Latest News
Antiguan women lead local conservation efforts supported by international funding
By Globe Banner | Jul 16, 2024
Port of Spain, 28 June 2024 – “Growing up, people weren’t telling us to be marine ecologists; people weren’t telling us to go out and study the environment,” recalls Johnella Bradshaw of the Environmental Awareness Group (EAG) in Antigua and Barbuda. Instead, Johnella and her peers were encouraged to pursue careers in law and medicine. But once Johnella discovered her passion for the environment, she realized the importance of conservation. “We understand why people were pushing those career paths our way, but we survive on this earth, on our island, and if we are not...
Trade facilitation program aims for inclusive growth in MENA region
By Globe Banner | Jul 16, 2024
The Trade Facilitation Support Program in the Middle East and North Africa (MENA) region, funded by the Government of Sweden, aims to streamline trade processes, reduce costs, and enhance connectivity. The initiative is designed to boost regional and international trade by aligning with international standards and focusing on inclusive growth. This approach is expected to drive economic development, reduce poverty, and create opportunities across the MENA region.
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.
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.
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.
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.
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.
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.”
Efforts underway to transform remittance landscape for economic empowerment
By Globe Banner | Jul 11, 2024
June 16th marked the International Day of Family Remittances, a significant occasion for millions worldwide. To honor this day, the World Bank, in collaboration with the Bank of Albania, organized the MONEY smART Exhibition. This event aimed to highlight the crucial role remittances play in Albania's economy—as a lifeline for families, a macroeconomic stabilizer, and a gateway to financial inclusion. The exhibition was part of the Remittances and Payments Program (RPP), which is implemented across the Western Balkans with financial support from the Swiss Secretariat of...
World Bank joins multilateral banks in commitment to sustainable procurement
By Globe Banner | Jul 10, 2024
The World Bank has joined eleven other Multilateral Development Banks (MDBs) to release a statement reflecting their commitment to integrating sustainable procurement into their development operations.
World Bank launches fiscal year with GBP 750 million bond issuance
By Globe Banner | Jul 10, 2024
The World Bank (International Bank for Reconstruction and Development, IBRD) has initiated its Fiscal Year 2025 funding program with the pricing of a 7-year British pound sterling (GBP) benchmark bond due July 2031. The GBP 750 million Sustainable Development Bond (SDB) attracted investors seeking a secure and liquid product while supporting the World Bank's development initiatives.
World Bank debars Indonesian consultancy firm PT. LPPSLH Konsultan for 65 months
By Globe Banner | Jul 10, 2024
The World Bank Group announced today the 65-month debarment of Indonesia-based consulting company PT. LPPSLH Konsultan in connection with fraudulent, corrupt, and obstructive practices related to the Investing in Nutrition and Early Years Project in Indonesia.
Cattle industry in Tocantins embraces technology bridging generational gaps
By Globe Banner | Jul 10, 2024
A visit to Agropecuária Água Benta, located in Ponte Alta, Tocantins, reveals contrasting approaches to cattle farming between André Seabra, a 39-year-old farmer, and his grandparents, Ivone and Zenon Pinto, aged 82 and 90 respectively. The farm houses 700 cattle, predominantly of the Nelore breed, focusing on raising calves.
World Bank grants $200M for Zambian drought relief
By Globe Banner | Jul 9, 2024
LUSAKA, July 9, 2024— Over 1.6 million vulnerable Zambians affected by a severe drought are set to benefit from a new World Bank grant aimed at addressing the adverse effects of the ongoing drought, the worst in the last 40 years.