Globe Banner News
Community Engagement Exchange invites applications for March-June 2025 program
By Globe Banner | May 24, 2024
The Community Engagement Exchange (CEE) Program is inviting applications for its upcoming three-month exchange set to take place in the United States from March to June 2025.
World Bank supports improved access to social services in Uzbekistan
By Globe Banner | May 24, 2024
The World Bank’s Board of Executive Directors has approved a $100 million concessional loan for Uzbekistan to implement the Innovative Social Protection System for Inclusion of Vulnerable People (INSON) Project. The initiative aims to enhance access to and the quality of social services for vulnerable populations in Uzbekistan.
New regulations on services trade take effect for four more WTO members
By Globe Banner | May 24, 2024
A total of 72 economies — comprising 70 WTO members and two acceding members (Timor-Leste and Comoros) — are committed to implementing the new disciplines on services trade regulation. Ecuador is the latest WTO member to have confirmed its commitment, requesting to become a participant in the Declaration on the Conclusion of Negotiations on Services Domestic Regulation.
Croatia collaborates with World Bank on public sector wage reform
By Globe Banner | May 24, 2024
In 2021, the Government of Croatia (GoC) committed to reforming its public sector wage-setting mechanism with the primary goal of making the system more equitable, transparent, internally consistent, and financially sustainable. This reform was a key element of Croatia’s National Recovery and Resilience Plan (NRRP), endorsed by the European Commission. The GoC recognized that the existing system was inequitable as not all similar jobs were paid equally. It also lacked transparency and clear rules for setting job complexity coefficients and supplements, as well as for job...
EU, Australia commit to implementing recent WTO rulings
By Globe Banner | May 24, 2024
The European Union has affirmed its intention to implement the panel ruling in DS600, a case concerning measures related to palm oil and oil palm crop-based biofuels. The ruling was formally adopted by the Dispute Settlement Body (DSB) on April 26. The EU stated it would require a reasonable period of time for implementation and expressed a willingness to discuss this timeline with Malaysia promptly.
WTO members discuss farm policies amid rising global food insecurity
By Globe Banner | May 24, 2024
On May 24, 2024, WTO members convened to review farm policies and discuss food security and technology transfer. The Chair of the Committee, Mr. Kjetil Tysdal of Norway, facilitated the discussions.
First WTO workshop focuses on improving customs valuation notifications
By Globe Banner | May 24, 2024
The first World Trade Organization (WTO) workshop on customs valuation notifications concluded in Geneva on May 24, 2024. Under WTO rules, members are required to notify developments in national laws and regulations on customs valuation and a checklist of issues regarding their legislation. They must also notify the implementation of the Decision on Interest Charges and the Decision on the Valuation of Carrier Media Bearing Software.
Syria's economy continues contraction as household welfare declines further
By Globe Banner | May 24, 2024
The World Bank has released two reports detailing the worsening economic situation in Syria and the significant decline in household welfare. The "Syria Economic Monitor Spring 2024: Conflict, Crises and the Collapse of Household Welfare" examines Syria's macroeconomic policy within the context of ongoing conflict and regional instability. The report includes findings from "The Welfare of Syrian Households after a Decade of Conflict," which assesses welfare changes from the pre-conflict period (2000-2010) to mid-2022.
Gambian economy shows resilience amid global challenges: World Bank report
By Globe Banner | May 24, 2024
Banjul, May 24, 2024 – The Gambia's economy has shown resilience amid global and regional uncertainties, according to The Gambia’s Fourth Economic Update – Spring 2024. Despite a sluggish global environment, the country's real GDP grew by 5.3% in 2023, signaling continued recovery from the COVID-19 pandemic and persistent external headwinds.
Nigerian politician: 'there is an undeniable decline in our judicial system'
By Globe Banner | May 23, 2024
Peter Obi, the former governor of Anambra State in Nigeria, has expressed concern over the decline of Nigeria's judicial system. He warns that this deterioration threatens stability, human rights, and institutional integrity. Obi communicated these concerns in a post dated May 15, which detailed his keynote address at Godfrey Okoye University in Enugu.
World Bank endorses new partnership framework with Togo
By Globe Banner | May 23, 2024
The World Bank Group (WBG) has endorsed a new Country Partnership Framework (CPF) for Togo, granted a special waiver for the country's access to the Prevention and Resilience Window, and approved three new loans from the International Development Association (IDA) totaling over $600 million. These measures aim to strengthen prevention and resilience, increase access to reliable electricity, improve public administration performance, and support refugees and host communities in northern Togo.
World Bank approves $30 million grant for social safety nets in Central African Republic
By Globe Banner | May 23, 2024
The World Bank has approved a $30 million grant from the International Development Association (IDA) to support the Adaptive and Productive Social Safety Nets Project in the Central African Republic (CAR). The initiative aims to enhance social protection for impoverished and vulnerable families in specific regions and improve the responsiveness of delivery systems to shocks.
Lebanon's poverty rate triples over decade amid prolonged crisis
By Globe Banner | May 23, 2024
Poverty in Lebanon has more than tripled over the past decade, reaching 44% of the total population, according to a new World Bank report released today. Based on a recent household survey covering the five governorates of Akkar, Beirut, Bekaa, North Lebanon and most of Mount Lebanon, the report finds that one out of every three Lebanese in these areas was poverty-stricken in 2022. This underscores the critical need to strengthen social safety nets and create jobs to help alleviate poverty and address widening inequality.
Cambodia's coordinated efforts bolster preparedness against future pandemics
By Globe Banner | May 23, 2024
When the World Health Organization declared COVID-19 a pandemic on March 11, 2020, few countries were prepared for the virus that was rapidly spreading across the globe. Cambodia was no exception. However, to its credit, the Ministry of Health responded swiftly with a COVID-19 National Action Plan that introduced measures to improve case detection and management and increase the availability of critical medical supplies and equipment. The action plan also initiated broader measures to strengthen Cambodia’s health system that today are providing a sure footing for Cambodia to...
Island nations aim for resilience through blue economy initiatives
By Globe Banner | May 23, 2024
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
By Globe Banner | May 23, 2024
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
By Globe Banner | May 23, 2024
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
By Globe Banner | May 23, 2024
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
By Globe Banner | May 23, 2024
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
By Globe Banner | May 22, 2024
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.