Globe Banner News
World Bank unveils strategy for inclusive growth in Zimbabwe
By Globe Banner | Oct 8, 2024
The World Bank Group has announced the approval of a new Country Engagement Note (CEN) for Zimbabwe, covering the period from 2025 to 2026. This strategy is designed to support Zimbabwe's immediate development priorities and aligns with the nation's Vision 2030 and the National Development Strategy 2021-2025. The CEN aims to contribute to the World Bank Group's overarching goals of ending extreme poverty and promoting shared prosperity.
WTO expands academic network with five new universities for 2025
By Globe Banner | Oct 8, 2024
The World Trade Organization (WTO) Chairs Programme is set to expand its academic network by including five new universities. This expansion will bring the total number of Chairs to 40, enhancing regional and global initiatives and fostering collaboration among academics, policymakers, and trade experts.
WTO discusses legal issues in e-commerce work programme
By Globe Banner | Oct 8, 2024
Members of the World Trade Organization (WTO) have convened to discuss legal and regulatory matters as part of the ongoing work programme on e-commerce. During this meeting, representatives shared insights from their national experiences in shaping a regulatory environment conducive to digital trade. They emphasized the importance of continuing these discussions through dedicated sessions and workshops.
World Bank approves $150 million fund to boost Nepal's disaster response
By Globe Banner | Oct 8, 2024
The World Bank has approved $150 million in contingent financing for Nepal to address natural or climate-induced hazards and health emergencies. The financial support, known as the Nepal Disaster Resilience Development Policy Credit with Catastrophe Deferred Drawdown Option (Cat DDO), aims to bolster policy and regulatory reforms that enhance disaster resilience and improve institutional mechanisms for effective disaster response.
Fubon Life honored as best insurance company in Taiwan by World Finance
By Globe Banner | Oct 7, 2024
Fubon Life has been named the "Best Insurance Company in Taiwan" by World Finance for the thirteenth time, marking a significant achievement in the life insurance industry.
WTO emphasizes role of trade policies in clean energy transition
By Globe Banner | Oct 7, 2024
DDG Ellard has highlighted the critical role of trade policies in facilitating a transition to clean energy. She pointed out that these policies can reduce costs, decarbonize supply chains, harmonize standards, and redirect subsidies towards sustainability. This approach aims to create economic opportunities in emerging low-carbon markets.
Biden reflects on October 7th attack anniversary
By Globe Banner | Oct 7, 2024
President Joe Biden issued a statement marking the one-year anniversary of the October 7th attack in southern Israel.
World Cotton Day highlights economic successes under President Talon's leadership
By Globe Banner | Oct 7, 2024
This year's World Cotton Day, held for the first time on African soil, highlighted Benin's economic achievements under President Guillaume Athanase Talon's leadership. Director-General Okonjo-Iweala commended Benin for its robust economic performance and effective management.
Higher Institute of Sciences & Technology partners with University of Central Missouri
By Globe Banner | Oct 6, 2024
The Higher Institute of Sciences & Technology (HIST), a private university in Algeria, has formalized an agreement with the University of Central Missouri (UCM).
Binance announces inclusion in Argentina's virtual asset registry
By Globe Banner | Oct 5, 2024
Binance has announced its incorporation into Argentina's Virtual Asset Service Providers Registry by the National Securities Commission (CNV), marking its 20th regulatory milestone worldwide. This development allows Binance to expand its full range of services to users in Argentina.
Congressman on constituent imprisoned in Nigeria: 'I don't know if they don't have the ability to treat him or they just don't wish to'
By Globe Banner | Oct 4, 2024
Congressman Rich McCormick, who is also a licensed physician, expressed concern about the physical and mental health of his constituent Tigran Gambaryan, detained in Nigeria since February. McCormick shared his statement during an October 1 podcast.
World Bank approves $800 million support for Uzbekistan's reform initiatives
By Globe Banner | Oct 4, 2024
The World Bank's Board of Executive Directors has approved an $800 million financial package in concessional loans to support Uzbekistan's reform agenda. The aim is to facilitate the country's transition to a more inclusive and resilient market economy.
Nigeria addresses high maternal mortality with new initiatives
By Globe Banner | Oct 4, 2024
Hajiya A'ishatu, a resident of Tudun-Wada city in Nigeria's Gombe State, shares her gratitude for the care she received at the Tudun Wada Primary Health Care Facility. "I had all my children in this facility," she says. "My family is grateful for everything the doctors and nurses did for us here." Her experience reflects Nigeria's ongoing efforts to improve maternal and child health services, particularly in underserved areas.
World Bank approves EUR 80 million loan for Montenegro's fiscal stability
By Globe Banner | Oct 4, 2024
The World Bank Group's Board of Executive Directors has approved a EUR 80 million loan to Montenegro. The funding aims to bolster fiscal sustainability and promote sustainable development in the country. This initiative, known as the Montenegro First Resilient Fiscal and Sustainable Development Policy Financing (DPF), seeks to enhance revenue generation, improve spending oversight, reduce fiscal risks, and address environmental degradation and climate change challenges.
IMF, World Bank Group, WHO collaborate on global pandemic preparedness
By Globe Banner | Oct 4, 2024
The International Monetary Fund (IMF), the World Bank Group (WBG), and the World Health Organization (WHO) have announced a collaborative effort to enhance pandemic preparedness. This initiative aims to provide countries with increased support in preventing, detecting, and responding to public health threats through various means including the IMF’s Resilience and Sustainability Trust (RST), WBG’s financial and technical assistance, and WHO’s expertise.
World Bank approves $250 million project for renewable energy in Lebanon
By Globe Banner | Oct 3, 2024
The World Bank has approved a $250 million project aimed at enhancing renewable energy in Lebanon by restoring electricity grid services and supporting ongoing reforms. This decision comes as Lebanon's electricity sector faces significant operational and financial challenges due to recent crises.
World Bank report reveals gaps between regulations and public services in global economies
By Globe Banner | Oct 3, 2024
The World Bank Group's newly released Business Ready report highlights a disparity between regulatory frameworks and public services across 50 economies. While many nations have established regulations to enhance the business environment, they fall short in delivering the necessary public services to ensure tangible progress. The report evaluates each economy with 1,200 indicators, providing insights into areas requiring improvement and encouraging reforms.
World Bank launches plan targeting gender inequalities in Sierra Leone
By Globe Banner | Oct 3, 2024
The World Bank has introduced the Sierra Leone Country Gender Action Plan (C-GAP), a strategy aimed at reducing gender inequalities and promoting equality across various sectors in Sierra Leone. This initiative is aligned with the World Bank Group’s Sierra Leone Country Partnership Framework for 2021-2026 and the WBG Gender Strategy for 2024-2030.
U.S. Bureau reports rise in personal consumption expenditures across all states
By Globe Banner | Oct 3, 2024
Personal consumption expenditures (PCE) saw an increase across all 50 states and the District of Columbia in 2023, as reported by the U.S. Bureau of Economic Analysis. The changes varied, with Florida experiencing the highest increase at 8.1 percent, while Iowa had the lowest at 4.7 percent. On a national scale, current-dollar PCE rose by 6.4 percent in 2023 following a 9.8 percent rise in 2022.
U.S. ambassador discusses economic cooperation with Ecuador's labor minister
By Globe Banner | Oct 3, 2024
Ambassador Art Brown and Minister of Labor, Ivonne Núñez, recently engaged in discussions focused on U.S. cooperation in projects aimed at promoting economic prosperity to enhance employment opportunities.