World Bank

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...

September 25, 2024 9:06 AM

Prime Minister Modi has built a strong relationship with United States, says World Bank President

World Bank President Ajay Banga heaped praise on Prime Minister Narendra Modi for prioritising on building a strong relationship with the United States both bilaterally and also through the Quad security grouping, adding that it has been his strategy ever since he took office. Speaking to ANI on the sidelines of the 79th United Nations General Assembly, Banga said the Prime Minister meeting with the CEOs was an effort to ensure that India remains a strong partner in possible manufacturing oppor...

September 16, 2024 3:31 PM

World Bank raises India’s growth forecast to 7% from 6.6% for FY25

The World Bank has raised its growth forecast for India to 7% for the fiscal year 2024-2025, up from its previous estimate of 6.6%, according to the latest India Development Update (IDU) released on Tuesday. This revision highlights India's economic resilience amidst challenging global conditions. Titled "India's Trade Opportunities in a Changing Global Context," the report underscores India's status as the fastest-growing major economy, with an impressive growth rate of 8.2% recorded in FY23/2...

June 12, 2024 4:47 PM

Myanmar poverty deepens, economic growth stagnant, World Bank says

Poverty in Myanmar is more widespread than at any time in the last six years and growth in the conflict-torn nation is likely to remain at a measly 1% in the current fiscal year with little respite in sight, the World Bank said on Wednesday. Escalating violence, labour shortages and a depreciating currency have made it harder to do business, the bank said in a report on the Southeast Asian nation that has been in political and economic turmoil since a 2021 military coup ended a decade of tentat...

September 16, 2024 6:10 PM

World Bank raises GDP projection, says India to keep its fastest-growing economy tag

The World Bank has upwardly revised India's GDP growth forecast for the current financial year 2024-25 by 20 basis points to 6.6 per cent from its earlier projection of 6.4 per cent made in January. The World Bank said that India will continue to be the fastest-growing among the world's largest economies, though its pace of expansion is expected to moderate. In its latest Global Economic Prospects report, the international financial institution attributed the revision in India's growth project...