Page 5 - World Bank

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

PM Gati Shakti, logistics policy to push India's World Bank ranking: Report

Strong infrastructure development through initiatives like PM Gati Shakti and National Logistics Policy will help India find a place among top 25 nations on the World Bank Logistics Performance Index by 2030, a report said. India ranks 38th in the World Bank Logistics Performance Index (LPI) out of 139 countries and aims to be in the top 25 by 2030. The study conducted by Global exhibitor Messe Stuttgart India in partnership with EAC International Consulting was released on Tuesday ahead the international logistics exhibition LogiMAT India 2025 which is scheduled from February 13-15 at the Bombay Exhibition Centre, Mumbai. The report highlights that strong infrastructure development through initiatives like PM Gati Shakti and the National Logistics Policy are going to be the key drivers to achieve this (India's aim to be in top 25 by 2030 in LPI). The Indian freight and logistics market is projected to grow at an annual rate of 8.8 per cent to reach USD 484.43 billion by 2029, up f

India-Pak rift on Indus Water Treaty: WB's neutral expert backs New Delhi

A World Bank-appointed neutral expert has backed New Delhi's position on the framework to resolve certain disputes between India and Pakistan on Kishenganga and Ratle hydroelectric projects. While India has been pressing for resolution of the issues by the neutral expert as mandated under the Indus Water Treaty (IWT) between the two countries, Pakistan has been backing the Permanent Court of Arbitration in The Hague to resolve them. India and Pakistan signed IWT on September 19, 1960 after nine years of negotiations with a sole aim to manage issues relating to cross-border rivers. India welcomed the ruling by the neutral expert, International Commission of Large Dams president Michel Lino. On Monday, Lino ruled that he is competent to render a decision on the "merits of the Points of Difference" between India and Pakistan on the two hydropower projects. "India welcomes the decision given by the Neutral Expert under Paragraph 7 of Annexure F to the Indus Waters Treaty, 1960," the .

Global economy growing but not fast enough to help ease poverty: World Bank

The global economy is growing steadily in the face of war, protectionist trade policies and high interest rates. It just isn't growing fast enough to bring relief to the world's poorest, the World Bank said Thursday in its latest assessment of the global economy. The bank expects the world economy to expand 2.7 per cent in 2025 and again in 2026. It's a remarkably consistent performance matching 2023 and 2024 but also a lackluster one. Growth is running 0.4 percentage points below the 2010-2019 average. The slump reflects lingering damage from the adverse shocks of recent years,' including COVID-19 and Russia's invasion of Ukraine. The bank's latest Global Economics Prospects report, which comes out in January and June, did offer some good news. Global inflation, which was running over 8 per cent two years ago, is expected to slow to an average of 2.7 per cent in 2025 and 2026, close to many central bank targets. The World Bank, comprising 189 member nations, seeks to reduce pover

India to remain fastest-growing large economy in FY26, FY27: World Bank

The global economy is projected to expand by 2.7 per cent in both 2025 and 2026, the same pace as in 2024, as inflation and interest rates decline gradually

World Bank to approve $20 billion lending package for Pakistan: Report

The World Bank is set to approve a USD 20 billion indicative lending package for Pakistan a pioneering 10-year initiative to protect its funded projects from political transitions and focus on six targeted areas, according to a media report. The programme, titled "Pakistan Country Partnership Framework 2025-35", aims to improve social indicators in the most neglected but important areas, The Express Tribune newspaper reported, citing official documents. It will focus on reducing child stunting, combating learning poverty, enhancing climate resilience, decarbonising the environment, expanding fiscal space, and boosting private investment to improve productivity. These areas have broad support across the political spectrum and are expected to remain unaffected by government changes during the 2025-2035 period, which is anticipated to include at least three general elections. This 'Country Partnership Framework' is scheduled to be approved by the World Bank board on January 14, ...

CCI allows IFC, ADB, DEC to acquire stake in Fourth Partner Energy

Fair trade regulator CCI on Tuesday cleared the World Bank's IFC, Asian Development Bank (ADB) and German government's DEG proposal to acquire a stake in Fourth Partner Energy. IFC -- a member of the World Bank Group -- is the largest global development institution focused on the private sector in emerging markets. "Commission approves the acquisition of certain shareholding of Fourth Partner Energy Pvt Ltd jointly by International Finance Corporation, Asian Development Bank and DEG - Deutsche Investitions - und Entwicklungsgesellschaft mbH," the regulator said in a post on X. Fourth Partner Energy Ltd (FEPL) is India's leading renewable energy company focusing on building and financing renewable energy projects. In August, global impact investors IFC, ADB and DEG announced an investment of USD 275 million into India's leading renewable energy solutions platform FPEL. The consortium's investment will infuse capital to fund FPEL's business expansion plans which include a target ...

India may face challenges on a few parameters in WB's B-Ready report: GTRI

India may face challenges in achieving good scores on parameters like business entry, labour regulations, and international trade in the World Bank's Business Ready report, according to think tank GTRI. The Global Trade Research Initiative (GTRI) said as India is preparing for its inclusion in the B-READY framework, its focus should be on leveraging global insights while championing local reforms. Business Ready (B-READY) is the World Bank's new flagship report benchmarking the business environment and investment climate in most economies worldwide. The report assesses the regulatory framework and public services directed at firms, and the efficiency with which regulatory framework and public services are combined in practice. It is replacing the World Bank Group's earlier Doing Business index. In 2020, the World Bank decided to pause the publication of its Doing Business report following a number of irregularities regarding changes to data in previous reports. "In Business Entry,

India, China to Germany and UK: How major economies performed in 2024

While India and US have optimistic outlooks going into 2025, Germany and UK may see sluggish growth

World Bank raises China's GDP forecast for 2024, 2025; adds some warnings

Thanks to the recent policy easing and near-term export strength, the World Bank sees China's gross domestic product growth at 4.9 per cent this year, up from its June forecast of 4.8 per cent

World Bank approves $800 million loan for Amaravati Development Programme

The World Bank's Board of Executive Directors has approved USD 800 million Amaravati Integrated Urban Development Program for building Andhra Pradesh's greenfield capital city Amaravati, the international development said on Friday. The Bretton Woods institution's Board of Executive Directors met in Washington, USA on Thursday and approved the loan. "The World Bank's Board of Executive Directors yesterday approved the USD 800 million Amaravati Integrated Urban Development Program aimed at establishing the city as a well-managed, climate-resilient growth center in Andhra Pradesh that generates jobs and improves the lives of its current and future residents, especially the most vulnerable," a World Bank press release said. According to the World Bank, the Government of India requested the USD 800 mn loan to develop Amaravati as an economic hub and the state capital of Andhra Pradesh. The loan has a final maturity period of 29 years, including a grace period of six years, said the Wor

Bangladesh receives $1.16 bn World Bank financing for inclusive development

These new financing will bring to the people of Bangladesh essential services such as health and water

Reassessing Nehruvian policies: Growth, education, and social change

The policies of the first decade-and-a half of planned development are better characterised as Nehruvian Humanism

China look forward to $1 billion investment in Pakistan's healthcare sector

President Zardari met with a delegation led by the Chinese Consul General Yang Yundong at Bilawal House in Karachi, where he called for greater Chinese investment in Pakistan's various sectors