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The World Bank has approved USD 700 million in financing for Pakistan under a multi-year initiative aimed at supporting the country's macroeconomic stability and service delivery, media reports said on Saturday. According to the lender, funds will be released under the bank's Public Resources for Inclusive Development Multiphase Programmatic Approach (PRID-MPA), which could provide up to USD 1.35 billion in total financing, the Dawn newspaper reported. Of this amount, USD 600 million will go for federal programmes and USD 100 million will support a provincial programme in Sindh. The approval follows a USD 47.9 million World Bank grant in August to improve primary education in Punjab. A separate statement issued by the lender quoted Bolormaa Amgaabazar, the World Bank's country director for Pakistan, as saying, Pakistan's path to inclusive, sustainable growth requires mobilising more domestic resources and ensuring they are used efficiently and transparently to deliver results for
World Bank on Wednesday said it has approved funding for two projects in India that will benefit more than 60 lakh people by using innovative digital solutions to improve the quality of education in Punjab and boost incomes for small and marginal farmers in Maharashtra. The World Bank Board of Executive Directors on November 25 approved two projects in India that will benefit more than 6 million people by using innovative digital solutions to improve the quality of education in Punjab state and boost incomes for small and marginal farmers in Maharashtra state, World Bank said in a statement. The Punjab Outcomes-Acceleration in School Education Operation (POISE) programme (USD 286 million) will help improve quality education in Punjab with the aid of technology to track learning outcomes. It will ensure 13 lakh students are enrolled in primary schools, and more than 2.2 million students are enrolled in secondary schools. In addition, 59 lakh students will be supported in early ...
India needs to give further impetus to financial sector reforms and boost private capital mobilisation to become a USD 30-trillion economy by 2047, according to a World Bank report. The World Bank's Financial Sector Assessment (FSA) report has acknowledged that India's 'world class' digital public infrastructure and government programmes have significantly improved access to a wider range of financial services for men and women. It has also made suggestions to further boost account usage, especially for women, and to facilitate access to wider range of financial products for individuals and MSMEs. The Financial Sector Assessment Program (FSAP), a joint programme of the International Monetary Fund (IMF) and the World Bank (WB), undertakes a comprehensive and in-depth analysis of a country's financial sector. Since September 2010, the exercise has become mandatory for jurisdictions with systemically important financial sectors. Currently, it is mandatory for 32 jurisdictions, includ
The World Bank on Friday said it has approved a USD 280 million loan for a health system programme in Kerala to improve the life expectancy and quality of life for 11 million elderly and vulnerable people. The programme aims to treat and support over 90 per cent of patients registered for hypertension and diabetes in the state through individual electronic tracking mechanisms. It will also establish a home-based care model for bedbound, homebound, and vulnerable elderly to provide comprehensive health services. "The World Bank's Board of Executive Directors have approved a new programme to improve the life expectancy and quality of life for 11 million elderly and vulnerable people in the state of Kerala through wider access to health coverage and resilient health systems," the World Bank said in a statement. The USD 280 million Kerala Health System Improvement Programme will build a more comprehensive health system resistant to climate shocks. It will also strengthen Kerala's digita
The World Bank, which has pledged USD 800 million for the Amaravati Capital Phase-I development, is expected to disburse the second tranche of USD 200 million by the end of this year, a senior official of the Andhra Pradesh government said on Thursday. The World Bank and Asian Development Bank (ADB) have each committed to fund USD 800 million, totalling 1600 million (Rs 13,600 crore), for Amaravati capital city phase-I development. Additionally, the Centre will fund Rs 1400 crore, out of the Rs 15,000 crore committed by it for Phase-I of the development. As part of its commitment, the World Bank has already released USD 207 million, of which nearly 50 per cent was spent on various works, S Suresh Kumar, Principal Secretary ( Municipal Administration and Urban Development) said. Almost about, I think around Rs 1800 crore or something they have released already. So out of that I think we have, I think only about less than 50 per cent only we have spent till now. I think before Decembe
World Bank Group President Ajay Banga has praised Uttar Pradesh's efforts to integrate technology with agriculture, describing the state's "resilient farming model" a global example for small and marginal farmers. Speaking at the AgriConnect Flagship event during the 2025 Annual Meetings of the World Bank, Banga showcased the UP model, having visited the state and seen things for himself in May, said the state's director of information, Vishal Singh. "The World Bank also posted its chief's speech on X, where he described what he witnessed in Uttar Pradesh," he said. The UP government also put out a statement stating how Banga commended the Yogi Adityanath government for developing an agricultural ecosystem that is resilient by design, stressing that climate adaptability was built into the system from the start rather than added later. "The way Uttar Pradesh is addressing climate challenges through its farmers is remarkable," Banga said in his speech that was shared by the UP ...
Sri Lanka's recent economic performance has been strong, but the recovery remains incomplete, the World Bank said on Tuesday. "With growth still below pre-crisis levels and poverty significantly elevated, strengthening the recovery will require continued macroeconomic stability, urgent structural reforms, and more efficient, better-targeted public spending, it said. Sri Lanka's economy crashed in 2022 due to a forex crisis stemming from the COVID-19 pandemic and other flawed political and economic management reasons since 2019. The current turnaround was aided by the four-year IMF bailout of nearly 3 billion USD pinned to a stringent reform regime. While Sri Lanka's recent economic progress is encouraging, the recovery is uneven and incomplete, said David Sislen, World Bank Division Director for Maldives, Nepal, and Sri Lanka. The World Bank projects Sri Lanka's economy to grow by 4.6 per cent in 2025 supported by a modest rebound in industry and steady growth in services before