Page 6 - World Bank

Green pathways present a $1.6-trn investment window: World Bank report

The report also suggests adopting climate-responsive cooling techniques in both private- and government-funded constructions

Remittances up 5% in 2022, but growth to slow to 2% next year: World Bank

Remittances are a vital source of household income for people in low- and middle-income countries, helping to alleviate poverty and building resilience

Indore plans nation's first retail municipal bond for solar power project

Indore Municipal Corp. seeks to raise as much as 2.6 billion rupees ($31.8 million) via a 10-year bond sale next month

Multilateral agencies judging third world on false reports: Govt advisor

A senior government advisor has accused World Bank and other multilateral agencies and rating agencies in assessing third world countries like India based on factually incorrect reports being peddled by vested interest private agencies to suit their politically coloured views. Sanjeev Sanyal, a member in the PM's economic advisory council, while addressing the ongoing global summit of accountants here on Sunday evening also said it's high time that the World Bank and rating agencies question such reports because the parameters on which they have been prepared are bizarre most of the time and thus are far from reality. Most of the western reports, be it political or economic, are prepared by a narrow group of individuals who pedal their politically mired opinions as facts, Sanyal said, adding and when such reports are about India I can say that they are very far from reality. I'd request the World Bank to look into such politically biased reports being flaunted as factual because the

Indian cities will need $840 bn investment over 15 years: World Bank

Municipal bonds account for a marginal share in debt financing, says the report

G20 unveils global pandemic fund to avoid repeat of Covid pandemic

Funds will be used to help countries prevent future pandemics; fundraising currently at $1.4 billion

World Bank warns of heavy toll on Philippines due to climate change

Climate shocks, whether in the form of extreme weather events or slow-onset trends, will hamper economic activities, damage infrastructure, and induce deep social disruptions, the report said

Digital currency just a stone's throw away

As geopolitical tensions rise, efforts for globalisation of CBDC take centre stage. But the financial system may face a significant interoperability problem in the near future

Energy prices to fall 11% in 2023 as economies slow down: World Bank study

Currency depreciation in developing countries could deepen food and energy inflation: Commodity Markets Outlook report

Afghanistan's economy contracted by about 20% in 2021: World Bank

Afghanistan's economy contracted by about 20 in 2021, according to the World Bank's new Afghanistan Development Update, which states the Afghan economy is adjusting to a "new normal"

World Bank advises Pakistan to take internal steps for economic recovery

World Bank on Sunday advised Pakistan to take internal measures along with help from the international community by implementing economic reforms to recover from the cataclysmic floods

World Bank advises Pakistan to take internal steps for economic recovery

World Bank Vice President for South Asia, Martin Raiser advised Pakistan to take internal measures along with help from the international community to recover from the cataclysmic floods

Economic distortions hold back economic growth of Pakistan, says World Bank

The World Bank said that economic distortions hold back the economic growth of Pakistan

Pakistan: World Bank estimates floods caused $40 bn in damages

Pakistan said Wednesday that the World Bank estimates this summer's record-breaking floods have caused $40 billion in damages in this impoverished South Asian nation. The figure is $10 billion more than an earlier estimate by the Pakistani government. Cash-strapped Pakistan was already facing a serious financial crisis before the heavy monsoon rains hit in mid-June. The rains triggered unprecedented floods that at one point left a third of the country's territory submerged, forcing hundreds of thousands of people to move to safer places. The new assessment came during a meeting in the capital, Islamabad, between Prime Minister Shahbaz Sharif and experts on climate change. There was no immediate word from the World Bank on the new estimate. The flooding, which experts say is made worse by climate change, has killed 1,719 people and affected 33 million since mid-June. The waters have damaged or washed away 2 million homes. Sharif's government last month offered an estimate of $30 ...

Indus Waters Treaty: World Bank appoints chairman of Court of Arbitration

The World Bank has appointed a "neutral expert" and a chairman of the Court of Arbitration regarding the Kishenganga and Ratle hydroelectric power plants, in view of disagreements and differences between India and Pakistan over the 1960 Indus Water Treaty. Announcing the appointments, the World Bank said on Monday that it is confident that the highly qualified experts appointed as Neutral Expert and as members of the Court of Arbitration will engage in fair and careful consideration of their jurisdictional mandate, as they are empowered to do by the Treaty. Michel Lino has been appointed as the Neutral Expert and Sean Murphy has been appointed as Chairman of the Court of Arbitration. They will carry out their duties in their individual capacity as subject matter experts and independently of any other appointments they may currently hold, the World Bank said in a statement. There was no immediate reaction from India to the appointments. India and Pakistan signed the treaty in 1960 .

World Bank steps in to mediate water dispute between India and Pakistan

The World Bank announced the beginning of two parallel legal processes to address Pakistans concerns over two hydropower projects on the western rivers by India in violation of the Indus Basin Treaty

Joe Biden brushes off risks of strong dollar on global economy

The dollar has climbed roughly 15% this year as the Federal Reserve embarked on an aggressive campaign to raise interest rates to tamp US price increases.

World Bank offers to take India's digitisation to rest of world: Sitharaman

World Bank President David Malpass has offered to work with India to take its successful digitisation efforts to other countries so that they can also benefit from it, Finance Minister Nirmala Sitharaman has said. Speaking to Indian reporters on Saturday during a press conference towards the end of her trip to Washington city where she attended the annual meetings of the International Monetary Fund and the World Bank, Sitharaman said there was a request extended to India to showcase how Indian people have accepted the deepening digital applications. In fact, today, in my meeting with the World Bank President David Malpass, he said that you should now showcase the deepening of digital applications in India and how common people have accepted it, Sitharaman said after she met Malpass at the World Bank headquarters here. He said he will be happy from the World Bank side, to work together with India to be able to take it to the other parts of the world. There is not just the World Bank

Countries concerned of effects of developed nations' decisions: Sitharaman

During the just concluded annual meetings of the International Monetary Fund and the World Bank, several countries including India expressed concern over the spillover effects of political and economic decisions of developed nations, Union Finance Minister Nirmala Sitharaman said. The minister said she raised the issue prominently during her meetings here. Earlier this week, Sitharaman had said that in the near-term, advanced nations must take responsibility for the global spillover of their political and economic decisions and put in place safety nets rather than impose sanctions on nations who are merely fulfilling their moral and democratic obligations for their people. Her remarks came in the wake of the push by the US-led western countries to reduce their oil purchase from Russia and warning to other nations that they would face sanctions if they continued to do so. In an interaction with a group of Indian reporters here on Saturday, she said she raised the issue during her ..

Remain steadfast on principles of common responsibilities: FM to World Bank

Nirmala Sitharaman urged the World Bank to avoid a unidimensional view of subsidies and not to lose focus on the internationally agreed basic principle of common but differentiated responsibilities