The global economy is on track to shrink by 5.2 per cent this year amid the COVID-19 pandemic, the deepest recession since the Second World War, the World Bank Group said in its latest Global Economic Prospects.
The global economy, which has plunged into a severe contraction, will shrink by 5.2 per cent this year due to the massive shock of the coronavirus pandemic and the shutdown measures to contain it, the World Bank said on Monday.
India's economy will shrink by 3.2 per cent in the current fiscal, the World Bank said on Monday as it joined a chorus of international agencies that are forecasting a contraction in growth rate due to the coronavirus lockdown halting economic activity.
Digital education for women is not just important, it is a must. Especially now, when we find ourselves confined indoors due to the coronavirus pandemic, it becomes all the more crucial for one to know how to go about life when social distancing is highly advisable. To this regard, some of the worst impacted sections of the society include those who live in rural India and have neither the society's backing to prosper nor the technological or financial resources to be self-reliant (or as we like to term it these days -- Atmanirbhar).
The World Bank has restored Pakistan’s budgetary support after four years and approved a policy loan of USD 500 million to help the cash-strapped country mitigate adverse impact of the coronavirus pandemic, according to a media report.
Abhas Jha, an Indian economist, has been appointed by the World Bank to a key position on climate change and disaster management in South Asia, the global lender said. Jha's appointment comes at a time when Cyclone Amphan has badly hit West Bengal, Orissa in India and Bangladesh.
The coronavirus pandemic is expected to put over 60 million people into extreme poverty globally, the World Bank has said as it announced emergency operations worth USD 160 billion in 100 developing countries to fight the deadly virus.
The World Bank has announced $1 billion social protection package for India in wake of the coronavirus pandemic that has halted life across the country. The package is linked to Govt of India programmes.
The World Bank has announced $1 billion social protection package for India in wake of the coronavirus pandemic that has halted life across the country. The package is linked to Govt of India programmes.
The COVID-19 pandemic has threatened to make education outcomes worse and without aggressive policy, the virus outbreak across the globe will have immediate costs on both learning and health of children and youth, according to the World Bank's education team.
To enhance and safeguard the coastal and marine resources, the World Bank on Tuesday approved USD 400 million multi-year financial support to India.
Global remittances are projected to decline by about 20 percent this year due to the COVID-19-induced economic crisis, the World Bank Group (WBG) said.
The nationwide lockdown in India which started about a month ago has impacted nearly 40 million internal migrants, the World Bank has said.
According to a report, the impact of the pandemic will hit hard low-income people, especially informal workers in the hospitality, retail trade, and transport sectors who have limited or no access to healthcare or social safety nets.
The World Bank has announced that India is to receive $1 billion in emergency financing to fight the COVID-19 pandemic.
The World Bank has pledged to provide $14 billion in financial support through a fast-track package to strengthen the response of developing countries to the virus and expects to deploy up to $160 billion over the next 15 months to protect the poor and vulnerable.
World Bank President David Malpass on Monday urged G-20 countries to let the poorest countries suspend all repayments of official bilateral credit due to the adverse impact on their economies due to the coronavirus pandemic.
The World Bank has announced increasing to USD14 billion the amount of fast-track financing to assist companies and countries in their efforts to respond to the rapid spread of COVID-19, adding USD2 billion to the initial package.
Hailing the YSR Congress government's initiatives, particularly in health and education sectors, a visting World Bank team on Tuesday said the things Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy learned during his 3,648-km paada yatra (foot march) clearly reflected in his policies.
Consumers around the world may be wasting more than twice as much food as commonly believed, according to a study. The Food and Agriculture Organization of the United Nations (FAO) estimated that in 2005.
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