Globe Banner News
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...
World Bank highlights need for sustainable chemical management at Berlin forum
By Globe Banner | Sep 5, 2024
Axel van Trotsenburg, the Managing Director of Operations at the World Bank, addressed the Third Berlin Forum on Chemicals and Sustainability on September 5, 2024. His remarks focused on the vision of "A Planet Free of Harm from Chemicals and Waste," a concept adopted during the 5th International Conference on Chemicals Management under Germany's presidency.
NCUA reports Q2 growth in credit union assets but notes rising delinquencies
By Globe Banner | Sep 5, 2024
The National Credit Union Administration (NCUA) has released its second-quarter 2024 financial performance data for federally insured credit unions. The report indicates a rise in total assets by $79 billion, or 3.5 percent, reaching $2.3 trillion over the year ending in the second quarter of 2024. The delinquency rate increased to 84 basis points, up 21 basis points from the same period in 2023. Net income for the first half of 2024 totaled $15.7 billion annually, a decrease of $1.8 billion or 10.1 percent from the previous year.
Sri Lanka completes pandemic preparedness assessment amid aging population concerns
By Globe Banner | Sep 5, 2024
The Sri Lanka Pandemic Preparedness Assessment, conducted from 2020 to 2023, aimed to assist the government in optimizing health investments and enhancing preparedness for future pandemics, with a particular focus on addressing the needs of a rapidly aging population.
Goods Trade Barometer signals upturn in global merchandise trade
By Globe Banner | Sep 4, 2024
The Goods Trade Barometer, a composite leading indicator for global trade, has risen above trend, indicating an upturn in merchandise trade volume. The barometer's latest reading of 103.0 suggests that trade volume growth will remain positive in the second and third quarters of 2024 once official statistics are released.
World Bank reports over 400 million students affected by weather-related school closures since 2022
By Globe Banner | Sep 4, 2024
A new World Bank report reveals that more than 400 million students worldwide have experienced school closures due to extreme weather since 2022. The report, released today, underscores the severe impact of climate change on education in low- and middle-income countries and proposes solutions to leverage education for climate action. It estimates that a one-time investment of $18.51 per child can mitigate the adverse effects of climate shocks.
U.S trade deficit widens to nearly \$79 Billion as imports surge
By Globe Banner | Sep 4, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from $73.0 billion in June, revised.
Nordic economies show signs of recovery amid global modest growth
By Globe Banner | Sep 4, 2024
The global economy continues to experience modest growth, with Europe expected to play a significant role in driving this trend.
Wife of ex-federal agent imprisoned in Nigeria: 'he is now reaching the point of no return'
By Globe Banner | Sep 4, 2024
Yuki Gambaryan, the wife of Tigran Gambaryan, head of financial crime compliance at Binance and a former U.S. federal agent, stated that her husband's health is deteriorating severely. She expressed concern that he may never fully recover. Yuki shared her statement in an Aug. 26 YouTube video.
Public Forum 2024 to discuss re-globalization through trade
By Globe Banner | Sep 4, 2024
The 2024 Public Forum will explore how re-globalization through trade can lead to a better world. It will focus on how green policies, services, and digitalization can contribute to this objective.
Education key in mitigating effects of widespread school closures due to climate change
By Globe Banner | Sep 4, 2024
More than 400 million students have been affected by climate-related school closures since 2022, according to a recent report. The report emphasizes that for less than $20 per student, schools can adapt and minimize learning losses.
U.S trade deficit rises to \$78\.8 Billion in July
By Globe Banner | Sep 4, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from a revised figure of $73.0 billion in June.