Chinese state media took a victory lap on Wednesday, gloating over the decision of major European powers to join a Beijing-backed multinational lender that the United States perceives as a threat to the Washington-led World Bank.
Sri Lanka'a new Finance Minister Ravi Karunanayake met top officials of the World Bank and IMF here and discussed the developmental needs of the country, seeking their assistance in improving the economic situation of the island nation.
Jammu and Kashmir Governor N N Vohra on Saturday directed the state's Finance secretary to pursue discussions with the Union Finance Ministry on the rapid damage and needs assessment report on the floods prepared jointly by the World Bank team and state government.
In a significant move by BRICS, environment ministers of the five member countries are to meet in Moscow in April to discuss taking forward the proposal for creating a Green Global Fund in cooperation with the World Bank to support initiatives that are environment-friendly.
Costly centralised welfare programmes are inefficient tools to reduce inequality in South Asia, the World Bank said on Tuesday, advising governments to transfer the money to local administrations instead.
Fuelled by economic reforms, India is projected to become the world`s fastest growing large economy by 2017 with a growth rate of seven percent, overtaking China along the way, a World Bank report said Tuesday.