Latest News
Global Sovereign Debt Roundtable reviews progress on debt restructuring
By Globe Banner | Oct 23, 2024
The Global Sovereign Debt Roundtable (GSDR) convened today in Washington, DC, to evaluate progress on enhancing debt restructuring processes and timelines. The discussions also focused on identifying priority areas for future work aimed at addressing debt vulnerabilities.
KfW report shows tougher credit conditions for German businesses
By Globe Banner | Oct 23, 2024
Banks in Germany have tightened their loan criteria for businesses during the third quarter, according to recent findings from the KfW ifo Credit Constraint Indicator.
World Bank suggests taxing harmful products could benefit Brazil's low-income families
By Globe Banner | Oct 23, 2024
Brazil is considering a strategic approach to taxation that could enhance public health and government revenue, according to a new policy note from the World Bank. The focus is on taxing tobacco, alcohol, and sugary drinks to reduce mortality rates.
World Bank's van Trotsenburg outlines four pillars for tackling climate crisis
By Globe Banner | Oct 22, 2024
Axel van Trotsenburg, Senior Managing Director, addressed the V20 Ministerial Dialogue XIII, emphasizing four key elements crucial to tackling the climate crisis and fostering sustainable growth. He began by highlighting the importance of solid national policies as foundational for building climate ambition. "They can set a clear direction of travel to redirect subsidies to be more effective," he stated.
World Bank launches global programs tackling major development issues
By Globe Banner | Oct 21, 2024
The World Bank Group has introduced a series of Global Challenge Programs (GCPs) designed to address significant development issues with increased efficiency and impact. These programs are a part of the Better Bank initiative, aiming to integrate public and private solutions to global challenges more effectively. The GCPs represent a strategic shift from minor adjustments to substantial innovation, targeting areas where the World Bank Group can make a notable difference.
World Bank highlights Panama's progress but stresses need for equity
By Globe Banner | Oct 21, 2024
Despite its status as a high-income country, Panama continues to grapple with significant inequality. The nation has made strides in reducing poverty and closing social gaps, yet challenges remain on the path to a more equitable society.
Morocco-World Bank partnership strengthens one year after Marrakech Annual Meetings
By Globe Banner | Oct 21, 2024
One year after the Marrakech Annual Meetings, the collaboration between Morocco and the World Bank continues to grow. The meetings in Marrakech gathered global leaders and representatives from various sectors to discuss critical issues such as climate change, debt management, employment, and gender equality. During these discussions, the World Bank revealed its plan to work towards a world free of poverty on a livable planet.
Global North's role in addressing climate risk in developing nations
By Globe Banner | Oct 21, 2024
As the impacts of anthropogenic climate change continue to escalate, developing countries face heightened risks from extreme weather events.
Crecer Sano Project tackles malnutrition among Guatemala's indigenous communities
By Globe Banner | Oct 21, 2024
Guatemala faces significant challenges with chronic malnutrition, particularly in its indigenous communities. Nearly half of the country's children under five suffer from stunting, a condition exacerbated by poverty and limited access to healthcare. In response, the Crecer Sano Project was initiated in 2017 to address these issues, focusing on the first 1,000 days of life.
Yuanta's initiative brings joy to children with immersive tech experience
By Globe Banner | Oct 21, 2024
Yuanta Financial Holding Company and the Yuanta Cultural and Educational Foundation organized the "Yuanta Happiness Day" event on October 19, 2024.
Chainalysis report analyzes global trends in crypto adoption
By Globe Banner | Oct 18, 2024
Chainalysis, a prominent blockchain analytics firm, has released a report examining global cryptocurrency adoption trends. The report highlights the factors driving growth and the evolving regulatory landscape in key regions. Chainalysis published the report on October 17.
Suriname joins World Bank's International Development Association as 175th member
By Globe Banner | Oct 18, 2024
Suriname has officially joined the World Bank Group's International Development Association (IDA), becoming its 175th member. This development marks a notable step in Suriname's ongoing efforts to enhance its economic and environmental resilience.
Kingston waterfront redevelopment aims to enhance economy and community well-being
By Globe Banner | Oct 18, 2024
The World Bank and the Government of Jamaica have entered into a $12 million investment agreement aimed at revitalizing the Kingston waterfront. This initiative is expected to boost economic opportunities, improve quality of life, and attract private investments in Jamaica's capital.
World Bank plans extensive program at COP16 focusing on biodiversity
By Globe Banner | Oct 18, 2024
The World Bank has organized a series of events at the COP16 conference on biodiversity, scheduled to take place in Cali, Colombia from October 21 to November 1, 2024. The events will occur primarily in the Blue Zone and will follow Colombia time (COT - UTC/GMT -5 hours).
Pandemic Fund allocates $418M for global pandemic preparedness
By Globe Banner | Oct 18, 2024
The Pandemic Fund has approved $418 million in new grants to enhance pandemic preparedness in 40 countries across six regions. This marks the second round of funding, following a previous allocation of $128.89 million for five fast-tracked projects supporting ten countries affected by the mpox Public Health Emergency of International Concern. The total funding under this round amounts to $547 million, aiming to mobilize an additional $4 billion for pandemic prevention, preparedness, and response (PPR) investments.
World Bank approves $63M for post-hurricane recovery in St. Vincent & Grenadines
By Globe Banner | Oct 18, 2024
The World Bank has approved $63 million in financing to support recovery efforts in St. Vincent and the Grenadines after Hurricane Beryl caused widespread destruction in July 2024. The funding, provided by the International Development Association, aims to aid communities affected by the hurricane, which was the most powerful storm to hit the region since 1875.
World Bank boosts renewable energy projects in Haiti with $20 million grant
By Globe Banner | Oct 18, 2024
The World Bank has approved an additional $20 million in financing for the "Haiti: Renewable Energy for All Project." This funding, provided by the International Development Association, is intended to enhance renewable energy investments and improve electricity access across Haiti. The current state of Haiti's electricity sector presents a significant barrier to economic growth and effective emergency responses, with only 47.1 percent of the population having access to electricity as of 2021.
Women empowerment key for economic growth in South Asia
By Globe Banner | Oct 17, 2024
Across South Asia, stories of successful working women coexist with a troubling statistic: the region has one of the lowest female labor force participation rates globally. According to the World Bank’s latest South Asia Development Update: Women, Jobs and Growth, only 32 percent of working-age women are employed compared to 77 percent of men.
Economic outlook for Europe and Central Asia shows mixed results
By Globe Banner | Oct 17, 2024
Economic growth in the developing economies of Europe and Central Asia is projected to slow down to 3.3% in 2024, compared to 3.5% in 2023. This deceleration is largely attributed to economic slowdowns in the region's two largest economies, the Russian Federation and Türkiye. The primary drivers of growth are private consumption and supportive fiscal policies, though external demand remains weak due to sluggish economic growth among major trading partners like the European Union.
World Bank releases latest Nigeria Development Update
By Globe Banner | Oct 17, 2024
The Nigeria Development Update (NDU) is a biannual report series by the World Bank. The NDU evaluates recent economic and social developments and prospects in Nigeria, placing these within a longer-term and global context. It also offers an in-depth examination of selected economic and policy issues, as well as an analysis of Nigeria’s medium-term development challenges. The report targets a broad audience, including policymakers, business leaders, financial market participants, and analysts engaged in Nigeria's evolving economy.