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World Bank Group President David Malpass said for some countries, it’s a red alert.(Reuters file photo)

World Bank sees more countries in ‘deep debt distress’ this year

By Reuters | Posted by Deepali Sharma | Washington
PUBLISHED ON JAN 05, 2021 09:53 PM IST
World Bank Group President David Malpass said the African oil producer Chad may need a deep reduction in the net present value of its debt.
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Malpass said World Bank was working closely with the G20 in countries affected by fragility, conflict and violence, including the Sahel, Somalia, Lebanon, Gaza and the West Bank.(Reuters)
Malpass said World Bank was working closely with the G20 in countries affected by fragility, conflict and violence, including the Sahel, Somalia, Lebanon, Gaza and the West Bank.(Reuters)

World Bank warns G20 against doing too little to tackle debt problems

By Reuters | Posted by Srivatsan K C | Washington
UPDATED ON NOV 22, 2020 04:55 AM IST
World Bank President David Malpass said he was pleased by progress made by the Group of 20 major economies on increasing debt transparency and providing debt relief to the poorest countries, but more was needed.
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Without early doses that can bring outbreaks under control, many of these countries risk economic collapse that will push hundreds of millions of people back into poverty.(REUTERS)
Without early doses that can bring outbreaks under control, many of these countries risk economic collapse that will push hundreds of millions of people back into poverty.(REUTERS)

World Bank seeks board approval for $12 billion coronavirus vaccine financing plan

By Reuters| Posted by Susmita Pakrasi | Washington
PUBLISHED ON SEP 30, 2020 06:20 AM IST
Global competition for early coronavirus vaccine doses is already fierce, months ahead of any approvals, as wealthy countries move to secure supplies.
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The World Bank has committed to deploying $160 billion in funding to 100 countries through June 2021 in an effort to addresses the immediate emergency, and about $21 billion had been released through the end of June (AP Photo)
The World Bank has committed to deploying $160 billion in funding to 100 countries through June 2021 in an effort to addresses the immediate emergency, and about $21 billion had been released through the end of June (AP Photo)

World Bank chief warns extreme poverty could surge by 100 million

By Agence France-Presse| Posted by Susmita Pakrasi | Washington
UPDATED ON AUG 21, 2020 05:26 AM IST
The Washington-based development lender previously estimated that 60 million people would fall into extreme poverty due to Covid-19, but the new estimate puts the deterioration at 70 to 100 million, and he said “that number could go higher” if the pandemic worsens or drags on.
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India will be the largest beneficiary of the first wave of programs with a facility for USD 1 billion, followed by Pakistan with USD 200 million(REUTERS)
India will be the largest beneficiary of the first wave of programs with a facility for USD 1 billion, followed by Pakistan with USD 200 million(REUTERS)

World Bank to roll out USD 160 billion emergency aid to help nations deal with Covid-19

By Agence France Presse | Washington
UPDATED ON APR 03, 2020 05:10 PM IST
The board of the Washington-based development lender announced the first set of fast-track crisis funding, with an initial $1.9 billion going to projects in 25 countries, and operations moving forward in another 40 nations, the bank said in a statement.
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Prime Minister Narendra Modi and World Bank President David Malpass during the 5th edition of the NITI Aayog Lecture series, in New Delhi on Saturday.(ANI Photo)
Prime Minister Narendra Modi and World Bank President David Malpass during the 5th edition of the NITI Aayog Lecture series, in New Delhi on Saturday.(ANI Photo)

More reforms, innovation to spur Indian growth, says World Bank president

By Press Trust of India | New Delhi
UPDATED ON OCT 27, 2019 06:27 AM IST
Although India has made progress in the financial sector, there is scope for further improvement in the banking sector, shadow banking and the capital market.
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Prime Minister Narendra Modi with World Bank President David Malpass in New Delhi.(PTI photo)
Prime Minister Narendra Modi with World Bank President David Malpass in New Delhi.(PTI photo)

India to gain from more land reforms: World Bank chief

By Gireesh Chandra Prasad | Bloomberg, New Delhi, New Delhi
UPDATED ON OCT 27, 2019 02:19 AM IST
Malpass’ suggestions on further reforms come in the context of India improving its position in World Bank’s ‘ease of doing business 2020’ study released earlier in the week showing that India had moved up 14 places in this year’s ranking to 63rd position, up from last year’s 77.
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World Bank Group President David Malpass to visit India and Pakistan in October.(Reuters Photo)
World Bank Group President David Malpass to visit India and Pakistan in October.(Reuters Photo)

World Bank President David Malpass to visit India, Pakistan later this month

By Press Trust of India | Washington
UPDATED ON OCT 17, 2019 07:34 PM IST
At a news conference at the start of the annual meetings of the IMF and World Bank,David Malpass announced that he would travel to both India and Pakistan later this month.
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American David Malpass named World Bank president(AFP)
American David Malpass named World Bank president(AFP)

American David Malpass named World Bank president

By Agence France-Presse | Washington
UPDATED ON APR 06, 2019 07:17 AM IST
The selection of Malpass by the bank’s board of directors followed an “open, transparent” nomination process in which citizens of all membership countries were potentially eligible, the bank said in a statement.
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