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A new package of World Bank support to Fiji, approved last week, will see a major boost for the country’s fiscal, climate, and disaster resilience, as well as efforts to support private sector development.

World Bank Group debars Ernst & Young LLP Kenya over sanctionable practices

The World Bank Group (WBG) announced the 30-month debarment of Kenya-based Ernst & Young LLP (EY Kenya), which provides services including assurance, tax, consulting, advisory, and information technology. The debarment is linked to sanctionable practices within the Somali Core Economic Institutions and Opportunities Program (SCORE) and the Second Public Financial Management Capacity Strengthening Project (PFM II) in Somalia.

World Bank reports slowed remittance growth for LMICs in 2023

After a period of strong growth during 2021-2022, officially recorded remittance flows to low- and middle-income countries (LMICs) moderated in 2023, reaching an estimated $656 billion, according to the World Bank’s latest Migration and Development Brief released today.

Trade aid crucial for developing economies' growth says DG Okonjo-Iweala

Global leaders convened to discuss the impact of the Aid for Trade initiative, which has generated USD 648 billion in investment since its inception in 2006. The session focused on strategies to enhance trade opportunities for lower-income countries.

World Bank Group addresses severe food insecurity in Gaza

The World Bank Group issued a statement today expressing deep concern over the ongoing humanitarian crisis in Gaza. According to a new report by the Integrated Food Security Phase Classification (IPC) initiative, of which the World Bank is a partner, 96 percent of Gaza's population—approximately 2.15 million people—are experiencing high levels of acute food insecurity.

Geneva Week highlights recent developments in international trade

Participants will engage with high-level officials, government representatives based in Geneva, and experts from the WTO Secretariat and the Advisory Centre on World Trade Organization Law. They will also have the opportunity to hear about activities carried out by the Standards and Trade Development Facility.

Fortune Crypto author: Nigerian government may 'regret its unjustified decision' to detain former U.S. federal agent

Jeff John Roberts, author of the Fortune Crypto newsletter, stated that pressure from U.S. officials over the detention of Tigran Gambaryan may be causing Nigerian officials to regret arresting him. Roberts shared his statement in the June 24 edition of the newsletter, which focused on Gambaryan, a former U.S. federal agent and current Binance employee.

NCUA releases annual report on cybersecurity measures for credit unions

The National Credit Union Administration (NCUA) released its annual Cybersecurity and Credit Union System Resilience Report today. The report provides an overview of the current cybersecurity threat landscape, highlights key cybersecurity initiatives, and details ongoing efforts to enhance cybersecurity preparedness and resilience within the credit union industry.

Equatorial Guinea explores pathways towards developing an inclusive digital economy

In the wake of new challenges and its prolonged oil dependency, Equatorial Guinea’s government is aiming for economic diversification as a key course of action for growth and stability. The adoption of digital technologies has the potential to increase the productivity of Small and Medium-sized Enterprises (SMEs), stimulate innovation, and create high-skilled jobs in Equatorial Guinea. Digital transformation could therefore play a critical role in diversifying Equatorial Guinea’s economy in the upcoming years.

WTO's Chairs Programme bridges global gaps through research

The Director-General (DG) of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, engaged with participants on their trade-related projects encompassing research, curriculum development, and policy outreach. These initiatives are implemented in collaboration with the WTO Secretariat.

Equatorial Guinea seeks economic diversification through strategic push towards inclusive digital transformation

In the wake of new challenges and prolonged oil dependency, Equatorial Guinea’s government is aiming for economic diversification as a key course of action for growth and stability. Digital transformation could play a critical role in driving diversification, financial inclusion, poverty reduction, and job creation. In 2021, the National Development Plan 2035 introduced technology and innovation as a cross-cutting theme, placing the digital economy at the center of the diversification strategy. The government is also implementing the Digital Agenda for Equatorial Guinea...

World Bank announces $700 million financing to support sustainable growth in Egypt

The World Bank has announced a US$700 million Development Policy Financing (DPF) for the Government of Egypt to support the country's transition towards increased private sector participation, enhanced macroeconomic and fiscal resilience, and a greener growth trajectory.

Philippines urged to invest more effectively in human capital

Honorable Secretary Arsenio Balisacan of NEDA, Honorable Secretary Renato Solidum, Jr. of the Department of Science and Technology, other government officials, panelists of this forum, leaders of academia, civil society, the private sector, development partners, esteemed guests, colleagues, and friends. Good morning.

World Bank urges Philippine investment in early childhood development

Increasing investment in children's early development will improve the well-being of all Filipinos and strengthen the country's economic potential, a World Bank report released on Monday said.

World Bank projects steady economic growth for Indonesia amid structural challenges

Indonesia’s economy is projected to grow steadily in the coming years, bolstered by increased public spending, rising business investment, and steady consumer demand, according to a new report from the World Bank.

Cambodia improves maternal-child healthcare through community-based initiatives

Providing equitable access to quality health and nutrition services for women and children in the first 1,000 days of life remains a challenge in Cambodia. Through the Cambodia Nutrition Project, the national government has reformed health and nutrition systems to give local authorities more control over managing and delivering services in their communes/sangkats and villages. The project funded the recruitment and training of 4,459 village health workers — 3,255 of them women — supporting higher quality service delivery across nine provinces.

WTO hosts course on integrating gender into global trade policies

The multifaceted curriculum included technical lectures, interactive sessions, and collaborative exercises. Participants explored the nexus between trade and gender, using practical tools and learning methodologies to integrate gender considerations into trade policies effectively. Key sessions delved into WTO initiatives on trade and gender, emphasizing the importance of mainstreaming gender equality across trade agendas.

World Bank approves $150 million for improving primary healthcare in Sri Lanka

The World Bank’s Board of Executive Directors has approved $150 million in financing for Sri Lanka to enhance the quality and utilization of its primary healthcare services. The newly sanctioned Sri Lanka Primary Healthcare System Enhancing Project aims to improve care quality and increase the use of primary medical care institutions, which provide essential health services to local communities.

Memorial honors Slovak soldier Andrej Babjak at Normandy

Mr. Horňák, Dr. Javor, Major Filipowski, and other distinguished guests gathered to commemorate the life of Andrej Babjak, the only Slovak soldier who participated in the Normandy landings with the 82nd Airborne Division and sacrificed his life...

NCUA releases annual report highlighting growth among minority depository institution credit unions