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BEIJING - Yesterday the World Bank's Board of Executive Directors approved a loan of $50 million to the People's Republic of China to improve rural wastewater management and township infrastructure in Ningbo Municipality.

WASHINGTON - The World Bank's Board of Executive Directors has approved a US$5 million loan for the Additional Financing for the Armenia Social Protection Administration Project (SPAP). The Additional Financing will expand activities under the ongoing SPAP to further improve the delivery of social protection and employment services by strengthening institutions and better targeting social safety net programs.

WASHINGTON ― The World Bank's Board of Executive Directors has approved a US$7 million credit for the Second Additional Financing for the Social Investment Fund III (ASIF III) Project for Armenia. The Additional Financing will assist the Government of Armenia in its efforts to improve the living standards of the poor and vulnerable groups by expanding labor-intensive infrastructure projects.

MANILA, PHILIPPINES - Making Asia's sprawling urban areas more sustainable, competitive and environmentally friendly is the focus of an Asian Development Bank (ADB)-organized conference that begins in Manila today.

Overall economic conditions of Sri Lanka are improving as expected, and the economy is poised for a recovery this year. External balances are strong, remittance inflows continue at a high rate, tourism prospects are rapidly improving, and gross reserves remain at comfortable levels.

New Delhi : The nation is awaiting the presentation of the Union Budget by the finance minister, Pranab Mukherjee on Friday. One thing is certain. The proposed new form of taxation - Goods and Services Tax - will not find its way in the Budget 2010-11.

Executive Directors of the International Monetary Fund (IMF) has noted the significant negative impact of the global economic crisis on San Marino's economy and the macro financial vulnerabilities that the country faces. They have not only endorsed the measures taken by the authorities to address the immediate pressures but also have commended the authorities for strengthening international cooperation in economic and financial matters and for their effort to reach a double taxation agreement with Italy, which would help facilitate a repositioning of the economy.

New Delhi : India's Economy Survey for the year 2009-10 has said that the country's economy has come out from the impact of the global financial crisis and is expected to grow at 7.2% in the current fiscal as against 6.7% in 2008-09. It is further optimistic about achieving GDP growth of 8.5% (with a correction of +/-0.25%) in 2010-11 and a full recovery breaching the 9% mark in 2011-12.

New Delhi: Shri Dinesh Rai, Secretary (MSME) has asked KVIC to adequately publicize and disseminate the procedures and requirements of the new scheme for Market Development Assistance (MDA) based on production in Khadi to all the institutions. He advised that the selection of the institutions for Khadi Reform Programme with Asian Development Bank assistance should be done carefully and transparently.

New Delhi: Admiral Nirmal Verma, Chief of the Naval Staff along with Shri Pradeep Kumar, Defence Secretary embarked the aircraft carrier INS Viraat operating on the eastern seaboard to kick start the first phase of 'TROPEX 10'.