Tue, 21-Oct-2025

World Bank downgrades 2022 global growth forecast to 4.1%

China must participate 'fully' in debt relief for poor nations: World Bank

WASHINGTON: The global economy is on track to grow by downwardly revised 4.1 per cent this year amid new waves of the pandemic, rising inflation and continued supply chain bottlenecks, the World Bank Group said in its latest Global Economic Prospects released on Tuesday. The global outlook is “clouded by various downside risks,” including renewed … Read more

Indonesia’s economy to grow by 5.2% in 2022: World Bank

World Bank

JAKARTA: The World Bank has estimated that Indonesia’s economy would grow by 3.7 per cent in 2021 and by 5.2 per cent in 2022, if there would be no other severe waves of Covid-19 and the country’s vaccination rate continues to be high. The World Bank sees Indonesia’s economy continuing to recover with various sources … Read more

World Bank provides $19.8 million aid to Pakistan for resilience in education sector

World Bank $19.8 million aid to Pakistan

The World Bank has on Wednesday pledged to provide $19.8 million aid to Pakistan for the country’s response, recovery, and resilience in the education sector amidst the ongoing Coronavirus pandemic.

The project of World Bank aims at strengthening federal and provincial actions towards the education sector so a proper response can be concreted and to support the country’s short term recovery in this sector from the COVID-19 crises.

According to the agreement materialized today in the presence of economic affairs minister Makhdum Khusro Bakhtiyar, the country director of WB Najy Benhassine signed the funds to Pakistan for the education project.

The project is set to help the government to continue providing education and learning opportunities in the country especially in the far-flung areas through an expansion in the national distance-learning program.

Earlier on Wednesday, Prime Minister (PM) Imran Khan has addressed that Country Strategy Dialogue (CSD) on Pakistan, organized by the World Economic Forum (WEF) in recognition of the country’s commendable resilience to the myriad of challenges.

While speaking to the forum, PM Imran said the country had opened the construction sector and as the work was done in the open air so the virus couldn’t spread.

Detailing about the Ehsaas Programme, the premier said that 15 million families were given cash handouts and it really saved Pakistan from the worst effects of lockdowns.

“Because the people were with us, they complied with our measures we came out of it better than any other country,” the premier said.

He further added that we saved our economy and we save people from dying from the virus.

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