Ajay Banga takes over as World Bank president
Indian-American business executive Ajay Banga assumed charge as the World Bank’s new president. Mr. Banga, 63, will be the first Indian American to lead the organization. He was nominated for the office.
World Bank raises global growth forecast
The World Bank revised its 2023 global growth forecast slightly upwards to 2 percent from a January forecast of 1.7 percent on the improved outlook for China’s economy. China was projected to.
Inflation in Pakistan to reach 29.5% by June: World Bank
The World Bank predicted that inflation in Pakistan would be at a high level of 29.5% by June. It also said that there was a delay in adopting a strict fiscal policy..
“Global economic growth to slump to three-decade low”: World Bank
According to the World Bank, the global economy is set to reach its “speed limit” and slump to a three-decade low by 2030. Systemic banking crises and recessions are expected to have.
World Bank delays approval of loan for Pakistan
Islamabad: World Bank on Wednesday delayed the approval of two loans worth $ 1.1 billion for Pakistan until the next fiscal year. The Bank had earlier earmarked $ 450 million for a.
World Bank approves aid for flood rehabilitation in Sindh
On Tuesday, the World Bank approved $1.692 billion in financing for five projects to support people living in flood-affected areas of Sindh. “Beyond the rehabilitation and reconstruction of damaged houses and infrastructure,.
“Climate change may cut Pakistan’s GDP by 18pc to 20pc”: World Bank
According to a report recently published by the World Bank, Pakistan’s annual economic output could see a cut of 18 percent to 20pc by 2050 due to climate change risks. “The combined.
Natural disasters ‘major threat’: World Bank
Islamabad: On Thursday, the World Bank described natural disasters including floods caused by climate change as a major threat to Pakistan’s economy. World Bank’s Country Climate Development Report also expressed the fear.
World Bank to assist Pakistan in infrastructure development
According to a press release issued by the Power Division on Monday, the World Bank (WB) agreed to give more than $3 billion to Pakistan for infrastructure development in the energy sector..
‘China needs $17 trillion to meet climate goals’: World Bank
Washington: Oct 12, a World Bank report laid bare that China needed up to $17 trillion for green infrastructure and technology in the power and transport sectors to reach net-zero emissions by.
‘Poverty eradication by 2030 unlikely to be met’: World Bank
Washington: On October 5, the World Bank said in a new report that after the COVID-19 pandemic and the war in Ukraine, the world was unlikely to meet a longstanding goal of.
World Bank calls for more reforms to improve legal equality for women in Pakistan
It emerged that the new World Bank report, published ahead of International Women’s Day (March 8), implied that Pakistan should bring more reforms to improve legal equality for women in the country..
World Bank relocates staff from Ukraine
Washington: On Feb 14, the World Bank temporarily relocated staff from Ukraine. It also has suspended staff missions to the country due to the tensions on the border between Russia and Ukraine..
World Bank lauds PEF’s ‘low-cost model’
Lahore: It emerged that the World Bank in its third party report on Punjab Education Foundation (PEF) has termed the institution a ‘low-cost model’ for education buildup. The report notes that per.
Pakistan, World Bank sign MoU to tackle climate change
Islamabad: On Jan 4, The Ministry of Climate Change and the World Bank signed a memorandum of understanding (MoU) at a ceremony in Islamabad in the presence of PM Imran Khan. According.
Recovery of petroleum organizations’ profits
Following the re-opening of the global economy, the business environment began to improve in the second part of the financial year. This was accompanied by an increase in demand for petrol and.
‘Pakistan’s talks with IMF have not failed’, Shaukat Tarin insists
According to Finance Minister Shaukat Tarin, the perception that Pakistan’s negotiations with the International Monetary Fund (IMF) have failed is untrue.
Pakistan is still negotiating a settlement with the IMF, according to the.
World Bank reduces Pakistan’s GDP growth prospects
The World Bank (WB) has reduced Pakistan’s GDP growth forecast for the current fiscal year to 3.4 percent as the government refocuses on reducing external pressures and addressing long-standing fiscal concerns.
The World.