World Bank approves $375 million loan for India's 1st waterway project

World Bank approves $375 million loan for India's 1st waterway project(जलमार्ग परियोजना)

The World Bank has approved a loan of USD 375 million (around Rs 2,421 crore) for the ambitious

Rs 6,000-crore World Bank-backed scheme proposed to manage groundwater resources

Rs 6,000-crore World Bank-backed scheme proposed to manage groundwater resources NEW DELHI: Facing a sharp decline in groundwater level in many parts of the country due to over exploitation of existing resources, the Centre has proposed a new World Bank-backed Rs 6,000 crore scheme to manage groundwater resources in India. Half of the total cost of the scheme, called National

India: US$ 235 Million Credit for Bihar Rural Roads Project

WASHINGTON, December 21, 2016 - The World Bank’s Board of Executive Directors approved the following project:Project Description: The Project will help improve and effectively manage the state's rural road network. It will support the construction of about 2,500 km of rural roads under the Mukhiya Mantri Gram Sampark Yojana (MMGSY). The roads will be constructed using cost-effective

UPDATE 1-World Bank approves second $1 bln loan tranche to Egypt

UPDATE 1-World Bank approves second $1 bln loan tranche to Egypt Dec 20 The World Bank's board of executive directors approved on Tuesday a second $1 billion disbursement from a $3 billion loan to Egypt to support its economic reform programme. Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy hit by political upheaval since a 2011 revolt and

World Bank 'pauses' Indus treaty processes of India, Pakistan

 World-Bank-'pauses'-Indus-treaty-processes-of-India-Pakistan In a significant development, the World Bank has paused the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements.  "We are announcing this pause to protect the Indus Waters Treaty and to help India and Pakistan consider

World Bank Cancels $100 Million Loan For Pakistan Gas Project

World Bank Cancels $100 Million Loan For Pakistan Gas Project ISLAMABAD:  The World Bank has cancelled a $100 million loan to Pakistan for a natural gas efficiency project due to no progress in achieving the development objectives and a lack of interest on the part of the gas distribution company. The project, which was to be carried out by Sui Southern Gas Company (SSGC) in its distribution

World Bank adopts new social, environmental framework

WASHINGTON: The World Bank on Thursday adopted a new set of policies aimed at preventing its projects from harming people and the environment. The global lender dedicated to fighting poverty, whose commitments rose to more than $60 billion this year, said the new environmental and social framework had involved the "most extensive consultation ever conducted" by the bank. "These new safeguards will build into

World Bank President on a two-day visit to India

World Bank President Jim Yong Kim will arrive today on a two-day visit to India to explore knowledge and financing opportunities. He will seek government's help in dealing with endemic problems like malnutrition and reiterate the Bank's strong support to India's stated commitments to increase its reliance on renewable energy sources.Kim will also meet the Prime Minister Narendra Modi and

World Bank approves $1.02 bln to support Pak reforms, disaster resilience

ISLAMABAD: The World Bank has approved financing worth $1.02 billion using three different financing instruments to support the deepening of Pakistan’s economic reforms and to strengthen the capacity of Sindh province to deal with natural disasters. The Competitiveness and Growth Development Policy Financing (CGDPF) would support the Government of Pakistan’s efforts to encourage economic growth and

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Centre slammed over Chetan Chauhan’s appointment as NIFT chief

The appointment of cricketer Chetan Chauhan as Chairman of premier fashion designing institute(NIFT) drew more condemnation of the Modi government today from opposition parties which said it was “shocking” and that it raised questions on the prime minister’s transparency. Separately, former India cricket captain Bishen Singh Bedi said the appointment “defies all logic”. Sponsored:

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World Bank arm to invest $75 mn in Glenmark

International Finance Corp. (IFC), the private sector lending arm of the World Bank, said it was looking to invest up to $75 million, or about Rs.500 crore, in Glenmark Pharmaceuticals Ltd, which is raising $200 million to reduce debt and fund expansion plans. The Mumbai-based drugmaker is raising the capital by selling quasi-equity instruments. The company plans to use the money to expand

World Bank arm to invest $75 mn in Glenmark

International Finance Corp. (IFC), the private sector lending arm of the World Bank, said it was looking to invest up to $75 million, or about Rs.500 crore, in Glenmark Pharmaceuticals Ltd, which is raising $200 million to reduce debt and fund expansion plans. The Mumbai-based drugmaker is raising the capital by selling quasi-equity instruments. The company plans to use the money to expand