News from 2024
Binance delivers law enforcement training in El Salvador to help authorities combat local crime
By Globe Banner | May 12, 2024
Binance, a leading cryptocurrency exchange, recently conducted a training session in El Salvador. The session aimed to equip investigators and legal staff from various agencies with tools to combat local crime. This initiative is part of Binance's broader effort to extend its Law Enforcement Training Program across Latin America.
International Monetary Fund staff reach agreements with Cabo Verde on fourth review under extended credit facility, first review under resilience and sustainability facility
By Globe Banner | May 12, 2024
Following a recent visit to Praia, Cabo Verde, a team from the International Monetary Fund (IMF) and local authorities have reached an agreement. This follows the country's fourth review under the Extended Credit Facility (ECF) and a first review under the Resilience and Sustainability Facility (RSF). Both of these programs offer support to the government in distinct ways.
Binance assists Netherlands authorities in $30M+ ZKasino fraud investigation
By Globe Banner | May 12, 2024
Binance has reported that its compliance procedures and controls played a pivotal role in the arrest of a user who allegedly used the platform for illegal activities. The Fiscal Information and Investigation Service (FIOD) in the Netherlands apprehended a 26-year-old man last month on charges of fraud, embezzlement, and money laundering.
Argentinan legislator claims tobacco tax vote count was miscalculated
By Kate Sarmiento | May 11, 2024
A member of the Argentine National Congress says leaders of its lower chamber miscounted a vote on a measure to raise tobacco taxes in the country, certifiying it as having passed, when it actually didn't.
World Bank projects Mongolia's economy to grow by 4.8% in 2024
By Globe Banner | May 10, 2024
Mongolia's economy is forecasted to grow by 4.8% in 2024, fueled by a thriving mining sector, robust private consumption, and fiscal expansion which counterbalance the agricultural sector's contraction due to severe climatic conditions. This projection comes from the World Bank's latest semi-annual Mongolia Economic Update.
World Bank approves $30 million for Zanzibar's judicial modernization project
By Globe Banner | May 10, 2024
The World Bank has approved new financing aimed at enhancing access to justice, efficiency, and transparency of judicial services for the citizens of Zanzibar. This initiative builds on the government of Zanzibar's ongoing reforms that emphasize the importance of accountable and effective justice institutions and efficient procedures.
World Bank extends $125 million emergency support to flood-hit Rio Grande do Sul
By Globe Banner | May 10, 2024
The World Bank is extending emergency support to the state of Rio Grande do Sul in Brazil, which has been severely affected by recent rains and floods. Approximately US$125 million (around R$625 million) from ongoing projects are immediately available for reallocation. The funds are sourced from the "Urban Resilience Program in Southern Brazil", "Revitalization Program for the Central Area of Porto Alegre", and "Support Program for the New Bolsa Família". Moreover, World Bank teams are offering technical assistance in damage assessment, resource prioritization, and fund...
World Bank supports post-pandemic health-sector reform in East Asia and Pacific
By Globe Banner | May 9, 2024
The COVID-19 pandemic has highlighted the need for reform and investment in national health systems. In response, the World Bank is supporting post-pandemic health-sector changes, with a focus on expanding coverage, improving primary healthcare quality, and strengthening core public health functions. The organization is also preparing for potential future pandemics and working to enhance the efficiency of healthcare delivery and expenditures.
New World Bank Country Director Appointed for Viet Nam, Cambodia, and Lao PDR
By Globe Banner | May 9, 2024
The World Bank has appointed Ms. Mariam Sherman as the new Country Director for Viet Nam, Cambodia, and Lao PDR, effective May 1, 2024.
Black & Veatch: ‘Asia Pacific must identify and adopt low-carbon technologies to reduce carbon emissions’
By Globe Banner | May 9, 2024
Black & Veatch, a global leader in engineering, procurement and construction services, will be discussing a variety of strategies that the Asia Pacific region needs to adopt to accelerate its energy transition. The company plans to delve into potential energy assets and systems that could aid the region in its quest for decarbonization.
Sustained Recovery in Tunisia Requires Swift Action to Seize Opportunities
By Globe Banner | May 8, 2024
TUNIS, May 8, 2024 — Tunisia's economic recovery slowed in 2023, due to a severe drought, tight financing conditions and a modest pace of reform, leaving the country's growth below pre-COVID levels, and making it one of the slowest recoveries in the Middle East and North Africa region, according to the Spring 2024 edition of the World Bank's Economic Monitor for Tunisia.
Maldives Development Update: Economic Challenges and Fiscal Reforms Ahead
By Globe Banner | May 8, 2024
The Maldives Development Update (MDU) has two main goals. First, it takes the pulse of the Maldivian economy by providing key developments over the past 12 months. Placing these in a global context, and based on these recent developments, it analyzes the outlook over the medium term. Second, every other edition of the MDU provides a more in-depth investigation of selected economic and policy issues. It has a wide audience including policymakers, policy analysts from think tanks or non-governmental organizations, and business and financial sector professionals interested in...
Forests, Wetlands, and Landscapes to Restore in Armenia with World Bank Support
By Globe Banner | May 8, 2024
The World Bank’s Board of Executive Directors approved the RESILAND: Armenia Resilient Landscapes Project (RESILAND Armenia) on May 8, 2024, to help the government strengthen community engagement and improve the management of forests, wetlands, and protected areas in selected locations in Armenia. The project, supported by the Global Environment Facility (GEF) and co-financed by the Government of Sweden, aims to reinforce the institutional framework for sustainable landscape management, expand areas under sustainable management, mitigate forest fragmentation, increase tree...
World Bank Vice President Engages with Pakistan on Development Strategies
By Globe Banner | May 8, 2024
World Bank Vice President Visits Pakistan, Agrees to Jointly Prepare an Ambitious and Focused New Country Partnership Framework
Maldives Economy Facing Challenges, Urgent Fiscal Reforms Required for Stability
By Globe Banner | May 8, 2024
The Maldives economy is expected to grow by 4.7% in 2024, lower than previous estimates, reflecting a moderation in growth momentum. The outlook faces potential risks due to external and fiscal vulnerabilities, and increased debt risks could arise if fiscal reforms are not implemented, says the World Bank in its twice-a-year update.
World Bank Expands Leadership in USD SOFR Market with Second Transaction of 2024
By Globe Banner | May 8, 2024
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) announced on May 8, 2024, the pricing of a USD 1.5 billion Sustainable Development Bond linked to the Secured Overnight Financing Rate (SOFR), maturing on May 15, 2028. The transaction garnered significant interest from investors, resulting in an order book of nearly USD 2.1 billion.
Global Sovereign Debt Roundtable fosters understanding on debt sustainability
By Globe Banner | May 8, 2024
The Global Sovereign Debt Roundtable (GSDR), a collaborative platform for debtor countries and creditors, aims to foster a shared understanding of debt sustainability and restructuring challenges. The GSDR seeks to develop strategies to effectively address these issues.
YES BANK and EBANX Announce Strategic Partnership to Empower Cross-Border Commerce in India
By Globe Banner | May 7, 2024
MUMBAI, India and CURITIBA, Brazil, May 7, 2024 /PRNewswire/ -- In a move set to revolutionize cross-border commerce in India, YES BANK, a leading private sector bank in India, and EBANX, a global fintech company specialized in payment solutions for emerging markets, have announced a strategic partnership focused on payment processing in India for the global digital economy.The collaboration between YES BANK and EBANX aims to streamline cross-border payment processing and enhance global commerce opportunities for both global merchants and Indian customers. Leveraging...
Pudu Robotics Unveils Advanced Smart Cleaning Technology at Interclean Amsterdam
By Globe Banner | May 7, 2024
AMSTERDAM, May 7, 2024 /PRNewswire/ -- Pudu Robotics, a global leader in service robotics, is all set to showcase its advanced smart cleaning technology at the prestigious Interclean Amsterdam 2024. The event, known as the largest professional cleaning trade show globally, will provide a platform for industry professionals to explore cutting-edge innovations in the cleaning and hygiene sector.The highlight of the exhibition will be the official launch of the PUDU SH1, a smart upright scrubber dryer designed to revolutionize cleaning efficiency and effectiveness. Pudu...
Digitrans Project Aims to Boost Digitalization in European MSMEs
By Globe Banner | May 7, 2024
The European Union's dual digital and green transitions, as well as enhancing competitiveness of the EU economy, depend on the widespread adoption and productive use of digital tools by firms. While the COVID-19 pandemic accelerated digitalization among companies, the gap between the most and least digitalized firms has expanded, threatening the collective progress towards achieving these goals. With digital technologies becoming increasingly accessible, the key to successful digitalization lies in the capacity of firms to leverage technology for productive use.