One in six children living in extreme poverty: World Bank and UNICEF

News: World Bank Group and UN Children’s Fund(UNICEF) has released a report titled “Global Estimate of Children in Monetary Poverty”. Facts: Key Highlights from the report: An estimated 1 in 6 children globally lived in extreme poverty(surviving on less than $1.90 a day) before the pandemic and this is set to worsen significantly. Sub Saharan Africa… Continue reading One in six children living in extreme poverty: World Bank and UNICEF

Poverty and Shared Prosperity Report: World Bank

News: The World Bank has released its biennial Poverty and Shared Prosperity Report. Facts: About the report: The report aims to provide the latest and most accurate estimates on trends in global poverty and shared prosperity. Key takeaways: Global extreme poverty is expected to rise in 2020 for the first time in over 20 years… Continue reading Poverty and Shared Prosperity Report: World Bank

World Bank to give $750 million funding support to MSMEs

News: The World Bank’s Board of Executive Directors has approved a $750 million MSME Emergency Response program for India. Facts: MSME Emergency Response program: It aims to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs) which are severely impacted by the COVID-19 crisis. Impact: It will address the… Continue reading World Bank to give $750 million funding support to MSMEs

World Bank approves fresh funds for Ganga cleaning mission

News: The World Bank has approved a five-year loan to the Namami Ganga or the National Mission for Clean Ganga(NMCG) under its second National Ganga River Basin project. Facts: National Ganga River Basin project: It is a World Bank assisted project approved in the year 2011. Aim: To help rejuvenate the Ganga River by helping… Continue reading World Bank approves fresh funds for Ganga cleaning mission

World Bank’s STARS to improve school education in six States

News: The World Bank has approved an assistance of $500 million under ‘Strengthening Teaching-Learning and Results for States Program(STARS)’ for India. Facts: Aim: To improve quality and governance of school education in six Indian states. Coverage: Six states included in the project are Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha and Rajasthan. Implementation: The project… Continue reading World Bank’s STARS to improve school education in six States

India retains position as third largest economy in PPP

News: The World Bank has released the new Purchasing Power Parities (PPPs) for reference year 2017 under its International Comparison Program (ICP). Facts: International Comparison Program(ICP): It is the largest worldwide data-collection initiative managed by the World Bank under the guidance of the UN Statistical Commission(UNSC). Objective:  To produce purchasing power parities(PPPs) and comparable price… Continue reading India retains position as third largest economy in PPP

Economy to contract by 3.2% this fiscal, says World Bank

News: The World Bank has released the Global Economic Prospects (GEP) June 2020 report. Facts: Global Economic Prospects is a World Bank Group flagship report that is issued twice a year, in January and June. Aim: To examine global economic developments and prospects with a special focus on emerging markets and developing economies. Key Takeaways:… Continue reading Economy to contract by 3.2% this fiscal, says World Bank

India-World Bank: Social Protection Response Programme

News:The World Bank has announced a $1 billion assistance under the proposed Accelerating India’s COVID-19 Social Protection Response Programme. Facts: Aim: To support India’s efforts at providing social assistance to the poor and vulnerable households severely impacted by the COVID-19 pandemic. Implementation: It will be implemented by the Ministry of Finance, Government of India. Funding:… Continue reading India-World Bank: Social Protection Response Programme

Commodity Markets Outlook Report

News:World Bank has released its Commodity Markets Outlook report. Facts: The report is published every year in the month of April and October. Aim: To provide market analysis for major commodity groups such as energy, metals, agriculture, precious metals, oil, fertilizers among others. Additional Facts: World Bank: It is an International financial Institution that was… Continue reading Commodity Markets Outlook Report

Integrated Project for Source Sustainability and Climate Resilient Rain-Fed Agriculture

News:The Government of India, Himachal Pradesh and World Bank has signed a US$80 million loan agreement to implement Integrated Project for Source Sustainability and Climate Resilient Rain-Fed Agriculture in Himachal Pradesh. Facts: About the Project: Aim:To improve water management practices and increase agricultural productivity in selected Gram Panchayats in Himachal Pradesh. Additional information: Other World… Continue reading Integrated Project for Source Sustainability and Climate Resilient Rain-Fed Agriculture