The United States named the president of a prestigious Ivy League college, Jim Yong Kim, to lead the World Bank, in a race challenged by developing country candidates.

"It's time for a development pr

Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market effort

US lawmakers Friday pressed President Barack Obama to nominate economist Jeffrey Sachs as the next World Bank president with the White House apparently scrambling to pick a candidate ahead of next wee

American economist Jeffrey Sachs said on Friday he has been officially nominated to head the World Bank by at least one of the countries that has publicly supported him.

Sachs, speaking to AFP one we

The World Bank has announced USD 4.3 billion financial aid to India through a new innovative and flexible financing arrangement to help the country fight poverty.

This arrangement, while facili

Heads of the two most powerful banking institutions globally, the World Bank and the IMF are likely to be in India later in March amid an ongoing search process to finalise the name of the next Wor

With the race for a new World Bank chief gathering steam, External Affairs Minister S.M. Krishna on Friday said its next president should be selected on the basis of merit and the choice shouldn't be

Noting that downside risks to Indian economic growth are high, the World Bank on Friday projected the country's GDP to expand 7-7.5 per cent in 2012-13.

"In India, the slowdown in GDP growth witness

The world's major emerging economies on Sunday rejected the tradition that an American automatically is selected to head the World Bank and they will look at putting forward their own candidate for th

Seeking an end to US dominance on the World Bank, BRICS has said that the appointment of President of the multilateral agency should be based on merit and 'not on nationality'.

World Bank preside