News from 2024
World Bank releases comprehensive report on Djibouti's digital economy
By Globe Banner | May 15, 2024
The World Bank has unveiled a comprehensive report on Djibouti's digital economy, shedding light on the country's potential for growth and development in this sector. The report, titled "Djibouti Digital Economy Diagnostic," explores the challenges and opportunities present in Djibouti's digital landscape, underscoring the importance of digital infrastructure development, broadband access and affordability, and requisite digital skills for socio-economic advancement.
World Bank appoints Hugh Riddell as Country Manager for Kyrgyz Republic
By Globe Banner | May 15, 2024
The World Bank has appointed Hugh Riddell as its new Country Manager for the Kyrgyz Republic. Based in Bishkek, Riddell will spearhead the World Bank's engagement in the Kyrgyz Republic, encompassing policy dialogue with government officials, civil society, the private sector, and development partners. He will also manage the World Bank country team and oversee the successful implementation of the Country Partnership Framework.
Europe's struggle with climate disasters: A call for strategic investment in resilience
By Globe Banner | May 15, 2024
Europe is grappling with substantial losses and destruction resulting from climate-related disasters. From 1980 to 2022, weather and climate-related events across the EU resulted in total losses of approximately €650 billion, or around €15.5 billion per year. Recent catastrophes, such as the floods in 2022 and wildfires in 2023, have underscored the vulnerabilities of critical infrastructure, including emergency response buildings like fire stations, as well as roads and power lines.
French digital assets industry association submits twenty-two recommendations to the EU
By Globe Banner | May 15, 2024
The Association for the Development of Digital Assets (Adan), a French association comprised of 200 blockchain and cryptocurrency companies, has submitted a report to the European Union (EU) institutions. The report includes twenty-two recommendations on how Europe can leverage blockchain and cryptocurrency technologies to enhance data protection policies. Adan released its report on May 6, in anticipation of the European Parliament elections scheduled for June.
World Bank supports human capital development agenda in Tajikistan and Central Asia
By Globe Banner | May 15, 2024
DUSHANBE, May 15, 2024 – The World Bank and the Ministry of Finance of the Republic of Tajikistan have joined forces with several other ministries and development partners to host the International Human Capital Forum 2024 in Dushanbe. This forum took place from May 14-15 under the banner "Investing in People for Economic Growth". It emphasized the Tajik government's commitment to prioritizing individuals, particularly women, children, and adolescents from hard-to-reach communities, in their development initiatives.
Europe needs urgent investment in disaster resilience: World Bank
By Globe Banner | May 15, 2024
Europe is urged to increase its investments in disaster resilience, adaptation, and finance response to climate change, according to new reports on the Economics for Disaster Prevention and Preparedness. The reports were released by the World Bank and the European Commission today.
Mauritania tackles urbanization challenges with International Development Association grant
By Globe Banner | May 15, 2024
Mauritania, one of the countries with the highest urbanization rates in Africa, is grappling with climate-related challenges that have severely impacted its urban development. The country's urbanization rate is projected to increase to 3.8% in 2024. However, this growth has not been without obstacles. In August 2022, flooding caused damage equivalent to up to 3% of GDP and destroyed more than 4,000 dwellings.
WTO announces Lao PDR accepts Fisheries Subsidies Agreement
By Globe Banner | May 14, 2024
The World Trade Organization (WTO) has announced that the Lao People's Democratic Republic (PDR) has formally accepted the Agreement on Fisheries Subsidies. The instrument of acceptance from Lao PDR was presented by Ambassador Latsamy Keomany to Director-General Ngozi Okonjo-Iweala, bringing the total number of WTO members who have accepted the agreement to 74.
WTO announces Cambodia accepts Fisheries Subsidies Agreement
By Globe Banner | May 14, 2024
The World Trade Organization (WTO) has announced that Cambodia has formally accepted the Agreement on Fisheries Subsidies. The country's instrument of acceptance was presented by its Minister of Commerce, Cham Nimul, to WTO Deputy Director-General Angela Ellard. This brings the total number of WTO members who have accepted the agreement to 73.
Viet Nam's green transformation: A sustainable success story in the Mekong Delta
By Globe Banner | May 14, 2024
Le Dong Phuong, a seasoned farmer in Viet Nam's Mekong Delta, adjusts the sluice gate to allow water into her parched field. "Rice thrives on water," she states, her voice echoing the wisdom of countless harvests.
Trade data reveal changing patterns in electric vehicle market
By Globe Banner | May 14, 2024
The electric vehicle (EV) market is undergoing a significant transformation, with EVs accounting for over a third of all car imports in value terms by the end of 2023. This radical shift is redefining the automotive industry and reshaping global trade in transport equipment.
World Bank Group debars Jordan-based firm over sanctionable practices
By Globe Banner | May 14, 2024
The World Bank Group has announced a 30-month debarment of Marseille for Engineering & Trading S.A.L. Offshore, a Jordan-based company offering engineering and consulting services. This action is connected to a sanctionable practice as part of the Emergency Operation for Development Project in the Republic of Iraq.
World Bank approves $130.8 million grant for Uganda road project
By Globe Banner | May 14, 2024
The World Bank has approved financing for the Roads and Bridges in the Refugee Hosting Districts/Koboko-Yumbe-Moyo Road Corridor Project (KYM project), which was announced on September 20, 2020. The KYM project is fully funded by a grant of $130.8 million from the World Bank's International Development Association (IDA) Window for Host Communities and Refugees (WHR). This marks the first road project worldwide to be financed through the WHR.
World Bank diagnostic report identifies key growth areas for Armenia
By Globe Banner | May 14, 2024
The World Bank has released its Second Systematic Country Diagnostic (SCD) for Armenia, titled “Beyond Boundaries: Unlocking Potential for a Sustainable Tomorrow”. The report revisits the first diagnostic published in 2017 and provides an updated analysis of the country's development challenges and opportunities.
Utilizing AI & Machine Learning for Improved Urban Planning: A Realization of Jacobs' Vision
By Globe Banner | May 14, 2024
In 1981, urban design expert Allan B. Jacobs noticed a significant detail while visiting a housing development in Tangshan, China - hand-made grates covering many windows and porches. This observation led him to comment that such grates would indicate to visitors in the United States that the neighborhood was considered unsafe. When his Chinese colleague confirmed the same interpretation for China, Jacobs pondered why urban planners did not utilize these simple visual clues to understand neighborhoods.
Mauritius formally accepts WTO's Agreement on Fisheries Subsidies
By Globe Banner | May 14, 2024
Director-General Okonjo-Iweala has expressed her approval of Mauritius's formal acceptance of the Agreement on Fisheries Subsidies, describing it as a "concrete demonstration of Mauritius's commitment to the WTO system and to global efforts to improve the sustainability of the world's marine fisheries." She highlighted that the fisheries sector has been a significant source of employment and exports for Mauritius and continues to play a vital role in its plans to develop its blue economy.
World Bank approves early childhood education project in Kosovo
By Globe Banner | May 14, 2024
On May 14, 2024, the World Bank's Board of Executive Directors approved the Early Childhood Education and Care for Kosovo's Human Capital Project. This initiative aims to enhance the quality and equitable access to early childhood education and care services in Kosovo.
Private sector invests $86B in infrastructure in low- to middle-income countries
By Globe Banner | May 14, 2024
New data from the World Bank reveals that private infrastructure investment in low- and middle-income countries reached $86 billion in 2023. This figure, while representing a 5% decline compared to 2022, is consistent with the average over the previous five years.
Ghana Used Clothing Dealers Association: waste within the country’s secondhand clothes sector lower than claimed
By Globe Banner | May 13, 2024
The Ghana Used Clothing Dealers Association has published a report indicating that less than 5% of secondhand clothing imported into the country qualifies as waste.
Climate adaptation key to sustainable growth in Benin: Report
By Globe Banner | May 13, 2024
According to the second edition of the Benin Economic Update Report, achieving sustainable and resilient economic growth in the coming decades will depend on efforts to adapt and finance climate investments. The report, titled "Adapting to climate change for sustainable, resilient economic growth," analyzes recent economic developments and presents the country's medium-term outlook.