News from June 2024
Nepal's YETI project aids thousands with temporary employment
By Globe Banner | Jun 8, 2024
Usha Bhujel resides in Rainas Municipality in Lamjung of Gandaki Province. Originally from Gorkha, Usha moved to Lamjung with her husband after marriage. Married at 19, she worked in agriculture, growing seasonal vegetables and other crops on her family's land. Her husband worked abroad as a security guard before returning due to the COVID-19 pandemic.
Nepal's youth find purpose through Youth Employment Transformation Initiative
By Globe Banner | Jun 8, 2024
Gujri Devi Ban is from Aurahi Rural Municipality, Dhanusha, in Nepal’s Madhesh Province. She has been part of the temporary employment program under the Youth Employment Transformation Initiative (YETI) Project since 2021. She is currently employed in the construction and maintenance of gardens around the Aurahi Rural Municipality offices.
World Bank launches enterprise survey in Malaysia for B-READY project
By Globe Banner | Jun 7, 2024
The World Bank’s Enterprise Analysis Unit is currently collecting data to gather feedback from private sector enterprises on the state of the business environment among firms in Malaysia. This initiative is part of the World Bank Enterprise Surveys and will run from March to November 2024.
Nepalese cities transform with IDA-backed urban governance initiative
By Globe Banner | Jun 7, 2024
Far from the bustling streets of Kathmandu, Nepal’s federal capital, a quiet revolution is transforming secondary cities across the country. This transformation is led by local governments as they take charge of their development agendas under the federal structure introduced in 2017.
WTO enhances e-GPA Gateway for better access to government procurement data
By Globe Banner | Jun 7, 2024
The revamped e-GPA Gateway provides enhanced access to information on the commitments and procurement systems of WTO members that are parties to the GPA 2012. The market access opportunities available under the GPA 2012 are estimated to be worth more than USD 1.7 trillion annually.
US sanctions target Ecuador's largest drug trafficking group
By Globe Banner | Jun 7, 2024
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on Ecuador's Los Lobos Drug Trafficking Organization and its leader, Wilmer Geovanny Chavarria Barre, also known as "Pipo."
WTO concludes advanced course on analyzing trade in services
By Globe Banner | Jun 7, 2024
The World Trade Organization (WTO) concluded its advanced course on analyzing trade in services in Geneva. Participants were trained to use data, statistics, and regulatory information from the WTO-World Bank Integrated Trade Intelligence Portal (I-TIP) for Services. The portal provides comprehensive information on services trade policies. Hands-on exercises helped participants enhance their ability to analyze and utilize results drawn from these analytical tools and statistical databases.
WTO reviews progress in reducing technical barriers to trade
By Globe Banner | Jun 7, 2024
The new chairperson of the TBT Committee, Daniela García (Ecuador), has assumed her role from outgoing chairperson Anna Vitie (Finland). García highlighted a new WTO brochure that underscores 10 key outcomes from the TBT Committee's work in 2023. Members expressed appreciation for Vitie's tenure, during which significant decisions on conformity assessment and transparency were made, including the Ministerial Declaration on Strengthening Regulatory Cooperation to Reduce Technical Barriers to Trade.
Urgency stressed in WTO’s efforts against harmful fisheries subsidies
By Globe Banner | Jun 7, 2024
On the eve of World Oceans Day, the urgency of the World Trade Organization's (WTO) work on fisheries subsidies has been highlighted. In a video message, Director-General Ngozi Okonjo-Iweala stated, “Every year, governments around the world spend tens of billions of dollars in support of unsustainable fishing. About half of assessed marine fish stocks are already overfished, and these subsidies make the problem worse. In 2022, the WTO's 164 member governments reached a new global agreement on curbing harmful fishing subsidies. Over 75 members have ratified this agreement, and...
World Bank report highlights steps for reducing poverty sustainably in Bangsamoro
By Globe Banner | Jun 6, 2024
Maintaining peace, supported by increasing farm profitability, diversifying income sources, enhancing access to basic social services, and upgrading infrastructure will accelerate poverty reduction in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), according to the World Bank’s Philippines Economic Update released today.
Former DOJ official: U.S. 'should immediately cease the transfer of forfeited funds to Nigeria' until detained US citizen is released
By Globe Banner | Jun 6, 2024
Andrew Adams, a partner at the New York office of Steptoe & Johnson LLP and a former acting Deputy Assistant Attorney General for the National Security Division of the Department of Justice (DOJ), said if the DOJ stops sharing forfeited funds with Nigeria, it can express its "objection to Nigeria’s abuse of its police power" and encourage the release of Tigran Gambaryan, a former U.S. federal agent who has been detained by the Nigerian government since February 26. Adams shared his statement in a May 29 opinion piece.
Marine economy's contribution to US GDP rises to $476 Billion in 2022
By Globe Banner | Jun 6, 2024
The U.S. Bureau of Economic Analysis (BEA) has released the Marine Economy Satellite Account statistics for 2022, revealing that the marine economy contributed $476.2 billion, or 1.8 percent, to the current-dollar U.S. gross domestic product (GDP). This marks an increase from $424.2 billion in 2021. The marine economy also accounted for 1.7 percent, or $776.9 billion, of current-dollar gross output.
World Bank approves $400 million project for environmental reform in Dominican Republic
By Globe Banner | Jun 6, 2024
The World Bank has approved a new project to assist the Dominican Republic in promoting key institutional reforms for climate resilience, reducing water, soil, and air pollution, and enhancing natural resource protection. The US$400 million project aims to strengthen the government's institutional and financial capacity for environmental protection, with positive effects on public health and the livelihoods of communities involved in tourism and fishing activities.
West African nations combat coastal erosion through collaborative efforts
By Globe Banner | Jun 6, 2024
When the powerful waves crashed onto the shores of Aného, Togo, and Grand Popo, Benin in April 2024, communities of these neighboring West African border towns were unfazed. Seeking relief from the hot sun, they gathered under coconut trees to enjoy the fresh sea breeze.
WTO reports increased impact from technical assistance activities
By Globe Banner | Jun 6, 2024
Over 16,000 beneficiaries participated in over 300 technical assistance activities in 2023, marking a 32 percent increase in participation and a 24 percent rise in activities compared to 2022. Although the number of participants has not yet fully returned to pre-pandemic levels, participants from least-developed countries (LDCs) increased by 40 percent compared to 2022. Requests for national activities soared by 60 percent following record lows during the 2020-22 period.
US Embassy announces upcoming vehicle procurement for Ashgabat Post
By Globe Banner | Jun 6, 2024
The United States Embassy in Turkmenistan has released a pre-solicitation notice regarding vehicle procurement for the Ashgabat Post.
Uzbekistan progresses towards wto membership amid significant economic reforms
By Globe Banner | Jun 6, 2024
Director-General Ngozi Okonjo-Iweala expressed gratitude to President Shavkat Mirziyoyev for his leadership and commitment to Uzbekistan's World Trade Organization (WTO) accession, which has significantly accelerated the negotiating process. Meetings were also held with Deputy Prime Minister Jamshid Khodjaev, Chair of the Inter-Agency Commission on WTO Accession, and Advisor to the President on Economic Development Ravshan Gulyamov. They discussed Uzbekistan's progress following the latest Working Party meeting on May 24.
Uzbekistan discusses economic reforms amid ongoing efforts for WTO accession
By Globe Banner | Jun 6, 2024
Her Excellency, Ms. Saida Mirziyoyeva, His Excellency, Deputy Prime Minister Jamshid Khodjaev, His Excellency, Mr. Ravshan Gulyamov, and Excellency Mr. Sodik Safoev, First Deputy Chairman of the Senate, gathered with representatives from the IMF and the World Bank to discuss Uzbekistan’s economic reforms and its accession process to the WTO.
World Bank reports slight economic improvement for Cambodia driven by export revival
By Globe Banner | Jun 6, 2024
Cambodia's economic activity showed signs of improvement in the first quarter of 2024, driven by a resurgence in services and goods exports, despite weak domestic demand, according to the World Bank's Cambodia Economic Update released today.
World Bank extends PROBLUE Ocean Trust Fund through 2030
By Globe Banner | Jun 6, 2024
Global demand for blue economy initiatives is soaring, prompting PROBLUE to seek additional funding to support countries and regions in their development efforts.