News from 2024
World Bank addresses reverse gender gap impacting Caribbean's socioeconomic landscape
By Globe Banner | May 28, 2024
Boys in the Caribbean are experiencing educational setbacks in what has been termed a "reverse gender gap," posing challenges to the region’s socioeconomic landscape. In Jamaica, for example, fewer boys and men attend upper secondary school and tertiary education, affecting the male population, particularly in rural and socioeconomically disadvantaged areas.
NCUA grants first provisional charter under new pilot initiative
By Globe Banner | May 28, 2024
The National Credit Union Administration (NCUA) has granted a federal charter and Share Insurance Fund coverage to Tribe Federal Credit Union in Minneapolis. This marks the first federal credit union to receive a charter under the NCUA’s provisional charter pilot initiative.
U.S. Embassy seeks bids for elevator maintenance services in Turkmenistan
By Globe Banner | May 28, 2024
The U.S. Embassy in Turkmenistan has announced an invitation for companies to submit quotations for elevator maintenance services under the solicitation number PR12561892.
World Bank-backed project improves menstrual hygiene management in Ethiopian schools
By Globe Banner | May 28, 2024
Tesfanesh Eba, a 6th grade student at Lideta Limat school in Addis Ababa, recalls the previous arrangement of shared toilets for both male and female students. “The boys used the ones on the left and the girls used the ones on the right,” she says. This setup was particularly uncomfortable for girls during menstruation, leading many to stay home and miss school.
World Bank highlights role of Islamic finance in achieving sustainable development goals
By Globe Banner | May 27, 2024
Axel van Trotsenburg, the World Bank Senior Managing Director, addressed the Global Forum on Islamic Economics and Finance on May 27, 2024. He extended greetings to several dignitaries including Malaysian Prime Minister Dato’ Seri Anwar bin Ibrahim, Malaysia's Minister of Finance II Datuk Seri Amir Hamzah Azizan, Indonesia's Minister of Finance Sri Mulyani Indrawati, and Goksel Asan from Turkey.
Call for papers open for World Trade Congress on Gender 2025
By Globe Banner | May 27, 2024
The call for research papers on innovation is now open for the World Trade Congress on Gender 2025, scheduled to focus on how women's empowerment drives innovation and how trade can support this process. The Congress, the only international research conference on trade and gender, aims to provide researchers and policymakers with a platform for in-depth discussions and insights into the role of innovation in enhancing gender equality, the impact of new technologies on women's access to trade opportunities, and how trade policies can foster innovation for women's empowerment.
Uzbekistan advances towards WTO membership with accelerated negotiations
By Globe Banner | May 24, 2024
Mr. Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan and Chair of the Inter-Agency Commission on WTO Accession, led a delegation to Geneva as part of the country's ongoing efforts to join the World Trade Organization (WTO). The delegation included Mr. Azizbek Urunov, Special Representative of the President on WTO issues and Chief Negotiator for WTO accession; Mr. Ahadbek Khaydarov, Deputy Minister of Economy and Finance; Mr. Alisher Karimov, Deputy Minister of Justice; and Mr. Akmaljon Kosimov, Deputy Minister of Agriculture. Officials from various ministries and...
BusinessEurope reacts to EU Corporate Sustainability Due Diligence Directive adoption
By Globe Banner | May 24, 2024
Reacting to today’s Council agreement, which finalizes the legislative process to adopt the EU Corporate Sustainability Due Diligence Directive, BusinessEurope Director General Markus J. Beyrer commented: "Harmonised transposition and clear guidance for companies will be key for implementation."
Lebanon Poverty and Equity Assessment 2024 reveals impacts of prolonged economic crisis
By Globe Banner | May 24, 2024
The Lebanon Poverty and Equity Assessment 2024: Weathering a Protracted Crisis is an evidence-based diagnostic tool designed to identify and analyze recent shifts in poverty and inequality in Lebanon. The assessment utilizes data from the Lebanon Household Survey 2022/2023, the first household consumption survey conducted in Lebanon in the past decade. The survey was conducted by the World Bank (WB) in collaboration with the United Nations High Commissioner for Refugees (UNHCR) and the World Food Programme (WFP).
Community Engagement Exchange invites applications for March-June 2025 program
By Globe Banner | May 24, 2024
The Community Engagement Exchange (CEE) Program is inviting applications for its upcoming three-month exchange set to take place in the United States from March to June 2025.
World Bank supports improved access to social services in Uzbekistan
By Globe Banner | May 24, 2024
The World Bank’s Board of Executive Directors has approved a $100 million concessional loan for Uzbekistan to implement the Innovative Social Protection System for Inclusion of Vulnerable People (INSON) Project. The initiative aims to enhance access to and the quality of social services for vulnerable populations in Uzbekistan.
New regulations on services trade take effect for four more WTO members
By Globe Banner | May 24, 2024
A total of 72 economies — comprising 70 WTO members and two acceding members (Timor-Leste and Comoros) — are committed to implementing the new disciplines on services trade regulation. Ecuador is the latest WTO member to have confirmed its commitment, requesting to become a participant in the Declaration on the Conclusion of Negotiations on Services Domestic Regulation.
Croatia collaborates with World Bank on public sector wage reform
By Globe Banner | May 24, 2024
In 2021, the Government of Croatia (GoC) committed to reforming its public sector wage-setting mechanism with the primary goal of making the system more equitable, transparent, internally consistent, and financially sustainable. This reform was a key element of Croatia’s National Recovery and Resilience Plan (NRRP), endorsed by the European Commission. The GoC recognized that the existing system was inequitable as not all similar jobs were paid equally. It also lacked transparency and clear rules for setting job complexity coefficients and supplements, as well as for job...
EU, Australia commit to implementing recent WTO rulings
By Globe Banner | May 24, 2024
The European Union has affirmed its intention to implement the panel ruling in DS600, a case concerning measures related to palm oil and oil palm crop-based biofuels. The ruling was formally adopted by the Dispute Settlement Body (DSB) on April 26. The EU stated it would require a reasonable period of time for implementation and expressed a willingness to discuss this timeline with Malaysia promptly.
WTO members discuss farm policies amid rising global food insecurity
By Globe Banner | May 24, 2024
On May 24, 2024, WTO members convened to review farm policies and discuss food security and technology transfer. The Chair of the Committee, Mr. Kjetil Tysdal of Norway, facilitated the discussions.
First WTO workshop focuses on improving customs valuation notifications
By Globe Banner | May 24, 2024
The first World Trade Organization (WTO) workshop on customs valuation notifications concluded in Geneva on May 24, 2024. Under WTO rules, members are required to notify developments in national laws and regulations on customs valuation and a checklist of issues regarding their legislation. They must also notify the implementation of the Decision on Interest Charges and the Decision on the Valuation of Carrier Media Bearing Software.
Syria's economy continues contraction as household welfare declines further
By Globe Banner | May 24, 2024
The World Bank has released two reports detailing the worsening economic situation in Syria and the significant decline in household welfare. The "Syria Economic Monitor Spring 2024: Conflict, Crises and the Collapse of Household Welfare" examines Syria's macroeconomic policy within the context of ongoing conflict and regional instability. The report includes findings from "The Welfare of Syrian Households after a Decade of Conflict," which assesses welfare changes from the pre-conflict period (2000-2010) to mid-2022.
Gambian economy shows resilience amid global challenges: World Bank report
By Globe Banner | May 24, 2024
Banjul, May 24, 2024 – The Gambia's economy has shown resilience amid global and regional uncertainties, according to The Gambia’s Fourth Economic Update – Spring 2024. Despite a sluggish global environment, the country's real GDP grew by 5.3% in 2023, signaling continued recovery from the COVID-19 pandemic and persistent external headwinds.
Nigerian politician: 'there is an undeniable decline in our judicial system'
By Globe Banner | May 23, 2024
Peter Obi, the former governor of Anambra State in Nigeria, has expressed concern over the decline of Nigeria's judicial system. He warns that this deterioration threatens stability, human rights, and institutional integrity. Obi communicated these concerns in a post dated May 15, which detailed his keynote address at Godfrey Okoye University in Enugu.
World Bank endorses new partnership framework with Togo
By Globe Banner | May 23, 2024
The World Bank Group (WBG) has endorsed a new Country Partnership Framework (CPF) for Togo, granted a special waiver for the country's access to the Prevention and Resilience Window, and approved three new loans from the International Development Association (IDA) totaling over $600 million. These measures aim to strengthen prevention and resilience, increase access to reliable electricity, improve public administration performance, and support refugees and host communities in northern Togo.