Globe Banner News
New World Bank Country Director Appointed for Viet Nam, Cambodia, and Lao PDR
By Globe Banner | May 9, 2024
The World Bank has appointed Ms. Mariam Sherman as the new Country Director for Viet Nam, Cambodia, and Lao PDR, effective May 1, 2024.
Black & Veatch: ‘Asia Pacific must identify and adopt low-carbon technologies to reduce carbon emissions’
By Globe Banner | May 9, 2024
Black & Veatch, a global leader in engineering, procurement and construction services, will be discussing a variety of strategies that the Asia Pacific region needs to adopt to accelerate its energy transition. The company plans to delve into potential energy assets and systems that could aid the region in its quest for decarbonization.
Sustained Recovery in Tunisia Requires Swift Action to Seize Opportunities
By Globe Banner | May 8, 2024
TUNIS, May 8, 2024 — Tunisia's economic recovery slowed in 2023, due to a severe drought, tight financing conditions and a modest pace of reform, leaving the country's growth below pre-COVID levels, and making it one of the slowest recoveries in the Middle East and North Africa region, according to the Spring 2024 edition of the World Bank's Economic Monitor for Tunisia.
Maldives Development Update: Economic Challenges and Fiscal Reforms Ahead
By Globe Banner | May 8, 2024
The Maldives Development Update (MDU) has two main goals. First, it takes the pulse of the Maldivian economy by providing key developments over the past 12 months. Placing these in a global context, and based on these recent developments, it analyzes the outlook over the medium term. Second, every other edition of the MDU provides a more in-depth investigation of selected economic and policy issues. It has a wide audience including policymakers, policy analysts from think tanks or non-governmental organizations, and business and financial sector professionals interested in...
Forests, Wetlands, and Landscapes to Restore in Armenia with World Bank Support
By Globe Banner | May 8, 2024
The World Bank’s Board of Executive Directors approved the RESILAND: Armenia Resilient Landscapes Project (RESILAND Armenia) on May 8, 2024, to help the government strengthen community engagement and improve the management of forests, wetlands, and protected areas in selected locations in Armenia. The project, supported by the Global Environment Facility (GEF) and co-financed by the Government of Sweden, aims to reinforce the institutional framework for sustainable landscape management, expand areas under sustainable management, mitigate forest fragmentation, increase tree...
World Bank Vice President Engages with Pakistan on Development Strategies
By Globe Banner | May 8, 2024
World Bank Vice President Visits Pakistan, Agrees to Jointly Prepare an Ambitious and Focused New Country Partnership Framework
Maldives Economy Facing Challenges, Urgent Fiscal Reforms Required for Stability
By Globe Banner | May 8, 2024
The Maldives economy is expected to grow by 4.7% in 2024, lower than previous estimates, reflecting a moderation in growth momentum. The outlook faces potential risks due to external and fiscal vulnerabilities, and increased debt risks could arise if fiscal reforms are not implemented, says the World Bank in its twice-a-year update.
World Bank Expands Leadership in USD SOFR Market with Second Transaction of 2024
By Globe Banner | May 8, 2024
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) announced on May 8, 2024, the pricing of a USD 1.5 billion Sustainable Development Bond linked to the Secured Overnight Financing Rate (SOFR), maturing on May 15, 2028. The transaction garnered significant interest from investors, resulting in an order book of nearly USD 2.1 billion.
YES BANK and EBANX Announce Strategic Partnership to Empower Cross-Border Commerce in India
By Globe Banner | May 7, 2024
MUMBAI, India and CURITIBA, Brazil, May 7, 2024 /PRNewswire/ -- In a move set to revolutionize cross-border commerce in India, YES BANK, a leading private sector bank in India, and EBANX, a global fintech company specialized in payment solutions for emerging markets, have announced a strategic partnership focused on payment processing in India for the global digital economy.The collaboration between YES BANK and EBANX aims to streamline cross-border payment processing and enhance global commerce opportunities for both global merchants and Indian customers. Leveraging...
Pudu Robotics Unveils Advanced Smart Cleaning Technology at Interclean Amsterdam
By Globe Banner | May 7, 2024
AMSTERDAM, May 7, 2024 /PRNewswire/ -- Pudu Robotics, a global leader in service robotics, is all set to showcase its advanced smart cleaning technology at the prestigious Interclean Amsterdam 2024. The event, known as the largest professional cleaning trade show globally, will provide a platform for industry professionals to explore cutting-edge innovations in the cleaning and hygiene sector.The highlight of the exhibition will be the official launch of the PUDU SH1, a smart upright scrubber dryer designed to revolutionize cleaning efficiency and effectiveness. Pudu...
Digitrans Project Aims to Boost Digitalization in European MSMEs
By Globe Banner | May 7, 2024
The European Union's dual digital and green transitions, as well as enhancing competitiveness of the EU economy, depend on the widespread adoption and productive use of digital tools by firms. While the COVID-19 pandemic accelerated digitalization among companies, the gap between the most and least digitalized firms has expanded, threatening the collective progress towards achieving these goals. With digital technologies becoming increasingly accessible, the key to successful digitalization lies in the capacity of firms to leverage technology for productive use.
Nepal Fiscal Federalism Update
By Globe Banner | May 7, 2024
May 7 2024The Nepal Fiscal Federalism Update is produced by the World Bank Group annually to report on the progress of fiscal federalism in Nepal. According to the report, it identifies gaps between the vision of fiscal federalism laid out in the 2015 Constitution and the current state of play.The update is intended for a wide audience, including policy makers of all three tiers of government, business leaders, the community of analysts and professionals engaged in the fiscal federalism debate, and the general public.This report serves as a crucial tool...
WTO to Open its Doors to the Public on 9 June
By Globe Banner | May 7, 2024
The World Trade Organization (WTO) is set to welcome the public on 9 June for a day filled with activities and insights into the organization's headquarters. WTO Director-General Ngozi Okonjo-Iweala, along with the Chair of the General Council, Petter Ølberg, and representatives of the Swiss authorities, will kick off the day with an opening ceremony.According to WTO's announcement, visitors will have the opportunity to participate in guided tours of the Centre William Rappard in multiple languages, including English, French, and Spanish. These tours will allow guests to...
World Bank approves Kosovo health project with $20 million in funding
By Globe Banner | May 7, 2024
The World Bank's Board of Executive Directors approved today the Kosovo Comprehensive Approach to Health System Strengthening Project (KOMPAS), which aims to strengthen institutional capacity and governance for quality of care in the Kosovo health system.
Gcore Welcomes International Business Visionary, Dr. Philipp Roesler, to Board of Directors
By Globe Banner | May 7, 2024
Luxembourg-based global edge AI, cloud, network, and security solutions provider Gcore has appointed Dr. Philipp Roesler as Board Observer, marking a significant milestone for the company. Dr. Roesler, a highly accomplished business consultant, will play a crucial role in shaping Gcore's strategic direction and aiding in the realization of its global market expansion goals.Dr. Roesler, known for his diverse background in cardiothoracic surgery, federal politics, and business consulting, brings a wealth of experience to his new role. His appointment also includes serving...
WTO members discuss trade aspects of cotton, market trends, and World Cotton Day
By Globe Banner | May 7, 2024
Ambassador Alparslan Acarsoy of Türkiye, the Chair of the WTO agriculture negotiations, facilitated the discussion on the trade aspects of cotton, while Deputy Director-General Jean-Marie Paugam, acting on behalf of Director-General Ngozi Okonjo-Iweala, chaired the meeting on the development dimension of cotton.
About the Digitrans Project
By Globe Banner | May 7, 2024
The completion of a dual, digital, and green transformation in the European Union and the increase in the productivity of EU companies will depend on the broad implementation and productive use of digital tools by enterprises. The COVID-19 pandemic accelerated the digitization of companies but also deepened the gap between the most and least digitized companies. From the perspective of the entire economy, this poses a threat to the successful transformation. In an environment where digital technologies are becoming increasingly available, the key to effective digitization is...
Funding a water-secure future: World Bank's report on global water spending and gaps
By Globe Banner | May 7, 2024
The World Bank's flagship report, "Funding a Water-Secure Future: An Assessment of Public Spending," breaks ground by quantifying, for the first time, government expenditure in the water sector and estimating the financing gaps crucial to meeting global water needs. Highlighting the vital role of water in sustaining life and fostering prosperity, the report is set against the backdrop of rising water insecurity, with billions lacking access to safe water and sanitation, compounded by climate change.
Public asset managers cautious amid inflation and geopolitical uncertainties
By Globe Banner | May 7, 2024
Public Asset Managers remain cautious amid inflation and geopolitical uncertainties: Key Insights from the 20th Annual Executive Forum for Public Asset Managers
World Bank Managing Director Visits Lebanon to Discuss Economic Recovery
By Globe Banner | May 7, 2024
BEIRUT, May 7, 2024 – World Bank Managing Director of Operations Anna Bjerde has arrived on a two-day visit to Lebanon to engage with stakeholders on the latest socio-economic developments in the country and reaffirm the World Bank’s strong support to Lebanon at a time of difficulty. She is accompanied by Ousmane Dione, the new Middle East and North Africa Vice President.During their visit, Bjerde and Dione will meet with Lebanese officials, development partners, and other stakeholder groups. Together with WFP Deputy Executive Director Carl Skau, they will meet with...