World Bank

July 30, 2025 4:36 PM

Skilled Workforce Drives India’s Rise as the World’s Leading Remittance Recipient

Thanks to the demographic dividend, with 65% of India’s population being under 35 years of age, and India being the largest provider of human resources in the world, with the largest pool of STEM graduates (STEM: Science, Technology, Engineering, and Mathematics) (according to an EY study), the country continues to remain the largest recipient of inward remittances — a trend maintained since 2008, according to the World Bank. In 2001, India’s share in the world’s total remittances was 11...

May 9, 2025 12:39 PM

A Broke, Belligerent, Brazen Pakistan: Ignoring Poverty, Investing in Proxy Wars

Pakistan’s economy has been in dire straits for quite some time now. With over $130 billion USD in external loans, according to CEIC’s economic database, the $338 billion USD economy (according to the World Bank dataset for current GDP as of 2023) is taking even commercial loans at higher interest rates merely to service existing debt – debt to repay debt. How can such a country engage in war rhetoric and terror patronage when it faces over $22 billion USD in debt repayments (Fitch Rating�...

April 26, 2025 6:27 PM

India lifts 171 million out of extreme poverty in a decade: World Bank

In one of the most remarkable achievements of the past decade, India has lifted 171 million people out of extreme poverty, according to the World Bank’s Spring 2025 Poverty and Equity Brief. The report highlights that the proportion of Indians living on less than 2.15 US dollars a day—the international benchmark for extreme poverty—fell sharply from 16.2 percent in 2011-12 to just 2.3 percent in 2022-23, according to the Ministry of Information & Broadcasting. This achievement stands ...

April 17, 2025 10:15 AM

World Bank’s Banga urges developing nations to lower tariffs, focus on regional trade

World Bank President Ajay Banga urged developing countries on Wednesday to liberalize trade, saying many maintained higher tariffs than advanced economies and lowering them could offset the risk of reciprocal import taxes. Banga told reporters that global uncertainty - triggered in recent months by U.S. tariffs and retaliatory measures announced by China and other countries - was contributing to a more cautious business and economic environment. He said the impact would vary country by country...

February 27, 2025 12:28 PM

World Bank sees India as right place to invest for global firms

The World Bank has reaffirmed its positive outlook on India's economic growth, urging global companies to invest in the country. Speaking at the 'Advantage Assam 2.0 Business Summit' on Wednesday, World Bank Country Director, Auguste Tano Kouame, dismissed worries over short-term fluctuations, calling India “the shining light in the world.” In his address at the session titled "Leveraging MDB (multilateral development bank) Resources to Unlock Opportunities for the Private Sector,” Kouam...

February 25, 2025 3:57 PM

Ukraine needs $524 billion to recover, rebuild after three years of war, World Bank says

The estimated cost to rebuild Ukraine's economy after Russia's invasion has risen to $524 billion, nearly three times its expected 2024 economic output, the World Bank, United Nations, European Commission and the Ukrainian government found. A new study by the institutions included data from Russia's invasion three years ago through December 31, including a 70% increase in damages to Ukraine's energy infrastructure from Russian attacks. It showed an increase of over 7% from the last estimate of...

February 20, 2025 1:58 PM

India set to remain world’s fastest-growing economy in 2025-26: RBI bulletin

India’s economy is expected to maintain its status as the fastest-growing major economy in 2025-26, supported by sustained growth momentum and strategic fiscal measures, according to the Reserve Bank of India’s (RBI) latest monthly bulletin. Citing estimates from the International Monetary Fund (IMF) and the World Bank, the bulletin projects India’s GDP growth at 6.5% and 6.7%, respectively, for 2025-26. Despite global uncertainties, high-frequency indicators point to a sequential pick-up...

January 19, 2025 4:35 PM

India to grow at 6.7% for next two years: World Bank

India is projected to sustain its position as the fastest-growing major economy, with a growth rate of 6.7% in both FY26 and FY27, according to the World Bank’s latest Global Economic Prospects (GEP) report, outpacing a global growth projection of 2.7% for 2025-26. The GEP report attributes India’s robust growth to a thriving services sector and a revitalized manufacturing base, driven by transformative government initiatives. From modernizing infrastructure to streamlining taxes, these mea...

January 17, 2025 11:35 AM

World Bank projects India’s growth to be 6.7 percent in next two fiscal years

The World Bank projects India’s economy to grow by 6.7 per cent in the next fiscal year starting in April, slightly higher than in the current fiscal year, and continuing to top the growth tally. The Word Bank’s Global Economic Prospects released on Thursday estimated the current fiscal year’s growth rate at 6.5 per cent, down from the 8.2 per cent in the previous period. But it said that “the services sector is expected to enjoy sustained expansion, and manufacturing activity will str...

October 24, 2024 6:24 PM

Nepal’s Finance Minister Paudel Meets ADB Vice President

Nepal’s Deputy Prime Minister and Minister for Finance, Bishnu Paudel, is currently attending the annual meetings of the World Bank Group and the International Monetary Fund (IMF) in the United States. During his visit, he held a meeting with Yingming Yang, Vice President of the Asian Development Bank (ADB). According to the Nepali Embassy in Washington, they discussed the current capital of the Bank and explored future potential collaborations with Nepal. As reported by the state news agenc...