News from October 2024
German-Indian collaboration advances India's transition to renewable energy
By Globe Banner | Oct 24, 2024
India's solar energy potential is being harnessed through a partnership with KfW, which has provided EUR 1 billion in subsidized loans from 2017 to 2023.
WTO begins advanced trade policy course focused on practical applications
By Globe Banner | Oct 24, 2024
The World Trade Organization (WTO) has commenced its advanced trade policy course in Geneva. The program emphasizes case-based learning and practical application of WTO agreements, aiming to enhance participants' analytical and negotiation skills. Through discussions, simulations, and case studies, attendees gain hands-on experience with WTO tools and databases.
World Bank reviews Nepal's human capital for economic growth
By Globe Banner | Oct 24, 2024
The World Bank Group has released the Nepal Human Capital Review (NHCR) as part of its global Human Capital Project. This initiative highlights the importance of investing in people to boost economic growth and prosperity through improved education, health, and nutrition. The review aims to understand why income inequalities persist and why many Nepalis remain in poverty.
Spain boosts financial pledge by nearly 40% for international development association
By Globe Banner | Oct 24, 2024
Spain has announced an early financial commitment of €400 million to the International Development Association (IDA), the World Bank's fund for low-income countries. This represents a 37% increase compared to the previous IDA replenishment cycle, highlighting Spain's ongoing dedication to sustainable development worldwide. With this contribution, Spain's total donations exceed €5 billion since IDA's inception.
Germany pledges EUR 150K for farm trade standards in developing economies
By Globe Banner | Oct 24, 2024
Germany has pledged EUR 150,000 to support developing economies in meeting farm trade standards.
NCUA board discusses cybersecurity threats and charter modernization initiatives
By Globe Banner | Oct 24, 2024
The National Credit Union Administration (NCUA) Board convened for its seventh open meeting of 2024, where members received updates on cybersecurity and charter modernization efforts. The briefings highlighted significant trends and challenges facing the credit union sector.
Binance announces LATAM community event in Cartagena
By Globe Banner | Oct 24, 2024
Binance announced a LATAM community event in Cartagena, Colombia, where over 18 Binance Angels from the region gathered to strengthen relationships and exchange insights. The event focused on collaboration, shared experiences, and building a stronger community.
Amazon VP: Amazon's annual pay reviews ensure wages are 'industry-leading'
By D. D. Diggs | Oct 23, 2024
Udit Madan, Amazon's vice president of worldwide operations, said Amazon conducts annual reviews of their wages and benefits in order to maintain "competitive" and "industry-leading" rates for employees.
Global banks to trial live digital asset transactions using Swift network in 2025
By R. B. Pepalis | Oct 23, 2024
On October 3, Swift announced that major banks across North America, Europe, and Asia will conduct live trials of digital currency and asset transactions starting in 2025.
Amazon spokesperson: The company used 'logistics infrastructure, global inventory, and technology' to aid in hurricane relief efforts
By B. B. Urness | Oct 23, 2024
Andre Woodson, a spokesperson for Amazon, said the company was able to help in relief efforts in areas impacted by Hurricane Helene and Hurricane Milton by using its "logistics infrastructure, global inventory, and technology."
Blinken discusses Middle East issues with Jordanian Foreign Minister
By Globe Banner | Oct 23, 2024
Secretary of State Antony J. Blinken engaged in a conversation with Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates, Ayman Safadi, to discuss recent regional developments.
Cabo Verde advances toward becoming a West African digital hub
By Globe Banner | Oct 23, 2024
Cabo Verde is setting its sights on becoming a digital hub in West Africa, with significant investments aimed at modernizing public services and boosting the economy. The government has outlined plans to digitize 60% of public services by 2026, with aspirations to reach over 80% by 2030. Key initiatives include the Weblabs program, which educates nearly 14,000 students in digital fields, and Cabo Verde Digital's efforts to foster innovation among startups.
WTO deputy director-general underscores collaboration with World Customs Organization
By Globe Banner | Oct 23, 2024
Deputy Director-General Angela Ellard of the World Trade Organization (WTO) addressed delegates at a meeting organized by the World Customs Organization (WCO), emphasizing the critical collaboration between the two entities. She expressed gratitude to WCO Secretary General Ian Saunders and acknowledged the significant role that WCO delegates play in shaping international trade frameworks.
World Bank doubles agribusiness commitment amid strategic pivot
By Globe Banner | Oct 23, 2024
The World Bank Group has announced a significant shift in its approach to agribusiness, aiming to establish a comprehensive ecosystem for the industry.
Global Sovereign Debt Roundtable evaluates progress on debt restructuring
By Globe Banner | Oct 23, 2024
The Global Sovereign Debt Roundtable (GSDR) convened in Washington, DC, on October 23, 2024, to evaluate progress in enhancing debt restructuring processes and timelines. The meeting also focused on addressing debt vulnerabilities and identifying priority areas for future work.
Global institutions urge coordinated approach on climate action and carbon pricing
By Globe Banner | Oct 23, 2024
The Joint Task Force on Climate Action, Carbon Pricing, and Policy Spillovers has released a report titled “Working Together for Better Climate Action: Carbon Pricing, Policy Spillovers, and Global Climate Goals.” The task force was convened by...
World Bank doubles commitment in agribusiness aiming for $9 billion annually by 2030
By Globe Banner | Oct 23, 2024
The World Bank Group has announced a significant shift in its approach to agribusiness, aiming to create a comprehensive ecosystem for the industry. This new strategy will see the institution double its agri-finance and agribusiness commitments to $9 billion annually by 2030. The announcement comes as four key trends—climate change, financial innovations, digitalization, and solutions to fragmentation—are reshaping the agribusiness landscape.
World Bank Group partners with Austria for new Vienna Development Knowledge Center
By Globe Banner | Oct 23, 2024
Austria has been a long-standing partner of the World Bank Group (WBG), supporting various knowledge programs over the years. These programs have covered topics such as financial sector reform, investment climate, urban development, climate change, and water management. Recently, Austria supported the expansion of the WBG Vienna office into a significant operations hub for the Europe and Central Asia (ECA) region, which now hosts over 300 staff.
WTO conducts trade policy review for Maldives
By Globe Banner | Oct 23, 2024
The World Trade Organization (WTO) is set to conduct a Trade Policy Review for the Maldives. This review involves an examination and evaluation of the country's trade and related policies. The WTO Secretariat has prepared a detailed report independently, which will be discussed by the WTO's full membership in the Trade Policy Review Body (TPRB).
World Bank emphasizes need for increased investment in global water security
By Globe Banner | Oct 23, 2024
Axel van Trotsenburg, Senior Managing Director at the World Bank Group, addressed the pressing issue of water security at the "Financing Water Security: Increasing Investments to Close the Gap Between Water Demand and Supply" event. Van Trotsenburg highlighted that over 2.2 billion people lack access to safe drinking water, with 3.5 billion living without safely managed sanitation. He emphasized that these deficiencies affect public health, environmental sustainability, food security, and social stability.