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World Bank discusses strategic partnership with Port of Djibouti
By Globe Banner | Jun 20, 2024
On Tuesday, June 18, a high-level government delegation comprising the Ministers of Economy, Finance and Industry, Infrastructure and Equipment, Trade and Tourism, Budget, along with the President of the Djibouti Port and Free Zones Authority, received a World Bank delegation led by Mr. Nicolas Peltier-Thiberge, Global Director of Transport. The meeting focused on enhancing the partnership between Djibouti and the World Bank.
Global rise in gas flaring reaches highest level since 2019
By Globe Banner | Jun 20, 2024
In 2023, the amount of gas flared worldwide rose by nine billion cubic meters (bcm) to 148 bcm, its highest level since 2019. The increase resulted in an additional 23 million tonnes of carbon dioxide equivalent emissions, an amount similar to adding about five million cars to the roads, finds new satellite data compiled by the World Bank's Global Flaring and Methane Reduction (GFMR) Partnership.
World Bank junior analyst discusses challenges and achievements
By Globe Banner | Jun 19, 2024
Matheus Raka Pradnyatama, a Treasury Junior Analyst at the World Bank, provides insights into his role and experiences. His daily responsibilities include assisting traders in pricing and executing various financial instruments to hedge the World Bank’s balance sheet against interest rate and foreign exchange risks. He also develops cash flow projections for liquidity levels and analyzes funding, loan, and investment portfolios.
Kenya launches analytical program on forced displacement
By Globe Banner | Jun 19, 2024
The Kenya Analytical Program on Forced Displacement (KAP-FD) is a multi-year initiative aimed at enhancing the global understanding of decision-making processes among refugee and host populations. Funded by PROSPECTS, a partnership for improving prospects for host communities and forcibly displaced persons from the Government of the Netherlands, it is implemented by the World Bank and the United Nations High Commissioner for Refugees (UNHCR) in collaboration with UC Berkeley’s Center for Effective Global Action (CEGA). The program's findings are expected to inform government,...
Policy recommendations urge greener transport solutions for Western Balkans
By Globe Banner | Jun 19, 2024
The Western Balkans region is experiencing economic growth but faces challenges in environmental sustainability, particularly in the transport sector. Transport accounts for 15% of the region's greenhouse gas emissions and is the fastest-growing emitting sector. Urgent policy action is needed to address growing energy consumption and emissions and to enable investment for urban interventions. This has environmental implications and affects human health and energy security.
Singapore partners with World Bank Group to launch new Water Center
By Globe Banner | Jun 19, 2024
Singapore and the World Bank Group inaugurated the Singapore Water Center today during the opening of the Singapore International Water Week (SIWW) and CleanEnviro Summit Singapore (CESG). Located within the World Bank Group’s Singapore office, the center aims to leverage Singapore’s expertise in urban water management to support the water sector regionally and globally. It will conduct training activities, joint research projects, and pilot studies of novel technologies to enhance capacity building and serve as a thought leader on water resources management.
World Bank appoints David Sislen as Country Director for Maldives, Nepal, Sri Lanka
By Globe Banner | Jun 19, 2024
WASHINGTON, June 19, 2024—Mr. David Sislen has been appointed as the World Bank’s new Country Director for Maldives, Nepal, and Sri Lanka, effective July 1, 2024.
World Bank report highlights financial instability among developing countries' electric utilities
By Globe Banner | Jun 18, 2024
Only 40% of utilities in developing countries are financially sustainable, jeopardizing energy transition and access goals.
Audit report calls for strengthened procedures in Ghana
By Globe Banner | Jun 18, 2024
Ghana scored a C (8.0-8.5/10) in 2021, according to the SAIs Independence Index review, as shown in the 2021 Global Synthesis Report published by the World Bank.
World Bank report underscores role of electric utilities in global energy transition
By Globe Banner | Jun 18, 2024
The World Bank's new report, "The Critical Link: Empowering Utilities for the Energy Transition," highlights the crucial role of electric utilities in achieving global energy transition and universal access goals. The report calls on policymakers, regulators, utilities, and financiers to address the challenges faced by many electric utilities in developing countries. These challenges include meeting growing power demands and integrating renewable energy sources into their grids.
World Bank report highlights progress on gender equality issues in Uzbekistan
By Globe Banner | Jun 17, 2024
The World Bank’s Uzbekistan Country Gender Assessment Report (CGA), produced with financial support from the government of the United Kingdom, serves as a diagnostic tool to evaluate gender equality in Uzbekistan. The report examines various domains, including education, health, economic activity, protection from gender-based violence, marriage, divorce, and participation in public life.
World Bank reports moderate economic outlook for CEMAC amid rising inflation
By Globe Banner | Jun 17, 2024
The World Bank released its Spring edition of the semi-annual CEMAC Economic Barometer, detailing the recent economic situation in the Central African Economic and Monetary Community (CEMAC) and providing brief country analyses.
World Bank's Axel van Trotsenburg visits Nepal for key international meeting
By Globe Banner | Jun 17, 2024
KATHMANDU, June 17, 2024 — The World Bank’s Senior Managing Director, Axel van Trotsenburg, arrived in Kathmandu today on his first official visit to Nepal. He is scheduled to meet with government officials and other stakeholders and will chair the Third Replenishment Meeting of the International Development Association (IDA), a fund for low-income countries.
World Bank approves $118.5 million loan for Bolivia's climate-resilient road project
By Globe Banner | Jun 17, 2024
The World Bank Board of Directors has approved a new project in Bolivia aimed at enhancing climate risk management in the road sector and improving the resilience and safety of bridges and highways. The initiative comes as Bolivia, ranked tenth on the Global Climate Risk Index, faces significant damage from extreme weather events such as high temperatures and heavy rainfall, leading to landslides and flooding.
NCUA reports Q1 decline in assets for federally insured credit unions
By Globe Banner | Jun 17, 2024
ALEXANDRIA, Va. (June 17, 2024) – For federally insured credit unions, assets and shares and deposits declined at the median over the year ending in the first quarter of 2024. At the same time, loans outstanding increased and delinquencies grew at the median, according to the latest Quarterly U.S. Map Review released today by the National Credit Union Administration.
Morocco enhances climate resilient irrigation amid severe water stress
By Globe Banner | Jun 17, 2024
Morocco, one of the world's most water-stressed countries, faces significant fluctuations in water availability due to climate change. This has led to declining rainfall, reduced runoff, and increased groundwater depletion. A large portion of Morocco's water resources is consumed by irrigated agriculture. To address this issue, Morocco has implemented the National Program of Water Savings in Irrigation, which aims to modernize irrigation on approximately 550,000 hectares, including 220,000 hectares covered by large-scale irrigation plans.
World Bank Group addresses barriers in South Asia's mortgage lending
By Globe Banner | Jun 15, 2024
"My dream is very simple—owning a tiny apartment. It doesn’t have to be extravagant or luxurious, but with basic amenities that I can call home,” says Sakib Ahmed, a 31-year-old from Dhaka, Bangladesh.
World Bank Group initiates stakeholder consultations for new partnership framework in Pakistan
By Globe Banner | Jun 14, 2024
The World Bank Group (WBG) is in the process of preparing a new Country Partnership Framework (CPF) for Pakistan, which will outline its strategic support in the country over the next 6-10 years.
World Bank highlights informal Lao PDR waste workers' contribution
By Globe Banner | Jun 14, 2024
The important and often unrecognized work of individuals who collect and recycle waste from landfill sites or city streets in the Lao PDR is documented in a report issued by the World Bank today. "Unseen Green Jobs, a Study on Informal Waste Workers" details the role of waste pickers in building a green economy and recommends actions to protect them against dangers and improve their legal status.
Côte d'Ivoire receives $35M payment for verified reduction of carbon emissions
By Globe Banner | Jun 14, 2024
Côte d'Ivoire has received $35 million from the World Bank for successfully reducing 7 million tons of carbon emissions. This payment, part of the Emission Reductions Payment Agreement (ERPA) with the World Bank’s Forest Carbon Partnership Facility (FCPF), directly benefits local communities and forest conservation stakeholders who have played a key role in reducing pollution by fixing damaged forests, planting crops and trees, and preserving existing forests. The amount granted is part of a larger agreement aiming for a total emission reduction of 10 million tons, valued at...