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World Bank Provides Four Loans Worth Over $4.3 Billion to India

Joe Qian's picture

The World Bank approved four loans worth $4.345 billion dollars yesterday, which is the second largest volume of lending to a single country in a year.

The goal of the four projects is to contribute to improving India's infrastructure and help bolster the country's response to the global economic and financial crisis and lay the foundations for stronger growth in the future.

The financial package consists of:

-Banking Sector Support: $2 billion
-Support for India Infrastructure Finance Company Limited: $1.195 billion
-The Fifth Power Sector Support Project: $1 billion
-The Andhra Pradesh Rural Water Supply and Sanitation Project: $150 million

For more information and to watch an interview with India's Country Director Roberto Zagha, please check out the feature story.

Supporting Low Carbon Development: Six country cases

Jane Ebinger's picture

A year ago I was assigned from a World Bank operations team providing support to countries in Europe and Central Asia on energy, climate mitigation and adaptation to work in a Bank administered trust fund, the Energy Sector Management Assistance Program (ESMAP), as a thematic coordinator for energy and climate change in this program. One of my roles is to coordinate a program that is providing support to six emerging economies—Brazil, China, India, Indonesia, Mexico and South Africa—that are proactively seeking to identify opportunities and related financial, technical and policy requirements to move towards a low carbon growth path.

The program has been underway for two years and individual country studies have been managed by World Bank operational teams. The governments of these countries have initiated country-specific studies to assess their goals and development priorities, in conjunction with greenhouse gas (GHG) mitigation opportunities, and examine the additional costs and benefits of lower carbon growth. This requires analysis of various development pathways—policy and investment options that contribute to growth and development objectives while moderating increases in GHG emissions.

Ladies Specials: Gender and the Public Space

Darshana Patel's picture

The “Ladies Specials”  are women-only commuter train recently launched in four Indian cities (New Delhi, Mumbai, Chennai and Calcutta).  While not a new practice, public transport exclusively for women is becoming popular.  (Mexico City introduced women-only buses in January 2008 and commuters on Japanese trains know a thing or two about this too.)

Harassment on the train or bus is not just an annoying nuisance for women.  It influences a whether or not a woman chooses to enter the workforce in the first place. (Or maybe whether her family or husband will allow her.)

Full Speed Ahead: Internet Traffic Growth Unaffected by Financial Crisis

Joe Qian's picture

Reading about the financial crisis and the effects that have rippled around the world, it’s always heartening to find something positive in the midst of piles of red ink and pessimistic expectations.

Although the majority of industries and economies around the world have suffered due to the downturn, Internet traffic growth accelerated at an increasing rate in 2009 compared to 2008 with no discernible slowdown due to the crisis. According to data released by Telegeography, every single region around the globe registered growth in internet traffic, or flow of data. South Asia has registered over a 100% increase, higher than the 79% posted worldwide, although it must be noted that South Asia had a lower baseline capacity.

Doing Business Report 2010: South Asia

Joe Qian's picture

The World Bank released its annual Doing Business report (pdf) last week which tracks regulatory reforms for conducting business and ranks countries based on their ease of doing business.

Countries are evaluated and ranked by indicators such as starting a business, employing workers, getting credit, paying taxes, etc.

In South Asia, seven out of eight (75%) of the countries instituted reforms that were conducive to business, higher than any previous year of the study.

Pakistan was the highest ranked country in the region at number 85 while Afghanistan and Bangladesh were the most dynamic reformers with three reforms each. Afghanistan’s rank in the study also increased the most in the region, climbing eight spots.

Ingenious Engineers for India

Andreas Blom's picture

With its massive talent-base, a unique ability to attract its best and brightest students to the engineering discipline, and the presence of some of the world’s leading companies, India has an enormous potential to modernize its economy through engineering education and technology.

However, I think the potential is not fully exploited. The majority of new engineers in India are superb at rote memorization useful to pass paper exams. Many students, however, are less skilled at solving real-life problems with creativity. Also they lack communication and team skills in order to succeed in a demanding international setting.

Accountability Alchemy

Darshana Patel's picture

A self-help group member shows us her paralegal identification (Medak District, Andhra Pradesh).Alchemy is well known as the science of turning invaluable substances into gold.  But it symbolizes transformation of the most radical kind.  (From the Arabic word al-kimia, alchemy literally means "the art of transformation.")

So what does accountability have to do with radical transformation? According to the Society for Elimination of Rural Poverty (SERP) , a government agency in Andhra Pradesh, India; accountability is key to ensuring transformation of the poor.   

SERP is implementing the Andhra Pradesh Rural Poverty Reduction Project, locally known as Indira Kranthi Patham (IKP) in all the 22 rural districts of Andhra Pradesh. IKP is the longest running livelihoods program financed by the World Bank in South Asia but what makes the project unique is not large-scale spending. It is the slow, intentional process of building institutions of and by the poor that no amount of money alone has been able to accomplish.  The idea behind this project is that accountability and sound governance practices must be embedded in the norms and culture of institutions rather than treated as after-thoughts.

Watch Your Wallets, Protectionism is Back!

Zahid Hussain's picture

Protectionism is BackProtectionism is on the rise all over the world, thanks or should we say “no thanks” to the global economic crisis.  Last November, G-20 leaders pledged to fight protectionism. Yet, according to the World Trade Organization (WTO), 18 out of these 20 economies have since taken measures to restrict trade. With the global economy struggling to recover, political pressures demanding protection from import competition to sustain domestic employment are intensifying. It is likely to prove right the old adage that the only thing we learn from history is that we never learn from history.  One lesson from the experience of the 1930s that is currently most relevant is that raising trade barriers deepens and prolongs recession.

Have Innovation and Entrepreneurship Found Solutions for Affordable Housing?

Joe Qian's picture

The recently elected government has recently announced an ambitious goal of eliminating slums in India in its most recent five year plan. Will this be a possibility? If you ask the construction companies, the answer is yes. A number of entrepreneurs and enterprises have embarked on new initiatives to provide affordable housing called such as Tata and its construction of Shubh Griha north of Mumbai.

With the increased rate of economic growth over the last few years, housing developers have tended to focus on the higher end luxury developments causing property prices to soar; I was astounded that luxury apartment homes in Mumbai cost the same as they do in New York and London. As demand for these properties have fallen due to the global financial crisis and increased interest rates, the focus on lower cost housing has increased due to a larger market coupled with acute shortages of housing in urban India.

Surveying the use of mobile phones in education worldwide

Michael Trucano's picture

image courtesy of the Wikimedia Commons, sourced from Flickr user saschapohflepp, used according the terms of its Creative Commons licenseThe Central Board of Secondary Education (CBSE) schools in India has just announced a mobile phone ban, echoing similar calls in many other places (from Sri Lanka to South Korea, from the UK to the Philippines to France) to restrict student access to what are often seen as 'devices of distraction'.

Why then will the World Bank will be kicking off a study next month looking at "The Use of Mobile Phones in Education in Developing Countries"?


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