Globe Banner News
WTO mourns Peruvian Ambassador Ana Cecilia Gervasi
By Globe Banner | Sep 9, 2024
DG Okonjo-Iweala expressed her heartfelt condolences: “We are profoundly saddened by the loss of Ambassador Ana Cecilia Gervasi whose tireless work on my recent trip to Peru, 5-6 May 2024, made it such a success. Her hard work and dedication to the principles of multilateralism and fair trade have left an indelible mark on the WTO and its mission. Ambassador Gervasi's contribution to global trade policy will be remembered for years to come. We extend our deepest sympathies to her family, colleagues, President Dina Boluarte, and the Government of Peru during this difficult time.”
DG Okonjo-Iweala meets young trade leaders ahead of public forum
By Globe Banner | Sep 9, 2024
The eight Young Trade Leaders, representing six continents, expressed their enthusiasm for being selected for the initiative. They emphasized their goal to promote a modern and inclusive agenda that addresses the needs of today's youth. The Director-General encouraged the Young Trade Leaders to be bold and creative, urging them to introduce fresh and innovative ideas to the World Trade Organization (WTO). She also highlighted the importance of understanding trade as a tool for sustainable and inclusive development.
WTO's World Trade Report highlights inclusiveness through global economic integration
By Globe Banner | Sep 9, 2024
The World Trade Organization (WTO) has released its 2024 World Trade Report, emphasizing the transformative role of trade in reducing poverty and fostering shared prosperity. WTO Director-General Ngozi Okonjo-Iweala highlighted this point in her foreword, stating, “Perhaps the biggest takeaway from the report is its reaffirmation of trade's transformative role in reducing poverty and creating shared prosperity — contrary to the currently fashionable notion that trade, and institutions like the WTO, have not been good for poverty or for poor countries, and are creating a more...
World Bank funds Rwandan youth skills program
By Globe Banner | Sep 9, 2024
Washington, September 9, 2024 — The World Bank has approved new funding to empower and build the skills of more than 200,000 youths in Rwanda through the Priority Skills for Growth and Youth Empowerment (PSGYE) Program.
Indonesia initiates safeguard probe into polyethylene imports
By Globe Banner | Sep 9, 2024
Indonesia has initiated a safeguard investigation on polyethylene, according to a notification released on September 9, 2024. The Indonesian Safeguards Committee (Komite Pengamanan Perdagangan Indonesia - KPPI) will be handling the investigation.
WTO official urges new strategies linking trade with environmental sustainability
By Globe Banner | Sep 9, 2024
In a recent address in Geneva, Deputy Director-General (DDG) Paugam of the World Trade Organization (WTO) emphasized the need for innovative approaches to integrate trade and environmental policies. Speaking at a forum dedicated to this topic, he highlighted the transformative impact of sustainable economic policies on global trade dynamics.
Philippines' path to sustained economic growth amidst global challenges
By Globe Banner | Sep 9, 2024
Thirty-seven years ago, when this newspaper was reformed under its new name, the average Filipino earned less than one-tenth of the income of the average high-income person. Since then, the Philippine economy has experienced significant growth. Today, that same average Filipino earns almost one-third of the income of his peers in high-income countries — still a large gap but a narrowing one. The value Filipinos add at work has doubled in real terms since the late 1980s. However, this growth was not uniform over the 37 years. The past decade, even with the COVID-19 shock that...
BusinessEurope endorses Draghi's report on EU competitiveness
By Globe Banner | Sep 9, 2024
Welcoming the much-anticipated report on the future of the EU’s competitiveness, presented by Professor Mario Draghi, BusinessEurope President Fredrik Persson expressed his support.
Binance announces appointment of Grant Thornton for global accounting services
By Globe Banner | Sep 7, 2024
Binance announced the appointment of Grant Thornton Singapore to provide global accounting and tax advisory services. Grant Thornton will help Binance align its accounting policies with International Financial Reporting Standards (IFRS) and improve its accounting practices.
New data on vape benefits may soften VP candidate Tim Walz’s early views
By Globe Banner | Sep 6, 2024
The use of vapor technology, or vaping, among young Americans has become a hot topic. Policy makers have previously expressed concern over the popularity of vaping, including by school-age consumers. More recently, the concerns are easing with new data that indicates youth-vaping is on the decline, and vape products may be an effective tool to ween young cigarette smokers off of tobacco.
World Bank advances real-time welfare monitoring initiatives
By Globe Banner | Sep 6, 2024
In today's rapidly changing world, timely development data is crucial for effective policymaking. The World Bank and its partners are working to invest in frontier approaches to monitor poverty and welfare in real time. By combining traditional data sources with cutting-edge technologies and methodologies, the aim is to develop advanced tools to inform decision-making and strengthen the adaptive capacity of policies.
World Bank strengthens banking ties for seven Pacific nations
By Globe Banner | Sep 6, 2024
Seven Pacific Island countries will maintain uninterrupted access to the global financial system through a new World Bank project aimed at strengthening correspondent banking relationships in the region. The initiative, announced by World Bank Group President Ajay Banga during his first visit to the area, is designed to support Fiji, Kiribati, Republic of the Marshall Islands, Samoa, Tonga, Tuvalu, and Vanuatu. Additionally, it includes one regional organization, the Pacific Islands Forum.
World Bank partners with South Sudan on $18M project
By Globe Banner | Sep 6, 2024
The World Bank Group Executive Board of Directors has approved International Development Association (IDA) grant financing to the Government of the Republic of South Sudan (GoSS) to support the strengthening of institutional and human resource capabilities in the public service. The IDA grant of $15 million will be supplemented by GoSS counterpart funding of $3 million, bringing the total project amount to $18 million.
World Bank outlines strategies for sustainable economic growth in Bhutan
By Globe Banner | Sep 6, 2024
Bhutan has achieved significant progress in poverty reduction, human development, and economic growth over the past decades, primarily driven by its hydropower sector and human development policies. To maintain this momentum and generate quality jobs for its youth, the country must diversify its economy beyond hydropower and implement agricultural and financial sector reforms, according to a new World Bank report.
Mariama Cire Sylla named as resident representative for Namibia
By Globe Banner | Sep 6, 2024
Windhoek, Namibia, September 6, 2024 – Effective October 1st, 2024, Mariama Cire Sylla will become the World Bank Group’s joint Resident Representative for Namibia.
Mauritania expands social protection programs amid growing economic challenges
By Globe Banner | Sep 5, 2024
Henniya mint Teyib is among over 200,000 impoverished households registered in the Social Registry database benefiting from the Tekavoul National Social Transfer Program. This initiative is part of several adaptive and transformative social protection programs implemented by the Mauritanian government with support from the International Development Association (IDA), the World Bank's fund for low-income countries.
Efforts improve Ethiopian pre-primary education outcomes through targeted interventions
By Globe Banner | Sep 5, 2024
Eldana, a 6-year-old student in Dire Dawa, Ethiopia, is part of the O-Class, a pre-primary educational program aimed at improving learning outcomes by better preparing students for primary school. The program employs a play-based curriculum and provides teacher training and learning materials. Before O-Class was introduced, primary education completion rates in Ethiopia were at 50%, partly due to irregular attendance and late enrollment.
World Bank Group partners with South Sudan on institutional development
By Globe Banner | Sep 5, 2024
JUBA, September 5, 2024—The World Bank Group Executive Board of Directors has approved International Development Association (IDA) grant financing to the Government of the Republic of South Sudan (GoSS) to support strengthening institutional and human resource capabilities in the public service. The IDA grant of $15 million will join GoSS counterpart funding of $3 million, bringing the total project amount to $18 million.
World Bank approves $40 million project to boost Moldova's disaster preparedness
By Globe Banner | Sep 5, 2024
CHISINAU, September 5, 2024—The World Bank’s Board of Executive Directors approved a $40 million financing package for the Strengthening Moldova’s Disaster Risk Management and Resilience (SMORE) Project. The initiative aims to enhance Moldova’s preparedness for natural hazards and climate-related shocks that threaten lives, homes, and critical infrastructure.
World Bank initiatives boost global access to skilled birth attendance
By Globe Banner | Sep 5, 2024
Pregnancy and childbirth are critical periods for women, particularly in countries with limited access to reproductive and maternal healthcare. While the continuum of reproductive and maternal healthcare is essential for healthy pregnancies and maternal and child survival, skilled birth attendance is especially important for reducing maternal and neonatal mortality risks. However, barriers such as cost, mobility, quality of services, and social norms often prevent women from accessing these services. Disruptive events like the COVID-19 pandemic, disasters, and conflicts...