World Bank Approves $1.5 Billion Loan for Low-Carbon Energy Sector The World Bank has sanctioned a substantial loan of $1.5 billion to support the low-carbon energy sector. This funding is set to propel the transition towards sustainable energy solutions, emphasizing renewable energy sources and energy efficiency initiatives. Focus on Renewable Energy The primary objective of…
World Bank Approves $1.5 Billion Loan to Support India’s Green Hydrogen Push The World Bank has recently approved a significant financial package amounting to $1.5 billion to bolster India’s ambitious green hydrogen initiative. This landmark decision underscores the global recognition of India’s commitment to sustainable energy solutions and marks a pivotal moment in the country’s…
Rakesh Mohan Appointed to World Bank Economic Advisory Panel In a recent development, Rakesh Mohan, an eminent economist and former Deputy Governor of the Reserve Bank of India (RBI), has been appointed to the Economic Advisory Panel of the World Bank. This appointment comes as a recognition of Mohan’s vast experience and expertise in the…
World Bank President Ajay Banga Named in 2023 List of Great Immigrants” Ajay Banga, the esteemed President of the World Bank, has garnered yet another significant recognition. In the year 2023, he has been honored by being included in the esteemed list of Great Immigrants. This prestigious acknowledgment not only highlights Banga’s remarkable achievements but…
Ajay Banga Confirmed as Next President of World Bank after an extensive selection process Ajay Banga, an Indian-American businessman, has been confirmed as the next President of the World Bank. This decision was made after an extensive selection process that involved several rounds of interviews and assessments. With this appointment, Banga becomes the first person…
India Jumps 6 Places on World Bank’s Logistic Performance Index, Ranks 38 India has made significant progress in logistics performance, according to the World Bank’s 2022 Logistics Performance Index (LPI). India has jumped six spots to rank 38th among 167 countries surveyed, up from 44th in 2018. India’s score has also improved from 57.06 to…
World Bank assistance Odisha : World Bank approves $100 million to increase social protection and disaster resilience in Odisha The World Bank has approved a $100 million loan to the state of Odisha in India, to improve social protection programs and enhance the state’s resilience to natural disasters. The project, titled the “Odisha Disaster Resilience…
World Bank warns of a “Lost Decade” for the Global Economy The World Bank has issued a warning that the global economy is at risk of experiencing a “lost decade” due to the COVID-19 pandemic. According to the World Bank, the pandemic has caused a severe and widespread economic contraction, which has led to significant…
India-World Bank Signs Loan Agreement for Construction of Green National Highway Corridors Project in 4 States The Government of India, the National Highways Authority of India (NHAI), and the World Bank have signed a loan agreement for the construction of the Green National Highway Corridors Project in four Indian states. The loan agreement has been…
World Bank Chief : World Bank Chief David Malpass to Step Down Early The World Bank President, David Malpass, announced his resignation from the position, effective October 1, 2022. This decision comes two years ahead of the end of his five-year term. Malpass was appointed as the President of the World Bank Group in April…
