World Bank forecasts Saudi economy contracting in 2023
The World Bank expects Saudi Arabia's economy to contract by 0.9% in 2023, it said in a report, revising its growth forecast for the world's top oil exporter sharply lower on the back of…
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Shaukat Tarin meets WB officials, promises power sector reform
Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a meeting today with Mr. Axel van Trotsenburg, Managing Director World Bank and the Bank's Pakistan team at the World Bank…
Forest monitoring vital for forest conservation and protection – SAPM
ISLAMABAD - Special Assistant to Prime Minister on Climate Change Malik Amin Aslam has said the monitoring of forest resources through remotely sensed data, and backed by field-based…
IMF chief denies altering World Bank report to appease China
IMF chief Kristalina Georgieva on Thursday disputed an independent investigation which found that in her previous job at the World Bank, she pressed staff to alter a report to avoid angering…
WB poised to support Imran Khan’s clean and green Pakistan initiatives
ISLAMABAD: Regional Vice President of the World Bank Group for South Asian Region Mr. Hartwig Schafer Tuesday called on Special Assistant to the Prime Minister on Climate Change Malik Amin…
WB provides $800 mln program support to Pakistan
Secretary, Ministry of Economic Affairs, Mr. Noor Ahmed and Ms Melinda Good, Acting Country Director, World Bank signed the two important program loan agreements worth US$ 800 million on…
IMF, World Bank begin push to swap debt relief for green projects
The idea of forgiving debt held by poor countries in exchange for "green" investments gained ground this week during the spring meetings of the IMF and World Bank, with concrete proposals…
WB announces $300 mn for Pakistan’s natural disasters, health sectors
The World Bank’s Board of Executive Directors Wednesday approved $300 million in financing for two projects in Pakistan the Sindh Resilience Project and the Solid Waste Emergency and…
Pakistan inks $750 mln financing deal with WB, AIIB
Pakistan has signed two financing agreements valuing US$ 750 million with the World Bank (WB) and the Asian Infrastructure Development Bank (AIIB) for the Resilient Institutions for…
Pakistan wins World Bank US$ 188 mln funding for first nature-based solution project
ISLAMABAD - Prime Minister’s Advisor Malik Amin said that present government was taking all-out measures for overall environmental protection through forest regeneration and biodiversity…
Pakistan, WB to sign $188 mn disaster resilience, ecosystem restoration pact
ISLAMABAD – The World Bank has agreed to join hands with Pakistan to support the latter’s disaster resilience and ecosystem restoration initiatives through more reliable and timely weather…
WB approves $200m financing for Pakistan to combat COVID-19
The World Bank’s Board has approved a first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 (coronavirus)…
Millions could be driven into poverty in Asia: WB
The coronavirus pandemic's economic fallout could cause China's growth to come to a standstill while driving 11 million more people in East Asia into poverty, the World Bank warned Monday.…
IMF, WB urge creditors to suspend debt payments of developing countries
ISLAMABAD: World Bank and International Monetary Fund (IMF) have urged its bilateral creditors to suspend debt payments from the International Development Association countries to help them…
World Bank approves $652 million for Karachi projects
The World Bank announced that it was committing $652 million through three projects to strengthen institutions, municipal services and infrastructure in Karachi.
The projects will focus on…