News from 2024
World Bank approves $1.2 billion funding package for Kenya
By Globe Banner | May 30, 2024
The World Bank has approved new funding to help Kenya address short-term fiscal pressures and accelerate a more prosperous, green, and inclusive future.
Global purchasing power parities data released for 2021
By Globe Banner | May 30, 2024
New purchasing power parities (PPPs), which provide a standardized way to assess the relative buying power of different economies, were released today by the International Comparison Program (ICP) for the reference year 2021.
World Bank highlights adaptive social protection strategies in Latin America and Caribbean
By Globe Banner | May 30, 2024
In Latin America and the Caribbean, extreme weather events have doubled in the last 30 years. Not only are these events more frequent, but they are also increasingly intense. Nine countries in the region rank among the world's top 20 nations with the highest risk of disasters. Between 2000 and 2019, more than 20 devastating hurricanes impacted families, communities, businesses, and infrastructure.
World Bank partners with Türkiye on $400M project for climate-resilient forests
By Globe Banner | May 30, 2024
ANKARA, May 30, 2024—The Government of Türkiye and the World Bank have launched the $400 million Türkiye Climate Resilient Forests Project aimed at enhancing the country's ability to protect its forests and people from wildfires.
BusinessEurope publishes recommendations on European Economic Security Strategy
By Globe Banner | May 30, 2024
BusinessEurope has published its position paper on a European Economic Security Strategy. BusinessEurope Director General Markus J. Beyrer stated, "At a time when the debate on the development of a European Economic Security Strategy is intensifying, BusinessEurope is publishing this paper to provide concrete recommendations on this topic. For us, the Strategy must be anchored in the principles of competitiveness and openness. The protection of vital security interests must not be used as cover for disguised protectionism, and it must not endanger the integrity of the Single...
Regional workshop explores sustainable access to health technologies
By Globe Banner | May 30, 2024
The three-day intensive program focused on practical ideas for designing trade policies that support innovation and access to health technologies, including through intellectual property. The workshop was developed in close collaboration with the Secretariats of the World Health Organization (WHO) and the World Intellectual Property Organization (WIPO), and organized with the support of Morocco's Ministry of Industry and Trade.
Burundi strengthens food security through rapid emergency response
By Globe Banner | May 30, 2024
For the past two years, Burundi has faced a serious food security challenge. A series of climatic shocks, including water deficits, floods, and landslides, devastated crops and threatened the well-being of families across the country.
Irrigation transforms Ethiopian desert into fertile fields
By Globe Banner | May 30, 2024
In the arid outskirts of Dire Dawa, a city administration in eastern Ethiopia, a story of resilience and agricultural transformation has emerged. Mohamed Aduse and his group of young friends transitioned from laboring in quarries to pioneering agricultural prosperity with support from the World Bank’s Ethiopia Agricultural Growth Project II (AGP II). The project's goal is to increase agricultural productivity and commercialization for smallholder farmers in targeted locations.
Survey reveals impact of Russian invasion on Ukrainian livelihoods
By Globe Banner | May 29, 2024
The World Bank, in collaboration with the Kyiv International Institute of Sociology, conducts the Listening to Ukraine Household Phone Surveys (L2Ukr) to provide a picture of how Russia's invasion is impacting the well-being of ordinary Ukrainians and how the government's response, enabled by external support, has helped citizens cope amidst the war.
World Bank approves $74M grant for climate-resilient transport in Sierra Leone
By Globe Banner | May 29, 2024
The World Bank Board approved a $74 million International Development Association (IDA) grant to enhance climate-resilient transport connectivity and agricultural market access in Sierra Leone. The Sierra Leone Connectivity and Agricultural Market Infrastructure Project (CAMIP) aims to support all-season connectivity and access to jobs, markets, and services, particularly in rural areas where the lack of infrastructure has hindered economic development.
Goods Council announces 2024 chairpersons for subsidiary bodies
By Globe Banner | May 28, 2024
Members of the Goods Council have agreed on the chairpersons for its subsidiary bodies for 2024. The appointments are as follows:
Bridge transforms connectivity and economy in Northern Brazil
By Globe Banner | May 28, 2024
For 51-year-old Ricardinho Nunes from the Apinajé village in São Valério, Tocantins, his aspiration was to leave his ferryman days behind. He succeeded. For seven years, he managed the ferry that shuttled residents and goods across the Manoel Alves River between São Valério and Santa Rosa do Tocantins in Northern Brazil. The ferry, which was merely tethered by a cable, was at the mercy of the river's whims, posing a hazard to all who crossed.
EU-backed initiative supports socio-economic development in Azerbaijan
By Globe Banner | May 28, 2024
Azerbaijan Rapid Technical Assistance Facility (AZTAF) is a technical assistance program for the Republic of Azerbaijan, financed by the European Union and implemented by the World Bank. The AZTAF program aligns with Azerbaijan’s National Priorities and goals of its Socio-economic Development Strategy for 2022-2026.
Pandemic Fund launches strategic plan to bolster global health preparedness
By Globe Banner | May 28, 2024
Axel van Trotsenburg, Senior Managing Director at the World Bank, addressed the Pandemic Fund Ministerial Event at the World Health Assembly on May 28, 2024. In his remarks, he emphasized the importance of collective action and solidarity in addressing global health challenges.
Dominican Republic leads adaptive social protection systems against disasters
By Globe Banner | May 28, 2024
When Julia returned home after Hurricane Fiona passed in September 2022, she found a desolate scene. "The hurricane destroyed everything. It was a disaster," she recalls.
Emergency cash transfers aid Dominican women amid climate crises
By Globe Banner | May 28, 2024
"When Hurricane Fiona came, the river flooded our house," says Alexandra Hernández from Higüey, in the province of La Altagracia in the Dominican Republic. "We were in shock."
Fossil Fuel Subsidy Reform Initiative outlines post-MC13 work plan
By Globe Banner | May 28, 2024
At a recent meeting following the 13th Ministerial Conference (MC13), participants of the Fossil Fuel Subsidy Reform (FFSR) initiative advanced their work plan for the year. Ambassador Clare Kelly of New Zealand, coordinator of the FFSR initiative, emphasized the direction set by MC13: “The MC13 Ministerial Statement and its associated work programme has set out a clear direction for the work of the initiative under its three pillars and related action steps,” she stated. “This will be the focus of our work this year.”
World Bank launches €80M safe transport initiative in Western Balkans
By Globe Banner | May 28, 2024
Safe and sustainable transport allows for the efficient movement of goods and people, which is crucial for economic activity. Improved transport infrastructure can lead to reduced production and distribution costs, increased trade and investment, and enhanced connectivity with other regions. As a result, businesses can access new markets, and consumers can benefit from a wider variety of products and services. This is particularly crucial for the small and open economies of the Western Balkans, where trade has played a significant role in driving growth and economic progress.
WTO publication addresses strategies against illicit food trade
By Globe Banner | May 28, 2024
A new World Trade Organization (WTO) publication titled “Illicit Trade in Food and Food Fraud” has brought together contributions from experts across international organizations, non-governmental organizations, the private sector, and the WTO Secretariat. The publication highlights the detrimental impact of illicit food trade on food security and public health and outlines various strategies to counter these issues. A comprehensive response is deemed necessary, involving regulatory measures, enforcement, industry cooperation, and consumer education.
Vietnamese intergenerational self-help clubs aid elderly care amid rapid aging
By Globe Banner | May 28, 2024
Nguyen Thi Tuyen, a 78-year-old woman living with Parkinson’s Disease in Viet Nam’s Nghia Ninh commune in Quang Binh province, faces the challenges of living alone. “I have three children, but they have migrated to other places to earn their living and rarely visit me. I do not eat much and do not need much clothing. What I need more is medications for my disease and have someone to talk with and help me,” she says.