Globe Banner News
Registration opens for US-Argentina tubular goods dispute hearing
By Globe Banner | Jun 21, 2024
Registration has opened for a public hearing in the US-Argentina dispute concerning tubular goods. The meeting with the parties is scheduled to begin at 9:00 AM (Geneva time) on July 10, 2024, and may continue until 5:00 PM. It will resume on July 11, if necessary, after the third-party session.
IMF announces Madagascar as first beneficiary of Enhanced Cooperation Framework
By Globe Banner | Jun 21, 2024
WASHINGTON, June 21, 2024 – The World Bank Group (WBG) and International Monetary Fund (IMF) announced that the Enhanced Cooperation Framework for Climate Action is now operational. Madagascar will be the first country to benefit from the Framework under the Resilience and Sustainability Facility (RSF) arrangement approved today by the IMF Executive Board, alongside active WBG engagement on climate change in the country.
World Bank approves $900 million funding package for Bangladesh
By Globe Banner | Jun 21, 2024
The World Bank's Board of Executive Directors has approved two projects totaling $900 million to aid Bangladesh in bolstering fiscal and financial sector policies, as well as enhancing urban infrastructure and management for sustainable and climate-resilient growth.
Somalia anticipates 3.1% GDP growth amid improved weather conditions
By Globe Banner | Jun 20, 2024
Somalia's economy is projected to grow by 3.1 percent in 2023, an increase from the 2.4 percent growth seen in 2022. This recovery has been attributed to improved weather conditions and policy reforms implemented by the government aimed at reaching the Heavily Indebted Poor Countries (HIPC) Completion Point.
Experts discuss synergy across IP laws, competition policies in healthcare
By Globe Banner | Jun 20, 2024
Experts Discuss Synergy Across IP, Competition, and Health at Trilateral Webinar
World Bank Group launches academy to enhance global development expertise
By Globe Banner | Jun 20, 2024
A new World Bank Group (WBG) platform, the WBG Academy, aims to equip future leaders with development expertise to help them realize their countries’ full potential. As a key component of the Bank Group’s efforts to transform its approach to knowledge, the Academy will deliver programs that enhance engagement among government, development practitioners, Bank Group staff, and other stakeholders. The goal is to share knowledge, learn from experience, and identify actions needed to solve difficult development challenges.
Solar power expands electricity access in rural Malawi
By Globe Banner | Jun 20, 2024
Lilongwe – As the sun sets in most villages in Malawi, darkness brings anxiety for many, particularly school-going children. Only 23% of Malawi’s population has access to electricity. Many households rely on battery-powered torches, candles, and kerosene lamps for lighting. This struggle impacts daily life, security, and food preparation.
World Bank approves $275 million credit for Cambodia's economic growth
By Globe Banner | Jun 20, 2024
The World Bank Board of Directors approved $275 million in credit to support Cambodia’s efforts to promote long-term economic growth and resilience. The financing, sourced from low-interest International Development Association funds for developing countries, aims to enhance private sector competitiveness, strengthen the country's fiscal position, and provide assistance to the most vulnerable populations.
World Bank approves $535 million for social protection and climate-smart growth in Pakistan
By Globe Banner | Jun 20, 2024
The World Bank’s Board of Executive Directors has approved $535 million in financing for Pakistan to support two projects aimed at enhancing social protection and promoting climate-smart growth in the livestock and aquaculture sectors. The additional financing for the Crisis Resilient Social Protection (CRISP) Program seeks to fortify the country's social protection system and build resilience among poor and vulnerable households. Concurrently, the Sindh Livestock and Aquaculture Sectors Transformation (LIVAQUA) Project will foster climate-smart practices among small and...
World Bank supports modernization of Gambian agriculture through GIRAV initiative
By Globe Banner | Jun 20, 2024
Jongfolo Korta looks at her rice field with satisfaction. She is among the many small farmers in the Eastern region of Jahally, in The Gambia, where agriculture is thriving.
Binance CEO: 'Macron's government has been very supportive of technological innovation'
By Globe Banner | Jun 20, 2024
Binance CEO Richard Teng stated that the French government's regulation and support of technological innovation have benefited the crypto industry. Teng shared his statement on an episode of the Bankless podcast on June 17.
WTO moves forward with formal dispute settlement reform efforts
By Globe Banner | Jun 20, 2024
“Since we last met, work has commenced among experts, facilitated by the six co-convenors,” Ambassador Dwarka-Canabady informed a Heads of Delegation meeting. This was the second meeting since the formal dispute settlement reform process was launched earlier this year.
Croatia embarks on $116M initiative for dual transition
By Globe Banner | Jun 20, 2024
The USD 116.4 million Croatia Digital, Innovation and Green Technology (DIGIT) Project will facilitate the digital transformation and green transition of the Croatian economy, increase resources for applied research and experimental development, and support the authorities' efforts to strengthen institutional capacity to deliver research and innovation policies.
Sint Maarten showcases recovery progress at Results Fair
By Globe Banner | Jun 20, 2024
On a regular busy day in Sint Maarten, the sun casts a glimmering reflection over the island’s blue waters. Philipsburg’s four-street runway is lined with retail shops and restaurants, and businesspeople welcome customers into their premises. This is the calm after the storm.
World Bank discusses strategic partnership with Port of Djibouti
By Globe Banner | Jun 20, 2024
On Tuesday, June 18, a high-level government delegation comprising the Ministers of Economy, Finance and Industry, Infrastructure and Equipment, Trade and Tourism, Budget, along with the President of the Djibouti Port and Free Zones Authority, received a World Bank delegation led by Mr. Nicolas Peltier-Thiberge, Global Director of Transport. The meeting focused on enhancing the partnership between Djibouti and the World Bank.
Global rise in gas flaring reaches highest level since 2019
By Globe Banner | Jun 20, 2024
In 2023, the amount of gas flared worldwide rose by nine billion cubic meters (bcm) to 148 bcm, its highest level since 2019. The increase resulted in an additional 23 million tonnes of carbon dioxide equivalent emissions, an amount similar to adding about five million cars to the roads, finds new satellite data compiled by the World Bank's Global Flaring and Methane Reduction (GFMR) Partnership.
STDF annual report highlights key achievements amid global challenges
By Globe Banner | Jun 20, 2024
The lingering impacts of the COVID-19 pandemic and the ongoing challenges posed by global conflicts and climate change underscore the necessity of the STDF's work in promoting inclusive and sustainable development, the report underlines.
World Bank junior analyst discusses challenges and achievements
By Globe Banner | Jun 19, 2024
Matheus Raka Pradnyatama, a Treasury Junior Analyst at the World Bank, provides insights into his role and experiences. His daily responsibilities include assisting traders in pricing and executing various financial instruments to hedge the World Bank’s balance sheet against interest rate and foreign exchange risks. He also develops cash flow projections for liquidity levels and analyzes funding, loan, and investment portfolios.
Kenya launches analytical program on forced displacement
By Globe Banner | Jun 19, 2024
The Kenya Analytical Program on Forced Displacement (KAP-FD) is a multi-year initiative aimed at enhancing the global understanding of decision-making processes among refugee and host populations. Funded by PROSPECTS, a partnership for improving prospects for host communities and forcibly displaced persons from the Government of the Netherlands, it is implemented by the World Bank and the United Nations High Commissioner for Refugees (UNHCR) in collaboration with UC Berkeley’s Center for Effective Global Action (CEGA). The program's findings are expected to inform government,...
Policy recommendations urge greener transport solutions for Western Balkans
By Globe Banner | Jun 19, 2024
The Western Balkans region is experiencing economic growth but faces challenges in environmental sustainability, particularly in the transport sector. Transport accounts for 15% of the region's greenhouse gas emissions and is the fastest-growing emitting sector. Urgent policy action is needed to address growing energy consumption and emissions and to enable investment for urban interventions. This has environmental implications and affects human health and energy security.