Indicates 9.6% Dip in Economy
The World Bank Chief Economist for South Asia Hans Timmer has stated that though the Indian Government's effort with limited resources was commendable, the Indian economy has a “dire outlook” after the impact of the lockdown. A report by the bank mentioned that Indian economy might take a dip by around 9.6% for the fiscal year that started March 2020. However, a regional growth of 4.5% is expected in FY2021.
Tags: World Bank, Indian Economy, GDP, Growth
Courtesy: The Hindu
Photo: Devex
World Bank Requests Board to Approve $12 bn Financing for Covid-19 vaccine
World Bank President, David Malpass, has requested the board to approve $12 billion for COVID-19 vaccine financing to aid developing and poor nations. This amount is a part of $160 billion funds pledged by the Organization towards COVID-19. The funding is aimed at helping poor countries procure the vaccination, when available, and distribute it early on, bringing them at par with rich countries. The board will consider the plan in early… read-more
Tags: World Bank, David Malpass, Covid-19, Covid Vaccine, Developing countries
Courtesy: The Hindu
Photo: Bol24
Haryana CM'S Principal Secretary Appointed as World Bank's Executive Director
On September 14, Haryana's IAS officer Rajesh Khullar was appointed as the Executive Director of the World Bank. He will hold the post for three years in Washington DC. Khullar will represent India, Bangladesh, Bhutan and Sri Lanka. Khullar has held various top administrative posts in Haryana and across India. The executive directors of the World Bank group will be appointed or elected by the Appointment Committee of Cabinet.
Tags: World Bank, IAS, Haryana, Rajesh Khullar
Courtesy: The Indian Express
Photo: Gulfif.org
Explosion at Labanese Port Beirut is Tainting the Environment, Says UN
Wreckage of Beirut blast has created upto 800,000 tonnes of waste, with posing concern to the city and marine environment. UN opined that toxics at site can increase health related issues. It also raised concerns over the lax pre-disaster conditions of the city. World Bank has requested the authorities to restore the site in sustainable manner. While estimating project cost worth $100 million, UNDP stressed the need of donations.
Tags: Beirut, Lebanon blast, United Nations, World Bank
Courtesy: News.un.org
