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Category: Banking

  • MIL-OSI Asia-Pac: NATIONAL PROGRAMME FOR DAIRY DEVELOPMENT

    Source: Government of India (2)

    Posted On: 19 MAR 2025 2:10PM by PIB Delhi

    Department of Animal Husbandry & Dairying (DAHD) is implementing “National Programme for Dairy Development (NPDD)”scheme across the country since Feb-2014. The scheme has been restructured/ realigned in July 2021 for implementation from 2021-22 to 2025-26 with the following two components:

    (i)   The Component ”A” of NPDD focuses on creating/strengthening of infrastructure for quality milk testing equipment as well as primary chilling facilities for State Cooperative Dairy Federations/ District Cooperative Milk Producers’ Union/SHGs/Milk Producer Companies/Farmer Producer Organizations.

    (ii) The Component ‘B’ of the NPDD scheme “Dairying through Cooperatives” aims to increase sale of milk and dairy products by increasing farmer’s access to organized market, upgrading dairy processing facilities and marketing infrastructure and enhancing the capacity of producer owned institutions.

    Under Component A of NPDD scheme, 110 projects have been approved across the country including Tamil Nadu  with the total outlay of Rs.2247.46 crore. (including Central Share of Rs.1658.29 crore) and under Component B of NPDD scheme, 22 projects have been approved with a total project cost of Rs.1130.62 crore (including Loan amount of Rs.705.53 crore, Grant of Rs.329.70 crore & participating institution (PI) contribution of Rs.93.38 crore) during last five years (2019-20 to 2023-24). Out of the total 132 projects approved under the scheme, 52 have been completed. In Tamilnadu, 4 projects have been approved with the total outlay of Rs.177.61 crore. (including Central Share of Rs.133.42 crore) during last five years (2019-20 to 2023-24). Out of these 4 projects, 2 have been completed under NPDD scheme.

    Total 16041 dairy cooperative societies have been organised & 15.31 lakh farmers/milk producers have been enrolled under NPDD scheme during last five years (2019-20 to 2023-24). Tamilnadu Cooperative Milk Producers Federation Limited (TCMPFL) has informed that total 3.79 lakh farmers belonging to 9235 cooperative societies in Tamil Nadu have benefitted by getting remunerative price for their produce and the scheme made producers to supply their milk with easy access.

    Dairy Plant Capacity of 1.82 Lakh litre per day (LLPD) has been enhanced under NPDD scheme during last three year (2021-22 to 2023-24). In addition, TCMPFL has informed that milk processing plant and value added product capacity created other than NPDD scheme in the State of Tamil Nadu is as under:

    Sr. No.

    Scheme/Funding

    Activity created

    1.

    Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME)

    Milk processing plant of capacity 2.00 lakh litre per day

    2.

    National Agriculture Development Programme (NADP).

    Paneer Plant of capacity 2000 Kilogram per day at Coimbatore

    3

    TCMPFL Fund

    Ice Cream Plant of capacity 30,000 litre per day at Coimbatore at Madurai

    4.

    National Bank for Agriculture and Rural Development (NABARD)

    Production capacity of Butter, Ghee & Paneer with capacity of 5000 Kilogram per day, 2000 litre per day & 1000 Kilogram per day respectively at Virudhunagar District Milk Union.

    5.

    Milk Union Fund

    Curd plant of capacity 10,000 Litre per day Kanchipuram-Tiruvallur District Milk Union

      

    Under Comp B of NPDD, Japan International Cooperation Agency (JICA) assisted programme, loan has been provided with subsidized rate of interest @1.50% for the eligible institutions for creations of dairy infrastructure in the interest of  farmers and cooperative societies.

    This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Prof. S.P. Singh Baghel, in a written reply in Rajya Sabha on 19th March, 2025.

    *****

    AA

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ21: Promoting development of Hong Kong’s capital market

    Source: Hong Kong Government special administrative region

    LCQ21: Promoting development of Hong Kong’s capital market 
    Question:
     
         Recently, six departments of the Central Authorities jointly announced the Implementation Plan on Promoting the Inflow of Medium to Long-term Capital into the Market, so as to steadily expand the scale of investment and improve the supply and structure of funds in the capital market. Moreover, it has been reported that as pointed out by the Governor of the People’s Bank of China, the proportion of the country’s foreign exchange reserves allocated to Hong Kong’s assets will be substantially increased to support the development of Hong Kong’s capital market. In this connection, will the Government inform this Council:
     
    (1) whether the Government has discussed with the relevant Mainland authorities the specific details (such as the target level of the allocation proportion, the types of assets to be allocated and the amount involved) and the implementation timetable for increasing the allocation of the country’s foreign exchange reserves to Hong Kong’s assets; if so, of the details; if not, the reasons for that;
     
    (2) whether the Government will study with the Mainland regulatory authorities the establishment of a mechanism for channelling capital, so as to promote the investment of the country’s foreign exchange reserves and some of the Mainland medium to long-term capital (such as the National Social Security Fund, commercial insurance funds and pension funds) in Hong Kong’s capital market;
     
    (3) whether the Government will actively consider making good use of the funds under its control, such as charitable trust funds, university endowment funds and funds managed by different government departments, to jointly increase investment in Hong Kong stocks, so as to play a leading role and boost market confidence; if so, of the details; if not, the reasons for that; and
     
    (4) as it has been reported that the Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (SAR) has recently proposed to promote the publication of a White Paper on Hong Kong’s Capital Market (the White Paper), whether the SAR Government will implement the formulation of the White Paper; if so, whether it will study collecting various financial institutions’ views in areas such as market regulation, transaction costs and corporate governance?
     
    Reply:
     
    President,
     
         In consultation with the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX), my consolidated reply to the four parts of the question is as follows:
     
         During his remarks at the Asian Financial Forum in January 2025, the Governor of the People’s Bank of China said that a thriving capital market serves as the core and backbone of Hong Kong as an international financial centre. It will encourage quality enterprises to get listed and issue bonds in Hong Kong, and continuously enhance and expand the connectivity mechanisms between the Mainland and Hong Kong for stocks, bonds, wealth management products and interest rate swaps. It will also deepen the financial co-operation within the Guangdong-Hong Kong-Macao Greater Bay Area, and increase the allocation of our country’s foreign exchange reserves in assets in Hong Kong, so that the financial development in Hong Kong will embrace a broader future. The Hong Kong Special Administrative Region Government and financial regulators will continue to co-ordinate closely with relevant Mainland authorities as always to support the integration and healthy development of the Mainland and Hong Kong capital markets. We will also discuss with the Mainland further expansion and enhancement arrangements for mutual market access between capital markets of the two places, so as to better meet the needs of residents in both places for cross-market and diversified asset allocation, as well as attract more Mainland and international fund flows into Hong Kong.
     
         The Government very much welcomes and is grateful to the increase in allocation of the national foreign exchange reserves in assets in Hong Kong, which is a recognition of Hong Kong’s investment environment and the quality of our products. The specific details (such as funding distribution or timetable) will be considered by relevant Mainland institutions and announced as necessary. The Government and financial regulators have been maintaining communication with the Mainland financial regulators on financial market matters and will fully support related work. In fact, we need to strengthen our efforts in optimising the market and utilising our own attractiveness to encourage more Mainland and overseas institutions and individual investors to participate in trading Hong Kong stocks. In the face of challenges from the external environment in the past few years, the Government has been striving to continuously improve market liquidity through taking forward specific enhancement measures. Specifically, the Government set up the Task Force on Enhancing Stock Market Liquidity in 2023 to review the factors affecting market liquidity and put forward improvement recommendations on different areas such as listing regime, market structure, trading mechanism, etc. The Government together with the SFC and HKEX have taken forward various measures, including enhancing the specialist technology listing regime, reforming GEM, facilitating listing of overseas issuers, implementing arrangements for trading under severe weather, establishing the regime for share repurchase and treasury, narrowing the trading spread, etc. We have also been actively attracting overseas capital through different channels, including consolidating traditional sources of funds and opening up new capital sources.
     
         As our country’s economy demonstrates resilience with breakthroughs in key technologies, and as the enhancement measures that we have implemented begin to bear fruit, the sentiment and trading in the Hong Kong stock market have improved since last year. From the beginning of this year, stock market trading has become even more active, with average daily turnover until February exceeding $220 billion, an increase of close to 70 per cent over that of 2024. Last year, Hong Kong was one of the world’s four largest initial public offering (IPO) markets, with total IPO funds raised exceeding $87 billion, up nearly 90 per cent year-on-year. As of the end of February this year, HKEX was processing over 100 listing applications, demonstrating increasing confidence of companies in raising funds in Hong Kong. HKEX and the SFC will continue their efforts in strengthening the competitiveness of the stock market by facilitating corporate financing, promoting product innovation, and improving trading and risk management efficiency.
     
         As regards investment of funds under the Government, funds established by the Government or operated by Government departments have specific purposes and management mechanisms. The relevant funds need to formulate appropriate investment strategies based on factors such as its size, overall risk tolerance, liquidity needs, etc, so as to achieve target returns, cash flow or specific policy objectives through different asset allocations. It is not appropriate to formulate uniform asset allocation recommendations or restrictions for the investment of relevant funds.
     
         The Government has been implementing various reforms for the development of the capital market, including establishing listing avenues for new economy and technology enterprises with weighted voting rights structures, facilitating overseas issuers to raise funds in Hong Kong, etc. As also mentioned in the 2025-26 Budget, the key to consolidating and enhancing the strengths of Hong Kong as an international financial centre lies in institutional innovation, product innovation, a critical mass of enterprises and financial connectivity. To dovetail with the latest economic trends and corporate needs, HKEX and the SFC are taking forward a comprehensive review of the listing regime, which will review listing requirements and post-listing ongoing obligations, evaluate listing-related regulations and arrangements to improve the vetting process, optimise the thresholds for dual primary listing and secondary listing, and review the market structure, including exploring the establishment of an over-the-counter trading market. HKEX and the SFC will conduct in-depth review in each area, with a view to putting forward enhancement proposals in different areas by batches when they are ready within this year for market consultation. Meanwhile, the Government will also collect market views through various channels from time to time, including the financial regulators and the Financial Services Development Council, so as to formulate relevant development strategies in a timely manner.
    Issued at HKT 15:15

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    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Ghana Bolsters Mining Sector Growth Through Local Content Participation

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

    CAPE TOWN, South Africa, March 19, 2025/APO Group/ —

    Ghana is ramping up efforts to enhance local content participation in the mining industry, aiming to maximize the beneficiation of its mineral resources. By supporting small-scale miners, promoting local procurement and ensuring international firms hire and train local staff, Ghana is catalyzing employment creation, revenue generation for local businesses and driving GDP growth through the expansion of the mining industry. 

    The upcoming Mining in Motion Summit, taking place from June 2-4 in Accra, will highlight the role of local mining entities in industry expansion, showcasing the collaboration between the government and international partners to accelerate economic growth through increased local participation. 

    Ghana’s commitment to local involvement is yielding substantial results, with the small-scale gold mining sector employing one million people, indirectly supporting 4.5 million more and generating over $5 billion (https://apo-opa.co/4hMUCLw) in export revenue in 2024 alone. 

    To further empower local players, the government has introduced key policy reforms and a series of financing and skills training programs. In January 2025, Ghana announced the establishment of the Gold Board (https://apo-opa.co/4bZaBop) – set to launch in March 2025 – which will consolidate gold output from small-scale and industrial mining projects for international exports. The initiative aims to streamline gold commercialization for small-scale miners while enabling them to secure funding through certificates of gold sales. 

    In August 2024, Ghana also unveiled plans for a Cooperative Mining Policy (https://apo-opa.co/4c1IncJ) designed to establish community mining cooperatives. The cooperatives will provide training, register miners and issue concessions, fostering job creation and formalizing the sector. 

    In parallel, the Environmental Protection Agency and the Ministry of Lands and Natural Resources secured World Bank funding in April 2024 to implement the Ghana Landscape Restoration and Small-Scale Mining Project (https://apo-opa.co/42dyXrf). The project seeks to enhance the formalization of small-scale mining operations through District Mining Committees. Furthermore, the Minerals and Mining (Local Content & Local Participation) Regulations, 2020, require international firms to procure Ghanaian goods and services in their operations, enhancing the participation of local firms in project development and maintenance. 

    With several large-scale projects underway, including Goldstone’s Homase Mine, Atlantic Lithium’s Ewoyaa Project, the Cardinal Namdini Gold Mine and Newmont’s Ahafo North Project, the policy continues to strengthen local content participation in Ghana’s mining sector. 

    Amidst these developments, the Mining in Motion Summit will serve as a platform for high-level discussions and networking, addressing key trends and advancements in local content development within Ghana’s mining industry. 

    Stay informed about the latest advancements, network with industry leaders and engage in critical discussions on key issues impacting ASGM and medium- to large-scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MininginMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org.

    MIL OSI Africa –

  • MIL-OSI Europe: The EBA launches call for papers for its 2025 Policy Research Workshop

    Source: European Banking Authority

    The European Banking Authority (EBA) today launched a call for papers in view of its 14th Policy Research Workshop taking place on 18-19 November 2025 and titled “Bridging capital and growth – the role of financial structures and intermediaries”. The deadline for submitting papers is 6 June 2025.

    The workshop aims to bring together economists and researchers from supervisory authorities and central banks, as well as leading academics, to discuss and explore policies that can ensure innovation in a context of competition and risk arbitrage, while ensuring financial stability.

    In preparation for the workshop, the EBA invites the submission of policy-oriented, preferably empirical, research papers on the following topics:

    • the impact of global capital flows on market efficiency and the role of financial intermediation;
    • access to finance by entrepreneurs ensuring that capital is used in the most productive ways;
    • provision of mechanisms for managing risk and how regulatory frameworks can contribute to the functioning  and stability of financial intermediaries;
    • incorporation of environmental, social, and governance (ESG) to support sustainable development and growth;
    • progress in digital finance initiatives and better alignment with regulation and policies.

    Interested parties can download here the detailed call for papers, which includes additional information on the proposed topics for the papers, composition of the programme committee and contact details for the submission of papers. The submission deadline is 6 June 2025.

    Contributors will be notified by mid-September 2025.

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB Global assists cities develop climate resilient urban projects in East Africa

    Source: European Investment Bank

    EIB

    The European Investment Bank (EIB Global) has availed over €1.2 million (over Ksh 166 million) in technical assistance support to cities in East Africa for preparation of climate resilient urban development projects.

    The cities set to benefit from this technical assistance are Kericho, Nyamira, Kisumu, Embu, Eldoret and Malindi in Kenya as well as Zanzibar in Tanzania and Makindye in Uganda.

    EIB Global’s support to cities is financed through the City Climate Finance Gap Fund – a multi-donor trust fund supported by Germany and Luxembourg and implemented jointly with the World Bank and in close partnership with German Development Cooperation (GIZ). The technical assistance program focuses on early-stage project preparation with an aim of facilitating access to finance for urban projects that would otherwise potentially remain at idea stage.

    Most of the support for the cities in the region will revolve around assessing options for managing solid waste and faecal sludge, waste to energy solutions through production of biogas and wastewater treatment. Preliminary proposed solutions have recommended integrated solid waste management plans that encompass segregation of waste at source, separation of waste  collections, waste recovery and proper disposal.

    Further technical assistance promotes active mobility through evaluating non-motorised transport options, implementing urban flood proofing measures to mitigate flood risks and enhancing environmental sustainability by establishment of green public parks as well as expansion of urban forestry and biodiversity.

    In Kenya, EIB Global’s support is geared towards helping the cities access further financing support from an ongoing infrastructure investment programme known as the Kenya Urban Support Programme II, upon completion of the Gap Fund technical assistance.

    EIB Vice President Thomas Ostros said, “Cities and local governments play a key role in fighting climate change because they experience its effects the most. However, they often struggle to develop climate-resilient infrastructure, mainly due to a lack of resources and expertise to create strong, investment-ready projects. Through its support for the Gap Fund, the EIB helps cities bridge these gaps and prepare effective climate projects.”

    Technical assistance for project preparation plays a vital role in facilitating the implementation and financing of climate action projects by availing bankable opportunities. This is particularly true at urban or sub-national level where local authorities sometimes do not have enough in-house capacity to prepare robust projects that can attract public and private finance providers at an international level.

    The European Investment Bank is very active in urban climate finance especially through the City Climate Finance Gap Fund. The Bank works with other partners to advise on projects that will place cities on a path to net zero.

    Background information

    About EIB Global

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.

    About City Climate Finance Gap Fund:

    Cities are key to creating a climate-smart future. Over half the global population lives in cities, generating 80% of total economic output and accounting for 70% of global CO2 emissions. While urbanization is a key driver of growth, unplanned, rapid urbanization and urban sprawl threaten to increase greenhouse gas emissions and vulnerability to climate change and other shocks. As many cities and local governments take steps to become low-carbon and climate-resilient, they face barriers in accessing finance as well as difficulties in planning and project preparation, due to insufficient capacity or resources — particularly in the early stages of the project cycle. The Gap Fund supports cities in addressing this specific challenges.

    On 20th September 2023, the governments of Germany and Luxembourg announced new funding of €50 million for the City Climate Finance Gap Fund (Gap Fund), a multi-donor fund, implemented by the World Bank and the European Investment Bank with partners. These resources will support the development of low-carbon and climate-resilient urban investments and will nearly than double the fund’s capitalization, bringing it to €105 million, one of the largest early-stage technical assistance funds for cities and climate.

    It provides much-needed funding for early-stage technical assistance and capacity building so that cities from low- and middle-income countries can operationalize their climate action plans, develop robust project concepts, and access climate finance resources. Since its establishment in 2020, EIB has supported 137 cities in developing and emerging economies through the Gap Fund.  

    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
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    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
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    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
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    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
    EIB Global Assists Cities Develop Climate Resilient Urban Projects in East Africa
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    MIL OSI Europe News –

  • MIL-OSI Europe: Austria: EIB supports hydropower expansion in Upper Austria

    Source: European Investment Bank

    • The EIB is providing €320 million in loans for the construction of the Ebensee pumped storage power plant.
    • Energie AG plans to invest more than €600 million to expand hydropower in Upper Austria, with a €400 million financing package for this objective approved by the EIB.

    The European Investment Bank (EIB) has granted Energie AG Oberösterreich in Upper Austria a financing package of up to €400 million to expand hydropower. Energie AG plans to invest a total of over €600 million in a new pumped storage power plant in Ebensee and a planned run-of-river hydropower plant in Roitham/Traunfall.

    The Ebensee pumped storage power plant will act as a green battery, compensating for fluctuations in the power generation from wind and solar plants and ensuring security of supply. Financing agreements for the Ebensee project encompassing €320 million were signed at EIB headquarters in Luxembourg.

    The Ebensee project is the single largest investment by Energie AG Oberösterreich to date, and is a milestone in the transformation of the energy supply in Upper Austria. An additional €80 million in financing for the Traunfall run-of-river power plant, intended to replace three hydropower plants at the end of their useful life, has also been given advance EIB approval. The relevant financing contracts are set to be signed in 2025, subject to the pending approval of the project by the Supervisory Board of Energie AG Oberösterreich. 

    “Rapidly expanding renewable energy is crucial for decarbonising the economy. The hydropower plants by Energie AG Oberösterreich are another important step on the road to a climate-neutral energy supply, and will help reduce Europe’s dependence on oil and gas imports,” said EIB Vice-President Thomas Östros.

    “Our strategy at Energie AG Oberösterreich has set a course for maximum carbon reduction throughout the entire company. All told, we will be investing €4 billion by 2035 to expand renewable energy and grids. We are also making major investments in green hydrogen production,” said Leonhard Schitter, Chair and CEO of Energie AG Oberösterreich.

    “In the coming decades, the energy sector – including Energie AG Oberösterreich – will be influenced by high investment requirements for the process of transformation needed to develop a sustainable energy system. A key success factor in this process will be providing for future financing requirements early, with optimal borrowing and framework conditions. With the EIB, we are delighted to have a strong partner on board for this challenge,” said Andreas Kolar, CFO of Energie AG Oberösterreich.

    This project is part of REPowerEU, the EU plan to rapidly reduce Europe’s dependence on fossil fuels. Thanks to REPowerEU, the EIB is able to finance a higher share of the total project costs than the usual 30-50%.

    The investment also furthers the objectives of Austria’s National Energy and Climate Plan, which plans to convert all electricity generation to renewables by 2030.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    In 2024, the EIB Group signed financing of €1.7 billion in Austria. This primarily promoted countercyclical investments in energy-intensive sectors like steel and renewable energy.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    Energie AG Oberösterreich is a leader in the sustainable future of energy. As the largest energy provider in Austria’s main industrial region, it is doing everything it can to cut emissions throughout the cycle of generation, distribution and recycling – sustainably reducing the CO2 produced by the entire organisation. The goal: to be climate neutral and energy independent by 2035, ensuring security of supply and safe disposal. By 2035, renewable energy sources like water, wind and solar should generate a total of 1.2 TWh per year. That’s the average electricity consumption of around 330 000 households – meaning more than 700 000 people. With the construction of the Ebensee pumped storage power plant, Energie AG Oberösterreich is taking yet another important step towards a sustainable energy future.

    MIL OSI Europe News –

  • MIL-OSI Banking: Statement of the Monetary Policy Committee 19 March 2025

    Source: Central Bank of Iceland

    The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 7.75%. All Committee mem0bers voted in favour of the decision.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Governor, Reserve Bank of India meets Chairmen and MD & CEOs of select Urban Cooperative Banks at Mumbai on March 19, 2025

    Source: Reserve Bank of India

    The Governor, Reserve Bank of India today held a meeting with the Chairmen, Managing Director & Chief Executive Officers of select Urban Cooperative Banks (UCBs) across all Tiers operating in different parts of the country. The representatives from industry bodies viz., National Urban Cooperative Finance and Development Corporation Limited (NUCFDC) and National Federation of Urban Co-operative Banks & Credit Societies Limited (NAFCUB) also participated in the meeting. The meeting was a part of the Reserve Bank’s series of engagement with its Regulated Entities.

    The meeting was also attended by Deputy Governors, Shri M. Rajeshwar Rao and Shri Swaminathan J., along with Executive Directors-in-Charge of Regulation and Supervision.

    The Governor, in his opening remarks, acknowledged the important role of Urban Cooperative Banks in serving the people at the grassroots level and deepening financial inclusion. He stated that Reserve Bank will continue to support the sector in its growth ambitions but emphasised that UCBs also need to be mindful of their responsibilities, particularly in view of the trust reposed on them by the depositors. He stressed the importance of maintaining high standards of customer service to build and retain trust. UCBs were also advised to ensure that they remain operationally resilient including against IT and cyber-related risks.

    The participants shared their feedback and gave various suggestions during the interactive session of the meeting.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2415

    MIL OSI Global Banks –

  • MIL-OSI Banking: Danish economy well-balanced despite uncertain times

    Source: Danmarks Nationalbank

    19 March 2025

    The Danish economy is fundamentally balanced and there are prospects for good growth, continued high employment and low, stable inflation in the coming years.

    Growth in the Danish economy is expected to be fuelled by developments in the domestic economy to a greater extent than in recent years. Further progress in the activities abroad of large, global Danish companies, which are recognised in Danish value added, will also contribute to growth.

    “The relatively high growth in the projection of 3.6 per cent this year includes the development of Danish production abroad and the reopening of the Tyra field. Without these two factors, we estimate that the Danish economy will grow more moderately at 1.4 per cent this year,” says Christian Kettel Thomsen, Governor of Danmarks Nationalbank.

    “Behind the positive picture of the Danish economy, there are factors that can paint a less attractive picture. The Danish economy has adapted to new challenges in the past, most recently during the pandemic, and this will be needed again if trade conflicts and increased defence spending become commonplace,” says Thomsen.

    If global trade conflicts or the implementation of tariff barriers escalate, it could have a major impact on world trade.

    “Our analyses indicate that increased fragmentation of the global economy or a sharp decline in world trade could mean lower growth and higher prices domestically and globally,” says Thomsen.

    Denmark and Europe are also facing a significant increase in defence spending, which could increase capacity pressure in the economy.

    “If capacity pressure in Denmark increases significantly, it should be offset by fiscal measures that reduce it accordingly. This should be seen in light of the fact that Denmark is currently considered to be in a neutral economic situation,” says Thomsen.

    Danmarks Nationalbank’s expectations in a new projection:

    In our new projection, we expect HICP inflation in Denmark to be 2.0 per cent this year, 1.7 per cent in 2026 and 2027. We expect GDP growth to be 3.6 per cent this year, 2.3 per cent in 2026 and 2.0 per cent in 2027.

    Danmarks Nationalbank’s new analyses of the Danish economy and the new annual report for 2024 can be found on the bank’s website, nationalbanken.dk.

    Enquiries and registrations for the press conference can be directed to press advisor Peter Levring on 2620 1809 and pnbl@nationalbanken.dk.

    MIL OSI Global Banks –

  • MIL-OSI Banking: ADB Sells $2 Billion 10-Year Global Benchmark Bond

    Source: Asia Development Bank

    MANILA, PHILIPPINES (19 March 2025) — The Asian Development Bank (ADB) yesterday priced a $2 billion 10-year global benchmark bond, proceeds of which will be part of ADB’s ordinary capital resources.

    “This offering achieved the highest orderbook at more than $7.2 billion for an ADB 10-year global benchmark issue,” said ADB Treasurer Tobias Hoschka. “We are grateful for the investors’ support of ADB’s mission of achieving sustainable, inclusive, and resilient growth across Asia and the Pacific.”

    The 10-year bond, with a coupon rate of 4.375% per annum payable semi-annually and a maturity date of 22 March 2035, was priced at 99.210% to yield 17.4 basis points over the 4.625% US Treasury notes due February 2035.

    The transaction was lead-managed by Citigroup, Deutsche Bank, HSBC and J.P. Morgan.

    The issue achieved wide primary market distribution with 55% placed in Europe, Middle East, and Africa; 25% in Asia; and 20% in the Americas. By investor type, 40% went to banks, 38% to central banks and official institutions, and 22% to fund managers and other types of investors. 

    ADB plans to raise about $35 billion–$36 billion from the capital markets in 2025.

    ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Media Advisory: Registration Open for 58th Annual Meeting of the ADB Board of Governors

    Source: Asia Development Bank

    MANILA, PHILIPPINES (19 March 2025) — The Asian Development Bank (ADB) will hold its 58th Annual Meeting in Milan, Italy, on 4-7 May 2025 under the theme “Sharing Experience, Building Tomorrow”.

    Media are invited to cover the Annual Meeting and should email [email protected] to apply for an invitation. Media representatives include journalists, photographers, camera persons, and media technical crews.

    The Annual Meeting is a unique gathering of Governors from ADB’s 69 members to consider development issues and challenges facing Asia and the Pacific. Several thousand participants, including finance ministers, central bank governors, senior government officials, members of the private sector, representatives of international organizations, civil society, and the media regularly join the meeting.

    A program of seminars is open to the media featuring finance ministers, central bankers, development and industry experts, and ADB Management.  

    For more information, visit the Annual Meeting website and the seminars page.

    Follow #ADBAnnualMeeting and #ADBMilan on Instagram, Facebook, LinkedIn, and X for regular updates.

    ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Asian Development Review: Volume 42, Number 1

    Source: Asia Development Bank

    The opening article underscores the importance of knowledge sharing among city governments. Other articles discuss how urban green spaces can reduce flooding and the burning of waste, how growing mungbeans can reduce reliance on chemical fertilizers, and how internet access can increase farmers’ incomes. Authors also examine trade costs in Central Asia and participation in global value chains.

    For print subscription, e-mail: [email protected]

    Using a newly constructed index of trade openness, this paper finds a significant direct effect of openness on poverty reduction.

    Open Submissions

    This paper exploits the staggered roll-out of a landmark Air Quality Monitoring Program in the People’s Republic of China to study the migration response to pollution information disclosure and labor market outcomes.

    This study explores how local elites’ traits influence environmental performance, both before and after the amendment to the Environmental Protection Law.

    This study investigates the impact of green open spaces in reducing the probability of flooding and open waste burning in urban areas in Indonesia’s three largest metropolitan cities: Surabaya, Jakarta, and Medan.

    This paper studies participation by developing Asian economies in global value chains (GVCs) and uses an input–output framework to measure the impacts that GVCs of final manufactured products have on jobs and income.

    This paper investigates whether engagement with e-commerce is linked to increased sales and productivity gains for informal firms in South Asia.

    This study in Nepal assesses the determinants of mungbean adoption and its impact on fertilizer use, agricultural productivity, and food security.

    This paper measures the impact of a micronutrient training among women farmers with young children on the demand for zinc-enhanced varieties.

    This study examines the association between internet use in agriculture and farm earnings in Indonesia.

    This paper identifies and examines income shock and price shock channels through which climatic disasters affect domestic consumption in the case of Bangladesh.

    Mini Symposium on Trade Costs in Central Asia

    This paper analyzes the impact of trade costs on the exports in five Central Asian countries using a structural gravity model and Corridor Performance Measurement and Monitoring trade cost indicators.

    This study examines the effects of at-the-border and behind-the-border measures on the intraregional perishable goods trade in the Central Asia Regional Economic Cooperation region.

    This paper examines the effect of COVID-19 mobility measures on the time required for cargo to clear the border crossing points of Central Asia Regional Economic Cooperation countries.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Pharmaceutical Supply Chain Assessment for Sri Lanka

    Source: Asia Development Bank

    Despite pharmaceuticals being highly accessible and affordable, the report addresses vulnerabilities and explains why Sri Lanka should step up forecasting and data analytics. It shows how rationalizing the list of essential medicines can help improve economies of scale. It explains why adopting a comprehensive strategy that includes strengthening supply chain governance, improving quality assurance, and optimizing storage and distribution would help make Sri Lanka’s pharmaceutical supply chain more efficient and effective.

    MIL OSI Global Banks –

  • MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 3 April 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTIONS 9(3)-(5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 3 April 2025

    19 March 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 3 April 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. In the Offer Document, the offer period was set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”). On 18 February 2025, Nykredit published a supplement to the Offer Document, which extended the offer period to 20 March 2025. The background for the extension was to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer.

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which further extends the offer period for the Offer. The Supplement has been approved by the Danish FSA on 19 March 2025 in accordance with section 9(3)-(5) of the Danish Takeover Order. The Supplement should be read in conjunction with the Offer Document and the previous supplement as published on 18 February 2025.

    With this Supplement, Nykredit further extends the offer period, such that the Offer will expire on 3 April 2025 at 23:59 (CEST). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 3 April 2025 at 23:59 (CEST) (the “Extended Offer Period”).

    The purpose of the extension is to provide Nykredit with time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer.

    If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the offer period further.

    The extension of the offer period entails that the expected completion of the Offer and settlement of the offer price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 11 April 2025 (provided that the offer period is not extended further than to 3 April 2025 23:59 (CEST)).

    At the time of this announcement, Nykredit holds 32.79 per cent of the shares in Spar Nord Bank. A preliminary compilation of the acceptances that Nykredit has information about shows that, including the irrevocable undertakings, acceptances corresponding to more than 46 per cent of the share capital of Spar Nord Bank has been submitted, and that Nykredit’s ownership interest in Spar Nord Bank, together with the irrevocable undertakings and the binding acceptances submitted that Nykredit has information about, totals more than 80 per cent of the total share capital (excluding treasury shares) of Spar Nord Bank, indicating that the 67 per cent acceptance limit stated in the Offer has been reached. The final result of the Offer will be determined on expiry of the offer period and published in accordance with section 21(3) of the Danish Takeover Order.

    Nykredit intends to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders, provided that Nykredit has obtained the necessary ownership interest, and the Offer has been completed. Spar Nord Bank shareholders who have opted not to accept the Offer, should expect that Nykredit, provided that the Offer is completed, will take steps to combine Nykredit Bank A/S and Spar Nord Bank, which will result in a further increase in Nykredit’s ownership interest in Spar Nord Bank. Not later than in continuation of the combination, Nykredit thus expects to hold a sufficient ownership interest to be able to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with supplements) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with supplements) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the laws of such jurisdiction, including securities laws. It is the responsibility of all Persons obtaining this announcement, the Supplement, the Offer Document, earlier supplements, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachments

    The MIL Network –

  • MIL-OSI: Šiaulių Bankas has placed EUR 300 million bond issue in the international market

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINĖ BENDROVĖ ŠIAULIŲ BANKAS.

    Šiaulių Bankas AB has successfully placed EUR 300 million issue of 5.25-year senior preferred fixed rate reset notes with an optional call date and interest rate reset at 4.25 years from issue.

    The annual fixed rate coupon on the notes up to the reset date will be 4.597%. Settlement will take place on 25 March 2025. Listing of the notes will be on Euronext Dublin.

    The notes have been allocated to more than 100 institutional investors from the UK, Germany, France, Switzerland, Baltic States and other countries, including supranational financial organizations.

    “We appreciate the confidence international investors have shown contributing to our growth story and the partners who are helping us to achieve this ambition – this successful issuance will make a significant contribution to the Šiaulių Bankas’ strategic plans.

    We are pleased that international investors view the country’s economic prospects favourably and recognize our institutions as sound and investment,” says Tomas Varenbergas, Member of the Board and Head of the Investment Management Division of Šiaulių Bankas.

    The proceeds of the notes will be used to meet existing and future minimum own funds and eligible liabilities (MREL) targets, to improve the bank’s liquidity position, and to finance other general corporate purposes.

    The notes rated Baa1 with a stable outlook by the international rating agency Moody’s.

    Relevant stabilisation regulations including FCA/ICMA will apply.

    Šiaulių Bankas mandated global investment banks Erste Group, Goldman Sachs Bank Europe SE and Morgan Stanley as well as Šiaulių Bankas AB as Joint Lead Managers.

    Šiaulių Bankas as the issuer was advised on legal matters by Dentons UK and Middle East LLP and TGS Baltic as lead issuer’s legal counsel. The Joint Lead Managers were advised by Linklaters LLP and Sorainen on legal issues.

    This communication is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

    Additional information:

    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI Global: Why did the Israel-Hamas ceasefire fall apart? It was never going to solve the root causes of the conflict

    Source: The Conversation – Global Perspectives – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne

    When a ceasefire in the war between Hamas and Israel finally came into effect on January 19, the world breathed a collective sigh of relief.

    However, that ceasefire agreement, and its associated negotiations, have now been cast aside by new Israeli attacks on Gaza.

    A statement from Israeli Prime Minister Benjamin Netanyahu’s office said the strikes came after Hamas’ “repeated refusals” to “release our hostages”, and the group’s rejection of all proposals presented by US President Donald Trump’s Middle East envoy, Steve Witkoff.

    Even before Israel cut off all humanitarian aid and electricity to Gaza in the past two weeks, Hamas claimed it had not met the levels of humanitarian aid, shelter and fuel it agreed to provide in the terms of the ceasefire. However, this is a distraction from a larger issue.

    This ceasefire was always more like a strangle contract than a negotiated agreement between equal parties. Israel, as the party with far greater military and political power, has always had the upper hand.

    And while the first phase of the ceasefire, which lasted 42 days, saw the successful release of 33 hostages held by Hamas in exchange for nearly 1,800 Palestinian prisoners, the ceasefire also enabled Israel to use it for its own political and military ends.

    Buying time

    The most common conventional concern about ceasefires is that the parties to a conflict will use them for their own ends.

    Typically, the worry is that non-state armed groups, such as Hamas, will use the halt in violence to buy time to regroup, rearm and rebuild their strength to continue fighting.

    But states such as Israel have this ability, too. Even though they have standing armies that might not need to regroup and rearm in the same way, states can use this time to manoeuvre in the international arena – a space largely denied to non-state actors.

    Trump’s rise to power in the US has seemingly given the Israeli government carte blanche to proceed in ways that were arguably off limits to previous US presidents who were also largely supportive of Israel’s actions.

    This includes the plan of forcing Gaza’s population out of the strip. This plan was raised earlier in the war by Trump advisor Jared Kushner and Israeli officials as a supposed humanitarian initiative.

    Trump has now repeated the call to relocate Palestinians from Gaza to Egypt and Jordan – or possibly other parts of Africa – and for the US to take “ownership” of the coastal strip and turn it into the “Riviera of the Middle East”.

    On the face of it, this plan would be a war crime. But even if it is never fully implemented, the fact it is being promoted by Trump after many years of domestic Israeli and international opprobrium shows how political ideas once thought unacceptable can take on a life of their own.

    Political and military maneouvering

    Israel has also used the ceasefire to pursue larger political and military goals in Gaza, the West Bank, southern Lebanon and Syria.

    Even though the ceasefire did reduce overall levels of violence in Gaza, Israel has continued to carry out attacks on targets in the strip.

    It has also escalated the construction of settlements and carried out increasingly violent operations in the West Bank. In addition, there have been egregious attacks on Palestinian residents in Israel.

    And though nearly 1,800 Palestinian prisoners were released during the ceasefire, Israel was holding more than 9,600 Palestinians in detention on “security grounds” at the end of 2024. Thousands more Palestinians are being held by Israel in administrative detention, which means without trial or charge.

    During the ceasefire, Israel also accelerated efforts to evict the UN agency for Palestinian refugees, UNRWA, from its headquarters in East Jerusalem. And the Israeli government has also proposed increasingly draconian laws aimed at restraining the work of Israeli human rights organisations.

    On the military front, the ceasefire arguably alleviated some pressure on Israel, giving it time to consolidate its territorial and security gains against Hezbollah in southern Lebanon and in Syria.

    In the past two months, two deadlines for the withdrawal of Israeli forces from southern Lebanon passed. Israel has instead proposed establishing a buffer zone on Lebanese territory and has begun destroying villages, uprooting olive trees and building semi-permanent outposts along the border.

    In a speech in February, Netanyahu also demanded the “complete demilitarisation of southern Syria” following the fall of Bashar al-Assad’s regime. And Defence Minister Israel Katz said this month Israel would keep its troops in southern Syria to “protect” residents from any threats from the new Syrian regime.

    Be careful what you wish for

    While Palestinians are known for their sumud – usually translated as steadfastness or tenacity – there is a limit to what humans can endure. The war, and subsequent ceasefires, have created a situation in which Gazans may have to put the survival and wellbeing of themselves and their families above their desire to stay in Palestine.

    There is a general assumption that ceasefires are positive and humanitarian in nature. But ceasefires are not panaceas. In reality, they are a least-worst option for stopping the violence of war for often just a brief period.

    A ceasefire was never going to be the solution to the decades-old conflict between Israel and the Palestinians. Instead, it has turned out to be part of the problem.

    Marika Sosnowski does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Why did the Israel-Hamas ceasefire fall apart? It was never going to solve the root causes of the conflict – https://theconversation.com/why-did-the-israel-hamas-ceasefire-fall-apart-it-was-never-going-to-solve-the-root-causes-of-the-conflict-249944

    MIL OSI – Global Reports –

  • MIL-OSI China: Announcement on Open Market Operations No.53 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.53 [2025]

    (Open Market Operations Office, March 19, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB295.9 billion through quantity bidding at a fixed interest rate on March 19, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB295.9 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年03月19日

    MIL OSI China News –

  • MIL-OSI China: Better financing support urged for private sector

    Source: China State Council Information Office

    The China Banking Association and the All-China Federation of Industry and Commerce jointly issued a proposal on Monday, calling on banking institutions to improve credit access for private enterprises, offer better financial services for private technology companies and lower financing costs for the private sector.

    The association said the proposal aims to drive banking and financial institutions to make more concrete endeavors to facilitate the high-quality development of the private economy.

    Banking institutions are expected to support micro and small private enterprises for debut loans, rollover loans and credit loans, it said.

    According to the proposal, enhancing financing services tools, such as intellectual property pledges and receivables pledges, is crucial to actively supporting technology-driven private enterprises in research and development, commercialization of innovations, and transformation and upgrades.

    Additionally, banking institutions are expected to reduce the overall financing costs for private enterprises by increasing credit supply and streamlining processes to minimize intermediary expenses, it said.

    The move comes amid stronger efforts by the nation to support the high-quality development of its private sector.

    Lin Zeyan, deputy secretary-general of the All-China Federation of Industry and Commerce, said that based on a financing assistance program tailored for small and medium-sized enterprises, which the federation has been engaged in over the past five years, the proposal aims to provide stronger support to and cover all private economic entities, and encourage broader participation from banks.

    Xing Wei, vice-president of the China Banking Association, said the proposal will serve as a guideline for banking institutions to improve financial services for private enterprises, fostering the high-quality development of the private economy in the new era.

    “In recent years, the financing environment for private enterprises has significantly improved, with loan interest rates steadily declining and financing accessibility markedly enhanced,” said Wen Bin, chief economist at China Minsheng Bank.

    As of June 30 last year, outstanding loans to private enterprises nationwide reached 71.8 trillion yuan ($9.93 trillion), a year-on-year growth of 9 percent — 0.8 percentage point higher than the overall loan growth rate, according to the National Financial Regulatory Administration.

    Meanwhile, the average interest rate on newly issued loans to private enterprises stood at 3.9 percent, down 0.58 percentage point from a year earlier and cumulatively decreasing by 3 percentage points since 2018.

    At a time when the external environment is becoming increasingly complex and uncertain, and the foundation for economic recovery is not yet solid along with insufficient effective demand, China needs to make more efforts to support its private sector, Wen said.

    “Addressing the financing difficulties and high costs faced by private enterprises, especially small and micro ones, remains a long-term and systemic endeavor,” he said.

    Looking ahead, efforts should be made to deepen financial services for private enterprises, provide diversified and innovative solutions, and support growth in emerging sectors to further drive the development of the private economy, Wen said.

    MIL OSI China News –

  • MIL-OSI Banking: Just Transition Socioeconomic Impact Assessment for Georgia

    Source: Asia Development Bank

    It looks at Georgia’s climate commitments and narrows in on plans to build renewable energy power plants, implement energy efficiency reforms for new buildings, and overhaul intercity bus networks to reduce emissions. It weighs potential negative impacts such as higher costs for vulnerable groups against opportunities for job creation and improved services, and outlines ways Georgia can ensure its green transition is inclusive and sustainable.

    MIL OSI Global Banks –

  • MIL-OSI China: Former chairman of China Everbright Group sentenced for bribery

    Source: China State Council Information Office 2

    Li Xiaopeng, former Party chief and chairman of China Everbright Group, was on Tuesday sentenced by a court to 15 years in prison for accepting bribes.
    Li was also fined 6 million yuan (about 831,000 U.S. dollars), and all his illegal gains will be recovered and turned over to the state treasury, according to the verdict by the Intermediate People’s Court of Daqing City, northeast China’s Heilongjiang Province.
    Li was found to have taken advantage of his various posts at institutions such as the Industrial and Commercial Bank of China and the China Everbright Group to assist others in matters such as loan credit, corporate financing and business contracting. In return, he accepted money and gifts worth over 60.43 million yuan.
    Taking into account mitigating factors, such as Li’s truthful confession after his arrest and the recovery of all his illicit assets and proceeds, the court handed down a lenient sentence.

    MIL OSI China News –

  • MIL-OSI Banking: Panasonic in Numbers: Small and Remote-Controllable Mobilities

    Source: Panasonic

    Headline: Panasonic in Numbers: Small and Remote-Controllable Mobilities

    Panasonic Holdings Corporation has become the first in Japan* to be granted approval for the simultaneous operation by a single operator of 10 small and remote-controllable mobilities on public roads.
    The mobilities, known as “HAKOBO,” integrate automatic delivery robots with a remotely operated system and are designed for use in last-mile delivery, mobile vending, information dissemination, and other business scenarios. HAKOBO were operated in three regions (Fujisawa City, Kanagawa Prefecture; Kadoma City, Osaka Prefecture; and Saga City, Saga Prefecture) during a demonstration experiment. Panasonic has developed an AI function that significantly reduces operator workloads, making it possible for each operator to manage up to 10 robots simultaneously.
    Panasonic Group is committed to providing new services that enhance convenience in people’s lives, address labor shortages, and improve working conditions.

    * Research conducted by Panasonic as of January 23, 2025

    MIL OSI Global Banks –

  • MIL-OSI Economics: Speech by Dr. Akinwumi A. Adesina, President and Chairman of the Boards of Directors African Development Bank Group, at the High-Level Conference on…

    Source: African Development Bank Group

    [PROTOCOLS]

    Your Excellencies,

    Honourable Ministers,

    Distinguished delegates,

    Ladies and Gentlemen,

    Good morning.

    I am delighted to join you all today at this high-level conference, focusing on smallholder farmers.

    On behalf of the African Development Bank Group, I wish to convey our profound gratitude to our host, His Excellency President William Ruto, his government and the people of Kenya for their generous support for hosting this High-Level Conference in Nairobi.

    I would have joined you for the sessions at this high-level conference yesterday, but I had a very important engagement at the State House, Kenya. It was such a great honour, yesterday for His Excellency President William Ruto to confer on me the Chief of the Order of the Golden Heart (C.G.H), Kenya’s highest national honour and distinction.

    I wish to express my deepest gratitude once again to President Ruto for this exceptional honour, given only to 19 Heads of State and Government and global leaders since 1963.

    I am especially delighted that the conferment of this honour was given the same day that farmers and agribusinesses of Africa are gathered right here at the High-level conference on ‘Scaling Financing for Smallholder Farmers”.

    As you know, I am a great supporter of African farmers and agribusinesses. So, I wish to ask that you all join me in thanking President Ruto for this great honour.

    Your Excellencies, ladies and gentlemen,

    I wish to commend our partners, the Pan African Farmers’ Organization (PAFO) and all the partner organizations that have worked tirelessly with our teams from the African Development Bank to organize this high-level conference.

    We meet here in Nairobi to reposition and expand opportunities for Africa’s smallholder farmers who contribute over 80% of the continent’s food production.

    I will be speaking to you today on: “Progress Since Dakar 2 Feed Africa Summit: a portrait of success in building coalitions for supporting smallholder farmers to transform African economies”.

    Your Excellencies, ladies and gentlemen,

    Africa will be the epicentre of feeding the world, since 65% of the uncultivated arable land left in the world is in Africa. Therefore, what Africa does with its agriculture will determine the future of food in the world.

    It is with this goal of unleashing the potential of Africa to feed itself, and to do so with pride, that the African Development Bank, in partnership with the Government of Senegal and the African Union, organized the Feed Africa Summit (or Dakar 2) in 2023.

    The theme of the Summit was on Achieving Food Sovereignty and Resilience. Attended by 34 heads of state and government, Dakar 2 showed the political commitment of governments towards ensuring food security and food sovereignty in Africa.

    Many of you were there!

    At the heart of Dakar 2 were 41 Presidential Boardrooms that launched Country Food and Agriculture Delivery Compacts outlining national production targets, enabling policies, smallholder farmers’ support, rural infrastructure development, and innovative financing solutions.

    Dakar 2 gave us a renewed sense of purpose and marked a turning point in Africa’s pursuit of food security through the power of partnerships and cooperation.

    Dakar 2 showed us the power of partnerships. At the Dakar 2 Feed Africa Summit, development partners committed $30 billion to support the Compacts, with the African Development Bank Group pledging $10 billion.

    In less than a year after the Dakar 2 Feed Africa summit, financial commitments from development partners from around the world increased to $72 billion.

    This is unprecedented in the history of agriculture in Africa.

    Since then, the African Development Bank has made tremendous progress in our combined continental quest to Feed Africa, approving 77 operations valued at $3.9 billion to support the implementation of Compacts in 32 countries.

    This year, the African Development Bank plans to approve an additional $1.72 billion in project investments and policy-based operations.

    Central to the Compacts is the Bank’s flagship initiative, the Technologies for African Agricultural Transformation (TAAT) which aims to double food production by providing proven technologies to more than 40 million smallholder farmers by 2025.

    The TAAT platform has delivered heat-tolerant wheat varieties, drought-tolerant maize varieties, and high-yield rice varieties, as well as capacity building, training and other related services to 25 million farmers across the continent.

    Our efforts with partners have increased Africa’s crop production by an estimated 120 million tonnes of additional food. A total of $1.7 billion in investments has been influenced by TAAT’s climate-smart technologies – and about 247 million Africans have better nutrition today, due to TAAT.

    TAAT is also a key driver of the African Development Bank’s $1.5 billion African Emergency Food Production Facility approved in 2022 to avert a looming food crisis following global geopolitical tensions. The facility is a continental initiative to support 20 million smallholder farmers in 35 countries to access certified seeds and fertilizer to produce 38 million metric tons of food.

    As of December 2024, the African Emergency Food Production Facility had delivered 459,000 tons of seed, distributed 2.8 million tonnes of fertilizer to 12.3 million farmers. It has supported the production of 37.6 million metric tons of additional food in Africa. are on course to meeting and even surpassing the target we set just about two years ago.

    Excellencies, ladies and gentlemen,

    We are working hard to connect farmers to market off-takers, and to accelerate the processing and value addition to food and agricultural commodities. We are doing this through the development and roll out of Special Agro-Industrial Processing Zones.

    The African Development Bank has committed $934.51 million to the Special Agro-Industrial Processing Zones, which has been matched with co-financing from our partners amounting to $938.27 million. Currently, we have 27 ongoing Special Agro-Industrial Processing Zones projects across 11 countries.

    However, despite lots of progress being made, one area that continues to remain a challenge for farmers, especially smallholder farmers, and small and medium sized agribusinesses, is lack of access to finance.

    There exists an annual financing deficit of $75 billion for farmers and small and medium enterprises. Data from 35 lenders found a perception of higher risks and lower returns by commercial banks to lending to agriculture-linked small and medium enterprises.

    Therefore, we must find efficient ways to “de-risk” lending to farmers and small and medium enterprises. This can be achieved by absorbing incremental risk and thereby increasing lenders’ risk appetite and by leveraging outside private sector finance into the agricultural sector.

    The three major investment channels deployed effectively by the African Development Bank in addressing these challenges include: (1) the Affirmative Finance Action for Women in Africa (AFAWA), (2) the African Fertilizer Financing Mechanism, and (3) the Inputs Supplier Risk Sharing Program.

    First: as of February 2025, the Affirmative Finance Action for Women in Africa program had approved $2.52 billion in financing for over 24,000 of Africa’s women-led businesses. This has been achieved through partnerships with the Africa Guarantee Fund which now works with over 185 financial institutions across 44 African countries.

    Second: The African Fertilizer Financing Mechanism has implemented trade credit guarantee projects in 8 countries, including Tanzania, Nigeria, Ghana, Côte d’Ivoire, Zimbabwe, Kenya, Uganda and Mozambique. The $17.1 million trade credit guarantee was leveraged by 4.7 times, including 13 times leverage in Tanzania. It has enabled the distribution of 125,193 metric tons of fertilizer worth $62.8 million, which benefited 776,971 smallholder farmers during the 2019–2024 seasons. These projects also facilitated access to finance for over 126 hub agro-based enterprises involved in fertilizer distribution, with women beneficiaries representing 36% of the African Fertilizer Financing Mechanism projects. 

    And the third channel is the African Development Bank’s new $600 million Inputs Supplier Risk Sharing Program. This is to support the development of more robust agricultural inputs market systems through de-risking of the inputs supply ecosystem. This is focusing on Uganda, Kenya, Tanzania, Ghana and Zambia. Initially this will be undertaken through the deployment of a risk sharing mechanism, backed by the Bank’s Partial Credit Guarantee instrument, to attract private sector, and donor resources for the development of a sustainable agricultural-inputs market system.

    Your Excellencies, ladies and gentlemen,

    In addition, the African Development Bank is working with Mastercard and other partners on developing the “Mobilizing Access to the Digital Economy,” or the MADE Alliance Africa. The Bank’s first phase commitment includes $300 million to the MADE Alliance Africa’s initial five years of programming. By doing so, the African Development Bank aims to bring 3 million farmers in Kenya, Tanzania and Nigeria into the digital economy.

    I am pleased to inform you that we will be consulting with our Board of Directors of the African Development Bank to establish a $500 million facility to unlock $10 billion of financing for smallholder farmers, as well as small and medium sized agribusiness enterprises.           

    This will include the use of trade credit guarantees, first loss coverage, blended finance, and origination incentives that defray the high transaction costs of serving enterprises, as well as technical assistance.

    Your Excellencies, ladies and gentlemen,

    From Dakar 2 Feed Africa summit to Nairobi ‘Scaling up finance for farmers” conference today, we stand on the threshold of making history by pushing the boundaries of innovation and building extensive collaborative alliances to accelerate action towards bridging the financing gap facing smallholder farmers and small and medium sized agribusinesses.

    The African Development Bank remains fully committed to collaborating with the Pan African Farmers’ Organization and its subsidiary farmers’ organizations, as well as development partners and financial institutions, to fully unlock financing for smallholder farmers and small and medium sized agribusiness enterprises.

    Together, let us expand access to finance at scale for farmers and small and medium sized agribusinesses.

    Together, let us provide strong policy support for farmers.

    Africa must never abandon its farmers.

    Together, let us unleash the potential of agriculture in Africa.

    Let us make Africa the breadbasket of the world.

    And together, let us feed Africa, with pride!

    Thank you very much.

    MIL OSI Economics –

  • MIL-OSI Economics: Global and African Financial Experts Urge Action to Enhance Smallholder Farmer Financing

    Source: African Development Bank Group

    Leading global and African financial experts have issued a resounding call to align financial structures with the needs of smallholder farmers.

    Speaking at a two-day conference on financing Africa’s smallholder farmers in Nairobi, Kenya, the experts underscored the crucial role of government intervention in creating an enabling environment for financial institutions to expand agricultural lending.

    The conference represents a pivotal step in mobilizing the billions needed annually to support Africa’s smallholder farmers, who make up some 80% of the continent’s farming population but control less than 5% of agricultural land.

    African Development Bank Group President Dr. Akinwumi Adesina delivered the keynote address, highlighting a glaring disconnect: while agriculture contributes 30% to Africa’s GDP, it accounts for only 6% of commercial bank lending.

    “Smallholder farmers around the world are the same, except those from Africa face difficult odds — poor access to markets, finance, information, infrastructure, and inputs—none of which we can’t address collectively,” Adesina said.

    A key highlight of Tuesday’s session was a panel discussion featuring Alice Albright, former CEO of the Millennium Challenge Corporation (MCC); Brian Milder, Founder and CEO of Aceli Africa; and Jules Ngankam, Group CEO of the African Guarantee Fund. Moderated by former international broadcaster Yvonne Ndege, the panel explored practical designs for sustainable financing mechanisms to bridge the financing gap in agriculture.

    Panelists identified several critical barriers to adequate financing. These include risk misperceptions in agricultural lending, high transaction costs for rural financial services, mismatches between standard loan products and agricultural business cycles, lack of formal financial records and collateral, and inequitable value chain structures that limit farmer profitability.

    Milder shared a success story from Tanzania, where targeted interventions enabled Tanzania Commercial Bank to increase its agricultural lending share from 2% to much higher levels while simultaneously quadrupling rural bank deposits.

    He also highlighted the stark contrast between the 14% yield on Kenyan government bonds and the mere 3% average return on agricultural SME lending, illustrating the urgent need for solutions that make agricultural finance more attractive to investors.

    “Capital is like water—it runs downhill,” Milder noted. “We need solutions that consider the full profitability equation, including transaction costs, risk, and capital costs for financial intermediaries.”

    Albright drew on her experience developing the International Finance Facility for Immunization, which has raised $9.7 billion, to emphasize the need to clearly define financing challenges, assess risks, and build political will among governments.

    “We must articulate the public policy rationale for financing smallholder farmers and address key design challenges, including risk management and cost efficiency,” Albright stated. “With political will, innovative financial instruments, and strategic partnerships, we can establish a robust financing ecosystem that ensures capital flows where it is needed most.”

    Ngankam provided insights into how risk mitigation strategies could unlock financing for smallholder farmers. He emphasized the necessity of financial products tailored to different agricultural value chains.

    MIL OSI Economics –

  • MIL-OSI Economics: African Development Bank and Germany Sign €18.4 million financing agreement in support of NEPAD-IPPF to boost infrastructure project preparation in…

    Source: African Development Bank Group

    The African Development Bank and Kreditanstalt für Wiederaufbau (KfW), the German state-owned investment and development bank, have signed an agreement for a contribution of €18.4 million to the NEPAD – Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund.

    The funding, which brings KfW’s contribution to NEPAD-IPPF to $58.14 million, will support the facility’s drive to achieve its key priorities including  the second Priority Action Plan under the Programme for Infrastructure Development in Africa (PIDA PAP2)  through 2030. The New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF), a multi-donor Special Fund, hosted by the African Development Bank, is a leading project preparation facility in Africa, which plays a catalytic role in providing technical and financial assistance for the preparation of regional infrastructure projects and programs.

    The agreement was signed in Abidjan, Côte d’Ivoire, by Christoph Tiskens, KfW’s Director for Eastern Africa and the African Union, and Mike Salawou, African Development Bank Director for Infrastructure and Urban Development. The signing of the agreement follows the German government’s 2024 announcement of the replenishment.  

    Tiskens commended the achievements of NEPAD-IPPF. He said, “The NEPAD-IPPF Special Fund has had remarkable success throughout the year, demonstrating significant progress in advancing regional infrastructure development in Africa. This replenishment aims to support infrastructure development with a focus on areas such as climate change, gender, Agenda 2063, the African Continental Free Trade Area (AfCFTA), and a stronger focus on attaining the Sustainable Development Goals.” He affirmed the German Government’s commitment to its partnership with the African Development Bank. 

     Salawou said: “This replenishment marks a significant milestone in our long-standing partnership with Germany to advance infrastructure development and financing in Africa.  With this support, NEPAD-IPPF will be better capitalized to scale up and speed up the preparation of transformational cross-border and climate-smart infrastructure projects, ensuring they are bankable and investment ready,”

    He added: “This is an important step in accelerating implementation of the African Continental Free Trade Area (AfCFTA), regional integration, and economic growth. The Bank therefore values this partnership and will continue to strengthen it.”

    MIL OSI Economics –

  • MIL-OSI: Dime Announces Expansion in Manhattan With Hire of Jim LoGatto

    Source: GlobeNewswire (MIL-OSI)

    HAUPPAUGE, N.Y., March 18, 2025 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced today that Jim LoGatto has joined the Company as an Executive Vice President. LoGatto will be responsible for growing Dime’s commercial banking business in Manhattan.

    Most recently, LoGatto served as Executive Vice President and Director of US Private Banking at Israel Discount Bank of New York. He also held various executive level positions at Wells Fargo Bank and Independence Community Bank. LoGatto began his career at Irving Trust Company and subsequently joined Republic National Bank where he rose to the position of Managing Director.

    Stuart H. Lubow, President and Chief Executive Officer of Dime, said, “We are excited to attract a banker of Jim’s caliber to our organization. Jim is an extremely seasoned banker with a very strong reputation in the Manhattan marketplace. Hiring Jim is consistent with our stated goal of expanding our deposit and lending presence in Manhattan.”

    ABOUT DIME COMMUNITY BANCSHARES, INC.

    Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

    Dime Community Bancshares, Inc.
    Investor Relations Contact:
    Avinash Reddy
    Senior Executive Vice President – Chief Financial Officer
    Phone: 718-782-6200; Ext. 5909
    Email: avinash.reddy@dime.com

    ____________________
    ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

    The MIL Network –

  • MIL-OSI United Nations: Resumed Hostilities, Blocked Aid Destroying Ceasefire Gains in Gaza, Security Council Hears

    Source: United Nations General Assembly and Security Council

    As Israel resumes airstrikes over Gaza and blocks entry of humanitarian aid into the Strip, the modest gains made during the ceasefire are being destroyed, Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, told the Security Council today.

    “Overnight, our worst fears materialized,” he added, noting unconfirmed reports of hundreds of people killed on 17 March.  Recalling his recent visit to the Occupied Palestinian Territory and Israel in February, he said that — despite the devastation he saw — “my trip coincided with some of Gaza’s better days” because a ceasefire was in place and humanitarians were delivering hundreds of trucks every day.  “Not anymore,” he reported.

    Since 2 March, Israeli authorities have halted the entry of all lifesaving supplies, including food, medicine, fuel and cooking gas, for 2.1 million people.  Repeated requests to collect aid sitting at the Karem Shalom border crossing have also been systematically rejected, no further hostages have been released and Israel has cut power to southern Gaza’s desalination plant, limiting access to clean water for 600,000 people.

    Further, international staff of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) are no longer able to rotate into and out of Gaza due to recent Knesset legislation.  He also highlighted new registration rules for international non-governmental organizations, as well as a law under consideration to impose high taxes on donations from third States to Israeli humanitarian and human-rights groups.

    Also pointing to the urgent crisis in the West Bank, he said that 95 Palestinians have been killed, including 17 children, since the start of 2025.  Additionally, Israeli military operations in the northern West Bank have displaced 40,000 Palestinians, while hundreds of Israeli settlers have launched large-scale attacks on Palestinian villages.  Outlining three urgent asks, he called on the Council to enable the entry of humanitarian aid and commercial essentials into Gaza, renew the ceasefire and fund the humanitarian response.

    Palestine Says Death Returns to Gaza, Israel Says Hamas Responsible

    The Permanent Observer for the State of Palestine, noting that this meeting was initially called to discuss Gaza’s humanitarian situation, added:  “Now we gather here after a series of deadly Israeli attacks that killed, last night alone, hundreds of Palestinians.”  Bombardment, death, devastation, fire and fear are yet again spreading throughout Gaza, he said.

    “Ceasefire works — it is the only thing that does,” he stressed, stating that it stopped the bloodshed, allowed the release of hostages and prisoners and enabled the delivery of humanitarian aid.  Unilateral, self-serving and irresponsible decisions cannot be used as excuses for breaking it.  “While the Trump Administration has prioritized the release of hostages, it is evident that [Prime Minister of Israel Benjamin] Netanyahu’s concern for his political survival far outweighs his concern for the survival of the hostages,” he added.

    The Arab Summit endorsed a clear vision and a solid plan for a different trajectory for Gaza and Palestine — “these efforts should be supported, not compromised and sabotaged”, he urged.  The international community must also support the Palestinian Government’s assumption of its responsibilities throughout the Occupied Palestinian Territory, the deployment of a UN-mandated mission throughout the Territory, a permanent ceasefire and the two-State solution.  “This is a historical moment, where everyone must choose where they stand and what vision they want to see prevail,” he said.

    However, Israel’s representative stressed that “the return to fighting is a necessity”, reaffirming his country’s commitment to bring home its hostages and defeat Hamas.  Hamas has refused to release hostages and has repeatedly rejected all offers by the United States and mediating countries — even during Ramadan — he said, spotlighting the Israel Defense Forces’ precise attacks on Hamas targets.

    For months, Israel took unprecedented steps to facilitate humanitarian aid into Gaza, he asserted, adding that these efforts are “not speculation, not political rhetoric”; they are “documented, verifiable and confirmed by the organizations distributing and supplying the aid”.  The hostages still held in brutal captivity by Hamas should be paramount for those truly concerned about humanitarian crises, he said, adding:  “Any discussion of humanitarian suffering that does not begin with the hostage release is not an honest discussion.”

    “The slander that the people of Gaza are currently starving is quite simply untrue,” he continued, stating that “claims that electricity cut-off has plunged Gaza into humanitarian collapse are greatly exaggerated”. Rather, any suffering in Gaza is due to Hamas’ hijacking of aid for its violent ends.  Pointing to certain Council members’ efforts to malign Israel, he stressed:  “If this Council wishes to address suffering, then it must demand the immediate and unconditional release of the hostages.”

    Some Council Members Also Point to Hamas

    Along similar lines, the representative of United States emphasized that the blame for resumed hostilities lies solely with Hamas, which has steadfastly refused “every proposal and deadline they’ve been presented”.  Hamas prefers to hold hostages captive and hide amongst the people of Gaza, she said, dismissing the allegation of indiscriminate attacks by the Israel Defense Forces.  Underlining the need to tackle Iran’s “malign influence and State sponsorship of terror”, she said that Middle Eastern countries have an “historic opportunity to reshape their region”.

    Echoing that, Panama’s delegate said that the suffering in Gaza is the direct consequence of Hamas’ extremist actions, “which unleashed this tragic spiral of violence”.  He, too, condemned Hamas’ current refusal to meet the commitments agreed upon and release additional hostages.

    France’s representative highlighted the international conference to be held in June, chaired by his country and Saudi Arabia, on the implementation of the two-State solution.  The reconstruction plan for Gaza put forward by the Arab League must exclude Hamas from Gaza’s governance, he said.  “The terrorist attacks committed by Hamas and other terrorist groups on 7 October 2023 constitute the worst anti-Semitic massacre since the Shoah”, and he therefore reaffirmed France’s solidarity with the Israeli people.

    Others Point to Israel’s Responsibility as Occupying Power

    Algerians understand the cruelty of occupation “because we endured it for over 130 years”, that country’s delegate recalled.  “This deliberate blockade, timed to coincide with the holy month of Ramadan, is a calculated effort to break the resilience of the Palestinian people,” he stressed.  Further, he observed that “the Israeli occupying Power is using water — yes, water — as a weapon of war.”  Once again, Palestinian blood has become a tool for the calculations of Israeli politicians, and he called on mediator countries to ensure compliance with the ceasefire.

    Blocking trucks, cutting off electricity, mistreating non-governmental organizations, preventing Muslims from accessing the Aqsa Mosque compound — “these are all tactics of the oppressor”, stated Pakistan’s representative.  The manner in which the Council and the international community respond to such atrocities will have a lasting impact on the nature of the world order.  He also pointed out that international humanitarian law prohibits targeting military targets in civilian facilities. 

    The Republic of Korea’s representative said that Hamas’ refusal to carry out its obligations does not justify blocking humanitarian aid or using it as a bargaining chip.  He cited Under-Secretary-General Fletcher’s remarks during a 12 March press briefing:  “I said to my colleague:  Why are the dogs so fat?  And he said:  Because the dogs are looking for corpses.”  Israel must immediately cease its offensive, he stressed, urging all parties to return to the negotiating table.

    The representative of Denmark, Council President for March, spoke in her national capacity to spotlight Israel’s obligation, as the occupying Power, to ensure that the civilian population does not lack food or other basic needs, including water.  Sierra Leone’s delegate also noted that Israel, as the occupying Power, has obligations under the Fourth Geneva Convention and international humanitarian law.

    They, along with the representatives of the United Kingdom and China, were among the many speakers who underscored the need for an immediate ceasefire.  Somalia’s speaker, expressing concern that Israeli strikes in Gaza were taking place during the Muslim holy month of Ramadan, also said that worshipers at the Aqsa Mosque compound must be able to freely and safely perform their religious rituals.  The Russian Federation’s delegate warned against delays, noting that many have died because of the Council’s earlier inability to decide on a ceasefire.

    Several speakers condemned Israel’s decision to halt humanitarian aid into Gaza.  “This decision is illegal,” emphasized Guyana’s representative, who also highlighted the impact on women — many have died from complications related to pregnancy and childbirth because of the restrictions.  She also noted the 13 March report of the independent international commission of inquiry on the Occupied Palestinian Territory, which points to Israel’s systematic use of sexual, reproductive and other forms of gender-based violence since 7 October 2023.

    Slovenia’s representative, noting that it is roughly one year since the International Court of Justice issued provisional measures relating to humanitarian aid, famine and starvation in the case brought forward by South Africa, said that it is unacceptable that “our conversations are still the same”. 

    Greece’s delegate added that UNRWA’s role is indispensable with millions in urgent need of primary health services, education and shelter.  “War has not left the next generation in Gaza untouched,” he said, noting that thousands of children died, were injured or separated from their families and internally displaced.  The unhindered and continuous flow of aid into all parts of Gaza should remain a priority, and he also voiced support for the Arab plan put forth by Egypt.

    Also speaking today was the Permanent Observer of the League of Arab States, who urged implementation of the first phase of that plan, adopted during an Arab League meeting in Cairo and later endorsed by a ministerial meeting of the Organization of Islamic Cooperation (OIC).  He also urged the Council to activate international oversight mechanisms to guarantee the safe and sustainable delivery of aid and ensure the protection of Palestinian civilians.

    MIL OSI United Nations News –

  • MIL-OSI Australia: NAB welcomes more support for no-interest loans

    Source: National Australia Bank

    More Australians will be able to access no-interest loans thanks to a $48.7 million funding boost from the Federal Government for the No Interest Loans program (NILs).

    The NILs program – delivered by Good Shepherd with capital provided by NAB – has already helped more than one million Australians with over $560 million in interest and fee free loans over the past 21 years.

    NAB Executive Sustainability Jessica Forrest

    NAB Executive Sustainability Jessica Forrest said NAB is proud to be the bank behind Australia’s longest standing no interest loans program, providing a safe and accessible way for people to borrow money when they need it the most.

    “NILs is NAB’s longest-running community partnership, and we’re committed to ensuring more Australians can access credit for life’s essentials.

    “This additional funding means even more people on lower incomes can get the support they need without the stress of interest charges or hidden fees.”

    No-interest loans of up to $2,000 help cover household essentials like fridges, washing machines, and furniture, as well as education and medical expenses. NILs for Vehicles loans of up to $5,000 can be used for motor vehicles, mobility scooters, registration, and maintenance costs.

    “These loans give people a safer alternative to high-cost payday loans and can also assist Australians escaping family, domestic and sexual violence – helping them with financial recovery and independence,” said Ms Forrest.


    Notes to the Editor:

    Individuals can apply for NILs at over 600 locations across Australia. They are available
    to individuals and families who can service the loan and:

    • earn less than $70,000 gross annually (before tax) as a single person or $100,000 gross (before tax)
      as a couple or person with dependants, or
    • have experienced family or domestic violence in the last 10 years, or
    • have a Health Care Card or Pension Card

    More information about NILs is available on NAB’s website.

    Topics

    SEE ALL TOPICS

    Media Enquiries

    For all media enquiries, please contact the NAB Media Line on 03 7035 5015

    MIL OSI News –

  • MIL-OSI United Nations: ‘Intolerable’ suffering in Gaza amid deadly airstrikes, continued aid blockade

    Source: United Nations MIL OSI b

    Peace and Security

    The UN Secretary-General on Tuesday spoke of new “intolerable” suffering for Gazans following the resumption of deadly Israeli airstrikes, underscoring three immediate needs: a renewed ceasefire, unimpeded humanitarian access and the unconditional release of hostages.

    “We will not give up on these objectives,” António Guterres said during a press encounter at the UN Office in Geneva.

    Airstrikes resume, aid blocked

    In a statement issued earlier in the day, UN Deputy Spokesperson, Farhan Haq, said Mr. Guterres was “shocked” by the Israeli strikes, which reportedly killed hundreds overnight.

    He issued a strong appeal for both sides to uphold the ceasefire and allow humanitarian assistance to resume.

    Worst fears materialised

    Briefing the Security Council on the dire humanitarian situation, UN Emergency Relief Coordinator Tom Fletcher confirmed that Israeli forces had resumed widespread airstrikes, accompanied by new evacuation orders.

    “Our worst fears materialised,” he said, describing the renewed hostilities as a devastating setback to recent humanitarian efforts – marking the return to “abject fear” in Gaza.

    Mr. Fletcher reported that since 2 March, Israeli authorities had cut off all lifesaving supplies – food, medicine, fuel and cooking gas – into the Gaza Strip.

    “Food is rotting and medicines are expiring,” he warned, adding “our repeated requests to collect aid sitting at Kerem Shalom crossing have been systematically rejected.”

    Ceasefire gains reversed

    Mr. Fletcher further warned that that modest humanitarian gains made during the 42-day ceasefire had been wiped out.

    “During that period, over 4,000 trucks of aid per week entered Gaza. We reached two million people,” he said, noting also that 600,000 received polio vaccinations and maternity care for 5,000 births.

    “The suspension of aid and commercial materials is reversing that progress that we achieved during that brief period. Essential survival resources needed are now being rationed,” he added.

    Under-Secretary-General Fletcher briefs the Security Council.

    Concerns grow over West Bank

    The UN relief chief also highlighted worsening conditions in the West Bank, where 95 Palestinians, including 17 children, have been killed this year.

    Israeli military operations have intensified, deploying tanks for the first time in two decades. Around 40,000 Palestinians have been displaced and settlers have launched large-scale attacks on villages.

    “I also have grave concerns about the protection of civilians in the West Bank. The situation there is an urgent crisis that must be addressed with the necessary international attention,” Mr. Fletcher said.

    Call  for urgent action

    Mr. Fletcher concluded with a call for ambassadors to take three immediate steps: open Gaza’s border crossings to aid, renew the ceasefire and secure more funding for humanitarian operations.

    “The suffering of the people of the region must end. A renewed ceasefire is the best way of protecting civilians – in Gaza, in the occupied Palestinian territory (OPT) and in Israel – releasing hostages and detainees and allowing aid and commercial supplies in,” he said.

    MIL OSI United Nations News –

  • MIL-OSI Submissions: Australia – Beyond the belt: New hotspots emerge as movers migrate past commuter communities – CBA

    Source: Commonwealth Bank of Australia (CBA)

    Regional living prevails as CommBank and the Regional Australia Institute’s latest Regional Movers Index reveals Australians are migrating further afield. 

    The latest Regional Movers Index (RMI) report reveals the emergence of several new regional destinations, as communities beyond the traditional ‘commuter belt’ surge in popularity for newcomers. 

    The Regional Australia Institute (RAI) CEO Liz Ritchie said the Local Government Areas (LGAs) of Gympie in Queensland, Richmond Valley and Wingecarribee in New South Wales, and East Gippsland in Victoria have made their debut as hotspots in the December 2024 quarter RMI report, highlighting relocators’ appetites for destinations further afield. 

    “The desire for regional living remains strong, with 32 per cent more people moving from big cities to regions than in the opposite direction, building on pre-existing data which shows the nation’s migration patterns are changing,” Ms Ritchie said.  

     “Regional Australia is the new frontier, and people are enthusiastic about the career opportunities and lifestyle benefits it offers. The RMI’s net migration index, which measures net population flow into regional Australia, is now sitting 51 per cent above the pre-Covid average.  

     “The emergence of new mover hotspots further out shows this increase of population into Australia’s regions is not isolated to a couple of places, rather that it’s happening all over the country. It’s why we must ensure communities have the infrastructure, funding and support they need to ensure they can continue to welcome new residents.”  

    The RMI is a partnership between the RAI and the Commonwealth Bank of Australia (CBA), which analyses quarterly and annual trends in people moving to and from Australia’s regional areas.  

    This latest report signifies a change in mover preferences, with communities such as Queensland’s Sunshine Coast, which has been the nation’s most popular regional mover destination for nine consecutive quarters, gradually reducing its share of net internal migration.   

     CBA’s Acting Executive General Manager Regional and Agribusiness Banking, Josh Foster, said while the Sunshine Coast remains a firm favourite, other communities in the Sunshine State are gaining movers like nearby Gladstone, Toowoomba, Fraser Coast, Mackay and Gympie.  

    “The lure of the Sunshine State has long attracted both city and regional movers, with the latest RMI proving the appeal of a scenic and often more balanced lifestyle extends beyond metropolitan areas, bringing renewed economic and social benefits to other areas of the state.    

     “This quarter saw the rise in popularity of several new growth hotspots within regional Queensland, demonstrating the diversification of the state’s economy. Fraser Coast’s deep roots in agriculture and Gladstone’s mining and green energy boom are just some of the sectors helping drive increased employment opportunities to these regions. With lower-than-average employment rates and limited housing supply, more investment is needed in construction, manufacturing and property development to support these growing communities.”  

    Mr Foster added: “Continued development in roads and transport infrastructure like the Gympie bypass are also integral to improving accessibility to these thriving regions and offer businesses a commercial opportunity to expand or relocate beyond major metro areas. CBA is working closely with local government, key industries and business customers to unlock new areas of investment across the state.” 

     Regional New South Wales and Victoria accounted for 71 per cent of all net regional inflows in the December 2024 quarter, while Queensland’s share stood at 19 per cent and there were small gains made in regional South Australia, Tasmania and Western Australia.   

     Sydneysiders continue to lead the charge into the regions, accounting for 59 per cent of net city outflows, down from 65 per cent in the 2023 December quarter. Whilst Melbournians now account for 40 per cent of net city outflows, up from 35 per cent a year ago.  

     Ms Ritchie said this quarter’s report also highlighted city-dwellers are increasingly relocating to areas which have previously been more popular with regional movers, like Greater Bendigo and Maitland.  

     “It’s critical that decision-makers note this important, contemporaneous data to ensure plans can be made, both now and into the future for these growing communities. The better we are able to project Australia’s population movements, the better we can prepare for them, ensuring the needed skills and services are in the right place, at the right time,” Ms Ritchie said.  

    Mr Foster said regional Western Australia also continues to exhibit a strong lure for movers, including Albany, Bunbury, Harvey, Capel and York.  

    “Of note, Bunbury in the southwest corner of Western Australia has retained its position as the nation’s fastest growing hotspot for capital movers over the 12 month period to December 2024. The area’s appeal has been supercharged by major infrastructure developments such as the completion of the Wilman Wadandi Highway, helping ease travel times between city-to-region.  

     “The RMI has also shown that in this past quarter, people are willing to go further afield with the south coast LGA of Albany recording the third highest growth in net internal migration. Located almost five hours drive from Perth, Albany offers an idyllic lifestyle, reliable healthcare and education services, as well as strong employment opportunities across several sectors including agriculture, aquaculture, renewable energy and tourism.”  

    Mr Foster concluded: “This latest RMI proves that the great regional migration is being felt deep within our regions, with the economic and lifestyle gains no longer contained to areas within commuting distance. With the right commercial and industry investments, this offers a win-win for consumers as well as businesses.”    

    The December 2024 quarter saw a seasonal reduction in internal migration across all mover types, as people tend to stay put in the last three months of the year, with capital-to-regional migration as measured by the RMI down by 11 per cent.   

    Despite lower mobility across the country, capital-to-regional relocations remain 8 per cent higher than the pre-Covid average and 3 per cent higher than a year ago.  

    The reduction also of regional-to-regional and regional-to-capital relocations, suggests more regional movers are choosing to settle where they are, rather than relocate elsewhere.

    The Regional Movers Index, launched in 2021, tracks movements between Australia’s regions and capital cities, using Commonwealth Bank data from relocations amongst more than 14.3 million customers. This enables early identification of growth trends and flags places emerging as hot spots needing fresh thinking on housing and infrastructure.   

    Data based on CBA customer address changes over the past five years, with prior addresses resided in for at least six months. Greater Capital City/Regional Area based on ABS 1270.0.55.001 GCCSA. An LGA must have recorded net internal migration inflows in 2024 of 50 or more people to be included in the report.

    The RMI is used primarily to map population movements between Australia’s regional areas and its capital cities. For this reason, it uses an ABS classification of regional that includes areas in and around other centres of population, including the Gold Coast, Sunshine Coast, Newcastle, Wollongong and Geelong.  

    MIL OSI – Submitted News –

  • MIL-OSI Europe: Croatia’s investment momentum remains strong in 2024, but competitiveness challenges persist

    Source: European Investment Bank

    • Croatia’s economy grew steadily in 2024, supported by EU funds, the euro adoption, and financial instruments like EFSI and InvestEU
    • Key barriers: 84% of Croatian exporters face differing EU regulations, digital adoption lags behind (62% vs. EU’s 74%), and energy costs remain high.
    • A conference jointly organised with the Croatian National Bank explored the EIB Investment Survey 2024 for Croatia and the EIB Investment Report 2024/2025, highlighting solutions such as market integration, green investments, and mobilizing private co-investors.

    The Croatian economy kept the strong dynamic during 2024 after the rebound in 2022-2023. This was possible thanks to collective efforts by European Union Member States, the Recovery and Resilience Facility, EU funds and financial instruments like EFSI and InvestEU. Moreover, the euro adoption in Croatia represented a strategic shift and new business opportunities, driving the good investment momentum.

    Nevertheless, in the new geopolitical context, in order to increase competitiveness, the urgency of further action is enhanced both for the EU as a whole and for Croatia. According to the new EIB Investment Report 2024/2025, the solution toolkit comprises: (1) unlocking business opportunities via market integration and simplification (2) leveraging European strengths such as green leadership and an inclusive social model (3) maximising the impact of public-sector intervention through targeted support, EU coordination and focus on incentives that mobilise private co-investors.

    According to the latest EIBIS for Croatia, the business environment remains a concern. The availability of skilled staff, uncertainty about the future and energy costs remain the top three investment barriers while more than eight in 10 Croatian exporters (84%) report having to comply with different standards and consumer-protection rules across EU countries, above the EU average (60%). Moreover, there is a continued need of transformative investments as adoption of advanced digital technologies in Croatia is below EU peers (62% versus 74% respectively). Moreover, although most of Croatian firms (87%) have taken measures to reduce greenhouse gas emissions, in line with EU firms, there is still more to do for all EU countries. Croatian firms are also less likely than EU firms to have invested in sustainable transport options and energy efficiency.

    At an event in Zagreb organised jointly with the Croatian National Bank (CNB), the European Investment Bank (EIB) today discussed the  EIB Investment Survey 2024 for Croatia  and key policy messages of the EIB Investment Report 2024/2025: Innovation, integration and simplification in Europe, focusing on the new insights on Croatian companies’ challenges and opportunities.

    Opening remarks were made by EIB Vice-President Teresa Czerwińska, Croatian National Bank Governor Boris Vujčić and Deputy Prime Minister and Minister of Finance Marko Primorac. A presentation by Debora Revoltella, the EIB’s chief economist, assessed the state of the EU and Croatian economies through the EIBIS lens to understand their current performance, business prospects, concerns and enablers for a coordinated policy response.

    Croatian National Bank Governor Boris Vujčić said: “Croatia and the whole of Europe have been facing major challenges in preserving competitiveness in an unstable global environment. In order for Croatian companies to be able to leverage growth opportunities, it is necessary to provide them with access to venture capital and alternative financing sources as well as to strengthen links between European capital markets. This conference provides us with an opportunity to jointly discuss present obstacles and new solutions for the financing of growth and innovations in order to ensure that the Croatian economy remains competitive in a rapidly changing world.”

    EIB Vice-President Teresa Czerwińska said: “The EIB Investment Survey, conducted across all EU member states, provides a powerful policy tool to better understand the challenges and barriers, helping to create our strategy and to respond to the identified market gaps with targeted policy response. To address the gap of scale-up financing, the EIB Group provides a diversified type of financing for corporates: loans, guarantees, venture debt and private equity. For Croatia in particular, we reinforced during 2024 the innovation ecosystem with investments in equity funds through the Croatian Venture Capital Initiative 2 (CVCi 2) and the Croatian Growth Investment Programme II (CROGIP II), benefiting hundreds of startups and high-growth enterprises.”

    “In the context of mounting pressure from international competition, Europe could reinforce its position as a global technology leader by focusing on three areas: market integration, simplification and large-scale investment in innovation,” said EIB Chief Economist Debora Revoltella “For large-scale investments for innovation and transformation, European firms need market scale to remain globally competitive. Larger and deeper capital markets are instrumental to mobilising higher-risk finance for innovation and the green transformation.”

    The panel discussion in the second session of the conference, composed of representatives of the EIB Group and players in the local financial market such as the Zagreb Stock Exchange, the Croatian Financial Services Supervisory Agency (HANFA) and co-founders of innovative startups, discussed the availability of growth finance for Croatian firms, the role of the stock market, private equity funds and financial market integration and depth. Both the Croatian and the EU financial systems are still ill-suited to properly finance the green and digital transformations and the high-growth innovative segment, especially on the scale-up face. The European financial system depends heavily on banking and this focus continues to constrain specific investment as firms do not have many alternative funding sources to support risky investments, especially in the early stage of growth. Nevertheless, recent initiatives for alternative financing of Croatian firms are encouraging. Moreover, reducing the fragmentation of EU capital markets and simplifying regulation may offer a better and more productive use of Europe’s substantial savings.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –