News from 2024
World Bank approves substantial investment for rural water access in Pernambuco, Brazil
By Globe Banner | May 17, 2024
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
By Globe Banner | May 17, 2024
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
By Globe Banner | May 17, 2024
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
By Globe Banner | May 17, 2024
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
By Globe Banner | May 17, 2024
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
By Globe Banner | May 17, 2024
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
By Globe Banner | May 17, 2024
On May 17, 2024, the World Bank Board of Directors approved a project aimed at strengthening digital infrastructure resilience, modernizing emergency management, and improving digital public infrastructure in the State of Espírito Santo in Brazil. The initiative is designed to enhance the delivery of digital services and bolster the state's capacity to respond to climate-related disasters.
U.S Embassy advises preparation steps for immigrant visa interviews
By Globe Banner | May 17, 2024
Taking the necessary steps to prepare for an immigrant visa interview can help prevent delays in processing applications, according to guidance provided by the U.S. Embassy.
U.S. Embassy phone system down for maintenance on May 18
By Globe Banner | May 16, 2024
On May 18, 2024, from 8:00 a.m. to 2:00 p.m., the U.S. Embassy phone system will undergo scheduled maintenance and be unavailable during this period. U.S. citizens in Lithuania facing emergencies should call +370-5-212-7221 to reach a duty officer.
Webinar highlights potential of services trade for Latin America, Caribbean growth
By Globe Banner | May 16, 2024
A recent webinar emphasized the potential of services trade to stimulate growth in Latin American and Caribbean economies. Despite services trade becoming the most dynamic component of global trade in recent years, these regions have yet to fully exploit its economic benefits.
World Bank aids Bosnia and Herzegovina in public service reform
By Globe Banner | May 16, 2024
The World Bank has been instrumental in guiding Bosnia and Herzegovina (BiH) towards significant reforms in its health, education, and public administration sectors from 2018 to 2023. These changes aim to enhance the efficiency, effectiveness, and quality of public services for all citizens. They also seek to bolster economic development and accelerate the country's accession to the European Union (EU).
World Bank addresses global learning crisis exacerbated by COVID-19 pandemic
By Globe Banner | May 16, 2024
The global learning crisis has been exacerbated by the COVID-19 pandemic, pushing an additional 70 million people into poverty and causing a billion children to lose a year of school. Even three years later, the learning losses have not been fully recovered. It is believed that if a child cannot read with comprehension by age 10, their future prospects in education and career are significantly compromised.
WTO official calls for inclusive trade policies at Lima event
By Globe Banner | May 16, 2024
Deputy Director-General Angela Ellard emphasized the importance of inclusive trade policies at a recent WTO Chairs Programme event in Lima, Peru. Speaking to an audience that included scholars and policymakers, Ellard highlighted the significance of fostering women's economic empowerment through international trade.
World Bank Group commits to elevating women's economic empowerment
By Globe Banner | May 16, 2024
Esteemed guests, partners, and colleagues, it is a privilege to be present here tonight. As we stand together, we celebrate the spirit of women entrepreneurs and acknowledge the leaders who echo the World Bank Group's commitment to fostering diversity and inclusion within supply chains—a commitment that resonates deeply with all of us.
World Bank Group unveils new Country Partnership Framework with Jordan
By Globe Banner | May 16, 2024
The World Bank Group has unveiled a new Country Partnership Framework (CPF) with Jordan for the period of 2024-2029. This framework aims to create opportunities for the people of Jordan, with a focus on inclusive green growth. The key areas include improving private sector jobs, particularly for youth and women; enhancing human capital outcomes; and bolstering resilience and sustainability through green investments. The CPF emphasizes that achieving these goals requires the full engagement and economic participation of women and youth.
Economic update: Overcoming challenges for growth in Guinea-Bissau
By Globe Banner | May 16, 2024
In Guinea-Bissau, the path to economic growth and development is hampered by structural challenges that prevent the nation from realizing its full potential. The economy continues to be heavily reliant on raw cashew nut exports, which constitute approximately 90% of export value and serve as a source of income for about 80% of the population, primarily smallholder farmers. This dependency leaves Guinea-Bissau vulnerable to external shocks such as fluctuating international prices and adverse weather conditions like irregular rainfall or floods. In 2023, a difficult cashew...
External review launched into CAO's probe of IFC's investment in Bridge Academies
By Globe Banner | May 16, 2024
The Board of Executive Directors of the International Finance Corporation (IFC) announced on May 16, 2024, that they will commission an external firm to examine the circumstances surrounding the Compliance Advisor Ombudsman’s (CAO) investigation into IFC’s investment in Bridge International Academies. The CAO is IFC’s independent accountability mechanism and reports directly to the IFC Board.
World Bank report outlines prospects for Turkish Cypriot economy
By Globe Banner | May 16, 2024
On May 16, 2024, the World Bank released its latest Macroeconomic Monitoring Report titled 'Translating Opportunities into Shared Prosperity'. The report evaluates the recent economic performance of the Turkish Cypriot community, highlighting a significant recovery in 2023. The real GDP marginally exceeded the pre-pandemic level, backed by record Green Line crossings and trade.
WTO official calls for APEC cooperation following key decisions at MC13
By Globe Banner | May 16, 2024
DDG Ellard urged APEC leaders to help turn MC13 progress into concrete outcomes on May 16, 2024. She noted that WTO members adopted several important decisions at MC13, particularly in relation to development. Significant progress was also made in areas including fisheries subsidies, dispute settlement reform, and agriculture. Members have identified four immediate priorities for future work.
Tanzania joins global initiative to reduce methane emissions
By Globe Banner | May 16, 2024
Nearly 60% of the waste in Dar es Salaam, Tanzania is food waste, which produces methane, a potent greenhouse gas. To address this issue, Tanzania is embarking on a journey to reduce methane emissions through collaborative efforts aimed at enhancing urban resilience and tackling climate change. The country will be included in a global methane initiative spearheaded by the World Bank, as part of its Climate Action Plan.