World Bank Current Affairs, GK & News

World Bank

World Bank, which has official goal of reduction of poverty, provides loans to developing countries for capital programmes. World Bank comprises only two institutions viz. the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). In contrast, World Bank Group comprises three more viz. International Finance Corporation (IFC), Multilateral Investment Guarantee ..

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WB’s USD 245-million loan for Railway Logistics Project

The World Bank (WB) has approved a USD 245 million loan to extend support for Railway Logistics Project. Highlights World Bank loan will support India’s efforts of modernising rail freight and logistics infrastructure. As per statement, capacity constraints of Indian Railways have reduced the speed & reliability of shipments as well as limited the volumes. ..

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World Bank: India’s FY23 GDP forecast

On June 7, 2021, the World Bank reduced its real gross domestic product (GDP) growth forecast for year 2022-23 for India from 8 per cent to 7.5 per cent in the “Global Economic Prospects Report”. Key Findings of the report This forecast was reduced after considering the supply-chain pressure, inflationary pressures, and geopolitical tensions because of Russia’s invasion ..

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World Bank USD 30 Billion Fund for Food Crisis

Actions that will be taken by the World Bank to mitigate the ongoing food security have been announced. The World Bank will be investing up to USD 30 billion to finance new and existing projects to mitigate the crisis. The World Bank will be providing financing in which areas? Financing will be provided in 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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SRESTHA- Gujarat Project

USD 350 million in aid has been approved by the World Bank for the “Systems Reform Endeavors for Transformed Health Achievement” in Gujarat or the SRESTHA-G project. What is the total cost of this project? This project will be costing USD 500 million and the World Bank is providing USD 350 million to support this ..

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