News from 2024
Global carbon pricing revenues hit record $104 billion in 2023
By Globe Banner | May 21, 2024
In 2023, carbon pricing revenues reached a record $104 billion, according to the World Bank’s annual “State and Trends of Carbon Pricing 2024” report released today. The report indicates that there are now 75 carbon pricing instruments in operation worldwide. More than half of the collected revenue was allocated to fund climate and nature-related programs.
WiPro appoints Chief Operating Officer
By Globe Banner | May 21, 2024
Wipro has announced the appointment of Sanjeev Jain as its new Chief Operating Officer (COO), succeeding Amit Choudhary. Jain, who joined the company in 2023, will assume his new role following Choudhary's departure.
1 in 3 Malaysians worry about scams in real-time payments
By Globe Banner | May 21, 2024
Global analytics software firm FICO has unveiled the results of its latest survey, which underlines the apprehensions of Malaysians concerning real-time payments and the associated risks. The survey points to a growing trend of real-time payment scams, which is causing significant concern among citizens.
WTO members discuss transparency improvements in import licensing regimes
By Globe Banner | May 21, 2024
Mr. Tharnpanich urged all delegations to utilize the Portal for their notifications relating to the Import Licensing Agreement. He emphasized that all notifications submitted via the Portal are incorporated into a database, enhancing transparency and simplifying the process for future notifications.
Young Antiguan wins global sustainable car design contest
By Globe Banner | May 21, 2024
Fourteen-year-old Daniel Athill Jona from Antigua and Barbuda was declared the second-place winner in his age group in the 2023 global competition for sustainable car design. His entry was chosen among 780,000 entries from 90 countries, making him the first Caribbean winner in the history of the competition.
World Bank approves $35M loan for Black Sea submarine cable project
By Globe Banner | May 21, 2024
The World Bank’s Board of Executive Directors has approved a $35 million loan for the first phase of the Enhancing Energy Security through Power Interconnection and Renewable Energy (ESPIRE) Program for Georgia. The ESPIRE Program, with a potential financing envelope of up to $500 million, aims to enhance Georgia’s institutional capacity for submarine cable projects, strengthen its domestic power transmission system, and establish an electricity interconnection between the South Caucasus and Southeast Europe. Additionally, it seeks to reduce internet connection costs and...
Egypt prioritizes education reform to prepare students for future workplaces
By Globe Banner | May 21, 2024
Education is widely recognized as a powerful catalyst for development, instrumental in reducing poverty and improving health, gender equality, peace, and stability. It is also crucial for preparing children for the future by equipping them with fundamental skills such as reading, which is essential for further learning and productivity later in life.
Rhode Island National Guard completes expert exchange with Timor-Leste defense force
By Globe Banner | May 21, 2024
The Rhode Island National Guard (RING) and the Falintil-Forças de Defesa de Timor-Leste (F-FDTL) Land Component have completed a Subject Matter Expert Exchange (SMEE), focusing on small arms handling and range operations.
U.S. congratulates Timor-Leste on Restoration of Independence Day
By Globe Banner | May 21, 2024
On May 19, 2023, Antony J. Blinken, the U.S. Secretary of State, extended congratulations to the people of Timor-Leste on behalf of the United States government as they prepare to celebrate their Restoration of Independence Day on May 20.
Nepal and World Bank launch $4.6 million project to combat gender-based violence
By Globe Banner | May 21, 2024
On May 21, 2024, the Government of Nepal and the World Bank jointly launched the Institutionalizing Gender-Based Violence Response in Federal Nepal Project. The Honorable Minister of Women, Children, and Senior Citizens, Ms. Bhagbati Chaudhary, and World Bank Country Director for Maldives, Nepal, and Sri Lanka, Mr. Faris Hadad-Zervos were present at the launch.
Ohmium to provide electrolyzers for green hydrogen project in Croatia
By Globe Banner | May 21, 2024
Ohmium International has declared its involvement in the first green hydrogen project in Croatia. The company will supply Proton Exchange Membrane (PEM) electrolyzers to IVICOM, a Croatian company building a 10-megawatt green hydrogen plant at the INA Rijeka Refinery.
WTO announces Mauritius accepts Fisheries Subsidies Agreement
By Globe Banner | May 21, 2024
The World Trade Organization (WTO) has declared that Mauritius has officially accepted the Agreement on Fisheries Subsidies. The instrument of acceptance from Lao PDR was presented by Ambassador Usha Chandnee Dwarka-Canabady to Director-General Ngozi Okonjo-Iweala, bringing the total number of WTO members who have accepted the agreement to 75.
Uzbekistan plans new solar plant with World Bank Group support
By Globe Banner | May 21, 2024
TASHKENT, May 21, 2024 — A new solar photovoltaic plant and battery energy storage system (BESS) are set to be constructed in Uzbekistan, thanks to a financial package signed by the World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan. The project, which will have a capacity of 250 megawatts (MW) with a 63-MW BESS, aims to provide clean and reliable electricity access to approximately 75,000 households.
Zambia signs agreement with World Bank to reduce carbon emissions
By Globe Banner | May 21, 2024
Communities in Zambia's Eastern Province are set to benefit from a new Emission Reductions Purchase Agreement (ERPA) signed by the Government of the Republic of Zambia and the World Bank’s BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL). The agreement will provide up to $30 million in results-based payments, rewarding these communities for their efforts to reduce around three million metric tons of CO2e emissions between 2024 and 2029.
Addressing global disparities in access to water: A call for action
By Globe Banner | May 20, 2024
The global disparity in access to water resources and services, as well as the impacts of climate-related water shocks, necessitates a comprehensive response to enhance water accessibility, bolster climate resilience, alleviate poverty, and promote shared prosperity.
World Bank report calls for urgent action on global water security
By Globe Banner | May 20, 2024
Water security is a crucial component of poverty reduction, yet billions worldwide may continue to lack access to clean water unless urgent action is taken, according to a report released by the World Bank on May 20, 2024. The report highlights the necessity of safe drinking water and sanitation, reliable water supply for agriculture and industry, and protection against droughts and floods for human and economic development.
Korea to host World Bank's IDA 21st replenishment meeting in December 2024
By Globe Banner | May 20, 2024
Donors are preparing to announce their pledges for the International Development Association's (IDA) 21st replenishment cycle in Seoul, Korea in December 2024. This meeting is a crucial opportunity to increase commitments and reorient the world towards eradicating poverty on a habitable planet. The IDA, known as the world's largest global solidarity fund for the poor, assists countries in planning their own future.
US condemns Russian cyber attacks on EU nations
By Globe Banner | May 20, 2024
The United States has issued a strong condemnation of cyber activities attributed to Russia's General Staff Main Intelligence Directorate, known as APT28.
U.S. State Department issues global caution for travelers
By Globe Banner | May 18, 2024
The Department of State has issued a security alert advising U.S. citizens overseas to exercise increased caution due to potential threats.
National Whistleblower Center urges United States to secure Tigran Gambaryan's release from Nigerian custody
By Globe Banner | May 17, 2024
The National Whistleblower Center (NWC) has sent a letter to the Bureau of Consular Affairs, urging the United States to exert its utmost effort in securing the release of Tigran Gambaryan. Gambaryan, who serves as a compliance officer for Binance, has been detained in Nigeria for nearly three months.