Page 8 - World Bank Group
Afghanistan continues to face economic hardships under the Taliban
Afghanistan is facing economic hardships after the takeover of the Taliban in August this year and its financial crisis has increased further.Afghanistan's economy continues to plummet with the Taliban takeover. Afghanistan's economy is largely made up of the agriculture and services sector, both of which have already shown a decline. Agriculture has been the biggest source of employment has taken a huge hit due to the rising insecurity in the country and widespread droughts, according to the International Forum for Rights and Security.Further, nine out of ten Afghan families are already unable to obtain sufficient food stocks and over 1 million children could face malnutrition and even death by starvation with further scares of the outbreak of diseases like measles and polio throughout the population, it added.Earlier, the World Food Programme (WFP) has warned of the emerging food insecurity in Afghanistan will affect almost 14 million people.Further, in the regional hospital in ...
 "Afghanistan continues to face economic hardships under the Taliban")
IMF board decides to keep Georgieva as chief after data-fixing scandal
Georgieva is a Bulgarian economist and the first person from an emerging-market nation to run the IMF.
 "IMF board decides to keep Georgieva as chief after data-fixing scandal")
IMF's Georgieva accuses former World Bank Prez Kim's office of manipulation
Georgieva said her effort to prevent Hong Kong data from being added to China's Doing Business ranking demonstrated her concern for preserving the integrity of World Bank data.
Montek Ahluwalia named member of World Bank-IMF High-Level Advisory Group
Climate change is at the top of the agenda this year in both developed and emerging market countries, says Ahluwalia
 "Montek Ahluwalia named member of World Bank-IMF High-Level Advisory Group")
World Bank boosts growth forecasts as US stimulus, vaccines stoke demand
Emerging markets excluding China are expected to grow 4.4% in 2021
 "World Bank boosts growth forecasts as US stimulus, vaccines stoke demand")
World Bank approves $500 mn program to help boost India's MSME sector
The loan has a maturity of 18.5 years including a 5.5-year grace period.
IFC to invest $100 mn in JC Flowers India fund to help resolve NPAs
International Finance Corporation (IFC) is a World Bank Group entity
 "IFC to invest $100 mn in JC Flowers India fund to help resolve NPAs")
World Bank, IMF eye ways to link debt relief to climate change spending
Source said planning was still in the early stages, but the goal was to launch the platform late in 2021, with a secretariat to be hosted at the World Bank
 "World Bank, IMF eye ways to link debt relief to climate change spending")
World Bank economist Deepak Mishra appointed as director of ICRIER
Mishra has held various positions at the World Bank, including co-director of the World Development Report 2016
Post Covid, 65% low income countries slashed education budgets: Report
The World Bank report said the current levels of government spending in low and lower-middle income countries fall short of those required to achieve the Sustainable Development Goals
 "Post Covid, 65% low income countries slashed education budgets: Report")
World Bank approves cash assistance to crisis-struck Lebanon
The World Bank approved a $246 million loan to Lebanon to provide emergency cash assistance to nearly 800,000 Lebanese reeling under the country's compounded economic and health crises.
IFC invests $30 mn in Biological E to boost Covid-19 vaccine production
The loan will support the pharmaceutical firm's expansion of low-priced, generic vaccines for routine immunisation of children and to boost capacity for manufacturing any future Covid-19 vaccine
 "IFC invests $30 mn in Biological E to boost Covid-19 vaccine production")
IFC and its fund to invest $76 mn in Puravankara affordable housing
Two of the four projects being funded are planned in Kochi and Bengaluru, with saleable area of 4.5 mn sq ft. About 4,000 housing units will be built in next 5-7 seven years
 "IFC and its fund to invest $76 mn in Puravankara affordable housing")
World Bank okays $300 mn loan to Pak to tackle climate change, solid waste
The Washington-based lender approved $200 million for the Sindh Resilience project and $100 million for the Solid Waste Emergency and Efficiency project
World Bank says G20 may agree to only six-month debt relief extension
World Bank President David Malpass said the two institutions would propose a joint action plan to reduce the debt stock for poor countries with unsustainable debts
 "World Bank says G20 may agree to only six-month debt relief extension")
Reducing Covid risks may help economy more than easing curbs: World Bank
Global institution uses daily electricity consumption and night-time light intensity to gauge impact of Covid-19
IFC to invest $10 mn in Endiya Partners Fund II for product start-ups
Endiya Partners is a seed and early-stageventure capital firm investing in IP-led Indian product start-ups that are globally relevant
 "IFC to invest $10 mn in Endiya Partners Fund II for product start-ups")
IMF, World Bank confirm plans for 'primarily virtual' annual meetings
Malpass first disclosed the plans for virtual annual meetings in a letter to the Bank's governors on Monday
 "IMF, World Bank confirm plans for 'primarily virtual' annual meetings")
World Bank approves $750 mn emergency response fund for India's MSME sector
This takes the World Bank's total commitment to $2.75 billion to support India's emergency Covid-19 response
 "World Bank approves $750 mn emergency response fund for India's MSME sector")
Covid-19 crisis: World Bank to rescue with $160-billion aid to 100 nations
'Covid, shutdown may push as many as 60 mn people into extreme poverty'