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NAIROBI, July 30, 2024 — The World Bank’s Board of Executive Directors has approved Development Policy Financing (DPF) that introduces for the first time drought index insurance to 180,000 of Somalia’s pastoralists, including 90,000 women.

World Bank Group appoints Radi Anguelova as Vice President for Human Resources

The World Bank Group has announced the appointment of Radoslava “Radi” Anguelova as Vice President for Human Resources, effective immediately. The announcement was made by World Bank Group President Ajay Banga on July 30, 2024.

World Bank appoints Sangbu Kim as first VP for digital transformation

World Bank Group President Ajay Banga announced today the appointment of Sangbu Kim as the World Bank’s first Vice President for Digital Transformation.

WTO releases annual report highlighting resilience and future direction

The World Trade Organization (WTO) has released its 2024 Annual Report, marking the organization's 30th anniversary. In an opening message, Director-General Ngozi Okonjo-Iweala emphasized the WTO's role in leveraging trade to enhance living standards, create better jobs, and promote sustainable development.

Starbucks receives 'worst' possible rating from Ethical Consumer for supply chain management

Ethical Consumer, a consumer advocacy organization, gave coffee giant Starbucks its "worst Ethical Consumer" rating for its supply chain management, echoing concerns expressed by vendors and employees for years.

World Bank appoints Tania Meyer as new country manager for Cambodia

Phnom Penh, July 29, 2024—The World Bank has appointed Tania Meyer as its new Country Manager for Cambodia.

Efforts bolster food security amid desert locust crisis in South Sudan

Desert locusts are the most destructive migratory agricultural pests globally, with a small swarm capable of consuming as much food in one day as 35,000 people. The upsurge that began affecting South Sudan in April 2020 was driven by climate change and conflict. Two cyclones hit the Arabian Peninsula in 2018, preventing effective swarm control due to ongoing conflicts in Yemen and Somalia. By April 2020, 23 countries were affected. Swarms reached South Sudan in March 2020, damaging over 20,000 hectares of crops; insecurity and COVID-19 restrictions prevented a full damage...

World Bank approves $600 million for Türkiye's earthquake recovery

The World Bank Board has approved $600 million in financing to support the revival of micro enterprises destroyed or severely damaged by the earthquakes that struck Türkiye in February 2023.

World Bank approves $150 million boost for Azerbaijan's employment support program

The World Bank’s Board of Executive Directors has approved an additional $150 million in financing to expand the ongoing Azerbaijan Employment Support Project (AESP). The project aims to assist vulnerable populations, particularly internally displaced persons, women, youth, and the long-term unemployed, by promoting self-employment opportunities.

World Bank supports Serbia's real estate management with $32.5M loan

The World Bank’s Board of Executive Directors has approved a EUR30 million ($32.5 million equivalent) loan for the Second Real Estate Management Project, aimed at enhancing Serbia's real property management systems.

Business leaders outline priorities ahead of Hungarian EU presidency

By Globe Banner | Jul 28, 2024

The Presidents and Directors General of BusinessEurope’s member federations convened in Budapest today, hosted by the Hungarian member federation MGYOSZ – BusinessHungary. The gathering aimed to communicate business priorities for the European Union as Hungary prepares to assume the Presidency of the Council of the European Union. Key discussions were held with Tamás Sulyok, President of Hungary, Màrton Nagy, Minister for the National Economy of Hungary, and Enrico Letta, author of a recent report on the future of the Single Market.

Biden discusses Gaza crisis with Jordan's King Abdullah II

By Globe Banner | Jul 28, 2024

President Joseph R. Biden, Jr. held a conversation with His Majesty King Abdullah II of Jordan to discuss the ongoing humanitarian efforts in Gaza and other regional issues.

Town hall meeting for U.S. citizens scheduled in Quetzaltenango

By Globe Banner | Jul 28, 2024

The U.S. Embassy's American Citizen Services unit has announced a Town Hall Meeting for U.S. citizens in Quetzaltenango, Guatemala.

Pilot program launched in Lebanon supports economic empowerment for low-income households

BEIRUT, July 25, 2024 – The Ministry of Social Affairs, the René Moawad Foundation, and the World Bank launched today the Productive Economic Inclusion in Lebanon (PEIL) program. This pilot initiative aims to improve the livelihoods of 1,500 low-income Lebanese households who are current beneficiaries of the Emergency Social Safety Net Program (ESSNP). Funded by a $2.7 million grant from the Japan Social Development Fund, the PEIL program complements the ESSNP by providing services aimed at enhancing household income, welfare, and resilience.

World Bank highlights women's empowerment in Sub-Saharan Africa

Saying that women are vital to ending poverty is particularly relevant in Sub-Saharan Africa. Despite the devastating social and economic effects of the COVID-19 pandemic, women in Western and Central Africa have been challenging norms and stereotypes.

WTO Dispute Panels Established Over EU Citrus Import Measures

South Africa has submitted its second requests for two panels in disputes it initiated concerning European Union regulations governing the importation of citrus fruits. These measures, aimed at controlling the spread of the insect Thaumatotibia leucotreta (False Codling Moth) and the fungus P. citricarpa (citrus black spot), have impacted South African citrus imports. The EU previously declined South Africa's first requests at a DSB meeting on 24 June.

Mauritania's economy shows resilience amid global challenges but faces long-term structural issues