News from 2024
Pacific Regional Trade Facilitation Strategy aims to streamline trade processes
By Globe Banner | Jul 15, 2024
The Pacific Regional Trade Facilitation Strategy, developed with support from the World Bank, aims to assist Pacific Island Forum (PIF) members in implementing national trade facilitation reforms. These reforms are designed to reduce administrative barriers such as excessive documentation, complex border procedures, and inefficient regulations that increase costs and delays in trade, thereby hindering economic development.
Germany partners with World Bank on strengthening education in the Sahel
By Globe Banner | Jul 15, 2024
BERLIN, WASHINGTON D.C., July 15, 2024 - German Federal Minister for Economic Cooperation and Development, Svenja Schulze, and World Bank Vice President for Western and Central Africa, Ousmane Diagana, have agreed to strengthen their partnership under a joint initiative to support education and skills development in the Sahel.
IFC selects Freshfields for review of CAO's Bridge International Academies probe
By Globe Banner | Jul 15, 2024
The Board of Executive Directors of the International Finance Corporation (IFC) announced today that they have selected the global law firm Freshfields Bruckhaus Deringer to investigate the circumstances surrounding the Compliance Advisor Ombudsman’s (CAO) investigation of IFC’s investment in Bridge International Academies.
WTO Director-General urges genuine negotiation among members
By Globe Banner | Jul 15, 2024
The Director-General of the World Trade Organization (WTO) has urged members to transition from discussion to action in their negotiations. Speaking at a Trade Negotiations Committee (TNC) meeting, she acknowledged that while progress had stalled on key issues, there was recognition of the need to restart negotiations following a heads of delegation retreat on July 8.
Social Security representatives to visit Bratislava for outreach in September 2024
By Globe Banner | Jul 15, 2024
Representatives from the Social Security Administration will be in Bratislava this September to assist U.S. citizens with Social Security-related issues.
Binance Head of Law Enforcement Training: 'we often provide hands-on investigation assistance' to law enforcement
By Globe Banner | Jul 15, 2024
Jarek Jakubcek, the head of Law Enforcement Training at the cryptocurrency exchange Binance, stated that his team assists law enforcement agencies in investigating cybercrimes involving cryptocurrencies. Jakubcek shared this information in a July 11 post on Binance's website.
Digital Chamber: Nigerian government's arrest of U.S. citizen 'threatens all crypto professionals'
By Globe Banner | Jul 15, 2024
The Digital Chamber, a blockchain industry advocacy organization, stated that the Nigerian government's arrest of Binance employee and former U.S. federal agent Tigran Gambaryan "threatens all crypto professionals." The Chamber shared its statement in a July 12 post on X.
ADL survery reveals an increase in anti-Israel attitudes in J7 task force countries
By Globe Banner | Jul 15, 2024
The Anti-Defamation League (ADL) has released the results of a survey related to antisemitic and anti-Israel attitudes across J7 task force countries, where some of the largest Jewish populations reside outside of Israel. The poll revealed that 56% of respondents agreed with the "dual loyalty" trope, or the notion that Jews are more loyal to Israel than to their home country.
Foreign direct investment in US decreases by 28% in 2023
By Globe Banner | Jul 12, 2024
Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses reached $148.8 billion in 2023, according to preliminary data from the U.S. Bureau of Economic Analysis.
World Bank approves funding for Botswana's renewable energy initiatives
By Globe Banner | Jul 12, 2024
GABORONE, July 12, 2024 - The World Bank’s Board of Directors has approved its first lending operation supporting renewable energy development in Botswana. The Botswana Renewable Energy Support and Access Accelerator (RESA) Project, approved on July 11, 2024, aims to transform the country’s energy landscape through enabling renewable solutions and improved electricity access.
US Embassy announces upcoming vehicle procurement solicitation
By Globe Banner | Jul 12, 2024
The Embassy of the United States in Turkmenistan has announced a pre-solicitation notice for vehicle procurement for the Ashgabat Post.
Jamaica attracts $520M private investment with World Bank support
By Globe Banner | Jul 11, 2024
Jamaica, like many countries in the region, faces significant infrastructure deficits in key sectors such as transport, energy, water, telecommunications, and social services. According to the Inter-American Development Bank (IDB), the infrastructure investment gap in Latin America and the Caribbean is estimated at US$150 billion per year.
WTO emphasizes role of climate-smart connectivity in global supply chains
By Globe Banner | Jul 11, 2024
In a recent address, Deputy Director-General Ellard of the World Trade Organization (WTO) emphasized the critical role of climate-smart connectivity and digital trade in enhancing regional and global integration, as well as sustainable development. The speech highlighted how connectivity serves as the cornerstone of effective supply chains in today's global economy, particularly in light of disruptions such as COVID-19, geopolitical tensions, and environmental challenges.
World Bank official highlights China's role in global development at CIDCA conference
By Globe Banner | Jul 11, 2024
Distinguished Colleagues,
World Bank Group launches new framework for resilient growth in Tanzania
By Globe Banner | Jul 11, 2024
The World Bank Group’s Board of Executive Directors has endorsed a new Country Partnership Framework (CPF) for Tanzania. This initiative aims to support the nation in consolidating its middle-income status, achieving high levels of human development, and contributing to the World Bank Group’s mission to end extreme poverty and boost prosperity on a livable planet.
World Bank provides additional funding for hydropower project in Kyrgyz Republic
By Globe Banner | Jul 11, 2024
The World Bank’s Board of Executive Directors approved $13.6 million in additional financing to supplement the ongoing $5 million Technical Assistance for Kambarata-1 Hydropower Plant (HPP) Project in the Kyrgyz Republic. The project aims to support the Government of the Kyrgyz Republic in preparing the Kambarata-1 HPP project sustainably.
Digitalization in trade facilitation highlighted at WTO meeting
By Globe Banner | Jul 11, 2024
Five members — China, Colombia, Ecuador, Lao People's Democratic Republic, and the Republic of Moldova — shared their experiences of using digitalization to facilitate trade at a recent trade facilitation meeting. Their presentations aligned with the committee's 2024 focus on this topic.
FFIEC releases comprehensive report on mortgage lending activities in U.S.for23
By Globe Banner | Jul 11, 2024
WASHINGTON, D.C. (July 11, 2024) – The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.
Mali improves healthcare access through international support programs
By Globe Banner | Jul 11, 2024
Ms. Salama Traoré, during her seventh pregnancy, finally received adequate health care at a community health center in Bamako. She expressed relief, recalling past hardships. "My first six children were born at home because my husband and I couldn't afford the cost of pre- and post-natal care," she said, noting the loss of two children due to inadequate care. Ms. Traoré now benefits from the Accelerating Progress Toward Health Coverage Project (PACSU), which provides quality health care to Mali's poorest.
World Bank-backed initiative improves road safety across Madhya Pradesh
By Globe Banner | Jul 11, 2024
Young girls at the Senior Secondary School in Madhya Pradesh’s Raruarai village in Dhar district were hesitant to go to school. Harassed daily by bystanders outside the school, girls found the journey to school a daunting experience, impacting their education. Sixteen-year-old student Manisha Chauhan recalls, “I live in the girls' hostel next door and didn’t feel safe even walking the 50 meters from the hostel to the school. There were vendors everywhere, buses stopped haphazardly, and always a crowd of men who made us all walking together feel uncomfortable.”