Page 5 - World Bank Group

Pakistan's tax collection insufficient to meet financial needs: World Bank

It also suggested that the country should increase tax collection from major sectors and eliminate income tax, sale tax, and customs duties exemptions

MDB reforms off the block

Driven by the G20 declaration, transformative changes have begun at multilateral banks

ADB unlocks $100 bn funding capacity with capital management reforms

The reforms, carried out through an update of ADB's Capital Adequacy Framework (CAF), would expand the bank's annual new commitments capacity to more than $36 billion

MDBs at the centre of any chance of meeting the climate challenge

Giving a lecture at a Confederation of Indian Industry (CII) event on 'The World is on Fire', Summers spoke about the challenges of overcoming poverty as well as climate change

FM Sitharaman discusses capital adequacy framework with World Bank, ADB

Sitharaman and Banga stated that they look forward to Volume 2 of the report that will be submitted during the 4th FMCBG meeting in Morocco in October

G20 Summit 2023: World Bank report bats for DPI for financial inclusion

Other examples of DPIs include Singapore's Singpass, the Philippines' PhilSys, UAE-Pass, and fast payment systems such as India's UPI, Brazil's Pix, Turkiye's FAST among others

Experts blame grey market, IMF as Pakistani rupee goes into free fall

Tresmark CEO Faisal Mamsa said, "The interim government trying to overstep its perceived capacity, which is sending a conflicting message to markets

The World Bank must reform

Overhauls to multilateral development banks could be a lasting legacy of India's G20 presidency

11 World Bank officials meet Finance Minister Sitharaman in New Delhi

The Executive Directors of the world bank shared their key takeaways with Union Finance Minister Nirmala Sitharaman from their visits to Mumbai, Ahmedabad and Lucknow

How the World Bank group can scale climate finance

IFC should aim to become the leading equity fund manager and fund-of-funds manager for climate mitigation investment in emerging markets

India will be shielded from risks of global slowdown: World Bank President

'India gets a lot of its GDP from domestic consumption'

Predominantly digital exports fuel India's services trade, shows data

Segment accounts for over 15 per cent of total goods and services exports for India, others

Developed world slowdown to apply brakes on India's remittance inflows

Growth in remittance flows into India to decelerate to 0.2% in 2023, from 24% in 2023: World Bank

Indian economy to be the fastest-growing in FY24, says World Bank

Global growth forecast lifted to 2.1%

World Bank approves $300 million financing to help the poor in Lebanon

The World Bank approved a USD 300 million additional financing to Lebanon's poor, providing cash payments to help families struggling through the country's historic economic meltdown, institution said in a statement Friday. The new financing comes two years after the World Bank approved a USD 246 million loan to Lebanon to provide emergency cash assistance to hundreds of thousands in the tiny Mediterranean nation of 6 million people. Lebanon is in the throes of the worst economic and financial crisis in its modern history. The meltdown, rooted in decades of corruption and mismanagement by Lebanon's ruling class, began in October 2019 and has left more than three quarters of Lebanon's population in poverty. The additional financing will enable the Government of Lebanon to continue to respond to the growing needs of poor and vulnerable households suffering under the severe economic and financial crisis, said Jean-Christophe Carret, World Bank Middle East Country Director. The World B

Integrating NE with neighbouring nations could raise GDP by 8%: World Bank

Responding to a query regarding India's potential for export and import in the region, the official remarked that currently India only trades one-third of its potential with the South Asia region

India asks for $55-million funding in first call with Pandemic Fund

The fund was created in the aftermath of the COVID-19 global pandemic. Sources said the funding request from India is for fighting both human pandemics as well as animal induced pandemics

Indian-origin Ajay Banga confirmed as next president of World Bank

Ex- Mastercard CEO Ajay Banga to a five-year term as World Bank president

India jumps 6 places on World Bank's Logistic Performance Index, ranks 38

India has climbed six places on the World Bank's Logistic Performance Index (LPI) 2023, now ranking 38th in the 139 countries index, as a result of significant investments in both soft and hard infrastructure as well as technology. India was ranked 44th on the index in 2018 and has now climbed to 38th in the 2023 listing. India's performance has drastically improved from 2014, when it was ranked 54th on the LPI. Prime Minister Narendra Modi-led government had announced PM Gati Shakti initiative, a National Master Plan for multimodal connectivity, in October 2021 to reduce logistics cost and boost the economy by 2024-25. In 2022, the prime minister had launched the National Logistics Policy (NLP) to ensure quick last-mile delivery, end transport-related challenges, save time and money of the manufacturing sector and ensure desired speed in the logistics sector. These policy interventions are fructifying, which can be seen in India's jump in LPI and its other parameters. According

IMF cuts FY24 India growth forecast to 5.9% as global banking crisis weighs

Projection of 5.9% is among the lowest; retail inflation expected to ease to 4.9%