Robert B Zoellick will succeed Paul Wolfowitz as the 11th president of the International Bank for Reconstruction and Development, or the World Bank, for a five-year term from July 1, 2007.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
Attacking the industrialised countries for agricultural protectionism, which was hurting the economies of poor nations, the World Bank has stressed that global trade liberalisation was critical for reducing poverty in developing countries.
Current President Robert Zoellick, who took office in July 2007, is schedule to retire in June.
World Bank on Wednesday warned that a prolonged war in Iraq may adversely affect India's GDP growth prospects in this fiscal.
World Bank on Wednesday asked developed countries to work out a "trade deal" including removal of trade barriers to accelerate growth in the developing nations.
India on Monday hoped that World Bank would resume funding for a child health programme, as the government has agreed to put in place measures to check corruption and take action against those involved.
The report, Doing Business in India 2009, took into account 17 states in the\ncountry and noted that Hyderabad and Bhubaneshwar are the two nodal locations\nsuitable for opening and operating business easily.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
The World Bank said on Wednesday rise in interest rates and oil prices is likely to slow down India's growth for the next few years.
India, along with other South Asian countries, is expected to sustain a growth of 6-6.3 per cent in the next two years, although global economic growth is slated to decline to 3.2 per cent, the World Bank said on Wednesday.
Kim, 52, will take over at the beginning of July, after the current president, Robert B Zoellick, steps down at the end of his five-year term.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
World Bank on Monday said it expects Indian economy to grow by 8 per cent this fiscal but asked the government to open up more sectors for foreign direct investment, encourage private sector participation and improve infrastructure.
The eight-day long annual meetings of the World Bank and International Monetary Fund, which began in Dubai on Wednesday, would intensively discuss employment creation, private sector development and financial sector reforms.
Lafitte was appointed neutral expert for the contentious 450 mw power project in May by the World Bank after Pakistan said construction of the Baglihar project violated the 1960 Indus Water Treaty.
World Bank customarily withdraws fund for a project that has not been built in seven years.
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
Mumbai, Karnataka brace for 'mini India' showdown in marquee Ranji QF match
Observing that economy was "going well" in India, which has large internal markets, the World Bank said on Thursday that growth had to be labour oriented, even as it expressed concern over the mounting fiscal deficit.
Glimpses from around the world that will make you smile and cry.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
The World Bank said on Monday that it would "more or less" stick to its forecast of 6.5 per cent growth rate for Indian economy despite the damage suffered by the country in the tsunami tragedy.
While edging up China's gross domestic product growth projection for both 2010 and 2011, the report said that growth in domestic demand would remain strong although exports could suffer from a predicted global economic slowdown next year.
'After the Galwan clash, the rules of engagement changed with the army commanders allowed to use any means at their disposal as they deem fit for tactical operations.'
World Bank will provide another $220 million loan to Andhra Pradesh to expedite the reforms process even as it was considering sanctioning such loans to Tamil Nadu and Orissa as well.
Prime Minister Narendra Modi inaugurated the Northeast's first Emergency Landing Facility in Assam, boosting regional defense and disaster response capabilities.
The government and World Bank on Tuesday signed an agreement for a credit of 180 million SDR ($250 million equivalent) from International Development Agency for the Technical Engineering Education Quality Improvement Project.
The government is in talks with the World Bank for technical and financial assistance for overall e-governance projects in the country.
In line with its decision to maintain borrowing within its "load bearing" capacity, Karnataka has decided against going in for more loans from the World Bank and other agencies, Chief Minister S M Krishna said on Wednesday.
The World Bank has approved a $120 million loan to support the development of India's small and medium enterprises sector.
The additional finance will also help the government focus on improving the quality of water supply.
World Bank is optimistic that the Indian economy can grow by 6-8 per cent in the coming years but has asked the government to improve social services like education and health.
The IMF on Monday raised India's growth projection to 7.3 per cent for fiscal 2025-26, up 0.7 percentage point from its October forecast, on the back of better-than-expected performance of the economy. The Washington-headquartered multilateral lending agency has also revised India's Gross Domestic Product (GDP) growth forecast to 6.4 per cent for fiscal year 2026-27 beginning April 1, 2026, from its earlier estimate of 6.2 per cent.
