Latest News
Solar power expands electricity access in rural Malawi
By Globe Banner | Jun 20, 2024
Lilongwe – As the sun sets in most villages in Malawi, darkness brings anxiety for many, particularly school-going children. Only 23% of Malawi’s population has access to electricity. Many households rely on battery-powered torches, candles, and kerosene lamps for lighting. This struggle impacts daily life, security, and food preparation.
World Bank approves $275 million credit for Cambodia's economic growth
By Globe Banner | Jun 20, 2024
The World Bank Board of Directors approved $275 million in credit to support Cambodia’s efforts to promote long-term economic growth and resilience. The financing, sourced from low-interest International Development Association funds for developing countries, aims to enhance private sector competitiveness, strengthen the country's fiscal position, and provide assistance to the most vulnerable populations.
World Bank approves $535 million for social protection and climate-smart growth in Pakistan
By Globe Banner | Jun 20, 2024
The World Bank’s Board of Executive Directors has approved $535 million in financing for Pakistan to support two projects aimed at enhancing social protection and promoting climate-smart growth in the livestock and aquaculture sectors. The additional financing for the Crisis Resilient Social Protection (CRISP) Program seeks to fortify the country's social protection system and build resilience among poor and vulnerable households. Concurrently, the Sindh Livestock and Aquaculture Sectors Transformation (LIVAQUA) Project will foster climate-smart practices among small and...
World Bank supports modernization of Gambian agriculture through GIRAV initiative
By Globe Banner | Jun 20, 2024
Jongfolo Korta looks at her rice field with satisfaction. She is among the many small farmers in the Eastern region of Jahally, in The Gambia, where agriculture is thriving.
Binance CEO: 'Macron's government has been very supportive of technological innovation'
By Globe Banner | Jun 20, 2024
Binance CEO Richard Teng stated that the French government's regulation and support of technological innovation have benefited the crypto industry. Teng shared his statement on an episode of the Bankless podcast on June 17.
Croatia embarks on $116M initiative for dual transition
By Globe Banner | Jun 20, 2024
The USD 116.4 million Croatia Digital, Innovation and Green Technology (DIGIT) Project will facilitate the digital transformation and green transition of the Croatian economy, increase resources for applied research and experimental development, and support the authorities' efforts to strengthen institutional capacity to deliver research and innovation policies.
Sint Maarten showcases recovery progress at Results Fair
By Globe Banner | Jun 20, 2024
On a regular busy day in Sint Maarten, the sun casts a glimmering reflection over the island’s blue waters. Philipsburg’s four-street runway is lined with retail shops and restaurants, and businesspeople welcome customers into their premises. This is the calm after the storm.
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.