WB to support the people of Pakistan
ISLAMABAD: The World Bank’s Regional Vice President for South Asia, Martin Raiser, is in Pakistan to reaffirm the Bank’s commitment to support the people of Pakistan. He launched a series…
World Bank
WB cuts 2023 world growth to 1.7%
WASHINGTON: Global growth is expected to slow "perilously close" to recession in 2023, the World Bank said Tuesday, slashing its economic forecast on high inflation, rising interest rates and Russia's…
World Bank
WB working with partners on flood rehabilitation
GENEVA: WB Vice President for the South Asia Region Martin Raiser on Monday said the World Bank was working with its development partners on flood rehabilitation in Pakistan. "The World…
World-Bank-Flood-Relief
WB is allocating $2B for flood affected areas
ISLAMABAD: Ministry of Finance has taken to the Twitter to inform that "Finance Minister Senator Mohammad Ishaq Dar held meeting with Mr. Najy Benhassine, Country Director, WB and discussed existing…
Floods in Pakistan 2022
Floods: Rs. 110B housing project in Sindh
KARACHI: Sindh Chief Minister Syed Murad Ali Shah with assistance of the World Bank (WB) has decided to launch a Rs110 billion housing project for the flood-affected people for which…
World Bank
Pakistan’s sustained growth
ISLAMABAD: According to the World Bank report released on Tuesday (19th of April, 2022) long-standing structural weaknesses of Pakistani economy including low investment, low exports, and low productivity growth pose…
food insecurity
Aid to address food insecurity
WASHINGTON: Major international organizations issued an appeal Wednesday for urgent measures to deal with rising food insecurity in poor countries, including providing financing to support farmers and increase food supplies.…
Palestinians need to speed up digitization: WB
RAMALLAH: The Palestinian economy needs to speed up its digital transformation, the World Bank said in a report published Wednesday, urging institutional reform and pointing the finger at Israeli restrictions.…
World Bank
Omicron: World economy at risk
COPENHAGEN: More than half of people in Europe will likely catch Omicron by March, the World Health Organization said Tuesday, as the World Bank warned the contagious variant could hamper…
World Bank
Omicron can slow global growth: WB
WASHINGTON: Global growth will "decelerate markedly" this year, but the Omicron variant of Covid-19 that is spreading rapidly worldwide could make the situation worse and exacerbate labor shortages and supply chain…
Iran
Iran to get $90 M from WB
WASHINGTON: The World Bank has approved $90 million in additional financing for Iran, to help fight against the Covid-19 pandemic, a spokesperson said Friday. The Washington-based development lender's board of…
World Bank
Poor countries need ‘comprehensive’ debt relief: World Bank chief
WASHINGTON: Debt loads in low-income countries surged 12 percent to a record $860 billion in 2020 amid the pandemic, prompting World Bank President David Malpass to call Monday for a…
World Bank
Nobel laureate Romer decries lack of ‘integrity’ under Georgieva at World Bank
WASHINGTON: Nobel Prize-winning economist Paul Romer said the current head of the IMF, in her previous senior role at the World Bank, engineered a "whitewash" of his concerns surrounding the bank's…
World Bank
World Bank to finance extra Covid jabs for poorer nations
GENEVA: A new World Bank financing mechanism will allow developing countries to purchase Covid-19 vaccines collectively through the Covax facility, the scheme announced Monday. Covax was set up to ensure…
UN chief welcomes IMF, WB steps to address COVID-related debt crisis
MANHATTAN: UN Secretary-General Antonio Guterres Friday (9th of April) welcomed the measures announced by the International Monetary and Finance Committee (IMFC) and the World Bank Group Development Committee, to address…
World Bank
Pakistan among top five with most investment in H1 of 2020: WB
ISLAMABAD: Pakistan for the first time has become one of the five countries in the world with the most investment in the first half-year of 2020, a World Bank report…
CM decides to conduct study of drainage system in Karachi
KARACHI: Sindh Chief Minister Syed Murad Ali Shah has said that the recent heavy rains wreaked havoc in Karachi and Mirpurkhas divisions, therefore, he decided to conduct study of drainage…
Past governments provided unfunded subsidies; Senate told
ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Friday informed the Senate that the past governments had provided unfunded subsidies without any proper budgetary allocation. Replying to a…
World Bank
WB to provide US $1.15 billion for two KP power projects; PM witnesses signing of agreements
ISLAMABAD: The World Bank will provide US$ 1.150 billion concessional financing to Pakistan for the two projects to support hydropower and renewable energy development in Khyber Pakhtunkhwa, and evacuation and…
World Bank approves $12 bln for Covid-19 vaccines
WASHINGTON: The World Bank said Tuesday that it approved $12 billion for developing countries to finance the purchase and distribution of Covid-19 vaccines, tests and treatments. The financing, aimed at…
COVID-19 Vaccine: WB approves $12b to support poor countries
In order to facilitate vaccination of a billion citoyens living in non-developed countries, the World Bank has approved twelve billion dollars enabling them to buy COVID-19 vaccines. According to WB…
World Bank
Pandemic could push 115M into extreme poverty in 2020: World Bank
WASHINGTON: As many as 115 million people could be pushed into extreme poverty this year due to the economic downturn caused by the coronavirus pandemic, the World Bank warned Wednesday.…
Boost in vaccine doses planned for poor as virus rages on
GENEVA: Up to 100 million additional doses of any eventual Covid-19 vaccines will be secured for delivery to poorer countries in 2021, health groups announced Tuesday, as the virus showed…
PM wants speedy development of mineral sector in Balochistan: Asim
ISLAMABAD: Special Assistant to Prime Minister on Information and Broadcasting Lt. Gen (retd) Asim Saleem Bajwa on Friday said that after the decision of stay order by World Bank tribunal…