AgenciesWorld Bank President Ajay Banga will unveil measures, including the pause on repayments and embedding catastrophe insurance into new loans in a speech in Paris on Thursday, the newspaper reported.
The lender will also allow countries to "quickly redirect" a portion of their funds to responding to an emergency when a crisis occurs, the FT said.
French President Emmanuel Macron is hosting a summit on Thursday and Friday in Paris to pin down a roadmap for easing the debt burdens of low-income countries while freeing up more funds for climate financing.
Nearly 40 heads of state and government are set to back a push for multilateral development banks like the World Bank to put more capital at risk to boost lending, Reuters reported this week, citing a draft summit statement.
The World Bank did not immediately respond to a Reuters request for comment.
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Local Indices End at Record Peaks on HDFC, IT GainsIndia’s key stock benchmarks closed at record highs amid choppy trade on Wednesday, bucking the bearish mood in other Asian markets, as merger-bound HDFC Bank and HDFC, as well as software shares, paced the gains.
Musk Meets Modi, Says Tesla to be in India SoonTesla founder Elon Musk said he had a very good conversation with Prime Minister Narendra Modi and he is confident the company, the world’s largest electric carmaker, will be in India “as soon as humanly possible” and that it is likely to make a “significant investment” in the country.
ZEE-Sony Deal on, Whether I’m CEO or NotPunit Goenka, CEO & MD of Zee Entertainment Enterprises, has said that the ZEE-Sony merger will go through whether or not he is the CEO of the merged company, as it benefits 96% of stakeholders.
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