Pakistan Gets USD 330M Loan From Asian Development Bank

15 Dec 2024

The Pakistan government signed a USD 330 million loan agreement with the Asian Development Bank (ADB) on Saturday. This funding will support the Integrated Social Protection Development Programme (ISPDP). Economic Affairs Secretary Kazim Niaz and ADB Country Director Emma Fan were present at the signing, as reported. Niaz emphasized the...

World Bank Pledges Record $100 Billion Aid For Global Poverty Fight

06 Dec 2024

The World Bank has announced it raised nearly $24 billion to support some of the world's poorest countries, leveraging this amount to generate an unprecedented $100 billion in total spending capacity. This funding, part of the International Development Association (IDA), marks an increase from the $23.5 billion pledged three years...

‘India’s Growing Economy’: Sitharaman Says US And China Can’t Overlook Economic Might

24 Oct 2024

Union Finance Minister Nirmala Sitharaman emphasized India's growing global influence, underscoring that with one in every six persons in the world being Indian, the country's economy and capabilities cannot be overlooked. She made these remarks during a panel discussion on "Bretton Woods Institutions at 80: Priorities for the Next Decade,"...

Punjab cabinet focuses on dam management ahead of Panchayat Elections

09 Oct 2024

The Punjab government convened a cabinet meeting today in Chandigarh, just ahead of the upcoming panchayat elections. This meeting marked a significant occasion as it was the first since the recent reshuffle of five ministers, highlighting the government’s renewed focus on addressing pressing issues in the state. Originally scheduled to...

India Losing Manufacturing Edge To Rivals like Bangladesh, Vietnam: World Bank

03 Sep 2024

India’s share in global trade has not kept up with its rapidly growing economy, causing the country to lose its competitive edge in manufacturing exports to smaller rivals like Bangladesh and Vietnam, according to a new report from the World Bank. The report highlights concerns over India's declining trade in...

World Bank Revises India’s FY25 Growth Rate To 7% From 6.6%

03 Sep 2024

The World Bank has increased its growth forecast to 7% for the financial year 2024-25, up from the previous estimate of 6.6%. This adjustment underscores India's robust economic performance, having been the fastest-growing major economy in FY24 with an impressive growth rate of 8.2%. "India was the fastest growing economy...

Revanth Reddy And Ajay Banga Agree On Roadmap For Collaborative Projects

08 Aug 2024

During his visit to the United States, Telangana Chief Minister A Revanth Reddy and World Bank President Ajay Banga held discussions and agreed to create a roadmap for collaboration on various projects, according to a release from the Chief Minister's Office (CMO) on Wednesday. The release noted that potential partnership...

India Continues To Remain Top Recipient Of Remittances, Crosses $100 Billion Mark

26 Jun 2024

In the field of Remittance, India continues to stay at the top, as in the fiscal year 2023-24, the indian diaspora has sent around $107 billion in remittances. Thus, crossing the $100 billion mark for the second financial year consecutively. According to ET report, the net remittances are now double...

World Bank: Waste management a significant challenge for India and World

31 Oct 2023

One of the biggest sustainability challenges facing the world, not just India, is waste management. A recent Commodity Markets Outlook from the World Bank clarifies the urgent problem of waste generation and its extensive effects on the environment, the economy, and society. Cities throughout the world are facing an urgent...

G20 : According to the World Bank the impact of India’s digital public infrastructure goes beyond financial inclusion

08 Sep 2023

According to the World Bank, India's digital public infrastructure has had a profound impact that goes well beyond financial inclusion. In a document, the international financial institution praised India, noting that the progress it has made in only six years would have taken roughly five decades otherwise. India has created...