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Caught in the crosshairs of escalating global crises, Small Island Developing States (SIDS) will meet from May 27-30, 2024, with the international community to discuss ways to tackle issues including their vulnerability to climate change impacts, exposure to pollution, and economic headwinds.

World Bank approves $40 million project for job skill improvement in Cambodia

Approximately 33,000 Cambodians are expected to receive improved training and labor market services following the approval of a $40 million credit by the World Bank’s Board of Executive Directors on Thursday.

World Bank reports severe economic downturn for Palestine amid ongoing conflict

WASHINGTON, May 23, 2024 – The World Bank has issued its latest update on the impact of the conflict in the Middle East on the Palestinian economy. The report draws on the latest available data and analysis to assess the ongoing impact of the conflict on the Palestinian economy.

World Bank supports Malawi's fiscal governance with $80 million grant

The World Bank is providing support to improve resource mobilization, budget execution, and transparency of public finances to assist the achievement of results under the Malawi Public Finance Management (PFM) Strategy 2023-2028.

Efforts promote coexistence between Panamanian farmers and jaguars

Panama is recognized for its rich biodiversity, with forests that form a natural corridor connecting jaguar habitats from Mexico to Argentina. However, this environment faces significant challenges, with over 40 percent of jaguar habitat lost due to agricultural expansion and deforestation. Cattle farming has been a primary driver of this loss, leading to increased human-wildlife conflict as jaguars prey on cattle, prompting retaliatory killings by farmers.

World Bank highlights importance of data for diversified growth in Algeria

The Spring 2024 Algeria Economic Update underscores the country's dynamic economic activity and slowing inflation while highlighting the importance of data in supporting Algeria’s efforts toward sustainable, diversified growth.

Qatar joins international agreement to curb harmful fisheries subsidies

On May 22, 2024, Qatar formally accepted the Agreement on Fisheries Subsidies. This move was acknowledged by Director-General Okonjo-Iweala, who stated, “I am delighted that Qatar has formally accepted the Agreement on Fisheries Subsidies. By taking this step, Qatar has shown its support for sustainable fisheries and combatting illegal fishing in the Gulf region. Qatar also has affirmed the WTO's vital role in delivering global public goods — in this case contributing to marine sustainability by curbing subsidies to harmful fishing practices. The swift entry into force of the...

World Bank aids Vanuatu's resilience against natural disasters

Over the course of 10 years, the World Bank has supported efforts by the government of Vanuatu to build the skills and institutions needed to manage frequent volcanic eruptions, earthquakes, and increasingly severe cyclones. This collaboration with one of the world’s most climate-vulnerable countries could serve as a model for other small island states facing similar challenges.

Investing in Moldova's forest biodiversity aims at sustainability

Biodiversity sustains human life by helping keep air and water clean and providing nutritious food. Every plant and animal, regardless of size, plays a crucial part in ecosystems, the health of which depends on how humans manage biodiversity.

Ambassador Rana praises journalists at awards ceremony amid calls for calm in Slovakia

Ambassador Rana addressed attendees at the Journalism Awards, expressing support for Prime Minister Fico and the people of Slovakia during a challenging period.

World Bank emphasizes integrating biodiversity into global economic planning

The World Bank Group’s mission is to end poverty on a livable planet. With more than 50 percent of global GDP—$44 trillion in economic resources—dependent on nature, it is critical to understand the economic impact of biodiversity to achieve this mission.

Asia-Pacific officials attend regional trade policy course in Shanghai

A regional trade policy course is currently underway in Shanghai, bringing together government officials from the Asia-Pacific region. The initiative aims to deepen participants' understanding of the World Trade Organization (WTO) and its agreements, rules, and procedures.

Renovation plans announced for Švenčionys Fire Station in Lithuania

The United States Army Corps of Engineers (USACE) has announced a solicitation for the renovation of the Švenčionys Fire and Rescue Station in Lithuania.

WTO discusses strategies post-MC13 focusing on key trade negotiations

Speaking in her role as Chair of the WTO's Trade Negotiations Committee, DG Okonjo-Iweala reported that consultations held with members since the last General Council meeting in March demonstrated a “constructive spirit,” with all parties “eager to complete the unfinished business from Abu Dhabi.”

Binance assists Taiwan authorities with money-laundering scheme

Binance has announced on its blog that the company's Financial Crimes Compliance (FCC) department collaborated with Taiwan's Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to dismantle a cryptocurrency-backed money laundering scheme. The case reportedly involves approximately NT $200 million (U.S. $6 million).

Iran International report analyzes Iran's propaganda expenditures

The Iranian government has reportedly allocated a minimum of $600 million (360 trillion rials) to its propaganda efforts for the current calendar year, according to a new report by Iran International. If accurate, this figure may represent only a fraction of the total sum.

World Bank pledges support for Bulgaria's data governance efforts

The World Bank has announced its intention to provide analytical and advisory support to the Bulgarian Ministry of eGovernment. This assistance aims to bolster the strategic, organizational, and technical foundations for data governance and data spaces in Bulgaria. The move aligns with Bulgaria's efforts to comply with the European Union's (EU) strategy for data, which seeks to increase the availability of data for economic and societal use while ensuring adherence to European rules regarding privacy, data protection, and competition.

Global carbon pricing revenues hit record $104 billion in 2023

In 2023, carbon pricing revenues reached a record $104 billion, according to the World Bank’s annual “State and Trends of Carbon Pricing 2024” report released today. The report indicates that there are now 75 carbon pricing instruments in operation worldwide. More than half of the collected revenue was allocated to fund climate and nature-related programs.

WiPro appoints Chief Operating Officer

Wipro has announced the appointment of Sanjeev Jain as its new Chief Operating Officer (COO), succeeding Amit Choudhary. Jain, who joined the company in 2023, will assume his new role following Choudhary's departure.

1 in 3 Malaysians worry about scams in real-time payments