Page 25 - World Bank

World Bank president Malpass says won't resign over climate change remark

World Bank President David Malpass said Friday he won't resign after coming under criticism for his remarks earlier this week regarding climate change. At an event sponsored by The New York Times on Tuesday, Malpass wouldn't answer directly when asked whether the burning of fossil fuels has contributed to global warming. Instead, he said, "I am not a scientist." In an interview with Politico Friday, Malpass said he wouldn't resign, and that he hasn't been asked to do so by any of the bank's member governments. He acknowledged he should have done a better job responding to questions on Tuesday, including from former Vice President Al Gore, who asked if he was a "climate denier." "When asked, are you a climate denier?' I should have said no," he said. But he said he did not plan to resign. Malpass also said the World Bank is taking a forceful leadership position on climate issues. Malpass was nominated to the position by former President Donald Trump in 2019, under the longstanding

Gujarat gets over Rs 2.8K-crore loan from World Bank for health care

The World Bank on Thursday said it has approved a USD 350 million (over Rs 2,832 crore) loan to Gujarat for spending towards public healthcare services, focussed specially on adolescent girls and disease surveillance. The World Bank's Executive Board of Directors approved the USD 350 million loan to the state, the multilateral funding agency said. The funding will come from World Bank arm International Bank of Reconstruction and Development (IBRD), carrying a maturity of 18 years including a grace period of 5.5 years. The loan will be utilised through the state government's Systems Reform Endeavours For Transformed Health Achievement In Gujarat (SRESTHA-G) Programme. It will enable more people access a wider range of high-quality health services, the World Bank said. Gujarat currently delivers seven health services to its citizens, including reproductive, maternal, newborn, child and adolescent health, communicable and non-communicable diseases (NCDs). The World Bank funding will

India to push big for multilateral reforms of WTO, IMF as G20 Chair

Focus will also be on climate justice, green financing

World Bank warns of global recession in 2023 amid economic slowdown

Interest rate hikes by central banks around the world could trigger a global recession in 2023, the World Bank has warned, media reports said.

World Bank sees rising risk of global recession in 2023 amid rate hikes

Synchronised interest rate hikes under way globally are likely to continue well into 2023, but might not be sufficient to bring inflation back down to levels seen before the pandemic, the bank said

Cloudy prospects for India's youth

The country's demographic dividend is dissipating, with seriously adverse consequences for young India

A flooded Bengaluru reminds us of Indian cities' lack of preparation

The money spent by the cities for flood is often far less than needed and since the buy-in from the public is weak, the effectiveness of the projects is shallow

World Bank, Assam govt discuss ways to fast track externally aided projects

Assam government and the World Bank have decided to fast track the completion of ongoing projects and expedite the approval procedure for those in the pipeline, an official release said. A meeting of delegates of World Bank and state governemt delegates chaired by Chief Minister Himanta Biswa Sarma was held here on Monday night during which the ongoing external aided projects (EAPs) and the proposed projects to be financed by the international financial institution was discussed, it said. ''The two sides have agreed upon fast-tracking the completion of the remaining portions of the ongoing projects and expediting the approval procedure for launching those on the pipeline,'' the release said. The World Bank delegation was led by its South Asia regional vice-president Martin Raiser and also included its India country director Auguste Tano Kouameheld. Sarma praised the World Bank for its wholehearted support in realising the growth potential of Assam and hoped that the relationship ..

A year into Taliban 2.0's rule, what has changed for Afghanistan?

A year into the Taliban's rule over Afghanistan, the nation's economy, which was already suffering over the past few decades due to permanent war, has only worsened

India at 75: Here's how much our per capita income has zoomed since 1950

Since 1950, India's per capita income (PCI) has jumped over 500 times. In 1950, it stood at Rs 265, and increased to Rs 1,28,829 in 2020-21

Infra sectors that boost growth

Apply proven policies in telecom and electricity to rev up the economy

Bangladesh seeks $2 billion from World Bank, ADB to boost forex reserves

The government wrote letters to the two lenders seeking $1 billion each from them to help the economy cope with the ripple effects of the war in Ukraine and energy price shocks

News updates: In race for monkeypox vaccines, experts see repeat of Covid

Live news updates: Critics fear a repeat of the catastrophic inequity problems seen during the coronavirus pandemic

Who is the new World Bank chief economist, Indermit Gill?

Indermit Gill is appointed the new Chief Economist of the World Bank Group and Senior Vice-President for Development Economics. Let's delve into Gill's contributions to development economics and more

Top Headlines: India working on monkeypox test kit; IDBI Bank divestment

Pakistan ramped up its imports from India despite Islamabad's ban on trade with its eastern neighbour in the April-May period. Read more on this in our top headlines

World Bank appoints Indian national Indermit Gill as chief economist

After Kaushik Basu, Gill will be the second Indian to serve as chief economist at the World Bank

Analysts slash India's GDP forecast amid high inflation, recession fears

On Thursday, ADB lowered India's growth forecast from 7.5 per cent to 7.2 per cent for FY23. Earlier on July 18, US-based Morgan Stanley also slashed India's GDP growth forecast to 7.2 per cent

Kerala civic bodies to have solid waste management engineers soon

Kerala will soon have Solid Waste Management (SWM) Engineers to handle the waste management issues and help the urban civic bodies to find lasting solutions to the growing menace of solid wastes

UNDP, World Bank sign deal for $20mn to support initiatives in Afghanistan

UNDP has signed a $20 million partnership agreement with the World Bank to support humanitarian, economic, and social development initiatives across all eight regions and 34 provinces of Afghanistan

US announces $1.7 bn in aid to Ukraine to pay health care workers

Viktor Liashko, Ukraine's minister of health, said paying health workers' salaries is becoming more difficult each month due to the overwhelming burden of war".