News from April 2024
New World Bank Report Urges Ghana to Bolster Health System Resilience in Face of Climate Change
By Globe Banner | Apr 30, 2024
A new World Bank report released today highlights the urgent need for Ghana to strengthen its health system in response to the challenges posed by climate change. Titled Climate and Health Vulnerability Assessment (CHVA) for Ghana, the report emphasizes the risks and gaps in the country's health sector and offers recommendations for policy actions to enhance resilience.The report points out that climate change in Ghana is leading to extreme weather events such as floods and droughts, resulting in food insecurity, injuries, and the risk of death for 2 million people. It...
BBB National Programs Applauds Launch of Global CBPR Forum
By Globe Banner | Apr 30, 2024
MCLEAN, Va. , April 30, 2024 /PRNewswire/ -- BBB National Programs has commended the U.S. Department of Commerce's initiative to establish the Global Cross Border Privacy Rules (CBPR) Forum, marking a significant step in enhancing international collaboration on cross-border data flows.Dona Fraser, Senior Vice President, Privacy Initiatives at BBB National Programs, emphasized the pivotal role of data privacy in international business operations, stating, "In an economy where businesses extend operations across borders, data privacy is the cornerstone of trust and...
Intensified Preparations for 2024 Global Review of Aid for Trade
By Globe Banner | Apr 30, 2024
Preparations for the upcoming 2024 Global Review of Aid for Trade are well underway. The World Trade Organization (WTO) Secretariat has outlined the agenda for the event, which includes high-level plenaries and expert discussions focusing on the role of trade in food security, digital connectivity, and development strategies. Over 300 speakers are expected to participate, with WTO Director-General Ngozi Okonjo-Iweala and OECD Secretary-General Mathias Cormann set to launch the joint flagship report, "Aid-for-Trade at a Glance."
Aid for Trade Global Review to discuss trade mainstreaming, food security, connectivity
By Globe Banner | Apr 30, 2024
The upcoming Aid for Trade Global Review, scheduled for April 30, 2024, will be a significant event focusing on trade mainstreaming, food security, and connectivity. The event will feature four high-level plenaries and close to 55 sessions over two and a half days, bringing together ministers, heads of international agencies, and trade and development experts.According to Director-General Ngozi Okonjo-Iweala, the event aims to examine the support provided to developing economies to enhance their trade capacity, with a particular focus on the financing needs and how the...
Powerful Coalition Launched to Drive African Development, Fueled by IDA
By Globe Banner | Apr 30, 2024
On April 29 in Nairobi, Kenya, African leaders and finance ministers gathered to discuss economic reforms aimed at accelerating the continent's development. The summit, co-hosted by Kenya and the World Bank, highlighted Africa's potential for growth and transformation.Dr. William Ruto, President of Kenya, expressed the urgency for change, stating, “Our people and we, the leaders of Africa, are impatient for change and we want to transform the continent at this moment of tremendous opportunities.”Sellah Bogonko, CEO of Jacob’s Ladder, emphasized the importance of...
Markets4you Teams Up with AB de Villiers to Celebrate 17 Years in Business
By Globe Banner | Apr 30, 2024
Markets4you, a prominent multi-asset trading platform, has marked its 17th anniversary by collaborating with South African cricket legend AB de Villiers as its brand ambassador. This partnership signifies a shared commitment to excellence, passion, and dedication in their respective fields.Marina Strausa, CEO of Markets4you, expressed her excitement about the collaboration, stating, "Partnering with AB de Villiers represents a significant milestone for us, symbolizing establishing a deep and meaningful relationship." She emphasized how AB's talent and sportsmanship align...
Costa Rica and the World Bank Group Renew Partnership to Promote More Inclusive and Sustainable Economic Growth
By Globe Banner | Apr 30, 2024
WASHINGTON, D.C., April 30, 2024 – The World Bank Group (WBG) and Costa Rica have renewed their partnership through the endorsement of the Costa Rica Country Partnership Framework 2024–2028. According to Nogui Acosta, Costa Rica’s Minister of Finance, the new strategy aims to promote private sector-led economic growth, strengthen human capital, and build resilience to various challenges.Acosta stated, “The partnership between Costa Rica and the World Bank underscores our commitment to more broad-based, sustainable growth. To preserve the country’s social contract and...
Impartner Continues Winning Streak, Securing Prestigious Industry Accolades
By Globe Banner | Apr 30, 2024
SALT LAKE CITY, April 30, 2024 /PRNewswire/ -- Impartner, the fastest-growing and most award-winning provider of reseller and partner management technologies, has recently added to its list of accolades, showcasing its dedication to innovation and excellence in the industry.The company was honored with the Gold Stevie® Award in the Business-to-Business Product category at the 22nd Annual American Business Awards® for its Google for the Channel and Partner Marketing Automation solutions. According to Impartner's Vice President of Product, Gary Sabin, "It's truly rewarding...
Hybrid Integration Platform Market Projected to Reach $20.49 billion by 2030
By Globe Banner | Apr 30, 2024
A report by 360iResearch has projected that the Hybrid Integration Platform (HIP) market is set to grow from $9.98 billion in 2023 to $20.49 billion by 2030, at a CAGR of 10.82% over the forecast period. The rise of HIPs is transforming the business landscape, enabling seamless integration across various services, data, and applications. This innovative approach allows organizations to enhance their IT infrastructure and embrace the efficiency of cloud services, driving digital transformation efforts worldwide.Governments globally are leveraging HIPs to spearhead digital...
The World Bank Reinforces Its Support for the Development of Resilient Tourism and Blue Economy in Cabo Verde
By Globe Banner | Apr 30, 2024
WASHINGTON, April 30, 2024 - Today, the World Bank has approved a credit from the International Development Association in the amount of $30 million for the Second Additional Financing of the Resilient Tourism and Blue Economy Development Project in Cabo Verde, increasing the overall value of this project, initially approved in May 2022, to $75 million.This new funding emphasizes the importance of tourism and its connections to the blue economy. Its main goal is to support Cabo Verde's overarching strategies for sustainable tourism and the blue economy, as outlined in the...
World Bank and ARTF Provide Additional Financing to the Afghanistan Community Resilience and Livelihoods Project
By Globe Banner | Apr 30, 2024
WASHINGTON, April 30, 2024—The World Bank’s Board of Executive Directors approved a $84 million grant from the International Development Association for the Afghanistan Community Resilience and Livelihoods Project, which complements $70 million in additional financing from the Afghanistan Resilience Trust Fund.Melinda Good, World Bank Country Director for Afghanistan, expressed, "In the past 18 months, the project has laid the foundation for an effective service delivery platform and operational model at scale for delivering jobs, providing essential services and assets,...
NEPAL: Government, Development Partners Launch Public Expenditure and Financial Accountability Assessments
By Globe Banner | Apr 30, 2024
Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, as stated in the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.During the launch of the PEFA reports, Honorable Barsha Man Pun, Minister of Finance, emphasized the importance of public financial management, stating, “Public financial management has the power to change people's lives and livelihoods.” Minister...
Lao Economic Growth Remains Subdued Says World Bank Report
By Globe Banner | Apr 30, 2024
Economic growth in the Lao People's Democratic Republic (PDR) has been below 2019 levels and is expected to continue at a slow pace in 2024, according to a report released by the World Bank. The report, titled "Accelerating Reforms for Growth," highlights various factors contributing to the subdued growth in the country.The World Bank stated that Lao GDP grew by 3.7% in 2023, with positive contributions from sectors such as tourism, transport, logistics, and mining. However, challenges such as economic instability, low worker skills, out-migration of labor, and a...
World Bank Supports Armenia’s Green, Inclusive and Sustainable Development
By Globe Banner | Apr 29, 2024
Yerevan, April 25, 2024 - The World Bank’s Board of Executive Directors has approved a Development Policy Operation (DPO) in the amount of $116 million equivalent for Armenia to enable reforms aimed at promoting green, resilient, and inclusive development. The DPO includes loan financing from the International Bank for Reconstruction and Development (IBRD) in the amount of EUR 92.3 million ($100 million equivalent) and a grant from the Global Concessional Financing Facility (GCFF) in the amount of $16 million."This development policy operation supports a package of...
Building inclusive and resilient schools in Honduras
By Globe Banner | Apr 29, 2024
Darlin Elvir Gonzalez, a resident of Comayagua, Honduras, expressed her satisfaction with the inclusive features of the newly reconstructed Marcelino Pineda Elementary School, where her son attends. She stated, "I am pleased that the newly reconstructed Marcelino Pineda Elementary School, which my son attends, has included accessible features, such as ramps."According to a World Bank Disability Inclusion report on Latin America and the Caribbean, the situation for persons with disabilities in Honduras is challenging, with almost seven in ten households with disabilities...
Moldova to Benefit from Better Roads and Enhanced Border Crossings with World Bank Support
By Globe Banner | Apr 29, 2024
CHISINAU, April 29, 2024 — The World Bank’s Board of Executive Directors has approved a $105.98 million financing package for the Moldova Rural Connectivity Project (MRCP). This project aims to enhance road connectivity in rural communities, improve transit through border crossings with Romania, and strengthen crisis response capabilities in Moldova.The MRCP will focus on rehabilitating and upgrading approximately 95 km of three priority local roads with climate-resilient designs. These improvements will provide better connectivity to markets, schools, healthcare...
Persistent Gender Disparities Hinder Women's Safety and Productivity in Zimbabwe
By Globe Banner | Apr 29, 2024
In a recent assessment of gender-based violence (GBV) in Zimbabwe, it was revealed that a significant number of women in the country continue to face physical and sexual violence. According to the assessment, approximately 39.4% of women have experienced physical violence, while an estimated 11.6% have been victims of sexual violence.While Zimbabwe has made efforts to address GBV by implementing various laws and policies, there is still a need for more effective enforcement and legal frameworks to combat these issues. Eneida Fernandes, the World Bank Country Manager for...
African Leaders Unveil Bold Transformation Agenda at Summit, Backed by Powerful New Coalition
By Globe Banner | Apr 29, 2024
Leaders from across Africa gathered at a major summit in Nairobi to pledge ambitious economic reforms, with the International Development Association (IDA) at the forefront of their strategy. The summit aimed to improve lives and create new opportunities, with a focus on strengthening governance, unlocking private sector potential, and addressing climate change.President of Kenya, Dr. William Ruto, emphasized the urgency for change and the importance of stronger donor contributions to IDA21, stating, “Our people and we, the leaders of Africa, are impatient for change and...
Members review reforms to facilitate participation in rules of origin work
By Globe Banner | Apr 29, 2024
The interim Chair of the committee, Mr Guna Seelan Balakrishnan from Malaysia, highlighted the implementation of measures to improve the functioning of the committee and facilitate the work of delegates. He mentioned, "A total of seven measures were agreed and have already been implemented, such as using an e-Agenda and an annotated agenda to facilitate the work." The Secretariat provided updates on the status of these measures and demonstrated some of the tools to members.Regarding the Draft Transparency Decision on Non-Preferential Rules of Origin, the interim Chair...
Philip Morris faces SEC Whistleblower complaint, claims it bribed Argentina National Congress to tax tobacco rivals
By Globe Banner News Service | Apr 27, 2024
The CEO of an Argentinian cigarette maker has filed a whistleblower complaint with the U.S. Securities and Exchange Commssion, accusing Virginia-based tobacco giant Philip Morris of bribing members of that country's National Congress in order "to maintain a market monopoly and manipulate product pricing structures to the detriment of both public health and fair market competition."