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World Bank introduces innovative $100 million plastic waste reduction-linked bond to tackle plastic pollution

World Bank introduces innovative $100 million plastic waste reduction-linked bond to tackle plastic pollution

Thu, Jan 25, 2024

Citi served as the Lead Manager for this pioneering outcome bond, mobilizing private capital to support projects with positive climate and development impacts.

World Bank raises GBP 1.5 billion in 5-year sustainable development bond

World Bank raises GBP 1.5 billion in 5-year sustainable development bond

Fri, Jan 05, 2024

Jorge Familiar, Vice President and Treasurer of the World Bank, expressed satisfaction with the strong start to the new year. Familiar emphasized the diverse range of currencies and tenors in bonds supporting the World Bank's sustainable development mandate.

SBI signs $165 million LoC with World Bank for rooftop solar projects

SBI signs $165 million LoC with World Bank for rooftop solar projects

Fri, Dec 22, 2023

The LoC is for supporting grid-connected rooftop Solar PV Projects in residential and institutional sectors, SBI said in a regulatory filing.

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COP28 high-level roundtable emphasizes advancing high-integrity carbon markets

COP28 high-level roundtable emphasizes advancing high-integrity carbon markets

Tue, Dec 05, 2023

The roundtable underscored the importance of carbon pricing schemes, compliance markets, and high-integrity voluntary carbon markets (VCMs) in the global net-zero transition.

What IMF Executive Director KV Subramanian Said On Unemployment in India?

What IMF Executive Director KV Subramanian Said On Unemployment in India?

Tue, Nov 07, 2023

An Executive Director at the International Monetary Fund, Krishnamurthy V Subramanian explained why the current unemployment rate is at a five-year low. According to Subramanian If you go by the reliable Periodic Labour Force Survey data put out by the NSSO, it is absolutely clear that both in quantity and in quality, the employment situation had improved before the pandemic and has also improved since then. It is a fact that during the lockdown and during the second wave, the employment situation did worsen and this is something that is very clearly shown in the PLFS data which further enhances the trustworthiness of the PLFS data.

World Bank poised to host climate loss and damage fund, despite concerns

World Bank poised to host climate loss and damage fund, despite concerns

Sun, Nov 05, 2023

A special U.N. committee tasked with implementing the fund met for a fifth time in Abu Dhabi this week - following a deadlock in Egypt last month - to finalise recommendations that will be put to governments when they meet for the annual climate summit COP28 in Dubai in less than four weeks' time. The goal is to get the fund up and running by 2024.

India is moving forward with pledge of abandoning mentality of slavery: PM Modi in Gujarat

India is moving forward with pledge of abandoning mentality of slavery: PM Modi in Gujarat

Tue, Oct 31, 2023

Referring to the pledge of moving forward and abandoning the mentality of slavery, Prime Minister Narendra Modi on Tuesday said that "India is growing as well as preserving its heritage."

Global commodity markets brace for potential 'Dual Shock' from Middle East conflict: World Bank

Global commodity markets brace for potential 'Dual Shock' from Middle East conflict: World Bank

Tue, Oct 31, 2023

A recent report by the World Bank's Commodity Markets Outlook raises concerns about the global commodity markets, indicating that an escalation of the ongoing conflict in the Middle East, coupled with disruptions caused by Russia's invasion of Ukraine, could lead to unforeseen challenges in the world's commodities.

World Bank's Banga says geopolitics poses biggest, but not only, risk to world economy

World Bank's Banga says geopolitics poses biggest, but not only, risk to world economy

Tue, Oct 24, 2023

Banga said that while everything in the developed world looks better than had been expected some time ago, "I think that we're at a very dangerous juncture."

World Bank debars HTC construction and Advanced Technology in fraud case

World Bank debars HTC construction and Advanced Technology in fraud case

Thu, Oct 19, 2023

The World Bank has taken a decisive step in debarring the HTC Construction and Advanced Technology Joint Stock Company, a Vietnam-based construction firm, for a period of 41 months.

Multilateral Development Banks should work to increase private financing by USD 500 billion by 2030: Expert group report

Multilateral Development Banks should work to increase private financing by USD 500 billion by 2030: Expert group report

Mon, Oct 16, 2023

The independent expert group on multilateral development banks set up under India G20 Presidency, called for a better, bolder, and bigger MDB system to provide long-term finance to meet physical and social infrastructure needs globally.

World Bank and Japan collaborate to boost mineral investments and clean energy jobs for developing countries

World Bank and Japan collaborate to boost mineral investments and clean energy jobs for developing countries

Thu, Oct 12, 2023

The Resilient and Inclusive Supply-chain Enhancement, known as the RISE initiative, will focus on assisting emerging markets and developing countries in expanding their clean-energy product manufacturing and increasing their involvement in the minerals industry.

Finance Minister Nirmala Sitharaman to embark on 6-day visit to Morocco to attend World Bank-IMF meet, G20 FMCBG

Finance Minister Nirmala Sitharaman to embark on 6-day visit to Morocco to attend World Bank-IMF meet, G20 FMCBG

Mon, Oct 09, 2023

During the visit the finance minister and RBI Governor Shaktikanta Das will co-chair the fourth G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.

World Bank estimates Indian economy to grow at 6.3% in FY24; predicts service sector activity to grow at 7.4%

World Bank estimates Indian economy to grow at 6.3% in FY24; predicts service sector activity to grow at 7.4%

Tue, Oct 03, 2023

The bank said that the expected moderation is mainly due to challenging external conditions and waning pent-up demand.

World Bank retains Cambodia's growth forecast at 5.5% in 2023

World Bank retains Cambodia's growth forecast at 5.5% in 2023

Mon, Oct 02, 2023

Mattoo said foreign direct investment (FDI) inflows will likely be boosted by the new law on investment and newly ratified free trade agreements.

World Bank approves $365 million for advancing girls, women empowerment in Western, Central Africa

World Bank approves $365 million for advancing girls, women empowerment in Western, Central Africa

Sat, Sep 30, 2023

The Sub-Saharan Africa Women's Empowerment and Demographic Dividend Plus project (SWEDD+) has the potential to directly benefit over 2 million vulnerable girls aged between ten to 19 years old.

World Bank to fund Odisha to increase social protection, disaster resilience

World Bank to fund Odisha to increase social protection, disaster resilience

Fri, Sep 15, 2023

A meeting was held between the Odisha government and a World Bank team here on Wednesday under the chairmanship of development commissioner Anu Garg on the Externally Aided Project (EAP)-Odisha State Capability and Resilient Growth Programme.

Maharashtra government seeks World Bank's assistance for upgrading infrastructure and capacity building

Maharashtra government seeks World Bank's assistance for upgrading infrastructure and capacity building

Mon, Jul 31, 2023

Maharashtra Chief Minister Eknath Shinde has sought the World Bank's assistance for upgrading infrastructure and capacity building in the state.

World Bank to provide assessment of damages due to Himachal floods

World Bank to provide assessment of damages due to Himachal floods

Fri, Jul 28, 2023

The World Bank has offered to conduct an assessment in collaboration with the Global Facility for Disaster Reduction and Recovery (GFDRR) to quantify losses suffered in various sectors such as roads, power, water supply, housing, public buildings, irrigation, agriculture, horticulture, livestock, ecological services.

World economy in a difficult place but not destined to stay there - World Bank chief

World economy in a difficult place but not destined to stay there - World Bank chief

Tue, Jul 18, 2023

The world economy is in a difficult place but it is not destined to stay there, World Bank President Ajay Banga said on Monday.

Sri Lanka receives $250 million as first tranche of World Bank budgetary support

Sri Lanka receives $250 million as first tranche of World Bank budgetary support

Tue, Jul 04, 2023

Sri Lanka has received USD 250 million as the first tranche out of a USD 500 million World Bank budgetary and welfare support, an official statement said on Tuesday, as part of the efforts to revive the bankrupt island nation's economy.

World Bank approves $1.5 billion financing for India's low-carbon transition

World Bank approves $1.5 billion financing for India's low-carbon transition

Fri, Jun 30, 2023

The World Bank has approved USD 1.5 billion in financing to accelerate India's low-carbon energy infrastructure. In a release Friday, World Bank said the financing will help India promote low-carbon energy by scaling up renewable energy and developing green hydrogen, among others.

World Bank approves $700mn to help Sri Lanka implement foundational reforms

World Bank approves $700mn to help Sri Lanka implement foundational reforms

Thu, Jun 29, 2023

The World Bank Group said it has approved $700 million in financing for two operations to help Sri Lanka implement foundational reforms as the island nation is trying to overcome its worst-ever economic crisis.

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