World Bank

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IMF, World Bank roll out debt relief plans for low-income nations in green investments push
World

IMF, World Bank roll out debt relief plans for low-income nations in green investments push

Low-income countries face a twin crisis, under pressure to pay down their debt while also confronting emerging environmental issues.

Evidence of normalisation of India’s economic activity, says IMF chief economist Gita Gopinath
India

Evidence of normalisation of India’s economic activity, says IMF chief economist Gita Gopinath

In its annual World Economic Outlook, the Washington-based global financial institution said that the Indian economy is expected to grow by 6.9 percent in 2022

India GDP growth to range from 7.5% to 12.5% in FY 21-22, but economy not out of woods yet, says World Bank
Business

India GDP growth to range from 7.5% to 12.5% in FY 21-22, but economy not out of woods yet, says World Bank

The World Bank, in its latest report, said that the economy was already slowing when the COVID-19 pandemic unfolded. After reaching 8.3% in FY17, growth decelerated to 4% in FY20

COVID-19-induced closure of 15 lakh schools impacted 24.7 crore children in India, finds UNICEF study
India

COVID-19-induced closure of 15 lakh schools impacted 24.7 crore children in India, finds UNICEF study

The report stated that online education is not an option for all in India as only one in four children has access to digital devices and internet connectivity

China claims to have ended 'extreme poverty', but experts question if it set the bar too low
World

China claims to have ended 'extreme poverty', but experts question if it set the bar too low

The Chinese Communist Party is presently celebrating the official 'end of extreme poverty' in the country with a massive propaganda campaign

Xi Jinping declares 'complete victory' in eradicating absolute poverty in China
World

Xi Jinping declares 'complete victory' in eradicating absolute poverty in China

At a gathering in Beijing, Xi claimed that over 10 million poor people were lifted out of poverty on average each year since he came to power in 2012

India tops world in road crash deaths and injuries, 1.5 lakh die in accidents every year, says World Bank
World

India tops world in road crash deaths and injuries, 1.5 lakh die in accidents every year, says World Bank

The World Bank also noted that India has only one percent of the world's vehicles, but accounts for 11 percent of all road crash deaths in the world

World Bank says Indian economy may contract by 9.6% in 2020-21, estimates severe income losses in informal sector
India

World Bank says Indian economy may contract by 9.6% in 2020-21, estimates severe income losses in informal sector

In the rest of South Asia, the economic impact of COVID-19 has been somewhat less severe but still significant. Economies that depend heavily on tourism and travel have been especially hard hit

World Bank approves four India projects worth over $800 million aimed at improving education, dam safety
World

World Bank approves four India projects worth over $800 million aimed at improving education, dam safety

The projects will also look at strengthening India's social protection architecture and promoting nutrition-supportive agriculture for tribals in Chhattisgarh

In Bangladesh, abuse of Madhupur's indigenous people persists amidst government's 'social forestry' programmes
long-reads

In Bangladesh, abuse of Madhupur's indigenous people persists amidst government's 'social forestry' programmes

The Garos of Madhupur Sal forest have been struggling for the right to access the forest since 1962, when the Madhupur forest was declared a national park by the Pakistan government, which then administered the land.

Ex-World Bank economist says RBI's proposal to allow businesses into banking is 'good-looking' step in 'bad direction'
India

Ex-World Bank economist says RBI's proposal to allow businesses into banking is 'good-looking' step in 'bad direction'

Kaushik Basu added that there is a good reason that all successful economies have a clear line between industries and corporations on one hand, and banks and lending organisations on the other

One in six children lives in extreme poverty, finds UNICEF and World Bank analysis; calls for urgent recovery plan
World

One in six children lives in extreme poverty, finds UNICEF and World Bank analysis; calls for urgent recovery plan

Sub-Saharan Africa accounts for two-thirds of children living in households that survive on an average of US $1.90 a day or less per person

Union Cabinet approves STARS project under NEP 2020: World Bank-aided plan aims to strengthen education system
India

Union Cabinet approves STARS project under NEP 2020: World Bank-aided plan aims to strengthen education system

The outcomes would be measured in terms of minimum proficiency in grade 3 language, improvement in secondary school completion rate and improvement in governance index scores

Global economy to plunge to deepest recessions post-COVID since Great Depression: World Bank
World

Global economy to plunge to deepest recessions post-COVID since Great Depression: World Bank

On Wednesday, the World Bank approved the extension of health emergency programmes to up to $12 billion for vaccines and therapeutics in developing countries

Union Cabinet approves Rs 5,718 crore World Bank-aided STARS project to boost school education system
India

Union Cabinet approves Rs 5,718 crore World Bank-aided STARS project to boost school education system

The project seeks to support six states — Himachal Pradesh, Rajasthan, Maharashtra, Madhya Pradesh, Kerala and Odisha — in strengthening the school education system as per the new National Education Policy 2020

World Bank approves $12 bn for COVID-19 vaccine financing plan, treatment in developing countries
World

World Bank approves $12 bn for COVID-19 vaccine financing plan, treatment in developing countries

The funding is part of an overall World Bank Group package of up to $160 billion through June 2021 designed to help developing countries battle the coronavirus pandemic

India's GDP expected to contract by 9.6% this fiscal, says World Bank report
India

India's GDP expected to contract by 9.6% this fiscal, says World Bank report

The spread of COVID-19 and containment measures have severely disrupted supply and demand conditions in India, the World Bank said in its latest South Asia Economic Focus report

China under global pressure to offer relief in debt repayment to coronavirus-hit poor countries: Reports
World

China under global pressure to offer relief in debt repayment to coronavirus-hit poor countries: Reports

A payment of an estimated $12 billion due by the end of 2020 has been rescheduled. But over 100 low and middle-income countries will still have to pay a total of $130 billion this year to China

By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19, says World Bank
World

By 2021, as many as 150 million people likely to be in extreme poverty due to COVID-19, says World Bank

In its report, the World Bank noted that the lack of recent data for India severely hinders the ability to monitor global poverty

India drops one position in World Bank's Human Capital Index, ranked 116  among 174 nations
India

India drops one position in World Bank's Human Capital Index, ranked 116 among 174 nations

However, India's score in the 2020 Human Capital Index update, which ranked countries based on health and education data till March, was still better than its performance in 2018