Latest News
Kyrgyzstan hosts forum spotlighting clean energy investments
By Globe Banner | Jun 10, 2024
VIENNA, June 10, 2024—The Government of the Kyrgyz Republic, with support from the World Bank Group and co-hosted by the Government of Austria, convened high-level delegations from Central Asia, Europe, the Middle East, international financial institutions, and private investors to discuss the future of energy in Central Asia at the Kyrgyz Republic International Energy Investment Forum in Vienna.
World Bank backs $250M project for sustainable water management in Chile
By Globe Banner | Jun 10, 2024
The World Bank Board of Executive Directors has approved a new project to support Chile’s Just Water Transition program, aimed at fostering more sustainable and equitable water resources management. This $250 million initiative will be implemented by the Ministry of Public Works in collaboration with the Ministry of Environment.
World Bank approved as interim host for climate loss and damage fund
By Globe Banner | Jun 10, 2024
The World Bank’s Board of Executive Directors has approved the institution's role as interim secretariat host and trustee for a fund aimed at addressing loss and damage caused by climate change. This decision follows an agreement reached by 198 countries during COP28 to establish financial support for nations most affected by climate impacts.
World Bank approves $45M project for coastal resilience in Guyana
By Globe Banner | Jun 10, 2024
The World Bank has approved a project to aid Guyana in adapting to climate change and mitigating flood risks in its coastal regions. This initiative aims to benefit approximately 320,000 people, or around 40 percent of the country's population, including the most vulnerable groups.
World Bank approves $1B financing for Pakistan's DASU Hydropower Project
By Globe Banner | Jun 10, 2024
The World Bank’s Board of Executive Directors has approved $1 billion in additional financing for the DASU Hydropower Stage I (DHP I) Project in Pakistan. This funding aims to expand hydropower electricity supply, enhance access to socio-economic services for local communities, and bolster the Water and Power Development Authority’s (WAPDA) capacity to prepare future hydropower projects.
Egypt promotes circular and blue economies for sustainability
By Globe Banner | Jun 9, 2024
Over the last two decades, Egypt has pursued sustainable and resilient development. The Ministry of Environment has improved the governance framework and promoted new policy instruments to meet growing environmental challenges. The purpose of this analysis is to help Egypt address some of these environmental challenges by providing strategic guidance to the government to achieve green, resilient, and inclusive growth while creating new jobs.
Bangladesh strengthens sustainable fisheries management with new monitoring system
By Globe Banner | Jun 8, 2024
In the heart of Asia's largest and the world's most populated delta, Bangladesh's sprawling maritime domain spans over 118,000 square kilometers in the Bay of Bengal. Despite this vast marine territory, which can reach a depth of about 2,200 meters, the use of fisheries resources is currently confined to a shallow depth of approximately 80 meters. This is about one-third of the exclusive economic zone of Bangladesh.
Nepal's YETI project creates jobs while conserving heritage sites
By Globe Banner | Jun 8, 2024
Kamalpokhari in Ward 13 of Pokhara Metropolitan City, a site of religious and environmental significance, has been revitalized through a series of conservation efforts. The area, which covers 70 ropanis (3.56 hectares), was nearing extinction but has been restored through cleaning initiatives that provided temporary employment to local residents.
Nepalese initiative helps thousands secure jobs post-pandemic
By Globe Banner | Jun 8, 2024
Sita Lama, a resident of Rainas Municipality in Lamjung of Gandaki Province, faced significant challenges during the COVID-19 pandemic. Her husband, who worked abroad as a security guard, had to return to Nepal after struggling to sustain his job. Despite searching for employment in nearby districts, he found no opportunities. In 2021, their son contracted the coronavirus and required medical treatment, adding to the family's financial burdens. "We had to put our land as collateral for a loan to pay for his treatment," Sita said. Desperate for work, her husband went to India...
Nepal's Youth Employment Transformation Initiative aids thousands amid economic shifts
By Globe Banner | Jun 8, 2024
Manju Devi from Loharpatti Municipality, Mahottari represents the Dom community of Madhesh Province. In the past, Manju and her husband generated income by selling handmade baskets, fences, and various bamboo products. These items have been integral to their culture for years, especially during festivals like Chhath. However, the growing demand for modern construction materials, plastic, and metal wares has compelled them to seek alternative means of income.
Nepal's Youth Employment Transformation Initiative boosts job prospects amid challenges
By Globe Banner | Jun 8, 2024
The Youth Employment Transformation Initiative (YETI) Project is bolstering Nepal's Prime Minister Employment Program to enhance employment services and labor market outcomes for youth, particularly women from impoverished and marginalized communities. The project supports over 135,000 beneficiaries through temporary jobs and other employment services. It is implemented by Nepal’s Ministry of Labor, Employment, and Social Security and financed by the World Bank Group’s International Development Association (IDA).
Nepal's YETI project aids thousands with temporary employment
By Globe Banner | Jun 8, 2024
Usha Bhujel resides in Rainas Municipality in Lamjung of Gandaki Province. Originally from Gorkha, Usha moved to Lamjung with her husband after marriage. Married at 19, she worked in agriculture, growing seasonal vegetables and other crops on her family's land. Her husband worked abroad as a security guard before returning due to the COVID-19 pandemic.
Nepal's youth find purpose through Youth Employment Transformation Initiative
By Globe Banner | Jun 8, 2024
Gujri Devi Ban is from Aurahi Rural Municipality, Dhanusha, in Nepal’s Madhesh Province. She has been part of the temporary employment program under the Youth Employment Transformation Initiative (YETI) Project since 2021. She is currently employed in the construction and maintenance of gardens around the Aurahi Rural Municipality offices.
World Bank launches enterprise survey in Malaysia for B-READY project
By Globe Banner | Jun 7, 2024
The World Bank’s Enterprise Analysis Unit is currently collecting data to gather feedback from private sector enterprises on the state of the business environment among firms in Malaysia. This initiative is part of the World Bank Enterprise Surveys and will run from March to November 2024.
Nepalese cities transform with IDA-backed urban governance initiative
By Globe Banner | Jun 7, 2024
Far from the bustling streets of Kathmandu, Nepal’s federal capital, a quiet revolution is transforming secondary cities across the country. This transformation is led by local governments as they take charge of their development agendas under the federal structure introduced in 2017.
World Bank report highlights steps for reducing poverty sustainably in Bangsamoro
By Globe Banner | Jun 6, 2024
Maintaining peace, supported by increasing farm profitability, diversifying income sources, enhancing access to basic social services, and upgrading infrastructure will accelerate poverty reduction in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), according to the World Bank’s Philippines Economic Update released today.
World Bank approves $400 million project for environmental reform in Dominican Republic
By Globe Banner | Jun 6, 2024
The World Bank has approved a new project to assist the Dominican Republic in promoting key institutional reforms for climate resilience, reducing water, soil, and air pollution, and enhancing natural resource protection. The US$400 million project aims to strengthen the government's institutional and financial capacity for environmental protection, with positive effects on public health and the livelihoods of communities involved in tourism and fishing activities.
West African nations combat coastal erosion through collaborative efforts
By Globe Banner | Jun 6, 2024
When the powerful waves crashed onto the shores of Aného, Togo, and Grand Popo, Benin in April 2024, communities of these neighboring West African border towns were unfazed. Seeking relief from the hot sun, they gathered under coconut trees to enjoy the fresh sea breeze.
World Bank reports slight economic improvement for Cambodia driven by export revival
By Globe Banner | Jun 6, 2024
Cambodia's economic activity showed signs of improvement in the first quarter of 2024, driven by a resurgence in services and goods exports, despite weak domestic demand, according to the World Bank's Cambodia Economic Update released today.
World Bank extends PROBLUE Ocean Trust Fund through 2030
By Globe Banner | Jun 6, 2024
Global demand for blue economy initiatives is soaring, prompting PROBLUE to seek additional funding to support countries and regions in their development efforts.