Tag: World Bank

  • Trump nominates Malpass to head World Bank

    Trump nominates Malpass to head World Bank

    Washington : US President Donald Trump on Wednesday announced that he has chosen David Malpass, undersecretary for international affairs at the US Treasury Department, as the US candidate for the next president of the World Bank. Calling Malpass a “very extraordinary man,” Trump said in a statement at the White House that he launched a…

  • Ivanka Trump to help choose new World Bank President

    Ivanka Trump to help choose new World Bank President

      Washington : Ivanka Trump, US President Donald Trump’s daughter and senior adviser, will help choose the new World Bank President, the White House has said.   Jessica Ditto, a White House spokeswoman, said on Monday that Ivanka Trump was asked because “she’s worked closely with the World Bank’s leadership for the past two years”,…

  • World Bank head quits, Trump likely to determine successor

    World Bank head quits, Trump likely to determine successor

    By Arul Louis, United Nations : World Bank President Jim Yong Kim has announced that he is stepping down as the head of the premier anti-poverty institution putting the likely choice of its future leadership in the hands of US President Donald Trump, a sceptic of international development. Trump’s role is expected reinvigorate challenges to…

  • World Bank commits $25-30 bn for India’s transition to high middle-income country

    World Bank commits $25-30 bn for India’s transition to high middle-income country

    New Delhi : The World Bank Group (WBG) on Friday approved its largest country program for India with a likely assistance of $25-30 billion by fiscal 2021-22 to help India’s transition to a higher middle-income country. “With a fast growing economy, global stature, and its unique experience of lifting the highest number of poor out…

  • World Bank approves Rs 929.89 crore for Shimla’s water supply project

    World Bank approves Rs 929.89 crore for Shimla’s water supply project

    Shimla : The World Bank has approved in principle a financial assistance of Rs 929.89 crore for a water supply and sewerage project for the state capital, Himachal Pradesh Urban Development and Country Planning Minister Sarween Chaudhary said on Thursday. The final negotiation meeting for loan sanction will be held on October 24. The assistance…

  • The Age of Awakening

    The Age of Awakening

    By Amit Kapoor and Chirag Yadav, It took just over seven decades after the British left India, but recent growth trends make it clear that this year the latter will overtake its erstwhile coloniser to become the fifth-largest economy in the world. A few months ago, World Bank data revealed that India had already muscled…

  • World Bank offers Myanmar $100m for Rakhine development

    World Bank offers Myanmar $100m for Rakhine development

    Naypyidaw : The World Bank has offered Myanmar $100 million in aid for development projects in the conflict-torn state of Rakhine, hit by violence in 2017 that led to the exodus of more than 700,000 Rohingyas, a Muslim minority community, to neighbouring Bangladesh. The offer came during a three-day visit by the World Bank Vice…

  • Indian economy to advance 7.3% in 2018-19, fastest growing: World Bank

    Indian economy to advance 7.3% in 2018-19, fastest growing: World Bank

    By Arul Louis, United Nations : India is projected to regain its position as the world’s fastest growing major economy advancing 7.3 per cent this fiscal year and 7.5 per cent in the next two “as factors holding back growth in India fade”, according to the World Bank forecasts. The growth projections reflect “robust private…

  • World Bank offers Afghanistan $691mn for support

    World Bank offers Afghanistan $691mn for support

    Kabul : The World Bank provided a grant of $691 million to Afghanistan to support its efforts in reviving economy and improving access to quality healthcare, the Afghan Finance Ministry said on Wednesday. The new financing will help modernize state-owned banks, expand regional telecommunication connectivity, electronic-government services and create enabling environment for private sector investment,…

  • Indian economy to grow at 7.3% in FY19: World Bank

    Indian economy to grow at 7.3% in FY19: World Bank

    New Delhi : India would grow at 7.3 per cent in 2018-19, the World Bank said on Wednesday forecasting that the economy would revert to its trend growth rate of 7.5 per cent by 2019-20 as it bottoms out from the impact of the Goods and Services Tax (GST) and demonetisation. In the current year,…