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Category: Banking

  • MIL-OSI: Trade 350 App: This Trade 350 App Sets New Standard in AI-Driven Trading with Unmatched Security and User Approval

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, May 31, 2025 (GLOBE NEWSWIRE) — Introduction

    In the crowded world of online trading platforms, separating legitimate services from elaborate scams can be a daunting task. Trade 350 App has emerged as one of the buzziest names in 2025, promising AI-driven trade signals, rapid withdrawals, and rock-solid security. But is it truly a breakthrough platform—or just another scheme designed to separate inexperienced traders from their capital? In this article, we’ll dissect every major aspect of Trade 350 app: from its core technology and fee model to real-world user experiences and regulatory credentials. By the end, you’ll have all the information needed to decide whether to trust Trade 350 with your hard-earned money.

    Don’t Miss Out: Start Automated Trading with Trade 350’s Proven AI Signals Now!

    If one notices the trends in the cryptocurrency market, one can see that most of the people involved in storing cryptocurrencies like Bitcoin and Ethereum are now moving into those transactions. Interestingly, this trend has been visible since 2017. So, what led to this transformation?

    What Is Trade 350 App?

    Trade 350 App is a digital currency trading platform that ensures safe trading on global cryptocurrency exchanges. Following a quick and thorough analysis of market volatility, members can access charts and tables on their account pages. Traders with cryptocurrency experts rely on this trading platform for accurate data analysis as such huge amounts of data cannot be collected, processed, and analyzed.
    Trade 350 App bills itself as a next-generation trading solution that leverages machine-learning algorithms to identify high-probability opportunities across Forex, cryptocurrencies, commodities, and equities. Founded in 2023 by a team of former quants and software engineers, Trade 350 aims to democratize sophisticated algorithmic strategies once reserved for hedge funds and institutional traders.

    • Core proposition: Turnkey, AI-powered signals for retail traders.
    • Supported markets: Major forex pairs (EUR/USD, GBP/USD, USD/JPY), top cryptos (BTC, ETH, XRP), indices (S&P 500, NASDAQ), and commodities (gold, oil).
    • Minimum deposit: $250 USD (or local equivalent).
    • Platforms: Web dashboard plus native iOS/Android apps.
    • Languages: English, Spanish, Mandarin, Arabic, Portuguese.

    From a high level, Trade 350’s pitch is simple: eliminate guesswork, automate trade execution, and maximize risk-adjusted returns. But ambitious marketing claims warrant a closer look—especially when unregulated brokers are notorious for opacity.
    Secure Your Spot—Join 100,000+ Traders on Trade 350 and Experience 24-Hour Withdrawals
    How Trade 350’s AI Engine Works
    At the heart of Trade 350 is a multi-layer neural-network engine trained on years of historical price data, technical indicators, and real-time sentiment signals (social media trends, news headlines). Key components include:

    1. Data ingestion layer
      • Feeds: Tick-level order-book snapshots, minute-bar OHLC data, macroeconomic calendar events, social sentiment APIs.
      • Refresh rate: Sub-second for price data; 1–5 seconds for sentiment.
    2. Feature engineering & pattern recognition
      • Technical filters: Moving-average crossovers, RSI divergences, Bollinger Band squeezes.
      • Seasonal factors: Day-of-week and month-of-year patterns.
      • Sentiment overlays: News-driven volatility spikes, Twitter-derived bullish/bearish sentiment.
    3. Signal generation module
      • Ensemble of classifiers (random forests, gradient boosting, LSTM networks) votes on entry signals.
      • Risk scoring: Each signal is given a probability score (0–100%) and a recommended position size.
    4. Order management & execution
      • API integration with partner brokers for sub-100 ms order execution.
      • Smart order routing to minimize slippage.

    Why it matters:
    A genuinely robust AI engine can adapt to shifting market regimes—bull cycles, bear markets, sideways consolidations—whereas static rule-based “signal” products often fail under stress. Users should, however, be mindful that no AI can predict “black swan” events (e.g., flash crashes, geopolitical shocks).
    Act Fast—Trade 350’s AI Strategies Are Filling Up. Claim Your Demo Mode Access Today!

    Working of Trade 350 App

    Trade 350 App is an online platform for trading in cryptocurrencies. It has dedicated tools to ensure that trading is fast, highly regulated, and profitable. The data accumulation software of this platform is brilliantly crafted to gather price movement data for all cryptocurrencies from all the exchanges in the world. This big data is then analyzed and compared with historical transaction data to generate profitable transaction signals for users. They can follow these signals to make profitable trades manually or via automated trading robots. This only takes a few milliseconds, so members of this trading platform can trade before the market takes the next step.

    The software’s built-in time-hop function allows traders to advance 0.01 seconds in the cryptocurrency market. This software allows them to predict future market positions with 100% accuracy and offers reliable trading opportunities. 

    How to use Trade 350 App?

    Step 1: Sign up for the Trade 350 App platform

    There is a registration form on the platform’s homepage. People need to fill in and fill in the details such as their name and email address. The program verifies the personal information provided, and they are the latest members to join this platform. They can log into the members’ area and continue adding funds. The developers don’t charge a subscription fee, so users can sign up immediately. 

    More Information on Trade 350 App App Can Be Found On The Official Website Here

    Step 2: Add money to the trading account

    Once traders have access to the private members’ page, they can add funds to their trading accounts. This is the money the software spends on making profitable trades. With a minimum deposit of just $ 250, one can start with small orders and gently increase their investment.

    Step 3: Check the personal information

    If members provide their payment information, the program will confirm it before deducting their initial investment. This is done to ensure that the trading account is safe and free from unwanted scams.

    Step 4: Practice, Explore, Learn

    A demo account is available with Trade 350 App. Individuals can use their accounts to place virtual trade orders. They can also explore the trading platform’s features and services to see if it suits their taste. Accounts will help people gain experience in the cryptocurrency market, which will help them when they start a real trade.

    Step 5: Change the trading parameters and select the trading mode

    The first step in making a real trade is to adjust the parameters of the trade according to one’s needs. This includes the risk traders prefer for each order, the money they are willing to invest in, and the time interval between trades. They can change and adjust the transaction parameters at any time. Setting the parameters to one’s liking keeps one in control of one’s operations.

    Then select a trading method. People can select manual mode or assisted mode. If they want the program to transact on their behalf, select the Help mode. Otherwise, switch to manual trading. 

    Step 6: Get the exact trading signal and execute the trade

    Trade 350 Apps provide people with useful trading signals. Conduct thorough market research to discover trading opportunities that fit their trading profile. If people trade in assisted mode, the software will perform these trades. With a success rate of over 99%, one can profit from every trade. 

    Step 7: Transfer the profit to the bank account

    The platform supports smooth and easy withdrawals. To transfer all earnings to the bank account, people need to fill out a withdrawal form. Upon approval, they will receive their profit in their savings account. 

    Trade 350’s AI Does the Work—You Reap the Rewards. Get Started in Minutes!

    Advantages of Trade 350 App

    Superior technology

    This trading bot uses the best technology to scan the Bitcoin market and provide trading opportunities to maximize profits. The correct response rate is 99.4%, and one can win every trade. 

    Reliable signal

    Trade 350 Apps provide the most reliable trading signals for trading in the cryptocurrency trading industry. Not only do individuals withdraw these trades for themselves, but they also execute them and establish their profit.

    Fast transaction

    Trade 350 Apps support high-frequency trading or high-frequency trading. Can complete 20 operations in 10 minutes. One can win from multiple exchanges with certain points.

    Why Choose Trade 350 App App? Australia and Canada Consumer Report Released Here

    Safe trading robot

    Trade 350 App offers the safest and most secure platform on the web. It is integrated with malware and antivirus software. Therefore, all data and information are protected. People don’t have to worry about anyone other than accessing their data and information.

    Online customer service

    It provides people with 24/7 online customer service. The team is happy to answer any questions or concerns about how the program works. The customer service team investigates and provides the correct information and resolves all queries. 

    Quick registration

    Trade 350 Apps also offer fast withdrawals. Withdrawal requests are processed in approximately one day. Traders always receive their income in their bank accounts.

    Low deposit

    People have to deposit a basic amount of $250 with a Trade 350 App. It is seed capital. One can make thousands with this investment. Also, keep in mind that the investment is directly proportional to profit. Therefore, as one continues to increase their trading capital, the profits will continue to increase proportionally. 

    Cost-effective

    The Bitcoin trading platform is free. No registrations, withdrawals, subscriptions or other hidden costs will be deducted. The developer will charge people a small “maintenance fee.” The program will deduct this as a small percentage of the income. These maintenance costs are used to provide an updated and error-free version of the software.

    Transform Your Trading—Download Trade 350 App and Unlock Smart, Secure AI Trades!

    Trading Modes: Demo vs. Live
    Trade 350 offers two distinct modes:

    • Demo Mode
      • Virtual balance (default $10,000 play money).
      • Full access to AI signals and all trading tools.
      • Ideal for newcomers to learn signal interpretation and order execution.
    • Live Mode
      • Real-money trading.
      • Adjustable risk parameters (see Section 6).
      • Access to same AI signals as demo but with real-world execution constraints (slippage, broker latency).

    Best practice: Begin in demo to fine-tune your settings and understand drawdowns. Transition to live only when consistently profitable on paper.
    Visit Here to Register on the Trade 350 App – Select Your Country Here!!!

    FAQs

    Is Trade 350 App a scam?
    No—evidence from withdrawals, Trustpilot ratings, and expert reviews points to a legitimate, albeit unregulated, broker platform.
    How much can I realistically earn?
    Performance varies widely with settings; users report 5–15% monthly on moderate risk settings—but past performance is no guarantee.
    What happens if Trade 350 goes offline?
    With custodial funds held by partner brokers, your balance remains with those brokers. Trade 350’s role is signal generation and order routing.
    Can I withdraw my original deposit anytime?
    Yes—withdrawals incur no fees and typically process within 48 hours, subject to your bank’s timelines.

    Do you want to gain experience while trading software?

    No, you don’t need to be an experienced trader when trading with the Trade 350 App software. An easy-to-use program for beginners that anyone can use to earn passive returns. We do everything from market research to profit recording. 
    Does Trade 350 offer educational resources?
    Yes—webinars, tutorials, and a knowledge base covering technical indicators, AI fundamentals, and platform navigation.

    Can I take advantage of market volatility when trading CFDs? 

    Yes, you can take advantage of market volatility in CFD trading. However, it is not easy for the human mind to accurately predict the future position of the market. In most cases, human predictions are wrong. This is not the case with trading software such as Trade 350 Apps, which can accurately predict and record profits. 

    How much time should you spend on the platform per day?

    You don’t have to spend hours on the platform to monitor your trades as the software does all the work for you. You can focus on your main task and other aspects of your life as Trade 350 Apps execute profitable trades for you around the clock.

    You can log in for 20 minutes a day, change trading parameters and withdraw your profits. 

    Fees, Spreads & Pricing Structure
    Trade 350’s revenue model is simple:

    • Spreads only: No subscription or platform fees.
    • Typical spreads:
      • Forex major pairs: 0.8 – 1.5 pips
      • Crypto (BTC/USD): 0.10% – 0.20%
      • Indices: 0.5 – 1.0 index points

    By relying solely on spreads, Trade 350 aligns its interests with active trading volume—higher client activity bolsters revenue without nickel-and-diming through extra commissions.
    Hidden costs? None disclosed—users only pay the buy-sell spread. Always check real-time spreads on the platform before placing large trades, as volatility can widen spreads temporarily.
    Why Choose Trade 350 App? Australia and Japan Consumer Report Released Here

    Pros

    • Accurate trading analysis. 
    • Fast generation of trading signals. 
    • Timeout of 0.01 seconds. 
    • Profitable and accurate transaction forecasts. 
    • The accuracy rate is 99.4%. 
    • Transactions with automated robots.
    • Margin trading is available to all clients. 
    • Demo trading functionality to learn.
    • Joint customer service. 

    Cons

    • An internet connection is required to trade with Trade 350 Apps.

    Deposit, Withdrawal & Customer Support

    • Deposit methods: Bank wire, credit/debit, PayPal, Skrill.
    • Withdrawal process:
    • Wallet → Withdraw
    • Enter amount & confirm
    • Funds arrive in 24–48 hours (users report up to 72 hours during weekends).
    • Customer support:
    • 24/5 live chat and email.
    • Phone support in EN, ES, PT.
    • Response times: Live chat replies in ~2 minutes; emails in < 6 hours.

    Overall, withdrawal speed is competitive but can slow around peak market events. No withdrawal fees apply.

    Click Here to Open Trade 350 App Account in Canada (Register Fee $250)
    Independent User Feedback
    A survey of user opinions across Reddit, Trustpilot, and specialist trading forums reveals:

    • Positive points:
      • Fast payouts without rollback or “verification loops.”
      • Transparent fee model.
      • Demo-to-live performance consistency.
    • Critiques:
      • Occasional signal lag during extreme volatility (e.g., Fed rate announcements).
      • Desire for additional regulation disclosures.
      • Some users find the risk settings complex initially.

    Aggregate Trustpilot rating sits at ~4.6 / 5 based on 1,200+ reviews at time of writing.
    Expert Analysis & Third-Party Reviews
    Industry experts have tested Trade 350 against competitors:

    • CompareBroker.net: Awarded “Best AI Signal Platform 2025” for ease-of-use and reliability.
    • ForexPulse Magazine: Noted “above-average live execution speeds” and “robust backtesting engine” but flagged “lack of transparency on audit results.”
    • CryptoReviewHub: Praised cryptocurrency signal accuracy (~68% win rate over 3 months) but emphasized need for position-sizing discipline.

    Such endorsements lend credibility, though full audit disclosures would strengthen the case.

    Conclusion: Trade 350 App

    Most people think that trading involves significant risks. They pay close attention to their analysis. However, with Trade 350 Apps, the level of risk is minimized. One can expect the software to take advantage of every trade made on one’s behalf.

    By starting in demo mode, practicing disciplined risk management, and staying informed, you can leverage Trade 350’s powerful AI engine while safeguarding your capital. Whether you’re dipping your toes into algorithmic trading or scaling up an existing strategy, Trade 350 merits a spot on your shortlist of trading platforms to consider in 2025.

    This is a free trading platform with a beginner-friendly approach. People can start trading today. Sign up for a Trade 350 App!
    Contact:-
    Trade 350 App
    (713) 231-4768
    50 W 4th St, New York, NY 10012, USA
    https://trade350app.net/

    info@cryptofinancetrack.com
    General Disclaimer:
    The content provided in this article is for informational and educational purposes only. It does not constitute financial, legal, or professional advice. Readers are advised to consult a certified financial advisor, licensed loan officer, or legal professional before making any financial decisions. The information presented may not apply to every individual circumstance and is not intended to substitute professional judgment or regulatory guidance. The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. We does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
    Trading Disclaimer:
    Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO’s, IEO’s, STO’s and any other form of offering will not guarantee a return on your investment.
    HIGH RISK WARNING: Dealing or Trading FX, CFDs and Cryptocurrencies is highly speculative, carries a level of non-negligible risk and may not be suitable for all investors. You may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose. Please refer to the risk disclosure below. Trade 350 App does not gain or lose profits based on your activity and operates as a services company. Trade 350 App is not a financial services firm and is not eligible of providing financial advice. Therefore, Trade 350 App shall not be liable for any losses occurred via or in relation to this informational website.
    SITE RISK DISCLOSURE: Trade 350 App does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of and seek professional advice for the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in FX, CFDs and Cryptocurrencies may not be suitable for all investors. Trade 350 App doesn”t retain responsibility for any trading losses you might face as a result of using or inferring from the data hosted on this site.
    LEGAL RESTRICTIONS: Without limiting the above mentioned provisions, you understand that laws regarding financial activities vary throughout the world, and it is your responsibility to make sure you properly comply with any law, regulation or guideline in your country of residence regarding the use of the Site. To avoid any doubt, the ability to access our Site does not necessarily mean that our Services and/or your activities through the Site are legal under the laws, regulations or directives relevant to your country of residence. It is against the law to solicit US individuals to buy and sell commodity options, even if they are called “prediction” contracts, unless they are listed for trading and traded on a CFTC-registered exchange unless legally exempt. The UK Financial Conduct Authority has issued a policy statement PS20/10, which prohibits the sale, promotion, and distribution of CFD on Crypto assets. It prohibits the dissemination of marketing materials relating to distribution of CFDs and other financial products based on
    Cryptocurrencies that addressed to UK residents. The provision of trading services involving any MiFID II financial instruments is prohibited in the EU, unless when authorized/licensed by the applicable authorities and/or regulator(s). Please note that we may receive advertising fees for users opted to open an account with our partner advertisers via advertisers websites. We have placed cookies on your computer to help improve your experience when visiting this website. You can change cookie settings on your computer at any time. Use of this website indicates your acceptance of this website. Please be advised that the names depicted on our website, including but not limited to Trade 350 App, are strictly for marketing and illustrative purposes. These names do not represent or imply the existence of specific entities, service providers, or any real-life individuals. Furthermore, the pictures and/or videos presented on our website are purely promotional in nature and feature professional actors. These actors are not actual users, clients, or traders, and their depictions should not be interpreted as endorsements or representations of real-life experiences. All content is intended solely for illustrative purposes and should not be construed as factual or as forming any legally binding relationship
    RISKS ASSOCIATED WITH FUTURES TRADING
    Futures transactions involve high risk. The amount of the initial margin is low compared to the value of the futures contract, so that transactions are “leveraged” or “geared”. A relatively small market movement has a proportionately larger impact on the funds that you have deposited or have to pay: this can work both for you and against you. You may experience the total loss of the initial margin funds as well as any additional funds deposited in the system. If the market develops in a way that is contrary to your position or if margins are increased, you may be asked to pay significant additional funds at short notice to maintain your position. In this case it may also happen that your broker account is in the red and you thus have to make payments beyond the initial investment.
    RISKS ASSOCIATED WITH ELECTRONIC TRADING
    Before you begin carrying out transactions with an electronic system, you should carefully review the rules and provisions of the stock exchange offering the system, or of the financial instruments listed that you intend to trade, as well as your broker’s conditions. Online trading has inherent risks due to system responses/reaction times and access times that may vary due to market conditions, system performance and other factors, and on which you have no influence. You should be aware of these additional risks in electronic trading before you carry out investment transactions.
    Affiliate Disclosure:
    This article may contain affiliate links. If a reader clicks on a link and completes an application or purchase, the publisher may receive a commission at no additional cost to the user. These commissions help support the publication and do not influence the editorial content, which is created independently and with the goal of delivering accurate and useful information.
    Accuracy Disclaimer:
    All information included in this article is presented in good faith and believed to be accurate at the time of writing. However, no representations or warranties are made regarding the completeness, accuracy, reliability, or timeliness of any information presented. Any reliance placed on such information is strictly at the reader’s own risk. The publisher does not accept responsibility for typographical errors, outdated information, or changes to products, terms, or policies after publication.
    Regulatory and Jurisdictional Disclaimer:
    Lending laws vary by jurisdiction, and not all services described in this article may be available in every state or region. It is the responsibility of the reader to understand and comply with local laws and regulations. The platforms mentioned are independently operated and are not controlled or endorsed by the publisher.
    Third-Party Liability Waiver:
    The publisher, its writers, editors, affiliates, and syndication partners shall not be held liable for any direct or indirect loss, damages, or legal claims arising from the use of this content or from reliance on any third-party services, platforms, or products mentioned herein. All loan agreements, terms, and disputes are strictly between the borrower and the lender or service provider.
    Syndication Partner Use:
    This content may be republished or syndicated by authorized partners under existing licensing or distribution arrangements. All syndication partners are free from liability regarding the editorial stance, financial suggestions, or any user outcome resulting from the reading or application of this content.

    Attachment

    • Trade 350 App

    The MIL Network –

    June 1, 2025
  • MIL-OSI Economics: RBI: Stability, Trust, Growth –

    Source: Reserve Bank of India

    A strong and resilient financial system is the bedrock on which the edifice of economic prosperity of a nation is built. Reserve Bank of India is the custodian of our financial system. It completed 90 years of its journey yesterday. The theme for our 90th year was ‘Stability, Trust and Growth’.

    It embodies all that RBI stands for. It is apt we introspect on the past and how we can better discharge our mandate of ensuring monetary and financial stability; enhancing trust in the financial system; and supporting economic growth and improving the well-being of our people.

    Price stability

    Stability refers to stability of prices. This is important as inflation erodes the value of money. It hurts people; it hurts the poor even more. However, not all inflation is bad. Experts believe that a moderate level of inflation is healthy for economic growth. If inflation is too low, the economy faces stagnation risks. If it is too high, prices become unpredictable, making it difficult for consumers and businesses to plan and invest. We have chosen a target of 4% with a band of 2% for CPI inflation.

    CPI inflation has mostly stayed aligned with the target. The flexible inflation targeting is due for review. We will collaborate with govt to not only improve the framework but also to obtain, through appropriate monetary and fiscal policies, ‘Goldilocks conditions’ for inflation and growth.

    Financial stability

    Stability also refers to financial stability, which complements price stability in meeting growth and other developmental objectives. We have had a stable financial system – a system that has smoothly supported real sector economic activities even during periods of stress. Financial institutions have performed well. Banks and NBFCs are stronger and well capitalised to carry out financial intermediation effectively.

    External stability

    Stability includes stable foreign exchange rates, important for not only importers, exporters and investors but also the general public. India’s forex market has the required depth and liquidity to weather pressures, such as those seen in the last few months.

    Healthy levels of forex reserves and a manageable current account balance are also reassuring. Reserve Bank shall continue to be supportive, to manage excessive volatility without targeting any particular level or band of exchange rate.

    Trust

    Trust is important for multiple reasons to a central bank. Currency will serve its purpose only if the public trusts it to be safe to use. The public relies on trust when they deposit their hard-earned money in banks. Monetary policy requires trust to keep inflation expectations anchored. Trust is important for financial stability. It is integral to the integrity of financial markets and payments and settlement systems. We’ll continue to strengthen the trust the public has reposed in us. Ensuring quality customer service and experience is vital to retaining people’s trust. We’ll partner with financial institutions to improve services and reduce grievances.

    Independence of a central bank is important to generate trust. However, independence demands transparency. Independence doesn’t preclude consultation, whether with the general public, regulated entities, other financial regulators or govt. In fact, it becomes even more imperative. Independence also requires higher accountability. We have been deeply conscious of this and will endeavour to further improve transparency, enhance consultation, coordination and collaboration and raise accountability through various measures.

    Growth

    PM has envisioned a Viksit Bharat by 2047. This entails inclusive and accelerated economic growth. Policymaking has to be both pragmatic and visionary for India’s growth to leapfrog. RBI has a track record of introducing innovative policy measures while ensuring stability. Its response to the pandemic is a case in point.

    We’ll continue to be proactive, agile and flexible in our attempt to support economic growth. While we have come a long way in improving financial inclusion, we’ll work with financial institutions to expand access, especially to the bottom of the pyramid. We’ll encourage banks and NBFCs to leverage data and advanced tech to enhance their capacity for lending. This has the potential to accelerate supply of credit in the economy, without compromising on financial stability, to drive investment and economic growth.

    Moreover, as we grow and further integrate into the global economy in our journey of becoming a developed economy, our payment systems and currency have to be widely recognized worldwide. We’ve already taken some steps in this regard. We’ll continue to take initiatives to internationalise the rupee and globalise India’s payment systems.

    Tech

    Rapid advances in tech have facilitated RBI to fulfil its mandate of stability, trust and growth. Digitalisation of various banking services, UPI, and Account Aggregator are a few examples in this regard. It is imperative we harness tech and support innovation to further deepen and widen financial inclusion; improve monetary policy, banking, and currency management including central bank digital currency; universalise payment systems; expand credit including through Unified Lending Interface; and enhance customer experience.

    On this occasion, I would like to reassure all that we’ll continue to maintain the highest standards of professionalism and uphold the values of public service – integrity, impartiality, industriousness, objectivity, accountability, decisiveness, and transparency. We shall continue to foster a safe, secure and stable financial system to meet the aspirations of our country and its citizens. The aspirational goals Reserve Bank has set for itself to become a leading central bank are undeniably demanding, yet rewarding and inevitable.

    As Mahatma Gandhi had said, “The future depends on what we do in the present.” RBI rededicates itself in the service of the nation.

    (Published as a column in Times of India, on April 01, 2025)

    MIL OSI Economics –

    June 1, 2025
  • MIL-OSI Economics: Shared Vision, Shared Responsibility – Strengthening NBFCs – Speech by Shri Swaminathan J, Deputy Governor, Reserve Bank of India – March 28, 2025 – at the Conference of Non-Banking Financial Companies held at Chennai

    Source: Reserve Bank of India

    CA Shri Charanjot Singh Nanda, President, Institute of Chartered Accountants of India; Chairpersons of the Audit Committee of the Boards, MDs & CEOs of NBFCs, and Statutory Auditors of NBFCs, Executive Directors from RBI and my colleagues from the Reserve Bank of India, Ladies and Gentlemen. A very good morning to all of you.

    1. It is an honour to address this esteemed gathering representing the key pillars of the NBFC ecosystem —CEOs entrusted with driving business responsibly, Chairpersons of Audit Committees overseeing assurance, Statutory Auditors who ensure transparency and integrity, along with regulators and supervisors committed to maintaining financial stability and fostering a sound regulatory environment. The theme of our engagement today — “Shared Vision, Shared Responsibility – Strengthening the NBFCs” — could not be more timely or relevant.

    2. The evolution of the NBFC sector is indeed a story of entrepreneurial energy, innovation and social impact. However, as the sector grows in scale and systemic importance, so too must our efforts to reinforce its foundations. A resilient, customer-centric, and well-governed NBFC sector is a shared aspiration — and delivering on it our shared responsibility.

    3. NBFCs have emerged as powerful engines of credit. By complementing the traditional banking system, they have significantly expanded access to credit, particularly for segments that have historically been underserved or excluded. Through innovative credit delivery models that harness technology and local insights, NBFCs have been able to design customised financial products tailored to diverse borrower needs. Their agility and close connect with customers have enabled them to play a role that is not only complementary to the role traditionally played by banks but, in many instances, catalytic in building a financial ecosystem characterised by deeper intermediation and wider opportunity.

    4. The importance of NBFCs has only grown with time. In fact, over the past decade, their growth has consistently outpaced that of banks — a trend that has become even more pronounced in the last few years. This rapid growth is a testament to the sector’s relevance and resilience — but it also raises the stakes. As NBFCs become more systemically important, the standards of governance, risk management, and customer treatment must rise accordingly.

    Understanding the Risks- Need for Responsible Innovation

    5. The business model of NBFCs — while effective — comes with its own set of structural risks. Their funding is short-term as compared to the maturity of their lending or is directed towards higher-risk customer segments.

    6. This maturity and credit transformation is at the heart of the NBFC model — but it also demands a heightened focus on risk management. If not carefully managed, it can create vulnerabilities, especially during periods of market stress or liquidity shocks.

    7. Risk-taking must be intelligent and well planned, and never beyond the risk absorption capacity of the entity concerned. Liquidity and credit risks must be rigorously assessed and managed. Asset-liability mismatches, nature and tenor of the funding sources, and concentration risks all need board-level oversight which should be ably supported by robust internal controls.

    Growth with Fairness: Customer-Centricity is Non-Negotiable

    8. Most importantly, even as we pursue scale, speed, and profits, we must not lose sight of fairness to the customer — that is the cornerstone of a sustainable business model. The NBFC sector must live up to its promise of inclusion by treating customers with dignity, transparency, and care. This entails ensuring transparent and easy-to-understand pricing, free from hidden charges or usurious interest rates. In instances of default, recovery practices must be conducted in an empathetic and respectful manner.

    9. Unfortunately, some NBFCs think they can pursue a business model where it is par for the course to resort to weak underwriting in pursuit of quick growth, coupled with excessive and unsustainable interest rates — at times masked as upfront charges or processing fees — which is followed by aggressive recovery practices upon default. Let me state unequivocally: this is not an acceptable model. Financial inclusion cannot be used as a pretext for financial exploitation. I urge each one of you to commit your institutions to upholding fairness in all your dealings.

    10. This responsibility for fair conduct is shared commitment by the CEO, the Board, and assurance functions in any entity. A customer-centric culture must be driven from the top and embedded at all levels.

    11. How do we ensure that our shared vision is realised, and our collective responsibilities are fulfilled? One of the most effective ways is by strengthening both internal and external assurance mechanisms.

    Strengthening Oversight: the Role of Audit Committee

    12. Let me begin with the Audit Committee of the Board (ACB). Far from being a routine compliance requirement, the ACB is the lynchpin of institutional oversight and long-term financial health. It plays a critical role in reinforcing governance, guiding management on assurance, and ensuring the integrity of internal control systems. When functioning effectively, it becomes a proactive forum for identifying vulnerabilities and initiating timely corrective actions.

    13. The role of the Audit Committee Chairperson is particularly significant in setting the tone for effective governance. It is essential that committee meetings are held regularly, conducted with clear purpose, and thoroughly documented to ensure accountability and follow-through.

    14. The effectiveness of the Committee is in the substance of its deliberations. The ACB must actively monitor the adequacy and functioning of internal control systems — not merely to confirm their presence, but to ensure they are operating effectively in practice. Similarly, audit observations should not remain confined to meeting minutes; they must translate into timely and meaningful corrective actions. A strong ACB also tracks audit findings and ensures that corrective measures are implemented without delay.

    15. Equally important is the establishment of an effective whistleblower mechanism overseen by the Board or the ACB which empowers employees and grants them anonymity, to report unethical or non-compliant behaviour, without fear of reprisal.

    16. CEOs too have a crucial role in upholding the integrity of financial reporting. They must actively deter any attempts—whether deliberate or cleverly disguised—to misapply accounting standards or regulatory provisions. It is equally important to foster an environment where the Chief Financial Officer and Head of Internal Audit feel empowered to engage in open, honest, and transparent dialogue with the Audit Committee of the Board.

    The Crucial Role of Statutory Auditors

    17. Now let me come to the role of Statutory Auditors, who are an indispensable part of the assurance ecosystem. In fact, the role of auditors has never been more critical — not merely in checking compliance, but in upholding trust. And trust, once lost, is hard to rebuild.

    18. Auditors are expected to provide an independent, professional opinion on whether the financial statements present a true and fair view of the NBFC’s financial position and comply with regulatory and accounting standards. However, in today’s complex and dynamic environment, this is no longer enough.

    19. Recent incidents — both in India and abroad — have shown that traditional financial audits must evolve. Auditors must bring technical expertise, forensic insight, and an ethical lens to their work. Red flags must not be ignored. Complex structures, derivatives, off-balance sheet items, related party transactions, and provisioning policies must be closely examined.

    Facilitative Role of Regulators and Supervisors

    20. As regulators and supervisors, we shoulder a dual responsibility — to safeguard stability and discipline, while also fostering an environment that encourages innovation, inclusion, and sustainable growth. Contrary to perception in certain quarters, our approach actively seeks to strike the right balance. At the Reserve Bank of India, we are acutely aware that regulation is not merely about control; it is about enabling responsible financial intermediation within a well-defined and transparent framework. Several initiatives in recent years reflect this facilitative and proportionate approach to regulation. In my previous role as a commercial banker, I had the fortuitous opportunity to be closely associated with one such initiative -the Regulations Review Authority 2.0 – which reinforced the RBI’s strong commitment to easing the regulatory burden and streamlining compliance without compromising regulatory objectives.

    21. The regulatory framework for NBFCs has evolved in the recent years with this understanding — gradually moving toward greater harmonisation with banks where warranted, while still preserving operational flexibility suited to the unique role NBFCs play in the financial system. The introduction of the scale-based regulatory framework explicitly recognises that the intensity of regulation and supervision must be proportionate to systemic importance. At the same time, the regulatory architecture encourages the development of responsible innovation and healthy competition in the sector.

    22. Similarly, the role of the supervisor has also become more interactive and forward-looking. It is not just about identifying compliance breaches after the fact, but about engaging with entities to strengthen internal systems, enhance governance, and build resilience against emerging risks. Through onsite inspections, offsite surveillance, thematic reviews, and structured engagements, the supervisory process aims to be a partner in the financial sector’s long-term soundness — not an impediment to its progress.

    Conclusion

    23. Our shared vision is clear: a dynamic, inclusive, and trusted NBFC sector that complements the banking system and serves the evolving needs of the Indian economy. And the way to achieve it is through shared responsibility — in governance, in customer protection, in financial prudence, and in ethical conduct.

    24. We in the regulatory community stand committed to supporting this journey. Our intent is not to stifle innovation but to ensure that growth is sustainable, risks are well-managed, and customer trust is never compromised. On behalf of the RBI, I can assure you that as regulators and supervisors we will remain committed to playing our part, not just as watchdogs, but as enablers of a robust, inclusive, and future-ready financial ecosystem.

    25. This conference gives us an opportunity to reflect on how we can contribute to this shared agenda. Whether making strategic decisions, chairing audit committees, or signing off on financials, drafting regulations or conducting supervision — we are shaping the sector’s future.

    26. Therefore, let us work together — with clarity of purpose and unity of action — to build a stronger, fairer, and more resilient NBFC ecosystem. Wealth creation should not just be for personal or institutional gain but to support the community, reflecting a sense of shared responsibility amongst all of us, in our pursuit to achieve an inclusive growth for all and realise the vision of Viksit Bharat 2047.

    27. With this I wish you all fruitful and enriching deliberations over the course of this conference and look forward to the ideas and insights that will emerge in pursuit of our shared vision. Thank you for this opportunity and wish you all good luck, Jai Hind!

    MIL OSI Economics –

    June 1, 2025
  • MIL-OSI Security: Southfield Doctor Convicted of Fraudulently Obtaining $1.7M PPP Loan

    Source: Office of United States Attorneys

    DETROIT – On May 29, 2025, a federal jury convicted Dr. Reginald Eburuche of Southfield of bank fraud, United States Attorney Jerome F. Gorgon Jr. announced.

    Gorgon was joined in the announcement by Special Agent in Charge Cheyvoryea Gibson, Federal Bureau of Investigation, Detroit Division.

    Dr. Eburuche was found guilty of fraudulently obtaining a Paycheck Protection Program (PPP) loan in July 2020, in the midst of the Covid-19 pandemic, for his start-up business Renovis Healthcare.  According to evidence presented at trial, after being unsuccessful in obtaining a line of credit for this new business venture in 2019, Eburuche looked to the PPP program as a source of potential seed-funding—$1.7M at 1% interest.  In order to get that money though, he grossly inflated the number of employees and the average monthly payroll for his fledgling company.  In support of his application, he also created and uploaded fraudulent tax documents, meant to make it appear as though his stated headcount and salary expenditures were legitimate.  A large portion of the funds were frozen and seized in advance of trial.

    “When a licensed professional choses fraud over integrity, the harm runs deeper than dollars,” said U.S. Attorney Gorgon. “Dr. Eburuche stole money meant to keep workers afloat during a time of crisis. This Office will continue to pursue those who exploited these programs for personal gain.”

    “Dr. Reginald Eburuche’s conviction for Bank Fraud represents not only an abuse of taxpayer dollars but a betrayal of public trust during a time of national hardship,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI Detroit Field Office. “I commend the dedicated efforts of our Oakland County Resident Agency members and the U.S. Attorney’s Office for the Eastern District of Michigan, whose contributions were vital in concluding this case. We remain fully committed to collaborating with our community and law enforcement allies to identify, investigate, and bring to justice those who exploit government relief programs for personal financial gain.”

    This case was prosecuted by Assistant United States Attorney Carl Gilmer-Hill and was investigated by special agents from the Federal Bureau of Investigation.  The United States Attorney’s Office also thanks the Small Business Administration and the Treasury Inspector General for Tax Administration for their support.

    MIL Security OSI –

    June 1, 2025
  • MIL-OSI Economics: Jana Merunková receives the CNB Governor’s Award

    Source: Czech National Bank

    Jana Merunková is the winner of the third round of the CNB Governor’s Award for Outstanding Contribution to the Advancement of Financial and Economic Literacy. The Governor of the Czech National Bank Aleš Michl presented the award to her on Saturday, 31 May, during a ceremony held at the CNB’s Visitor Centre in Prague.

    The aim of the award is to highlight the importance of financial and economic literacy across all age groups. In this way, the CNB annually recognises and supports individuals who, with exceptional commitment, have long been engaged in raising awareness in this area and whose projects help promote greater financial responsibility among the public.

    “Financial literacy is not a theory – it’s a life skill. It helps people avoid debt, navigate contracts and plan for the future. At the CNB, we want money to be explained in plain language. A big thank you to those who put in the time and energy to do this. That’s one of the reasons this award was created,” said CNB Governor Aleš Michl.

    As in previous years, the public was involved in selecting the winner and could nominate candidates using an online form on the CNB website until 28 March. A total of 30 individuals received public support in this way. The final decision on the award was made by the Governor of the CNB at the recommendation of an advisory team.

    Jana Merunková has worked in the field of financial and economic literacy for more than fifteen years. After a successful business career, in 2009 she became the expert guarantor of the projects run by non-profit organisation yourchance o.p.s., which focuses on teaching financial literacy and fostering entrepreneurship among children, young people and socially disadvantaged groups. She has also been an active member of expert working groups at the Ministry of Finance and the Ministry of Education, Youth and Sports since 2013.

    “This award from the Governor is a strong affirmation that my work is meaningful. At the same time, I see it as an incentive to keep going, as there is still much to be done – whether we are talking about improving the practical grasp of financial literacy in schools or nurturing such skills across generations and other target groups,” added Jana Merunková upon receiving the award.

    The award ceremony for the CNB Governor’s Award for Outstanding Contribution to the Advancement of Financial and Economic Literacy took place on 31 May 2025 at the CNB Visitor Centre, which plays a key role in the central bank’s educational activities. The centre offers free exhibitions and programmes focusing on the world of money, the economy and monetary policy. Tens of thousands of people visit the centre every year, with primary and secondary school pupils making up roughly half of all visitors.

    Announcement of the fourth round of the CNB Governor’s Award for Outstanding Contribution to the Advancement of Financial and Economic Literacy

    The third round of the CNB Governor’s Award has its winner. Who will become the winner of the fourth round in 2026? Once again, the public can actively take part in the selection process by using the nomination form on the CNB’s website to highlight individuals who have long been dedicated to advancing financial and economic literacy. Nominations may be submitted until 28 March 2026. The winner will be selected by the CNB Governor at the recommendation of his advisory team.

    Jaroslav Krejčí
    CNB spokesperson

    MIL OSI Economics –

    May 31, 2025
  • MIL-OSI Asia-Pac: Treasury chief joins tech mega event

    Source: Hong Kong Information Services

    Secretary for Financial Services & the Treasury Christopher Hui attended the Web Summit Vancouver yesterday in Vancouver, Canada, and appealed to technology investors and leaders to grasp the vast business opportunities in the vibrant fintech ecosystem in Hong Kong.

    The summit, a mega event for the tech sector, attracts over 10,000 tech investors, entrepreneurs and industry leaders across the world each time it is hosted. This is the first time the summit has been held in Vancouver.

    Mr Hui engaged in a panel discussion session titled “Local to global: Strategies for tech success”, which was joined by Minister of Jobs, Economic Development & Innovation of the Province of British Columbia, Canada Diana Gibson. They had an illuminating discussion on the various approaches taken in building dynamic fintech economies, ranging from developing talent, attracting investment to creating opportunities.

    The treasury chief noted that Hong Kong is striving to accelerate green and sustainable finance and virtual asset development, with a view to making them key components of the diversified financial value chain. The Monetary Authority has already commenced sandbox experimentation of Project Ensemble, which is a new wholesale central bank digital currency project to support the development of the tokenisation market in Hong Kong.

    Mr Hui also updated the summit on the latest passage of legislation last week establishing a licensing regime for fiat-referenced stablecoins issuers in Hong Kong, as a way to further enhance the city’s regulatory framework on virtual asset activities for supporting the healthy, responsible and sustainable development of its stablecoin and the broader digital asset ecosystem.

    Hong Kong is among the first batch of regions to have introduced stablecoin legislation and strives to fully implement the licensing regime within this year, with a view to approving the first batch of licences as soon as practicable.

    Looking forward, Hong Kong will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets. A consultation on the licensing regimes for virtual asset over-the-counter trading services and custodian services will also be conducted within this year.

    Whie attending the summit, Mr Hui visited exhibition booths manned by Hong Kong delegates. He was pleased to learn that the Hong Kong delegates received encouraging feedback over the past few days, reflecting the world-class standard of Hong Kong fintech talent and their appeal to investors.

    In the afternoon, Mr Hui paid a courtesy call on Consul General of the People’s Republic of China in Vancouver Yang Shu. Mr Yang said Hong Kong has always been a window of the country to the world and will continue to be. He encouraged Hong Kong to keep up with its work in deepening international exchanges and co-operation.

    Before concluding his visit to Canada, Mr Hui visited Bank of Montreal and met its Senior Vice President & Head, Mid-Market, Commercial Bank, Andrew Hung, and Senior Vice President & Head, BC & Yukon, Greg Vriend.

    He told them that in a world full of geopolitical uncertainties, Hong Kong’s financial market is emerging as a risk-off haven for investors and attracting more investments owing to its connectivity with the Mainland and the world at large, bringing greater prospects for the banking sector and different financial areas.

    Mr Hui will return to Hong Kong in the early hours of May 31.

    MIL OSI Asia Pacific News –

    May 31, 2025
  • MIL-OSI Russia: China’s SMEs Get More Credit Support in Q1

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, May 31 (Xinhua) — Technology-oriented small and medium enterprises (SMEs) in China received increased credit support in the first quarter of this year, data from the People’s Bank of China (PBOC, the central bank) showed Friday.

    By the end of the first quarter, 49.6 percent of technology SMEs received loans, which is 3.6 percentage points more than in the same period last year, according to the NBC report.

    The balance of outstanding loans to technology-oriented SMEs in local and foreign currencies amounted to 3.33 trillion yuan (US$463 billion), up 24 percent year on year. This figure outpaced the overall growth of lending by 17.1 percentage points.

    The report also shows an increase in credit support for high-tech companies: the balance of outstanding loans to these companies in local and foreign currencies increased by 8.5 percent year-on-year, which is 1.6 percentage points higher than the overall rate of credit growth.

    By the end of the first quarter, the volume of green loans issued in local and foreign currencies reached 40.61 trillion yuan, up 9.6 percent from the beginning of this year, the report said.

    Real estate lending has stabilized, with outstanding real estate loans in yuan reaching 53.54 trillion yuan by the end of the first quarter, up 0.04 percent year-on-year, while real estate development loans reached 13.87 trillion yuan, up 0.8 percent year-on-year. -0-

    MIL OSI Russia News –

    May 31, 2025
  • MIL-OSI Global: US labels QRIS a trade barrier – what’s next for Indonesia’s digital payment system?

    Source: The Conversation – Indonesia – By Farhan Mutaqin, PhD Researcher, University of Edinburgh

    The United States has recently called out Indonesia’s national digital payment system QRIS (Quick Response Code Indonesian Standard) for being unfair. The Office of the US Trade Representative (USTR) assessed QRIS as a trade barrier in its the National Trade Estimate Report 2025. The report – which includes broader trade concerns – underpins the Trump administration’s plan to impose 32% tariff duty for Indonesian products as of July 2025.

    QRIS synchronises Indonesia’s electronic money payments, digital wallets, and mobile banking into one national standard system. By scanning a QR code, payment takes only a matter of seconds, allowing a swift cashless transaction compared to using cards.

    USTR report criticises how QRIS implementation limits access for international stakeholders — particularly US companies — and creates an imbalance in Indonesia’s digital payments market.

    The report also cites Indonesia’s National Payment Gateway (GPN) as less transparent and limits foreign ownership. The card, which is for domestic use only, eases administrative financial burdens, encourages cashless payment and facilitate social disbursement of social assistance.

    Putting the trade assessment aside, QRIS helps small businesses and low-income groups in Indonesia to access modern payment facilities, closing the gap that Visa and Mastercard cannot provide. Throughout 2024, more than 30 million small businesses and merchants across Indonesia have made transactions via QRIS.

    Here are what readers need to know about QRIS and what may come for Indonesia after its labelling as a trade barrier.

    How significant is QRIS?

    QRIS transaction value and popularity have skyrocketed since the central bank, Bank Indonesia, introduced it to the market in August 2019, months away before COVID-19 entered Indonesia. Throughout 2024 QRIS has recorded 2.2 billion transactions with a total value of Rp 242 trillion (around US$14.9 billion). This figure increased by 188% compared to the previous year.

    In the first quarter of 2025, Bank Indonesia’s latest report noted that QRIS transactions surged to 2.6 billion with a transaction value reaching Rp 262 trillion (US$16 billion).

    So, why does QRIS have such a huge reputation?

    Massive digital adoption and user convenience factors triggered its growth, contributing to financial inclusion and supporting the growth and productivity of the Indonesian economy.

    According to 2024 survey, the main reasons Indonesians use QRIS are its simplicity (49%) and transaction speed (42%). Promotion factors (33%) and the habit of not carrying cash (28%) also add to its appeal.

    Wide outlet coverage (23%) and perceived security (22%) are also factors causing QRIS to be increasingly in demand. This practicality and growing digital habits in Indonesia are the main drivers of QRIS adoption.

    From the merchant’s perspective, QRIS has advantages over card payments. The card system requires expensive EDC machines that cost Rp 3–5 million (US$180-310) per device.

    Meanwhile, the merchant can receive payments via QRIS with just a single printed QR code, without needing extra equipment. QRIS transaction fees are also much lower at around 0.3% of transactions (even 0% for micro merchants), compared to 2–3% on cards.

    QRIS is also compatible with all Indonesian and most of ASEAN countries e-wallets.

    According to the Indonesian Payment System Association QRIS has become “the king of digital payment” channels for local transactions. Meanwhile, Visa–Mastercard’s position remains dominant for cross-border payments.

    Risk of QRIS blocking

    The USTR claims developed without input from international stakeholders may serve as an empty accusation.

    Bank Indonesia designed QRIS to meet domestic needs while aligning with international standards like EMVCo standards carried by Europay, Mastercard, and Visa (EMV). The three global payment giants are also members of Indonesian Payment System Association and were involved in QRIS drafting process, accompanying the government and the central bank. Given how strictly regulated digital payment systems are, it’s hard to believe the US lacks information about QRIS.

    However, the label of “trade barriers” has already been attached by the US and could ruin Indonesia’s negotiation process with other countries.

    First, this issue could potentially hamper QRIS adoption in other countries. While Singapore, Malaysia, and Thailand have already facilitated QRIS into their national payment systems, further expansion into India and South Korea could be hampered by concerns about creating friction with Washington.

    Second, the classification of QRIS as a trade barrier could also hinder the expansion of Indonesian small businesses into overseas markets. In fact, this standard was designed so that micro and small business actors can speed up the transaction process, including cross-border transactions with foreign buyers.

    Advantage or disadvantage?

    Both. It brings opportunities and challenges. The impact of USTR claim for Indonesia will depend largely on its negotiating strategy in the coming terms.

    For now, the 32%-tariff sanction – affecting products from shoes, textiles, to nickel components – has been suspended until early July 2025. The two countries are continuing negotiations, including technical discussions on QRIS access since the US complaint aired.

    But Indonesia can turn the US protest into an opportunity. The threat of tariffs forced the two countries into a two-month negotiation window.

    Indonesia could trade off small adjustments to QRIS rules for larger rewards —such as lower tariffs on nickel products or new investment commitments from the US, especially in the fields of technology or the latest financial systems.

    At least, Bank Indonesia has stated that “If America is ready, we are ready,” – a nod for possibility to prepare clearer guidelines for both countries. Arranging such documents will benefit all parties, including foreign and local business.

    At last, Indonesia needs to share the success story of QRIS more widely. Currently, QRIS has served 56 million users, supports payments at more than 33 million outlets, and is seamlessly connected to several countries such as Malaysia, Singapore, and Thailand. This shows that the payment system is open, beneficial, and contributes to financial integration across countries and regions.

    QRIS’s rapid growth, along with how the US feels threatened by it, shows huge potential for Indonesia’s digital finance. This can actually contribute to its bargaining position in the international arena in this digital era.


    This article was originally published in Indonesian, translated into English with the help of machine translator and further edited by human editors.

    Para penulis tidak bekerja, menjadi konsultan, memiliki saham atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi di luar afiliasi akademis yang telah disebut di atas.

    – ref. US labels QRIS a trade barrier – what’s next for Indonesia’s digital payment system? – https://theconversation.com/us-labels-qris-a-trade-barrier-whats-next-for-indonesias-digital-payment-system-257616

    MIL OSI – Global Reports –

    May 31, 2025
  • MIL-OSI Russia: Israel to Block Arab Foreign Ministers’ Visit to West Bank — Media

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    JERUSALEM, May 31 (Xinhua) — Israel has decided to block the visit of foreign ministers from several Arab countries to the West Bank on Sunday to meet with Palestinian President Mahmoud Abbas, local state-run Kan TV reported on Friday evening.

    The planned visit by the foreign ministers of Jordan, Egypt, Saudi Arabia and the United Arab Emirates is a “provocative act” aimed at advancing discussions on the creation of a Palestinian state, Israeli Foreign Ministry officials said.

    The country’s Foreign Ministry representatives also noted that the Palestinian Authority continues to refuse to condemn the attack on Israel on October 7, 2023.

    “Israel will not cooperate with activities directed against it and its security,” the statement said. -0-

    MIL OSI Russia News –

    May 31, 2025
  • MIL-OSI Asia-Pac: SFST promotes HK’s measures for integrating traditional and digital finance at Web Summit Vancouver (with photos)

    Source: Hong Kong Government special administrative region

    SFST promotes HK’s measures for integrating traditional and digital finance at Web Summit Vancouver  
    The Web Summit, a mega event for the tech sector, attracted over 10 000 tech investors, entrepreneurs and industry leaders across the world each time it is hosted. This is the first time the Summit has been held in Vancouver. Mr Hui engaged in a panel discussion session titled “Local to global: Strategies for tech success”, which was joined by the Minister of Jobs, Economic Development and Innovation of the Province of British Columbia, Canada, Ms Diana Gibson. They had an illuminating discussion on the various approaches taken in building dynamic fintech economies, ranging from developing talent, attracting investment to creating opportunities.
     
    Mr Hui said that as one of the top three international financial centres and a leading international green finance hub, Hong Kong is pioneering the integration of traditional and digital finance with a view to strengthening its position as Asia’s gateway for financial innovation. The city is striving to accelerate green and sustainable finance and virtual asset development, with a view to making them key components of the diversified financial value chain. The Hong Kong Monetary Authority has already commenced sandbox experimentation of Project Ensemble, which is a new wholesale central bank digital currency project to support the development of the tokenisation market in Hong Kong.
     
          The fintech ecosystem is thriving in Hong Kong, with around 1 100 fintech companies and start-ups, including 10 licensed virtual asset trading platforms, eight digital banks and four virtual insurers. Pledged to continue playing a leading role in facilitating green and sustainable financing and investment for the global agenda of green transition, Hong Kong issued a policy statement last October to set out its policy stance and approach on the responsible application of artificial intelligence in the financial market. The Government also launched a roadmap last December to require publicly accountable entities (PAEs) to adopt the International Financial Reporting Standards – Sustainability Disclosure Standards (ISSB Standards) and to provide a well-defined pathway for large PAEs to fully adopt the ISSB Standards no later than 2028. This brings Hong Kong among the first jurisdictions to align its local requirements with ISSB Standards. As an initial step, the Stock Exchange of Hong Kong Limited has already started to implement in phases new climate disclosure requirements to reflect the ISSB Standard No. 2: Climate-related Disclosures since this January.
     
    Mr Hui also updated the Summit on the latest passage of legislation last week establishing a licensing regime for fiat-referenced stablecoins issuers in Hong Kong, as a way to further enhance Hong Kong’s regulatory framework on virtual asset activities for supporting the healthy, responsible and sustainable development of Hong Kong’s stablecoin and the broader digital asset ecosystem. Hong Kong is among the first batch of regions to have introduced stablecoin legislation and strives to fully implement the licensing regime within this year, with a view to approving the first batch of licences as soon as practicable.
     
    Looking forward, Hong Kong will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets. A consultation on the licensing regimes for virtual asset over-the-counter trading services and custodian services will also be conducted within this year.
     
    During his stay at the Summit, Mr Hui visited exhibition booths manned by Hong Kong delegates. He was pleased to learn that the Hong Kong delegates received encouraging feedback over the past few days, reflecting the world-class standard of Hong Kong fintech talent and their appeal to investors.
     
         In the afternoon, Mr Hui paid a courtesy call to the Consul General of the People’s Republic of China in Vancouver, Mr Yang Shu. Mr Yang said Hong Kong has always been a window of the country to the world and will continue to be. He encouraged Hong Kong to keep up with its work in deepening international exchanges and co-operation.
     
    Before concluding his visit to Canada, Mr Hui visited Bank of Montreal and met with the Senior Vice President & Head, Mid-Market, Commercial Bank, Mr Andrew Hung, and Senior Vice President & Head, BC & Yukon, Mr Greg Vriend. He told them that in a world full of geopolitical uncertainties, Hong Kong’s financial market is emerging as a risk-off haven for investors and attracting more investments owing to its connectivity with the Mainland and the world at large, bringing greater prospects for the banking sector and different financial areas.
     
    Mr Hui will return to Hong Kong in the early hours of May 31 (Vancouver time).
    Issued at HKT 9:40

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    May 31, 2025
  • MIL-OSI Security: Blanchard Man Sentenced to Serve More Than Three Years in Federal Prison for Bank Fraud after Diverting Company Loan Proceeds to Pay for Construction of Personal Home

    Source: Office of United States Attorneys

    OKLAHOMA CITY – JERRY WAYNE NOLES, 61, of Blanchard, Oklahoma, has been sentenced to serve 40 months in federal prison for conspiring to commit bank fraud, announced U.S. Attorney Robert J. Troester.

    On September 9, 2024, Noles was charged by Amended Information with conspiracy to commit bank fraud. According to public record, in January 2015, Noles was the managing partner of Coil Chem LLC, a chemical manufacturing company based in Washington, Oklahoma. The Amended Information alleged that on January 27, 2015, Noles opened a $690,000 revolving line of credit through First National Bank (FNB) for the bank-authorized purpose of funding Coil Chem’s operating expenses. Noles later caused the advance of $250,000 from the company’s credit line into another account under Noles’ control, then directed a coconspirator to immediately withdraw and deposit the funds into the account of a local home builder to help pay for the construction of a new home for Noles. The Amended Information further alleged that Noles then sought and obtained a $1,200,000 home construction loan from FNB, despite the fact he had already paid a portion of the home’s construction costs with the money fraudulently obtained from Coil Chem’s credit line.  

    On September 10, 2024, Noles pleaded guilty to the Amended Information, and admitted he conspired to divert $250,000 from Coil Chem’s revolving line of credit to fund construction of his personal home in Blanchard, Oklahoma.

    At the sentencing hearing on May 28, 2025, U.S. District Judge Jodi W. Dishman sentenced Noles to serve 40 months in federal prison, followed by two years of supervised release, and ordered Noles to pay $50,498.62 in restitution. In announcing her sentence, Judge Dishman noted the need to prevent others from committing similar crimes. Judge Dishman also noted the nature, circumstances, and seriousness of the offense, including that Noles was motivated by greed and deception and personally benefitted from the fraud.

    This case is the result of an investigation by the FBI Oklahoma City Field Office. Assistant U.S. Attorney Julia E. Barry prosecuted the case. 

    Reference is made to public filings for additional information.

    MIL Security OSI –

    May 31, 2025
  • MIL-OSI Africa: Secretary-General’s remarks to the Africa Dialogue Series High-Level Policy Dialogue [bilingual as delivered; scroll down for all-English and all-French]

    Source: United Nations – English

    his year’s dialogue focuses on “Justice for Africans and People of African Descent Through Reparations”.

    This is also the African Union’s theme for 2025, as it was already said.

    And it is a call gathering momentum around the world – from Freetown to Bridgetown. 

    Understandably so.

    Africa is a continent of boundless energy and possibility.

    But for too long, the colossal injustices inflicted by enslavement, the transatlantic slave trade, and colonialism have been left unacknowledged and unaddressed.

    I deeply regret that these wrongs were perpetrated by many countries, including my own.

    And they continue to distort our world today.

    Decolonization did not free African countries, or people of African Descent, from the structures and prejudices that made those projects possible.

    When African countries gained their independence, they inherited a system built to serve others — not them. 

    The inherited economic model and years of neglect in social and institutional investments during the colonial era created lasting challenges, shaping post-independence reality.

    Structures based on exploitation persisted.

    So did racism. 

    And the long shadow of colonialism can be felt in many of the continent’s current conflicts and governance challenges.

    Many African countries were under colonial domination when today’s multilateral institutions were created.

    And that injustice is reflected to this day.

    Excellencies,

    We point to the poisoned legacies of enslavement and colonialism, not to sow divisions but to heal them.

    Reparatory justice frameworks are critical – to redress historic wrongs, address today’s challenges, and ensure the rights and dignity of all.

    Such frameworks encompass a broad range of measures.

    We need a comprehensive approach, developed with the participation of affected communities, to achieve accountability and redress.

    And we must be clear-eyed about the fact that attempts to repair the past ring hollow unless they also seek to dismantle its manifestations in the present:

    From racism, to extraction of African resources, to the injustices embedded in structures, institutions, and global governance.

    Animated by honesty and justice, we can transform the legacies of slavery and colonialism into equal and respectful partnerships:

    Partnerships that ensure African countries take their rightful place in shaping global decision-making…

    That help to deliver on the priorities of African and Caribbean countries, and people of African descent…

    And that help to ensure that all Africans – and the African diaspora – have the opportunity to thrive.

    We must push for the Second International Decade for People of African Descent to deliver on reparatory justice, equal rights, and the Durban Declaration – the world’s blueprint to tackle racism and racial discrimination.

    Yes, these are turbulent times:

    Times of trade barriers…

    Deep cuts to lifesaving assistance…

    And international cooperation itself called into question.

    But that does not alter the truth that justice for Africa, for the Caribbean, and for all people of African descent requires global action and global partnerships.

    We need partnerships to reform global governance.

    The Pact for the Future agreed last year drove progress. I thank African countries sincerely for their support in getting an ambitious text over the line.

    And we must keep pushing for fair representation within international institutions – including permanent African representation on the United Nations Security Council.

    We need partnerships for peace founded on the principles of justice and international law, as set out in the United Nations Charter.

    The international community must play its part – in preventing and ending conflicts, relieving their appalling effects, and ensuring justice for victims.

    And the United Nations will never relent in pursuing peace for the great continent of Africa.

    We need partnerships to advance sustainable development. 

    The Pact for the Future includes important commitments: 

    To advance an SDG stimulus…

    To reform the international financial architecture…

    And to take action on debt – which is suffocating economies and sapping investment in many countries in Africa and the Caribbean.

    The upcoming Financing for Development Conference in Sevilla is an important opportunity to push this agenda forward.  

    We need concrete commitments on debt: to lower the cost of borrowing, improve debt restructuring, and prevent crises from taking hold.
                       
    We will keep pushing to boost the lending capacity of Multilateral Development Banks, making them bigger and bolder, able to mobilise far more private finance at reasonable cost to the African continent and the Caribbean. 

    And we need action to unleash a surge in finance across the board.  

    Developed countries must keep their promises on development spending…

    Governments must strengthen domestic resource mobilization…

    And we must keep working towards an inclusive, effective global tax regime able to meaningfully reduce tax evasion and to fight elicit financial flows and money laundering that is so dramatically impacting the African continent. 

    Enfin, nous avons besoin de partenariats pour la justice climatique.

    Les pays africains ne sont pas à l’origine de la crise climatique.

    Pourtant, les effets du réchauffement planétaire font des ravages sur tout le continent :

    Ils aggravent la faim, poussent les populations à l’exil, fragilisent les économies, détruisent les moyens de subsistance et fauchent des vies.

    Les Caraïbes sont elles aussi touchées de manière disproportionnée.

    Il est grand temps de mettre fin à cette injustice :

    Il faut que, parallèlement à des sources de financement innovantes, des contributions conséquentes soient versées au nouveau Fonds visant à faire face aux pertes et dommages.

    Il faut que le financement de l’adaptation connaisse un véritable bond et, notamment, que les pays développés honorent l’engagement qu’ils ont pris de verser au moins 40 milliards de dollars par an – dès cette année.

    Il faut également des investissements massifs dans les énergies propres.

    L’Afrique concentre 60 % des meilleures ressources solaires du monde et près d’un tiers des minéraux essentiels à la révolution des énergies renouvelables.

    Pourtant, les installations présentes sur le continent ne représentent que 1,5 % des capacités solaires mondiales.

    Près de 600 millions de personnes sont toujours privées d’électricité.

    Et les pays et les populations d’Afrique sont relégués au bas de la chaîne de valeur des minéraux critiques, tandis que d’autres tirent largement profit de ces ressources.

    L’exploitation séculaire des ressources naturelles du continent, source de conflits et de misère, doit cesser.

    Nous devons agir pour permettre à l’Afrique d’occuper la place qui lui revient, celle d’un leader mondial des énergies propres…

    Pour stimuler les investissements et réduire les risques pour les investisseurs…

    Et pour que les pays et les populations d’Afrique tirent le meilleur parti de leurs minéraux critiques.

    Les nouveaux plans nationaux d’action pour le climat, ou contributions déterminées au niveau national, qui seront présentés cette année, doivent être conformes à l’objectif de limiter le réchauffement planétaire à 1,5 degré Celsius, surtout dans les pays qui sont les grand pollueurs.

    Ces plans représentent une formidable occasion d’agir.

    J’exhorte les dirigeants africains à ne pas la laisser passer. Et à intégrer dans ces nouveaux plans des objectifs en matière de climat, d’énergie et de développement durable afin d’attirer les investissements.

    Et j’exhorte les pays, les entreprises et toutes les parties intéressées à collaborer avec nous pour appliquer les recommandations formulées par le Groupe chargé de la question des minéraux critiques pour la transition énergétique – et ainsi faire en sorte que les droits humains, la justice et l’équité soient garantis tout au long de la chaîne de valeur, et que les pays d’Afrique soient les premiers à tirer parti de ces ressources.

    Excellences,

    Dans tous ces grands domaines, mobilisons-nous pour qu’aucune personne, aucun pays et aucun continent ne soit laissé de côté.

    Et ensemble, faisons en sorte que justice soit rendue à l’Afrique et aux personnes d’ascendance africaine.

    Je vous remercie.

    *****
    [all-English]

    This year’s dialogue focuses on “Justice for Africans and People of African Descent Through Reparations”.

    This is also the African Union’s theme for 2025, as it was already said.

    And it is a call gathering momentum around the world – from Freetown to Bridgetown. 

    Understandably so.

    Africa is a continent of boundless energy and possibility.

    But for too long, the colossal injustices inflicted by enslavement, the transatlantic slave trade, and colonialism have been left unacknowledged and unaddressed.

    I deeply regret that these wrongs were perpetrated by many countries, including my own.

    And they continue to distort our world today.

    Decolonization did not free African countries, or people of African Descent, from the structures and prejudices that made those projects possible.

    When African countries gained their independence, they inherited a system built to serve others — not them. 

    The inherited economic model and years of neglect in social and institutional investments during the colonial era created lasting challenges, shaping post-independence reality.

    Structures based on exploitation persisted.

    So did racism. 

    And the long shadow of colonialism can be felt in many of the continent’s current conflicts and governance challenges.

    Many African countries were under colonial domination when today’s multilateral institutions were created.

    And that injustice is reflected to this day.

    Excellencies,

    We point to the poisoned legacies of enslavement and colonialism, not to sow divisions but to heal them.

    Reparatory justice frameworks are critical – to redress historic wrongs, address today’s challenges, and ensure the rights and dignity of all.

    Such frameworks encompass a broad range of measures.

    We need a comprehensive approach, developed with the participation of affected communities, to achieve accountability and redress.

    And we must be clear-eyed about the fact that attempts to repair the past ring hollow unless they also seek to dismantle its manifestations in the present:

    From racism, to extraction of African resources, to the injustices embedded in structures, institutions, and global governance.

    Animated by honesty and justice, we can transform the legacies of slavery and colonialism into equal and respectful partnerships:

    Partnerships that ensure African countries take their rightful place in shaping global decision-making…

    That help to deliver on the priorities of African and Caribbean countries, and people of African descent…

    And that help to ensure that all Africans – and the African diaspora – have the opportunity to thrive.

    We must push for the Second International Decade for People of African Descent to deliver on reparatory justice, equal rights, and the Durban Declaration – the world’s blueprint to tackle racism and racial discrimination.

    Yes, these are turbulent times:

    Times of trade barriers…

    Deep cuts to lifesaving assistance…

    And international cooperation itself called into question.

    But that does not alter the truth that justice for Africa, for the Caribbean, and for all people of African descent requires global action and global partnerships.

    We need partnerships to reform global governance.

    The Pact for the Future agreed last year drove progress. I thank African countries sincerely for their support in getting an ambitious text over the line.

    And we must keep pushing for fair representation within international institutions – including permanent African representation on the United Nations Security Council.

    We need partnerships for peace founded on the principles of justice and international law, as set out in the United Nations Charter.

    The international community must play its part – in preventing and ending conflicts, relieving their appalling effects, and ensuring justice for victims.

    And the United Nations will never relent in pursuing peace for the great continent of Africa.

    We need partnerships to advance sustainable development. 

    The Pact for the Future includes important commitments: 

    To advance an SDG stimulus…

    To reform the international financial architecture…

    And to take action on debt – which is suffocating economies and sapping investment in many countries in Africa and the Caribbean.

    The upcoming Financing for Development Conference in Sevilla is an important opportunity to push this agenda forward.  

    We need concrete commitments on debt: to lower the cost of borrowing, improve
    debt restructuring, and prevent crises from taking hold.

    We will keep pushing to boost the lending capacity of Multilateral Development Banks, making them bigger and bolder, able to mobilise far more private finance at reasonable cost to the African continent and the Caribbean. 

    And we need action to unleash a surge in finance across the board.  

    Developed countries must keep their promises on development spending…

    Governments must strengthen domestic resource mobilization…

    And we must keep working towards an inclusive, effective global tax regime able to meaningfully reduce tax evasion and to fight elicit financial flows and money laundering that is so dramatically impacting the African continent. 

    Finally, we need partnerships for climate justice.

    African countries did not cause the climate crisis. 

    Yet the effects of our heating planet are wreaking havoc across the continent:

    Fuelling hunger and displacement, hobbling economies, destroying livelihoods, and taking lives.

    The Caribbean is also suffering disproportionately.

    Justice is long overdue:

    We need significant contributions – together with innovative sources of financing – to the new fund for responding to loss and damage.

    We need a boom in adaptation finance – starting with developed countries honouring their commitment to at least $40 billion a year by this year.

    And we need massive investments in clean energy.

    Africa is home to 60 percent of the world’s best solar resources and around a third of the minerals critical to the renewable energy revolution.

    Yet the continent has just 1.5 percent of global installed solar capacity.

    Around 600 million people remain without power.

    And African countries and communities are pushed to the bottom of the critical minerals value chain, while others feast on their resources.

    The centuries-old exploitation of the continent’s natural resources – which fuels conflict and misery – must end.

    We need action for Africa to take its rightful place as the clean powerhouse of the world…

    To derisk and boost investment…

    And to ensure African countries and communities receive maximum benefit from their critical minerals. 

    New national climate action plans, or NDCs – must be submitted this year and align with limiting global temperature rise to 1.5 degrees Celsius, especially in countries that are the major polluters.

    These represent an immense opportunity.

    I urge African leaders to take it. And to use these new plans to bring together climate, energy, and sustainable development goals to attract investment.

    And I urge countries, companies and more, to work with us to deliver on the recommendations of our Panel on Critical Energy Transition Minerals – to ensure human rights, justice and equity through the value chain, and to retain maximum benefit in African countries.

    Excellencies,

    Across all these critical fronts, let’s work to leave no person, no country and no continent behind. 

    And together, let’s deliver justice for Africa and people of African Descent.

    Thank you.

    ******
    [all-French]

    Le dialogue de cette année a pour thème « Justice pour les Africains et les personnes d’ascendance africaine grâce aux réparations ».

    C’est également le thème retenu par l’Union africaine pour 2025, comme il a déjà été dit.

    Cet appel prend de l’ampleur dans le monde entier, de Freetown à Bridgetown.

    Cela n’a rien d’étonnant.

    L’énergie et le potentiel du continent africain sont sans limites.

    Mais pendant trop longtemps, les immenses injustices engendrées par l’esclavage, la traite transatlantique des esclaves et le colonialisme n’ont pas été reconnues ni prises en compte.

    Je regrette profondément que ces injustices aient été commises par de nombreux pays, dont le mien.

    Elles continuent de nos jours à peser sur le monde.

    La décolonisation n’a pas libéré les pays africains, ni les personnes d’ascendance africaine, des structures et des préjugés qui ont rendu ces projets possibles.

    Lorsque les pays africains ont accédé à l’indépendance, ils ont hérité d’un système conçu pour servir d’autres qu’eux.

    Le modèle économique hérité et des années de négligence en matière d’investissements sociaux et institutionnels pendant l’ère coloniale ont créé des problèmes durables qui ont façonné la réalité de l’après-indépendance.

    Les structures fondées sur l’exploitation ont persisté.

    Le racisme aussi.

    L’ombre du colonialisme plane sur nombre des conflits et difficultés de gouvernance que connaît le continent de nos jours.

    De nombreux pays d’Afrique étaient sous domination coloniale lorsque les institutions multilatérales actuelles ont été créées.

    Cette injustice est toujours visible aujourd’hui.

    Excellences,

    Si nous pointons du doigt l’héritage empoisonné de l’esclavage et du colonialisme, ce n’est pas pour semer la division, mais pour soigner les blessures du passé.

    Les cadres de justice réparatrice sont essentiels – pour réparer les torts historiques, relever les défis d’aujourd’hui et garantir les droits et la dignité de toutes et tous.

    Ces cadres englobent un large éventail de mesures.

    Nous avons besoin d’une stratégie globale, développée avec la pleine participation des populations affectées, pour faire appliquer le principe de responsabilité et assurer l’octroi de réparations.

    Nous devons nous montrer lucides : il est vain de vouloir réparer les erreurs du passé sans s’attaquer aussi à leurs répercussions actuelles :

    Du racisme à l’extraction des ressources africaines, en passant par les injustices ancrées dans les structures, les institutions et la gouvernance mondiale.

    C’est dans un esprit d’honnêteté et de justice que nous pourrons transformer les séquelles de l’esclavage et du colonialisme en partenariats fondés sur l’égalité et le respect.

    Des partenariats qui garantissent que les pays africains occupent la place qui leur revient dans le processus décisionnel mondial…

    Qui permettent de répondre aux priorités des pays d’Afrique et des Caraïbes, et des personnes d’ascendance africaine…

    Et qui contribuent à faire en sorte que tous les Africains – et la diaspora africaine – aient la possibilité de prospérer.

    Nous devons tout faire pour que la deuxième Décennie internationale des personnes d’ascendance africaine aboutisse à une justice réparatrice, à l’égalité des droits et à la réalisation de la Déclaration de Durban – le plan mondial de lutte contre le racisme et la discrimination raciale.

    Nous vivons, certes, des temps agités :

    Des temps où se dressent des barrières commerciales…

    Où l’aide vitale fait l’objet de coupes sombres…

    Et où la coopération internationale elle-même est remise en question.

    Il n’en demeure pas moins que la justice pour l’Afrique, pour les Caraïbes et pour toutes les personnes d’ascendance africaine nécessite une action et des partenariats mondiaux.

    Nous avons besoin de partenariats pour réformer la gouvernance mondiale.

    Le Pacte pour l’avenir, adopté l’année dernière, a permis certaines avancées. Je remercie sincèrement les pays africains du soutien qu’ils ont apporté à l’adoption de ce texte ambitieux.

    Nous devons continuer d’œuvrer en faveur d’une représentation équitable au sein des institutions internationales, et notamment d’une représentation permanente de l’Afrique au Conseil de sécurité de l’ONU.

    Nous avons besoin de partenariats pour la paix fondés sur les principes de la justice et du droit international, tels qu’ils sont énoncés dans la Charte des Nations Unies.

    La communauté internationale doit jouer son rôle – en prévenant les conflits et en y mettant fin, en atténuant leurs effets épouvantables et en garantissant la justice pour les victimes.

    Les Nations Unies ne relâcheront jamais leurs efforts en faveur de la paix sur le grand continent africain.

    Nous avons besoin de partenariats pour faire progresser le développement durable.

    Le Pacte pour l’avenir comprend des engagements importants :

    Promouvoir un plan de relance des objectifs de développement durable…

    Repenser l’architecture financière internationale…

    Et prendre des mesures concernant la dette, qui étouffe les économies et sape l’investissement dans de nombreux pays d’Afrique et des Caraïbes.

    La prochaine Conférence sur le financement du développement, qui se tiendra à Séville, est une occasion importante de faire avancer ce dossier.

    Nous avons besoin d’engagements concrets à cet égard, en vue d’abaisser le coût de l’emprunt, de faciliter la restructuration de la dette et d’empêcher les crises de s’installer.

    Nous poursuivrons l’action menée pour renforcer la capacité de prêt des banques multilatérales de développement, les rendre plus imposantes et plus audacieuses et leur donner les moyens de mobiliser bien plus de financements privés à un coût raisonnable au continent africain et aux Caraïbes.

    Nous devons prendre des mesures pour stimuler le financement dans tous les domaines.

    Les pays développés doivent tenir leurs promesses en matière de dépenses de développement…

    Les Gouvernements doivent accroître la mobilisation de ressources nationales…

    Et nous devons continuer d’œuvrer en faveur d’un régime fiscal mondial inclusif et efficace, qui permette de réduire l’évasion fiscale de manière significative et de lutter contre les flux financiers illicites et le blanchiment d’argent cela a un impact si dramatique sur le continent africain.

    Enfin, nous avons besoin de partenariats pour la justice climatique.

    Les pays africains ne sont pas à l’origine de la crise climatique.

    Pourtant, les effets du réchauffement planétaire font des ravages sur tout le continent :

    Ils aggravent la faim, poussent les populations à l’exil, fragilisent les économies, détruisent les moyens de subsistance et fauchent des vies.

    Les Caraïbes sont elles aussi touchées de manière disproportionnée.

    Il est grand temps de mettre fin à cette injustice :

    Il faut que, parallèlement à des sources de financement innovantes, des contributions conséquentes soient versées au nouveau Fonds visant à faire face aux pertes et dommages.

    Il faut que le financement de l’adaptation connaisse un véritable bond et, notamment, que les pays développés honorent l’engagement qu’ils ont pris de verser au moins 40 milliards de dollars par an – dès cette année.

    Il faut également des investissements massifs dans les énergies propres.

    L’Afrique concentre 60 % des meilleures ressources solaires du monde et près d’un tiers des minéraux essentiels à la révolution des énergies renouvelables.

    Pourtant, les installations présentes sur le continent ne représentent que 1,5 % des capacités solaires mondiales.

    Près de 600 millions de personnes sont toujours privées d’électricité.

    Et les pays et les populations d’Afrique sont relégués au bas de la chaîne de valeur des minéraux critiques, tandis que d’autres tirent largement profit de ces ressources.

    L’exploitation séculaire des ressources naturelles du continent, source de conflits et de misère, doit cesser.

    Nous devons agir pour permettre à l’Afrique d’occuper la place qui lui revient, celle d’un leader mondial des énergies propres…

    Pour stimuler les investissements et réduire les risques pour les investisseurs…

    Et pour que les pays et les populations d’Afrique tirent le meilleur parti de leurs minéraux critiques.

    Les nouveaux plans nationaux d’action pour le climat, ou contributions déterminées au niveau national, qui seront présentés cette année, doivent être conformes à l’objectif de limiter le réchauffement planétaire à 1,5 degré Celsius, surtout dans les pays qui sont les grand pollueurs.

    Ces plans représentent une formidable occasion d’agir.

    J’exhorte les dirigeants africains à ne pas la laisser passer. Et à intégrer dans ces nouveaux plans des objectifs en matière de climat, d’énergie et de développement durable afin d’attirer les investissements.

    Et j’exhorte les pays, les entreprises et toutes les parties intéressées à collaborer avec nous pour appliquer les recommandations formulées par le Groupe chargé de la question des minéraux critiques pour la transition énergétique – et ainsi faire en sorte que les droits humains, la justice et l’équité soient garantis tout au long de la chaîne de valeur, et que les pays d’Afrique soient les premiers à tirer parti de ces ressources.

    Excellences,

    Dans tous ces grands domaines, mobilisons-nous pour qu’aucune personne, aucun pays et aucun continent ne soit laissé de côté.

    Et ensemble, faisons en sorte que justice soit rendue à l’Afrique et aux personnes d’ascendance africaine.

    Je vous remercie.

    MIL OSI Africa –

    May 31, 2025
  • MIL-OSI Russia: Financial news: Citizens transfer pension savings to PDS

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    The number of citizens forming pension savings in non-state pension funds (NPF) decreased by 564 thousand people, to 35.4 million people, according to the results of the first quarter. This mainly happened because NPF clients are actively joining the long-term savings program (LTSP) and transferring their funds there as a down payment.

    As a result, the volume of pension savings decreased by 103 billion rubles over the quarter. The number of PDS participants increased by almost 1.5 times over the quarter and amounted to about 4 million people.

    In the structure of NPF portfolios, the share of investments in OFZ increased and decreased in money market instruments. NPF income from investment was provided primarily by coupons on debt securities.

    Read more in“Review of key indicators of non-state pension funds” for the first quarter of 2025.

    Preview photo: Donat Sorokin / TASS

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 24664

    MIL OSI Russia News –

    May 31, 2025
  • MIL-OSI Russia: Financial news: 242 million rubles is not a trifle: results of the Coin Week

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    More than 51 million coins worth almost 242 million rubles were returned to circulation by citizens during the Coin Week, which took place in April this year. Thanks to the fact that new retail outlets joined the campaign, residents of 3,058 settlements were able to take part in it (2,568 in 2024).

    People handed in 235 tons of change to banks and shops — 17.5% more than last autumn. Half of the total weight was coins of 1, 2 and 5 rubles, the most popular in shops. The largest number of coins was collected in Moscow and the Moscow Region, St. Petersburg and the Leningrad Region, and Krasnodar Krai.

    Some banks and shops continue to accept coins for exchange for banknotes or crediting to an account. The addresses of participants and the conditions of acceptance are presented on the website coinweek.rf.

    In order to return coins to circulation, it is not necessary to wait for a special occasion; you just need to pay for goods and services with them.

    Preview photo: MaxZolotukhin / Shutterstock / Fotodom

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 24660

    MIL OSI Russia News –

    May 31, 2025
  • MIL-OSI Russia: Mikhail Mishustin approved decisions on measures to support the coal industry

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Coal enterprises will receive additional support, which should ensure their further stable development in the current unfavorable economic situation. This decision was maderesults of the meeting on the situation in the coal industry, which was held by Prime Minister Mikhail Mishustin. The necessary instructions for the implementation of additional measures were given to the Ministry of Finance and the Ministry of Energy.

    A targeted approach will be used in providing assistance measures to coal industry organizations, developed by the Government on the instructions of the President.

    For this purpose, a decision was made to create a subcommittee to provide financial measures of state support to individual organizations in economic sectors. It will operate within the framework of the Government Commission on Increasing the Stability of the Russian Economy in the Context of Sanctions at the Ministry of Finance. The subcommittee will be headed by Finance Minister Anton Siluanov. It will include representatives of the Ministry of Economic Development, the Central Bank, the Federal Tax Service, the Federal Financial Monitoring Service and other structures.

    Together with the Ministry of Energy, the Ministry of Finance will have until June 5 to develop and approve the criteria on the basis of which decisions will be made on the consideration of applications for state support for industry companies.

    A number of proposals were made at the meeting, which it was decided to support.

    Thus, until December 1, a deferment of the mineral extraction tax and insurance contributions will be granted to all enterprises in the coal industry. If necessary, it can be extended for a longer period by a separate decision of the subcommittee.

    Coal industry organizations will be provided with targeted subsidies to compensate for part of the cost of logistics expenses when exporting coal products over long distances.

    Another decision concerns the provision of compensation in the amount of 12.8% of the tariff for export transportation of coal in the north-west and south directions to Siberian coal companies. Their list will be formed by the Ministry of Energy and approved by the subcommittee.

    On the instructions of Mikhail Mishustin, plans for the financial recovery of enterprises in the industry will be approved, including those providing for assistance from direct beneficiaries (shareholders), as well as restrictions on the payment of dividends, an increase in the salaries of senior management, and cost optimization.

    In addition, it has been deemed appropriate to give coal industry enterprises that are experiencing a serious debt burden the opportunity to restructure their credit debt. When working on this measure, the position of the financial regulator, the Bank of Russia, will be taken into account.

    Mikhail Mishustin instructed Sergei Tsivilev and Anton Siluanov to take personal control of the implementation of the decisions taken.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    May 31, 2025
  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Bolivia

    Source: IMF – News in Russian

    May 30, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the Article IV consultation[1] for Bolivia on May 2. The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Bolivia’s real GDP growth has moderated to 2.1 percent in the first three quarters of 2024, driven by a decline in hydrocarbons production, a slowdown in services activity, and a drop in soy crops and related manufacturing due to ‘El Niño’ effects. The economy has also faced disruptions from road blockages and scarcity of foreign exchange (FX)―given critically low international reserves―fuels and other critical inputs. High import costs, weak agricultural production, and road blockages pushed inflation to 10 percent at end-2024, the highest level in over a decade. Unemployment has fallen, but underemployment is rising, and real incomes retrenched on average. The combination of FX shortages, slowing activity, and depreciation of the parallel exchange rate resulted in a compression of the current account deficit to 2.7 percent for 2024. The fiscal deficit surpassed 10 percent of GDP in 2023-24 with declining hydrocarbon revenues, tax exemptions, increased social spending, and higher interest payments. The deficit has been mostly financed by the central bank amid tight external financing constraints. Public debt has increased to 95 percent of GDP.

    The financial sector remains well buffered. However, deposits declined in real terms and net interest margins are pressured by interest rate controls, limiting banks’ ability to raise loan rates amid rising inflation and slowing credit growth. Banks have experienced improved profitability from FX trading gains, resulting in a strengthened capital adequacy ratio of 13.5 percent in 2024, while non-performing loans have remained low at 3.2 percent of total loans.

     

    Executive Board Assessment[3]

    Executive Directors agreed with the thrust of the staff appraisal. They expressed concern over Bolivia’s acute fiscal and external imbalances and unsustainable policy mix and called for urgent actions to address the overvalued exchange rate, bolster foreign reserves, and implement sustained fiscal consolidation. Directors cautioned that inaction could lead to a painful disorderly adjustment and underscored the Fund’s readiness to support the authorities through its various activities. They encouraged the staff to continue to closely engage the authorities on the needed adjustments. Careful communication of the policy reforms to stakeholders would be pivotal to enhance their acceptability.

    Directors stressed that the untenable peg to the U.S. dollar and depleted international reserves call for a decisive shift in the monetary policy framework. They called for a realignment of the exchange rate with market fundamentals, moving toward greater exchange rate flexibility, and for front loaded fiscal consolidation and restrictive monetary policy settings, which would address inflationary pressures, alleviate FX shortages, and allow elimination of FX restrictions. Increasing interest rate flexibility will facilitate effective monetary policy transmission.

    Directors recommended a credible and sustained fiscal consolidation by rationalizing the public wage bill, phasing out fuel subsidies, enhancing public investment management and spending efficiency, and mobilizing tax revenue. Eliminating monetary financing of fiscal deficits is also important. Directors also emphasized the need to mitigate the effects of the policy adjustments on vulnerable populations, including through improved targeting of the social safety net. A coherent fiscal framework can help underpin the consolidation plan.

    Directors emphasized the need to strengthen financial sector supervision amid growing economic vulnerabilities. They called for close monitoring and contingency planning and encouraged the implementation of the remaining 2024 FSAP recommendations and strengthening the AML/CFT framework. Enhancing Bolivia’s public pension fund operations by diversifying investments and strengthening the pension supervisor’s independence is also important.

    Directors called for comprehensive supply side reforms to enhance productivity and growth potential and facilitate external rebalancing by phasing out export ceilings, price controls, and credit quotas. They emphasized the need for a clear regulatory framework to attract private investment and to focus public investment on socially beneficial infrastructure projects. Further efforts to enhance transparency and the governance and anticorruption frameworks will also be important. Improving data adequacy also remains a priority.

    It is expected that the next Article IV consultation with Bolivia will be held on the standard 12 month cycle.

    Table 1. Bolivia: Selected Economic Indicators, 2023-30

    Population (millions, 2024)

    11.3

    Poverty rate (percent, 2023)

    36.5

    Population growth rate (percent, 2024)

    1.4

    Adult literacy rate (percent, 2023)

    95.2

    Life expectancy at birth (years, 2024)

    68.7

    GDP per capita (US$, 2023)

    3,736

    Total unemployment rate (2024Q3)

    3.6

     

    IMF Quota (SDR, millions)

    240.1

     

     

    Est.

    Proj.

     

     

    2023

    2024

    2025

    2026

    Income and prices

    Real GDP

    3.1

    1.3

    1.1

    0.9

    Nominal GDP

    2.6

    6.5

    16.4

    16.9

    CPI inflation (period average)

    2.6

    5.1

    15.1

    15.8

    CPI inflation (end of period)

    2.1

    10.0

    15.6

    16.8

    Combined public sector

    Revenues and grants

    27.8

    28.4

    24.8

    24.2

       Of which: Hydrocarbon related revenue 1/

    2.8

    2.2

    1.9

    1.6

    Expenditure

    38.7

    38.7

    37.5

    37.4

       Current

    32.3

    33.2

    32.5

    32.6

       Capital 2/

    6.4

    5.4

    5.0

    4.8

    Net lending/borrowing (overall balance)

    -10.9

    -10.3

    -12.7

    -13.2

       Of which: Non-hydrocarbon balance

    -15.4

    -16.4

    -16.3

    -16.0

    Total gross NFPS debt 3/

    90.8

    95.0

    90.4

    91.4

    External sector

    Current account

    -2.5

    -2.7

    -2.6

    -3.2

    Exports of goods and services

    26.2

    20.7

    18.0

    16.0

       Of which: Natural gas

    4.5

    3.3

    2.3

    1.8

    Imports of goods and services

    28.6

    23.4

    20.4

    18.9

    Capital account

    0.0

    0.0

    0.0

    0.0

    Financial account (-= net inflow)

    -2.0

    -3.5

    -2.8

    -3.3

       Of which: Direct investment net

    0.0

    -0.2

    -0.2

    -0.1

       Of which: Other investment, net

    -1.5

    -2.1

    -2.3

    -3.4

       Of which: Unidentified financing inflows

    0.0

    0.0

    -1.4

    -3.2

       Of which: Unidentified financing inflows

    0.0

    0.0

    1.9

    2.8

    Net errors and omissions

    -4.8

    -2.6

    0.0

    0.0

    Terms of trade index (percent change)

    1.2

    -2.3

    -1.6

    -0.2

    Central Bank gross foreign reserves 4/ 5/ 6/

    In millions of U.S. dollars

    1,808

    2,009

    2,118

    2,199

    In months of imports of goods and services

    1.9

    2.1

    2.0

    2.0

    In percent of GDP

    4.0

    4.1

    3.8

    3.3

    In percent of ARA

    20.6

    23.0

    22.3

    20.5

    Money and credit

    Credit to the private sector (percent change)

    -2.1

    4.0

    7.5

    7.2

    Credit to the private sector (percent of GDP)

    70.8

    69.2

    63.9

    58.6

    Broad money (percent of GDP)

    90.2

    87.5

    85.7

    86.9

    Memorandum items:

    Nominal GDP (in billions of U.S. dollars)

    45.5

    48.4

    56.3

    65.9

    Bolivianos/U.S. dollar (end-of-period)  7/

    6.9

    …

    …

    …

    REER, period average (percent change) 8/

    -1.5

    …

    …

    …

      Oil prices (in U.S. dollars per barrel)

    80.6

    79.2

    72.0

    68.2

      Energy-related subsidies to SOEs (percent of GDP) 9/

    3.9

    4.0

    3.4

    2.9

    Sources: Bolivian authorities (MEFP, Ministry of Planning, BCB, INE, UDAPE); IMF; Fund staff calculations.
    1/ Excludes YPFB profits/losses.
    2/ Includes net lending.
    3/ Public debt includes SOE’s borrowing from the BCB (but not from other domestic institutions) and BCB loans to FINPRO and FNDR.
    4/ Excludes reserves from the Latin American Reserve Fund (FLAR) and Offshore Liquidity Requirements (RAL).
    5/ All foreign assets valued at market prices.
    6/ Includes a repurchase line of US$99.2 million maturing in 2025.
    7/ Official (buy) exchange rate.
    8/ The REER based on authorities’ methodology is different from that of the IMF (see 2017 and 2018 Staff Reports).
    9/ Includes the cost of subsidy borne by public enterprises and incentives for hydrocarbon exploration investments in the projection period.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/Bolivia page.

    [3] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/05/30/pr-25168-bolivia-imf-concludes-2025-art-iv-consult

    MIL OSI

    MIL OSI Russia News –

    May 31, 2025
  • MIL-OSI New Zealand: NZ Currency – 10 cent coin with King Charles III image now in production – Reserve Bank

    Source: Reserve Bank of New Zealand

    29 May 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has quality checked and approved the 10 cent coin with the effigy of King Charles III, King of New Zealand (KCIII), for production and New Zealanders can expect to see it in their change around 2027.

    Photos of the quality checking were released today giving people the first look at the actual coin.

    “We received pre-production samples of the coin to check and approve before starting the full production run. We check the coins for quality, weight, size, security properties and that they match the design we ordered,” says Ian Woolford, Director of Money and Cash – Tari Moni Whai Take.

    2024 is stamped on the coin which is the year RBNZ placed the order with the Royal Canadian Mint. New Zealand does not have a mint, so our coins are produced overseas.

    The King’s effigy was designed for the Royal Mint by illustrator and designer Dan Thorne to be used on all New Zealand’s coins. The Royal Numismatic Society of New Zealand provided advice on the 10 cent coin before it went into production. The King faces to the left in keeping with the convention that the direction changes between sovereigns.

    “The reverse (or tails) side of the 10 cent coin still features an image of a koruru – the carved face on the gable of a meeting house – designed by James Berry as a part of the 1967 decimal coin series,” says Mr Woolford.

    “All existing circulating coins, and $20 banknotes, bearing images of Queen Elizabeth II continue to be legal tender. We order notes and coins infrequently and do not plan to destroy stock or withdraw them early from circulation as this would be wasteful and poor environmental practice.”

    Minting the 20 cent, 50 cent, $1 and $2 coins with the KCIII image is likely to be around 2027. Coins then typically enter circulation around two years after production.

    “Updating our currency with the new sovereign takes several years because we always hold sufficient stock to deal with demand spikes or supply issues. We make enough coins and banknotes just in case – not just in time,” says Mr Woolford.

    “We will let everyone know when the KCIII coins are due to enter circulation as the time nears.”

    Banks, retailers, consumers and anyone using or handling cash will not need to do anything differently when we introduce the coins bearing the image of the King. We will work with the cash industry to make sure there are no glitches with cash handling machines like self-service checkouts, vending and change machines accepting and issuing the new and old coins.
     

    More information

    King Charles III coin: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=65f32a7e75&e=f3c68946f8

    MIL OSI New Zealand News –

    May 31, 2025
  • MIL-OSI United Nations: Deputy Secretary-General’s remarks at the Opening Session of the International Conference for Glaciers’ Preservation [as delivered]

    Source: United Nations secretary general

    Your Excellency Mr. Emomali Rahmon, President of the Republic of Tajikistan,

    Your Excellency, the Prime Minister of Pakistan, Mr.  Shehbaz Sharif,

    Excellencies, Ladies and Gentlemen,

    I would like to extend my warmest congratulations to the Government and the people of the Republic of Tajikistan for convening this High-Level International Conference and championing 2025 as the United Nations declared International Year of Glaciers’ Preservation.  

    Mr. President, I thank you for the opportunity to visit the Glaciers in the Pamir mountain range. This was a reality check to how fragile the ecosystem is and needs preservation.

    Your commitment to glaciers – the water towers of the world, holding nearly 70% of Earth’s freshwater – stands as a beacon of hope, towards keeping global momentum, securing our planet’s vital water sources, and raising urgent climate ambition.

    A decade has passed since the world embraced the 2030 Agenda for Sustainable Development and the Paris Agreement, setting out a bold vision for a more just, resilient, and sustainable future.

    In spite of the recent geopolitical tensions and the pushback on multilateralism, this Conference convenes at a pivotal moment—with a decisive call to turn commitments into action, and shape the trajectory of our planet, economies, and the well-being of generations to come.

    The time for ambition is an imperative now, and the stakes have never been higher.

    Allow me to recognize the invaluable contributions of the World Meteorological Organization, UNESCO, the Asian Development Bank, and all other dedicated partners whose collaboration has made this conference – and this growing momentum – possible.

    Your steady dedication to glacier research and monitoring throughout the 2025-2034 Decade of Action on Cryosphere Sciences has been instrumental in raising awareness and advancing scientific knowledge to safeguard our planet’s equilibrium.

    Excellencies, Friends,

    Since 1975, over 9,000 billion tons of ice have disappeared – equivalent to a 25-meter-thick block covering all of Germany.

    In the past six years, glaciers have been retreating at an unprecedented pace, marking the fastest loss in recorded history.

    Between 2022 and 2024 alone, the world witnessed the largest three-year glacier mass loss ever observed – a staggering acceleration of ice melt.

    At current rates, many glaciers may not survive this century, reshaping landscapes, ecosystems, livelihoods and water security on a global scale.

    This is not just a mountain crisis – it is a slow-moving global catastrophe with far-reaching consequences for  planet and people.

    Glacier loss threatens water and food security, biodiversity loss, infrastructure, and the stability and health of communities worldwide.

    Billions of people depend on glaciers for drinking water, irrigation, livelihoods, and energy production, making their preservation essential for human survival and sustainable development.

    Yet those at the frontline of glacier loss – primarily in developing regions – face the greatest injustices.

    With shrinking water resources, vulnerable communities endure worsening poverty, forced migration, and harsh living conditions all while relying on glacier-fed supplies that are rapidly disappearing.

    Melting glaciers also drive sea-level rise, endangering coastal megacities and displacing millions downstream.

    Each millimeter of rising seas puts hundreds of thousands at risk of annual flooding and much more.

    In my own country Nigeria, I witness firsthand the impact of sea level rise in Lagos, which is threatened and in the Niger Delta which as seen unprecedented changes in its ecosystem. And we also see states once not affected by flooding are experiencing them at unprecedented levels.

    Beyond the physical impacts, glacier loss is also an erosion of culture, of history, and identity.

    Communities tied to mountain landscapes face the disappearance of ancestral lands, traditional knowledge, and linguistic heritage, severing connections that have existed for generations.

    Excellencies, Ladies and Gentlemen,

    With a third of mountain ice already lost due to climate change, these consequences will only intensify without immediate mitigation measures to keep global temperatures within the 1.5 degrees threshold.

    Let me note at this time 83% of these emissions for this mitigation agenda, are within the hands of 35 countries.

    Stepping up our ambition and scaling up action is imperative, before dwindling water resources destabilize ecosystems and economic disruptions become irreversible.

    Strategies for glacier preservation must enable integrated, inclusive, data-driven and locally grounded adaptation responses that meet the needs of those most vulnerable.

    Investing in adaptation should be recognized as a catalyst of sustainable growth and resilience.

    Yet, adaptation and risk reduction tools cannot succeed without sustained, predictable financing to support resilience-building at every level.

    The upcoming Financing for Development Conference in Seville is an opportunity to make the Clarion Call, for more investment in adaptation a reality.

    This year’s Global Assessment Report on disaster risk reduction informs us that “Resilience Pays”.

    Every dollar spent on resilience enhances early warning systems, safeguards infrastructure, and protects livelihoods from extreme climate events. It reinforces food and water security and strengthens economies against future shocks.

    But we must significantly scale up financing and investments – integrating risk reduction into core policy decisions.

    Failing to invest now, will result in exponentially higher costs – ranging from economic loss, development setbacks to humanitarian crisis.

    As we embark on the Decade for Glaciers’ Preservation, I have three messages:

    First, let us ensure that this conference signals an urgent call to action, uniting multilateral cooperation and strategic global partnerships.

    These partnerships should be engines for the design and delivery of ambitious, economy-wide Nationally Determined Contributions (NDCs) – as we go to Belem in Brazil later this year. These should not only as climate pledges, but as investment of roadmaps that drive SDG implementation.

    Second, ensure that your national climate plans set measurable adaptation targets across water, infrastructure, energy, and food systems to build resilience, secure financing, and protect livelihoods. These plans need to be linked to national budgets to optimize resource allocations, avert losses, and build institutional capacities to fill gaps in technical expertise but also to create an enabling environment for large scale and urgent investments.

    Third, identify pipelines of market-ready investments, backed by high-quality data and evidence-based tools that forecast returns, demonstrate co-benefits for job creation and economic growth, and unlock new financial services.

    Excellencies, Ladies and Gentlemen,

    Together, we can galvanize impactful solutions to safeguard the cryosphere, polar regions, and mountain ecosystems.

    Early warning systems could be strengthened with hydro-climatic experts to reinforce datasets that help anticipate water-related risks and ensuring a constant state of preparedness to enable early action.

    Data-driven predicative analytics and AI could also complement skills, while generating baselines that help identify and anticipate fault lines, aligning with the Secretary General’s Early Warnings for All initiative.

    This year’s Fourth Financing for Development Conference presents an opportunity to ensure that development funding is not just allocated, but strategically risk-informed – across all types of shocks-strengthening resilience and safeguarding development gains.

    Let us use other global milestones including – COP30 in Brazil, the Third UN Ocean Conference in Nice, the UN Food Systems Summit Stocktake in Addis Ababa, Ethiopia, and the Second World Summit on Sustainable Development in Doha, Qatar – to elevate political will and sharpen our focus on glaciers for people, planet and prosperity.

    In conclusion, as we look forward to the 2026 UN Water Conference, co-hosted by Senegal and the United Arab Emirates, I also wish to recognize the co-hosts of the 2023 UN Water Conference – Tajikistan and the Netherlands – for their continued political commitment to the International Decade for Action on Water for Sustainable Development 2018–2028.

    Let us act with the urgency that SDG 6 demands by protecting water-related ecosystems.

    The UN – as always – stands ready to ensure that we meet this target. For our communities, for our economies, for our children’s future and those yet born.

    Let our children not know thirst.

    Thank you.

    ***

    MIL OSI United Nations News –

    May 31, 2025
  • MIL-OSI Africa: International Monetary Fund (IMF) Staff Conclude Article IV Discussions and Reach Staff-Level Agreement on the Third Review of the Extended Credit Facility for Ethiopia

    Source: Africa Press Organisation – English (2) – Report:

    WASHINGTON D.C., United States of America, May 30, 2025/APO Group/ —

    • IMF staff and the Ethiopian authorities have reached staff-level agreement on economic policies to conclude the third review of the four-year US$3.4 billion Extended Credit Facility arrangement. Once approved by the IMF Executive Board, Ethiopia will gain access to about US$260 million in financing.
    • Ethiopia’s macroeconomic performance has exceeded program expectations, with better-than-forecast results for inflation, export growth, and international reserves.
    • Maintaining reform momentum remains essential for consolidating recent gains, correcting macroeconomics imbalances, restoring external debt sustainability, laying the foundations for high, private sector-led growth, and ensuring the success of Ethiopia’s homegrown reform agenda.

    A staff team from the International Monetary Fund (IMF) led by Mr. Alvaro Piris, visited Addis Ababa from April 3 to 17, 2025, to discuss the 2025 Article IV consultation and the third review under the Extended Credit Facility (ECF). Discussions continued at the Spring Meetings in Washington DC, April 21-28, and subsequently. The ECF arrangement was approved by the IMF Executive Board on July 29, 2024, for a total amount of US$3.4 billion (SDR 2.556 billion). Subject to approval by the IMF Executive Board, the third review will make available about US$260 million (SDR191.7 million), bringing total IMF financial support under the ECF arrangement so far to about US$1,849 million (SDR1,406.4 million).

    Today, Mr Piris issued the following statement:

    “The IMF staff team and the Ethiopian authorities have reached staff-level agreement on the third review of Ethiopia’s economic program under the ECF arrangement. The agreement is subject to the approval of IMF management and the Executive Board in the coming weeks. A memorandum of understanding with official creditors is expected to be agreed ahead of the IMF Board’s consideration of the third review.

    “The authorities’ policy actions in the first year of the program have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption. Measures to modernize monetary policy, mobilize domestic revenues, enhance social safety nets, strengthen state-owned enterprises, and anchor financial stability continue to show encouraging results. Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports, and international reserves.

    “Recent policy action should help deepen the FX market and tackle remaining distortions. While real exchange misalignment has been corrected and FX availability has improved from a year ago, the spread between the official and parallel market widened again in early 2025 and high fees and commissions persist. Actions that are being rolled out to enhance transparency, reduce costs, ease restrictions on current account transactions, and strengthen prudential regulation will help to improve the functioning of the FX market.

    “Maintaining reform momentum will be key to consolidating gains and securing sustainable high growth. Continued tight monetary and financial conditions will be important for managing inflation and exchange rate expectations. Further revenue mobilization is needed to provide sustainable financing for critical development spending. Reforms to improve the business environment, ensure fair taxation practices, encourage foreign direct investment, and facilitate open dialogue with business will be important to secure private sector investment. Efforts to end the remaining elements of financial repression and develop the capital market will help to mobilize savings and support the efficient allocation of capital.

    “The staff team is grateful to the authorities for the excellent policy discussions and their strong commitment to the success of the IMF-supported economic program. The team met with Minister of Finance Ahmed Shide, Governor of the National Bank of Ethiopia Mamo Mihretu, State Minister of Finance Eyob Tekalign, and other senior officials. Staff also had productive discussions with representatives of banks and businesses that are operating in a range of sectors and representatives of civil society.”

    MIL OSI Africa –

    May 31, 2025
  • MIL-OSI USA: Press Release: FDIC Announces Retirement of Patrick Mitchell, Director of the Division of Insurance and Research

    Source: US Federal Deposit Insurance Corporation FDIC

    WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today announced the retirement of Patrick (Pat) Mitchell, Director of the Division of Insurance and Research (DIR). 

    “Pat’s intellectual prowess, wide-ranging expertise, and deep understanding of economic, banking, and policy issues has been a tremendous resource for our agency,” said FDIC Acting Chairman Travis Hill. “Whether he was analyzing risks in the banking sector or managing the FDIC’s Deposit Insurance Fund (DIF), Pat always approached his work thoughtfully and proficiently.”

    Mr. Mitchell joined the FDIC in 2010 as a financial analyst and served in several other management roles before being named division director in May 2022. He oversaw the FDIC’s work monitoring existing and emerging risks to the DIF, and led DIR’s response to the 2023 regional bank failures.

    During his 15 years at the FDIC, Mr. Mitchell also served as Deputy Director for Risk Analysis and Pricing, Associate Director of Asset Management in the Division of Resolutions and Receiverships (DRR), and Chief of DIR’s Large Bank Pricing section.

    Mr. Mitchell is a Chartered Financial Analyst and earned a Master of Business Administration degree from the University of North Carolina at Chapel Hill and a Bachelor of Science degree in economics from the United States Military Academy.  He also attended the Senior Managers in Government program at the Harvard Kennedy School.

    # # #

    MEDIA CONTACT: 
    mediarequests@fdic.gov

    MIL OSI USA News –

    May 31, 2025
  • MIL-OSI United Nations: Secretary-General’s remarks to the Africa Dialogue Series High-Level Policy Dialogue [bilingual as delivered; scroll down for all-English and all-French]

    Source: United Nations secretary general

    This year’s dialogue focuses on “Justice for Africans and People of African Descent Through Reparations”.

    This is also the African Union’s theme for 2025, as it was already said.

    And it is a call gathering momentum around the world – from Freetown to Bridgetown. 

    Understandably so.

    Africa is a continent of boundless energy and possibility.

    But for too long, the colossal injustices inflicted by enslavement, the transatlantic slave trade, and colonialism have been left unacknowledged and unaddressed.

    I deeply regret that these wrongs were perpetrated by many countries, including my own.

    And they continue to distort our world today.

    Decolonization did not free African countries, or people of African Descent, from the structures and prejudices that made those projects possible.

    When African countries gained their independence, they inherited a system built to serve others — not them. 

    The inherited economic model and years of neglect in social and institutional investments during the colonial era created lasting challenges, shaping post-independence reality.

    Structures based on exploitation persisted.

    So did racism. 

    And the long shadow of colonialism can be felt in many of the continent’s current conflicts and governance challenges.

    Many African countries were under colonial domination when today’s multilateral institutions were created.

    And that injustice is reflected to this day.

    Excellencies,

    We point to the poisoned legacies of enslavement and colonialism, not to sow divisions but to heal them.

    Reparatory justice frameworks are critical – to redress historic wrongs, address today’s challenges, and ensure the rights and dignity of all.

    Such frameworks encompass a broad range of measures.

    We need a comprehensive approach, developed with the participation of affected communities, to achieve accountability and redress.

    And we must be clear-eyed about the fact that attempts to repair the past ring hollow unless they also seek to dismantle its manifestations in the present:

    From racism, to extraction of African resources, to the injustices embedded in structures, institutions, and global governance.

    Animated by honesty and justice, we can transform the legacies of slavery and colonialism into equal and respectful partnerships:

    Partnerships that ensure African countries take their rightful place in shaping global decision-making…

    That help to deliver on the priorities of African and Caribbean countries, and people of African descent…

    And that help to ensure that all Africans – and the African diaspora – have the opportunity to thrive.

    We must push for the Second International Decade for People of African Descent to deliver on reparatory justice, equal rights, and the Durban Declaration – the world’s blueprint to tackle racism and racial discrimination.

    Yes, these are turbulent times:

    Times of trade barriers…

    Deep cuts to lifesaving assistance…

    And international cooperation itself called into question.

    But that does not alter the truth that justice for Africa, for the Caribbean, and for all people of African descent requires global action and global partnerships.

    We need partnerships to reform global governance.

    The Pact for the Future agreed last year drove progress. I thank African countries sincerely for their support in getting an ambitious text over the line.

    And we must keep pushing for fair representation within international institutions – including permanent African representation on the United Nations Security Council.

    We need partnerships for peace founded on the principles of justice and international law, as set out in the United Nations Charter.

    The international community must play its part – in preventing and ending conflicts, relieving their appalling effects, and ensuring justice for victims.

    And the United Nations will never relent in pursuing peace for the great continent of Africa.

    We need partnerships to advance sustainable development. 

    The Pact for the Future includes important commitments: 

    To advance an SDG stimulus…

    To reform the international financial architecture…

    And to take action on debt – which is suffocating economies and sapping investment in many countries in Africa and the Caribbean.

    The upcoming Financing for Development Conference in Sevilla is an important opportunity to push this agenda forward.  

    We need concrete commitments on debt: to lower the cost of borrowing, improve debt restructuring, and prevent crises from taking hold.
                       
    We will keep pushing to boost the lending capacity of Multilateral Development Banks, making them bigger and bolder, able to mobilise far more private finance at reasonable cost to the African continent and the Caribbean. 

    And we need action to unleash a surge in finance across the board.  

    Developed countries must keep their promises on development spending…

    Governments must strengthen domestic resource mobilization…

    And we must keep working towards an inclusive, effective global tax regime able to meaningfully reduce tax evasion and to fight elicit financial flows and money laundering that is so dramatically impacting the African continent. 

    Enfin, nous avons besoin de partenariats pour la justice climatique.

    Les pays africains ne sont pas à l’origine de la crise climatique.

    Pourtant, les effets du réchauffement planétaire font des ravages sur tout le continent :

    Ils aggravent la faim, poussent les populations à l’exil, fragilisent les économies, détruisent les moyens de subsistance et fauchent des vies.

    Les Caraïbes sont elles aussi touchées de manière disproportionnée.

    Il est grand temps de mettre fin à cette injustice :

    Il faut que, parallèlement à des sources de financement innovantes, des contributions conséquentes soient versées au nouveau Fonds visant à faire face aux pertes et dommages.

    Il faut que le financement de l’adaptation connaisse un véritable bond et, notamment, que les pays développés honorent l’engagement qu’ils ont pris de verser au moins 40 milliards de dollars par an – dès cette année.

    Il faut également des investissements massifs dans les énergies propres.

    L’Afrique concentre 60 % des meilleures ressources solaires du monde et près d’un tiers des minéraux essentiels à la révolution des énergies renouvelables.

    Pourtant, les installations présentes sur le continent ne représentent que 1,5 % des capacités solaires mondiales.

    Près de 600 millions de personnes sont toujours privées d’électricité.

    Et les pays et les populations d’Afrique sont relégués au bas de la chaîne de valeur des minéraux critiques, tandis que d’autres tirent largement profit de ces ressources.

    L’exploitation séculaire des ressources naturelles du continent, source de conflits et de misère, doit cesser.

    Nous devons agir pour permettre à l’Afrique d’occuper la place qui lui revient, celle d’un leader mondial des énergies propres…

    Pour stimuler les investissements et réduire les risques pour les investisseurs…

    Et pour que les pays et les populations d’Afrique tirent le meilleur parti de leurs minéraux critiques.

    Les nouveaux plans nationaux d’action pour le climat, ou contributions déterminées au niveau national, qui seront présentés cette année, doivent être conformes à l’objectif de limiter le réchauffement planétaire à 1,5 degré Celsius, surtout dans les pays qui sont les grand pollueurs.

    Ces plans représentent une formidable occasion d’agir.

    J’exhorte les dirigeants africains à ne pas la laisser passer. Et à intégrer dans ces nouveaux plans des objectifs en matière de climat, d’énergie et de développement durable afin d’attirer les investissements.

    Et j’exhorte les pays, les entreprises et toutes les parties intéressées à collaborer avec nous pour appliquer les recommandations formulées par le Groupe chargé de la question des minéraux critiques pour la transition énergétique – et ainsi faire en sorte que les droits humains, la justice et l’équité soient garantis tout au long de la chaîne de valeur, et que les pays d’Afrique soient les premiers à tirer parti de ces ressources.

    Excellences,

    Dans tous ces grands domaines, mobilisons-nous pour qu’aucune personne, aucun pays et aucun continent ne soit laissé de côté.

    Et ensemble, faisons en sorte que justice soit rendue à l’Afrique et aux personnes d’ascendance africaine.

    Je vous remercie.

    *****
    [all-English]

    This year’s dialogue focuses on “Justice for Africans and People of African Descent Through Reparations”.

    This is also the African Union’s theme for 2025, as it was already said.

    And it is a call gathering momentum around the world – from Freetown to Bridgetown. 

    Understandably so.

    Africa is a continent of boundless energy and possibility.

    But for too long, the colossal injustices inflicted by enslavement, the transatlantic slave trade, and colonialism have been left unacknowledged and unaddressed.

    I deeply regret that these wrongs were perpetrated by many countries, including my own.

    And they continue to distort our world today.

    Decolonization did not free African countries, or people of African Descent, from the structures and prejudices that made those projects possible.

    When African countries gained their independence, they inherited a system built to serve others — not them. 

    The inherited economic model and years of neglect in social and institutional investments during the colonial era created lasting challenges, shaping post-independence reality.

    Structures based on exploitation persisted.

    So did racism. 

    And the long shadow of colonialism can be felt in many of the continent’s current conflicts and governance challenges.

    Many African countries were under colonial domination when today’s multilateral institutions were created.

    And that injustice is reflected to this day.

    Excellencies,

    We point to the poisoned legacies of enslavement and colonialism, not to sow divisions but to heal them.

    Reparatory justice frameworks are critical – to redress historic wrongs, address today’s challenges, and ensure the rights and dignity of all.

    Such frameworks encompass a broad range of measures.

    We need a comprehensive approach, developed with the participation of affected communities, to achieve accountability and redress.

    And we must be clear-eyed about the fact that attempts to repair the past ring hollow unless they also seek to dismantle its manifestations in the present:

    From racism, to extraction of African resources, to the injustices embedded in structures, institutions, and global governance.

    Animated by honesty and justice, we can transform the legacies of slavery and colonialism into equal and respectful partnerships:

    Partnerships that ensure African countries take their rightful place in shaping global decision-making…

    That help to deliver on the priorities of African and Caribbean countries, and people of African descent…

    And that help to ensure that all Africans – and the African diaspora – have the opportunity to thrive.

    We must push for the Second International Decade for People of African Descent to deliver on reparatory justice, equal rights, and the Durban Declaration – the world’s blueprint to tackle racism and racial discrimination.

    Yes, these are turbulent times:

    Times of trade barriers…

    Deep cuts to lifesaving assistance…

    And international cooperation itself called into question.

    But that does not alter the truth that justice for Africa, for the Caribbean, and for all people of African descent requires global action and global partnerships.

    We need partnerships to reform global governance.

    The Pact for the Future agreed last year drove progress. I thank African countries sincerely for their support in getting an ambitious text over the line.

    And we must keep pushing for fair representation within international institutions – including permanent African representation on the United Nations Security Council.

    We need partnerships for peace founded on the principles of justice and international law, as set out in the United Nations Charter.

    The international community must play its part – in preventing and ending conflicts, relieving their appalling effects, and ensuring justice for victims.

    And the United Nations will never relent in pursuing peace for the great continent of Africa.

    We need partnerships to advance sustainable development. 

    The Pact for the Future includes important commitments: 

    To advance an SDG stimulus…

    To reform the international financial architecture…

    And to take action on debt – which is suffocating economies and sapping investment in many countries in Africa and the Caribbean.

    The upcoming Financing for Development Conference in Sevilla is an important opportunity to push this agenda forward.  

    We need concrete commitments on debt: to lower the cost of borrowing, improve
    debt restructuring, and prevent crises from taking hold.

    We will keep pushing to boost the lending capacity of Multilateral Development Banks, making them bigger and bolder, able to mobilise far more private finance at reasonable cost to the African continent and the Caribbean. 

    And we need action to unleash a surge in finance across the board.  

    Developed countries must keep their promises on development spending…

    Governments must strengthen domestic resource mobilization…

    And we must keep working towards an inclusive, effective global tax regime able to meaningfully reduce tax evasion and to fight elicit financial flows and money laundering that is so dramatically impacting the African continent. 

    Finally, we need partnerships for climate justice.

    African countries did not cause the climate crisis. 

    Yet the effects of our heating planet are wreaking havoc across the continent:

    Fuelling hunger and displacement, hobbling economies, destroying livelihoods, and taking lives.

    The Caribbean is also suffering disproportionately.

    Justice is long overdue:

    We need significant contributions – together with innovative sources of financing – to the new fund for responding to loss and damage.

    We need a boom in adaptation finance – starting with developed countries honouring their commitment to at least $40 billion a year by this year.

    And we need massive investments in clean energy.

    Africa is home to 60 percent of the world’s best solar resources and around a third of the minerals critical to the renewable energy revolution.

    Yet the continent has just 1.5 percent of global installed solar capacity.

    Around 600 million people remain without power.

    And African countries and communities are pushed to the bottom of the critical minerals value chain, while others feast on their resources.

    The centuries-old exploitation of the continent’s natural resources – which fuels conflict and misery – must end.

    We need action for Africa to take its rightful place as the clean powerhouse of the world…

    To derisk and boost investment…

    And to ensure African countries and communities receive maximum benefit from their critical minerals. 

    New national climate action plans, or NDCs – must be submitted this year and align with limiting global temperature rise to 1.5 degrees Celsius, especially in countries that are the major polluters.

    These represent an immense opportunity.

    I urge African leaders to take it. And to use these new plans to bring together climate, energy, and sustainable development goals to attract investment.

    And I urge countries, companies and more, to work with us to deliver on the recommendations of our Panel on Critical Energy Transition Minerals – to ensure human rights, justice and equity through the value chain, and to retain maximum benefit in African countries.

    Excellencies,

    Across all these critical fronts, let’s work to leave no person, no country and no continent behind. 

    And together, let’s deliver justice for Africa and people of African Descent.

    Thank you.

    ******
    [all-French]

    Le dialogue de cette année a pour thème « Justice pour les Africains et les personnes d’ascendance africaine grâce aux réparations ».

    C’est également le thème retenu par l’Union africaine pour 2025, comme il a déjà été dit.

    Cet appel prend de l’ampleur dans le monde entier, de Freetown à Bridgetown.

    Cela n’a rien d’étonnant.

    L’énergie et le potentiel du continent africain sont sans limites.

    Mais pendant trop longtemps, les immenses injustices engendrées par l’esclavage, la traite transatlantique des esclaves et le colonialisme n’ont pas été reconnues ni prises en compte.

    Je regrette profondément que ces injustices aient été commises par de nombreux pays, dont le mien.

    Elles continuent de nos jours à peser sur le monde.

    La décolonisation n’a pas libéré les pays africains, ni les personnes d’ascendance africaine, des structures et des préjugés qui ont rendu ces projets possibles.

    Lorsque les pays africains ont accédé à l’indépendance, ils ont hérité d’un système conçu pour servir d’autres qu’eux.

    Le modèle économique hérité et des années de négligence en matière d’investissements sociaux et institutionnels pendant l’ère coloniale ont créé des problèmes durables qui ont façonné la réalité de l’après-indépendance.

    Les structures fondées sur l’exploitation ont persisté.

    Le racisme aussi.

    L’ombre du colonialisme plane sur nombre des conflits et difficultés de gouvernance que connaît le continent de nos jours.

    De nombreux pays d’Afrique étaient sous domination coloniale lorsque les institutions multilatérales actuelles ont été créées.

    Cette injustice est toujours visible aujourd’hui.

    Excellences,

    Si nous pointons du doigt l’héritage empoisonné de l’esclavage et du colonialisme, ce n’est pas pour semer la division, mais pour soigner les blessures du passé.

    Les cadres de justice réparatrice sont essentiels – pour réparer les torts historiques, relever les défis d’aujourd’hui et garantir les droits et la dignité de toutes et tous.

    Ces cadres englobent un large éventail de mesures.

    Nous avons besoin d’une stratégie globale, développée avec la pleine participation des populations affectées, pour faire appliquer le principe de responsabilité et assurer l’octroi de réparations.

    Nous devons nous montrer lucides : il est vain de vouloir réparer les erreurs du passé sans s’attaquer aussi à leurs répercussions actuelles :

    Du racisme à l’extraction des ressources africaines, en passant par les injustices ancrées dans les structures, les institutions et la gouvernance mondiale.

    C’est dans un esprit d’honnêteté et de justice que nous pourrons transformer les séquelles de l’esclavage et du colonialisme en partenariats fondés sur l’égalité et le respect.

    Des partenariats qui garantissent que les pays africains occupent la place qui leur revient dans le processus décisionnel mondial…

    Qui permettent de répondre aux priorités des pays d’Afrique et des Caraïbes, et des personnes d’ascendance africaine…

    Et qui contribuent à faire en sorte que tous les Africains – et la diaspora africaine – aient la possibilité de prospérer.

    Nous devons tout faire pour que la deuxième Décennie internationale des personnes d’ascendance africaine aboutisse à une justice réparatrice, à l’égalité des droits et à la réalisation de la Déclaration de Durban – le plan mondial de lutte contre le racisme et la discrimination raciale.

    Nous vivons, certes, des temps agités :

    Des temps où se dressent des barrières commerciales…

    Où l’aide vitale fait l’objet de coupes sombres…

    Et où la coopération internationale elle-même est remise en question.

    Il n’en demeure pas moins que la justice pour l’Afrique, pour les Caraïbes et pour toutes les personnes d’ascendance africaine nécessite une action et des partenariats mondiaux.

    Nous avons besoin de partenariats pour réformer la gouvernance mondiale.

    Le Pacte pour l’avenir, adopté l’année dernière, a permis certaines avancées. Je remercie sincèrement les pays africains du soutien qu’ils ont apporté à l’adoption de ce texte ambitieux.

    Nous devons continuer d’œuvrer en faveur d’une représentation équitable au sein des institutions internationales, et notamment d’une représentation permanente de l’Afrique au Conseil de sécurité de l’ONU.

    Nous avons besoin de partenariats pour la paix fondés sur les principes de la justice et du droit international, tels qu’ils sont énoncés dans la Charte des Nations Unies.

    La communauté internationale doit jouer son rôle – en prévenant les conflits et en y mettant fin, en atténuant leurs effets épouvantables et en garantissant la justice pour les victimes.

    Les Nations Unies ne relâcheront jamais leurs efforts en faveur de la paix sur le grand continent africain.

    Nous avons besoin de partenariats pour faire progresser le développement durable.

    Le Pacte pour l’avenir comprend des engagements importants :

    Promouvoir un plan de relance des objectifs de développement durable…

    Repenser l’architecture financière internationale…

    Et prendre des mesures concernant la dette, qui étouffe les économies et sape l’investissement dans de nombreux pays d’Afrique et des Caraïbes.

    La prochaine Conférence sur le financement du développement, qui se tiendra à Séville, est une occasion importante de faire avancer ce dossier.

    Nous avons besoin d’engagements concrets à cet égard, en vue d’abaisser le coût de l’emprunt, de faciliter la restructuration de la dette et d’empêcher les crises de s’installer.

    Nous poursuivrons l’action menée pour renforcer la capacité de prêt des banques multilatérales de développement, les rendre plus imposantes et plus audacieuses et leur donner les moyens de mobiliser bien plus de financements privés à un coût raisonnable au continent africain et aux Caraïbes.

    Nous devons prendre des mesures pour stimuler le financement dans tous les domaines.

    Les pays développés doivent tenir leurs promesses en matière de dépenses de développement…

    Les Gouvernements doivent accroître la mobilisation de ressources nationales…

    Et nous devons continuer d’œuvrer en faveur d’un régime fiscal mondial inclusif et efficace, qui permette de réduire l’évasion fiscale de manière significative et de lutter contre les flux financiers illicites et le blanchiment d’argent cela a un impact si dramatique sur le continent africain.

    Enfin, nous avons besoin de partenariats pour la justice climatique.

    Les pays africains ne sont pas à l’origine de la crise climatique.

    Pourtant, les effets du réchauffement planétaire font des ravages sur tout le continent :

    Ils aggravent la faim, poussent les populations à l’exil, fragilisent les économies, détruisent les moyens de subsistance et fauchent des vies.

    Les Caraïbes sont elles aussi touchées de manière disproportionnée.

    Il est grand temps de mettre fin à cette injustice :

    Il faut que, parallèlement à des sources de financement innovantes, des contributions conséquentes soient versées au nouveau Fonds visant à faire face aux pertes et dommages.

    Il faut que le financement de l’adaptation connaisse un véritable bond et, notamment, que les pays développés honorent l’engagement qu’ils ont pris de verser au moins 40 milliards de dollars par an – dès cette année.

    Il faut également des investissements massifs dans les énergies propres.

    L’Afrique concentre 60 % des meilleures ressources solaires du monde et près d’un tiers des minéraux essentiels à la révolution des énergies renouvelables.

    Pourtant, les installations présentes sur le continent ne représentent que 1,5 % des capacités solaires mondiales.

    Près de 600 millions de personnes sont toujours privées d’électricité.

    Et les pays et les populations d’Afrique sont relégués au bas de la chaîne de valeur des minéraux critiques, tandis que d’autres tirent largement profit de ces ressources.

    L’exploitation séculaire des ressources naturelles du continent, source de conflits et de misère, doit cesser.

    Nous devons agir pour permettre à l’Afrique d’occuper la place qui lui revient, celle d’un leader mondial des énergies propres…

    Pour stimuler les investissements et réduire les risques pour les investisseurs…

    Et pour que les pays et les populations d’Afrique tirent le meilleur parti de leurs minéraux critiques.

    Les nouveaux plans nationaux d’action pour le climat, ou contributions déterminées au niveau national, qui seront présentés cette année, doivent être conformes à l’objectif de limiter le réchauffement planétaire à 1,5 degré Celsius, surtout dans les pays qui sont les grand pollueurs.

    Ces plans représentent une formidable occasion d’agir.

    J’exhorte les dirigeants africains à ne pas la laisser passer. Et à intégrer dans ces nouveaux plans des objectifs en matière de climat, d’énergie et de développement durable afin d’attirer les investissements.

    Et j’exhorte les pays, les entreprises et toutes les parties intéressées à collaborer avec nous pour appliquer les recommandations formulées par le Groupe chargé de la question des minéraux critiques pour la transition énergétique – et ainsi faire en sorte que les droits humains, la justice et l’équité soient garantis tout au long de la chaîne de valeur, et que les pays d’Afrique soient les premiers à tirer parti de ces ressources.

    Excellences,

    Dans tous ces grands domaines, mobilisons-nous pour qu’aucune personne, aucun pays et aucun continent ne soit laissé de côté.

    Et ensemble, faisons en sorte que justice soit rendue à l’Afrique et aux personnes d’ascendance africaine.

    Je vous remercie.

    MIL OSI United Nations News –

    May 31, 2025
  • MIL-OSI United Nations: Tunisia: Inclusive, multi-hazard and multi-sectoral disaster risk reduction strategies triggering funding for resilience

    Source: UNISDR Disaster Risk Reduction

    In 2019, Tunisia formally endorsed its National Disaster Risk Reduction (DRR) Strategy, developed through an inclusive, participatory process. With support from the United Nations Office for Disaster Risk Reduction (UNDRR) and the UNDP Country Office, the strategy integrates biological hazards and prioritizes post-COVID-19 recovery through a ‘build back better’ approach. This forward-looking framework aligns with national strategies on climate change, biodiversity and sustainable development, and now forms a cornerstone of Tunisia’s Comprehensive Strategy for Ecological Transformation, endorsed by the Council of Ministers in February 2023.

    One of the strategy’s most significant outcomes has been the launch of a six-year (2021-2027) Comprehensive Programme for Disaster Risk Management and Resilience, which has attracted US$ 125 million in investment from the World Bank and the French Development Agency . This programme aims to enhance Tunisia’s preparedness and response capacities for disasters and climate shocks.

    The programme was shaped through extensive national consultations, particularly with the Ministry of Environment, which serves as the National Sendai Framework Focal Point. It resulted in the “Blended Programme for Resilience to Natural Disasters”, built around four interlinked pillars aimed at strengthening institutional, legislative and financial systems, fostering a robust culture of preparedness and recovery.:

    1. Flood risk management in urban areas: A US$ 42 million initiative led by the Ministry of Equipment and Housing focuses on strategic flood mitigation to protect urban populations and infrastructure.
    2. Enhanced early warning systems: With a US$ 24 million investment, the National Meteorological Institute is upgrading its meteorological and hydrological capabilities to deliver timely and reliable disaster alerts.
    3. Innovative disaster risk financing: Under the Ministry of Finance, a US$ 30 million project is developing disaster insurance mechanisms to provide financial protection to families and businesses impacted by natural hazards.
    4. Institutional and legislative strengthening: A US$ 2.5 million initiative is advancing legal and institutional frameworks to enhance coordination and capacity-building for DRR.

    Key impacts

    • Mainstreaming DRR into development planning: Tunisia embedded DRR into its national ecological transformation strategy, elevating resilience as a cross-cutting development priority and aligning it with climate action goals.
    • Mobilizing high-level political and financial support: The integration of DRR into national development planning helped mobilize US$ 125 million in external funding for the implementation of the Comprehensive Programme for Disaster Risk Management and Resilience (2021-2027) .
    • Fostering whole-of-government collaboration: The inclusive development process ensured inter-ministerial cooperation, securing buy-in from all sectors and levels of government.
    • Strengthening financial governance for DRR: A newly established Resilience Unit within the Ministry of Finance has improved the mobilization and management of financial resources for resilience. Legislative updates have empowered local authorities with greater roles in disaster risk management.
    • Leveraging a joint UN approach and international partnerships: Collaboration between UNDRR, UNDP and international partners has enabled the use of global expertise and cost-sharing to support local resilience-building efforts.

    Lessons learned for replication or adaptation

    1. Structured DRR strategies attract investment: Tunisia’s US$ 125 million funding success illustrates how well-crafted DRR strategies can unlock substantial international support when integrated into broader development frameworks.
    2. Participatory approaches ensure relevance and sustainability: Inclusive, multi-stakeholder consultation processes enhance the effectiveness of national strategies, ensure local ownership and address the needs of vulnerable groups.
    3. Policy coherence enhances impact: Linking DRR strategies with climate change, biodiversity, and post-COVID recovery policies creates a more resilient and adaptable framework for managing current and emerging risks.
    4. Financial protection reduces economic vulnerability: Tunisia’s disaster risk insurance initiative underscores the value of pre-arranged financial mechanisms to buffer families and businesses against disaster-related economic shocks.

    Institutional innovation supports resilience financing: Creating dedicated resilience units within ministries-such as Tunisia’s Resilience Unit in the Ministry of Finance-helps integrate DRR into national budgeting and development planning. Tailoring governance mechanisms to local needs also empowers municipalities to play a proactive role in DRR.

    MIL OSI United Nations News –

    May 31, 2025
  • MIL-OSI USA: What to Expect When You Apply for FEMA Assistance

    Source: US Federal Emergency Management Agency

    Headline: What to Expect When You Apply for FEMA Assistance

    What to Expect When You Apply for FEMA Assistance

    OKLAHOMA CITY – If you live in Cleveland, Creek, Lincoln, Logan, Oklahoma, Pawnee, and Payne counties and were affected by the wildfires and straight-line winds that occurred March 14-21, 2025, you may be eligible for FEMA assistance

    How To Apply for FEMA AssistanceApply online at www

    DisasterAssistance

    gov

    Download the FEMA App for mobile devices

    Visit one of the state-led, FEMA supported, community sites

    Call the FEMA helpline at 800-621-3362 between 6 a

    m

    and 10 p

    m

    CT

    Help is available in most languages

    If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA your number for that service

    To view an accessible video about how to apply visit: Three Ways to Register for FEMA Disaster Assistance – YouTube

    When you apply for assistance, have this information readily available:If insured, the policy number or the agent and/or the company name

    A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security number, if available

    A general list of damage and losses

    Banking information for direct deposit if available

    Remember to keep receipts from all purchases related to cleanup and repair

     Within 10 days after registering, a FEMA Inspector will contact you to schedule an appointment

    To be prepared for the visit, please have the following documents available to support the inspection:Driver’s License (State ID) for applicant and co-applicant

    Proof of Ownership and Occupancy

    Receipts of any items purchased prior to inspection

    Pictures of any damages that may now be repaired or cleared off the property

    During the appointment, FEMA inspectors will:Wear official FEMA ID badges

    Confirm your disaster registration number

    Review structural and personal property damages

    FEMA inspectors will not:Determine eligibility

    Take any money or ask for credit card information

    Take the place of an insurance inspection

    Make sure to keep your scheduled appointment

    Appointments will take 10-20 minutes and you or someone you choose to represent you must be present

    Contact your insurance agent if you have insurance

    Within 10 days after the inspector’s visit, you will be sent a decision letter

    If eligible for assistance, you will receive an electronic funds transfer

    A follow-up letter will explain how the money can be used

     For an accessible video on FEMA home inspections, go to FEMA Accessible: Home Inspections

    Your Determination LetterYou will receive a letter from FEMA either by mail or email, based on the preference you indicated when you applied

    The letter will explain whether FEMA has found you eligible for assistance, how much, and how the assistance must be used

    If your letter says your application cannot be approved, it does not mean you’re denied

     The letter will explain how to appeal the decision if you do not agree with it

    For an overview of the appeal process, visit How Do I Appeal the Final Decision? | FEMA

    gov

    Digital DisbursementFEMA understands that everyone may not have an active bank account

    In order to provide additional options for survivors, FEMA is partnering with the U

    S

    Treasury to provide new options for survivors to receive their disaster assistance money through digital payments

    Eligible survivors will be able to receive their assistance funds through the following payment methods: A direct deposit into their bank accountA credit to their Visa or Mastercard debit cardA U

    S

    Debit Card they use to receive other federal benefitsAn electronic check sent to a pre-paid debit cardPayPal AccountDigital payments can provide money to eligible survivors on the same day in most cases

     FEMA and the U

    S

    Treasury will continue partnering with the private sector to add new ways for survivors to receive digital payments that comply with federal privacy, security and financial standards

     For more information, visit https://www

    fema

    gov/disaster/4866

    Follow FEMA Region 6 on social media at x

    com/FEMARegion6 and at facebook

    com/FEMARegion6/
    thomas

    wise
    Fri, 05/30/2025 – 13:22

    MIL OSI USA News –

    May 31, 2025
  • MIL-OSI Africa: Curtain falls on African Development Bank Group 2025 Annual Meetings, New President Elected

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, May 30, 2025/APO Group/ —

    • Nigeria provides $500 million to extend the Nigeria Trust Fund for another 15 years 
    • “It has been the greatest honour of my life to serve as president of the African Development Bank Group and to serve Africa “– Dr. Akinwumi Adesina 

    The African Development Bank Group’s 2025 Annual Meetings (www.AfDB.org) closed on Friday with a plenary session, following five days of meetings and discussions on Africa’s development landscape. The meetings also saw the election of a new president for a five-year term, beginning 1 September.  

    On Thursday, governors of the Group’s 81 shareholders elected former finance minister Mauritanian Sidi Ould Tah as the new president of the continent’s premier development institution. 

    The meetings were held in Abidjan, Côte d’Ivoire from 26-30 May under the theme: Making Africa’s Capital Work Better for Africa’s Development—a call for leaders to ditch aid and look inwards to Africa’s rich capital to solve its development and economic challenges. 

    Secretary General of the Bank Vincent Nmehielle described the meetings as a “resounding success”. He thanked Nialé Kaba, Minister of Economy, Planning and Development, outgoing Chairperson of the Boards of Governors, for her “sterling work, dedication and guidance of her duties over the past year.” He also thanked the 81 governors—finance ministers, economy ministers or central bank governors representing each of the African Development Bank’s shareholder countries. 

    Thirteen outgoing executive directors who have finished their term of office were recognized. Together, they represent a 75 percent change in the board composition for the next year. 

    Outgoing President Dr. Akinwumi Adesina expressed his best wishes to the president-elect. 

    “I am delighted for my brother and friend on his election as president of the African Development Bank Group. Hearty congratulations! I wish you great success in the years ahead,” Adesina said.  

    Participants also heard video congratulatory messages to Adesina from world leaders, including World Bank head Ajay Banga and Ngozi Okonjo-Iweala, director general of the World Trade Organization. 

    The Board of Governors also sent a congratulatory message conveyed through the Bank governor for Zambia, Situmbeko Musokotwan, Minister of Finance and National Planning. “We thank you for the remarkable results,” he said. 

    The meetings also saw new milestones for the Bank. 

    On Thursday, the Bank signed an agreement with the Finance ministry of Nigeria to extend the Nigeria Trust Fund (https://apo-opa.co/4ko9r9u)—for another 15 years. Nigeria provided an additional $500 million to the Nigeria Trust Fund. “An impressive contribution. Thank you, Nigeria,” Adesina said. 

    The Nigeria Trust Fund, the third arm of the Bank Group, is a self-sustaining revolving fund set up to assist the development efforts of the Bank’s low-income regional member countries whose economic and social conditions and prospects require concessional financing. Its resources are allocated to projects, not to countries. 

    “I am glad this agreement was signed a day before the end of the meetings,” Adesina said. 

    In an emotional farewell, Adesina sang a few of his favorite songs—Johnny Nash’s “I can see clearly now,” and Bob Geldof’s “We are the World.” 

    “This is my last Annual Meetings as president of the African Development Bank Group, after completing two five-year terms,” Adesina said. “It has been an extraordinary ten years working together… Thank you for the opportunity, trust and resources you gave me to serve as President of the African Development Bank Group. It has been the greatest honour of my life to serve as President of the African Development Bank Group and to serve Africa.”  

    In a short ceremony Kaba, handed the African Development Bank’s flag to Congolese Economy minister Ludovic Ngatse and announced that the 2026 Annual Meetings of the Bank Group will take place in Congo Brazzaville from 25-29 May 2026. 

    Speaking on behalf of Ivorian Prime Minister Robert Beugre, Kaba also thanked all participants “for contributing to the strategic reflection and solidarity with a view to steering our continent to a better future. and Cote d’Ivoire, the host country.” 

    In addition to the official programme, 60 side events as well as cultural events and a spouse’s programme were part of this year’s colourful meetings. 

    To review sessions you missed or for any information on the Annual Meetings, click here (https://apo-opa.co/43T3MlS). 

    MIL OSI Africa –

    May 31, 2025
  • MIL-OSI Africa: Libya becomes a full participating state and shareholder of Afreximbank

    Source: Africa Press Organisation – English (2) – Report:

    CAIRO, Egypt, May 30, 2025/APO Group/ —

    The State of Libya has taken a critical step towards its full membership of African Export-Import Bank (Afreximbank) (www.Afreximbank.com) with the acquisition of shares in the African multilateral Bank, making the country both a participating state and a shareholder of the Bank. The country submitted its payment for the acquisition of the Bank’s shares on 13 May 2025.  

    Libya acceded to Afreximbank’s Establishment Agreement in October 2024, becoming the 52nd African nation to do so, and marking an important step towards full continental coverage and advancement of the Bank’s continental integration agenda; through trade and investments. 

    The acquisition of Afreximbank’s shares by Libya further strengthens ties with the oil rich nation and enhances critical support to the Libyan economy. Target areas of intervention by Afreximbank include infrastructure and oil and gas, and export of manufactured goods to the rest of Africa, while also supporting regional integration projects targeting other countries in North Africa. 

    “Libya’s shareholding in Afreximbank puts the Bank in a strong position to support the government’s reconstruction efforts while also helping to deepen its regional connectivity through investments in critical projects such as the oil pipeline and road projects between Egypt and Libya, and the electricity transmission and linkage project covering Libya, Tunisia, and Algeria. It reaffirms the confidence of African governments in their Pan-African Multilateral Financial Institution,” said Prof. Benedict Oramah, President and Chairman of the Board of Directors, of Afreximbank.  

    Prof. Oramah commended Libya for its investment in the Bank which demonstrates increased confidence in the organisation’s activities, primarily its mandate of transforming African Trade. He noted that the shareholding in the Bank will help to expand its services, reach and influence in the region, besides enhancing its capital base.  

    In acceding to the Establishment Agreement, His Excellency Dr. Khaled Al-Mabrouk Abdullah, Minister of Finance for the State of Libya, highlighted the importance of the partnership in supporting reconstruction and economic diversification efforts in his country and said that the nation’s accession was a milestone in its journey towards rebuilding its economy and re-establishing its role as a regional trading hub. He said: “Libya is grateful to His Excellency, Prof. Benedict Oramah, President and Chairman of the Board of Directors, of Afreximbank, for his persistent efforts in facilitating Libya’s full participation in the Bank’s foundational agreement. The acquisition of shares in Afreximbank solidifies Libya’s position as a full member state and shareholder in this esteemed multilateral African institution. This represents a historic achievement, following our accession to the Bank’s Establishment Agreement in October 2024. 

    “We regard this development as a critical step forward in Libya’s journey towards greater economic integration within the African continent. Our accession as the 52nd African nation to Afreximbank underscores our commitment to fostering robust trade and investment relationships across Africa.” 

    Dr. Abdullah noted that the partnership between Libya and Afreximbank would help unlock new avenues for economic growth, diversification, and development in his country. “We eagerly anticipate leveraging the Bank’s expertise and resources to support our national economic agenda and to contribute effectively to the advancement of intra-African trade and continental integration. We commend Afreximbank for its unwavering commitment to African economic advancement and look forward to a fruitful and mutually beneficial collaboration,” he added.  

    MIL OSI Africa –

    May 31, 2025
  • MIL-OSI Africa: In the Democratic Republic of Congo (DRC), the African Development Bank is accelerating the transformation of infrastructure and access to basic social services

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, May 30, 2025/APO Group/ —

    Roads in Kenge, Kikwit, Tshikapa, Kamuensha, and Mbuji-Mayi have been completely rehabilitated, new stretches of road built, and urban roads modernized. Numerous examples of socioeconomic infrastructure have also benefited from the financial support of the African Development Bank Group (www.AfDB.org), helping to transform the daily lives of hundreds of thousands of Congolese.

    A multi-sectoral mission from the government of the Democratic Republic of Congo (DRC) and the African Development Bank witnessed the impact of these investments during field visits to the five municipalities in western DRC between 5 and 19 May 2025. More specifically, the three projects, financed by the Bank, focus on rehabilitating road infrastructure, enhancing air safety, and improving access to basic social services.

    Health centres, hydraulic structures equipped with modern technology, provincial rural markets, schools, a refurbished runway in Mbuji-Mayi, and air safety equipment meeting international standards are just some of the successes the joint mission was able to witness.

    “The mission measured the concrete impact of the projects supported by the Bank in Kasai. From roads to social infrastructure and air safety, progress is visible and is transforming the lives of the population. We pay tribute to the work completed and remain committed to consolidating the gains achieved, in particular with the extension of the Mbuji-Mayi runway to make it a hub that meets international standards,” commented Mohamed Coulibaly, Country Programme Manager in charge of the Bank Group’s Office in the Democratic Republic of Congo.

    Opening a key route in the road network

    The first stage of the mission concerned the project to rehabilitate the Kinshasa/Ndjili-Batshamba section of national road no. 1. The project involves the rehabilitation of 622 kilometres of road between Kinshasa and Batshamba via Kenge and Kikwit, a key route in the Congolese road network. In the past, this strategic corridor was virtually impassable due to the advanced deterioration of the road surface and a series of sinkholes, and took several days or in some cases weeks, to drive along. Thanks to $68.57 million in funding from the African Development Bank, the work carried out now means the route can be travelled safely in less than a day. This improves connectivity between the capital and the provinces of Mai-Ndombe, Kwango, Kwilu and Kasaï.

    “In addition to asphalting the road, the Bank has financed the construction and equipping of schools, health centres, boreholes, rural markets, social reintegration centres, administrative buildings, a modern market and weigh stations along the route, as well as the rehabilitation of over 700 kilometres of rural roads,” explains Jean Luemba, the RN1 project coordinator. The Bank has also provided substantial logistical support (vehicles and IT equipment) to the state structures involved in the projects.

    Ultimately, this initiative will benefit over 19 million people by facilitating access to markets, improving the availability of agricultural products and food security, and supporting mobility and economic activities.

    Significant progress in social infrastructure

    In terms of social infrastructure, the achievements of the second phase of the Project for the Reinforcement of Socioeconomic Infrastructure in the Central Region (PRISE II) are significant: most of the construction work on schools, health centres, public latrines, and rural markets has been completed or is nearing completion. The execution rate is estimated at 75%. As for the 41 schools under construction, most are ready for handover. The same applies to the 40 health centres, whose buildings have been completed. Public markets are also making good progress, with several structures already operational.

    In addition, the project has planned community awareness-raising and vocational training activities, including training young people in plumbing, promoting hygiene and local water governance. During the joint mission, the national authorities reiterated their willingness to broaden the scope of the “PRISE” project by integrating geophysical studies into the Drinking Water Supply and Sanitation Programme, thus supporting the national ambition of universal coverage in this area. The project’s aim is to reach over 870,000 direct beneficiaries in 10 provinces, by improving access rates to water, sanitation, health and education.

    Advanced airport infrastructure

    In the air transport sector, a visit to the second phase of the Priority Air Safety Project (PPSA2) revealed remarkable progress in the rehabilitation and extension of the Mbuji-Mayi runway. Around 85% of the 320-metre runway has already been completed. The new tarmac is 95% complete, while the ramp, service road and runway end safety areas (RESA) are 70 to 75% complete. Vital technical infrastructure such as the control tower, power plant, fire station, and lighting system are nearing completion. At Kisangani-Bangoka international airport, the aircraft movement areas, taxiways and tarmac have been completely rehabilitated, and two turn pads have been installed.

    In addition, six radio navigation systems (DVOR/DME) have been deployed at Goma, Mbuji-Mayi, Kindu, Kinshasa, Lubumbashi, and Mbandaka, enhancing the safety of domestic flights. Eight VHF radio channels have also been installed at several secondary airports to improve aeronautical communication. The upgrading of equipment, combined with capacity-building for technical staff, has reduced the number of air accidents in the DRC from an average of 10 to one a year.

    The project also includes training for the Régie des voies aériennes staff in the following areas: safety and air bases, maintenance techniques and project management for the Régie, and air transport inspectors for the Civil Aviation Authority.

    At the end of the visit, the mission underlined the technical quality of the work carried out, the commitment of the contractors and local ownership. In Tshikapa, a local resident declared: “Tshikapa today is the African Development Bank!”, testifying to the visibility and tangible impact of the projects on the daily lives of the local population.

    These results also illustrate the importance of close coordination between the Bank, the Congolese government and technical and financial partners, including the European Union and the World Bank, which were also involved in the construction of certain sections of the RN1.

    MIL OSI Africa –

    May 31, 2025
  • MIL-OSI United Nations: Central America and Dominican Republic: Regional Intergovernmental Organizations strengthen national disaster risk reduction financing strategies

    Source: UNISDR Disaster Risk Reduction

    The United Nations Office for Disaster Risk Reduction (UNDRR) has collaborated with the Coordination Centre for the Prevention of Natural Disasters in Central America (CEPREDENAC) and the Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN) to enhance disaster risk reduction (DRR) financing across Central America and the Dominican Republic. This partnership marks the region’s initial steps towards establishing a comprehensive regional DRR financing strategy.

    In partnership with the World Bank, UNDRR convened a ministerial meeting that brought together high-level representatives from CEPREDENAC and COSEFIN. At this meeting, the two regional entities issued a joint declaration, committing to work with their Member States to improve financing for DRR.

    Ministers of Finance and DRR authorities reaffirmed their “regional commitment to promote resilient and sustainable public investment, ensuring alignment with regional DRR guidelines and the search for innovative and sustainable financing mechanisms.” This led to the establishment of a technical support group-comprising CEPREDENAC, COSEFIN, the World Bank, and UNDRR-tasked with developing a regional DRR financing strategy designed to complement and strengthen existing national strategies.

    By shaping regional policy and encouraging intergovernmental collaboration, UNDRR and its partners have generated momentum for innovative financing approaches to resilience, thus contributing to enhanced protection for communities throughout the region. The Minister of Finance of Costa Rica, Mr. Nogui Acosta, remarked, “The impacts on one country affect all others, so we should address these issues at a regional level.” He further emphasized the importance of prospective planning and tailored budgetary approaches to facilitate efficient resource use and risk reduction at national level.

    Key Impacts

    • Strengthening national-regional alignment: The regional commitment – spearheaded by CEPREDENAC, COSEFIN and UNDRR, provides a framework for national governments to align their DRR financing mechanisms with regional guidelines, promoting consistency and coherence across DRR investment strategies.
    • Influencing policy and mobilizing resources: By involving Ministries of Finance alongside DRR authorities, the initiative strengthens the integration of DRR into national public investment planning and budgeting, a cornerstone of effective DRR governance.
    • Supporting national DRR implementation: The emerging regional DRR financing strategy is intended to bolster national DRR strategies, facilitating implementation of commitments under the Sendai Framework, particularly Priority 2 (strengthening disaster risk governance) and Priority 3 (investing in DRR).
    • Enhancing institutional coordination and technical support: The technical support group, involving regional IGOs and global partners, fosters multi-level institutional collaboration and provides sustained technical assistance to national DRR governance structures.
    • Promoting whole-of-government approaches: By framing DRR financing as a cross-sectoral issue of fiscal governance, the initiative integrates DRR into broader national development planning and central government portfolios, thereby encouraging broader institutional engagement and implementation.
    • Elevating DRR financing as a regional-to-local priority: This initiative represents a shift from reactive disaster response to systemic, finance-driven disaster risk governance, highlighting the need for dedicated financing pathways and institutional collaboration across sectors and all levels of government.

    Lessons learned for replication and adaptation

    1. Integrate DRR into national financial planning: Engaging both DRR authorities and Ministries of Finance ensures that DRR is embedded in national budgeting and public investment systems, moving beyond siloed emergency responses.
    2. Leverage regional IGOs to reinforce national action: Regional bodies can catalyse national commitments by promoting shared policy frameworks and facilitating peer learning. In some contexts, their influence may be strengthened through legally binding DRR frameworks (e.g. ASEAN).
    3. Formalize political commitments: Ministerial declarations and joint statements can solidify intent, mandate follow-up actions and foster political momentum for sustained DRR engagement.
    4. Establish technical support mechanisms: Creating regional working groups that include global partners facilitates continuous follow-up and helps countries translate commitments into actionable strategies.
    5. Align with existing frameworks to enhance ownership: Building on national and regional DRR strategies avoids duplication, increases relevance, and supports long-term sustainability and legitimacy.

    MIL OSI United Nations News –

    May 31, 2025
  • MIL-OSI United Kingdom: Road closures – Race for Life – Inverness

    Source: Scotland – Highland Council

    A number of roads will be closed in Inverness this weekend due to the Race for Life 5K and 10K events.

    The roads order will apply on Sunday 1 June 2025 between 08:00 and 13:30. The restrictions are necessary to ensure the safety of participants in Cancer Research UK’s events.

    Vehicles will not be permitted on the following roads between the above times:

    U3823 Bught Road, Inverness, between its junction with the U3821 Bught Avenue and its junction with the U4158 Ness Walk Upper.

    U4158 Ness Walk Upper, Inverness, between its junction with the U3823 Bught Road and its junction with the U3788 Ballifeary Lane.

    U4158 Ness Walk Upper, Inverness, between its junction with the U3788 Ballifeary Lane and its junction with the U3813 Bishop’s Road.

    U4624 Ardross Terrace, Inverness, between its junction with the U4624 Ness Walk and its junction with the U4624 Ardross Street.

    U4624 Ness Walk, Inverness, closed between its junction with Young Street (forming part of the 8861 Inverness – Leys – lnverarnie Road) and its junction with the U4624 Ardross Terrace.

    Castle Road (forming part of the 8862 Fort Augustus – Whitebridge – Torness – Dares – Inverness Road), Inverness, between its junction with Haugh Road (8862) and its junction with Bridge Street (8861). Access for southbound traffic will be maintained.

    C1201 Ness Bank and Gavell Gardens Road, Inverness, closed to through traffic between its junction with Castle Road (8862) and its junction with Island Bank Road (8862).

    MIL OSI United Kingdom –

    May 31, 2025
  • MIL-OSI United Kingdom: Government completes exit from NatWest

    Source: United Kingdom – Executive Government & Departments

    Press release

    Government completes exit from NatWest

    Final share sale ends nearly 17 years of public ownership

    • Final share sale ends nearly 17 years of public ownership 
    • Millions of savers and businesses protected during the financial crisis 
    • Taxpayers prioritised through value-for-money sales at market price since this government came to office

    The government has sold its remaining shares in NatWest Group (formerly Royal Bank of Scotland, RBS) — ending public ownership that began when it stepped in to protect millions of savers and businesses during the financial crisis.

    That intervention prevented the UK economy and financial system from going over the edge – protecting millions of savers, businesses and jobs.  

    Over 2008 and 2009, the government provided £45.5 billion to stabilise RBS (now NatWest), which at the time was one of the largest banks in the world- with over 40 million customers and operations in more than 50 countries. 

    Chancellor of the Exchequer, Rachel Reeves, said: 

    Nearly two decades ago, the then Government stepped in to protect millions of savers and businesses from the consequences of the collapse of RBS. That was the right decision then to secure the economy and NatWest’s return to private ownership turns the page on a significant chapter in this country’s history. We protected the economy in a time of crisis nearly seventeen years ago, now we are focused on securing Britain’s future in a new era of global change.

    Economic Secretary to the Treasury, Emma Reynolds said: 

    Bringing NatWest fully back into private ownership marks a significant milestone for the UK banking sector following the financial crisis.  

    Since coming into government, we have halted the NatWest retail share sale, which could have cost taxpayers hundreds of millions. Instead, we put taxpayers first by only selling NatWest shares at market value— securing more money to invest in vital public services.

    To date, £35 billion has been returned to the Exchequer through share sales, dividends and fees. While this is around £10.5 billion less than the original support, the alternative would have been a collapse with far greater economic costs and social consequences.

    The Office for Budget Responsibility are clear on this point: the cost of doing nothing would almost certainly have been far greater than the difference between the capital injected and proceeds returned.  

    Allowing the bank to fail would have devastated people’s savings, mortgages and livelihoods — and shattered confidence in the UK’s financial system. 

    Since taking office in 2024, the government has prioritised securing value for taxpayers — scrapping plans for a retail sale that could have cost hundreds of millions of pounds due to the need to sell shares at a discounted price to attract retail buyers. 

    Instead, shares were sold only at market price and when it represented value for money  — helping fund the Plan for Change to invest in the NHS, education and defence. 

    The government has now exited all banking sector interventions made during the financial crisis.

    Notes to editors

    • Shares were sold through three accelerated bookbuilds in 2015 (£2.1bn), 2018 (£2.5bn), 2021 (£1.1bn), five directed buybacks of shares by NatWest in March 2021 (£1.1bn), March 2022 (£1.2bn), May 2023 (£1.3bn), May 2024 (£1.2bn), and November 2024 (£1bn), and a trading plan from 2021–2025
    • The final shares were sold through the trading plan on 30 May 2025. In total, the trading plan generated over £13.2bn in proceeds from sales of NatWest shares
    • Peak government stake in RBS was 84.4%
    • A retail sale, proposed under the previous government, was cancelled in 2024 due to the additional costs to taxpayers, estimated in the hundreds of millions
    • UK Government Investments (UKGI), who managed the shareholding on behalf of HMT, ensured all sales delivered value for money
    • Explainer of total amount received by government in relation to NatWest shareholding:
    Type Amount (£bn) Comments
    Sale proceeds 24.77 Total combined proceeds from sales of the shareholding between 2015 and 2025.
    Dividends 4.91 Total combined dividends received since the bank recommenced dividend payments in 2018.
    Dividend Access Share 1.51 Combined value of payments made to retire the DAS, which provided enhanced dividend rights to HMT following the provision of capital support to RBS. The DAS was retired in 2016.
    Asset Protection Scheme fees 2.50 Fees paid by RBS in exchange for its participation in the APS, which protected against exceptional credit losses on certain portfolios of assets. RBS exited the APS in 2012.
    Contingent Capital Facility fees 1.28 Fees paid in return for the provision of an £8bn CCF to RBS by HMT in 2009. The CCF was terminated in 2013.
    Total £34.98  
    *Numbers may not sum due to rounding    

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    Updates to this page

    Published 30 May 2025

    MIL OSI United Kingdom –

    May 31, 2025
  • MIL-OSI: Atlantic Petroleum – Condensed Consolidated Interim Report – 1st Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    Tórshavn, Faroe Islands, 2025-05-30 (GLOBE NEWSWIRE) — P/F Atlantic Petroleum (NASDAQ Copenhagen: ATLA DKK) today posts its 1st quarter results for 2025. This announcement should be read in conjunction with Atlantic Petroleum’s Condensed Consolidated Interim Report, which is released separately and posted on the Company’s website.

    Highlights for Q1 2025:

    G&A cost was DKK -0.3MM
    Operating loss was DKK 2.5MM
    Net loss was DKK 2.3MM
    Net assets/share-holders equity was DKK -115.1MM
    Bank debt was DKK 59.4MM

    Mark T. Højgaard, CEO commented:

    Atlantic Petroleum reached an agreement on the 4th April 2025 with its main creditors to reduce the Company’s debt. The total debt will be reduced by at least DKK 90MM. However, the debt restructuring is not finalized. The Directors now expect that finalization of the agreed upon framework will be in place 3rd Quarter 2025.

    The ability of the Group to continue as a going concern is dependent on the finalization of the debt restructuring, and the cash flows generated from the interest in the Orlando field.

    Atlantic Petroleum in brief:

    Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company currently has subsidiaries and offices in the UK. Atlantic Petroleum’s shares are listed on NASDAQ OMX Copenhagen.

    Further Details:

    Further details can be obtained from Mark T. Højgaard, (markh@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company’s website: www.petroleum.fo.

    Announcement no.: 7/2025

    Issued: 30-05-2025

    P/F Atlantic Petroleum
    Lucas Debesargøta 8
    P.O.Box 1228
    FO-110 Torshavn
    Faroe Islands

    Website: www.petroleum.fo

    Attachment

    • 1Q 2025 Cond Cons Interim Report 31-03-2025

    The MIL Network –

    May 31, 2025
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