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World Bank funds IDEA program for digital transformation in Eastern & Southern Africa
By Globe Banner | Jun 27, 2024
The Inclusive Digitalization in Eastern and Southern Africa (IDEA) program aims to increase internet access and the inclusive use of digitally enabled services. With $2.48 billion in funding from the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), IDEA seeks to address challenges such as limited internet coverage, inadequate data infrastructure, high costs of data and devices, limited digital skills, cybersecurity risks, and data protection. The program will be implemented over eight years with Angola, Democratic...
Inclusive Digitalization Program targets improved internet access across Eastern & Southern Africa
By Globe Banner | Jun 27, 2024
The Inclusive Digitalization in Eastern and Southern Africa (IDEA) program aims to enhance internet access and the use of digitally enabled services across 15 countries and Regional Economic Communities. Funded with $2.48 billion from the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), IDEA addresses challenges such as limited internet coverage, inadequate data infrastructure, high costs of data and devices, limited digital skills, cybersecurity risks, and data protection issues. The program is expected to drive...
WTO panel discusses leveraging opportunities from growing global digital economy
By Globe Banner | Jun 27, 2024
The challenges and opportunities for developing economies, particularly African countries, in exploiting their digital trade potential were discussed at a high-level panel. Speakers emphasized the need for improved digital connectivity, a supportive regulatory environment, and trade capacity building.
Burkina Faso's economy grows amid security crisis; inflation falls
By Globe Banner | Jun 27, 2024
The economy of Burkina Faso demonstrated resilience in 2023, with a growth rate of 3.2% despite ongoing security challenges. Inflation decreased to 0.7%, attributed to declining local product prices. This marked an improvement from the previous year’s sluggish economic performance, where GDP growth was at 1.8%. The successful agricultural season contributed to the downward trend in inflation, which turned negative from May to October 2023.
World Bank urges increased public health spending for sustainable growth
By Globe Banner | Jun 27, 2024
KAMPALA, June 27, 2024 — Economic activity in Uganda has remained resilient despite multiple successive shocks, with real gross domestic product (GDP) accelerating from 5.3% in FY22/23 to an estimated 6% in FY23/24, a new World Bank report notes. The expansion was driven by oil-related construction activity and the growth of the mining and quarrying sector, which benefited from sustained increases in gold prices and an improved domestic environment for artisanal mining.
World Bank launches major initiative for energy efficiency in Europe & Central Asia
By Globe Banner | Jun 27, 2024
The World Bank has announced a significant new regional initiative aimed at accelerating energy efficiency across Europe and Central Asia. The 10-year "Scaling Up Energy Efficiency in Europe and Central Asia Program" (E3 Program) is expected to save over 63 terawatt hours (TWh) of energy, equivalent to Switzerland's annual electricity production, and reduce CO2 emissions by 18.7 million metric tons.
Inclusive Digitalization program aims to expand internet access across Eastern & Southern Africa
By Globe Banner | Jun 27, 2024
The Inclusive Digitalization in Eastern and Southern Africa (IDEA) Program aims to increase internet access and the inclusive use of digitally enabled services across 15 countries. Funded with $2.48 billion from the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD), IDEA seeks to address challenges such as limited internet coverage, inadequate data infrastructure, high costs of data and devices, limited digital skills, cybersecurity risks, and data protection issues. The program's objective is to foster sustainable...
Climate-smart agriculture transforms lives in Eastern Zambia
By Globe Banner | Jun 27, 2024
In Zambia’s Eastern Province, Wilson Banda, a lead farmer, is teaching other farmers at a field school in Katete how planting shade trees can enhance soil nutrients and improve harvests. Training teams of farmers in such practices has transformed the region's negative cycle into a positive one. Previously, poor farming practices caused soil degradation, leading to deforestation for agriculture and further ecosystem disruption. Farmers are now adopting climate-smart agriculture practices such as precision farming, agroforestry, crop rotation, crop diversification, and...
WTO committee adopts key report on implementing Sanitary Phytosanitary Measures Agreement
By Globe Banner | Jun 26, 2024
The MC12 SPS Declaration instructed the SPS Committee to launch a Work Programme to identify challenges in the implementation of the SPS Agreement, the mechanisms available to address them, and the impact of emerging challenges on its application. The Committee established five thematic groups to undertake this work.
WTO’s aid initiative boosts global trade with $648B since inception
By Globe Banner | Jun 26, 2024
The WTO-led Aid for Trade initiative has contributed US$ 648 billion since 2006 to strengthen the export potential of developing economies and least-developed countries (LDCs). The impact of the initiative in improving these economies' capacity to trade is revealed in a new publication — “Aid for Trade at a Glance 2024” — launched by the WTO and the Organisation for Economic Co-operation and Development (OECD) on June 26.
Challenges faced by least developed countries discussed at high-level session
By Globe Banner | Jun 26, 2024
Warsama Dirieh Mohamed, Minister of Trade and Tourism of Djibouti, emphasized the potential of Least Developed Countries (LDCs) in global trade during a high-level session. "It is undeniable that LDCs have significant potential in all fields to cement their development. All the same, despite the natural wealth in LDCs, we can observe a sad reality which is illustrated by the following data: 14% of the global population, 1.3% of global GDP, and less than 1% of goods exports," he stated.
Comoros’ and Timor-Leste’s strategies discussed at Aid for Trade session
By Globe Banner | Jun 26, 2024
WTO members agreed at the 13th Ministerial Conference (MC13) in Abu Dhabi earlier this year to the accessions of Comoros and Timor-Leste, following the finalization of years-long negotiations. Since MC13, both LDCs have prepared their post-accession implementation strategies, in parallel with the ratification of their respective Protocols of Accession and the 2022 Fisheries Subsidies Agreement. Their membership will become effective 30 days after the deposit of their instruments of acceptance with the WTO Secretariat.
WTO-World Bank unveil joint work programme on trade in services
By Globe Banner | Jun 26, 2024
The joint work programme aims to address the challenges developing economies face in unlocking the benefits of services trade and harnessing the sector's export potential.
World Bank reports deepening crises for Yemen's economy amid ongoing conflict
By Globe Banner | Jun 26, 2024
Yemen’s economy continues to face significant hurdles as ongoing conflict and regional tensions exacerbate the nation's economic and humanitarian crises, according to the World Bank’s latest Yemen Economic Monitor. Yemen's GDP is projected to contract by 1.0% in 2024, following a 2.0% contraction in 2023 and modest growth of 1.5% in 2022. Between 2015 and 2023, Yemen experienced a 54% decline in real GDP per capita, leaving the majority of Yemenis in poverty. Food insecurity affects half the population, and youth mortality rates have surged.
Zambia farmers adopt climate-smart practices boosting yields
By Globe Banner | Jun 26, 2024
In Zambia’s Eastern Province, Wilson Banda, a lead farmer, is teaching other farmers at a field school in Katete how planting shade trees can help nutrients in the soil and lead to better harvests.
Report underscores importance of fostering inclusive growth through Somalia's resilient private sector
By Globe Banner | Jun 26, 2024
NAIROBI, June 26, 2024 — Since Somalia’s private sector accounts for an estimated 95 percent of total jobs created, marshaling the private sector to support the country’s development is critical for reconstruction, transitioning from fragility, and generating more inclusive economic dividends for its people. The country also needs to focus on growth to avoid falling back into debt, create jobs, and enhance economic opportunities for citizens.
Federal Credit Union Act celebrates its 90th anniversary
By Globe Banner | Jun 26, 2024
The National Credit Union Administration (NCUA) commemorated the 90th anniversary of the Federal Credit Union Act of 1934, signed into law by President Franklin Delano Roosevelt, which authorized the formation of federally chartered credit unions in all states.
Bhutan partners with World Bank to assess primary healthcare challenges
By Globe Banner | Jun 26, 2024
Bhutan faces emerging health challenges with a shifting burden towards noncommunicable diseases and an aging population. The country continues to address high rates of malnutrition and disparities in access to maternal and child health services. To respond to these evolving challenges and develop a more resilient health system, the Royal Government of Bhutan has partnered with the World Bank to assess the current status and identify strengths and opportunities within the existing primary health care (PHC) system.
WTO emphasizes collaboration for growth of African cotton industry
By Globe Banner | Jun 26, 2024
DG Okonjo-Iweala commended the studies on cotton value chain development in the C4+ (Benin, Burkina Faso, Chad, Mali, and Côte d'Ivoire) conducted by the International Trade Centre (ITC), the United Nations Industrial Development Organization (UNIDO), and Gherzi Textile Organization. She thanked FIFA and the African Export-Import Bank (Afreximbank) for their sponsorship of the studies. “The studies demonstrate the WTO has a big role to play in continuing to bring this partnership together,” she said.
World Bank calls for increased investment in Tanzania's livestock sector amid climate challenges
By Globe Banner | Jun 26, 2024
DAR ES SALAAM, June 2024— Tanzania's livestock sector plays a crucial role in providing livelihoods for millions of citizens, with considerable potential to also play a leading role in regional production and trade. The country’s cattle population of 36.6 million is the second largest in Africa after Ethiopia, representing 1.4% of the global cattle population and 11% of the African cattle population. Tanzania also has a large number of sheep, goats, chickens, and pigs, ranking it among the top ten on the continent in terms of overall livestock amounts.