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Bangladesh advised on adopting comprehensive strategies for sustainable development
By Globe Banner | Jun 13, 2024
DHAKA, June 13, 2024 — To achieve its vision of becoming an Upper Middle-Income Country by 2031, Bangladesh will need to adopt green growth strategies. This approach can be realized through institutional strengthening, regulatory reforms, climate-responsive public and private finance, and an enabling policy framework, according to a new World Bank report launched today.
Argentina urged to diversify economy for sustained growth
By Globe Banner | Jun 13, 2024
Argentina, endowed with abundant natural resources and a well-educated workforce, holds significant potential for sustained and inclusive economic growth. The country is home to the world's second-largest lithium deposits, the second-largest gas reserves, and the fourth-largest petroleum reserves. Additionally, Argentina ranks third in global soybean production.
Canada pledges $200 million to World Bank's hybrid capital initiative
By Globe Banner | Jun 13, 2024
Canada Pledges US$200 Million to World Bank’s Hybrid Capital
World Bank's Africa Office guides policy reforms with timely research
By Globe Banner | Jun 13, 2024
The Office of the Chief Economist in the Africa Region provides guidance on strategic priorities and generates timely, relevant knowledge on policy and institutional reforms in Sub-Saharan Africa. It produces research articles and reports on pressing development issues, disseminates knowledge widely, provides inputs that enrich the World Bank’s work in African countries, and fosters a strong community of economists within the World Bank and on the continent to advance the region’s development.
DPP outlines post-MC13 strategy focusing on plastics pollution
By Globe Banner | Jun 13, 2024
Several coordinators of the Dialogue — Australia, China, Ecuador, and Morocco — welcomed Mongolia and Mozambique as new members of the DPP, nearing the milestone of reaching half of the WTO membership. Praising the strong engagement of members, they said the Dialogue is moving to a new phase and will focus its work on specific items to achieve concrete outcomes.
World Bank Group initiates stakeholder consultations in Pakistan
By Globe Banner | Jun 13, 2024
The World Bank Group (WBG) will conduct a series of consultative discussions and surveys throughout June and July 2024 to engage stakeholders in Pakistan. The purpose is to gather inputs on the country's development priorities.
Myanmar's economic outlook remains bleak amid ongoing conflicts
By Globe Banner | Jun 12, 2024
YANGON, June 12, 2024 — Myanmar’s economy continues to face significant challenges and growth is expected to remain feeble as conflict, macroeconomic instability, and dislocation constrain production, according to a new report.
World Bank supports reform in Ghana's energy sector with $260 million funding
By Globe Banner | Jun 12, 2024
WASHINGTON, June 12, 2024 – The World Bank has approved a $250 million credit from the International Development Association (IDA) and a $10 million grant from the Energy Sector Management Assistance Program for a four-year Ghana Energy Sector Recovery Program for Results (PforR). This initiative aims to support Ghana’s Energy Sector Recovery Programme (ESRP) by enhancing the financial viability of electricity distribution and increasing access to clean cooking solutions.
World Bank funds $30 million governance reform project in Liberia
By Globe Banner | Jun 12, 2024
WASHINGTON, June 12, 2024 – The World Bank approved financing for the Governance Reform and Accountability Transformation (GREAT) Project. This flagship project, funded by an International Development Association (IDA) credit of US$30 million, aims to enhance access to selected digitally provided public services, raise tax revenues, and improve the openness and accountability of institutions. It will also strengthen the use of country systems and sustainably build the capacity of civil servants to implement reform programs.
Government Procurement Committee addresses gender issues; reviews Albania's accession progress
By Globe Banner | Jun 12, 2024
Gender and Albania’s accession take centre stage at Government Procurement Committee
WTO DG Okonjo-Iweala welcomes President Assoumani of Comoros
By Globe Banner | Jun 12, 2024
President Assoumani and Director-General Okonjo-Iweala agreed that capacity-building support from the WTO and development partners, such as the World Bank, the African Development Bank, and the UN Trade and Development Agency (UNCTAD), is key to ensuring a successful post-accession strategy. They stated that the upcoming WTO Global Review of Aid for Trade on June 26-28 presents a good opportunity to engage with these and other institutional partners in preparing Comoros for WTO membership.
WTO conducts trade policy review for Iceland
By Globe Banner | Jun 12, 2024
The World Trade Organization (WTO) has released documents related to the Trade Policy Review of Iceland, conducted on June 12, 2024. The available documents include a Secretariat report and a Government report.
Senegal sees GDP growth amid declining inflation
By Globe Banner | Jun 12, 2024
Senegal's economy experienced growth in 2023, driven by the resilience of the primary sector. Real GDP growth is estimated at 4.3%, translating to 1.5% in per capita terms for the year. This marks a slight increase from the 3.8% growth rate recorded in 2022 and surpasses initial projections of 4.1%. Inflation, which had reached a peak of 9.7% in 2022, declined to 5.9%. Additionally, improvements in the current account deficit have bolstered international reserves.
Senegal's economic resilience highlighted amid political tensions
By Globe Banner | Jun 12, 2024
DAKAR, June 12, 2024 - According to the World Bank’s 2024 Economic Update for Senegal, economic growth in the country remained resilient in 2023 despite political tensions and persistent, albeit declining, inflation.
Blinken urges urgent action at humanitarian conference on Gaza
By Globe Banner | Jun 12, 2024
Secretary of State Antony J. Blinken addressed the "Call for Action: Urgent Humanitarian Response for Gaza" conference, expressing gratitude to King Abdullah, President El-Sisi, and Secretary-General Guterres for organizing the event.
Blinken discusses Gaza ceasefire with Jordan's King Abdullah II
By Globe Banner | Jun 12, 2024
Secretary of State Antony J. Blinken held a meeting with King Abdullah II of Jordan at the Dead Sea, as reported by Spokesperson Matthew Miller.
Deadline for proposals for 2024 Public Forum extended to June 21
By Globe Banner | Jun 12, 2024
The deadline for submitting proposals for the 2024 Public Forum has been extended to June 21, 2024. All sessions at the Public Forum are organized by civil society, academia, business, governments, parliamentarians, and intergovernmental organizations.
Ambassador Theriot speaks at commissioning ceremony for GDFS Shahoud
By Globe Banner | Jun 12, 2024
Ambassador Nicole D. Theriot recently addressed the commissioning ceremony of the Guyana Defence Force Ship (GDFS) Shahoud, marking a significant milestone for the Guyana Defence Force and the nation itself.
Evaluation praises work of Standards Trade Development Facility
By Globe Banner | Jun 12, 2024
The evaluation, conducted by Project Economics Consulting, states: “Stakeholders, overall, are highly satisfied with the progress and performance of the STDF.” The initiative is contributing to increased SPS capacity across developing countries and its work largely aligns with its partners and other major SPS and safe trade initiatives, the evaluation highlights.
Committee discusses aligning Harmonized System with environmental goals
By Globe Banner | Jun 11, 2024
The Committee on Market Access convened its first thematic session on greening the Harmonized System (HS) on June 11, 2024. The session built upon the World Customs Organization (WCO) report published in April 2023, which summarized outcomes from a series of symposia held between October 2022 and January 2023. These events aimed to identify potential changes to the HS to better support environmental policy needs in future editions, with participation from WCO members and various stakeholders.