Page 4 - World Bank

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

World Bank not informed of Indus Waters Treaty suspension by India

India maintains there is no need to notify the World Bank, a past neutral broker of the 1960 Indus Waters Treaty, as Pakistan has already been informed

Private investment in India is still a worry: IMF's Krishna Srinivasan

The IMF on Tuesday pared down its FY26 growth forecast for India by 30 basis points to 6.2 per cent, citing escalating trade tensions and global uncertainty in its latest World Economic Outlook

Indus Waters Treaty in abeyance may hurt Pakistan's food security

The treaty that was signed between India and Pakistan in 1960, brokered by the World Bank

Bessent says IMF, World Bank need reform, sees chance for China deal

Treasury Secretary Scott Bessent leveled harsh criticism at the operations of the World Bank and the International Monetary Fund on Wednesday even as he tried to reassure nervous investors that the United States would maintain its global leadership role. America first does not mean America alone, he said in a speech to the Institute of International Finance, where he also promised support for the multilateral banks' core missions. "To the contrary, it is a call for deeper collaboration and mutual respect among trade partners. Although Bessent said the IMF and the World Bank are falling short, he did not call for the US to withdraw from the institutions, as some conservatives had advocated in a Project 2025 proposal created by the Heritage Foundation. He said the institutions serve critical roles in the international system. And the Trump administration is eager to work with them so long as they can stay true to their missions. It was the latest example of how Bessent, a former hed

Finance secretary Seth to lead Indian delegation as FM cuts short US visit

"Finance secretary and secretary DEA Ajay Seth shall represent India in the absence of FM," a senior finance ministry official said

World Bank trims India's FY26 growth forecast to 6.3% amid uncertainty

Lowers South Asia's FY25 outlook and urges region's nations to carry out reforms and revenue mobilisation

Centre releases over ₹4,200 crore to Andhra for Amaravati capital project

The Central Government has released over Rs 4,200 crore to Andhra Pradesh for Amaravati Capital Development project after it (centre) received the first disbursement of USD 205 million from the World Bank, a senior official has said. The World Bank and Asian Development Bank (ADB) together committed to fund USD 1600 Million (Rs 13,600 crore), USD 800 Million each, for Amaravati capital city phase-I development, while the Centre will be contributing remaining Rs 1,400 crore, out of the Rs 15,000 crore committed by the Central Government for phase-I of the development. According to the World Bank documents the project became effective on January 22 this year and the first disbursement of USD 205 million for program advance was done last month. "Out of this total Rs 15,000 crore, there is a sharing between the World Bank, ABD and the centre. The also may have given same amount. I do not know exactly how much the has given to the Government of India. The Centre has also released its ...

World Bank approves $300 mn loan for clean air project in Pakistan's Punjab

The World Bank has approved a USD 300 million loan for Pakistan to combat air pollution in its Punjab province, according to a media report on Sunday. The loan provided under the International Development Association (IDA) for the Punjab Clean Air Programme (PCAP) was approved by the World Bank Group's board of directors on Friday, the Dawn newspaper reported. The PCAP aims to strengthen air quality management and address environmental pollution in the province. It will support the Punjab government's Smog Mitigation Action Plan' (SMAP) in tackling the pressing issue of smog and air pollution with the launch of several comprehensive initiatives aimed at improving air quality and public health across the province. It will cover key sectors such as transport, agriculture, industry, energy, and municipal services, said a press release issued by the World Bank (WB) mission in Islamabad on Saturday. The Punjab Clean Air Programme supports the province's Smog Mitigation Action Plan and

India, World Bank may ink $500 million deal for rural housing project

"SHIELD is designed to make rural housing cooler, more energy efficient, and more disaster resilient," another government official said

NaBFID in talks with ADB, WB for counter-guarantees to infra projects

DFI's loan book expected to touch Rs 3 trillion by FY28

Absolute poverty virtually eliminated, says Niti Aayog's Arvind Virmani

Share of those falling under the 'vulnerable' category has dropped to 15 per cent from over 50 per cent 12 years ago

Absolute poverty almost eliminated from India: NITI Aayog member

Vulnerability will be eliminated in seven years

Datanomics: India needs to innovate, cut debt to become developed by 2047

From 2020-21 to 2024-25 (2020-2024 in case of the rest of the world), India's economic growth slowed to 5.4 per cent but was higher than any other major country including China

World Bank estimates $11 bn needed to rebuild Lebanon after Israel war

The cost of reconstruction and recovery for Lebanon following the 14-month Israel-Hezbollah war is estimated at $11 billion, the World Bank said in a report on Friday. The report by the World Bank's Lebanon Rapid Damage and Needs Assessment covered damage and losses in 10 sectors nationwide between October 8, 2023, and Dec. 20, 2024. It estimates that of the $11 billion in reconstruction and recovery needs, $3 billion to $5 billion will need to be publicly financed, including for infrastructure sectors. Private financing is required for about $6 billion to $8 billion of the costs, mostly in the housing, commerce, industry and tourism sectors. Hezbollah began firing rockets across the border on October 8, 2023, one day after a deadly Hamas-led incursion into southern Israel that sparked the war in Gaza. Israel responded with shelling and airstrikes in Lebanon, and the two sides became locked in an escalating conflict that became a full-blown war in late September. A US-brokered ...

India needs 7.8% growth for 22 yrs to be high-income by 2047: World Bank

Report highlights the need to cut import tariffs, simplify procedure to attract foreign investment

India needs 7.8% growth to become high income country, says World Bank

The report comes just hours before India is set to release gross domestic product figures for the last quarter

World Bank says India will continue to be fastest growing economy: PM Modi

Prime Minister Narendra Modi on Monday said the World Bank has expressed confidence that India will continue to be the world's fastest growing economy in the coming years. He was speaking after inaugurating the mega 'Invest Madhya Pradesh - Global Investors Summit-2025' in Bhopal to showcase the state's infinite possibilities for investors and industrialists. The World Bank had recently said in its Global Economic Prospects report that India will remain the fastest-growing major economy for next two years. Modi also said the Deregulation Commission will help create investment-friendly regulatory ecosystem in the states. India is emerging as the top supply chain for global aerospace firms, he said. Textile, tourism and technology sectors will generate crores of jobs in the years to come, Modi said. The PM also unveiled 18 new policies of Madhya Pradesh Government, aimed at attracting major investment in the BJP-ruled state. "With a strong talent pool and thriving industries, ...

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

MP to host its biennial Global Investors' Summit in Bhopal from Feb 24-25

Madhya Pradesh is luring investments by showcasing its thriving economy, world-class infrastructure, investor-friendly policies, and exclusive incentive programmes that make it a prime destination for investment opportunities. Strong commitment to creating a business-friendly environment and investment opportunities essentially make the state the 'Kumbh' of growth and development. It is rapidly emerging as a key hub for sectors such as tourism, pharmaceuticals, automobiles, mining, dairy, and food processing, according to the state government's investment pitch. Madhya Pradesh will on February 24-25 host its biennial Global Investors' Summit in Bhopal to attract investment and showcase the state's economic potential. The summit aims to highlight Madhya Pradesh's investment climate and industrial infrastructure, offering numerous opportunities for potential collaborations. The state has robust connectivity, with a National Highway network of 5,000+ kilometres and rail network with 5