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Category: Banking

  • MIL-OSI Economics: New Development Bank and Bank of Communications Financial Leasing Co., Ltd. sign USD 150 mln Equivalent in RMB Loan Agreement for the LNG Transportation Project

    Source: New Development Bank

    The New Development Bank (NDB) and the Bank of Communications Financial Leasing Co., Ltd. (BCFL) are pleased to announce the signing of a USD 150 mln equivalent in RMB 1,069.23 mln loan agreement aimed to acquire at least three liquified natural gas (LNG) carriers, addressing the significant increase in demand for LNG in China and closing the gap between demand and supply of LNG carrier capacity. The signing took place in the headquarters of NDB on February 21, 2025. Mr. Vladimir Kazbekov, NDB Vice President and Chief Operating Officer, and Mr. Jiuyong Yin, Vice President of Bank of Communications and Mr. Bin Xu, Chairman of BCFL participated in the signing.

    This is the first non-sovereign loan granted by NDB to a non-banking financial institution in China. The relationship between the Bank of Communications (BoCom) and NDB, both headquartered in Shanghai, reflects a longstanding and strategic partnership formalised with a Memorandum of Understanding signed in 2016. The partnership reached another significant milestone with NDB granting its first non-sovereign loan to a non-banking financial institution in China – BCFL, BoCom’s wholly owned subsidiary. This achievement highlights NDB’s dedication to supporting a diverse range of financial institutions and strengthening local markets.

    Under the terms of the loan agreement, NDB will provide USD 150 mln equivalent in RMB 1,069.23 mln loan to BCFL to acquire at least three LNG carriers, resulting in the expansion of its green leasing portfolio. The imports of LNG will help reduce China’s coal consumption and related Greenhouse Gas (GHG) emissions, which is in alignment with the “2030 Agenda for Sustainable Development” issued by the Chinese Government. Meanwhile, this batch of LNG carriers will be equipped with advanced propulsion systems, representing a significant improvement in the shipping industry in terms of efficiency, economies of scale and environmental performance.

    Aligned with the NDB’s General Strategy for 2022–2026, this loan promotes private sector participation in addressing infrastructure gaps and scaling up infrastructure investments, with a focus on enhancing development impact in the local market. Additionally, the loan reflects NDB’s commitment to supporting cleaner energy solutions, as it is tied to LNG-related projects that contribute to a lower-carbon energy mix. By utilizing local currency for financing, NDB reaffirms its strategic focus on expanding local currency operations over the 2022–2026 strategy cycle.

    “The non-sovereign loan provided by the New Development Bank to BCFL will significantly enhance its liquefied natural gas transportation capacity. It demonstrates NDB’s dedication to supporting China in reaching a peak in its carbon dioxide (CO2) emissions before 2030 and achieving carbon neutrality by 2060. This transaction will further strengthen the strategic partnership between NDB and BoCom. The LNG Transportation Project is aligned with NDB’s focus on supporting clean energy and energy efficiency projects as well as the Bank’s commitment to scale up non-sovereign operations,” said Mr. Vladimir Kazbekov, NDB VP & COO.

    “Thanks to NDB for choosing BoCom Financial Leasing, a subsidiary of BoCom, to cooperate. This loan is closely related to the national strategy of green and sustainable development and further consolidates the long-term strategic relationship between NDB and BoCom. As financial institutions both in Shanghai, we hope that the two parties will continue to cooperate in more areas such as bond underwriting, financial markets, and international business in the future,” said Mr. Ying, Vice President of BoCom.

    “We would like to thank NDB for its recognition and trust in BoCom Financial Leasing. BCFL continues to work on green and sustainable financial development, and the proportion of green leasing keeps growing. The loan funds from this cooperation will be used for the company’s three LNG ships built by Hudong-Zhonghua Shipbuilding Co., LTD. We take this as an important cooperation for the strategic partnership between BoCom and NDB,” stated Mr. Xu, Chairman of BCFL.

    Background Information

    New Development Bank

    NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

    For more information on NDB, please visit www.ndb.int

    Bank of Communications Financial Leasing

    BCFL was founded as a wholly owned subsidiary of BoCom in 2007 with the headquarter in Shanghai, China. It is one of the leading financial leasing companies in China and was one of five pilot financial leasing entities approved by the State Council of China. With the support from BoCom, it has grown rapidly since its incorporation and has become one of largest financial leasing companies in China. It operates in various sectors including aviation, shipping, and traditional leasing business.

    For more information on BCFL, please visit www.bocommleasing.com

    MIL OSI Economics –

    February 25, 2025
  • MIL-OSI China: G20 Finance Track meetings kick off, spotlighting growth challenges in developing countries

    Source: China State Council Information Office

    The Group of 20 (G20) Finance Track meetings kicked off Monday in Cape Town, the legislative capital of South Africa, with discussions focusing on the challenges and constraints to growth in developing countries, particularly in African countries.

    Addressing the opening of the G20 Finance and Central Bank Deputies Meeting, South African National Treasury Director-General Duncan Pieterse outlined key issues set for deliberation during the week-long discussions.

    Held at the Cape Town International Convention Center, the Finance and Central Bank Deputies Meeting is scheduled for Feb. 24-25, followed by the G20 Finance Ministers and Central Bank Governors Meeting on Feb. 26-27. These meetings aim to pave the way for collaborative solutions to pressing global challenges and sustainable development ahead of the G20 Summit.

    “South Africa has signaled a strong and keen intent to review the operational process of the G20. Last month, the G20 began its 26th year of operation; however, the operational processes of the G20 have rarely been reviewed,” said Pieterse.

    “In the coming months and following the discussions this week, the South African presidency working with the G20 membership will, for the first time, conduct a review of these processes and consider how to improve and strengthen them. We will also discuss various other opportunities for G20 engagement this year,” he said.

    South Africa assumed the G20 presidency on Dec. 1, 2024, becoming the first African country to hold the position. The presidency’s theme, “Solidarity, Equality and Sustainability,” underscores the country’s emphasis on inclusive global economic growth, with a focus on the world’s most vulnerable nations.

    He highlighted financing for development as a crucial issue for the world’s poorest and most vulnerable countries, saying, “We will also hold a very important meeting on the challenges and the constraints to growth in developing countries, including African countries.”

    Additional topics relevant to G20 members will also be on the agenda. 

    MIL OSI China News –

    February 25, 2025
  • MIL-OSI China: Hamas demands release of prisoners to resume Gaza peace talks

    Source: China State Council Information Office

    People welcome a released Palestinian prisoner in the West Bank city of Ramallah, Feb. 8, 2025. [Photo/Xinhua]

    Hamas on Monday said ensuring the agreed-upon release of more than 600 Palestinian prisoners by Israel is a prerequisite for further talks aimed at consolidating the ceasefire in Gaza.

    In a press statement, Bassem Naim, a senior Hamas official, said any future discussions with Israel would only proceed if Israel meets the key condition of releasing the prisoners.

    “Any indirect negotiations with Israel will only take place if a fundamental condition is fulfilled — the release of the over 600 Palestinian prisoners as agreed,” Naim said.

    Naim insisted that mediators — Egypt, Qatar, and the United States — must ensure Israel adheres to the terms of the agreement, which include releasing Palestinian prisoners.

    This statement came two days after Israeli Prime Minister Benjamin Netanyahu postponed the release of more than 600 Palestinian prisoners, which was part of the seventh batch of prisoner-for-hostage exchanges between Israel and Hamas.

    According to Netanyahu’s office, the delay was a response to what it described as “provocations” by Hamas, including the “disgraceful hostage release ceremonies that dishonor hostages and the cynical use of hostages for propaganda purposes.”

    Netanyahu’s office emphasized that the release of Palestinian prisoners would be contingent on guarantees from mediators that Hamas would not engage in similar acts of “provocation” in the future.

    The ceasefire, which followed 15 months of intense conflict in Gaza, was agreed by Hamas and Israel on January 15 and went into effect on January 19.

    MIL OSI China News –

    February 25, 2025
  • MIL-OSI China: Announcement on Open Market Operations No.37 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.37 [2025]

    (Open Market Operations Office, February 25, 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 RMB318.5 billion through quantity bidding at a fixed interest rate on February 25, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB318.5 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月25日

    MIL OSI China News –

    February 25, 2025
  • MIL-OSI Australia: Retail petrol prices lower across all capital cities and almost all regional locations in the December quarter

    Source: Australian Competition and Consumer Commission

    The quarterly average for retail petrol prices decreased in the December quarter 2024, hitting a three-year low in real (inflation adjusted) terms, the ACCC’s latest petrol monitoring report has found.

    Click to enlarge

    Average retail petrol prices across the five largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) were 179.8 cents per litre (cpl), a decrease of 3.0 cpl from the previous quarter.

    The decrease was largely due to lower international prices for refined petrol (Mogas 95). Mogas 95 prices are largely driven by international crude oil prices, which declined following slowing global oil demand together with increases in oil supply from Organisation of the Petroleum Exporting Countries (OPEC) members and some non-OPEC countries.

    “A range of international factors which influence the prices of commodities like crude oil have led to prices at the bowser easing from the higher levels that were seen in early 2024,” ACCC Commissioner Anna Brakey said.

    Lower average petrol prices in other capital cities and in regional locations

    Average retail petrol prices in Canberra, Hobart and Darwin also fell in the December quarter 2024. Average prices in Darwin were 168.9 cpl, the lowest of the eight capital cities.

    Average retail petrol prices across regional locations (in aggregate), fell to 179.5 cpl in the December quarter 2024, slightly below the average prices across the five largest cities. The ACCC monitors fuel prices of more than 190 regional locations across Australia.

    “It is pleasing to see that motorists had some relief when filling up at petrol stations across the country,” Ms Brakey said.

    Average petrol gross indicative retail differences increased

    Gross indicative retail differences are a broad indicator of gross retail margins, including retail operating costs and profits. Average gross indicative retail differences across the five largest cities were 17.2 cpl in the December quarter 2024, an increase of 1.6 cpl from the previous quarter.

    Quarterly average gross indicative retail differences can vary between cities, and were lowest in Perth (9.6 cpl) and highest in Brisbane (24.1 cpl).

    In 2024, annual average gross indicative retail differences across the five largest cities were 16.3 cpl, which is slightly higher than pre-pandemic levels in real (inflation-adjusted) terms.

    The following chart shows the changes in the components of average retail petrol prices across the five largest cities.

    Components of quarterly average retail petrol prices across the five largest cities

    Source: ACCC calculations based on data from Informed Sources, Argus Media, Ampol, bp, Mobil, Viva Energy, FuelWatch, the Reserve Bank of Australia and the Australian Taxation Office.

    Notes: cents per litre change from the previous quarter.

    *  Excise and wholesale goods and services tax (65.4 cpl) excludes a component of retail goods and services tax (1.5 cpl) in the above chart. This is for consistency in reporting gross indicative retail difference figures throughout this report, which include a small component of goods and services tax. Total excise and goods and services tax for both wholesale and retail (66.9 cpl) is shown in the petrol bowser in the ‘December quarter 2024 – Petrol snapshot’.

    Average diesel prices were lower in all capital cities, reflecting international trends

    Quarterly average retail diesel prices across the five largest cities were 177.1 cpl in the December quarter 2024, down 8.4 cpl from the September quarter 2024. Average retail diesel prices were also lower in Canberra, Hobart and Darwin.

    Retail diesel prices generally followed lower international diesel benchmark prices, which accounted for the largest component of retail diesel prices.

    Quarterly average retail diesel prices in capital cities in the December quarter 2024

    Source: ACCC calculations based on data from Informed Sources.

    Note: cents per litre change from the previous quarter.

    In real (inflation adjusted) terms, quarterly average retail diesel prices across the five largest cities were the lowest in over three years, when average diesel prices were 172.4 cpl in the September quarter 2021.

    More consumers are using fuel price apps

    Around two in five consumers (or 41 per cent) reported using fuel price apps to shop around for cheaper fuel in 2024, according to research published by the Australasian Convenience and Petroleum Marketers Association. This was up from 34 per cent in 2022.

    “Taking advantage of the available information through apps and websites can be well worth it to find retailers with lower fuel prices in your area and to save money on fuel,” Ms Brakey said.

    The ACCC also publishes up-to-date price charts, buying tips, and information on movements in the petrol price cycles that occur in Sydney, Melbourne, Brisbane, Adelaide and Perth, which can be helpful for consumers.

    The ACCC has championed greater fuel price transparency for consumers for some time.

    “We are aware that the Victorian Government recently announced a price transparency scheme to be phased in over 2025. Victoria is the only jurisdiction in Australia without a state or territory government fuel price transparency scheme,” Ms Brakey said.

    Note to editors

    ‘Petrol’ means regular unleaded petrol unless otherwise specified.

    Price changes are reported in nominal terms unless otherwise specified.

    Singapore Mogas 95 Unleaded (Mogas 95) is the relevant international benchmark for the wholesale price of petrol in Australia. Singapore Gasoil with 10 parts per million sulphur content (Gasoil 10 ppm) is the international benchmark for the wholesale price of diesel.

    Background

    The ACCC has been monitoring retail prices in all capital cities and over 190 regional locations across Australia since 2007.

    On 14 December 2022, the Treasurer issued a new direction to the ACCC to monitor the prices, costs and profits relating to the supply of petroleum products in the petroleum industry in Australia and produce a report every quarter for a further three years.

    MIL OSI News –

    February 25, 2025
  • MIL-OSI United Kingdom: UK businesses lead the way with record numbers of female leaders

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK businesses lead the way with record numbers of female leaders

    FTSE Women Leaders Review and UK Government publish latest report on women in leadership roles at FTSE350 companies.

    • UK leads the world in drive to increase the number of women on boards and in leadership at the top of firms. 

    • More than 60% of FTSE350 companies within striking distance of the 40% target for women’s representation in boardrooms 

    • Supporting women into leadership roles could unlock billions in economic growth and deliver on Plan for Change 

    Top British companies are continuing to lead the way for gender equality in boardrooms with women occupying nearly 43% of roles on company boards according to a new report published today (Tuesday 25 February).  

    The FTSE Women Leaders Review report for 2025, backed by the government and sponsored by sector giants Lloyds Banking Group and KPMG LLP, shows that women now occupy 1,275 or 43% of roles on company boards and 6,743 (35%) of leadership roles at the 350 FTSE companies.  

    This marks a year-on-year increase and means the target of 40% women’s representation by the end of this year continues to be achieved by FTSE350 businesses. The results of this review show the progress being made to break down barriers to opportunity at the highest levels, within some of the most innovative and important companies in the UK.  

    Delivering equal opportunities for women is at the heart of the government’s growth mission as part of the Plan for Change, by ensuring they have fair access to a stable, well-paid jobs which will also help drive up living standards. 

    At a London event this evening, business leaders, ministers and the leaders of the Review will come together to reflect upon and celebrate this progress as well as the contribution it is making to creating a stronger, more dynamic economy.  

    But the government recognises there is still more to do to bring more women into roles such as company Chairs and CEOs and to increase the number of women on boards and in leadership who hold executive roles. The government will work with FTSE companies and other organisations to ensure that everyone has an equal opportunity to achieve their full potential based on their talent.   

    Chancellor of the Exchequer Rachel Reeves said: 

    The UK is leading the charge for gender equality in boardrooms, but we cannot rest on our laurels.  

    We must break down the barriers that stop many women being represented in decision-making roles, so that top talent reaches the highest levels of leadership in businesses driving economic growth across Britain.

    Minister for Investment Baroness Gustafsson OBE said: 

    I know from founding my own business how strong female voices inspire positive change throughout an organisation, bringing new ideas and adding greater value. 

    Today’s report shows that whilst the momentum is with us, we have so much further to go. Working with business leaders and investors, we will do everything we can to unlock more opportunities for women at the highest levels as we go for growth and deliver our Plan for Change.  

    The UK’s approach to gender equality in boardrooms is setting an international precedent for inclusive business, coming second only to France in the G7, with 43.4% representation compared to 45.4%.  

    Whilst France and many other countries employ the use of quotas, the action taken by British companies has been entirely voluntary demonstrating the ability of the private sector to lead the way, alongside government support, but without overburdening regulation. 

    By leading the way and committing to improving gender equality companies are demonstrating the market value of increased representation of women in senior roles and the diversity of thinking that this brings, trickling down into small and medium sized businesses who look to replicate this success. 

    The government’s flagship Employment Rights Bill and Plan to Make Work Pay will further strengthen women’s rights in the workplace and increase protections for women going through the menopause, as well as protections from dismissal whilst pregnant or on maternity leave. 

    Vivienne Artz, CEO of the FTSE Women Leaders Review, said: 

    In an increasingly disruptive world in which companies are faced with a combination of economic, geo-political and technological change British businesses are setting an international standard for balanced and inclusive leadership.  

    With its unique Government-backed and business-led voluntary approach, the UK has spearheaded a world-leading transformation in the highest ranks of industry. Whilst FTSE 350 company boards are now gender-balanced, sustained effort and determination is required to achieve the 40% target for women in leadership by the end of this year.  

    We look forward to working with businesses to deliver on this ambition.

    Penny James and Nimesh Patel, Co-Chairs of the FTSE Women Leaders Review, said: 

    The UK is nothing short of world-leading in driving gender balance at the top of business with business leaders delivering change through voluntary action rather than quotas. Despite many competing priorities companies continue to see equality of opportunity as key to improving productivity and achieving growth.  

    Balance on FTSE 350 boards has been achieved and women’s representation on executive teams is steadily increasing but a step-up in commitment is required to deliver parity in the key leadership roles.  

    Over the coming year we urge UK business to remain focused on sustaining momentum, harnessing all of the available talent and driving towards a business environment that offers opportunity for all. 

    NOTES TO EDITORS:  

    • The FTSE Women Leaders Review (the Review) is sponsored by Lloyds Banking Group and KPMG LLP.  

    Sir Robin Budenberg, Chair of Lloyds Banking Group, said: 

    As proud co-sponsor of the FTSE Women Leaders Review, we applaud the significant progress made over the years in increasing gender balance on both the boards and leadership teams of the UK’s biggest companies.  

    A strong, diverse workforce is fundamental to business success. When leadership reflects the society it serves, companies are better equipped to understand their customers, drive innovation and deliver long-term sustainable growth. And if business does not employ the full breadth of society, it will not benefit from all the talent available.  

    At Lloyds Banking Group we have a gender-balanced board and over 45% representation of women at leadership level but we recognise that progress is neither linear nor inevitable. The responsibility lies with all of us to lead inclusively and to keep gender equality at the top of the agenda. By doing so, we strengthen our businesses and help build a more dynamic, successful economy. 

    Bina Mehta, Chair of KPMG LLP, said: 

    With the final year of the FTSE Women Leaders Review ahead, I’m delighted we have continued to make substantial progress in achieving greater gender balance in senior roles, something that reflects many years of voluntary effort and collective action.  

    It’s particularly encouraging to see the progress made by the UK’s Top 50 Private companies in their first three years of reporting. These companies are keeping pace with the FTSE100 and are currently reporting 35% of Executive Committee roles are held by women.  

    As Chair of KPMG UK, I am proud that our firm continues to grow the number of women in leadership roles, maintaining our position in the ‘Top Ten Best Performers’. As a firm we recognise the importance of creating an environment where everyone can succeed and thrive.  

    With the country’s renewed focused on economic growth, if businesses continue to work together, we can help to deliver long term prosperous and sustainable growth.

    The Review 

    The FTSE Women Leaders Review is the independent, business-led framework supported by the Government, which sets recommendations for Britain’s biggest companies to improve the representation of women on their boards and leadership teams. The scope of the Review covers the FTSE 350 and 50 of the UK’s biggest private companies.  

    Adopting a voluntary approach, the Review captures and publishes progress on 26,000 roles on boards and in leadership two layers below the board, across all sectors of British business on an annual basis.  

    Women on Boards: 2024  

    1. Reported numbers for Women on Boards of FTSE 350, as of 10th January 2025, show: 

    Source – BoardEx: 

    • FTSE 100 is at 44.7%, up from 42.6% in 2023  

    • FTSE 250 is at 42.6%, up from 41.8% in 2023 

    • FTSE 350 is at 43.4.%, up from 42.1% in 2023  

    • 50 largest UK private companies are at 30.5% (30.6% in 2023) 

    1. Almost three quarters of FTSE 350 Boards (73.4%) have met or exceeded the current 40% target with that number now standing at 257 up from 235 in 2023. 

    2. The UK FTSE 350 is in 2nd place when compared internationally to the G7 countries but this is being achieved at a greater scale and through entirely voluntary action as opposed to mandatory quota systems. In the UK 350 companies are in scope compared with 40 in France which has quota legislation in place.  

    3. FTSE 100 companies top the rankings for women on boards compared with international indices including the Euronext 100, IBEX and S&P ASK FTSE 100: 44.7% v Euronext 100: 42.2%, IBEX: 40.9% S&P ASX: 40.2% 

    Women in Leadership: 2024  

    1. Reported numbers for Women in Leadership (defined as the Executive Committee & Direct Reports to the Executive Committee on a combined basis) show:  

    Source – FTSE Women Leaders, Leadership Data Collection Portal as at 31 October 2024: 

    • FTSE 100 is at 36.6% up from 35.2% in 2023 

    • FTSE 250 is at 34.2% up from 33.9% in 2023 

    • FTSE 350 is at 35.3% up from in 34.5% in 2023 

    • 50 largest UK private companies are at 36.8% up from 35.6% in 2023 

    Four Key Roles: 2024  

    1.   Women continue to be appointed to the Chair role with a gain of seven FTSE 350 women Chairs in 2024. As a result, the number of women in the Chair role in the FTSE 350 has increased from to 53 in 2023 to 60 in 2024 (17%).  

    2.   The number of women SIDs has increased to 192 across the FTSE 350 in 2024, up from 162 in 2023. Now over half of FTSE 350 companies (56%) have a woman SID. 

    3.   The percentage of women Finance Directors in the FTSE 350 has increased from 48 in 2023 to 57 in 2024 (22%). 

    4.   FTSE 350 women CEOs have reduced from 20 in 2023 to 19 in 2024. 

    The Recommendations for the Review  

    There are four Recommendations that were announced in February 2022 to fuel further progress in delivering gender balance at the top of British business: 

    • The voluntary target for FTSE 350 Boards and Leadership teams was increased to a minimum of 40% women’s representation by the end of 2025. 

    • Companies should have at least one woman in the Chair, Senior Independent Director role on the board and/or one woman in the Chief Executive Officer or Finance Director role by the end of 2025. 

    • Key stakeholders should continue to set best-practice guidelines or use alternative mechanisms to encourage any FTSE 350 Board that has not yet achieved the previous 33% target for the end of 2020, to do so.  

    • The scope of the Review is extended beyond FTSE 350 companies to include 50 of the UK’s largest private companies.

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    Published 25 February 2025

    MIL OSI United Kingdom –

    February 25, 2025
  • MIL-OSI USA: Barrasso, Lummis Join Colleagues in Urging ATF to Rescind Biden’s Anti-2A Rules

    US Senate News:

    Source: United States Senator for Wyoming John Barrasso

    WASHINGTON, D.C. – U.S. Senator John Barrasso, Senate Majority Whip, and U.S. Senator Cynthia Lummis, both R-Wyo., joined U.S. Senator John Cornyn (R-Texas) and their Republican colleagues in sending a letter to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) urging the agency to align with President Trump’s Second Amendment priorities laid out in his recent Executive Order.

    The letter also urged ATF Deputy Director Marvin Richardson to identify and rescind former President Biden’s unlawful firearm regulations, including the “Engaged in the Business” rule, pistol brace rule, so-called “ghost gun” rule, and “zero tolerance” policy under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations.

    “On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights. We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment,” the senators wrote.

    “Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies.”

    Co-signers of this letter include Senate Majority Leader John Thune (R-S.D.) and U.S. Senators Thom Tillis (R-N.C.), Cindy Hyde-Smith (R-Miss.), Shelley Moore Capito (R-W.Va.), Jim Justice (R-W.Va.), Jim Risch (R-Idaho), Steve Daines (R-Mont.), Ted Cruz (R-Texas), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), James Lankford (R-Okla.), John Hoeven (R-N.D.), Roger Marshall (R-Kan.), Rick Scott (R-Fla.), Lindsey Graham (R-S.C.), Ted Budd (R-N.C.), Bill Hagerty (R-Tenn.), Tim Sheehy (R-Mont.), Pete Ricketts (R-Neb.), Bill Cassidy (R-La.), Joni Ernst (R-Iowa), Marsha Blackburn (R-Tenn.), Todd Young (R-Ind.), Markwayne Mullin (R-Okla.), Deb Fischer (R-Neb.), Jim Banks (R-Ind.), and Jerry Moran (R-Kan.).

    Full text of the letter can be found here.

    Dear Deputy Director Richardson:

    Thank you for your service in leading the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) during the presidential transition. On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights. We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment.

    Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies. In particular, we call your attention to the following anti-Second Amendment regulations and policies, which must be immediately rescinded:

    • The engaged in the business rule, which is an unconstitutional attempt to move ATF to do all it can to impose universal background checks on law-abiding Americans. ATF has been enjoined, at least temporarily, from enforcing the rule because it violated the text of the Gun Control Act.
    • The pistol brace rule, which improperly reclassifies pistols equipped with stabilizing braces as “short-barreled rifles” (SBRs), thereby subjecting them to stringent regulations and serious criminal penalties under the National Firearms Act and the Gun Control Act. We are troubled by the fact that ATF promulgated this rule after it previously determined that attaching a stabilizing brace to a pistol did not render the pistol an SBR. This rule threatens to put stabilizing braces out of reach of millions of gun owners, including disabled combat veterans who rely on them to be able to shoot heavy pistols. Furthermore, the rule made law-abiding Americans felons overnight for having lawfully purchased stabilizing brace equipped pistols. Multiple courts have already found the rule to be arbitrary and capricious under the Administrative Procedure Act, and it was ordered vacated by the U.S. District Court for the Northern District of Texas. We appreciate the Government’s recent motions to hold ATF’s 5th and 11th Circuit appeals defending the rule in abeyance and to postpone oral argument, and ATF should work quickly to accede to the vacatur given the ongoing litigation.
    • The so-called “ghost gun” rule, which cracks down on law-abiding hobbyists who are exercising their Second Amendment rights to privately build firearms—a longstanding tradition that traces back to the Colonial Era. The regulations are currently before the Supreme Court, but ATF should act immediately to rescind this rule.
    • The “zero tolerance” policy, under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations. This policy violates a decades-long precedent of ATF working with FFLs to address these minor, unintentional violations and revoking FFL licenses only in cases of major, willful violations that threaten public safety. ATF should develop a program to restore the federal firearms licenses of those FFLs whose licenses were unfairly revoked—or surrendered under duress—where they did not engage in willful conduct (as understood prior to June 23, 2021, when the policy was announced) and do not represent at threat to public safety.

    In addition to promptly rescinding these rules and policies, we urge you to immediately destroy the hundreds of millions of ATF Form 4473 firearm transaction records and other licensee records that are over 20 years old. These records have no particular law enforcement value but do contain the sensitive information of millions of law-abiding gun owners. ATF should likewise return to the policy of allowing FFLs to destroy Form 4473 in their possession that are over 20 years old, which the Biden Administration initiated in violation of the federal prohibition on gun registration. Ending the policy of retaining these very old records will save money for the American taxpayer and counteract ATF’s unconstitutional rule change.

    Furthermore, we urge you to “continue collaboration to improve the process for” National Firearms Act applications. Congress recently instructed ATF to make these improvements. While NFA wait times have improved significantly, ATF must continue to “address ongoing delays in application processing times” until the archaic process is at least as efficient as the National Instant Criminal Background Check System. There is no reason that the right to purchase a firearm should be so greatly delayed; a right delayed is a right denied.

    The foregoing should not be considered a full accounting of every action or policy for which ATF may be held responsible under President Trump’s Executive Order but represent obvious and high priority places for ATF to initiate compliance.

    We look forward to working with you through the transition as you implement President Trump’s agenda and reorient ATF toward protecting Americans’ Second Amendment rights.

    MIL OSI USA News –

    February 25, 2025
  • MIL-OSI Economics: African Development Bank and global public development banks to convene in Cape Town to advance climate resilience

    Source: African Development Bank Group

    WHAT:            Finance in Common Summit 2025

    WHEN:           February 26-28, 2025

    WHERE:         Cape Town, South Africa

    WHO:             The African Development Bank; senior leaders of 530 public development banks                                   representing 155 countries; global development and finance leaders

    The Fifth Finance in Common Summit (FiCS), co-hosted by the Development Bank of Southern Africa (DBSA) and the Asian Infrastructure Investment Bank (AIIB) with the support of Agence Française de Développement (AFD), will take place this year in Cape Town, South Africa from 26-28 February. The African Development Bank is a sponsor for the event.

    The African Development Bank President Dr Akinwumi Adesina will lead a delegation to the summit which has the theme, Fostering Infrastructure and Finance for Fair and Sustainable Growth. The theme aligns with the objectives of South Africa’s presidency of the G20: Solidarity, Equity, Sustainability.

    Dubbed a “Summit of Solutions,” the event will bring together institutions that manage US$23 trillion in assets (10% of global investments) to address critical infrastructure needs in climate-vulnerable regions and advance financial innovation and sustainable development, focusing on Africa and developing Asian nations. It will focus on three critical pillars: inclusive finance to reduce inequality, digital transformation to bridge technological gaps, and climate-resilient infrastructure development, all aimed at creating a more equitable and sustainable world.

    The African Development Bank delegation also includes Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialization; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Hassatou Diop N’Sele, Vice President for Finance and Chief Financial Officer; Leila Farah Mokaddem, Director General for Southern Africa and Moono Mupotola, Deputy Director General for Southern Africa, who will be speaking at sessions across the three days.

    The Finance in Common Summit, launched in 2020, represents the world’s largest gathering of public development banks.

    To request media interviews with members of the Bank’s delegation, please email the contact below.

    Click here to register for the event and more information.

    Join the conversation: #FiCS2025 #SustainableFinance

    MIL OSI Economics –

    February 25, 2025
  • MIL-OSI United Nations: World News in Brief: Famine in Sudan, Gaza polio campaign continues, West Bank update, Kenyan officer killed in Haiti

    Source: United Nations 2

    24 February 2025 Peace and Security

    Secretary-General António Guterres expressed deep concern on Monday following the announcement by Sudan’s Rapid Support Forces (RSF) militia and affiliated groups, of a political charter proposing the establishment of a rival governing authority in RSF-controlled areas to the transitional Government.

    He warned in a statement issued by his spokesperson that this further escalation of the battle for the country between Government troops and their former RSF allies, deepens the fragmentation of Sudan and risks entrenching the crisis even further.

    Sudan is in the grip of a catastrophic crisis as “bloodshed, displacement and famine are engulfing the country,” he said earlier at the opening of the latest UN Human Rights Council session in Geneva.

    Preserving the nation’s unity, sovereignty and territorial integrity remains crucial for a sustainable resolution and long-term stability in Sudan and the wider region.

    The Secretary-General also condemned the persistent violence against civilians perpetrated by both sides of the conflict – including ethnically motivated attacks – with Sudanese civilians paying the highest price for the ongoing war.

    His Personal Envoy for the Sudan, Ramtane Lamamra, is actively engaging the warring parties and relevant stakeholders to secure a cessation of hostilities, protect civilians, ensure humanitarian access, and promote de-escalation, the UN chief’s statement said.

    Gaza and the West Bank: Health campaigns and humanitarian relief

    In Gaza, the emergency polio outbreak response continues, with a mass vaccination campaign which began on Saturday scheduled to run until 26 February.

    The novel oral polio vaccine is set to be administered to more than 591,000 children under the age of 10, targeting those previously missed, in order to close immunity gaps and halt the outbreak.

    “Over 261,000 children in Gaza received their polio vaccine on the first day of the campaign, despite all challenges,” noted a representative of the UN Children’s Fund (UNICEF).

    Since the ceasefire took effect, UN humanitarian partners have distributed tents, sealing materials, and tarpaulins to families – particularly in northern Gaza.

    Additionally, over 80,000 children have been screened for malnutrition, and thousands of families have received hygiene kits and water supplies.

    OCHA emphasised that sustaining these humanitarian efforts will require continued international funding and a lasting ceasefire.

    Meanwhile, the World Food Programme (WFP) said on Monday the ceasefire has enabled it to reach one million people across Gaza with food assistance, including fresh bread, hot meals and cash support, while preparing to extend its reach further across both Gaza and the West Bank.

    West Bank turmoil continues

    Nevertheless, OCHA has confirmed that Israeli forces continue operations in northern areas of the West Bank, with reports of home demolitions in the Tulkarm refugee camp adding to displacement and destruction.

    Mr. Guterres called for “a permanent ceasefire” in Gaza and “the dignified release of all remaining hostages”.

    Kenyan police officer killed in a Haiti anti-gang operation

    A Kenyan police officer serving with the Security Council-backed Multinational Security Support Mission (MSS) in Haiti died on Sunday after sustaining injuries during an anti-gang operation in the lower Artibonite region, marking the mission’s first casualty.

    The officer was wounded during a security operation in Pont Sonde, as part of efforts to curb escalating gang violence. In a statement, the MSS confirmed the death, expressing condolences to his family and colleagues.

    Mr. Guterres also reacted to the news, saying he was “deeply saddened” by the officer’s death and extended his sympathies to “the family of the police officer, the people and Government of Kenya, and of course all of his colleagues in the MSS.”

    The tragic incident comes amid worsening insecurity in Haiti, where gangs control large parts of the country.

    Speaking in Geneva, Mr. Guterres underscored the severity of the crisis. “In Haiti, we are seeing massive human rights violations – including more than a million people displaced, and children facing a horrific increase in sexual violence and recruitment into gangs,” he said.

    To address the crisis, the Secretary-General announced plans to propose new measures to the Security Council, including strengthening support for the MSS, the Haitian National Police, and Haitian authorities.

    “A durable solution requires a political process – led and owned by the Haitian people – that restores democratic institutions through elections,” he added.

    The officer’s death highlights the growing dangers facing international forces deployed to stabilise the country. 

    MIL OSI United Nations News –

    February 25, 2025
  • MIL-OSI: Skyline Bankshares, Inc. Announces Appointment of Director

    Source: GlobeNewswire (MIL-OSI)

    FLOYD, Va. and INDEPENDENCE, Va., Feb. 24, 2025 (GLOBE NEWSWIRE) — Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”), announces the appointment of Israel O’Quinn as a director of the Company and the Bank effective immediately. The Company’s Board of Directors approved the appointment on February 18, 2025.

    Mr. O’Quinn is President and CEO of The United Company Foundation as well as the James W. and Francis G. McGlothlin Foundation.  He has also served as an elected member of the Virginia House of Delegates since 2011.  For almost all of his tenure in the House of Delegates, Mr. O’Quinn has been a member of the Commerce and Energy committee, among others, which has provided him an in-depth knowledge of the laws and regulations related to banking and other businesses.  Before his current role leading the two charitable foundations, Mr. O’Quinn was a key executive at KVAT Food Stores (Food City) for seventeen years, serving in roles of increasing responsibility across the organization, including strategy, regulatory issues and community relations.  Born and raised in Southwest Virginia, and having represented the area for over a decade in the legislature, he is well-versed in the needs and opportunities of the region.  Mr. O’Quinn is a member of the Emory & Henry University Board of Trustees and he earned Bachelors Degrees in Political Science and History from the college.  In addition to his legislative and professional work, Mr. O’Quinn has served on a number of other boards and commissions, including as Chairman of the Bristol Chamber of Commerce, and provided leadership to economic development projects as Co-Chair of InvestSWVA. 

    President and CEO Blake Edwards stated, “Israel’s professional experience, service in the legislature, and in-depth knowledge of the region, will make him a tremendous addition to Skyline as we continue to expand our presence in the southwest Virginia and eastern Tennessee markets. We are excited to welcome Israel to the Skyline family.”

    Skyline National Bank is the wholly-owned subsidiary of Skyline Bankshares, Inc. and serves southwestern Virginia, northwestern North Carolina, and eastern Tennessee with 28 branches and 2 loan production offices.

    For more information contact:
    Blake Edwards, President & CEO – 276-773-2811
    Lori Vaught, EVP & CFO – 276-773-2811

    The MIL Network –

    February 25, 2025
  • MIL-OSI: Skyline Bankshares, Inc. Announces Semi-Annual Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    FLOYD, Va. and INDEPENDENCE, Va., Feb. 24, 2025 (GLOBE NEWSWIRE) — Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”), announces a semi-annual cash dividend on the Company’s common stock of $0.25 per share, payable March 24, 2025 to shareholders of record on March 14, 2025. The Company’s Board of Directors declared the dividend on February 18, 2025.

    Skyline National Bank is the wholly-owned subsidiary of Skyline Bankshares, Inc. and serves southwestern Virginia, northwestern North Carolina, and eastern Tennessee with 28 branches and 2 loan production offices.

    For more information contact:
    Blake Edwards, President & CEO – 276-773-2811
    Lori Vaught, EVP & CFO – 276-773-2811

    The MIL Network –

    February 25, 2025
  • MIL-OSI: Dave to Participate in Upcoming Investor Conferences in March

    Source: GlobeNewswire (MIL-OSI)

    Los Angeles, California , Feb. 24, 2025 (GLOBE NEWSWIRE) — Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced that the Company will participate in two upcoming investor conferences in March 2025.

    • The Citizens JMP Technology Conference is being held March 3-4 at The Ritz-Carlton in San Francisco, CA. The Company will participate in a fireside chat at 12:30pm PT and hold 1×1 meetings throughout the day on March 4. Please click here to view the live event. A replay of the presentation will also be available on the Dave investor relations website at investors.dave.com.
    • The Wolfe Research FinTech Forum is being held March 11-12 at the Lotte New York Palace in New York, NY. The Company will participate in an investor presentation and hold 1×1 meetings throughout the day on March 12.

    To request a meeting with the Dave team, please contact your respective conference representative or email the Company’s investor relations team at DAVE@elevate-ir.com.

    About Dave

    Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, a FDIC member. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.

    Investor Relations Contact

    Sean Mansouri, CFA
    Elevate IR
    DAVE@elevate-ir.com

    Media Contact

    Dan Ury
    press@dave.com

    The MIL Network –

    February 25, 2025
  • MIL-OSI Video: RBNZ What’s happening with interest rates, inflation and the economy? – RBNZ Chief Economist Paul Conway

    Source: Reserve Bank of New Zealand (video statements)

    Hear from our Chief Economist Paul Conway in this video about
    •What’s happening with inflation both here in New Zealand and abroad (00:46)
    •Where the economy’s at and likely headed over 2025 (02:56)
    •Why the Official Cash Rate was cut by 0.5 percentage points and its possible future direction. (4:30)

    https://www.youtube.com/watch?v=VE2jUANrwT0

    MIL OSI Video –

    February 25, 2025
  • MIL-OSI Europe: EIB Global channelled €693 million to the countries of the Western Balkans in 2024

    Source: European Investment Bank

    • EIB Global invested €527 million in loans for new projects, mobilising nearly €3.1 billion in new investment, supported by €166 million in grants
    • New projects will accelerate the green transition and promote the competitiveness of economies.
    • The Bank continued its support for energy efficiency and renewable energy projects, reaching a record €213 million in signed agreements in 2024

    In 2024, the European Investment Bank Group (EIB Global) financing for new projects reached €693 million in loans and grants for the countries of the Western Balkans for energy security, sustainable transport, climate action, digital and human capital development. Out of these funds, €527 million have been signed in loans, €164 million in EU grants under the Western Balkans Investment Framework (WBIF) and €2 million in grants under the EIB’s Economic Resilience Initiative. The largest share of new signatures was allocated to sustainable transport (43%), clean energy projects (31%, a record) and the private sector (20%).

    “We are fully committed to supporting all countries in the region on their path to EU integration” remarked EIB Vice-President Robert de Groot. “Achieving higher convergence requires significant reforms and investments, which is why combined financial and technical support under the Team Europe umbrella provides a coherent, continuous and extensive support. The latest Growth Plan exemplifies initiatives that can accelerate market integration, economic growth, and EU accession ambitions.”

    Supporting energy projects

    In the energy sector, the Bank provided €213 million in loans for projects such as the rehabilitation of several large hydropower plants and the installation of advanced electricity meters in Serbia, as well as the construction of one of the largest solar photovoltaic plant near Pristina in Kosovo. The plant will address the energy needs of over 29 000 households and cut 174 000 tonnes of carbon dioxide emissions annually.

    “As the EU Climate Bank, we have intensified our efforts to promote a green transition in each and every country and are steadfast in our commitment to support the decarbonisation of regional economies to ensure energy security and reduce environmental pollution,” said Vice-President De Groot.

    The bank also made available  the Greening Financial Systems (GFS) advisory programme in North Macedonia and Albania to enhance national and local banks’ climate risk management practices and stimulate green investments among companies. Several EIB-financed projects benefited from technical assistance under the WBIF and the Joint Assistance to Support Projects in European Regions (JASPERS) advisory program. Since the signing of its third mandate in autumn 2023, JASPERS experts have been working on 32 advisory assignments across the Western Balkans, covering transport, water, energy, urban, and digital sectors.

    Advancing sustainable connectivity

    In 2024, EIB Global continued to support the transport sector with €295 million in new financing, for projects such as the rehabilitation of railway sections in Albania and Montenegro. These infrastructure improvements along the extended Trans-European Transport Network (TEN-T) will increase railway capacity, efficiency, and safety, promoting a shift from road to sustainable mobility and generally improve regional connectivity. The bank signed a €79 million EU grant for the construction of the section on the Corridor Vc in Bosnia and Herzegovina.

    Driving job creation and climate action among regional companies

    The bank invested €151 million to support the expansion of, and investments in innovation and clean energy projects among local companies, creating employment and economic growth in the region. Thanks to the first impact-based credit line, small businesses in the region have created new jobs, training and career development opportunities for people from vulnerable groups. In addition, under the EU’s “WB EDIF Guarantee Facility for SME Resilience”, the European Investment Fund, part of the EIB Group, provided guarantees to local banks, which are expected to unlock over €750 million worth of loans to some 13 000 small businesses, sustaining around 180 000 jobs.

    Background information

    About the EIB

    The European Investment Bank 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 projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.  

    The EIB is one of the leading international financiers in the Western Balkans. For detailed information on the EIB’s activities in this region, visit www.eib.org/en/publications/the-eib-in-the-western-balkans.

    About the EIF

    The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

    MIL OSI Europe News –

    February 25, 2025
  • MIL-OSI United Nations: Human Rights Council Opens Fifty-Eighth Regular Session and Holds Minute of Silence for Victims of Human Rights Violations

    Source: United Nations – Geneva

    The Human Rights Council this morning opened its fifty-eighth regular session, hearing statements from the President of the General Assembly, the United Nations Secretary-General, the United Nations High Commissioner for Human Rights, and the Head of the Federal Department of Foreign Affairs of Switzerland.  The President of the Council called for a minute of silence for victims of human rights violations around the world. 

    Jürg Lauber, President of the United Nations Human Rights Council, declared the fifty-eighth session of the Human Rights Council open, saying they were gathered at a time of profound global challenges and an alarming backlash against human rights around the world.  The Council’s responsibility was to make a tangible impact on people’s lives.  Victims of human rights violations needed to be at the centre of discussions.  The international community needed to rise to the challenge and reaffirm that human rights were not optional; they were essential for peace, security and development. 

    Philemon Yang, President of the General Assembly, said the three pillars of the United Nations were deeply interwoven.  Upholding human rights was fundamental to achieving lasting peace and security, and constituted a sound basis for the realisation of the 2030 Agenda for Sustainable Development.  The world faced serious global challenges and was witnessing a sharp decline in human rights, with growing violations and often brazen disregard for international humanitarian law.  The human suffering and destruction of civilian infrastructure in Gaza, Ukraine, Sudan, Haiti and the Democratic Republic of the Congo were intolerable; these injustices must end.  Mr. Yang said protecting human rights and dignity was a cornerstone of his role as President of the General Assembly. 

    António Guterres, United Nations Secretary-General, said the session was beginning under the weight of a grim milestone: the third anniversary of Russia’s invasion of Ukraine, in violation of the United Nations Charter.  Human rights were the oxygen of humanity.  But one by one, human rights were being suffocated: by autocrats; by a patriarchy that kept girls out of school, and women from basic rights; by wars and violence; by warmongers who disregarded international law and the United Nations Charter; by the climate crisis; by a morally bankrupt global financial system; by runaway technologies like artificial intelligence; by growing intolerance against entire groups; and by voices of division and anger.  This represented a direct threat to all the hard-won mechanisms and systems established over the last 80 years to protect and advance human rights. 

    Volker Türk, United Nations High Commissioner for Human Rights, said the international system was going through a tectonic shift, and the human rights edifice built up over decades had never been under so much strain.  Last year, the Office contributed to the release of some 3,145 arbitrarily detained people and took part in some 11,000 human rights monitoring missions.  It also observed nearly 1,000 trials, and documented some 15,000 situations of human rights violations around the world.  Mr. Türk said upholding human rights made eminent sense for stability, for prosperity, for a better common future, and was a winning proposition for humanity. 

    Ignazio Cassis, Head of the Federal Department of Foreign Affairs of Switzerland, said today, he had mixed feelings.  He was proud because Switzerland had been elected to the Human Rights Council and because Ambassador Lauber had been elected as the Council’s President, the first appointment of a Swiss President to the Council.  However, Mr. Cassis said, he was also deeply concerned as they lived in a time of global uncertainty, influenced by the climate crisis and global authoritarianism; a large portion of the global population lived under authoritarian rule. In this context, the Council had a duty to act. 

    The webcast of the Human Rights Council meetings can be found here.  All meeting summaries can be found here.  Documents and reports related to the Human Rights Council’s fifty-eighth regular session can be found here.

    The fifty-eighth session of the Council is being held from 24 February to 4 April.  At 10 a.m., the Council started its high-level segment.

    Opening Remarks by the President of the Council

    JÜRG LAUBER, President of the United Nations Human Rights Council, declared the fifty-eighth session of the Human Rights Council open.  They were gathered at a time of profound global challenges and an alarming backlash against human rights around the world.  All needed to reflect on whether they were doing enough to protect the most vulnerable.  When human rights weakened, conflicts escalated, and societies fractured. Today, they were seeing this play out in real time with the escalation of violations and the shrinking of human rights protections.  This required an urgent response.  The Council’s responsibility was to make a tangible impact on people’s lives. Victims of human rights violations needed to be at the centre of discussions.  Their dignity needed to be everyone’s priority, Mr. Lauber said.

    Mr. Lauber said all needed to rise to the challenge and reaffirm that human rights were not optional; they were essential for peace, security and development. They needed to engage in earnest discussions and ensure that their words translated into actions, he concluded.

    At the request of the President, the Council held a minute’s silence in memory of victims of human rights violations around the world.

    Statements by Keynote Speakers

    PHILEMON YANG, President of the General Assembly, congratulated the President of the Council and the Bureau on their election. The three pillars of the United Nations were deeply interwoven.  Upholding human rights was fundamental to achieving lasting peace and security, and constituted a sound basis for the realisation of the 2030 Agenda for Sustainable Development.  The world faced serious global challenges and was witnessing a sharp decline in human rights, with growing violations and often brazen disregard for international humanitarian law.  Those violations had devastating consequences: more than 300 million people now required humanitarian assistance.  In every conflict, the victims were often women, children and minorities who bore the heaviest burden.  The human suffering and destruction of civilian infrastructure in Gaza, Ukraine, Sudan, Haiti and the Democratic Republic of Congo were intolerable; these injustices must end.  Even war had rules.  Civilians must never be targets. 

    The recent special session and the establishment of an independent fact-finding mission to investigate and document violations in the eastern Democratic Republic of the Congo were good symbols.  The Council had demonstrated its availability to act swiftly and uphold accountability.  The recent ceasefire and hostage release deal in Gaza offered a glimmer of hope.  Just and lasting peace in the Middle East depended on the two State solution, which would allow Israel and Palestine to exist in peace and stability.  Dialogue was a powerful weapon which needed to be used for peace everywhere.  With the eightieth anniversary of the United Nations approaching, calls for global peace needed to be more resolute, harnessing the powerful symbolism of this milestone year.

    Last September, world leaders unanimously adopted the Pact for the Future, along with the Global Digital Compact and the Declaration for Future Generations.  The Pact charted a course toward a more just, equitable, and sustainable world, and reaffirmed international law, including the Charter of the United Nations, the Universal Declaration of Human Rights and international humanitarian law.  The challenge now was implementation which required full global mobilisation, with robust engagement from governments, United Nations agencies, and civil society.   Organizations in Geneva would play a critical role in this process.

    Mr. Yang said protecting human rights and dignity was a cornerstone of his role as President of the General Assembly.  Last month, he convened a signature event on preserving dignity in armed conflict.  He was encouraged by the strong political will of Member States to uphold and reinforce their commitment to international humanitarian law.  Advocacy would be continued to eliminate child labour in all forms, including in armed conflict, and a discussion on child labour would be held in this regard. 

    Additionally, in the coming months, a high-level meeting would be convened to consider the recommendations of the working group on aging, to ensure older persons had full enjoyment of their human rights.  The spirit that guided the decision of Member States last December to declare a second International Decade for People of African Descent would be upheld.  Mr. Yang said he would convene the annual commemorative meetings for the International Day for the Elimination of Racial Discrimination and the International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade.

    Mr. Yang said he had joined the gender champions network, pledging to promote gender equality and empowerment and implementing a gender perspective throughout the work of the General Assembly.  He had re-established the Advisory Board on Gender Equality to focus on women’s economic empowerment and was happy that the Human Rights Council had followed this good practice.  Additionally, co-facilitators had been appointed to lead consultations in preparation for a high-level meeting, which would commemorate the thirtieth anniversary of the Fourth World Conference on Women and the landmark Beijing Declaration and Platform for Action—Beijing+30.

    This year marked the thirtieth anniversary of the World Programme for Youth, underscoring the critical role of young people in driving sustainable development.  A discussion would be held in May on how digitalisation could enhance the Sustainable Development Goals.  Throughout these engagements, Mr. Yang said he would outline the importance of civil society’s work in enhancing human rights.  The annual high-level debate on crime prevention would be held, which would mark the ten-year anniversary of the Nelson Mandela Rules.  This year, the Nelson Mandela prize would also be awarded to two individuals who had dedicated their lives to serving humanity.  States and relevant stakeholders were invited to submit their nominations this month. 

    These topics aimed to promote human rights and preserve human dignity for all everywhere.  Strengthening cooperation between the General Assembly and the Human Rights Council had never been more urgent.  The shared goal of the two mechanisms was upholding human rights and dignity, for everyone, everywhere. 

    ANTÓNIO GUTERRES, United Nations Secretary-General, said the session was beginning under the weight of a grim milestone: the third anniversary of Russia’s invasion of Ukraine, in violation of the United Nations Charter.  More than 12,600 civilians had been killed, with many more injured.  Entire communities had been reduced to rubble, hospitals and schools destroyed.  All needed to spare no effort to bring an end to this conflict and achieve a just and lasting peace in line with the United Nations Charter, international law and General Assembly resolutions.  Conflicts like the war in Ukraine exacted a heavy toll on people; on fundamental principles like territorial integrity, sovereignty and the rule of law; and on the vital business of this Council.  Without respect for human rights — civil, cultural, economic, political and social — sustainable peace was a pipedream.

    Like the Council, human rights shone a light in the darkest places. Through its work, and the work of the High Commissioner’s Office around the world, the Council was supporting brave human rights defenders risking persecution, detention and even death.  It was working with governments, civil society and others to strengthen action on human rights.  And it was supporting investigations and accountability.  Five years ago, the United Nations launched its Call to Action for Human Rights, embedding human rights across the work of the United Nations around the world in close cooperation with partners.  Mr. Guterres said he would continue supporting this important work, and the High Commissioner’s Office, as the United Nations fought for human rights everywhere.

    Mr. Guterres said that human rights were the oxygen of humanity.  But one by one, human rights were being suffocated — by autocrats, crushing opposition because they feared what a truly empowered people would do; by a patriarchy that kept girls out of school, and women at arm’s length from basic rights; by wars and violence that stripped populations of their right to food, water and education; and by warmongers who thumbed their nose at international law, international humanitarian law and the United Nations Charter.

    Human rights were being suffocated by the climate crisis; by a morally bankrupt global financial system that too often obstructed the path to greater equality and sustainable development; by runaway technologies like artificial intelligence that held great promise, but also the ability to violate human rights at the touch of a button; by growing intolerance against entire groups — from indigenous peoples, to migrants and refugees, to the lesbian, gay, bisexual, transgender, queer and intersex plus community, to persons with disabilities; and by voices of division and anger who viewed human rights not as a boon to humanity, but as a barrier to the power, profit and control they sought.  In short, human rights were on the ropes and being pummelled hard.  This represented a direct threat to all the hard-won mechanisms and systems established over the last 80 years to protect and advance human rights.

    But as the recently adopted Pact for the Future reminded all, human rights were, in fact, a source of solutions.  The Pact provided a playbook on how the world could win the fight for human rights on several fronts.

    First, human rights through peace and peace through human rights. Conflicts inflicted human rights violations on a massive scale.  In the Occupied Palestinian Territory, violations of human rights had skyrocketed since the horrific Hamas attacks of October 7 and the intolerable levels of death and destruction in Gaza.  Mr. Guterres expressed grave concern about the rising violence in the occupied West Bank by Israeli settlers and other violations, as well as calls for annexation. The world was witnessing a precarious ceasefire.  The world needed to avoid at all costs a resumption of hostilities.  The people in Gaza had already suffered too much.  It was time for a permanent ceasefire, the dignified release of all remaining hostages, irreversible progress towards a two-State solution, an end to the occupation, and the establishment of an independent Palestinian State, with Gaza as an integral part.

    In Sudan, bloodshed, displacement and famine were engulfing the country. The warring parties needed to take immediate action to protect civilians, uphold human rights, cease hostilities and forge peace.  Domestic and international human rights monitoring and investigation mechanisms needed to be permitted to document what was happening on the ground.

    In the Democratic Republic of the Congo, the world was seeing a deadly whirlwind of violence and horrifying human rights abuses, amplified by the recent M23 offensive, supported by the Rwandan Defence Forces.  As more cities fell, the risk of a regional war rose.  It was time to silence the guns, time for diplomacy and dialogue.  The recent joint summit in Tanzania offered a way forward with a renewed call for an immediate ceasefire.  The sovereignty and territorial integrity of the Democratic Republic of the Congo needed to be respected.  The Congolese people deserved peace.

    Mr. Guterres called for a renewed regional dialogue in the Sahel to protect citizens from terrorism and systemic violations of human rights, and to create the conditions for sustainable development.

    In Myanmar, the situation had grown far worse in the four years since the military seized power and arbitrarily detained members of the democratically elected government.  The world needed greater cooperation to bring an end to the hostilities and forge a path towards an inclusive democratic transition and a return to civilian rule, allowing for the safe return of the Rohingya refugees.

    In Haiti, the world was seeing massive human rights violations, including more than a million people displaced, and children facing a horrific increase in sexual violence and recruitment into gangs.  Mr. Guterres said that in the coming days, he would put forward proposals to the United Nations Security Council for greater stability and security for the people of Haiti, namely through an effective United Nations assistance mechanism to support the Multilateral Security Support Mission, the national police and Haitian authorities.  A durable solution required a political process led and owned by the Haitian people that restored democratic institutions through elections. 

    The Pact for the Future called for peace processes and approaches rooted in the Universal Declaration of Human Rights, international law and the United Nations Charter.  It proposed specific actions to prioritise conflict prevention, mediation, resolution and peacebuilding.  It also included a commitment to tackle the root causes of conflict, which were so often enmeshed in denials of basic human needs and rights.

    Second, the Pact for the Future advanced human rights through development. The Sustainable Development Goals and human rights were fundamentally intertwined.  They represented real human needs: health, food, water, education, decent work and social protection.  With less than one-fifth of the Goals on track, the Pact called for a massive acceleration through a Sustainable Development Goal Stimulus, reforming the global financial architecture, and taking meaningful action for countries drowning in debt.  This needed to include focused action to conquer the most widespread human rights abuse in history: inequality for women and girls.  The Pact called for investing in battling all forms of discrimination and violence against women and girls, and ensuring their meaningful participation and leadership across all walks of life.

    Along with the Declaration on Future Generations, the Pact also called for supporting the rights and futures of young people through decent work, removing barriers for youth participation, and enhancing training.  The Global Digital Compact called on nations to champion young innovators, nurture entrepreneurial spirit, and equip the next generation with digital literacy and skills.

    Third, the Pact for the Future recognised that the rule of law and human rights went hand-in-hand.  The rule of law, when founded on human rights, was an essential pillar of protection. It shielded the most vulnerable. It was the first line of defence against crime and corruption.  It supported fair, just and inclusive economies and societies.  It held perpetrators of human rights atrocities to account.  It enabled civic space for people to make their voices heard, and for journalists to carry out their essential work, free from interference or threats.  It also reaffirmed the world’s commitment to equal access to justice, good governance, and transparent and accountable institutions.

    Fourth, the world needed to achieve human rights through climate action. Last year was the hottest on record, capping the hottest decade on record.  Rising heat, melting glaciers and hotter oceans were a recipe for disaster. Floods, droughts, deadly storms, hunger, mass displacement — the war on nature was also a war on human rights.  The world needed to choose a different path. Mr. Guterres said he saluted the many Member States who legally recognised the right to a healthy environment, and he called on all countries to do the same. 

    Governments needed to keep their promise to produce new, economy-wide national climate action plans this year, well ahead of the thirtieth Conference of the Parties in Brazil.  Those plans needed to limit the rise in global temperature to 1.5 degrees, including by accelerating the global energy transition.  The world also needed a surge in finance for climate action in developing countries, to adapt to global heating, slash emissions and accelerate the renewables revolution, which represented a massive economic opportunity. They needed to stand up to the misleading campaign of many in the fossil fuel industry and its enablers, who were aiding and abetting this madness, while also protecting and defending those on the front lines of climate justice.

    Fifth, the Pact promoted human rights through stronger, better governance of technology.  Mr. Guterres expressed deep concern about human rights being undermined as fast-moving technologies expanded into every aspect of everyone’s lives.  At its best, social media was a meeting ground for people to exchange ideas and spark respectful debate.  But it could also be an arena of fiery combat and blatant ignorance; a place where the poisons of misinformation, disinformation, racism, misogyny and hate speech were not only tolerated, but often encouraged.  Verbal violence online could easily spill into physical violence in real life.  Recent rollbacks on fact-checking and content moderation online were re-opening the floodgates to more hate, more threats, and more violence.  These rollbacks would lead to less free speech, not more, as people became increasingly fearful to engage on these platforms.  Meanwhile, the great promise of artificial intelligence was matched by limitless peril to undermine human autonomy, human identity, human control and human rights.

    In the face of these threats, the Global Digital Compact brought the world together to ensure that human rights were not sacrificed on the altar of technology. This included working with digital companies and policymakers to extend human rights to every corner of cyberspace, including a new focus on information integrity across digital platforms. Mr. Guterres said the Global Principles for Information Integrity that he launched last year would support and inform this work as all pushed for a more humane information ecosystem.

    The Global Digital Compact also included the first universal agreement on the governance of artificial intelligence that brought every country to the table and set commitments on capacity building, so all countries and people benefited from artificial intelligence’s potential — by investing in affordable internet, digital literacy, and infrastructure; by helping developing countries use artificial intelligence to grow small businesses, improve public services, and connect communities to new markets; and by placing human rights at the centre of artificial intelligence-driven systems. The Pact’s decisions to create an Independent International Scientific Panel on Artificial Intelligence and an ongoing global dialogue that ensured all countries had a voice in shaping its future were important steps forward.  All needed to implement them, Mr. Guterres said.

    Mr. Guterres said all could help end the suffocation of human rights by breathing life into the Pact for the Future and the work of this Council.  He called for the Council’s cooperation, saying that there was no time to lose.

    VOLKER TÜRK, United Nations High Commissioner for Human Rights, said the international system was going through a tectonic shift, and the human rights edifice built up over decades had never been under so much strain. Today marked the third anniversary of the full-scale Russian invasion of Ukraine.  Any sustainable peace must be anchored in the rights, needs and aspirations of the Ukrainian people, in accountability, and in the principles of the United Nations Charter and international law.  In Israel and the Occupied Palestinian Territory, where the suffering had been unbearable, Mr. Türk repeated his call for an independent investigation into grave violations of international law, committed by Israel in its attacks across Gaza, and by Hamas and other Palestinian armed groups. Any sustainable solution must be based on accountability, justice, the right to self-determination, and the human rights and dignity of both Israelis and Palestinians.  Any suggestion of forcing people from their land was completely unacceptable. 

    Beyond Ukraine and Gaza, conflicts and crises were tearing communities and societies apart, from Sudan to the Democratic Republic of the Congo, Haiti, Myanmar and Afghanistan.  Social tensions were rising; the richest one per cent controlled more wealth than most of humanity; and the climate crisis was a human rights catastrophe.  Digital technologies were widely misused to suppress, limit and violate rights, with artificial intelligence bringing new speed and scale.  This was the backdrop against which the Office and the broader human rights ecosystem, including the Council, were working to safeguard and promote the rights of everyone, everywhere. 

    Last year, the Office contributed to the release of some 3,145 arbitrarily detained people and took part in some 11,000 human rights monitoring missions; observed nearly 1,000 trials, and documented some 15,000 situations of human rights violations around the world.  In addition to daily interventions with governments, the team issued about 245 statements, shining a light on human rights concerns in some 130 countries.  Teams on the ground contributed to human rights-based approaches to sustainable development, taxation and public spending, from Cambodia to Jordan and Serbia. Mr. Türk called on the international community to ensure the Office, national human rights institutions, and human rights non-governmental organizations could continue their essential work. 

    Since the adoption of the Universal Declaration of Human Rights, despite setbacks, there had been steady progress, but today this could no longer be taken for granted.  The global consensus on human rights was crumbling under the weight of authoritarians, strongmen and oligarchs, with autocrats now controlling around one-third of the world’s economy, more than double the proportion 30 years ago. 

    Everywhere, there were attempts to ignore, undermine, and redefine human rights, to chip away at gender equality and the rights of migrants, refugees, people with disabilities, and other minorities. 

    There needed to be an all-out effort by everyone, to make sure that human rights and the rule of law remained foundational to communities, societies and international relations.  Otherwise, the picture was very dangerous.  In previous centuries, the unrestrained use of force by the powerful, indiscriminate attacks on civilians, population transfers, and child labour were commonplace.  Dictators could order atrocity crimes consigning vast numbers of people to their deaths.  This could happen again.  But the world was far from powerless to prevent it.  The tools were the United Nations Charter, the Universal Declaration of Human Rights; the body of international law; and the institutions that worked to implement them.

    Today, there needed to be an alternative vision, rooted in facts, the law and compassion.  Human rights were about facts.  That was why the Office was monitoring, documenting, and reporting on violations and abuses in war zones and crises around the world, including Ukraine, the Occupied Palestinian Territory, the Democratic Republic of the Congo, Myanmar, Sudan, Syria, Afghanistan and Haiti.  Facts on their own could and must prompt action, which was why the work of the Council, and the other human rights mechanisms, was so important.  International legal frameworks and institutions, including the International Criminal Court, were fundamental to ensuring justice and achieving accountability, preventing future violations, and making the world safer for everyone. It was also important to have strong institutions at the national level to protect vulnerable people.

    Finally, human rights were nothing without compassion, going beyond thought leadership, to heart leadership.  Human rights had been central to movements for equality and justice throughout history and had the universal power to move people to action. In countries where human rights were not widely respected, people would risk their lives to defend them.  Mr. Türk paid tribute to brave human rights activists everywhere.  Upholding human rights made eminent sense for stability, for prosperity, for a better common future, and was a winning proposition for humanity. 

    IGNACIO CASSIS, Chief of the Federal Department of Foreign Affairs of Switzerland, said today, he had mixed feelings — a sense of pride and deep worry.  He said he was proud because Switzerland had been elected to the Human Rights Council and because Ambassador Lauber had been elected as the Council’s President, the first appointment of a Swiss President to the Council.

    However, Mr. Cassis said, he was also deeply concerned as they lived in a time of global uncertainty, influenced by the climate crisis and global authoritarianism — a large portion of the global population lived under authoritarian rule.  In this context, the Council had a duty to act.

    Last year was marked by major elections.  More than four billion citizens, half of the world’s population, went to the ballot box.  This was a test for global democracy, and the result of these elections was deep unease. Young people were becoming more radical and social networks were exposing all to unfiltered hatred. Globalisation had reduced poverty but had led to deindustrialisation.  Identity claims had taken on a scale that was destabilising societies.  Social networks and the climate crisis were fuelling a sense of chaos and distrust in governments.

    Human rights were a fundamental bedrock on which all could stabilise societies. Rights to free and transparent elections, the right to work and the right to a sustainable environment were all very important, but the challenges to these and all rights were growing. Today, the world marked the third anniversary of the war in Ukraine.  There was also conflict in the Middle East, instability in southern Africa and war in sub-Saharan Africa.  It was more necessary than ever before to focus efforts on fundamental rights, including the right to education, ownership and the total prohibition of torture and slavery.  The Human Rights Council needed to act in a united manner and with determination. Concerted action was needed to guarantee peace and stability.  This was something the Swiss Presidency could achieve.

    Human rights were not a luxury but a necessity.  Switzerland was concerned by the decisions of some Member States to withdraw from the Council.  Every member of the United Nations needed to shoulder their responsibilities toward human rights.  Mr. Cassis expressed his full support for Ambassador Lauber, whose experience inside and outside the United Nations system would serve him well.

    Switzerland would also endeavour to uphold international humanitarian law and human rights as pillars of peace and security, as a member of the United Nations Security Council.  The state of the world was a reminder that Switzerland’s mission was far from complete. Mr. Cassis closed by wishing the Council fruitful discussions.

    __________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    HRC25.004E

    MIL OSI United Nations News –

    February 25, 2025
  • MIL-OSI Asia-Pac: Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal inaugurates Prakriti 2025

    Source: Government of India

    Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal inaugurates Prakriti 2025

    Prakriti 2025- International Conference on Carbon Markets, a reflection of India’s commitment to climate action

    Posted On: 24 FEB 2025 5:31PM by PIB Delhi

     

    Prakriti 2025 (Promoting Resilience, Awareness, Knowledge, and Resources for Integrating Transformational Initiatives), the international conference on carbon markets, was organised today in New Delhi. The conference aimed to promote resilience, awareness, knowledge, and resources for integrating transformational climate initiatives.

    Prakriti 2025 provided a high-level platform for national and international experts, policymakers, industry leaders, researchers, and practitioners to engage in discussions and exchange ideas on the global carbon market’s current trends, challenges, and future directions. By bringing together global leaders and experts, the event advanced discussions on innovative solutions for a sustainable, low-carbon future.

    Shri Dhiraj Srivastava, Chief Engineer, Ministry of Power, welcomed the distinguished guests, industry leaders, and global experts, expressing gratitude for their presence. He acknowledged the importance of collaboration in shaping India’s sustainable energy future.

    Hon’ble Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal, inaugurated the event and shared the Indian Government’s vision on the critical role of carbon markets in tackling climate change. He emphasized the importance of transitioning to renewable energy (RE) to reduce dependence on fossil fuels and achieve emissions targets. Hon’ble Minister also highlighted India’s rich cultural heritage and traditional practices, such as Ganga Deep Puja and Govardhan Puja, which reflect the nation’s deep-rooted ecological consciousness and can complement modern sustainability efforts. Additionally, he underscored the need for climate policies that ensure real, verifiable, and fraud-proof carbon reductions, making India’s sustainability transition both ambitious and achievable.

    Additional Secretary, Ministry of Power, Shri Akash Tripathi, stated,“The Indian Carbon Market Ensures that the target notification aligns with buyer and seller needs in the carbon market. The focus is to implement a strategy to minimize emissions through cost-effective measures.” He further added, “As part of the compliance mechanism, there will be a gradual implementation of carbon reduction targets, with a 40% reduction by 2027 and the remaining by 2030.”

    Director, Bureau of Energy Efficiency, Shri Saurabh Diddi delivered the vote of thanks to the Hon’ble Minister of Power and Housing & Urban Affairs for gracing the event with his presence and sharing his insightful thoughts on striking an ecological balance inspired by our traditional practices. He thanked the panelists, the World Bank, and IETA for their support, emphasizing technology’s role in ensuring transparency in carbon markets. He also acknowledged PwC’s contribution and highlighted India’s policy-driven, tech-enabled approach to a green economy, positioning ICM as a model for emerging markets.

    The conference provided an in-depth understanding of the functioning and processes of the Indian Carbon Market (ICM) while offering insights into the global carbon market’s dynamics, opportunities, and challenges.

    The International Conference on Carbon Markets – PRAKRITI 2025, organized by the Bureau of Energy Efficiency (BEE) under the Ministry of Power, brought together global leaders and experts from various sectors to discuss and explore innovative approaches in addressing climate change through carbon markets.

    Throughout the conference, experts such as Shri Ajay Mathur, Director General of the International Solar Alliance, Mr. Marcos Castro, Senior Climate Change Specialist at the World Bank, and Ms. Leena Nandan, former Secretary, Ministry of Environment, Forest, and Climate Change, led the technical discussions on carbon markets. They delved into critical topics such as Development of Carbon Markets, Compliance Mechanisms, Developing Infrastructure for Functional Carbon Markets, Offset Mechanism, Carbon Credits, and global carbon market dynamics. The event served as a platform for thought leaders to exchange ideas and discuss strategies for advancing carbon markets and climate action globally.

    More than just a conference, Prakriti has distinguished itself as one of the most comprehensive and significant events for learning, sharing knowledge, and exploring opportunities for collaboration in the global effort to combat climate change. Prakriti 2025 will build on this momentum, marking a landmark milestone in India’s climate calendar and  the international climate dialogue.

    The conference will continue on Day 2 with plenary sessions focusing on Private Sector Perspectives on the Indian Carbon Market, Incentivizing Renewable Energy developers through Carbon Markets, and a thematic track on the Role of Ecosystem-Based Interventions in Achieving Net-Zero Goals.

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    MIL OSI Asia Pacific News –

    February 25, 2025
  • MIL-OSI Asia-Pac: Auction for Sale (re-issue) of (i) ‘6.79% GS 2031’ (ii) ‘6.92% GS 2039’ and (iii) ‘7.09% GS 2054’

    Source: Government of India (2)

    Posted On: 24 FEB 2025 8:08PM by PIB Delhi

    The Government of India (GoI) has announced the sale (re-issue) of (i) “6.79% Government Security 2031” for a notified amount of ₹10,000 crore (nominal) through price based auction using multiple price method, (ii) “6.92% Government Security 2039” for a notified amount of ₹12,000 crore (nominal) through price based auction using multiple price method and (iii) “7.09% Government Security 2054” for a notified amount of ₹10,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on February 28, 2025 (Friday). 

    Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

    Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 28, 2025. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m. 

    The result of the auctions will be announced on February 28, 2025 (Friday) and payment by successful bidders will be on March 03, 2025 (Monday).    

    The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

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    MIL OSI Asia Pacific News –

    February 25, 2025
  • MIL-OSI Asia-Pac: “Indian Railways is marching towards achieving the objective of Net Zero” -Shri Ashwini Vaishnaw

    Source: Government of India

    “Indian Railways is marching towards achieving the objective of Net Zero” -Shri Ashwini Vaishnaw

    Power purchasing agreement of 170 MW signed between Indian Railways and Madhya Pradesh Government, marking the procurement of cheapest renewable energy in India

    Railways Minister Urges states to share solar & wind energy to Indian Railways

    Till date, Indian Railway has tied up 4,260 MW (installed) of Solar and 3,427 MW (installed) of wind energy for its energy requirements

    Commitment to achieve 100% electrification in Railways and maximize renewable energy usage

    Posted On: 24 FEB 2025 7:40PM by PIB Delhi

    Addressing investors and entrepreneurs at the Global Investors Summit 2025 in Bhopal, Union Minister for Railways, Information & Broadcasting, and Electronics & IT, Shri Ashwini Vaishnaw outlined Indian Railways’ vision for electrification and the adoption of alternative energy sources.

    Shri Mohan Yadav, Chief Minister of Madhya Pradesh, and Shri Rakesh Shukla, Minister of New and Renewable Energy, Government of Madhya Pradesh were also present in the event.

    Participating via video conferencing from Rail Bhawan, the Union Railway Minister emphasized the Indian government’s goal to achieve ‘Net Zero’ carbon emissions for Indian Railways, with 100% electrification slated for completion in the 2025-26 financial year. The next objective is to maximize renewable energy procurement.

    With this vision, Indian Railways has already tied up 1,500 MW of renewable energy. Further strengthening this commitment, a significant 170 MW Power Purchase Agreement (PPA) was signed today with the Madhya Pradesh government. This milestone marks the procurement of India’s cheapest solar power at Rs 2.15/kWh and the Minister reaffirmed enthusiasm for exploring wind and nuclear energy procurement. The Government of Madhya Pradesh, through Rewa Ultra Mega Solar Power Limited (RUMSL), is supplying solar power to Indian Railways from its largest solar park.

    Shri Ashwini Vaishnaw commended Madhya Pradesh Chief Minister Shri Mohan Yadav for his active role in advancing railway development in the state. He reiterated the Indian government’s strong commitment to a sustainable and green future for the country’s transportation network.

    Today’s PPA was signed between key stakeholders, including West Central Railway (WCR), represented by Dy. CEE/HQ Shri Chetan Gulwani; RUMSL, represented by Executive Engineer Shri Avneesh Shukla; and Waree Forever Energies Pvt Ltd, the solar power developer.

    The Minister also added that Indian Railways is committed to achieving net-zero emissions and shifting from road to rail transport to promote environmental sustainability, reduce oil imports, and lower overall logistics costs. As part of this vision, it is meeting its energy requirements through non-fossil sources such as solar, wind, and nuclear power. The collaboration with RUMSL is a significant step in this direction.

    In addition to setting up its own solar systems, Indian Railways is also securing solar power through PPA arrangements with developers. By 2030, Indian Railways’ traction power requirement is projected to reach 10,000 MW. So far, it has secured 4,260 MW of installed solar capacity and 3,427 MW of installed wind capacity to meet its energy needs, the Minister said.

    Call for Nationwide Collaboration in Renewable Energy

    Shri Ashwini Vaishnaw urged all Indian states to contribute renewable energy—be it solar, wind, hydro, or nuclear power—to Indian Railways, emphasizing a collaborative approach to sustainable energy. He praised the successful partnership model between the Railway Ministry and the Government of Madhya Pradesh, which facilitates direct PPA agreements between the state’s energy generators and Indian Railways.

    Historic Budget Allocation for Madhya Pradesh Rail Infrastructure

    Highlighting the record-breaking budget of ₹14,745 crore allocated to Madhya Pradesh’s railway sector for FY 2025-26, the Minister stated that this is the highest-ever budgetary allocation for the state. Infrastructure development has accelerated significantly, with railway track laying increasing from 29 km per year before 2014 to 230 km per year today—a 7.5x increase.

    Overview of RUMSL

    Parameter

    Details

    Capacity

    1500 MW

    Solar Parks Location

    Agar, Shajapur, and Neemuch districts in Northwest Madhya Pradesh

    Quantum to Railway

    195 MW equivalent (Total installed 400 MW) (Annual Solar Power Supply is 757 Million Units)

    Tariff

    Rs 2.15 /kWh for Neemuch unit (lowest in the country)

    CUF (Capacity Utilization Factor)

    44.3% under Optimum Scheduling

    Joint Venture Partners

    Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL)

    PPA Duration

    25 years

    Nodal Railway

    WCR (Power supplied via grid to Indian Railways in six states)

    Target Completion Date

    December 2025

     

    Tied up solar Installed capacity with Indian Railways:

    Project

    Installed Capacity (in MW)

    Rooftop of stations and Rly service building

    203

    Bhilai

    50

    MCF

    3.13

    Diwana

    2

    Bina

    1.7

    RUMS (Rewa)

    400

    BSUL (Bundelkhand)

    800

    IRCON (Pavagarh, Karnataka)

    500

    RERTC (SECI) (Rajasthan)

    100

    900 MW RERTC (Bikaner NTPC, Jaisalmer 450 MW, Fatehgarh 200 MW)

    1300

    600 MW RERTC (NTPC, Bikaner, TEQ Green Barmer)

    901

    Total

    4260.83

     

    About the Rewa Ultra Mega Solar Power Limited (RUMSL)

    RUMSL, designated as a Solar Power Park Developer (SPPD) by the Ministry of New and Renewable Energy (MNRE), was entrusted with developing large-scale solar parks in Madhya Pradesh under the Ultra Mega Renewable Energy Power Projects (UMREPP) scheme of the Government of India. To ensure efficiency and expertise in executing and operating such large-scale projects, RUMSL adopted the DBFOO (Design, Build, Finance, Own, and Operate) model. The initiative significantly contributed to India’s renewable energy sector, increasing the country’s solar power generation capacity by 2.50%. Notably, it achieved the lowest-ever tariff awarded for a solar public-private partnership (PPP) in India, at INR 2.97 per kWh, without any viability gap funding from the government. Recognized for its innovation and impact, the project was included in the Prime Minister’s “Book of Innovation” and was honored with the prestigious “President Award” from the World Bank.

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    MIL OSI Asia Pacific News –

    February 25, 2025
  • MIL-OSI Asia-Pac: Mobilizing Finance is Key to Achieving 500 GW Renewable Energy by 2030: Union Minister Pralhad Joshi

    Source: Government of India

    Mobilizing Finance is Key to Achieving 500 GW Renewable Energy by 2030: Union Minister Pralhad Joshi

    Renewable Energy Financing Obligation is the need of the hour: Union Minister Joshi National Workshop on Mobilizing Finance for Renewable Energy Concludes in Mumbai

    Posted On: 24 FEB 2025 6:25PM by PIB Mumbai

    Mumbai : 24 February 2025

    Mobilising finance is key to achieving 500 GW Renewable Energy by 2030, said Union Minister for New & Renewable Energy Shri Pralhad Joshi. He was addressing the National Workshop on Mobilizing Finance for Renewable Energy organised by Union Ministry of New and Renewable Energy in Mumbai today. Union Minister Joshi also called for collective efforts from financial institutions and policymakers to ensure accessible funding to Renewable Energy (RE) sector. The Minister along with the Minister of State, (MNRE), Shri Shripad Naik also addressed a Press Conference held in conjunction with the Workshop.

    Highlights of the Workshop

    The Minister stated that the idea for the workshop emerged after a review meeting chaired by Prime Minister Narendra Modi, where discussions focused on accelerating flagship schemes like PM Surya Ghar and PM-KUSUM. Highlighting the scale of India’s energy needs, Shri Joshi said that as the country aims to become the third-largest economy, its energy demand is expected to double. He stressed that renewable energy must be scaled up to match thermal energy production, ensuring a reliable and resilient power supply.

    The Minister also spoke about India’s commitment to achieving Net Zero by 2070 and reaching 500 GW of non-fossil fuel-based capacity by 2030. He called upon financial institutions to align their lending policies with India’s renewable energy growth strategy and emphasized that carbon-intensive industries will face reduced export opportunities in the future. Shri Joshi noted that India has already made significant progress in renewable energy, with capacity increasing to 222 GW today. He pointed out that solar tariffs have drastically reduced, with a recent bid in Madhya Pradesh touching ₹2.15 per unit, compared to ₹11 per unit earlier. However, he stressed the importance of battery storage solutions to support large-scale renewable deployment.

    Speaking on the role of decentralization, the Minister highlighted that PM-KUSUM and PM Surya Ghar empower farmers to become “Urjadata” (energy providers), while also reducing transmission losses. He urged banks to simplify financing processes, particularly for rooftop solar projects, and called for the introduction of a Renewable Energy Financing Obligation to ensure dedicated funding for the sector, similar to Renewable Purchase Obligations (RPOs) for discoms.
    Shri Joshi underscored India’s leadership in green hydrogen (GH2), stating that the country has already received major export orders and is ahead of several developed nations in this field. He noted that global investors are increasingly looking at India as a preferred destination for manufacturing and clean energy investments, recognizing its young workforce and strong industrial capacity.

    The Minister also highlighted Prime Minister Modi’s directive to engage global financial institutions for renewable energy investments, citing India’s recent success in securing commitments worth ₹34.5 lakh crore during a global RE summit in Gandhinagar. He emphasized that the transition to renewable energy is not optional—it is a necessity.Concluding his address, Shri Pralhad Joshi called for a national movement in renewable energy financing, stating that PM Surya Ghar is not just a scheme but an Andolan (movement). He urged financial institutions to streamline lending processes, reduce unnecessary compliance burdens, and adopt a more supportive approach towards financing clean energy projects.

    Union Minister of State for Power and New & Renewable Energy Shri Shripad Y Naik said that achieving 500 GW of renewable energy by 2030 will require an investment of approximately ₹30 lakh crore, covering infrastructure, transmission, and storage systems. He urged the stakeholders to adopt innovative financing models, extend flexible lending terms, and prioritize green investments that will accelerate our energy transition.

    In her context setting speech, Secretary MNRE Smt. Nidhi Khare emphasized the critical role of affordable finance, green bonds, and innovative funding models in driving India’s renewable energy transition.

    The National Workshop on Mobilizing Finance for Renewable Energy featured four key sessions focused on addressing financing challenges in the renewable energy sector. The first session examined the financing landscape for utility-scale renewable energy (RE) projects, assessing challenges faced by developers, banks, and NBFCs in securing funding. Discussions covered interest rates, perceived risks, and potential solutions for financial institutions to support large-scale RE projects. The second session focused on financing new and emerging RE technologies, such as offshore wind, floating solar, and green hydrogen. Panelists, including experts from NABARD, and leading financial institutions, discussed capital allocation strategies, policy interventions, and mechanisms to reduce financial risks for private sector investments in these technologies.

    The third session addressed financing challenges for Distributed Renewable Energy (DRE) and innovative RE applications, including rooftop solar, canal-top PV, and Agri-PV. Experts explored financing constraints for startups, perceived investment risks, and policy support required to scale up these solutions. The final session focused on regulatory and capacity-building measures for banks and NBFCs, discussing RBI guidelines, sector-specific lending policies, and strategies to enhance financing in consumer-oriented RE applications. Stakeholders highlighted the need for better regulatory frameworks, risk-sharing mechanisms, and financial instruments to unlock capital for India’s renewable energy ambitions. The discussions reinforced the necessity of collaborative efforts among policymakers, financial institutions, and industry leaders to mobilize large-scale investments and achieve India’s target of 500 GW of non-fossil fuel energy by 2030.

    The discussions led to several key takeaways, including the need for lower-cost financing, improved access to global climate funds, and enhanced risk-sharing mechanisms for new technologies. Participants also stressed the importance of strengthening public-private partnerships and expanding green financial instruments to support India’s clean energy transition. The event concluded with a commitment from all stakeholders to work towards innovative financing models and policy frameworks that can unlock large-scale investments in the renewable energy sector.

    Senior officials from major public and private sector banks such as State Bank of India, Union Bank of India, HDFC Bank, ICICI Bank, Bank of India, Bank of Baroda, Canara Bank, UCO Bank, IDFC Bank, IDBI Bank, AU Small Finance Bank, Axis Bank, Punjab National Bank, Indian Overseas Bank, Indian Bank, Central Bank of India, Punjab & Sind Bank, Jammu & Kashmir Bank and Bank of Maharashtra also attended the event.

    The workshop marked a significant step toward ensuring that financial constraints do not hinder India’s renewable energy ambitions, reaffirming the government’s commitment to a clean, sustainable, and financially inclusive energy future. The workshop provided a platform for key stakeholders, including banks, NBFCs, policymakers, and industry leaders, to discuss strategies for mobilizing large-scale
     
    investments in renewable energy. Participants reiterated their commitment to supporting India’s clean energy transition, ensuring energy security, economic growth, and environmental sustainability. The event marked a significant step in bridging the financial gap for renewable energy projects, reinforcing India’s position as a global leader in the clean energy revolution.

    Dhanlaxmi/Preeti

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    MIL OSI Asia Pacific News –

    February 25, 2025
  • MIL-OSI: SOLVE Tapped to Become Exclusive Pricing Transparency Provider for Entegra

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 24, 2025 (GLOBE NEWSWIRE) — SOLVE, the premier provider of price transparency data for fixed income securities markets, has been selected by Entegra—an innovator in Trading as a Service (TaaS)—to revolutionize how Securitized Products are traded. By integrating SOLVE’s best-in-class data with Entegra’s cutting-edge proprietary models, the partnership is set to bring unprecedented clarity and efficiency to market participants.

    Entegra, a revolutionary venture led by Daniel Ezra, former head of SP Trading at Credit Suisse, leverages decades of expertise and state-of-the-art analytics to reshape trading in Securitized Products. Entegra analysts will now be armed with data from SOLVE, enabling arrangers and underwriters to offer their banking clients a market-making service throughout the life cycle of their deals at no additional cost to the banking client. Entegra and SOLVE would work in tandem to seamlessly integrate into the arranger’s banking mandate offering.

    “We’re excited to provide our data to Entegra and arm their traders with the real-time pricing information they need to stay ahead of the Securitized Products market,” said SOLVE co-founder and CEO Eugene Grinberg. “From the day we started our business, our goal has been to empower market participants to make confident, data-driven decisions by enhancing price transparency for both buy and sell side participants and working with Entegra allows us to continue serving that mission.”

    Entegra’s traders will have direct access to SOLVE’s flagship SOLVE Quotes™, a platform that leverages Natural Language Processing and Machine Learning to deliver over 20 million daily quotes across more than 1,250,000 securities. This integration ensures that Entegra’s sophisticated models are supported by the most accurate and timely data available, empowering traders with deep insights into individual securities and broader market trends.

    “At Entegra, technology meets human expertise. Our TaaS platform is built on the belief that the best trading decisions emerge from the synergy of advanced data analytics and experienced traders,” said Daniel Ezra, Entegra CEO. “With SOLVE’s unparalleled data quality, our systems and teams are better equipped to help our clients make credible and actionable markets as well as execute the right trades. When banks start competing on service, not price, everyone wins.”

    For more information about SOLVE, please visit solvefixedincome.com. To learn more about Entegra, please visit entegra-global.com.

    About SOLVE
    SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows.  With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in New York, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets. For more information, visit https://solvefixedincome.com.

    CONTACT
    Jake Katz
    OUTVOX
    jkatz@outvox.com

    The MIL Network –

    February 25, 2025
  • MIL-OSI USA: Boozman, Scott, Hill Work to Roll Back Biden-Era CFPB Overdraft Rule

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman

    WASHINGTON––U.S. Senator John Boozman (R-AR), Senate Banking Committee Chairman Tim Scott (R-SC) and House Financial Services Committee Chairman French Hill (R-AR-04) introduced a Congressional Review Act (CRA) resolution to overturn the Biden administration’s Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees at banks and credit unions, citing the rule’s damaging impact on access to important financial services. 

    “The CFPB’s overreach is well established and only intensified during the Biden administration. Instead of bringing more consumers into the banking system, this overdraft rule will push them away to unregulated lenders and I’m pleased to join my colleagues to block it,” said Boozman.

    “The Biden administration’s CFPB routinely targeted legitimate payment incentives and practices in pursuit of political headlines over sound policies. The overdraft rule was yet another example – many consumers rely on overdraft services to make ends meet and limiting this practice will push Americans to riskier financial products. I’m proud to lead the effort to overturn this misguided rule and protect Americans’ access to important financial services,” said Scott.

    “As I have consistently said, the CFPB needs guardrails on its enforcement and rulemaking powers, and this rule is another clear example of why. The CFPB’s actions on overdraft is another form of government price controls that hurt consumers who deserve financial protections and greater choice. Our CRA will help overturn this harmful rule and is a next step toward ensuring the CFPB halts all ongoing rules until it answers to Congress, just like any other non-independent federal agency,” said Hill. 

    The resolution is also supported by Senators Mike Crapo (R-ID), Roger Wicker (R-MS), Jim Risch (R-ID), Jerry Moran (R-KS), Thom Tillis (R-NC), Kevin Cramer (R-ND), Cynthia Lummis (R-WY), Bill Hagerty (R-TN), Katie Britt (R-AL) and Pete Ricketts (R-NE).

     The CRA has the support of key stakeholders including the Consumer Bankers Association, the Independent Community Bankers of America, the American Bankers Association and America’s Credit Unions.

    A CRA resolution is a tool used by Congress to eliminate onerous regulations imposed by the executive branch through an expedited procedure for consideration in the Senate. A joint resolution of disapproval under the CRA is afforded special privileges that bypass normal Senate rules and allow for a vote on the Senate floor. When a CRA resolution is approved by a simple majority in both chambers of Congress and signed by the president – or if Congress successfully overrides a presidential veto – the rule is invalidated.    

    Click here for full text of the resolution

    MIL OSI USA News –

    February 25, 2025
  • MIL-OSI Global: A Palestinian-Israeli film is an Oscars favorite − so why is it so hard to see?

    Source: The Conversation – USA – By Drew Paul, Associate Professor of Arabic, University of Tennessee

    Directors Basel Adra, left, and Yuval Abraham on stage at the 62nd New York Film Festival on Sept. 29, 2024. Jamie McCarthy/Getty Images

    For many low-budget, independent films, an Oscar nomination is a golden ticket.

    The publicity can translate into theatrical releases or rereleases, along with more on-demand rentals and sales.

    However, for “No Other Land,” a Palestinian-Israeli film nominated for best documentary at the 2025 Academy Awards, this exposure is unlikely to translate into commercial success in the U.S. That’s because the film has been unable to find a company to distribute it in America.

    “No Other Land” chronicles the efforts of Palestinian townspeople to combat an Israeli plan to demolish their villages in the West Bank and use the area as a military training ground. It was directed by four Palestinian and Israeli activists and journalists: Basel Adra, who is a resident of the area facing demolition, Yuval Abraham, Hamdan Ballal and Rachel Szor. While the filmmakers have organized screenings in a number of U.S. cities, the lack of a national distributor makes a broader release unlikely.

    Film distributors are a crucial but often unseen link in the chain that allows a film to reach cinemas and people’s living rooms. In recent years it has become more common for controversial award-winning films to run into issues finding a distributor. Palestinian films have encountered additional barriers.

    As a scholar of Arabic who has written about Palestinian cinema, I’m disheartened by the difficulties “No Other Land” has faced. But I’m not surprised.

    The role of film distributors

    Distributors are often invisible to moviegoers. But without one, it can be difficult for a film to find an audience.

    Distributors typically acquire rights to a film for a specific country or set of countries. They then market films to movie theaters, cinema chains and streaming platforms. As compensation, distributors receive a percentage of the revenue generated by theatrical and home releases.

    The film “Soundtrack to a Coup D’Etat,” another finalist for best documentary, shows how this process typically works. It premiered at the Sundance Film Festival in January 2024 and was acquired for distribution just a few months later by Kino Lorber, a major U.S.-based distributor of independent films.

    The inability to find a distributor is not itself noteworthy. No film is entitled to distribution, and most films by newer or unknown directors face long odds.

    However, it is unusual for a film like “No Other Land,” which has garnered critical acclaim and has been recognized at various film festivals and award shows. Some have pegged it as a favorite to win best documentary at the Academy Awards. And “No Other Land” has been able to find distributors in Europe, where it’s easily accessible on multiple streaming platforms.

    So why can’t “No Other Land” find a distributor in the U.S.?

    There are a couple of factors at play.

    Shying away from controversy

    In recent years, film critics have noticed a trend: Documentaries on controversial topics have faced distribution difficulties. These include a film about a campaign by Amazon workers to unionize and a documentary about Adam Kinzinger, one of the few Republican congresspeople to vote to impeach Donald Trump in 2021.

    The Israeli-Palestinian conflict, of course, has long stirred controversy. But the release of “No Other Land” comes at a time when the issue is particularly salient. The Hamas attacks of Oct. 7, 2023, and the ensuing Israeli bombardment and invasion of the Gaza Strip have become a polarizing issue in U.S. domestic politics, reflected in the campus protests and crackdowns in 2024. The filmmakers’ critical comments about the Israeli occupation of Palestine have also garnered backlash in Germany.

    Locals attend a screening of ‘No Other Land’ in the village of A-Tuwani in the West Bank on March 14, 2024.
    Yahel Gazit/Middle East Images/AFP via Getty Images

    Yet the fact that this conflict has been in the news since October 2023 should also heighten audience interest in a film such as “No Other Land” – and, therefore, lead to increased sales, the metric that distributors care about the most.

    Indeed, an earlier film that also documents Palestinian protests against Israeli land expropriation, “5 Broken Cameras,” was a finalist for best documentary at the 2013 Academy Awards. It was able to find a U.S. distributor. However, it had the support of a major European Union documentary development program called Greenhouse. The support of an organization like Greenhouse, which had ties to numerous production and distribution companies in Europe and the U.S., can facilitate the process of finding a distributor.

    By contrast, “No Other Land,” although it has a Norwegian co-producer and received some funding from organizations in Europe and the U.S., was made primarily by a grassroots filmmaking collective.

    Stages for protest

    While distribution challenges may be recent, controversies surrounding Palestinian films are nothing new.

    Many of them stem from the fact that the system of film festivals, awards and distribution is primarily based on a movie’s nation of origin. Since there is no sovereign Palestinian state – and many countries and organizations have not recognized the state of Palestine – the question of how to categorize Palestinian films has been hard to resolve.

    In 2002, The Academy of Motion Picture Arts and Sciences rejected the first ever Palestinian film submitted to the best foreign language film category – Elia Suleiman’s “Divine Intervention” – because Palestine was not recognized as a country by the United Nations. The rules were changed for the following year’s awards ceremony.

    In 2021, the cast of the film “Let It Be Morning,” which had an Israeli director but primarily Palestinian actors, boycotted the Cannes Film Festival in protest of the film’s categorization as an Israeli film rather than a Palestinian one.

    Film festivals and other cultural venues have also become places to make statements about the Israeli-Palestinian conflict and engage in protest. For example, at the Cannes Film Festival in 2017, the right-wing Israeli culture minister wore a controversial – and meme-worthy – dress that featured the Jerusalem skyline in support of Israeli claims of sovereignty over the holy city, despite the unresolved status of Jerusalem under international law.

    Israeli Culture Minister Miri Regev wears a dress featuring the old city of Jerusalem during the Cannes Film Festival in 2017.
    Antonin Thuillier/AFP via Getty Images

    At the 2024 Academy Awards, a number of attendees, including Billie Eilish, Mark Ruffalo and Mahershala Ali, wore red pins in support of a ceasefire in Gaza, and pro-Palestine protesters delayed the start of the ceremonies.

    So even though a film like “No Other Land” addresses a topic of clear interest to many people in the U.S., it faces an uphill battle to finding a distributor.

    I wonder whether a win at the Oscars would even be enough.

    This article has been updated to clarify that the film was a collaborative effort between Palestinian and Israeli filmmakers.

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

    – ref. A Palestinian-Israeli film is an Oscars favorite − so why is it so hard to see? – https://theconversation.com/a-palestinian-israeli-film-is-an-oscars-favorite-so-why-is-it-so-hard-to-see-249233

    MIL OSI – Global Reports –

    February 25, 2025
  • MIL-OSI Africa: U.S. Secretary of Energy Chris Wright to Deliver Keynote Address at 10th Powering Africa Summit

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

    LONDON, United Kingdom, February 24, 2025/APO Group/ —

    Secretary Chris Wright, U.S. Department of Energy, has been confirmed as a speaker and guest of honour at the 10th Powering Africa Summit (PAS), taking place at JW Marriott Washington, D.C. across March 6-7. This is an important step to provide an answer to the question that all of African energy is now asking: how will the new Administration approach the strategic energy relationship between the U.S. and Africa?

    Under the Summit theme, The Future of the US & Africa Energy Partnership, U.S. Secretary of Energy Chris Wright will deliver a keynote address at the 10th annual Powering Africa Summit. Wright will be joined by representatives from the U.S. Department of State: Ambassador Troy Fitrell, Senior Bureau Official, Bureau of African Affairs; Kimberly Harrington, Acting Principal Deputy Assistant Secretary, Bureau of Energy Resources; and Stephen Banks, Acting Deputy Assistant Secretary for Energy Diplomacy, Bureau of Energy Resources. All will share their vision for this future relationship between African countries and the US-based investors that are so vital to realizing their energy ambitions.

    “As Secretary of Energy, I am committed to unleashing all forms of affordable, reliable and secure energy here at home and advancing that mission of energy security around the world – and nowhere is that more critical than the continent of Africa. I look forward to joining the Summit to reaffirm the strategic energy partnership between the U.S. and Africa and share my vision for advancing innovation and removing barriers to energy access, both at home and around the world,” Secretary Wright said.

    Ministers and governments from 19 African countries will arrive in Washington D.C., where the Africa Welcome Address will be given by H.E. Honourable Adebayo Adelabu, Minister of Power, Nigeria. Together with H.E. Honourable Jeremiah Kpan Koung, Vice President, Liberia; H.E. Honourable Dr. Dele Alake, Minister for Solid Minerals Development, Nigeria; H.E. Honourable Mahmoud Mustafa Esmat, Minister of Electricity & Renewable Energy, Egypt; H.E. Honourable Karim Badawi, Minister of Petroleum & Mineral Resources, Egypt; H.E. Honourable Bogolo Joy Kenewendo, Minister of Minerals & Energy, Botswana; H.E. Honourable Alex Wachira, Principal Secretary, Ministry of Energy & Petroleum, Kenya; and Amina Benkhadra, Director General, Office National des Hydrocarbures et des Mines (ONHYM), Morocco, he will meet distinguished Ministers and leaders from South Africa, Senegal, Ethiopia, Zimbabwe, Togo, Sierra Leone and more to drive energy development across the continent.

    Flagship ministerial boardrooms and regional energy cooperation sessions will discuss and debate   derisking projects, South Africa’s energy future, the need for West African regulatory reforms, and the role of hydrogen in North Africa. New areas of opportunity such as bitcoin mining and data centers will be discussed through an East African lens. The Mission 300 initiative, set to provide electricity access to 300 million people in sub-Saharan Africa by 2030, is also high on the agenda.

    The 10th Anniversary Gala Drinks Reception sponsored by Genesis Energy, will celebrate International Women’s Day, ahead of March 8.

    Critical to the week’s discussions will be a host of private players including Alliant Insurance Services, GE Vernova, ARM-Harith Infrastructure Investment, Globeleq, Africa50, Nextracker, Schneider Electric, Newmarket Capital and the summit’s general sponsor, Sun Africa, who are looking to a new future for the U.S.-Africa relationship.   

    Sun Africa CEO, Adam Cortese said: “We are seeing a sea change in how the U.S. participates in foreign infrastructure development and our unique model of development is an excellent illustration of how U.S. energy companies can thrive in emerging markets on a strictly commercial basis. Sun Africa remains committed to harnessing Africa’s immense energy resources through innovative structures, state-of-the-art technology and strong alliances while maintaining our long-standing market-based approach to development.  At Sun Africa, we believe energy development on the continent truly represents an opportunity for win-win partnerships and look forward to sharing our experience.”

    Simon Gosling, MD of EnergyNet added: “This summit has always been about bringing together African countries seeking investment with U.S.-based investors who see the vast potential on the continent.  It is more important than ever to establish the crucial energy projects that Africa needs. PAS25 will put the continent center stage and make sure that both sides have a future relationship to be excited about.”

    Media Credentials Requited for Powering Africa Summit

    The Secretary will open the Summit on 6 March, delivering a Keynote Speech at 09:45, followed by a Fireside Chat with Mission 300 Accelerator CEO, Andrew Herscowitz.

    MIL OSI Africa –

    February 25, 2025
  • MIL-OSI United Nations: WFP reaches one million people in Gaza as ceasefire allows more food deliveries and distributions across the Strip

    Source: World Food Programme

    GAZA, Palestine – The World Food Programme today announced that the ceasefire in Gaza has allowed it to bring in more than double the monthly average of food it delivered prior to the ceasefire being in place. This has enabled the agency to provide full food rations, restock and reopen bakeries, and reach families across the entire Gaza Strip.

    Below is an overview of WFP’s operations since the ceasefire:

    • WFP has reached one million people with a full range of assistance, including food parcels, hot meals, fresh bread and cash assistance. 
    • More than 30,000 metric tons of WFP food have entered Gaza; more than double the monthly average of around 12,500 metric tons through the second half of 2024.
    • The agency is now distributing food in the North Gaza governorate, which had been cut off for 80 days between October and December 2024.
    • More than 60 kitchens across the Strip have handed out nearly ten million meals, prioritizing hard-to-reach areas. Kitchens are also expanding in North Gaza and Rafah. Other kitchens are relocating based on needs and population movement.
    • There are 25 bakeries now operational in the north, middle and south areas, which are producing more than 150,000 bread bundles per day – five times more bread than prior to the ceasefire.
    • More than 116,500 pregnant and nursing mothers, and children under five, have received over 3 million packs of nutritional supplements.
    • More than 70,000 tons of food – enough to feed over a million people for about 3 months – is either already prepositioned outside Gaza and available at Jordan, Egypt and Ashdod corridors, or is in transit to, or expected to arrive at these corridors. 
    • WFP provided cash to 24,000 families during the ongoing ceasefire response and plans to gradually extend support to 150,000 families by the end of 2025; however, immediate funding is essential to implement this initiative. 

    WFP is increasingly concerned about the tense situation in the West Bank where more than 40,000 people have been displaced since mid-January 2025. WFP had already been assisting vulnerable populations in the West Bank with cash assistance, reaching 190,000 people last month; the agency also provided one-off cash assistance to more than 5,000 people displaced from Jenin camp.

    WFP needs US$254 million over the next six months to provide emergency assistance for up to 1.4 million people in Gaza and the West Bank.

    ENDS

    Quote attributable to Antoine Renard, WFP Country Director and Representative in Palestine:

    “Since the ceasefire, WFP has doubled its reach, and the impact of safe and sustained humanitarian access is evident. We are now delivering food into Gaza at scale, restoring food distribution points, reopening bakeries we support, and expanding cash assistance. The ceasefire must hold, and all border crossings must remain open and operational at full capacity. There can be no going back.”

    For video footage, click here.

    #                    #                       #

    The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change. 

    Follow us on X, formerly Twitter, via @wfp_media 

    MIL OSI United Nations News –

    February 25, 2025
  • MIL-OSI United Nations: Human Rights ‘Oxygen of Humanity’, Critical to Sustainable Peace, Says Secretary-General

    Source: United Nations 4

    Following are UN Secretary-General António Guterres’ remarks to Human Rights Council, in New York today:

    We begin this session under the weight of a grim milestone — the third anniversary of the Russian Federation’s invasion of Ukraine, in violation of the Charter of the United Nations.  More than 12,600 civilians killed, with many more injured.  Entire communities reduced to rubble.  Hospitals and schools destroyed.  We must spare no effort to bring an end to this conflict, and to achieve a just and lasting peace in line with the UN Charter, international law and General Assembly resolutions.

    Conflicts like the war in Ukraine exact a heavy toll.  A toll on people.  A toll on fundamental principles like territorial integrity, sovereignty and the rule of law.  And a toll on the vital business of this Council.

    Without respect for human rights — civil, cultural, economic, political and social — sustainable peace is a pipedream.  And like this Council, human rights shine a light in the darkest places.

    Through your work, and the work of the High Commissioner’s Office around the world, you’re supporting brave human rights defenders risking persecution, detention and even death.  You’re working with Governments, civil society and others to strengthen action on human rights.  And you’re supporting investigations and accountability.

    Five years ago, we launched our Call to Action for Human Rights, embedding human rights across the work of the United Nations around the world in close cooperation with our partners.  I will continue supporting this important work, and the High Commissioner’s Office, as we fight for human rights everywhere.  We have our work cut out for us.

    Human rights are the oxygen of humanity.  But, one by one, human rights are being suffocated.  By autocrats, crushing opposition because they fear what a truly empowered people would do.  By a patriarchy that keeps girls out of school, and women at arm’s length from basic rights.  By wars and violence that strip populations of their right to food, water and education. By warmongers who thumb their nose at international law, international humanitarian law and the UN Charter.

    Human rights are being suffocated by the climate crisis.  And by a morally bankrupt global financial system that too often obstructs the path to greater equality and sustainable development.  By runaway technologies like artificial intelligence (AI) that hold great promise, but also the ability to violate human rights at the touch of a button.  By growing intolerance against entire groups — from Indigenous Peoples, to migrants and refugees, to the lesbian, gay, bisexual, transgender, queer, intersex and other identities (LGBTQI+) community, to persons with disabilities.  And by voices of division and anger who view human rights not as a boon to humanity, but as a barrier to the power, profit and control they seek.

    In short — human rights are on the ropes and being pummelled hard.  This represents a direct threat to all of the hard-won mechanisms and systems established over the last 80 years to protect and advance human rights.

    But, as the recently adopted Pact for the Future reminds us, human rights are, in fact, a source of solutions.  The Pact provides a playbook on how we can win the fight for human rights on several fronts.

    First — human rights through peace and peace through human rights.  Conflicts inflict human rights violations on a massive scale.  In the Occupied Palestinian Territory, violations of human rights have skyrocketed since the horrific Hamas attacks of 7 October 2023 and the intolerable levels of death and destruction in Gaza.

    And I am gravely concerned by the rising violence in the occupied West Bank by Israeli settlers and other violations, as well as calls for annexation. We are witnessing a precarious ceasefire.  We must avoid at all costs a resumption of hostilities.  The people in Gaza have already suffered too much.

    It’s time for a permanent ceasefire, the dignified release of all remaining hostages, irreversible progress towards a two-State solution, an end to the occupation and the establishment of an independent Palestinian State, with Gaza as an integral part.

    In Sudan, bloodshed, displacement and famine are engulfing the country.  The warring parties must take immediate action to protect civilians, uphold human rights, cease hostilities and forge peace.  And domestic and international human rights monitoring and investigation mechanisms should be permitted to document what is happening on the ground.

    In the Democratic Republic of the Congo, we see a deadly whirlwind of violence and horrifying human rights abuses, amplified by the recent M23 [23 March Movement] offensive, supported by the Rwandan Defence Forces. As more cities fall, the risk of a regional war rises.

    It’s time to silence the guns.  It’s time for diplomacy and dialogue.  The recent joint summit in the United Republic of Tanzania offered a way forward with a renewed call for an immediate ceasefire.  The sovereignty and territorial integrity of the Democratic Republic of the Congo must be respected.  The Congolese people deserve peace.

    In the Sahel, I call for a renewed regional dialogue to protect citizens from terrorism and systemic violations of human rights, and to create the conditions for sustainable development.

    In Myanmar, the situation has grown far worse in the four years since the military seized power and arbitrarily detained members of the democratically elected Government.  We need greater cooperation to bring an end to the hostilities and forge a path towards an inclusive democratic transition and a return to civilian rule, allowing for the safe return of the Rohingya refugees.

    And in Haiti, we are seeing massive human rights violations — including more than a million people displaced, and children facing a horrific increase in sexual violence and recruitment into gangs.  In the coming days, I will put forward proposals to the United Nations Security Council for greater stability and security for the people of Haiti — namely through an effective UN assistance mechanism to support the Multilateral Security Support mission, the national police and Haitian authorities.  A durable solution requires a political process — led and owned by the Haitian people — that restores democratic institutions through elections.

    The Pact for the Future calls for peace processes and approaches rooted in the Universal Declaration of Human Rights, international law and the UN Charter.  It proposes specific actions to prioritize conflict prevention, mediation, resolution and peacebuilding.  And it includes a commitment to tackle the root causes of conflict, which are so often enmeshed in denials of basic human needs and rights.

    Second — the Pact for the Future advances human rights through development.  The Sustainable Development Goals (SDGs) and human rights are fundamentally intertwined. They represent real human needs — health, food, water, education, decent work and social protection.

    With less than one fifth of the Goals on track, the Pact calls for a massive acceleration through an SDG Stimulus, reforming the global financial architecture, and taking meaningful action for countries drowning in debt.  This must include focused action to conquer the most widespread human rights abuse in history — inequality for women and girls.

    The Pact calls for investing in battling all forms of discrimination and violence against women and girls, and ensuring their meaningful participation and leadership across all walks of life.  And along with the Declaration on Future Generations, the Pact calls for supporting the rights and futures of young people through decent work, removing barriers for youth participation, and enhancing training.  And the Global Digital Compact calls on nations to champion young innovators, nurture entrepreneurial spirit and equip the next generation with digital literacy and skills. 

    Third — the Pact for the Future recognizes that the rule of law and human rights go hand-in-hand.  The rule of law, when founded on human rights, is an essential pillar of protection.  It shields the most vulnerable.  It’s the first line of defence against crime and corruption.  It supports fair, just and inclusive economies and societies.  It holds perpetrators of human rights atrocities to account.  It enables civic space for people to make their voices heard — and for journalists to carry out their essential work, free from interference or threats.  And it reaffirms the world’s commitment to equal access to justice, good governance and transparent and accountable institutions.

    Fourth — human rights through climate action.  Last year was the hottest on record — capping the hottest decade on record.  Rising heat, melting glaciers and hotter oceans are a recipe for disaster.  Floods, droughts, deadly storms, hunger, mass displacement — our war on nature is also a war on human rights.  We must choose a different path.

    I salute the many Member States who legally recognize the right to a healthy environment — and I call on all countries to do the same.  Governments must keep their promise to produce new, economy-wide national climate action plans this year, well ahead of thirtieth UN Climate Change Conference in Brazil.  Those plans must limit the rise in global temperature to 1.5°C — including by accelerating the global energy transition.

    We also need a surge in finance for climate action in developing countries, to adapt to global heating, slash emissions and accelerate the renewables revolution, which represents a massive economic opportunity. We must stand up to the misleading campaign of many in the fossil fuel industry and its enablers who are aiding and abetting this madness, while also protecting and defending those on the front lines of climate justice.

    And fifth — human rights through stronger, better governance of technology.  As fast-moving technologies expand into every aspect of our lives, I am deeply concerned about human rights being undermined.

    At its best, social media is a meeting ground for people to exchange ideas and spark respectful debate.  But, it can also be an arena of fiery combat and blatant ignorance. A place where the poisons of misinformation, disinformation, racism, misogyny and hate speech are not only tolerated — but often encouraged.  Verbal violence online can easily spill into physical violence in real life.

    Recent rollbacks on social media fact-checking and content moderation are reopening the floodgates to more hate, more threats and more violence.  Make no mistake.  These rollbacks will lead to less free speech, not more, as people become increasingly fearful to engage on these platforms.  Meanwhile, the great promise of AI is matched by limitless peril to undermine human autonomy, human identity, human control — and yes, human rights.

    In the face of these threats, the Global Digital Compact brings the world together to ensure that human rights are not sacrificed on the altar of technology.  This includes working with digital companies and policymakers to extend human rights to every corner of cyberspace — including a new focus on information integrity across digital platforms.

    The Global Principles for Information Integrity I launched last year will support and inform this work as we push for a more humane information ecosystem.

    The Global Digital Compact also includes the first universal agreement on the governance of AI that brings every country to the table and commitments on capacity-building, so all countries and people benefit from AI’s potential.  By investing in affordable Internet, digital literacy and infrastructure.  By helping developing countries use AI to grow small businesses, improve public services and connect communities to new markets.  And by placing human rights at the centre of AI-driven systems.

    The Pact’s decisions to create an Independent International Scientific Panel on AI and an ongoing Global Dialogue that ensure all countries have a voice in shaping its future are important steps forward.  We must implement them.

    We can help end the suffocation of human rights by breathing life into the Pact for the Future and the work of this Council.  Let’s do that together.  We don’t have a moment to lose.

    MIL OSI United Nations News –

    February 25, 2025
  • MIL-OSI Russia: Financial News: Annual Inflation Increased in Most Regions in January

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Annual inflation increased in 75 regions, while in the rest it remained the same as in December or decreased.

    The most noticeable increase in prices was for services, while prices for food and non-food products remained virtually unchanged.

    Inflation remains high and it will take a long time to keep rates high to bring it back to 4% in 2026.

    For more information on inflation in each region, seeinformation and analytical materials, published on the website of the Bank of Russia.

    Preview photo: SERGEI ILNITSKY | EPA | TASS

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

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

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23400

    MIL OSI Russia News –

    February 25, 2025
  • MIL-OSI Russia: Financial News: Development of Concentration Risk Regulation: Discussion Results

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    The Bank of Russia, following discussions with the market on the reform of credit concentration risk regulation finalized individual provisions of the concept.

    In particular, the following changes have been made to it:original version:

    — a reduced risk weight of 50% for state-owned companies with revenues exceeding 2% of GDP when calculating concentration standards will be applied for a year longer — until January 1, 2029. By that time, the concentration limiter for such companies will be the H30 standard, which will be calculated by systemically important banks;

    — the criteria for the operational independence of companies for determining a group of related borrowers (GRB) have been adjusted. In particular, the requirements for the composition of the board of directors have been simplified. In addition, if the mutual financial obligations of companies in one GRB are small, the companies will be considered operationally independent;

    — the approach to which subsidiaries and dependent companies of the bank may be excluded from the calculation of the maximum risk standard for related parties H25 has been clarified. Financial subsidiaries that finance the business of the bank owners insignificantly will be excluded.

    The Bank of Russia will continue to introduce regulations aimed at reducing concentration risks. It is expected that a number of changes (for example, the phased introduction of calculating concentration on the issuer of securities under reverse repo, inclusion in the calculation of requirements for accrued credit income, operational independence criteria) will be implemented as early as 2025.

    Preview photo: fireflite59 / Shutterstock / Fotodom

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

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

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23399

    MIL OSI Russia News –

    February 25, 2025
  • MIL-OSI Europe: The EBA finds progress in availability and accessibility of data used to identify and qualify environmental, social and governance risks but data landscape remains incomplete

    Source: European Banking Authority

    The European Banking Authority (EBA) today published a Report assessing the availability and accessibility of data related to environmental, social and governance (ESG) risks as well as the feasibility of introducing a standardised methodology for identifying and qualifying credit exposures to such risks. The Report finds that while there have been significant improvements over the recent years on availability and accessibility of data, the ESG data landscape remains incomplete at this stage. Key policy initiatives such as the Corporate Sustainability Reporting Directive (CSRD) and the supporting European Sustainability Reporting Standards (ESRS), as well as further transparency in the methodologies of ESG scores and External Credit Assessment Institutions’ (ECAI) credit risk ratings, are expected to further improve this landscape and mitigate challenges.

    Credit institutions are increasingly assessing ESG risks, although progress differs across exposure classes. Data availability, quality and granularity remain among the most significant challenges in developing more advanced approaches.

    Methodologies are most mature in the assessment of transition risk in corporate portfolios, where the EBA has observed certain elements of standardisation, such as the use of sectoral classification, greenhouse gas emissions and transition plans of counterparties as the key sources of information.

    Similarly, the EBA has observed some degree of standardisation in methodologies for mortgage exposures, which are typically based on the geographical location and energy efficiency of the immovable property collateral.

    The methodologies are less mature for other exposure classes where the process of developing relevant methodologies to identify and assess ESG risks is still ongoing. The practices regarding the assessment of environmental risk other than climate, social and governance risks are still at an early stage and mostly qualitative.

    While there are emerging practices regarding the assessment of ESG risks, the progress to date on the assessment of how these risks affect the level of credit risk is limited. At this stage, only few institutions apply specific methods for measuring credit risk related to ESG factors, focusing mostly on climate risk. While governance aspects have traditionally been part of the assessment of credit risk, both by institutions and by ECAIs, there is little standardisation and the approaches are mainly qualitative, often based on expert judgement.

    Based on the market practices and the current data landscape, the EBA concludes that the feasibility of designing a standardised methodology differs greatly depending on the type of exposures and risks considered. While there have been developments in the identification and assessment of ESG risks, there is still insufficient understanding and evidence of their effective impact on credit risk parameters. Should regulatory efforts towards standardisation be pursued, a sequenced approach would most likely be necessary.

    Legal basis

    The EBA is mandated under letters (a) and (b) of Article 501c(1) of Regulation (EU) No 575/2013, i.e. the Capital Requirements Regulation (CRR), to assess:

    a) the availability and accessibility of reliable and consistent ESG data for credit risk exposure classes;

    b) the feasibility of introducing a standardised methodology to identify and qualify these exposures, based on a common set of principles to ESG risk classification, and using the information available from sustainability disclosure frameworks, the guidance and conclusions coming from supervisory stress-testing or scenario analysis of climate-related financial risks, and the relevant ESG score of the credit risk rating by a nominated ECAI.

    MIL OSI Europe News –

    February 25, 2025
  • MIL-OSI Global: Africa relies too heavily on foreign aid for health – 4 ways to fix this

    Source: The Conversation – Africa – By Francisca Mutapi, Professor in Global Health Infection and Immunity. and co-Director of the Global Health Academy, University of Edinburgh

    There’s been a global trend in the reduction of aid to Africa since 2018. Donors are shifting their funding priorities in response to domestic and international agendas. Germany, France and Norway, for instance, have all reduced their aid to Africa in the past five years. And, in 2020, the UK government reduced its Overseas Development Aid from 0.7% of gross national income to 0.5%.

    Many health services across the African continent rely heavily on overseas aid to provide essential care. International funding supports everything from vaccines and HIV treatment to maternal health programmes.

    Cuts to aid, particularly unilateral ones, can have widespread implications. For instance, about 72 million people missed out on treatment for neglected tropical diseases between 2021 and 2022 due to UK aid cuts.

    The freeze of US aid to Africa in January 2025 is the latest in this trend. It’s already having significant and wide-ranging impacts across the African continent. For example, vaccination campaigns for polio eradication and HIV/Aids treatment through the President’s Emergency Plan for AIDS Relief (Pepfar) have been stopped. This puts millions of lives at risk. In South Africa alone, the cut of Pepfar’s US$400 million a year to HIV programmes risks patients defaulting on treatment, infection rates going up and eventually a rise in deaths.

    President Donald Trump’s actions have highlighted Africa’s reliance on foreign aid for health funding. I’m a global health expert who sits on various funding and advisory boards, including those of the World Health Organization (WHO), the UK government and boards of global resource mobilisation organisations. I am well aware of the competing funding priorities for international funders and have long advocated for local, sustainable health funding mechanisms.

    Long-term strategies to reduce aid dependency are critical. Breaking away from this current funding status requires concerted efforts building on proven best practice.




    Read more:
    How nonprofits abroad can fill gaps when the US government cuts off foreign aid


    Country-leadership and ownership

    African countries currently face the unique challenge of simultaneously dealing with high rates of communicable diseases, such as malaria and HIV/Aids, and rising levels of non-communicable diseases, such as cardiovascular diseases and diabetes.

    But Africa’s health systems are not sufficiently resourced. They’re not able to provide appropriate, accessible and affordable healthcare to address these challenges.

    African governments spend less than 10% of their GDP on health, amounting to capital expenditure of US$4.5 billion. This falls short of the estimated US$26 billion annual investment needed to meet evolving health needs.

    Aid goes towards filling this funding gap. For example, in 2021, half of sub-Saharan African countries relied on external financing, such as grants and loans, for more than one-third of their health expenditures.

    Foreign aid has helped. But it clearly leaves African countries vulnerable to the political mood swings among funders.

    It also leads to loss of self-determination in terms of health priorities as, ultimately, the funder determines the health priorities. This is one reason why many programmes in Africa focus on a single disease, such as HIV. This leads to poorly integrated health services. For instance health workers or services are channelled into managing a single disease.

    New, underutilised financing options

    The current trajectory of reduced aid to Africa is likely to continue. Global aid is being directed to other challenges, such as conflict and illegal immigration.

    The continent cannot continue on the same path while hoping for different outcomes. Africa needs to grow a range of immediately available domestic financing options. Many of these are underutilised and include:

    1.) Diversifying domestic resource mobilisation. This should include commodity taxation to fund health. For instance, tobacco taxes which are currently underutilised in Africa.

    Zimbabwe offers a successful example. It has bridged donor resource gaps through its 3% Aids levy (started in 1999). Imposed on both individual and corporate incomes, it funds domestic HIV/Aids prevention, care and treatment programmes.

    Nigeria’s another country that’s taken initiative, prioritising domestic budget allocation to health. It recently absorbed the 28,000 healthworkers formerly paid by USAid. This demonstrates that domestic health financing in Africa is possible.

    2.) More private-public partnerships. Formed between local and international philanthropies or institutions, these can bridge financing gaps.

    One successful example is the 2015 health service provision partnership between the Kenyan government and GE Healthcare. GE Healthcare provides radiography equipment and services which the government pays for over time. This allows the government to budget and plan healthcare expenditure over several years.

    3.) Promotion of regional integration to boost local production. This will reduce the need for aid-funded imported medical products.

    For instance, the African Union’s harmonised Africa Medicines Authority registration facility creates a single continental market for medicines. This supports local producers and exporters, by allowing them to operate on a larger scale. It also makes production and distribution more cost-effective. Finally, it reduces the reliance on imported medicines, strengthening Africa’s pharmaceutical industry.

    4.) Leverage development finance institutions. These are specialised financial organisations – such as the Africa Development Bank, African Export-Import Bank and the Development Bank of Southern Africa. They can provide capital and expertise to projects deemed too risky for traditional investors. This includes support for health financing for infrastructure development, private sector development for small and medium-sized enterprises and the regional integration.

    One transformative initiative is the AfricInvest investment platform. With support from development finance institutions in the US and Europe, AfricInvest has raised over US$100 million for health investment in Africa. It has funded at least 45 dialysis facilities in Africa, delivering over 130,000 dialysis sessions annually, primarily to remote and underserved communities all at affordable costs.

    A combination of these approaches at national, regional and continental level will accelerate Africa’s withdrawal from aid dependency.

    Francisca Mutapi receives funding from the Aspen Global Innovation Programme, Scottish Funding Council funding to the University of Edinburgh, Academy of Medical Sciences, British Academy and the Royal Society. Francisca Mutapi is the Deputy Director of the Tackling Infections to Benefit Africa (TIBA) Partnership and Deputy Board Chair of Uniting to Combat NTDS. She sits on the UK Foreign, Commonwealth & Development Office (FCDO) and WHO Africa Regional Director’s Scientific Advisory Groups.

    – ref. Africa relies too heavily on foreign aid for health – 4 ways to fix this – https://theconversation.com/africa-relies-too-heavily-on-foreign-aid-for-health-4-ways-to-fix-this-249886

    MIL OSI – Global Reports –

    February 25, 2025
  • MIL-OSI Africa: Samaila Zubairu of Africa Finance Corporation (AFC) Succeeds Prof. Benedict Oramah of Afreximbank to Lead the Alliance of African Multilateral Financial Institutions (AAMFI)

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

    ADDIS ABABA, Ethiopia, February 24, 2025/APO Group/ —

    The Alliance of African Multilateral Financial Institutions (AAMFI), also known as the Africa Club, has announced the appointment of Samaila Zubairu as its new Chairperson.

    Mr. Zubairu, President and CEO of the Africa Finance Corporation (AFC), succeeds AAMFI’s founding Chair, Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank). His appointment was confirmed at the fifth meeting of the AAMFI Governing Council on 16th February 2025, on the sidelines of the 38th African Union Summit in Addis Ababa.

    Additionally, Dr Corneille Karekezi, Group Managing Director and CEO Africa Re Corporation (Africa Re) and Mr Manuel Moses, Chief Executive Officer of the African Trade & Investment Development Insurance (ATIDI), were appointed as the first and second Vice Chairpersons of the AAMFI Governing Council, respectively.

    Established in 2024, AAMFI brings together Africa’s leading multilateral financial institutions to promote sustainable economic growth and financial self-reliance for the continent. The Alliance plays a critical role in strengthening intra-African collaboration, mobilising capital for development, and advocating for Africa’s economic interests on the global stage.

    Under Prof. Oramah’s leadership, AAMFI made significant strides, including its successful launch by African Heads of State in February 2024, the adoption of its governing Charter, the admission of 3 new members: Fund for Export Development in Africa (FEDA), African Solidarity Fund (ASF), and East African Development Bank (EADB), increasing its membership from seven founding members to a total of ten members.

    Prof. Oramah’s leadership also saw the endorsement and recognition of AAMFI by key African Union organs and stakeholders, as well as successful elevation of the profile of the Alliance highlighting its key role in shaping discussions around African multilateral and development finance.

    “I want to thank the leadership of AAMFI for entrusting me with this mandate. Looking back at what we have achieved, I am reminded of the immense potential and responsibility that lies ahead. AAMFI has laid a strong foundation for Africa’s financial sovereignty, but there is still much more to be done. I am confident that under the leadership of Mr. Samaila Zubairu, the Africa will continue to drive impactful collaborations and innovative financial solutions to accelerate Africa’s economic transformation,” said Prof. Oramah, in his statement during the handover ceremony. “

    As Chair, Zubairu will drive collaborative growth by strengthening partnerships among member institutions, African governments, and global agencies to build a robust financial architecture. His agenda prioritizes youth empowerment through industrialization, financial literacy, and pension reforms, strategic investments in infrastructure, and developing capital markets to enhance liquidity and intra-African investment. He will also advocate for cross-border capital mobilization and early warning systems to prevent financial vulnerabilities, ensuring Africa’s economic resilience and long-term prosperity.

    While accepting the Chairmanship of the AAMFI for 2025, Mr Zubairu said: I am deeply honored to assume the chairmanship of AAMFI at this pivotal moment for Africa’s economic transformation. Our collective mission is clear—to build a robust financial architecture that captures and retains value within the continent, mobilizes African capital for African priorities, and accelerate the infrastructure development that enables industrialization. By fostering deeper intra-African collaboration, and strengthening our institutions, we will unlock opportunities that create high-quality jobs, drive innovation, and secure our long-term economic resilience. I look forward to working with my esteemed colleagues to chart a path toward true financial sovereignty and sustainable prosperity for Africa.”

    Mr. Zubairu’s leadership of AFC since 2018 has been pivotal to mobilising capital for infrastructure, industrialization and trade across Africa. AFC leads some of the continent’s most significant infrastructure projects, including the Lobito Corridor, Africa’s largest rail project, and transformative renewable energy initiatives such as the Lekela Power and Red Sea Power wind generation projects, and Xlinks, which is set to export electricity from the Sahara to Europe. Under his stewardship, AFC has doubled assets invested to $15 billion, and expanded membership from 18 countries to 44, representing 80% of African nations.

    Members commended Prof. Oramah on his successful leadership and tenure and pledged their commitment and support towards a successful year for Mr Zubairu as the new Chairperson of AAMFI.

    AAMFI members include AFC, Afreximbank, Trade and Development Bank Group (TDB Group), African Reinsurance Corporation (Africa Re), African Trade and Investment Development Insurance (ATIDI), Shelter Afrique Development Bank (SHAFDB), ZEP-RE (PTA Reinsurance Company), East African Development Bank (EADB), African Solidarity Fund (ASF), and the Fund for Export Development in Africa (FEDA).

    MIL OSI Africa –

    February 25, 2025
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