World Bank Group Current Affairs, GK & News

IFC’s Global Food Security Platform

International Finance Corp. (IFC) has launched Global Food Security Platform to strengthen the private sector’s ability to respond to food crisis and boost food production. Key facts The World Bank’s private sector arm, IFC, launched the Global Food Security Platform to address global food crisis. This 6 billion USD financing facility will help boost the ..

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World Bank’s Migration and Development Brief- Update

The World Bank released its latest Migration and Development Brief. What are the highlights of the report? The Russia- Ukraine war will slow the growth of remittance flows to low- and middle-income countries (LMICs) to 4.2% in 2022 from 8.6% in 2021. It is estimated that remittances to LMICs, this year, will reach $630 billion. ..

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Indian Government signs agreement for Two Projects in Tamil Nadu with World Bank Group

On 29th June 2020, an agreement was signed between the World Bank Group and the Government of India for providing urban poor in the state of Tamil Nadu access to affordable housing. The agreement signed has two projects under it- (i) Tamil Nadu Housing Sector Strengthening Program and (ii) Tamil Nadu Housing and Habitat Development ..

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World Bank Group Approves USD 500 Million under STARS Program

On 28th June 2020, the World Bank Group has announced that a loan of USD 500 million (approx Rs 3700 crore) was approved by its Board of Executives on 24th June 2020 for improving the quality and governance of school education system in India. The loan approved will benefit 10 million teachers and 250 million ..

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International Development Association

The World Bank and IMF launched several financial initiatives to help out the IDA countries in times of the COVID-19 crisis. About IDA The IDA or International Development Association is an international financial institution that is a part of the World Bank Group. It was established in 1960 and headquartered in Washington D C. It ..

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Challa Sreenivasulu Setty appointed as MD of SBI

Challa Sreenivasulu Setty, who is currently serving as the Deputy managing director of the country’s largest lender, has been appointed as the managing director of the State bank of India for a period of three years as per the official order released on Monday, 20th January 2020. The appointment was approved by the appointments committee ..

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