World Bank Current Affairs - 2020

World Bank recommends reforms in power distribution

The World Bank has suggested that power distribution utilities in India must be freed from Government interference and their management must be professionalized. In a report released by the bank, it suggested the government to give top priority to reforms in the electricity distribution sector. As per the report: Power distribution companies should have good Read More…

India inks $ 1006.20 million loan pact with World Bank US for “Sarva Shiksha Abhiyan III”

India inked $1006.20 million International Development Assistance (IDA) loan agreement with World Bank for Sarva Shiksha Abhiyan III. At present, Sarva Shiksha Abhiyan (SSA) is the largest ongoing Education For All (EFA) program in the world. It is the flagship programme for universalizing elementary education. The project aims to achieve universal access and retention, bringing Read More…

Hiroshi Naka is new vice-president of World Bank

Hiroshi Naka has been appointed as vice-president and auditor general of World Bank (WB).  His appointment was announced by Bank’s President Jim Yong Kim. Naka who is Japanese citizen brings in more than 25 years of experience working with the Japanese ministry of finance and multilateral organizations, where he specialized in issues such as economic Read More…

India emerged as 3rd largest economy in 2011: World Bank

As per the data released by the International Comparison Program (ICP) of the World Bank, India replaced Japan to become the world’s third-largest economy in 2011. It was the tenth largest economy in 2005. The US remained the largest economy closely followed by China. According to ICP report: Purchasing Power Parities (PPPs)-based world GDP estimated Read More…

World Bank to double its lending to developing nations

As part of its efforts to end extreme poverty by 2030, the World Bank Group declared that it will almost double yearly lending capacity to emerging nations like Brazil, China, India, etc. from USD 15 billion to USD 28 billion. In next decade, the WB it would be increasing its lending capacity by USD 100 billion to Read More…