World Bank must change course

April 15, 2019 01:05 am

BRUSSELS – Critics have called new World Bank president David Malpass an arsonist in charge of a fire department, because of past comments he made on Bank salaries and loans to China. But it’s far more important to focus on improving progress toward the World Bank’s core mission of ending extreme poverty.

JOHANNESBURG, April 11: The World Bank estimates the direct economic losses from Cyclone Idai in Mozambique to range from $656 million-$773 million (590.26 million pounds), covering damage to buildings, infrastructure and agriculture, a note sent out via the United Nations said on Thursday.

KATHMANDU, April 9: The World Bank has pointed out five major risks to the economic outlook of Nepal including reform implementation constraints and vulnerability to natural disasters.

Your daily dose of missed important news of the day.

KATHMANDU, April 6:  David R. Malpass has been picked as the new president of the World Bank Group for a five-year term beginning on Tuesday, the World Bank Group said.

KATHMANDU, Feb 1: The World Bank has approved a grant of US$ 5.61 million, approximately Rs 637 million, and an additional $2 million, or nearly Rs 226.96 million, in loan from its Strategic Climate Fund (SCF) to help Nepal diversify its energy sources to renewables.

KATHMANDU, Jan 24: Nepal has secured its voting rights by deciding to purchase an additional 309 unit of shares in the International Bank for Reconstruction and Development under the World Bank Group.

KATHMANDU, Jan 11: The World Bank has made an upward revision of Nepal’s economic growth projection to 5.9 percent in the current Fiscal Year 2018/19, up from its earlier forecast of 4.5 percent in June 2018.

KATHMANDU, Dec 14: A report unveiled by the World Bank here today has projected Nepal's possibility to increase exports to South Asian countries by four-fold.

KATHMANDU, Dec 1: Minister for Finance Yuba Raj Khatiwada has said that the World Bank needs to revise the basis and methodology of its Doing Business country rankings.

KATHMANDU, Nov 20: The World Bank has confirmed that it is sending a technical mission to Nepal next week to discuss its recent Doing Business report upon the request of the government.

KATHMANDU, Nov 18: Criticizing the World Bank Group's Doing Business Report 2019 that sent Nepal's performance in the global ranking five spots down, Minister for Finance Yuba Raj Khatiwada has vowed to make the Washington-based multilateral development bank review its ranking for the country.

KATHMANDU, Nov 17: The government has expressed concern over the report, 'Doing Business', prepared by the World Bank.

KATHMANDU, Nov 17: Calling upon investors to invest in Nepal, Finance Minister Yuba Raj Khatiwada has said that the country’s macroeconomic system is now stable and the tax system is credible.

Govt Rs 150b short for housing grants

November 17, 2018 07:47 am

MANTHALI, Nov 17: The government is going to face cash crunch to distribute grants to the earthquake survivors whose houses were destroyed in the 2015 earthquakes.

KATHMANDU, Nov 15: The government has signed two agreements with the World Bank to implement road and food security projects worth US$ 155.7 million.

KATHMANDU, Nov 14: The Government of Nepal and the World Bank have signed two agreements totaling US$ 155.7 million (equivalent to 18 billion Nepalese Rupees) today.

KATHMANDU, Nov 1: Nepal has fallen five places down to the 110th spot in the World Bank’s latest global ranking on the ease of doing business.

KATHMANDU, Oct 11: The World Bank has decided to provide around Rs 23 billion concessional loans to Nepal for the implementation of financial and energy sector reform policy.

KATHMANDU, Oct 11: The Ministry of Finance and the World Bank have signed two agreements totaling $200 million, nearly Rs 23.5 billion, as budgetary support for financial and energy sectors.

KATHMANDU, Sept 28: The World Bank on Wednesday approved US$ 133 million credit to Nepal to help the country build and maintain safe, resilient and cost-effective bridges on its Strategic Roads Network.

Sept 21: 6 things to know by 6 PM today

September 21, 2018 18:00 pm

Your daily dose of missed important news of the day.

MEXICO, Sept 21: Global waste could grow by 70 percent by 2050 as urbanization and populations rise, the World Bank said Thursday, with South Asia and sub-Saharan Africa set to generate the biggest increase in rubbish.

World Bank approves energy credit to Nepal

September 20, 2018 07:54 am

KATHMANDU, Sept 20: The World Bank has approved its first loan of US$ 100 million to strengthen the finances and operations of the energy sector in Nepal.

KATHMANDU, Aug 29: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has called for collaboration between the World Bank and the private sector in tourism, agriculture, education, health and infrastructure development sectors.