Page 2 - World Bank

WB approves $212.64 mn project to support coastal communities in TN, K'taka

The World Bank has approved a new programme to support coastal communities in India by conserving ecosystems, reducing plastic pollution and creating jobs for 1 lakh people in Tamil Nadu and Karnataka. The USD 212.64 million Strengthening Coastal Resilience and the Economy (SHORE) project is part of the USD 850 million SHORE programme that has been initiated by the World Bank to address challenges faced by the coastal communities. India has a long coastline of more than 11,000 km, while one-third of it is vulnerable to erosion and extreme climate events. Around 250 million people depend on coastal areas for their livelihood. The coastline also provides habitats for 18,000 known species of flora and fauna, offering vital economic opportunities and sources of livelihood for coastal communities. However, marine ecosystems are at risk by the combined effect of coastal erosion, pollution, intensive fishing, degradation of mangrove forests and urban pressures. "In Tamil Nadu and Karnatak

No, Minister: Subhash Chandra Garg's 2nd memoir mirrors tone of his first

The tenor of the second part of former finance secretary Subhash Chandra Garg's memoir is not dissimilar to that which pervaded his first one --and the title is a dead giveaway

World Bank plans securitisation, debt swaps to boost development

"We can't do project by project," Banga said of the securitisation plans. "We don't have 100 years."

Urban projects expand, but private investment continues to remain elusive

Despite the clear pace of growth of cities in India, the ability of the city managers to track private investment is slow

Gita Gopinath to exit IMF in August, return to Harvard as economics professor

Gita Gopinath, the first woman to serve as the IMF’s Chief Economist and later its No. 2 official, will step down at the end of August 2025. She returns to her academic roots at Harvard University.

India needs $2.4 trn to build climate-resilient infra by 2050: World Bank

India needs over $2.4 trillion by 2050 to meet the infrastructure needs of its urban population, which is expected to nearly double, says the World Bank in a new report

35% bank account holders in India had inactive accounts in 2021: World Bank

World Bank's Global Findex 2025 finds over one-third of Indian bank accounts were inactive in 2021, driven by Jan Dhan accounts and lack of comfort in usage

Has Indian inequality declined? Post-tax income data holds the answer

Many who are accustomed to media reports claiming high inequality in the country have responded to the WB's claims with scepticism or outright dismissal

Pakistan faces 44.7% poverty while neighbours progress, reveals World Bank

Neighbouring countries like China, Bangladesh, and Nepal have managed to make meaningful progress in poverty alleviation through targeted strategies, industrial growth, and social reforms

Gaps in data gathering understate actual levels of inequality in India

According to the Household Consumption Expenditure Survey (HCES) 2022-23, inequality in consumption did decline

Congress slams govt assertion on India being among 'most equal' countries

The Congress on Monday termed as "fraudulent" and "intellectually dishonest" the government's assertion that India is among the world's most equal countries, and said the Modi government cannot simply wish away the stark reality of deepening inequalities by "doctoring data". The opposition party's attack came after an official release, citing World Bank data, said inequality in India has come down significantly between 2011-12 and 2022-23, making it the fourth-most equal country globally. The Congress demanded that the Press Information Bureau (PIB) must clarify as to the origins of this press release and retract it immediately. Congress general secretary in-charge communications Jairam Ramesh said, "Aap chronology samajhiye. The World Bank released its Poverty and Equity Brief for India in April 2025. Immediately after, the Congress released a statement identifying the several warning signs that the World Bank had flashed for poverty and inequality in India - including warnings abo

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

Govt says India ranks 4th in income equality on World Bank database

India's Gini Index score of 25.5 places it among the world's most equal societies, ahead of China and the US, reflecting shared growth and effective poverty reduction efforts

World Bank approves over $1 bn for infra projects in Iraq, Syria, Lebanon

The World Bank said on Wednesday it approved over USD 1 billion dollars for infrastructure and reconstruction projects in Iraq, Syria and Lebanon. The biggest amount went to Iraq, where the World Bank approved USD 930 million to help improve the country's railway infrastructure, boost domestic trade, create jobs and diversify the economy. The World Bank said the Iraq Railways Extension and Modernisation Project will improve services and increase freight capacity between the Umm Qasr Port on the Persian gulf in southern Iraq to the northern city of Mosul. As Iraq shifts from reconstruction to development, enhanced trade and connectivity can stimulate growth, create jobs, and reduce oil dependency," said Jean-Christophe Carret, director of the World Bank's Middle East division. The World Bank also approved for war-torn Syria a USD 146 million grant to help restore reliable, affordable electricity and support the country's economic recovery. It said the Syria Electricity Emergency ...

Viksit Bharat by 2047 goal: Are we on track for tech advancement?

Public support for innovation must shift towards radical improvements in higher education and financial support for startups and new innovators

ADB, World Bank clear $1.5 bn loans to Bangladesh for reforms, climate push

The Asian Development Bank and the World Bank have approved loans worth USD 1.5 billion to help Bangladesh reform its banking sector, fight climate change among other projects, according to a media report on Friday. The Asian Development Bank (ADB) approved a USD 900 million loan, of which USD 500 million will support efforts to stabilise and reform the country's banking sector, while the remaining USD 400 million will promote climate-resilient and inclusive development initiatives, The Daily Star newspaper reported. The USD 500 million policy-based loan aims to strengthen governance, asset quality and stability within Bangladesh's banking system, the ADB said in a statement on Thursday. Separately, the ADB also approved a USD 400 million loan for the second phase of the Climate-Resilient Inclusive Development Programme (CRIDP) aimed at supporting Bangladesh's efforts to adapt to climate change, cut emissions and foster inclusive economic growth. Also on Thursday, the World Bank (W

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

Nirmala Sitharaman ask fintechs to find solutions to prevent cyberfrauds

Finance Minister Nirmala Sitharaman on Wednesday asked fintech startups to come out with solutions to deal with the rising incidence of digital arrests, cheating by fly-by-night operators, and other kinds of cyberfrauds. Lauding the success of fintechs, the Finance Minister said they have helped in speeding up financial inclusion, and taking the payment system to even the far-flung areas of the country. Speaking at the Digital Payments Awards 2025 Ceremony here, Sitharaman said it is important to ensure that startup companies come up with solutions so that people are not arrested at home digitally, or fly by night operators don't take away their money. Another major threat, she pointed out, is 'deep fake', which is causing a lot of damage to the public in large. "Today, we should take care of addressing them so we need a set of fintech companies which are constantly working to give solutions for the newer challenges which are arising," Sitharaman said. She also called upon the fin

World Bank lifts ban on nuclear power, considers upstream gas projects

Meeting rising power demand is 'one of the most urgent and complex development challenges we face,' the bank's president, Ajay Banga said

Stock Market close highlights: Sensex, Nifty settle higher; IT, OMC stocks rally; Bank, FMCG drag

Sensex Today | Stock Market close, Wednesday, June 11, 2025: HCL Tech, Infosys, Tech Mahindra, Bajaj Finserv and Reliance Industries were the top Sensex gainers