World Bank

India has been ranked at the 116th position in the latest edition of the World Bank's annual Human Capital Index that benchmarks key components of human capital across countries.

Abhas Jha, an Indian economist, has been appointed by the World Bank to a key position on climate change and disaster management in South Asia, the global lender said.

Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said.

About 11 million people could be driven into poverty in East Asia and the Pacific as a result of the coronavirus pandemic that has impacted over 780,000 people and killed more than 37,000 globally, the World Bank has warned.

The United States and Britain led a multi-billion-dollar global fightback against economic havoc wreaked by the coronavirus as the European Union shut its borders to travellers from outside for 30 days to stem the pandemic's ferocious spread.

And if the wave breaks, it could be more damaging since it would engulf private companies in addition to governments, at a time when economic growth is sluggish, according to a new report that covers four debt surges from 1970-2018.

The move comes following reports of a questionable USD50 million World Bank loan to a Chinese organisation associated with the forcible internment of minority Chinese Uyghur Muslims.

Mitra also said that the government had already given 2,600 acres of land at Raghunathpur in Purulia for the Amritsar-Kolkata industrial corridor which would generate huge employment opportunities.