World Bank Reforms

Egypt will receive a USD 500 million loan from the World Bank to help finance its wheat purchases as prices skyrocket because of the Russian invasion of Ukraine, the Bank said on Wednesday. The funds, approved on Tuesday by the World Bank Board of Executive Directors, aim at supporting Egypt's efforts to provide subsidized bread to poor and vulnerable households, it said. It said the funds will help the government of the Arab world's most populous country finance procurement of imported wheat. This emergency operation comes at a very critical juncture when the food security of many countries is threatened by the war in Ukraine, said Marina Wes, World Bank Country Director for Egypt Yemen, and Djibouti. Egypt is the world's largest wheat importer, and the country's supply is subject to price changes on the international market. The war in Europe has already hiked prices of the grain since both Russia and Ukraine export nearly a third of the world's wheat. Around 70 million Egyptian

Sankalp and Strive are outcomes focused schemes, marking a shift in government's implementation strategy

World Bank team is set to visit India in late July to prepare this year's rankings