Page 8 - World Bank

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

India needs to ramp up structural reforms: World Bank Chief Economist Gill

Gill noted that middle-income countries, including India, are more prone to slowdowns compared to low-income or high-income countries

HSBC, WB's IFC launch $1 bn trade finance programme for emerging markets

The deal aims to support cross-border trade and bolster exports in critical industries

Myanmar's economy likely to shrink as floods compound crisis: World Bank

In June, the bank had projected Myanmar's economy would grow 1 per cent during the current fiscal year, which ends in March 2025, but warned of increasing poverty and escalating violence

World Bank gets $100 billion replenishment of fund for poorest countries

World Bank made the announcement today in Seoul at a pledging conference for the International Development Association, which provides grants and very low-interest loans to 78 low-income countries

World Bank approves $188 mn loan to boost growth in Maharashtra's districts

The World Bank has approved a USD 188.28-million loan to stimulate economic growth in the Indian state of Maharashtra, especially in the lagging districts, a media release said. The USD188.28 million Maharashtra Strengthening Institutional Capabilities in districts for enabling growth operation will support district planning and growth strategies, the bank said in a statement. Investments under the operation will equip districts with the necessary data, funds, and expertise to maximize the value of public money employed for driving growth and job creation. It will also enhance private sector participation by improving e-government services for businesses in districts, especially in the tourism sector, it said. By providing well-articulated investments in institutional capability and coordination at the district level, the program will enhance evidence-based planning and policymaking, efficient public sector interface with the private sector, and improved service delivery to the pub

Punjab CM seeks financial support from World Bank to drive growth

The World Bank team held separate meetings with Bhagwant Mann and Haryana Chief Minister Nayab Singh Saini

Tamil Nadu focuses on EV revolution, ropes in World Bank to draw roadmap

This initiative coincides with the World Bank's broader efforts to support India's low-carbon transition

US President Biden announces $4 billion to replenish World Bank's IDA

Established in 1960, IDA complements the World Bank's original lending arm, the International Bank for Reconstruction and Development (IBRD) and helps low-income countries

Biden pledges record $4 billion to World Bank fund for poorest nations

The World Bank's IDA fund, which provides mainly grants and very low interest loans to the poorest countries, is replenished every three years, and a pledging conference is scheduled for Dec. 5-6

News updates: Had Cong given priority to rural India, we would have less poverty, says Nitin Gadkari

Catch all the latest news updates from around the world here

UP govt holds talks with World Bank to boost agri, rural enterprise

The Uttar Pradesh government, the Department of Economic Affairs (DEA) and the World Bank on Friday held negotiations for the Rs 3,903 crore Uttar Pradesh Agricultural Growth and Rural Enterprise Ecosystem Strengthening project. The negotiations were held in New Delhi with Chief Secretary Manoj Kumar Singh representing the state government, according to a statement here. The six-year project aims to revitalise the state's agriculture and allied sectors, enhance productivity and link smallholder farmers to high-value commodity clusters. Singh outlined the project's pivotal role in advancing the state's vision to achieve a trillion-dollar economy by 2030, it said. He highlighted that the project will support high-value crop clusters and establish a stronger fisheries ecosystem, with particular focus on the state's eastern and Bundelkhand regions, it added. The project will also create a digital agriculture platform to provide real-time insights to farmers, helping optimise resources

IFC commits $400 mn to Bajaj Finance to help boost finance, empower women

IFC, a member of the World Bank Group, has committed USD 400 million (about Rs 3,300 crore) to help expand access to finance for customers opting to buy EVs and energy efficient consumer goods as well as support women-owned microenterprises. This USD 400 million support is part of the USD 1 billion fundraising exercise by Bajaj Finance Ltd (BFL). The funding aims to increase competitiveness in the climate finance market, support the country's climate goals, and promote financial inclusion, a joint statement said on Wednesday. IFC's USD 400 million loan will enable BFL to expand access to finance for customers opting to buy EVs, including two-wheelers, three-wheelers and four-wheelers, and strengthen its presence in the energy efficient consumer goods (EECG) space. "Accelerating climate financing is crucial for India to meet its net-zero goals. IFC's investment in Bajaj Finance will boost market competition, inspiring other NBFCs and investors to expand their financing for ...

Economic leaders face era of industrial policy threatening growth prospects

Policymakers brace for more protectionism and demise of 'neoliberalism' if Trump is re-elected in the US