Page 4 - World Bank

Turkey earthquakes: World Bank to provide $1.78 billion for relief

The lender is offering immediate assistance of $780 million through two existing projects to rebuild basic municipal-level infrastructure

World Bank must act on climate change to check poverty, development

As warming intensifies and extreme weather worsens, the developing world will increasingly suffer the worst harms, making it more difficult for countries to meet their development goals

Turkey to get $1.78 bn from World Bank for relief and recovery efforts

The World Bank has announced providing USD 1.78 billion in assistance to Turkey to help with relief and recovery efforts after devastating earthquakes in Turkey and neighbouring Syria.The death toll following the earthquakes that hit Turkey and Syria on Monday has risen to 21,051, CNN reported citing authorities. At least 78,124 people in Syria and Turkey were injured after the quakes, CNN cited the figures from the Turkish government, the White Helmets and Syrian state media.The World Bank in a press release said that it has started a rapid damage assessment to estimate the magnitude of the disaster and identify priority areas for recovery and reconstruction support, based on its extensive experience in disaster risk management from around the world."The World Bank announced today $1.78 billion in assistance to help relief and recovery efforts following devastating earthquakes and aftershocks in Turkiye that have already resulted in massive loss of life, injuries, and very ...

World Bank keen on Rs 2,500-cr green resilient programme for Himachal: CM

Most departments will switch over to EVs by next year in the first phase, says CM Sukhu

Developed world hasn't acted on 2009 climate pledge: G-20 Sherpa Kant

India will be seeking to restructure multilateral financial institutions like the International Monetary Fund and World Bank which are out of sync with present-day challenges, a top official said on Monday. These Bretton Woods bodies were created after the World Bank, and are largely focused on the direct lending which was necessary in the post-second world war period, India's G-20 Sherpa, Amitabh Kant, said. He said 15x more resources can be ploughed in to fight various developmental challenges like education and health and achieve sustainable development goals by using innovative financial instruments like blended finance, credit enhancement and first loss guarantees. So you will need a restructuring of the multilateral financial institutions over a long period of time. And that is critical for the world. I mean, a lot of these are things which are doable within this year's presidency, Kant said during an Asia Society event here late this evening. Earlier in the day, Kant had sai

Against the flow

Pakistan has nothing to complain about the Indus Waters Treaty

Night Time Light radiance in India rose 43% in last 10 years: Report

According to NTL Atlas, released by Isro's National Remote Sensing Centre (NRSC), some states saw a growth of over 400 per cent in the past decade

6 million people in Pakistan facing acute food insecurity: World Bank

A new report from the World Bank has revealed that an alarming six million people in Pakistan are currently experiencing acute food insecurity as a result of the devastating floods

World Bank delays $1.1 billion loan to cash-starved Pakistan until next FY

The Bank's documents also showed that the PACE-II loan might be approved in the next fiscal year

Pace of remittance inflows has slowed for India in the past decade

Cash transfers increased in absolute terms but the rate of growth decelerated

World Bank sees India growth slowing to 6.6% next fiscal from expected 6.9%

India's economic growth rate will slow to 6.6 per cent in next financial year from an expected 6.9 per cent in 2022-23, the World Bank said in its latest economic update. India however is expected to be the fastest growing economy of the seven largest emerging-market and developing economies (EMDEs), it said. The growth rate of 6.9 per cent in current fiscal year (April 2022 to March 2023) compares with 8.7 per cent in the previous year. For 2024-25, the growth rate is projected at 6.1 per cent. "The slowdown in the global economy and rising uncertainty will weigh on export and investment growth," it said. The government has increased infrastructure spending and various business facilitation measures. However, it will crowd-in private investment and support the expansion of manufacturing capacity. "Growth is projected to slow, to 6.6 per cent in FY2023/24 before falling back toward its potential rate of just above 6 per cent," it said. The GDP expanded by 9.7 per cent on an annua

World Bank slashes Pakistan GDP growth projection to 2% as crisis worsens

Pakistan's economic condition is precarious with low foreign exchange reserves and large fiscal and current account deficits, has further worsened by severe flooding

Top headlines: World Bank cuts economic growth forecast, DESH Bill deadlock

Business Standard brings you the top headlines at this hour

Indian economy to grow at a robust 6.6% in FY24, says World Bank

'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession

World Bank cuts 2023 economic growth forecasts, warns of global recession

Spillovers from a period of pronounced weakness in the US, China and the European Union are exacerbating other headwinds faced by poorer nations

Freebie culture hurting economic growth, must end: L&T chairman A M Naik

Developing infrastructure should be the govt's top priority, says L&T chairman

Top Headlines: India's GDP may grow 7% in FY23, forex reserves up by $44 mn

Business Standard brings you the top headlines at this hour

World stocks soar, investors pare rate bets after US jobs data

Wall Street sparked a global rally in stocks on Friday after a crucial US jobs report showed wage growth slowed in December, fueling investor bets that inflation is easing

World Bank grants $8.86 mn to improve Lebanon's solid waste management

The aid will be financed by the Global Environment Facility, a multilateral funder of green endeavours in developing countries which comprises UN affiliates and national entities

Word Bank approves $1.69 bn to support people in flood-affected Pakistan

The World Bank on Tuesday approved USD 1.692 billion in financing for five projects to support people living in flood-affected areas of cash-strapped Pakistan's Sindh province, according to a media report. Pakistan witnessed unprecedented monsoon rains over the summer that put a third of the country underwater, damaged two million homes, and killed more than 1,700 people. Out of the projects announced by the World Bank on Tuesday, three support rehabilitation, housing reconstruction, and the restoration of crop production for vulnerable communities, while the two projects support health services for mothers and children, Dawn reported, citing a statement issued by the global lender. It said that Sindh was the province worst affected by the 2022 floods as there was huge damage to the housing, health, and agriculture sectors and people lost their livelihoods. "Beyond the rehabilitation and reconstruction of damaged houses and infrastructure, our engagement in the flood response effor