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IMF & World Bank announce Bretton Woods at 80 initiative
By Globe Banner | Jul 1, 2024
WASHINGTON, July 1, 2024—In recognition of the 80th anniversary of the United Nations Monetary and Financial Conference (the “Bretton Woods Conference”), the International Monetary Fund and the World Bank Group today announced the launch of a consultation tasked with developing a long-term view on the future of the world economy, international cooperation, and the roles of the Bank and the Fund.
Nordea to release half-year financial results on July 15
By Globe Banner | Jul 1, 2024
Nordea Bank is set to release its half-year financial results for 2024 on July 15.
Sustainable initiatives transform livelihoods for Amazonian communities
By Globe Banner | Jul 1, 2024
Roberto Brito de Mendonça, 48, a community leader from Tumbira, inherited the logging trade from his father and grandfather. For 26 years, he endured many hungry nights in the forest. By day, he cut down trees that would sell for a fair price in the market. This all changed in 2010 when the Bolsa Floresta Program (PBF), a public policy from the Brazilian state of Amazonas, provided resources and training for the community to develop sustainable, community-based businesses, including tourism.
World Bank Group launches unified guarantee platform aiming for $20 billion annual issuance
By Globe Banner | Jul 1, 2024
Starting today, the World Bank Group (WBG) guarantee platform is operational. The platform, hosted by the Multilateral Investment Guarantee Agency (MIGA), consolidates products and expertise from the World Bank, International Finance Corporation (IFC), and MIGA to enhance simplicity, efficiency, and speed in development financing. It aims to increase WBG annual guarantee issuance to $20 billion by 2030.
Camille Nuamah appointed as World Bank manager for Bolivia
By Globe Banner | Jul 1, 2024
La Paz, July 1, 2024 – Camille Nuamah has assumed the role of World Bank Group Country Manager for Bolivia. This position aims to unify country-level leadership across the institution to better support Bolivia’s public and private sector priorities. The new role provides a single point of contact for accessing the full range of World Bank Group products and services, enhancing the institution's ability to address global challenges and drive development with increased speed, efficiency, and impact.
Burkina Faso urged to adopt reforms for sustainable economic transformation
By Globe Banner | Jun 28, 2024
The latest Country Economic Memorandum for Burkina Faso reveals that rapid economic growth over the past two decades has not resulted in the structural transformation needed for future success.
World Bank launches two major economic reports for Burkina Faso
By Globe Banner | Jun 28, 2024
OUAGADOUGOU, June 27, 2024 – The World Bank today launched two significant economic reports for Burkina Faso: the Burkina Faso Economic Update and the Country Economic Memorandum (CEM).
World Bank highlights need for improved public spending on healthcare in Uganda
By Globe Banner | Jun 28, 2024
The Ugandan economy remains resilient and is growing amid intensifying climate shocks and a challenging global environment. The outlook is positive, buoyed by diversified exports and investments in developing oil export infrastructure ahead of the start of oil production in 2025, according to the new World Bank Uganda Economic Update: Improving Public Spending on Health to Build Human Capital. The report notes that real gross domestic product (GDP) growth accelerated from 5.3% in FY22/23 to an estimated 6% in FY23/24. Low inflation and recovery of real income and employment...
NCUA issues prohibition orders against three individuals
By Globe Banner | Jun 28, 2024
The National Credit Union Administration (NCUA) issued one consent and two prohibition notices in June 2024, permanently prohibiting three individuals from participating in the affairs of any federally insured depository institution.
World Bank approves $1.5 billion financing to aid India's low-carbon transition
By Globe Banner | Jun 28, 2024
The World Bank’s Board of Executive Directors has approved $1.5 billion in financing to support India’s transition to low-carbon energy. The operation aims to develop a market for green hydrogen, scale up renewable energy, and stimulate finance for low-carbon investments.
World Bank appoints Dina Abu-Ghaida as new country manager for Yemen
By Globe Banner | Jun 28, 2024
The World Bank Group announced the appointment of Dina Abu-Ghaida as Country Manager for Yemen, a role aimed at unifying country-level leadership to support both public and private sector priorities. Based in Amman, Jordan, Abu-Ghaida will lead the institution’s engagement in Yemen, involving policy dialogue with government officials, civil society, the private sector, and development partners.
World Bank approves $300M loan for energy transition in China's Shaanxi province
By Globe Banner | Jun 28, 2024
The World Bank’s Board of Executive Directors has approved a US$300 million (€276.5 million) loan to support the transition to renewable and low-carbon energy sources in China’s Shaanxi province's heating sector. The project also aims to pilot a pricing reform program.
World Bank approves funding for resilient schools and economic recovery in Philippines
By Globe Banner | Jun 28, 2024
The World Bank's Board of Executive Directors has approved funding support for two government projects aimed at ensuring safer and more resilient schools, as well as strengthening economic recovery in the Philippines.
World Bank approves $650 million for Bangladesh's Bay Terminal development
By Globe Banner | Jun 28, 2024
Washington, June 28, 2024—The World Bank’s Board of Executive Directors today approved $650 million to help Bangladesh invest in infrastructure critical for developing the Bay Terminal deep seaport. This development aims to improve Bangladesh's global trade competitiveness and reduce import and export costs by increasing port operational efficiency and mobilizing private investment.
World Bank approves $110 million loan to improve healthcare in Armenia
By Globe Banner | Jun 28, 2024
Washington, June 28, 2024 — The World Bank’s Board of Executive Directors has approved a loan amounting to $110 million (EUR 102 million) to support the Enabling Universal Health Coverage Program for Armenia. This initiative aims to enhance the quality of primary health care, ensure accessible services nationwide, and increase the efficiency of government healthcare spending. It aligns with the Government of Armenia's Five Year Action Plan (2021-2026) and is part of the national Healthcare System Development Strategy.
World Bank approves $200M loan for sustainable fodder production in China's Gansu
By Globe Banner | Jun 28, 2024
The World Bank's Board of Executive Directors has approved a US$200 million (€186.5 million) loan aimed at enhancing productivity, reducing methane and other greenhouse gas (GHG) emissions, and improving climate resilience in the livestock sector of China's Gansu province.
Lao PDR commits renewed efforts towards combating childhood malnutrition
By Globe Banner | Jun 27, 2024
At the Second Lao PDR Human Capital Summit today, the Lao government announced a renewed commitment to tackling malnutrition, recognizing that proper nutrition in a child’s first 1,000 days will determine a person’s intelligence and strength for life.
World Bank approves $600 million for Türkiye's flood and drought resilience
By Globe Banner | Jun 27, 2024
The World Bank Board has approved $600 million in financing to support Türkiye's efforts to enhance resilience against floods and droughts, which are becoming more frequent and severe due to climate change. The Türkiye Flood and Drought Management Project aims to increase flood control for residents in flood-prone areas, improve farmers' drought-monitoring capacity, and strengthen the country's institutional capacity for managing flood and drought risks.
World Bank official emphasizes urgent action needed for climate resilience
By Globe Banner | Jun 27, 2024
Axel van Trotsenburg, Senior Managing Director of the World Bank, addressed the UST-USAID High-Level Dialogue on Financing for Climate Resilience on June 27, 2024. In his remarks, he emphasized the urgency of addressing climate change as 2024 has already experienced numerous heatwaves and record-breaking temperatures.
World Bank launches $2.48 billion initiative for digital inclusion in Africa
By Globe Banner | Jun 27, 2024
WASHINGTON, June 27, 2024 – A new program aimed at benefiting over 180 million people by 2032 is set to significantly increase internet access and the inclusive use of digitally enabled services in Eastern and Southern Africa.