News published on Globe Banner in May 2024

Ohmium International has declared its involvement in the first green hydrogen project in Croatia. The company will supply Proton Exchange Membrane (PEM) electrolyzers to IVICOM, a Croatian company building a 10-megawatt green hydrogen plant at the INA Rijeka Refinery.

WTO announces Mauritius accepts Fisheries Subsidies Agreement

The World Trade Organization (WTO) has declared that Mauritius has officially accepted the Agreement on Fisheries Subsidies. The instrument of acceptance from Lao PDR was presented by Ambassador Usha Chandnee Dwarka-Canabady to Director-General Ngozi Okonjo-Iweala, bringing the total number of WTO members who have accepted the agreement to 75.

Uzbekistan plans new solar plant with World Bank Group support

TASHKENT, May 21, 2024 — A new solar photovoltaic plant and battery energy storage system (BESS) are set to be constructed in Uzbekistan, thanks to a financial package signed by the World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan. The project, which will have a capacity of 250 megawatts (MW) with a 63-MW BESS, aims to provide clean and reliable electricity access to approximately 75,000 households.

Zambia signs agreement with World Bank to reduce carbon emissions

Communities in Zambia's Eastern Province are set to benefit from a new Emission Reductions Purchase Agreement (ERPA) signed by the Government of the Republic of Zambia and the World Bank’s BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL). The agreement will provide up to $30 million in results-based payments, rewarding these communities for their efforts to reduce around three million metric tons of CO2e emissions between 2024 and 2029.

Addressing global disparities in access to water: A call for action

The global disparity in access to water resources and services, as well as the impacts of climate-related water shocks, necessitates a comprehensive response to enhance water accessibility, bolster climate resilience, alleviate poverty, and promote shared prosperity.

World Bank report calls for urgent action on global water security

Water security is a crucial component of poverty reduction, yet billions worldwide may continue to lack access to clean water unless urgent action is taken, according to a report released by the World Bank on May 20, 2024. The report highlights the necessity of safe drinking water and sanitation, reliable water supply for agriculture and industry, and protection against droughts and floods for human and economic development.

Korea to host World Bank's IDA 21st replenishment meeting in December 2024

Donors are preparing to announce their pledges for the International Development Association's (IDA) 21st replenishment cycle in Seoul, Korea in December 2024. This meeting is a crucial opportunity to increase commitments and reorient the world towards eradicating poverty on a habitable planet. The IDA, known as the world's largest global solidarity fund for the poor, assists countries in planning their own future.

US condemns Russian cyber attacks on EU nations

The United States has issued a strong condemnation of cyber activities attributed to Russia's General Staff Main Intelligence Directorate, known as APT28.

U.S. State Department issues global caution for travelers

By Globe Banner | May 18, 2024

The Department of State has issued a security alert advising U.S. citizens overseas to exercise increased caution due to potential threats.

National Whistleblower Center urges United States to secure Tigran Gambaryan's release from Nigerian custody

The National Whistleblower Center (NWC) has sent a letter to the Bureau of Consular Affairs, urging the United States to exert its utmost effort in securing the release of Tigran Gambaryan. Gambaryan, who serves as a compliance officer for Binance, has been detained in Nigeria for nearly three months.

World Bank approves substantial investment for rural water access in Pernambuco, Brazil

On May 17, 2024, the World Bank Board of Directors approved a significant new investment aimed at increasing access to water and sanitation for approximately one million people in rural Pernambuco, located in northeastern Brazil.

Webinar explores digital tech's role in enhancing supply chains

The event brought together industry experts from the private sector to delve into the potential of digital technologies to transform supply chain procedures. Roy Santana, Senior Counsellor at the WTO's Market Access Division, moderated the session, emphasizing the role of digital technologies in improving collaboration between government and the private sector.

Efforts to conserve endangered species in the Amazon region

The Amazon region, renowned for its immense biodiversity, is home to 10% of the world's known species. This rich diversity contributes significantly to the ecosystem goods and services that form the foundation of the Amazon region's economies, offering access to food, water, housing, energy, and even medicines. It also plays a crucial role in climate regulation, soil erosion prevention and pollination - processes that maintain ecosystem functioning and help mitigate climate change impacts. However, these species are at risk due to threats such as habitat loss or...

Trade group advances work on gender-responsive policies

The Informal Working Group (IWG) on Trade and Gender, co-chaired by Cabo Verde, El Salvador, and the United Kingdom, has put forward several proposals to advance gender-responsive trade policies. These initiatives align with the MC13 Ministerial Declaration (WT/MIN(24)/W/12/Rev.1) and aim to enhance financial inclusion for female entrepreneurs.

World Bank approves action plan following inspection panel investigation in Bolivia

On May 16, 2024, the World Bank’s Board of Executive Directors approved a Management Action Plan in response to an independent Inspection Panel investigation of the Bolivia: Santa Cruz Road Corridor Connector Project (San Ignacio–San Jose). The Panel's investigation was prompted by a Request for Inspection filed on December 19, 2022, by four leaders of Chiquitano Indigenous People organizations in the Chiquitania region of eastern Bolivia.

U.S. provides field hospitals worth $2.1M to aid landslide-affected Alaus

The United States has delivered two field hospitals to Ecuador's Ministry of Health, with a total value of $2.1 million.

World Bank approves $76.52m digital acceleration project in Espírito Santo