Three dark clouds over the Bretton Woods twins

Synopsis: In light of the latest issues of the pandemic, economic recovery etc., how Bretton Woods can remain relevant. Introduction Time and again, Bretton Woods institutions (IMF and World Bank) have been accused of bias towards the West, more specifically with regard to the USA. Recently, the ‘Fund-Bank’ annual meeting discussed the issues plaguing the… Continue reading Three dark clouds over the Bretton Woods twins

There’s an urgent need to clean up the World Bank and IMF

Synopsis: Wrongdoings of WB and IMF, unsuitability of heads of these institutions, various steps that these institutions need to take to maintain their credibility and legitimacy  Introduction  Head of the World Bank and IMF are selected under the dual monopoly selection procedure wherein only an American can head the World Bank and only a European can head the… Continue reading There’s an urgent need to clean up the World Bank and IMF

The end of Ease of Doing Business Rankings: Reasons and implications – Explained, pointwise

For 7PM Editorial Archives click HERE → Introduction On September 16, the World Bank Group scrapped its flagship publication, the ‘Doing Business’ report. This report publishes the influential annual ranking of countries on the Ease of Doing Business (EDB) index. The sudden announcement that the World Bank would end its most famous report, sent some shock waves through the business… Continue reading The end of Ease of Doing Business Rankings: Reasons and implications – Explained, pointwise

World Bank discontinues Doing Business rankings

What is the News? The World Bank Group has recently decided to discontinue publication of its ‘Doing Business’ rankings. About the Doing Business Report Doing Business report measures regulations across the 190 economies in 12 business regulatory areas to assess the business environment in each economy. Read more: World Bank’s Doing Business Report What led to… Continue reading World Bank discontinues Doing Business rankings

Government signs US$ 250 Million Loan Agreement for Second phase of Dam Rehabilitation & Improvement Project (DRIP)

SOURCE : PIB What Is The News? In order to enhance water security in the country and support sustainable development, the Government of India today signed a $250 million loan agreement with World Bank for the Second Phase of Dam Rehabilitation and Improvement Project (DRIP Phase II) to make existing dams and communities safe and… Continue reading Government signs US$ 250 Million Loan Agreement for Second phase of Dam Rehabilitation & Improvement Project (DRIP)

World Bank’s Global Economic Prospects (GEP)

Source: Livemint Syllabus:  Indian Economy and issues relating to planning, mobilization, of resources Synopsis: The World Bank releases a Global Economic Prospects (GEP) report twice a year. It is the most important source for evaluating the current and future outlook for emerging markets and developing economies (EMDEs). The recently released edition is significant because of the… Continue reading World Bank’s Global Economic Prospects (GEP)

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

World Bank:Global Economic Prospects report

News:The World Bank has released the 2020 Global Economic Prospects report. Facts: Key takeaways from the report: Report on Global and Regional Growth: The Global growth is set to rise by 2.5% this year from 2.4% in 2019 as trade and investment gradually recover. The growth among advanced economies as a group is anticipated to… Continue reading World Bank:Global Economic Prospects report

Atal Bhujal Yojana(ABY)

News:The World Bank-funded Atal Bhujal Yojana(ABHY) is still waiting for the Union Cabinet’s approval more than a year after the World Bank board approved it in June 2018. Facts: About Atal Bhujal Yojana: Atal Bhujal Yojana is a 6000 crore World Bank assisted Central Sector Scheme of the Ministry of Water Resources, River Development and… Continue reading Atal Bhujal Yojana(ABY)

Doing Business Report

News:The World Bank has released its doing business report 2020. Facts: About Doing Business Report: Doing Business report measures regulations across the 190 economies in 12 business regulatory areas to assess the business environment in each economy. The ten of these indicators were used to estimate an ease of doing business score this year. The… Continue reading Doing Business Report

World Bank Cuts India’s Growth Forecast To 6%

News:The World Bank has reduced India’s economic growth forecast in its South Asia Economic Focus report. Facts: Key takeaways from the report: The World Bank has projected India’s gross domestic product growth at 6% in the fiscal year 2020 compared with 7.5% forecast in April,2019. However,the bank also expects India’s growth to gradually recover to… Continue reading World Bank Cuts India’s Growth Forecast To 6%

Worsening water quality reducing economic growth by a third in some countries: World Bank

The World Bank has released a report on the relation between water pollution and economic growth. The report relied on the biggest-ever database assembled on global water quality using monitoring stations, satellite data and machine learning models. According to the report,poor water quality is affecting economic growth and worsening health conditions.It says that a lack… Continue reading Worsening water quality reducing economic growth by a third in some countries: World Bank

First Resilient Kerala Program

The Government of India,the Government of Kerala and the World Bank has signed a Loan Agreement of $250 million for the First Resilient Kerala Program. The new programme is part of the Government of India’s support to Kerala’s ‘Rebuild Kerala Development Programme’ aimed at building a green and resilient Kerala. This partnership will identify key… Continue reading First Resilient Kerala Program

India’s Agreement with the World Bank to Eliminate TB

India has signed a Loan Agreement worth US$ 400 Million with the World Bank to help treat and Eliminate Tuberculosis from India.The program will cover nine states in the country. The World Bank supported program will support the government’s National Strategic Plan to end TB in India by 2025. It will do so by helping… Continue reading India’s Agreement with the World Bank to Eliminate TB

TN gets $287-m World Bank loan for healthcare reform

The central government,Tamil Nadu and the World Bank have signed a $287 million loan agreement for the state’s Health System Reform Programme. The program aims to (a)improve the quality of health care (b)reduce the burden of non-communicable diseases(NCDs) and (c)fill equity gaps in reproductive and child health services. The Tamil Nadu Health System Reform Program… Continue reading TN gets $287-m World Bank loan for healthcare reform

Global growth to slow in 2019, says World Bank

The World Bank has released its Global Economic Prospects report, 2019.The report has forecasted that the World economy will expand 2.6% in 2019 compared with a projection of 2.9% it made in January, 2019. The growth was downgraded due to (a)trade conflicts (b)financial strains (c)unexpectedly sharp slowdowns in wealthier countries and (d)build-up of government debt.… Continue reading Global growth to slow in 2019, says World Bank

$150 mn World Bank loan likely for Rebuild Kerala

The World Bank is likely to provide development policy loan(DPL) of $150 million for the Rebuild Kerala initiative. The DPL loan is to be equally provided by the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). Since the DPL is not a project-specific aid, the World Bank authorities are likely… Continue reading $150 mn World Bank loan likely for Rebuild Kerala

U.S. Treasury official David Malpass named World Bank President

David Malpass has been unanimously elected as the new President of the World Bank.He will be the 13th President and will start his five year term from April 9,2019.He was nominated by the US president.David Malpass was a US government official and economic analyst.He has served as the Under Secretary of the Treasury for International… Continue reading U.S. Treasury official David Malpass named World Bank President