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World Bank approves $150 million loan for Bahia's road improvements
By Globe Banner | Sep 10, 2024
The World Bank Board of Directors has approved a new project to upgrade road infrastructure in the state of Bahia, Brazil, benefitting 2.35 million people.
World Bank supports global shift towards sustainable public procurement
By Globe Banner | Sep 10, 2024
The choices made in procurement today can significantly influence the world of tomorrow. Unsustainable decisions support industries detrimental to the environment and society, while sustainable procurement promotes practices that benefit both the planet and communities. In 2022, the global public procurement market was estimated at $12-13 trillion. The potential impact if this spending were guided by climate and social considerations is substantial.
Binance announces Tokocrypto's PFAK license in Indonesia
By Globe Banner | Sep 10, 2024
Binance announced that Tokocrypto, part of the Binance group, has received a Physical Crypto Asset Trader (PFAK) license from Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti). This license allows Tokocrypto to operate as a physical crypto-asset trader and support the country's Web3 industry.
World Bank funds Rwandan youth skills program
By Globe Banner | Sep 9, 2024
Washington, September 9, 2024 — The World Bank has approved new funding to empower and build the skills of more than 200,000 youths in Rwanda through the Priority Skills for Growth and Youth Empowerment (PSGYE) Program.
Philippines' path to sustained economic growth amidst global challenges
By Globe Banner | Sep 9, 2024
Thirty-seven years ago, when this newspaper was reformed under its new name, the average Filipino earned less than one-tenth of the income of the average high-income person. Since then, the Philippine economy has experienced significant growth. Today, that same average Filipino earns almost one-third of the income of his peers in high-income countries — still a large gap but a narrowing one. The value Filipinos add at work has doubled in real terms since the late 1980s. However, this growth was not uniform over the 37 years. The past decade, even with the COVID-19 shock that...
Binance announces appointment of Grant Thornton for global accounting services
By Globe Banner | Sep 7, 2024
Binance announced the appointment of Grant Thornton Singapore to provide global accounting and tax advisory services. Grant Thornton will help Binance align its accounting policies with International Financial Reporting Standards (IFRS) and improve its accounting practices.
World Bank advances real-time welfare monitoring initiatives
By Globe Banner | Sep 6, 2024
In today's rapidly changing world, timely development data is crucial for effective policymaking. The World Bank and its partners are working to invest in frontier approaches to monitor poverty and welfare in real time. By combining traditional data sources with cutting-edge technologies and methodologies, the aim is to develop advanced tools to inform decision-making and strengthen the adaptive capacity of policies.
World Bank strengthens banking ties for seven Pacific nations
By Globe Banner | Sep 6, 2024
Seven Pacific Island countries will maintain uninterrupted access to the global financial system through a new World Bank project aimed at strengthening correspondent banking relationships in the region. The initiative, announced by World Bank Group President Ajay Banga during his first visit to the area, is designed to support Fiji, Kiribati, Republic of the Marshall Islands, Samoa, Tonga, Tuvalu, and Vanuatu. Additionally, it includes one regional organization, the Pacific Islands Forum.
World Bank partners with South Sudan on $18M project
By Globe Banner | Sep 6, 2024
The World Bank Group Executive Board of Directors has approved International Development Association (IDA) grant financing to the Government of the Republic of South Sudan (GoSS) to support the strengthening of institutional and human resource capabilities in the public service. The IDA grant of $15 million will be supplemented by GoSS counterpart funding of $3 million, bringing the total project amount to $18 million.
World Bank outlines strategies for sustainable economic growth in Bhutan
By Globe Banner | Sep 6, 2024
Bhutan has achieved significant progress in poverty reduction, human development, and economic growth over the past decades, primarily driven by its hydropower sector and human development policies. To maintain this momentum and generate quality jobs for its youth, the country must diversify its economy beyond hydropower and implement agricultural and financial sector reforms, according to a new World Bank report.
Mariama Cire Sylla named as resident representative for Namibia
By Globe Banner | Sep 6, 2024
Windhoek, Namibia, September 6, 2024 – Effective October 1st, 2024, Mariama Cire Sylla will become the World Bank Group’s joint Resident Representative for Namibia.
Mauritania expands social protection programs amid growing economic challenges
By Globe Banner | Sep 5, 2024
Henniya mint Teyib is among over 200,000 impoverished households registered in the Social Registry database benefiting from the Tekavoul National Social Transfer Program. This initiative is part of several adaptive and transformative social protection programs implemented by the Mauritanian government with support from the International Development Association (IDA), the World Bank's fund for low-income countries.
Efforts improve Ethiopian pre-primary education outcomes through targeted interventions
By Globe Banner | Sep 5, 2024
Eldana, a 6-year-old student in Dire Dawa, Ethiopia, is part of the O-Class, a pre-primary educational program aimed at improving learning outcomes by better preparing students for primary school. The program employs a play-based curriculum and provides teacher training and learning materials. Before O-Class was introduced, primary education completion rates in Ethiopia were at 50%, partly due to irregular attendance and late enrollment.
World Bank Group partners with South Sudan on institutional development
By Globe Banner | Sep 5, 2024
JUBA, September 5, 2024—The World Bank Group Executive Board of Directors has approved International Development Association (IDA) grant financing to the Government of the Republic of South Sudan (GoSS) to support strengthening institutional and human resource capabilities in the public service. The IDA grant of $15 million will join GoSS counterpart funding of $3 million, bringing the total project amount to $18 million.
World Bank approves $40 million project to boost Moldova's disaster preparedness
By Globe Banner | Sep 5, 2024
CHISINAU, September 5, 2024—The World Bank’s Board of Executive Directors approved a $40 million financing package for the Strengthening Moldova’s Disaster Risk Management and Resilience (SMORE) Project. The initiative aims to enhance Moldova’s preparedness for natural hazards and climate-related shocks that threaten lives, homes, and critical infrastructure.
World Bank initiatives boost global access to skilled birth attendance
By Globe Banner | Sep 5, 2024
Pregnancy and childbirth are critical periods for women, particularly in countries with limited access to reproductive and maternal healthcare. While the continuum of reproductive and maternal healthcare is essential for healthy pregnancies and maternal and child survival, skilled birth attendance is especially important for reducing maternal and neonatal mortality risks. However, barriers such as cost, mobility, quality of services, and social norms often prevent women from accessing these services. Disruptive events like the COVID-19 pandemic, disasters, and conflicts...
World Bank highlights need for sustainable chemical management at Berlin forum
By Globe Banner | Sep 5, 2024
Axel van Trotsenburg, the Managing Director of Operations at the World Bank, addressed the Third Berlin Forum on Chemicals and Sustainability on September 5, 2024. His remarks focused on the vision of "A Planet Free of Harm from Chemicals and Waste," a concept adopted during the 5th International Conference on Chemicals Management under Germany's presidency.
NCUA reports Q2 growth in credit union assets but notes rising delinquencies
By Globe Banner | Sep 5, 2024
The National Credit Union Administration (NCUA) has released its second-quarter 2024 financial performance data for federally insured credit unions. The report indicates a rise in total assets by $79 billion, or 3.5 percent, reaching $2.3 trillion over the year ending in the second quarter of 2024. The delinquency rate increased to 84 basis points, up 21 basis points from the same period in 2023. Net income for the first half of 2024 totaled $15.7 billion annually, a decrease of $1.8 billion or 10.1 percent from the previous year.
Sri Lanka completes pandemic preparedness assessment amid aging population concerns
By Globe Banner | Sep 5, 2024
The Sri Lanka Pandemic Preparedness Assessment, conducted from 2020 to 2023, aimed to assist the government in optimizing health investments and enhancing preparedness for future pandemics, with a particular focus on addressing the needs of a rapidly aging population.