World Bank Group

IFC invests $60 million in Everstone Capital's new Fund V initiative

IFC's $60-million investment in Everstone Capital's Fund V will target high-growth sectors such as healthcare, technology, consumer goods, and financial services across India and Southeast Asia

Zimbabwe needs G20 support to end debt crisis, says World Bank chief

Zimbabwe first defaulted on repayments to the World Bank in 2000. Its debts to a host of multilateral institutions and bilateral lenders

High equality ranking for India masks deeper gaps, say economists

According to the World Bank, India's Gini Index stands at 25.5, making it the fourth most equal country in the world, after the Slovak Republic, Slovenia and Belarus

World Bank grants $50 million to improve Sri Lanka's education system

The World Bank has approved a new USD 50 million additional financing package for Sri Lanka through its ongoing General Education Modernisation Project, which would benefit an estimated 5,00,000 students and 1,50,000 teachers. In a press release on Friday, the World Bank said the additional funding will help keep vital education reforms on track, improve teaching quality, upgrade school facilities, and enhance student well-being. The World Bank said the additional funding will focus on underserved schools, including those in the plantation communities and those supporting children with special needs. Schools across all nine provinces, regardless of grade level, are expected to benefit from this support, the press release said. This support is about making sure every child in Sri Lanka has the chance to learn in a safe, inclusive environment and that every teacher has the tools they need to help their students thrive, said David Sislen, World Bank Divisional Director for the Maldive

World Bank urges 'radical' debt transparency to prevent future crises

World Bank wants to broaden the depth and detail of what sovereign countries disclose regarding new loans, as more of them enter complex, off-budget borrowing deals due to global market turmoil

World Bank keeps India growth forecast unchanged amid trade uncertainty

"India would maintain the fastest growth rate among the world's largest economies, at 6.3 per cent in FY26," the World Bank said in its report

Two neighbours, two futures: India's rise amid Pakistan's mounting woes

India and Pakistan are charting opposite courses, with New Delhi rising in global influence while Islamabad battles economic turmoil and diplomatic isolation, according to World Bank

Birla Estates raises Rs 420 cr from IFC to finance projects in Mumbai, Pune

Real estate company Birla Estates has raised Rs 420 crore from International Finance Corporation (IFC) to finance its two projects in Mumbai Metropolitan Region and Pune. Birla Estates Pvt Ltd is a wholly-owned subsidiary of Aditya Birla Real Estate Ltd (formerly Century Textiles and Industries Ltd). In a regulatory filing on Monday, the company announced signing of agreements for an investment from IFC, a member of the World Bank Group. "The investment, approximately USD 50 million (Rs 420 crore), will be directed towards two of Birla Estates' key developments: with around Rs 148 crore in Birla Estates' Manjri project (Pune) having around 3.13 million sq ft saleable area and about Rs 272 crore in Birla Estates' Thane project with 6.43 million sq ft saleable area," it said. The projects will be developed through two Special Purpose Vehicles (SPVs) owned and controlled by Birla Estates. IFC's investment will be made into these SPVs, which will serve as the development platform for b

India to oppose World Bank's $20 bn lending to Pakistan next month

India will next month oppose the World Bank funding to Pakistan, just as it had done in case of IMF, arguing that Islamabad had used such funds in the past to procure arms and ammunitions, a government source said. Multilateral agencies' funding to developing countries are meant for poverty alleviation and development goals, but Pakistan's track record has been to misuse them for military purposes, the source said. World Bank is likely to review next month its USD 20 billion lending to Pakistan under the Country Partnership Framework agreed in January this year. The funds to cash-starved Pakistan were for areas, including clean energy and climate resilience for a period of the ten years beginning 2026. "We will oppose the upcoming World Bank funding to Pakistan," the source said. India had lobbied with IMF Chief Kristalina Georgiev and ministers of IMF board member nations against the agency extending a USD 2.3 billion assistance to cash-strapped Pakistan earlier this month. New

Urgent need for collaboration to tackle urban begging: World Bank economist

World Bank Lead Economist Benedicte Leroy De La Briere on Friday said there is an urgent need for multi-sectoral collaboration and robust systems to address the intricate challenges surrounding urban begging and street homelessness. Addressing the 'Hard to Reach Population SMILE (Beggary)' seminar, she said there is a need for tailor-made solution to the issue. Because they are so complicated and they need to be so tailored to each individual, governments end up often implementing those programmes through non-governmental organisations, she noted. The cost of providing comprehensive care, including health support, identification services, skill development, and rehabilitation, is high, De La Briere added. They end up per beneficiary being quite expensive, she added at the seminar held by the Ministry of Social Justice and Empowerment in partnership with the World Bank. De La Briere said despite their visibility, people who beg remain hard to reach due to multiple systemic barrier

Sunil Bharti Mittal joins World Bank's pvt sector investment lab initiative

The World Bank Group on Thursday announced the launch of the next phase of PSIL

UN lauds India's efforts in mitigating childhood mortality, stillbirth

India is among the top performer countries with reduction in mortality and stillbirth rates

Economic policies in India are made for 'Bombay club', says RJD MP AD Singh

Participating in a debate on the Finance Bill, Singh quoted a report of the World Bank from 2024, and said India's economic growth has slowed down, and at current pace

Will a poor monsoon have the same effect in 2025 as it did earlier?

India's agricultural sector is still largely dependent on the four-month-long Southwest monsoon, but that correlation may be weakening as irrigation infra develops

RBI will push payment systems innovations with soft touch regulations: Guv

The Reserve Bank will continue to promote innovations in payment systems with soft touch regulations within regulatory guardrails and expand the reach of UPI for more efficient cross-border payments, Governor Sanjay Malhotra said on Monday. In his address at the Inauguration of Digital Payments Awareness Week 2025 here, the governor said apart from the RBI, the government and other important stakeholders like banks and payment system operators have also taken a number of initiatives to encourage the adoption of digital payments. "While these efforts have produced results, as visible in the huge growth of digital payments, there is still a lot more to be done. Going forward, we will work on three broad areas," he said. The areas are soft-touch regulations to continue promoting innovation, promote awareness generation, and more efficient cross-border payments. "We will continue to encourage innovation while promoting safety and security through soft touch regulations," the RBI chief

World Bank bullish on India, reaffirms confidence in its economic potential

The World Bank on Wednesday expressed strong confidence in the Indian economy and appealed to all to come and invest in the country. Speaking at the Advantage Assam 2.0 Business Summit, World Bank country director Auguste Tano Kouame said the lender remains optimistic about India's economic prospects, despite a slight downward trend in growth. "We are not worried about India's growth at the moment. We are very bullish about India and will remain bullish," he added. He emphasised that fluctuations of one percentage point in economic growth do not alter the World Bank's positive outlook. "If somebody is worried about recent data, we would like to say that don't worry. India is the shining light in the world. If you are looking to invest, then come and invest here. The Indian growth makes it the place to invest," he added. For the current fiscal, the Reserve Bank of India (RBI) projected the economic growth at 7.2 per cent in December 2024, compared to 8.2 per cent in 2023-24.

World Bank to decentralize operations, shift regional VPs to overseas hubs

Members of the bank's executive board were broadly supportive when briefed about the plan in recent weeks, two sources familiar with the plans said

World Bank's triple-A rating threatened if Trump pulls support: Moody's

Last week, Trump signed an Executive Order to review US government support to all international intergovernmental organisations of which it is a member and to withdraw from some UN organisations

Kerala secures Rs 2,424 cr World Bank loan to strengthen healthcare system

The Kerala government on Wednesday approved the Kerala Health System Improvement Programme by availing a loan of Rs 2,424.28 crore from the World Bank. The state Cabinet meeting chaired by Chief Minister Pinarayi Vijayan, which granted approval, decided to implement the project under the Programme for Results (P for R) model. According to a CMO release, the main objective of the programme is to ensure an excellent standard of living and life expectancy while helping the people of the state build a life free from preventable diseases, accidents, and premature deaths. "All interventions under the programme will focus on ensuring the welfare of the poor. The project aims to establish resilient healthcare systems that provide value-based healthcare while addressing the state's evolving demographic and epidemiological challenges," it said. The government said the project will also enhance coordination between various state departments to effectively respond to emerging threats, includin

World Bank's Banga seeks $85 billion to leverage Africa's youth potential

Banga laid out a plan in which the World Bank, International Monetary Fund, African Development Bank and private investors may spend about $85 billion to bring power to 300 million people by 2030