Category: Banking

  • MIL-OSI United Kingdom: Update: Progressing friendship arrangement with city of Hebron, Palestine

    Source: City of Preston

    In March 2025, Preston City Council Cabinet Members chose the City of Hebron in Palestine to explore the possibilities of an informal friendship agreement between the two cities.

    The Council wants to extend the hand of friendship as a symbol of our support for the people of Palestine, through the wider Middle East and those of all faiths and communities who are suffering through conflict across the globe.

    At full council today (26 June 2025), members passed the recommendation to enter into a friendship arrangement with the City of Hebron facilitated by the Britain Palestinian Friendship and Twinning Network.

    The network is a voluntary organisation with no political ties, made up of a network of different groups with different activities, constitutions, sizes, locations and members.  

    Preston is a City of Sanctuary, offering a safe place of refuge to those fleeing war and persecution across the world, and an early adopter of the Faith Covenant, respecting differing beliefs and faiths, working together for the common good.

    The progression of the friendship will be supported by an informal network of representatives of interested parties and initially chaired by the Council’s Champion for Communities. All representatives of the Faith Covenant will be invited to sit on this network, as will other key representatives from public, civic, education and private business organisations.

    Hebron is considered one of the oldest cities in the Middle East, located in the southern part of the Occupied West Bank, 30 kilometres (19 miles) south of Jerusalem. It has a population of more than 201,000 and is believed to have lots of commonalities with Preston including a multi-cultural and diverse population.  Hebron is a chief commercial and industrial centre in the region with its main trade in limestone from nearby quarries and with a local reputation for grapes, figs, ceramics, plastics and pottery.  

    Councillor Matthew Brown, Leader of Preston City Council said:

    A friendship arrangement with Hebron is not merely a symbolic gesture. We will do what we can to offer practical support and aid, and seek to build links between local schools, churches, mosques, community centres and other types of organisations. We will promote the need for peace to prevail and hopefully after the conflict in the region ends, we can arrange visits to both Palestine and Preston to promote greater understanding, lasting peace and friendship for all.”

    Councillor Nweeda Khan, Champion for Communities added:

    “We appreciate the complexity and emotive nature of this proposal but feel we owe it to our local communities to recognise the plight of people in the Middle East caught up in the current conflict. The spirit in which we would like to progress our friendship with Hebron is that by building bonds and strengthening ties, lasting relationships built on understanding, openness, tolerance and inclusion will eradicate hate and division between communities.”

    The Council also remains committed to exploring a similar friendship with an Israeli town or city, should a similar body to the Palestinian Friendship Association can be indentified to help guide and support our work.

    MIL OSI United Kingdom

  • MIL-OSI Economics: Scheduled Banks’ Statement of Position in India as on Friday, June 13, 2025

    Source: Reserve Bank of India

    (Amount in ₹ crore)
      SCHEDULED COMMERCIAL BANKS
    (Including RRBs, SFBs and PBs)
    ALL SCHEDULED BANKS
    14-Jun-2024 30-May-2025* 13-Jun-2025* 14-Jun-2024 30-May-2025* 13-Jun-2025*
    I LIABILITIES TO THE BKG.SYSTEM (A)            
      a) Demand & Time deposits from banks 273308.16 365140.08 340603.24 277097.38 370999.12 346319.8749**
      b) Borrowings from banks 152185.60 110552.25 109671.80 152187.60 110574.25 109889.53
      c) Other demand & time liabilities 76032.19 25071.47 23927.34 76298.36 25465.93 24362.82
    II LIABILITIES TO OTHERS (A)            
      a) Deposits (other than from banks) 20902918.17 23172542.62 23069772.55 21358407.93 23662773.91 23561872.69
      i) Demand 2390694.11 2988920.70 2859239.01 2440672.19 3038379.44 2908818.31
      ii) Time 18512224.06 20183621.92 20210533.54 18917735.75 20624394.47 20653054.38
      b) Borrowings @ 780674.69 895727.00 837462.68 785083.63 900193.89 841977.70
      c) Other demand & time liabilities 965607.06 1034573.60 1106232.23 978521.91 1047707.96 1120178.02
    III BORROWINGS FROM R.B.I. (B) 111102.00 6516.00 2248.00 111102.00 6516.00 2248.00
      Against usance bills and / or prom. Notes            
    IV CASH 85283.14 87179.07 90471.61 87674.97 89604.92 93073.93
    V BALANCES WITH R.B.I. (B) 983708.00 956086.24 932453.46 1003434.00 975236.91 951630.59
    VI ASSETS WITH BANKING SYSTEM            
      a) Balances with other banks            
      i) In current accounts 7664.17 11434.59 10498.68 10483.91 13853.23 12729.59
      ii) In other accounts 178513.58 255330.58 244036.86 224431.26 318135.43 308394.18
      b) Money at call & short notice 11390.08 22812.64 21743.92 25192.27 40349.51 37684.89
      c) Advances to banks (i.e. due from bks.) 52270.19 36147.80 31496.42 54389.85 38542.46 33717.34£
      d) Other assets 107937.02 78091.66 65849.37 110591.29 82799.25 71109.15
    VII INVESTMENTS (At book value) 6231385.82 6706717.24 6691443.60 6384112.72 6861687.28 6877810.85
      a) Central & State Govt. securities+ 6230374.06 6706168.85 6690874.45 6376135.84 6853140.23 6869498.86
      b) Other approved securities 1011.77 548.39 569.14 7976.88 8547.05 8311.99
    VIII BANK CREDIT (Excluding Inter-Bank Advances) 16706417.54 18287376.91 18313977.69 17143118.18 18753740.95 18783780.83
      a) Loans, cash credits & Overdrafts $ 16392988.28 17949958.34 17976567.95 16826405.29 18412982.24 18443143.24
      b) Inland Bills purchased 64052.90 79467.07 78124.27 65383.33 80743.89 79300.44
      c) Inland Bills discounted 208278.98 222449.12 223752.50 209565.71 223956.61 225217.50
      d) Foreign Bills purchased 16140.00 13866.49 13510.87 16370.65 14063.24 13738.06
      e) Foreign Bills discounted 24957.38 21635.89 22022.09 25393.21 21994.97 22381.60
    NOTE
    * Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
    (A) Demand and Time Liabilities do not include borrowings of any Scheduled State Co-operative Bank from State Government and any reserve fund deposits maintained with such banks by any co-operative society within the areas of operation of such banks.
    ** This excludes deposits of Co-operative Banks with Scheduled State Co-operative Banks. These are included under item II (a).
    @ Other than from Reserve Bank, National Bank for Agriculture and Rural Development and Export Import Bank of India.
    (B) The figures relating to Scheduled Commercial Banks’ Borrowings in India from Reserve Bank and balances with Reserve Bank are those shown in the statement of affairs of the Reserve Bank. Borrowings against usance bills and/ or promissory notes are under Section 17(4)(c) of the Reserve Bank of India Act, 1934. Following a change in the accounting practise for LAF transactions with effect from July 11, 2014, as per the recommendations of Malegam Committee formed to Review the Format of Balance Sheet and the Profit and Loss Account of the Bank, the transactions in case of Repo / Term Repo / MSF are reflected under ‘Borrowings from RBI’.
    £ This excludes advances granted by Scheduled State Co-operative Banks to Co-operative banks. These are included under item VIII (a).
    + Includes Treasury Bills, Treasury Deposits, Treasury Savings Certificates and postal obligations.
    $ Includes advances granted by Scheduled Commercial Banks and Scheduled Cooperative Banks to Public Food Procurement Agencies (viz. Food Corporation of India, State Government and their agencies under the Food consortium).
    Food Credit Outstanding as on
    (Amount in ₹ crore)
    Date 14-Jun-2024 30-May-2025 13-Jun-2025
    Scheduled Commercial Banks 36923.02 70580.71 67605.56
    Scheduled Co-operative Banks 50622.17 51972.99 51974.00

    The expression ‘Banking System’ or ‘Banks’ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934.

    No. of Scheduled Commercial Banks as on Current Fortnight:120

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/606

    MIL OSI Economics

  • MIL-OSI Banking: Deputy Secretary-General of ASEAN attends the 46th Asia-Europe Foundation Board of Governors Meeting

    Source: ASEAN

    Deputy Secretary-General of ASEAN for Community and Corporate Affairs, Nararya S. Soeprapto, attended the 46th Asia-Europe Foundation Board of Governors Meeting (ASEFBoG46) on 26-27 June 2025 in Kraków, Poland. The Meeting noted the report on the work of the ASEF Management, reviewed the implementation of ASEF’s ongoing initiatives, and approved its project proposals for 2025 and 2026. The Board of Governors also deliberated ways to enhance ASEF’s visibility and profile, and to further promote cultural and people-to-people connectivity between Asia and Europe.

    The post Deputy Secretary-General of ASEAN attends the 46th Asia-Europe Foundation Board of Governors Meeting appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI: Sale of Custody Business in Hsbc Germany

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    27 June 2025

    SALE OF CUSTODY BUSINESS IN HSBC GERMANY

    HSBC Continental Europe has reached an agreement to sell its custody business in Germany to BNP Paribas S.A, Niederlassung Deutschland (‘BNP Paribas’) (the ‘Potential Transaction’), reinforcing its focus on being the leading corporate and institutional bank in Germany and Europe for international clients.

    This decision forms part of the simplification strategy of HSBC announced in October 2024. HSBC is focused on increasing its leadership and market share in the areas where it has a clear competitive advantage, and where it has the greatest opportunity to grow and support its clients. This includes connecting European clients to opportunities across HSBC’s international network. For Securities Services, this means focusing on HSBC’s market-leading franchise in Asia and the Middle East and providing best in class custody and fund services to clients in the UK and Europe via our strategic hubs in London, Ireland and Luxembourg.

    The custody business in Germany focuses on domestic custody, clearing and depository services for German institutional clients.

    All custody staff employed by HSBC Continental Europe S.A., Germany, as well as its assets and clients, would transfer to BNP Paribas as part of the Potential Transaction.

    Completion of the Potential Transaction is subject to customary regulatory and anti-trust approvals and the conclusion of negotiations with the Works Council in Germany.

    A phased transfer of staff and clients starting early 2026 is anticipated. Both parties are focused on enabling a smooth transition for clients and colleagues.

    The analysis of strategic options for HSBC Germany’s fund administration business is ongoing.

    Contacts:       

    HSBC Continental Europe
    Headquartered in Paris, HSBC Continental Europe is an indirectly held subsidiary of HSBC Holdings plc. HSBC Continental Europe comprises corporate and institutional banking, private banking, insurance and asset management activities across Continental Europe, including the business activities of 10 European branches (in Belgium, Czech Republic, Germany, Ireland, Italy, Luxembourg, the Netherlands, Poland, Spain and Sweden) and two banking subsidiaries in Luxembourg and Malta. HSBC Continental Europe’s mission is to serve both customers in Continental Europe for their needs worldwide and Group customers for their needs in Continental Europe.

    HSBC Continental Europe S.A., Germany (HSBC Germany’)
    HSBC Germany is the German branch of HSBC Continental Europe, whose activities comprise corporate and institutional banking, private banking and asset management.

    HSBC Holdings plc
    HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the world’s largest banking and financial services organisations.

    About BNP Paribas (group.bnpparibas)
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    About Securities Services at BNP Paribas (securities.cib.bnpparibas)
    BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates, and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 31 March 2025, Securities Services had USD 15.4 trillion in assets under custody, USD 2.9 trillion in assets under administration and 9,350 funds administered.

    Attachment

    The MIL Network

  • MIL-OSI China: AIIB updates corporate strategy

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

    The Asian Infrastructure Investment Bank (AIIB) on Thursday released a new version of its corporate strategy for the period of 2021-2030, outlining its roadmap for future development.

    Unveiled at the 10th Annual Meeting of the Board of the Governors of the Asian Infrastructure Investment Bank from June 24 to 26, the new version is an update of the one that AIIB released five years ago.

    AIIB’s previous version of corporate strategy defines its mission as “financing infrastructure for tomorrow,” with the operational focus on green infrastructure, connectivity and regional cooperation, technology-enabled infrastructure, and private capital mobilization.

    Under the updated strategy, AIIB aims to double its annual financing goal to $17 billion in 2030, and maximize climate impact, targeting over 50% of its own financing to climate-related investments annually in 2025. In fact, AIIB has surpassed this target for three consecutive years since 2022.

    Since its establishment 10 years ago, AIIB has maintained a clearly defined mission of addressing infrastructure financing and development needs across Asia and beyond. It champions multilateralism by enhancing infrastructure connectivity, advancing regional economic integration, and improving people’s living standards.

    As of the first day of the annual meeting on June 24, AIIB had approved a total of 322 projects, with financing exceeding US$60 billion. These investments have mobilized over $200 billion in capital for infrastructure development, benefiting 38 members across Asia and beyond.

    At the meeting, AIIB released the report titled “Scaling Impact through Collaboration: Shaping the Future of AIIB Partnership in the Multilateral Development Bank Context,” reiterating its firm commitment in multilateralism.

    “The past decade has been a decade of collaboration,” said Jin Liqun, president of AIIB, at a press conference of the annual meeting. He said such cooperation has manifested both in AIIB’s partnerships with other institutions.

    The AIIB is embarking on a new decade-long journey and stands ready to deepen collaboration with its diverse partners, including the World Bank, private capital providers, philanthropic organizations, and others, Jin said.

    MIL OSI China News

  • MIL-OSI Europe: The banking sector in the EU continues to show resilience in capital, liquidity and profitability, but geopolitical events could pose significant challenges for the industry

    Source: European Banking Authority

    The European Banking Authority (EBA) today released the Spring 2025 edition of its risk assessment report (RAR), which also analyses the funding plans of banks within the European Union/European Economic Area (EU/EEA). This report is supplemented by the Spring Risk Assessment Questionnaire (RAQ).

    Key findings from the EBA risk assessment

    •    As of the end of 2024, banks maintained a robust capital base, while profits were at historically high levels. Increased uncertainty and financial market volatility could pose challenges for the sustainability of these.
    •    Liquidity levels remained substantial and significantly exceeded minimum standards, although potential risks may emerge due to heightened volatility.
    •    EU/EEA banks’ credit risks could rise due to their exposure to sectors affected by tariffs or supply chain disruptions stemming from geopolitical events.
    •    Operational risks are on the rise, particularly in relation to cyber threats and a surge in fraudulent activities.
    •    The funding plans of EU/EEA banks indicate a focus on leveraging their deposit base and issuing secured debt to facilitate strong asset growth.
    •    A significant portion of EU/EEA banks’ exposures could be affected by both transitional and physical climate-related risks, although there is considerable variation among different banks and countries.

    Documents

    Risk Assessment Report – Spring 2025 [digital]
    Risk Assessment Report Spring 2025

    (2.81 MB – PDF)

    RAQ Booklet graphs Spring 2025

    (5.08 MB – PDF)

    Risk Assessment Report Spring 2025 – presentation

    (1.06 MB – PDF)

    MIL OSI Europe News

  • MIL-OSI United Nations: Ghana Charts Path for Ethical, Regular Labour Mobility at High-Level Dialogue

    Source: International Organization for Migration (IOM)

    Accra, 27 June 2025 – The Government of the Republic of Ghana, in collaboration with the International Organization for Migration (IOM) and the African Union Commission (AUC), convened a National Policy Dialogue on Labour Mobility Pathways aimed at turning the potential of labour migration into sustainable development outcomes.

    In 2019, more than 970,000 Ghanaians lived abroad, sending money home, sharing skills, and investing in the country. At the same time, Ghana hosted over 466,000 international migrants, mostly from countries in the Economic Community of West African States (ECOWAS), demonstrating its strong ties to the region’s labour market. With an active diaspora, a growing youth population, and strong regional partnerships, Ghana is well placed to use labour mobility to boost its economy and support development across West Africa.

    “The National Policy Dialogue on Labour Mobility pathways marks a historic milestone in our collective pursuit for safe, orderly, and regular migration pathways,” said Dr. Abdul Rashid Hassan Pelpuo, Minister, Labour Jobs and Employment. “This initiative will undoubtedly contribute to empowering people, bolstering economies, and advancing sustainable development aspirations.”

    The three-day discussions brought together senior policymakers, regional and international organizations, the World Bank, diaspora representatives, the private sector, civil society actors, migrants, and diplomatic missions of major destination countries for Ghanaian migrants to build a coordinated vision for safe, regular, and dignified labour mobility not only in Ghana but also across West and Central Africa. 

    “This dialogue comes at a critical time for Ghana and the region,” said Fatou Diallo Ndiaye, IOM Ghana Chief of Mission. “At a time when irregular migration continues to expose migrants to risks of exploitation and abuse, expanding regular migration pathways is both a humanitarian necessity and a development opportunity,” she added.

    As a Champion Country in the implementation of the Global Compact on Migration, Ghana continues to innovate and lead in providing protection to Ghanaians abroad, as well as migrants living in the country. In recent years, Ghana has aligned its legal policies with global and regional frameworks, including the AU Agenda 2063, the AU Migration Policy for Africa and key instruments such as the National Labour Migration Policy, the Human Trafficking Act, the Immigration Act, the National Migration Policy, and the Diaspora Engagement Policy.

    Ghana is also deepening international cooperation through the development of Bilateral Labour Migration Agreements (BLMAs) and Skills Mobility Partnerships with comprehensive support through the AU-IOM-ILO Joint Labour Migration Programme (JLMP), reinforcing its commitment to safe, regular, and mutually beneficial labour mobility.

    The High-Level Policy Dialogue identified key priorities, including stronger coordination among agencies and stakeholders, improved data sharing, and innovative approaches to labour mobility such as skills partnerships, complementary pathways, and schemes that combine education with work or protection.

    As labour markets evolve and migration dynamics shift across West and Central Africa, IOM remains committed to its role as a trusted convener, supporting governments, communities, and partners in co-creating solutions that ensure migration is safe, regular, and beneficial for all.

    The National Policy Dialogue on Labour Mobility Pathways in Ghana was implemented with support from the JLMP and funded by the Swiss Agency for Development Cooperation and the Swedish International Development Cooperation Agency.
     

    For more information, please visit IOM’s Media Centre. 

    MIL OSI United Nations News

  • MIL-OSI Europe: On the road to COP30: mobilising climate finance | London Climate Action Week (LCAW), Event at the German Embassy

    Source: Deutsche Bundesbank in English

    Check against delivery.

    1 Welcome
    Ladies and Gentlemen, 
    Good afternoon, and thank you for the kind introduction. It is a great honour to be here with you today to discuss the way forward on the road to Belém. 
    First of all, let me thank the German Embassy for organising this event and for bringing together such a distinguished and diverse group of leaders and experts. Events like this are so important, especially in the current context of numerous economic and geopolitical challenges that (threaten to) overshadow climate change. 
    It is essential to have spaces and forums where stakeholders from the public and private sectors, academia and civil society come together to exchange ideas on how to move ahead. The strong attendance here today is testament to our dedication and reflects our shared recognition that the serious risks arising from climate change have to be taken seriously. 
    2 The Role of the NGFS
    I am proud to represent not only the Deutsche Bundesbank but also the Network for Greening the Financial System (NGFS), which I have the honour to chair.
    The NGFS is a global coalition of central banks and supervisors committed to addressing climate and nature-related risks in the financial system. Since its foundation in 2017 the NGFS has grown significantly, today boasting 145 members and observers. Our global and growing membership underscores the increasing international recognition of climate and nature risks.
    Climate change is unfolding rapidly, right in front of our eyes, and poses profound risks to our economies and financial systems. It is more important than ever to continue our independent, data-driven and science-based work. 
    I am very glad to see colleagues from the Bank of England and my fellow Deputy Governor Paulo Picchetti from the Banco Central do Brasil in the audience today. Your institutions have contributed a lot to the work of the NGFS. 
    3 Climate inaction has high economic costs
    The urgency of ambitious climate action cannot be overstated. 
    Work by the NGFS shows economic and financial risks arising due to climate change and nature loss. 
    Last November we released the latest update of our long-term climate scenarios. The scenarios show very clearly that climate inaction has high economic costs. 
    If we stick to current policies, global GDP could be 15 % lower by 2050, compared to a world without climate change.[1] This does not include sea level rises, migration or nature loss.
    I know that 2050 is, in practice, beyond the planning horizon of many corporates and political decision makers. That is why the NGFS has developed short-term climate scenarios with a time horizon of three to five years to help bridge this gap. 
    These scenarios also show that a delayed transition is expensive. Our stress scenarios assume extreme weather events. Our scenarios show that delaying the transition by just three years could reduce global GDP by almost 1 % by 2030.[2]
    The NGFS scenarios are a public good, designed to help financial institutions and the real economy assess the potential impacts of climate change. I encourage you to make use of them to manage climate-related risks. 
    4 Scaling up global climate finance
    Ladies and Gentlemen, addressing climate risks requires a collective effort to align global financial flows with climate goals. 
    To meet the goals of the Paris Agreement, global climate finance needs to be significantly scaled up from current levels. 
    The Baku to Belém Roadmap to 1.3 Trillion is a key initiative in achieving that goal.[3] The roadmap provides a pathway for mobilising the capital needed for the transition to a low-carbon economy. I am particularly excited to hear more about this roadmap from André Corrêa do Lago in a moment.
    The public and the private sector must work hand in hand to scale up climate finance. But the biggest share has to come from the private sector, as public money has its limits and more and more challenges for public money are arising. 
    And I look forward to hearing from other participants here about how the financial sector can help to mobilise climate finance.
    5 The role of the corporate sector
    At the same time, climate finance is only one side of the coin. The other side is the low-carbon transition of industries and businesses. It is important to bring the corporate sector on board.
    They are the ones who will innovate, invest, and implement the changes needed to achieve climate goals. The renewable energy transition is key to addressing climate change. So, the energy sector plays a pivotal role in moving away from fossil fuels.
    I am very happy that Greg Jackson from Octopus Energy will join our discussions and share his insights with us. 
    6 Conclusion
    Ladies and gentlemen, let me conclude. As we move towards COP30, the stakes could not be higher. Last month was the second-warmest May on record globally, just slightly cooler than May 2024.[4]
    Climate change is not a distant threat; it is a present reality. The decisions today will shape the world for generations to come. And let us remember that while the challenges are great, so too are the opportunities.
    Footnotes:

    See: NGFS Climate Scenarios for central banks and supervisors – Phase V | Network for Greening the Financial System
    NGFS short-term climate scenarios, see: NGFS Short-term Climate Scenarios for central banks and supervisors | Network for Greening the Financial System
    For an overview, see: Baku to Belém Roadmap to 1.3T | UNFCCC
     Second-warmest May globally, dry/wet contrast across Europe in spring | Copernicus

    MIL OSI

    MIL OSI Europe News

  • MIL-OSI Europe: REPORT on the 2023 and 2024 Commission reports on North Macedonia – A10-0118/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on the 2023 and 2024 Commission reports on North Macedonia

    (2025/2021(INI))

    The European Parliament,

     having regard to the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of North Macedonia, of the other part[1],

     having regard to North Macedonia’s application for membership of the European Union, submitted on 22 March 2004,

     having regard to the European Council decision of 16 December 2005 to grant North Macedonia EU candidate country status,

     having regard to the European Council conclusions of 19-20 June 2003, including the annex thereto entitled ‘The Thessaloniki agenda for the Western Balkans: Moving towards European integration’,

     having regard to Regulation (EU) 2021/1529 of the European Parliament and of the Council of 15 September 2021 establishing the Instrument for Pre-Accession assistance (IPA III)[2],

     having regard to Regulation (EU) 2024/1449 of the European Parliament and of the Council of 14 May 2024 on establishing the Reform and Growth Facility for the Western Balkans[3],

     having regard to the Commission communication of 5 February 2020 entitled ‘Enhancing the accession process – A credible EU perspective for the Western Balkans’ (COM(2020)0057),

     having regard to the Commission communication of 8 November 2023 entitled ‘2023 Communication on EU Enlargement Policy’ (COM(2023)0690), accompanied by the Commission staff working document entitled ‘North Macedonia 2023 Report’ (SWD(2023)0693),

     having regard to the Commission communication of 8 November 2023 entitled ‘New growth plan for the Western Balkans’ (COM(2023)0691),

     having regard to the Commission communication of 20 March 2024 on pre-enlargement reforms and policy reviews (COM(2024)0146),

     having regard to the Commission communication of 24 July 2024 entitled ‘2024 Rule of Law Report’ (COM(2024)0800), accompanied by the Commission staff working document entitled ‘2024 Rule of Law Report – Country Chapter on the rule of law situation in North Macedonia’ (SWD(2024)0830),

     having regard to the Commission communication of 30 October 2024 entitled ‘2024 Communication on EU enlargement policy’ (COM(2024)0690), accompanied by the Commission staff working document entitled ‘North Macedonia 2024 Report’ (SWD(2024)0693),

     having regard to the Reform Agenda of North Macedonia as approved by the Commission under the Reform and Growth Facility on 23 October 2024,

     having regard to the declarations of the EU-Western Balkans summits of 13 December 2023 and of 18 December 2024 in Brussels as well as the declarations of the EU-Western Balkans summits held in Sofia, Zagreb and Brdo pri Kranju in 2018, 2020 and 2021 respectively, and the Declaration on the Common Regional Market and the Declaration on the Green Agenda for the Western Balkans agreed on 10 November 2020 at the Sofia Summit within the Berlin Process,

     having regard to the Council conclusions of 18 July 2022 on Enlargement – North Macedonia and Albania  and the Council conclusions on Enlargement of 17 December 2024,

     having regard to the final report of 23 September 2024 of the Organization for Security and Co-operation in Europe (OSCE) Office for Democratic Institutions and Human Rights (ODIHR) Election Observation Mission on North Macedonia’s presidential election on 24 April 2024 and parliamentary elections on 8 May 2024,

     having regard to the Berlin Process launched on 28 August 2014,

     having regard to the Treaty of friendship, good neighbourliness and cooperation between Bulgaria and North Macedonia, signed on 1 August 2017 and ratified in January 2018;

     having regard to the Final Agreement for the settlement of the differences as described in the United Nations Security Council resolutions 817 (1993) and 845 (1993), the termination of the Interim Accord of 1995, and the establishment of a strategic partnership between Greece and North Macedonia, agreed on 17 June 2018, also known as the Prespa Agreement,

     having regard to the joint staff working document entitled ‘Objectives and Indicators to frame the implementation of the Gender Action Plan III (2021-25)’ (SWD(2020)0284) accompanying the joint communication of the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 25 November 2020 entitled ’EU Gender Action Plan (GAP) III – An ambitions vision for gender equality and women’s empowerment in EU external action (JOIN(2020)0017), as well as the Country Level Implementation Plan (CLIP) for North Macedonia,

     having regard to the 2023 European Commission against Racism and Intolerance (ECRI) Report on North Macedonia, adopted on 29 June 2023 and published on 20 September 2023,

     having regard to the declaration and joint recommendations adopted at the 23rd meeting of the EU-North Macedonia Joint Parliamentary Committee, held on 27 and 28 February 2025 in Skopje,

     having regard to its previous resolutions on North Macedonia, and in particular its resolution of 24 October 2019 on opening accession negotiations with North Macedonia and Albania[4],

     having regard to Rule 55 of its Rules of Procedure,

     having regard to the report of the Committee on Foreign Affairs (A10-0118/2025),

    A. whereas North Macedonia has held EU candidate country status since 2005 and successfully completed the screening process in December 2023;

    B. whereas the aspirations of citizens of North Macedonia to become part of the EU have led to progress in terms of democracy and socio-economic reforms, while the EU accession process continues to experience regrettable delays for various reasons;

    C. whereas the EU has mobilised approximately EUR 210 million in macro-financial assistance loans since 2020, aimed at stabilising the Macedonian economy, aiding its recovery from the COVID-19 pandemic and accelerating its reform progress;

    D. whereas North Macedonia is a partner that is aligned with the EU’s common foreign and security policy in the vast majority of cases and has played a constructive role in the region; whereas North Macedonia’s recent abstention from United Nations General Assembly Resolution ES-11/7 of 24 February 2025 on Ukraine and its co-sponsorship of an alternative resolution led by the United States indicates an unexpected and regrettable shift in its foreign policy alignment;

    E. whereas North Macedonia participates in EU military crisis management operations, including EUFOR Althea in Bosnia and Herzegovina;

    F. whereas the Council reached new conclusions in July 2022 which mean that North Macedonia needs to adopt the outstanding constitutional changes, in line with its commitments, so that the opening phase of accession negotiations can be completed immediately;

    G. whereas the geopolitical changes, the war in Ukraine, disinformation and misinformation have a strong impact on all European countries, both politically and economically;

    H. whereas North Macedonia remains a target of foreign malign influence operations, including efforts to fracture the country’s social fabric and weaponise anti-EU sentiment, notably via Serbian-language tabloids and media outlets, which function as regional amplifiers of Kremlin narratives and enjoy considerable influence; whereas North Macedonia expelled 13 Russian diplomats between 2018 and 2023 for activities incompatible with their diplomatic status, suggesting an ongoing presence of covert influence networks; whereas China has sought to expand its influence through information control, investment diplomacy and coercive clauses in infrastructure loan agreements;

    I. whereas North Macedonia’s authorities have proposed solutions for constitutional change that did not meet the conditions of the July 2022 Council conclusions;

    J. whereas any accession country is expected to respect democratic values, the rule of law and human rights, and to abide by EU law;

    K. whereas the Council has not excluded unequivocally the adoption of further new conditions for the starting of accession negotiations;

    L. whereas the EU has consistently demonstrated its recognition of the Macedonian language and identity;

    1. Reiterates its full support for North Macedonia’s continued and persistent commitment to join the EU and for the necessary transformative changes that are required to fulfil the accession criteria; commends the country’s commitment to European integration and encourages continued efforts in advancing EU-aligned reforms, despite the challenges and setbacks that have tested the patience and trust of the Macedonian society;

    2. Underlines that EU accession remains a matter of political will in fulfilling the criteria and implementing the commitments undertaken, in terms of both making the necessary reforms and adopting the necessary constitutional amendments;

    3. Recalls the need to maintain the momentum and credibility of the EU integration process; notes that North Macedonia continues to demonstrate commitment to EU integration and alignment with EU policies; calls for the swift advancement of accession negotiations, while noting the importance of adopting the constitutional amendments; urges the European Council to signal, publicly and unequivocally, that the Council intends to swiftly and unconditionally take the positive decision to enter into the next phase of accession negotiations with North Macedonia once the conditions of its conclusions of 18 July 2022 have been fulfilled, while fully respecting the Macedonian language and identity; encourages all political parties in North Macedonia to engage in constructive dialogue to achieve the necessary consensus on these amendments, which would strengthen the country’s multi-ethnic character and accelerate its progress towards EU membership; believes that strengthening the links between the multiple ethnicities is essential for improving social cohesion and ensuring more effective governance; calls on the Member States, the Council and the Commission to safeguard the predictability and credibility of the accession process, also with a view to maintaining popular support for accession in enlargement countries;

    4. Welcomes the successful completion of the screening process for North Macedonia at the end of 2023; encourages North Macedonia to adopt the constitutional amendments that the country committed to making and implementing, as required by the Council, in order for the accession negotiation process to proceed;

    5. Commends the commitment of the Macedonian people to EU integration and the support they show to this project two decades on from starting the process; urges the Commission to do the utmost to help the authorities of North Macedonia accomplish the necessary steps before entering into the next negotiation phase as well as further along the negotiation process, to help deliver on the expectations of citizens and the country and to explore all measures for gradual integration into the EU structures, thus increasing trust in the EU and its democratic values;

    6. Recalls that the accession process should not be used to settle bilateral disputes, obstruct merit-based progress on the European path or outweigh the broader strategic interests of the Union, but that such disputes must rather be addressed through open dialogue and genuine cooperation; underlines that accession negotiations should follow a clear path, guided by objective criteria and solely based on merit and the fulfilment of the accession criteria (Copenhagen criteria), which require in-depth reforms across fundamental areas, as well as the presence of stable institutions that guarantee democracy, the rule of law, human rights and respect for and the protection of minorities;

    7. Affirms the importance of unequivocally recognising and respecting the Macedonian language and identity as an integral part of the nation’s heritage and constitutional order, but also of European values; notes that the European institutions, in country reports and official documents, consistently refer to the Macedonian language in line with international recognition and the implementation of the Prespa Agreement; reaffirms that the respect for linguistic, cultural and national identity is a fundamental component of the EU accession process and a cornerstone of democratic societies which will be further affirmed with the accession to the family of European nations;

    8. Repeats its calls for the EU’s capacity to act to be enhanced through a reform of its decision-making, including through the introduction of qualified majority voting on the intermediate steps in the accession process, in particular at the start of negotiations and the opening and closing of individual negotiating clusters and chapters;

    9. Welcomes the new Reform and Growth Facility for the Western Balkans which will provide EUR 750 million in grants and loans to North Macedonia when it meets the conditions set out in its Reform Agenda; welcomes, in this context, the excellent and ambitious Reform Agenda, which sets clear, transparent goals and targets, and calls on the authorities to focus on its rigorous implementation; underlines the need to focus on incentivising reforms and reinforcing economic stability as well as on public administration, governance, the rule of law and the fight against corruption, decarbonisation and the green transition, digitalisation, connectivity and human capital development, while addressing social challenges;

    10. Notes the funds being received by North Macedonia from individual Member States and the good cooperation between them; warns however about strengthening alliances with illiberal regimes;

    11. Commends North Macedonia on its continued commitment to the EU integration process and regrets the delays in the accession process; welcomes the stability of and encourages continued efforts to secure interethnic relations and the implementation of the Ohrid Framework Agreement;

    12. Encourages North Macedonia to achieve tangible results in complying with the EU’s expectations under the negotiating framework and the Council conclusions of July 2022, including relevant constitutional changes, in line with the country’s commitments;

    13. Urges North Macedonia to intensify efforts to strengthen the rule of law and judicial independence, including in judicial appointments and the functioning of the Judicial Council, to counter corruption, reform its public administration and improve the transparency and concentration of media ownership; encourages further implementation of systemic measures to ensure transparency and efficiency in governance;

    14. Expresses its profound sorrow and heartfelt solidarity following the tragic Kočani nightclub fire that led to the death of more than 50 young people and injuries to more than 150 others and offers its condolences to the victims and their families; commends the rapid use of the EU Civil Protection Mechanism and the help provided by the Member States to save as many lives as possible; commends neighbouring and EU countries, in particular Greece and Bulgaria, for the immediate support and solidarity they showed and the medical treatment they provided to victims;

    Functioning of democratic institutions

    15. Notes that, while democratic institutions in North Macedonia function satisfactorily, political polarisation remains a major stumbling block to necessary reforms; calls on the political parties represented in the country’s parliament to work together to reach an agreement on those reforms;

    16. Welcomes the adoption of new rules of procedure by the Assembly of the Republic of North Macedonia (Sobranie), facilitated by the European Parliament within the framework of the Jean Monnet Dialogue; stresses, however, that persistent political polarisation continues to delay important reforms and appointments; emphasises that cross-party collaboration and an improved political climate remain vital to accelerate the implementation of EU-related reforms and strengthen democratic institutions;

    17. Notes with concern that about half of all laws enacted by the Sobranie in 2023 were approved through shortened procedures; calls on the Sobranie to improve its legislative planning, coordination and quality through proper consultation procedures and parliamentary oversight, in particular with a view to the conclusions of the Jean Monnet Dialogue and to avoid fast-track procedures;

    18. Stresses that, while the 2024 parliamentary and presidential elections were competitive, and democratic and amendments to the Electoral Code have been made, comprehensive electoral reform is still needed; calls strongly for the implementation of the outstanding recommendations made by the OSCE/ODIHR and the Venice Commission through an inclusive revision of the Electoral Code, while underlining the importance of insulating future electoral processes from malign foreign interference and information manipulation, including through the adoption of robust cybersecurity and online campaign transparency rules;

    19. Calls for improved regulation of the financing of political parties and campaigns, including measures to increase transparency regarding the funds and expenses of political parties; urges a revision of the rules on state advertising in commercial media and paid political advertisement; emphasises the need for functioning oversight mechanisms to ensure integrity in party financing and for equal and adequate media access for political parties and independent candidates;

    20. Calls for the continued modernisation of a merit-based public administration, addressing systemic challenges of politicisation, strengthening transparent recruitment processes, and reforming local self-government to provide better social services for citizens and to develop tailor-made local and regional development strategies; urges the authorities to step up their efforts and adopt and implement the necessary legislation with a view to improving public trust in the administration and fostering a resilient and capable public service that can effectively respond to contemporary challenges and serve the needs of the community; commends the 2023-2030 public administration strategy and the related action plan for 2023-2026 adopted in July 2023; acknowledges that they cover all relevant reform areas and set out a clear baseline, objectives and targets, thus identifying crucial policy challenges; regrets, however that the implementation rate remains low;

    21. Calls for further steps to ensure the systemic accountability of public institutions through meaningful and public stakeholder consultations, including with regard to the implementation of the Reform Agenda, and to provide feedback from the consultations conducted; commends the law on general administrative procedures that is providing for simplification, but strongly recommends that it be implemented systematically across the administration;

    22. Urges the authorities of North Macedonia to refrain from opaque, politicised dismissals from, and appointments to, positions within independent bodies and agencies, as well as to ensure that the institutions are adequately funded and that decisions and recommendations are implemented consistently; notes with regret the continued lack of progress in strengthening the office of the Ombudsman;

    Media and civil society

    23. Welcomes North Macedonia’s steady progress in assuring media freedom; recalls however, the need for continued reforms to ensure an independent and resilient media landscape, including reforming the legal framework governing online and offline media to align fully with the European Media Freedom Act[5], addressing persistent challenges in media ownership transparency, digital media disclosure and media concentration; underlines the need for media reform that prioritises anti-concentration measures to safeguard journalistic integrity; emphasises the urgent need to counter malign foreign influence in the media landscape, including disinformation disseminated by actors linked to Russia and China;

    24. Calls on the authorities to adopt a legal framework that effectively protects journalists, human rights defenders, environmental activists and other stakeholders from strategic lawsuits against public participation (SLAPPs), and to implement the provisions of the EU Anti-SLAPP Directive[6];

    25. Urges the authorities to ensure full transparency and unimpeded access to information for citizens;

    26. Notes with concern the reinstatement of government advertising in commercial media in North Macedonia; stresses the heightened risk of this measure opening the media market to disruption and undue political influence, thus endangering media independence and media pluralism; reiterates its calls for the comprehensive reform of the rules governing state financing and political party advertising in the media, noting the lack of transparency, the ongoing misuse of state funds for political advertising, and the continued risk of compromising media independence through opaque funding mechanisms; calls strongly for these reforms to be adopted and implemented before the local elections planned for autumn 2025;

    27. Underlines the need to strengthen the independence and capacity of the media regulator, the public service broadcaster and the regulator of electronic communication;

    28. Encourages action to enhance the editorial and financial independence, impartiality and professionalism of public service broadcasters and media regulators, while noting the continued delay in appointing key oversight bodies and the need for comprehensive modernisation efforts; calls for stricter transparency and ownership rules to expose covert influence, including foreign-sponsored media content, and for the establishment of mechanisms to identify and disrupt coordinated foreign disinformation networks;

    29. Notes that certain Chinese diplomatic entities have financed paid content and opinion pieces in Macedonian media outlets without clear labelling; recalls that a 2023 analysis found that Russian state-affiliated actors had used Serbian media proxies to disseminate narratives hostile to NATO and to claim that the EU is pressuring North Macedonia to ‘abandon its identity’;

    30. Expresses concern over the ongoing threats and attacks against independent journalists and media professionals, including misogynistic online harassment targeting women journalists, often targeting those reporting on the rule of law, corruption and justice; welcomes the assignment of a dedicated prosecutor to monitor these attacks on journalists and oversee the establishment of cyberbullying reporting mechanisms; calls for stronger measures to protect media professionals from physical and non-physical threats, harassment and the inappropriate use of language by public figures;

    31. Encourages North Macedonia to continue the efforts to combat hate speech in all of its forms and targeting all groups, to proactively prevent and thoroughly investigate all instances of hate speech, hate crimes and intimidation, systematically prosecute related attacks, with a view to achieving convictions and ensuring the safety and security of their targets, such as journalists, people belonging to minorities, communities such as Bulgarians, and other vulnerable groups;

    32. Expresses concern about the rise in hate speech and growing threats from disinformation in online media, over which the national Agency for Audio and Audiovisual Media Services has no regulatory authority; calls for strengthened measures to support investigative journalism, fact-checking capabilities and media literacy and to improve the legal framework and interinstitutional capacity in order to combat hate speech, disinformation and foreign interference; is concerned by widespread disinformation campaigns which call into question democratic values and the country’s goal of EU membership; calls, in this regard, for the support of the EU institutions to help the country mitigate these malicious effects; welcomes civil society initiatives promoting media fact-checking, digital literacy in schools and the combating of the spread of hate speech, and notes that nearly 50 % of the citizens of North Macedonia have adopted false narratives about international events, particularly regarding the war in Ukraine, underscoring the urgency of reinforcing societal resilience against malign information manipulation;

    33. Underlines that civil society is vital in fostering democracy and pluralism and promoting good governance and social progress; welcomes the country’s vibrant and constructive civil society, which plays a very crucial and positive role in the reform process, and recalls that further efforts are needed to ensure inclusive, timely and meaningful consultation and transparency, as well as formal mechanisms for cooperation; welcomes, against this backdrop, the recent initiation of the process for re-establishing the Council for Cooperation with and Development of the Civil Society Sector and calls for enhanced cooperation between the government and civil society, especially in mitigating the implications for civil society of the recent ‘freeze’ of US Agency for International Development (USAID) funds; notes that, while civil society organisations operate in an overall enabling environment, legal and financial frameworks need to be implemented to ensure that their public funding is increased and that public funding mechanisms are transparent; is concerned about reports of an increase in hostile statements towards civil society and encourages the Ministry of Internal Affairs to work with civil society organisations to develop a security protocol for human rights defenders to ensure their protection against threats from non-state actors; calls strongly for further enhancement of the role of civil society by ensuring that it continues to be meaningfully included in the decision-making process and by consulting the Venice Commission before adopting future legislation related to non-governmental organisations (NGOs);

    Fundamental rights

    34. Commends North Macedonia for ratifying most international human rights instruments; expresses concern, however, about the level of implementation, the lack of progress in gender equality, the rise of anti-gender movements and the increase in their influence, which have a negative impact on legislative and policymaking processes; urges the government to fully implement the Istanbul Convention; calls on the authorities to adopt the new Law on Gender Equality and to strengthen formal government structures designed to promote gender equality and improve the status and rights of women at all levels, as well as to ensure the effective implementation of the gender equality strategy and the national action plan, notably by ensuring adequate funding, enhancing interinstitutional coordination and aligning national policies with the EU acquis;

    35. Urges the authorities to ensure the full and effective implementation of the existing legal framework for the protection of victims of gender-based and domestic violence, by allocating sufficient budgetary resources for prevention, and by improving access to support services, protection mechanisms and the enforcement of legally guaranteed social and economic rights of survivors; notes, against this background, the adoption in 2023 of the Law on Payment of Monetary Compensation to Victims of Violent Crimes, which integrates the standards of the Istanbul Convention to provide better protection for victims of gender-based violence; urges the authorities, furthermore, to strengthen their efforts to reduce and mitigate gender-based violence and domestic violence, and to increase shelter capacity and personnel, as well as the number of well-trained and gender-sensitive law enforcement officers, judges, medical personnel and social workers;

    36. Notes, with concern, the dire situation of young women in prison, including juvenile girls aged between 14 and 16, who lack education and job skills training and are often overmedicated, with insufficient healthcare; urges the authorities of North Macedonia to take urgent measures to improve the detention conditions for all inmates, to reduce corruption and stop inhuman treatment, and to enhance the probation and reintegration of ex-prisoners into society;

    37. Urges North Macedonia to fully implement the recommendations outlined in the 2023 ECRI report on North Macedonia in order to effectively address the human rights violations identified;

    38. Welcomes the fact that interethnic relations remain stable and the Ohrid Framework Agreement continues to be implemented; commends North Macedonia’s efforts in strengthening minority rights protections, while encouraging further financial support; calls for adequate funding and staffing for institutions protecting the rights of non-majority communities; calls on political representatives of minority communities to avoid promoting divisive ethnic narratives echoing policies that caused profound suffering and wars in the region’s recent past; urges North Macedonia to fully implement the recommendations of the Advisory Committee on the Framework Convention for the Protection of National Minorities as regards the ‘One society for all and interculturalism’ strategy; calls on North Macedonia to provide sufficient funding and staff for the Language Implementation Agency and the Agency for Community Rights Realization; regrets that North Macedonia did not ratify the European Charter for Regional or Minority Languages; awaits a final decision on the contested Law on the Use of Languages, which may have an impact on interethnic relations;

    39. Welcomes the progress the country has achieved in aligning its legislative and institutional framework for the rights of the child with the EU acquis and international human rights standards; notes the progress in implementing the strategy for deinstitutionalisation and welcomes the successful relocation of children from institutions to foster care or small group homes; notes with concern, however, the continued instances of child violence and discrimination, including against Roma children; calls, therefore, for the country to set up a national body responsible for coordinating all policies relating to the implementation of the UN Convention on the Rights of the Child and the optional protocols thereto;

    40. Encourages North Macedonia to take meaningful steps toward recognising and incorporating national minorities and communities into its constitution, fostering inclusivity, protecting diversity, fighting discrimination and strengthening social cohesion in line with European values and democratic principles; calls on North Macedonia to fully guarantee equal rights and opportunities for all ethnic communities in the country;

    41. Notes that persons with disabilities continue to face significant barriers as the country’s legislation is still not aligned with the UN Convention on the Rights of Persons with Disabilities; welcomes the national strategy for the rights of persons with disabilities for 2023-2030 and calls strongly for its proper implementation, including in regard to ensuring a sufficient number of educational assistants, in order to effectively and smoothly include children with disabilities in the education process;

    42. Welcomes the first court ruling on hate speech against the LGBTIQ+ community, but calls strongly for the systematic prosecution of all instances of hate speech, hate crimes and intimidation, as well as for the inclusion of hate speech in the Criminal Code and for the state institutions responsible to keep adequate statistics on cases of hate speech and hate crimes;

    43. Notes with concern the widespread hate speech on social media, particularly towards Roma, LGBTIQ+ persons and other marginalised groups; urges all political actors to amend the Law on Civil Registry and ensure swift and unimpeded legal gender recognition on the basis of self-determination, to uphold human rights, ensure dignity, and establish a clear and accessible legal process in line with international standards; recommends that the new Law on Primary Education maintain explicit protection against discrimination based on gender, sexual orientation and gender identity, ensuring alignment with national and international commitments; encourages the Assembly of North Macedonia to promptly (re-)establish an active interparliamentary LGBTIQ+ group to support and advance LGBTIQ+ rights;

    44. Calls on North Macedonia to strengthen migration management, improve alignment with the EU acquis and address persistent challenges in handling regular and irregular migration while upholding fundamental human rights; welcomes enhanced cooperation on border management and the strengthening of the country’s capacity to manage migration flows and combat migrant smuggling, human trafficking and other organised crime; encourages the continued development of asylum procedures and integration policies and the improvement of reception conditions, in alignment with EU migration frameworks; stresses the importance of regional cooperation in migration management and urges the EU to provide further support in terms of resources, technical assistance and capacity-building in order to address migration challenges effectively;

    45. Calls on North Macedonia to step up its efforts in the fight against human trafficking, notably by further aligning the Criminal Code with the EU acquis and its legislation on drugs;

    Rule of law

    46. Notes, with serious concern, that the country’s track record in fighting corruption, including high-level corruption, has worsened, as also evidenced by its decline in Transparency International’s Corruption Perceptions Index, particularly owing to Criminal Code amendments that have weakened the legal framework, resulting in the termination of many ongoing cases; reiterates that this decline underscores the urgent need for comprehensive reforms; calls strongly for the anti-corruption framework to be strengthened and for effective accountability to be ensured, in particular in high-level corruption cases, through proper investigation, prosecution and convictions; urges a review of recent amendments to the Criminal Code in relation to sentencing standards and the statute of limitations, in order to ensure that the prosecution of corruption, especially of complex and high-level cases, is not negatively affected;

    47. Recalls that sufficient financial and human resources are needed to ensure effective and consistent application of dissuasion, prevention, detection, investigation and sanction mechanisms for public office holders through broad measures covering conflicts of interest, lobbying, codes of ethics and whistle-blower protection;

    48. Notes that the perceived level of trust in the judiciary remains very low and that further efforts are needed to prevent undue influence and intimidation; underlines the lack of progress in the implementation of the 2020 strategies for human resources management in the courts and in the public prosecutor’s office; calls strongly for the critical shortage of judges and prosecutors, which impacts the quality and efficiency of justice, to be addressed; calls for the independence and transparency of judicial bodies to be strengthened and for the funds necessary for their effective functioning to be allocated;

    49. Calls for the strengthening of the Judicial Council and the Council of Prosecutors and for the allocation of necessary funds, while ensuring their independence; strongly urges political actors to cease interfering in judicial institutions;

    50. Notes, with concern, the lack of progress in preventing and fighting corruption, and that financial investigations remain problematic; underlines how corruption continues to severely affect crucial policy areas; calls for the operational capacity and cooperation of agencies responsible for fighting organised crime and financial crime to be significantly strengthened, including through ensuring the necessary financial resources; encourages the country to improve its fight against organised and economic crime and cybercrime through a strengthened partnership with Europol, the European Cybercrime Centre and Eurojust; calls on North Macedonia to enhance its efforts to combat money laundering;

    51. Calls for all necessary measures to be put in place to effectively counter organised crime; urges the authorities to improve coordination through the National Coordination Centre for the Fight Against Organised Crime as well as to allocate the necessary funds and staffing to the Office of the Basic Public Prosecutor for Organised Crime and Corruption; underlines the need to direct particular attention and resources towards uncovering money-laundering schemes;

    52. Notes, with concern, North Macedonia’s partial alignment with the EU acquis in the fight against organised crime; reiterates its call for further alignment with the EU acquis and for systematic financial investigations, stepping up the freezing, confiscation, management and disposal of illegally acquired assets;

    53. Calls for a thorough and transparent investigation of the Kočani nightclub fire on 16 March 2025, to bring to justice the persons responsible, and also for the legislation to be updated and thoroughly implemented to prevent similar tragedies and ensure better public safety and regulatory compliance to protect citizens;

    54. Calls for the swift implementation of the ongoing reforms in the security and intelligence sectors, and for the independence of security and intelligence bodies to be strengthened through the establishment of appropriate regulatory frameworks, while also enhancing democratic oversight mechanisms; notes, with concern, that the National Security Agency is still located on the premises of the Ministry of Internal Affairs, calling into question its status as an independent state administration body;

    55. Commends North Macedonia’s strong determination to counter hybrid threats; welcomes the government’s initiative to create a national strategic framework to counter disinformation as well as the adoption of the national cybersecurity strategy 2025-2028; calls for further efforts to build resilience against foreign interference and information manipulation; underlines the need to work on a national strategy to build resilience against disinformation as a security threat to the state, including through enhanced cybersecurity measures and strategic communication as well as education and media literacy; calls for the full operationalisation of EU mechanisms, such as the rapid alert system, to detect malign foreign influence in real time during key democratic processes, including elections;

    56. Is deeply concerned that North Macedonia and other EU accession countries in the Western Balkans are being particularly hard hit by foreign interference and disinformation campaigns, including hybrid threats, strategic corruption, opaque financial flows and coercive investment practices, notably originating in Russia and China; is alarmed by Hungary’s and Serbia’s roles in advancing China’s and Russia’s geopolitical objectives; notes, in this context, the risk of dependence on China caused by asymmetrical loan agreements, as well as the recent loan from Hungary, which  appears to be sourced from China;

    Socio-economic reforms

    57. Recommends that North Macedonia continue to pursue steps to improve the business climate and infrastructure, strengthen education and digital infrastructure, and enhance social protection systems and their connection to employment initiatives; welcomes the inclusion of human capital-related reforms in the Growth Plan Reform Agenda and calls on North Macedonia to dedicate sufficient effort to implementing these reforms to achieve sustainable results in the development of human capital for children and young people, as the foundation of resilient societies and sustainable growth;

    58. Welcomes the adoption of the Reform Agenda and the multiannual work programme under the Reform and Growth Facility for North Macedonia, which will provide support for small and medium-sized enterprises, cut red tape and digitalise the public system, and welcomes the steps provided for in the Reform Agenda regarding the digital infrastructure roll-out and the new Law on Electronic Communications, aligning the national legislation with the relevant EU acquis and keeping up with the digital transition worldwide;

    59. Encourages labour market activation strategies for young people, the long-term unemployed, and low-skilled individuals, as well as for women, persons with disabilities and Roma, and calls for these measures to be properly evaluated; takes note of the long-term improvement in unemployment rates, notes, however, that this must be accompanied by a rise in real wages, the improvement of working conditions and the protection of workers’ rights, including trade union rights; calls for the full implementation of the Law on the Peaceful Settlement of Labour Disputes;

    60. Encourages North Macedonia to advance its digital transformation, particularly by improving the digital skills of all citizens and by providing online access to public services; recognises the demographic challenges faced by North Macedonia, including population decline, the emigration of young professionals, and an ageing workforce, and underlines the need to address the brain drain, especially in the medical, technological and educational fields; calls for the implementation of targeted policies to reverse the brain drain, enhance family-friendly social policies and attract return migration; encourages cooperation with the EU on demographic resilience strategies, including labour market incentives, housing support for young families, and investment in education and skills development to align with future job market needs; calls for increased support for innovation and competitiveness;

    61. Welcomes the positive effects of the Youth Guarantee on the reduction of youth unemployment; calls on North Macedonia to intensify its efforts to reduce the unemployment rate of young people aged between 15 and 24, which remains high at 29.3 %; underlines the need to address social challenges, ensure quality employment policies, foster upward social cohesion and convergence towards EU standards and support progress on the principles of the European Pillar of Social Rights;

    62. Welcomes the efforts to amend the labour law; urges full alignment of the Law on Working Relations with EU directives to effectively guarantee the right to equal pay for equal work, ensure pay transparency and enhance protection against discrimination based on pregnancy and maternity; insists on the need to strengthen the competencies and capacities of the State Labour Inspectorate to ensure effective protection of workers’ rights, including safeguards against labour discrimination;

    63. Commends North Macedonia for joining the single euro payments area (SEPA), recognising this as an important step toward deeper financial integration with the European market and the facilitation of faster, more efficient cross-border transactions; urges North Macedonia to introduce structural reforms to strengthen the economy and secure the country’s debt sustainability;

    64. Welcomes the calls for the prompt integration of all of the Western Balkans into the EU’s digital single market at the earliest opportunity, which would crucially benefit the creation of a digitally safe environment;

    65. Urges the authorities to fully implement existing legal provisions to ensure access to primary healthcare services, with a particular focus on sexual and reproductive health for women, mothers and children, and eliminate barriers related to geography, finances or other hardships; calls for targeted measures to support vulnerable groups of women in accessing healthcare, including Roma women, rural women and those living in poverty;

    66. Welcomes the progress made in the implementation of the Strategy for Inclusion of Roma 2022-2030; regrets, however, that the strategy lacks a clear approach to participation, empowerment and capacity building; calls on the authorities to implement the respective action plans, ensuring proper monitoring and meaningful and transparent participation of civil society organisations, notably from the Roma community;

    Environment, biodiversity, energy and transport

    67. Welcomes the adoption of the Energy Law in 2025 and underscores its importance for guaranteeing a safe, secure and high-quality supply of energy as well as for creating an efficient, competitive and financially sustainable energy sector; encourages the authorities to continue on this ambitious path and recalls that additional efforts are needed to fully meet the targets for energy efficiency, renewable energy, security of supply and emissions reductions; urges the country’s authorities to align their environment and climate change legislation with the EU acquis and to ensure its enforcement; notes, with concern, the lack of progress on climate action and the pending adoption of key legislation; stresses the need to integrate gender equality and social inclusion into climate action planning so that women, low-income households and marginalised communities are actively consulted and benefit equitably from the transition;

    68. Welcomes the European Investment Bank’s continued financial and technical support in North Macedonia, including strategic infrastructure projects such as the Rail Corridor VIII, the Skopje wastewater treatment plant, and municipal water infrastructure development; calls for an inclusive and just transition which protects the socially vulnerable, by mobilising public and private financing for the green transition, fully operationalising dedicated funding mechanisms and leveraging EU and international support; stresses the need to address the problems of a lack of specialised staff and weak institutional and administrative capacity, which undermine quality control and the adequate performance of environmental impact assessments;

    69. Notes, with concern, that air and water quality and wastewater management remain particularly challenging issues for the country; urges the central government and local authorities to step up their efforts in order to improve air quality and reduce potentially lethal pollution; recalls that the situation is particularly alarming in Skopje, which has consistently been one of the most polluted cities in Europe;

    70. Recognises North Macedonia’s great potential as a regional hub with regard to the use of renewable energy sources; urges North Macedonia to fully align its environmental impact assessment with the EU acquis, with a particular focus on secondary legislation concerning small hydropower projects;

    71. Stresses the urgent need to prioritise environmental protection; strongly urges the authorities to adopt the necessary legislation and to step up measures on biodiversity, water, air and climate action, and regional waste management, including through comprehensive impact assessments, rigorous prosecution of environmental crime and proper public consultation that allows for the meaningful and transparent involvement of local communities, NGOs and scientific institutions;

    72. Calls on North Macedonia to establish legal protections for Emerald Sites designated under the Convention on the Conservation of European Wildlife and Natural Habitats (the Bern Convention) to safeguard them from environmentally harmful projects; encourages the country to expand its protected areas, with a view to fulfilling the Kunming-Montreal Global Biodiversity Framework targets; reiterates the urgent need to adopt the law on the re-proclamation of Mavrovo National Park to ensure the continuation and completion of its essential conservation efforts; encourages North Macedonia to include Jablanica on its list of protected areas, thus ensuring the conservation of habitats that are critical to the survival of species;

    73. Encourages the authorities of North Macedonia to implement stricter protection and management strategies for the habitats of endangered species, as well as for the species themselves, particularly the Balkan lynx, including rigorous enforcement of laws against wildlife crimes, specifically illegal killing and poaching, to safeguard biodiversity;

    74. Welcomes North Macedonia’s continued cooperation with Kosovo and Albania regarding the transboundary Sharr Mountains National Park; encourages North Macedonia to intensify and speed up collaborative efforts with its neighbouring countries to designate transboundary protected areas and establish coherent transboundary management plans;

    75. Stresses the need to tackle financial challenges faced by national parks to improve various aspects, including human resources and overall management, with the aim of strengthening their role in biodiversity conservation, providing recreational opportunities and supporting local economies;

    76. Welcomes the progress made in the construction of the Corridor VIII of the Trans-European Transport Network (TEN-T) and commends the completion of the Kriva Palanka–Dlabochica–Stracin expressway; urges, however, the authorities of North Macedonia to step up their efforts to prioritise sustainable transport and upgrade energy infrastructure work towards integration in European networks and regional connectivity as well as to address persistent delays in the development of critical infrastructure, including through bilateral negotiations; calls on the Commission to assist in these efforts where needed;

    77. Calls for additional efforts to accelerate progress on all priority sections of the core network for both rail and road, including by increasing the number of border crossings wherever possible; notes the strategic importance of Corridor VIII for the EU’s and NATO’s geostrategic autonomy, serving as a key logistics route along NATO’s southern flank;

    Regional cooperation and foreign policy

    78. Welcomes North Macedonia’s valuable and significant contributions to regional cooperation and stability via its engagement in regional economic and diplomatic initiatives such as the Berlin Process, the Growth Plan for the Western Balkans, and the implementation of common regional market agreements, underlining the importance of their inclusiveness;

    79. Welcomes the country’s commitment to nurturing good neighbourly relations and acknowledges its role as a model for the peaceful resolution of bilateral disputes through dialogue and mutual understanding; emphasises, in this regard, the importance of full implementation of international agreements with tangible results in good faith by all sides, including the Prespa Agreement with Greece and the Treaty of friendship, good neighbourliness and cooperation with Bulgaria; calls for consistent commitment to dialogue and cooperation with neighbouring countries to strengthen regional stability and foster mutual trust; calls for the further promotion of people-to-people contacts across south-eastern Europe;

    80. Expresses concern about the so-called ‘Serbian world’ project and that some representatives of the Government of North Macedonia have been advocating and promoting this concept; condemns the participation in meetings that attempt to establish a sphere of influence undermining the sovereignty of other countries and the stability of the region;

    81. Recalls the need to open up Yugoslav secret service archives (UDBA and KOS), kept in both North Macedonia and Serbia; emphasises the need to open these archives region-wide to deal with the totalitarian past in a transparent way, with a view to strengthening democracy, accountability and institutions in the Western Balkans;

    82. Welcomes North Macedonia’s continued commitment to Euro-Atlantic security; commends North Macedonia’s active role in the OSCE, in particular its chairmanship of the OSCE in 2023 in a complex geopolitical environment, and substantial contributions to EU crisis management missions and military operations; commends the country’s alignment with the EU’s foreign, security and defence policy, including its clear-cut response to  Russia’s war of aggression in Ukraine by aligning with the EU’s restrictive measures against Russia and Belarus and providing support to Ukraine; welcomes the signing of a security and defence partnership with the EU in 2024;

    83. Regrets, however, that North Macedonia, was the only country in the Western Balkans to abstain on the European resolution on Ukraine in the UN General Assembly in February 2025 and instead co-sponsored the US resolution, alongside countries such as Georgia and Hungary, representing a negative signal regarding North Macedonia’s alignment with the EU’s common foreign and security policy and with the collective European commitment to upholding peace, international law and democratic principles;

    84. Acknowledges North Macedonia’s NATO membership as a significant geostrategic contribution to regional security and Euro-Atlantic stability, including through the country’s active participation in NATO missions and operations and its strategic role in fostering peace and cooperation in the Western Balkans, as well as through the ongoing modernisation of its armed forces and reforms in the fields of crisis management, critical infrastructure and cyber defence; highlights the fact that NATO membership strengthens North Macedonia’s defence capabilities, enhances security coordination with EU and NATO allies, and serves as a deterrent against external destabilisation efforts; encourages North Macedonia to deepen cooperation with the EU and NATO on countering hybrid threats, including through cybersecurity coordination, joint disinformation tracking and resilience-building, and to pursue its efforts to deter external destabilisation attempts; encourages North Macedonia to continue its investment in defence modernisation and alignment with NATO strategic priorities in order to further solidify its role as a reliable security partner;

    85. Welcomes the agreement concluded at the EU-Western Balkans summit in Tirana on reduced roaming costs; calls, in this respect, on the authorities, private actors and all stakeholders to facilitate achieving the agreed targets of a substantial reduction of data roaming charges between the Western Balkans and the EU and further reductions leading to prices close to the domestic prices by 2027; welcomes the entering into force of the first phase of implementation of the roadmap for roaming between the Western Balkans and the EU;

    86. Instructs its President to forward this resolution to the President of the European Council, the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the governments and parliaments of the Member States, and the President, Government and Assembly of the Republic of North Macedonia.

    MIL OSI Europe News

  • MIL-OSI Africa: World Bank Approves Health Resilience Project to Protect Lives and Strengthen Emergency Response in Mozambique


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    The World Bank has approved the Mozambique Health Emergency Preparedness, Response and Resilience Project, an initiative to strengthen the health system’s ability to deliver essential services consistently and equitably. The project targets underserved and climate-vulnerable areas by investing in human resources, infrastructure, and systems that ensure continuity of care during emergencies. This project is part of a regional program to strengthen health security across Eastern and Southern Africa.  

    Mozambique faces frequent floods, cyclones, disease outbreaks, and other emergencies that disrupt health services and put lives at risk. Many communities lack sufficient and trained health workers, access to essential medicines, and the tools to detect and respond quickly to crises. The project seeks to address these gaps by:

    • Strengthening the health workforce capacity, particularly in high-risk areas, by improving recruitment, training, and retention systems;
    • Improving pharmaceutical supply chains by supporting the regulatory agency in bringing more transparency and speed to procurement processes, lowering and standardizing prices of health commodities to ensure access to medicines, particularly during crises; and
    • Enhancing disease surveillance and laboratory capacity to improve early warning and response systems to quickly detect and respond to health emergencies like cholera outbreaks or heatwaves.

    The project also supports the development of climate-adaptive infrastructure and emergency preparedness plans, recognizing the growing health risks posed by climate change.

    Mozambique is already experiencing the health impacts of shocks and emergencies,” noted Luc Lecuit, World Bank Acting Division Director in Mozambique. “The program supports the government’s efforts to strengthen core health service delivery by investing in preparedness and resilience, ensuring services remain operational during floods, storms, and epidemics.”

    Financed through a $201 million grant from the International Development Association (IDA)*, the initiative will be implemented over five years, concluding in September 2030.

    “By prioritizing practical investments in the foundational pillars of the health sector, the Government of Mozambique is driving greater efficiency across the system and strengthening its emergency response capacity to protect lives,” said João Pires, World Bank Senior Health Specialist and Task Team Leader. “These efforts are paving the way for bold reforms to ensure the health system remains resilient and responsive, even under pressure.”

    In parallel, the World Bank, together with other development partners, is increasing its support to the Mozambique health sector through a $63.7 million top-up to the ongoing District and Community Health Services Revitalization Project. This additional financing—comprising $8.7 million from IDA, $5 million from the Global Financing Facility, and $50 million from a multi-donor trust fund supported by Canada, the United Kingdom, and Ireland—will expand the project’s impact across the most vulnerable 63 districts of Mozambique. The operation focuses on improving access to quality primary health care, particularly for women, children, and adolescents, and strengthening service delivery at the district and community levels.

    Both projects align with the forthcoming Mozambique’s Health Sector Strategic Plan (PESS, 2025-2034)  (PESS 2020–2024) and the National Adaptation Plan (2023), and complement regional efforts to strengthen health security across Eastern and Southern Africa.

    Distributed by APO Group on behalf of The World Bank Group.

    MIL OSI Africa

  • MIL-OSI China: Announcement on Open Market Operations No.122 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.122 [2025]

    (Open Market Operations Office, June 27, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB525.9 billion through quantity bidding at a fixed interest rate on June 27, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB525.9 billion

    RMB525.9 billion

    Date of last update Nov. 29 2018

    2025年06月27日

    MIL OSI China News

  • MIL-OSI Europe: 2024-03-27 at 16h49 The four crises and seven structural shifts of the last eight years Prime Minister António Costa took stock of the last years in government

    Source: Government of Portugal (PM)

    António Costa took stock of the government’s action in the last eight years, where he was Prime Minister, during a press conference held in the official residence.<.>

    António Costa also referred to the financial system’s greater stability. “The state-owned bank, which many felt should be privatised and that it would be impossible to capitalise, is today not only solvent, but also generated due revenue for the Portuguese economy and citizens”, the Prime Minister claimed. 

    The wildland fires crisis 

    The second crisis noted by the Prime Minister was that of wildland fires, the answer to which included restructuring the civil protection system and a budget reform, which offered prevention a clear priority over fighting. As a result, “if we were to add up the entire area burnt down in the six years between 2018 and 2023 [the result] is 60.7% of the area burnt down in 2017 alone”, he stressed.

    The Covid-19 pandemic 

    The country’s response to this third crisis was “worthy of note”, claimed the Prime Minister. “We were the first country in the world to reach a vaccination coverage of 85%. And the efforts to support the economy and households allowed us to be one of the countries that best came out of the pandemic”, he added. 

    The inflationist crisis

    The fourth crisis arose from the effects of the pandemic, which was still felt, and the war between Russia and Ukraine. This conflict “worsened a situation that came from the pandemic, with the breakdown in supply chains, which led us to the greatest inflationist crisis of the last 30 years”. 

    The rises in interest rates by the European Central Bank to respond to rising inflation “in a society such as hours where mortgages have a high significance and the variable rates are clearly dominant”, together with rising food costs, shot up household costs. 

    “From the start of 2022 to October 2022, inflation soared. We hit 10.1% inflation in October 2022 and since then we have been on a slow, yet sure, trajectory to lower inflation, until we hit 2.1% last February and the forecast is we will remain on that lowering trajectory”, said the Prime Minister.

    SEVEN STRUCTURAL SHITS

    Higher growth

    The Prime Minister stated that between 2000 and 2015 the country alternated between recession and stagnation. “Only in one year of these 15 did we grow above the European average: in 2009. From 2016 onwards, the reality has been quite different “, he said. “In these eight years, the country grew ten times more than what it had grown in the previous 15”, he signalled, noting the 2.1% growth, including in the two pandemic years, “where product naturally fell drastically”. 

    More jobs and more income

    The creation of jobs and improvement in employment conditions contributed to this economic growth. “Today, we have a record number of people working in Portugal: 5 million people. That is an additional 629 thousand jobs than in 2015. And in a context where it was possible to not just to have minimum wages grow 62%, but also average wages having grown 27.7%”, the Prime Minister indicated.

    In addition to the rise in the minimum wage, the Prime Minister also noted rising pensions and improvement in net income. 

    Always in line with the Social Security Basis Law, in these eight years, average pensions rose 23.3%, “with all the rises set down in the law, as well as extraordinary rises to counter inflation”. 

    The improvement in net income came from the “successive drops in income tax IRS” and the “successive measures of non-monetary transfers that cut household expenses”, such as making school books free, reforming the costs of public transports, increasing the number of households that benefit from energy social rates and the “significant” cut in pubic university fees, that went from more than one thousand euros to 697 euros per annum.

    A more qualified country

    This was the shift the Prime Minister considered “perhaps brings the greatest consequences for the future”. António Costa mentioned the “highly significant” drop in early dropouts, where this year we are below the EU average for 2030, and the rise in the number of youths aged 30 to 34 years who completed higher educaiton in 2015, which can only rise, since “if we look at the youths who are 20 years old, 39% attended university in 2015, and today it’s 54%”. 

    A more competitive economy

    “Every year, we beat records in attracting foreign direct investment. Every year, we beat corporate investment records and corporate investment went up 85% between 2015 and 2023”, the Prime Minister stated, advocating that “what offers a modern economy competitiveness is its capacity to have qualified jobs, being more innovative, and this is what enables that innovation”. 

    António Costa also added that the rise in exports, which in 2022 accounted for more than 50% of GDP, and the change in the nature of exports. “Exports of high and medium tech goods increased 71% over these last eight years, which means that complexifying, qualifying, and the added value of our economy have been clearly on the rise”.

    Less inequality

    “Today we have 600 thousand people less in poverty or social exclusion, and especially 226 thousand children less living in poverty or social exclusion”, said the Prime Minister.

    Taking the lead in fighting climate change

    The sixth shift had to do with the country’s position in taking the lead in fighting climate change. “We were the first country in the world, at the2016 Marrakesh COP to undertake the goal of being carbon neutral by 2050. Our Climate Law imposed on us a greater ambition of hitting that target in 2045 rather than 2050”. 

    Since 2017, Portugal has cut back its GHG emissions by 17% “due to the public transport policy and bringing targets such as closing down coal-fuelled power stations forward and increasing the capacity to generate energy using renewables”, the Prime Minister signalled.

    Advances in the State reform 

    The last structural shift mentioned by the Prime Minister had to do with the advances in the State reform, namely concerning the decentralisation of powers, such as transferring the PSP’s traffic tasks to the Lisbon and Porto municipal police, making Carri or STCP (public transport) municipal, or the agreement with the National Portuguese Municipalities Association (ANMP) to transfer powers. Lastly, António Costa referred to the reform of the Regional Development Coordination Committees (CCDR), that are now more democratised and with greater autonomy. 

    View the Prime Minister’s presentation here 

    MIL OSI Europe News

  • MIL-OSI Europe: 2024-03-27 at 16h49 The four crises and seven structural shifts of the last eight years Prime Minister António Costa took stock of the last years in government

    Source: Government of Portugal (PM)

    António Costa took stock of the government’s action in the last eight years, where he was Prime Minister, during a press conference held in the official residence.<.>

    António Costa also referred to the financial system’s greater stability. “The state-owned bank, which many felt should be privatised and that it would be impossible to capitalise, is today not only solvent, but also generated due revenue for the Portuguese economy and citizens”, the Prime Minister claimed. 

    The wildland fires crisis 

    The second crisis noted by the Prime Minister was that of wildland fires, the answer to which included restructuring the civil protection system and a budget reform, which offered prevention a clear priority over fighting. As a result, “if we were to add up the entire area burnt down in the six years between 2018 and 2023 [the result] is 60.7% of the area burnt down in 2017 alone”, he stressed.

    The Covid-19 pandemic 

    The country’s response to this third crisis was “worthy of note”, claimed the Prime Minister. “We were the first country in the world to reach a vaccination coverage of 85%. And the efforts to support the economy and households allowed us to be one of the countries that best came out of the pandemic”, he added. 

    The inflationist crisis

    The fourth crisis arose from the effects of the pandemic, which was still felt, and the war between Russia and Ukraine. This conflict “worsened a situation that came from the pandemic, with the breakdown in supply chains, which led us to the greatest inflationist crisis of the last 30 years”. 

    The rises in interest rates by the European Central Bank to respond to rising inflation “in a society such as hours where mortgages have a high significance and the variable rates are clearly dominant”, together with rising food costs, shot up household costs. 

    “From the start of 2022 to October 2022, inflation soared. We hit 10.1% inflation in October 2022 and since then we have been on a slow, yet sure, trajectory to lower inflation, until we hit 2.1% last February and the forecast is we will remain on that lowering trajectory”, said the Prime Minister.

    SEVEN STRUCTURAL SHITS

    Higher growth

    The Prime Minister stated that between 2000 and 2015 the country alternated between recession and stagnation. “Only in one year of these 15 did we grow above the European average: in 2009. From 2016 onwards, the reality has been quite different “, he said. “In these eight years, the country grew ten times more than what it had grown in the previous 15”, he signalled, noting the 2.1% growth, including in the two pandemic years, “where product naturally fell drastically”. 

    More jobs and more income

    The creation of jobs and improvement in employment conditions contributed to this economic growth. “Today, we have a record number of people working in Portugal: 5 million people. That is an additional 629 thousand jobs than in 2015. And in a context where it was possible to not just to have minimum wages grow 62%, but also average wages having grown 27.7%”, the Prime Minister indicated.

    In addition to the rise in the minimum wage, the Prime Minister also noted rising pensions and improvement in net income. 

    Always in line with the Social Security Basis Law, in these eight years, average pensions rose 23.3%, “with all the rises set down in the law, as well as extraordinary rises to counter inflation”. 

    The improvement in net income came from the “successive drops in income tax IRS” and the “successive measures of non-monetary transfers that cut household expenses”, such as making school books free, reforming the costs of public transports, increasing the number of households that benefit from energy social rates and the “significant” cut in pubic university fees, that went from more than one thousand euros to 697 euros per annum.

    A more qualified country

    This was the shift the Prime Minister considered “perhaps brings the greatest consequences for the future”. António Costa mentioned the “highly significant” drop in early dropouts, where this year we are below the EU average for 2030, and the rise in the number of youths aged 30 to 34 years who completed higher educaiton in 2015, which can only rise, since “if we look at the youths who are 20 years old, 39% attended university in 2015, and today it’s 54%”. 

    A more competitive economy

    “Every year, we beat records in attracting foreign direct investment. Every year, we beat corporate investment records and corporate investment went up 85% between 2015 and 2023”, the Prime Minister stated, advocating that “what offers a modern economy competitiveness is its capacity to have qualified jobs, being more innovative, and this is what enables that innovation”. 

    António Costa also added that the rise in exports, which in 2022 accounted for more than 50% of GDP, and the change in the nature of exports. “Exports of high and medium tech goods increased 71% over these last eight years, which means that complexifying, qualifying, and the added value of our economy have been clearly on the rise”.

    Less inequality

    “Today we have 600 thousand people less in poverty or social exclusion, and especially 226 thousand children less living in poverty or social exclusion”, said the Prime Minister.

    Taking the lead in fighting climate change

    The sixth shift had to do with the country’s position in taking the lead in fighting climate change. “We were the first country in the world, at the2016 Marrakesh COP to undertake the goal of being carbon neutral by 2050. Our Climate Law imposed on us a greater ambition of hitting that target in 2045 rather than 2050”. 

    Since 2017, Portugal has cut back its GHG emissions by 17% “due to the public transport policy and bringing targets such as closing down coal-fuelled power stations forward and increasing the capacity to generate energy using renewables”, the Prime Minister signalled.

    Advances in the State reform 

    The last structural shift mentioned by the Prime Minister had to do with the advances in the State reform, namely concerning the decentralisation of powers, such as transferring the PSP’s traffic tasks to the Lisbon and Porto municipal police, making Carri or STCP (public transport) municipal, or the agreement with the National Portuguese Municipalities Association (ANMP) to transfer powers. Lastly, António Costa referred to the reform of the Regional Development Coordination Committees (CCDR), that are now more democratised and with greater autonomy. 

    View the Prime Minister’s presentation here 

    MIL OSI Europe News

  • MIL-OSI Africa: Africa’s development banks are being undermined: the continent will pay the price

    Source: The Conversation – Africa – By Danny Bradlow, Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria

    Ghana and Zambia’s official creditors are pressing them to default on loans to two African multilateral financial institutions: the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB).

    These creditors, in effect, are demanding that the two countries prioritise repayments to themselves over payments to these two banks.

    As academics who have worked on the challenges of financing sustainable development in Africa, we believe this action is short-sighted.

    The action by Ghana and Zambia’s official creditors has two significant implications.

    First, they are demanding that the two countries treat Afreximbank and the Trade and Development Bank as commercial creditors. This would undermine the banks’ credit ratings and increase their borrowing costs. It would also reduce their capacity to finance sustainable development in Africa.

    Second, pressing Ghana and Zambia to default, rather than supporting pragmatic restructuring aligned with their strong growth prospects, exacerbates Ghana and Zambia’s financial vulnerability. Either they would have to use scarce resources to pay these debts or default on their obligations, in which case, the banks might well sue them.

    Quotes from Ghana and Zambia’s ministries of finance suggest the decision to default is their own. However, they faced intense pressure from their official creditors to treat the two African multilateral financial institutions differently from all their other multilateral creditors.

    Why does this differential treatment matter?

    Preferred creditor status

    Multilateral financial institutions, including the World Bank and African Development Bank, have a preferred creditor status. This is in recognition of the special role they play. They are expected to provide relatively low-cost funding for public investment, economic stability and long-term sustainable development in low- and middle-income countries.

    Their preferred creditor status ensures that, when countries experience debt distress, their development mandate is prioritised over the concerns of commercial creditors. Commercial creditors normally only fund commercially viable transactions. They charge high interest rates to compensate for the risk of default on these transactions.

    Both Afreximbank and Trade and Development Bank were created to fill a gap in Africa’s access to critical development finance. They provide financing for projects and transactions that commercial institutions and other multilateral financial institutions cannot – or will not – provide, because of capital limits, regulations or perceptions of risk.

    For example, Afreximbank’s charter notes that

    the decline in African exports has impacted adversely on the economies of African states and hindered their ability to achieve a self-reliant development.

    It further recognises that stimulating economic development

    can best be achieved through the creation of a trade financing international institution whose principal purpose is to provide and mobilise the requisite financial resources.

    Historically, it has enjoyed preferred creditor status to support its role in meeting this purpose.

    Why preferred creditor status is being challenged

    The two countries’ official creditor committees, the rating agency Fitch and other commentators are challenging the preferred creditor status of the two African institutions. They argue that the two banks are different from multilateral financial institutions like the World Bank and the African Development Bank that only have states as shareholders. They suggest that the private shareholders in the two African banks should not benefit from preferred creditor status. Instead, they should receive the same status as commercial creditors.


    Read more: Ghana and Zambia have snubbed Africa’s leading development bank: why they should change course


    This view ignores the reason that Afreximbank’s and the Trade and Development Bank’s member states authorised them to have private shareholders. It was a deliberate, pragmatic measure designed to fill a gap in Africa’s access to affordable development finance.

    The idea was to create new multilateral institutions that could raise capital flexibly and quickly on terms that the individual African states could not match on their own. Several other regional development banks have this hybrid model, including CAF, a highly rated development bank in Latin America.

    It is perverse that this creative and pragmatic approach to filling a gap in the global financial system is now being used against the two African banks.

    The consequences

    The cost of capital for the two African financial institutions will increase if they are treated like commercial creditors. This will reduce their capacity to lend and their financing will become more expensive. It will also deepen inequality in the global financial system. Lastly, it will increase the risk of future African sovereign debt defaults.

    In other words, downgrading their status risks undermining the very stability that official creditors claim to safeguard. It will also create another obstacle to Africa’s efforts to access stable, predictable and affordable flows of development finance.

    The eventual outcome of the official creditors’ action will ultimately depend on negotiations between Ghana and Zambia and their creditors. This will include the two African institutions. It will also be influenced by how these different groups of creditors behave in other African sovereign debt restructurings.

    However, the international community can seek to influence the outcome by taking actions in appropriate international settings.

    Global leaders are searching for ways to scale up and strengthen the capacity of regional and subregional development banks like Afreximbank and the Trade and Development Bank. This requires respecting their preferred creditor status and increasing their access to affordable capital.

    This is precisely the opposite of what is unfolding.

    There is still time for the creditor governments to change course by demonstrating their support for African multilateral financial institutions.

    – Africa’s development banks are being undermined: the continent will pay the price
    – https://theconversation.com/africas-development-banks-are-being-undermined-the-continent-will-pay-the-price-259404

    MIL OSI Africa

  • MIL-OSI Analysis: Africa’s development banks are being undermined: the continent will pay the price

    Source: The Conversation – Africa – By Danny Bradlow, Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria

    Ghana and Zambia’s official creditors are pressing them to default on loans to two African multilateral financial institutions: the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB).

    These creditors, in effect, are demanding that the two countries prioritise repayments to themselves over payments to these two banks.

    As academics who have worked on the challenges of financing sustainable development in Africa, we believe this action is short-sighted.

    The action by Ghana and Zambia’s official creditors has two significant implications.

    First, they are demanding that the two countries treat Afreximbank and the Trade and Development Bank as commercial creditors. This would undermine the banks’ credit ratings and increase their borrowing costs. It would also reduce their capacity to finance sustainable development in Africa.

    Second, pressing Ghana and Zambia to default, rather than supporting pragmatic restructuring aligned with their strong growth prospects, exacerbates Ghana and Zambia’s financial vulnerability. Either they would have to use scarce resources to pay these debts or default on their obligations, in which case, the banks might well sue them.

    Quotes from Ghana and Zambia’s ministries of finance suggest the decision to default is their own. However, they faced intense pressure from their official creditors to treat the two African multilateral financial institutions differently from all their other multilateral creditors.

    Why does this differential treatment matter?

    Preferred creditor status

    Multilateral financial institutions, including the World Bank and African Development Bank, have a preferred creditor status. This is in recognition of the special role they play. They are expected to provide relatively low-cost funding for public investment, economic stability and long-term sustainable development in low- and middle-income countries.

    Their preferred creditor status ensures that, when countries experience debt distress, their development mandate is prioritised over the concerns of commercial creditors. Commercial creditors normally only fund commercially viable transactions. They charge high interest rates to compensate for the risk of default on these transactions.

    Both Afreximbank and Trade and Development Bank were created to fill a gap in Africa’s access to critical development finance. They provide financing for projects and transactions that commercial institutions and other multilateral financial institutions cannot – or will not – provide, because of capital limits, regulations or perceptions of risk.

    For example, Afreximbank’s charter notes that

    the decline in African exports has impacted adversely on the economies of African states and hindered their ability to achieve a self-reliant development.

    It further recognises that stimulating economic development

    can best be achieved through the creation of a trade financing international institution whose principal purpose is to provide and mobilise the requisite financial resources.

    Historically, it has enjoyed preferred creditor status to support its role in meeting this purpose.

    Why preferred creditor status is being challenged

    The two countries’ official creditor committees, the rating agency Fitch and other commentators are challenging the preferred creditor status of the two African institutions. They argue that the two banks are different from multilateral financial institutions like the World Bank and the African Development Bank that only have states as shareholders. They suggest that the private shareholders in the two African banks should not benefit from preferred creditor status. Instead, they should receive the same status as commercial creditors.




    Read more:
    Ghana and Zambia have snubbed Africa’s leading development bank: why they should change course


    This view ignores the reason that Afreximbank’s and the Trade and Development Bank’s member states authorised them to have private shareholders. It was a deliberate, pragmatic measure designed to fill a gap in Africa’s access to affordable development finance.

    The idea was to create new multilateral institutions that could raise capital flexibly and quickly on terms that the individual African states could not match on their own. Several other regional development banks have this hybrid model, including CAF, a highly rated development bank in Latin America.

    It is perverse that this creative and pragmatic approach to filling a gap in the global financial system is now being used against the two African banks.

    The consequences

    The cost of capital for the two African financial institutions will increase if they are treated like commercial creditors. This will reduce their capacity to lend and their financing will become more expensive. It will also deepen inequality in the global financial system. Lastly, it will increase the risk of future African sovereign debt defaults.

    In other words, downgrading their status risks undermining the very stability that official creditors claim to safeguard. It will also create another obstacle to Africa’s efforts to access stable, predictable and affordable flows of development finance.

    The eventual outcome of the official creditors’ action will ultimately depend on negotiations between Ghana and Zambia and their creditors. This will include the two African institutions. It will also be influenced by how these different groups of creditors behave in other African sovereign debt restructurings.

    However, the international community can seek to influence the outcome by taking actions in appropriate international settings.

    Global leaders are searching for ways to scale up and strengthen the capacity of regional and subregional development banks like Afreximbank and the Trade and Development Bank. This requires respecting their preferred creditor status and increasing their access to affordable capital.

    This is precisely the opposite of what is unfolding.

    There is still time for the creditor governments to change course by demonstrating their support for African multilateral financial institutions.

    Danny Bradlow, in addition to his position at University of Pretoria, is Senior G20 Advisor to the South African Institute of International Affairs and co-chair of the T20 sask force on sustainable financing.

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

    ref. Africa’s development banks are being undermined: the continent will pay the price – https://theconversation.com/africas-development-banks-are-being-undermined-the-continent-will-pay-the-price-259404

    MIL OSI Analysis

  • MIL-OSI Banking: Joint Summary of the Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to the Kingdom of Morocco

    Source: ASEAN – Association of SouthEast Asian Nations

    At the invitation of the Government of the Kingdom of Morocco, H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, undertook an official visit to Morocco, from 24 to 26 June 2025.
     
    The visit underscored the growing cooperation between ASEAN and Morocco since the formalisation of the Sectoral Dialogue Partnership in 2023. It also reflected both sides’ shared commitment to further strengthening cooperation on promoting trade and investment, digital transformation, sustainable development, and people-to-people exchanges, among others.
     
    While in Rabat, the Secretary-General held meetings with H.E. Nasser Bourita, Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, H.E. Ryad Mezzour, Minister of Industry and Trade, H.E. Mohamed Saad Berrada, Minister of National Education, Pre-school Learning and Sports, H.E. Mohammed Mehdi Bensaid, Minister of Youth, Culture, and Communication, H.E. Abdeltif Loudyi, Minister Delegate to the Head of Government in Charge of the Administration of National Defense, and Mr. Redouane Arrach, Secretary-General of the Ministry of Agriculture, Fisheries, Rural Development, Water and Forests. The discussions touched on the deepening of ASEAN-Morocco relations, trade and investment, regional and global developments, and the importance of ASEAN as a regional consensus builder and its stabilising role in the Indo-Pacific region. The Meetings also emphasised the importance of upholding and strengthening the ASEAN Centrality, rules-based international order and the importance of practical cooperation pursued through the ASEAN Outlook on the Indo-Pacific (AOIP).
     
    The Secretary-General also delivered a lecture at the Moroccan Institute of Training, Research and Diplomatic Studies in Rabat where he exchanged views with a range of stakeholders on peace, diplomacy, and regional security issues. In Casablanca, the Secretary-General met with Mr. Said Ibrahimi, CEO of Casablanca Finance City (CFC), and engaged with representatives of the Moroccan General Confederation of Enterprises (CGEM), led by General Vice-President of CGEM, Mr. Mehdi Tazi.
     
    The visit of the Secretary-General of ASEAN to Morocco and his delegation demonstrated the scope and depth of ASEAN-Morocco relations and cooperation over the past years and reaffirmed both sides’ mutual commitment to further strengthening the partnership. ASEAN and Morocco look forward to advancing the implementation of the ASEAN-Morocco Practical Cooperation Areas (2024-2028) which will serve as a framework for tangible cooperation in the years ahead.
    The post Joint Summary of the Visit by H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, to the Kingdom of Morocco appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • From innovation to inclusion: India celebrates MSME Day with a focus on sustainability

    Source: Government of India

    Source: Government of India (4)

    MSME Day, observed on June 27, honours the vital role that Micro, Small, and Medium Enterprises play in driving innovation, employment, and inclusive economic growth. From local artisans to emerging tech startups, MSMEs are the backbone of resilient economies. This day highlights their achievements and challenges, while underscoring the critical need for policy support, financial inclusion, and digital transformation to help them thrive in an increasingly competitive world.

    Designated by the United Nations in 2017, the day serves as a reminder of the importance of supporting and empowering small businesses as engines of resilience and development—particularly in a post-pandemic, digitally evolving world.

    Globally, MSMEs account for 90% of all businesses, contribute 60–70% of employment, and generate half of the world’s GDP, according to UN estimates. In India, the sector holds even greater relevance—contributing nearly 30% to GDP, 45% of exports, and ranking second only to agriculture in employment generation.

    This year, the Ministry of MSME is celebrating ‘Udyami Bharat – MSME Day.’ The theme for 2025 focuses on “Enhancing the role of MSMEs as drivers of Sustainable Growth and Innovation.”

    Key government schemes

    The Ministry reported that India is home to over 6.3 crore MSMEs, spanning manufacturing, trade, and services. Several flagship initiatives are underway to support the sector’s growth.

    PM Vishwakarma, launched in September 2023 with an outlay of ₹13,000 crore, aims to enhance the skills and market access of traditional artisans and craftspeople. As of June 26, 2025, more than 2.71 crore applications had been submitted under the scheme, with nearly 30 lakh beneficiaries registered.

    The Udyam Registration Portal, introduced in July 2020, provides free, paperless registration for MSMEs. To extend formal benefits to informal businesses, the Udyam Assist Platform was launched in January 2023.

    Job creation and credit access

    The Prime Minister’s Employment Generation Programme (PMEGP), a credit-linked subsidy scheme, continues to promote self-employment by supporting the setup of micro-enterprises. Since its launch in 2008, it has aided more than 9.87 lakh units, generating over 80 lakh jobs with subsidies exceeding ₹26,000 crore. In FY 2024-25 alone, 58,028 new units were set up, creating employment for over 4.6 lakh people.

    Support for traditional industries

    The Scheme of Fund for Regeneration of Traditional Industries (SFURTI), which clusters artisans for competitiveness and sustainable income, has approved 513 clusters, of which 376 are functional. In 2023-24, 18 new clusters benefited nearly 12,000 artisans across 11 states.

    The Khadi and Village Industries sector has also seen rapid expansion. Sales have grown from ₹33,135 crore in 2014-15 to ₹1.55 lakh crore in 2023-24. Production has tripled in the same period, reaching over ₹1.08 lakh crore last fiscal.

    Boosting public procurement

    To enhance market access, the Public Procurement Policy mandates that 25 per cent of procurement by Central Public Sector Enterprises (CPSEs) be sourced from MSEs, including 4 per cent from SC/ST-owned and 3 per cent from women-owned businesses. In FY 2024-25 (as on December 5), CPSEs and departments procured goods worth ₹37,190 crore from 1.15 lakh MSEs—well above the target.

    Global outreach and partnerships

    The Ministry also focused on strengthening international partnerships. In 2024, India signed MoUs with Japan, Taiwan, Tajikistan, Egypt, and the US to support MSME development, training, and technology exchange. Key engagements included a Joint Working Group with Japan, collaboration with the US EXIM Bank, and a partnership with Taiwan’s ITRI.

    New initiatives and digital campaigns

    A series of 2024 campaigns and programmes targeted MSME digitisation and inclusion. The Special Campaign 4.0 in October cleared backlogs, freed up 43,342 sq ft of space, and generated ₹21.84 lakh through disposal of obsolete materials.

    The MSME-TEAM Scheme, launched on June 27, 2024, has an outlay of ₹277 crore to support five lakh micro and small enterprises, half of them led by women, with digital onboarding, logistics, and packaging support.

    The Yashasvini Campaign, also launched this June, aims to formalise and support women-led enterprises in partnership with NITI Aayog and the Ministry of Rural Development.

    The MSME Hackathon 4.0, launched in September 2024, is providing funding of up to ₹15 lakh to 500 young innovators. Additionally, the new Centre for Rural Enterprise Acceleration through Technology (CREATE) was inaugurated in Leh to support enterprise in the Himalayan region.

    MSMEs are transforming India’s growth by driving innovation, creating jobs, and empowering local communities—especially in rural and semi-urban areas. With policy support, digital tools, and new market access, they are key to sustainable, inclusive development.

    MSME Day is not just a celebration; it’s a reflection of how small businesses are shaping a self-reliant and future-ready India.

  • Indian markets likely to rise in Q3 FY26: Morgan Stanley

    Source: Government of India

    Source: Government of India (4)

    Indian stock markets are more likely to rise than fall in the third quarter of the financial year 2026 (Q3 FY26), global brokerage Morgan Stanley said in a note on Friday.
     
    The firm remains bullish on Indian equities, expecting strong economic data, supportive measures from the Reserve Bank of India (RBI), and better-than-expected corporate earnings to drive market gains from July onwards.
     
    According to Morgan Stanley, India is showing signs of steady improvement. Government spending is increasing, and the RBI appears to be shifting towards a more accommodative or ‘dovish’ policy stance. This, along with easing inflation, is creating a favourable environment for equities.
     
    The brokerage also believes that lower interest rates will encourage banks to increase lending, thereby boosting credit growth. Furthermore, if global uncertainties ease, Indian companies may begin to invest more in new projects.
     
    A key driver for the markets could be the upcoming corporate earnings season. Morgan Stanley expects many companies to exceed market expectations, supported by a lower base, improved operational efficiency, and steady consumer demand.
     
    Looking ahead, the RBI may cut interest rates by 25 basis points in the fourth quarter, which could further improve market sentiment.
     
    However, the brokerage cautioned that global factors continue to exert a significant influence on India’s markets. Rising geopolitical tensions, shifts in global trade policies, or a slowdown in developed economies could negatively impact domestic equities.
     
    Although India is generally viewed as a stable market, a broad-based global sell-off would likely have a spillover effect on Indian stocks. For instance, a sharp fall in crude oil prices could signal deeper global economic concerns, which may weigh on investor confidence.
     
    Despite these risks, Morgan Stanley believes that strong retail investor participation and sustained foreign institutional interest will provide a cushion against potential downside.
     
    Indian equities also benefit from a ‘scarcity premium’ and ongoing structural reforms such as the Goods and Services Tax (GST) overhaul and infrastructure development, which continue to bolster investor confidence.
     
    While current valuations are high relative to historical averages, the brokerage considers them justified in light of the strong earnings outlook.
     
    In the long term, India’s stable policy environment and robust growth potential make it one of the most attractive investment destinations among emerging markets, Morgan Stanley said.
     
    — IANS
  • MIL-OSI Russia: Construction, IT, retail: Moscow doubles career start opportunities for job seekers without work experience

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Center for Innovative HR Services “Professions of the Future” offers more than three thousand paid internships for young Muscovites and job seekers without work experience. This year, the number of offers has increased by 50 percent compared to last year. This was reported by Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    “We continue to develop a system in which the capital acts as a link between business and young people. This work is carried out by our flagship personnel center “Professions of the Future”, whose partners are leading employers of Moscow. This year, we increased the number of paid internships for young Muscovites and applicants without experience by 50 percent – today, over three thousand positions in IT, industry and other key sectors are available to them. This is an excellent opportunity for residents to get acquainted with the specifics of the company’s activities, gain practical skills, immerse themselves in the corporate culture and earn their first money. At the same time, interns can not only get a guaranteed path to employment, but also count on a decent salary at the start. For example, in construction, engineers starting their careers can earn up to 140 thousand rubles,” said Anastasia Rakova.

    Career mentors at the Professions of the Future center will help you find a suitable paid internship option. They will tell you how to write a resume and cover letter, and will also prepare you for an interview. In addition, the center hosts career festivals and meetings with employers. Leading companies and organizations offer Muscovites pre-graduation internship programs and current vacancies. With such a systematic approach, it becomes easier for beginning specialists to take the first step toward employment and a career.

    The leaders in the number of internships are companies in the field of information technology and telecommunications, as well as wholesale and retail trade. IT companies are looking for programmers, developers, analysts, testers, and retail needs sales managers and customer service managers, sales consultants, as well as marketing managers and Internet marketers. The duration of internships varies from three to 12 months, the average salary reaches 90 thousand rubles.

    There are also paid internships in the financial sector and manufacturing companies. Banks need auditor assistants and analysts, and companies need carpenter apprentices and CNC machine operators. The average salary is about 90 thousand rubles.

    Young specialists are also expected in the construction, creative industry, catering, housing and utilities sectors. Companies need design engineers, project engineers, waiters, bartenders, baristas, cooks, bakers, confectioners, designers, speech therapists, educators, packers and order pickers. The average salary in the construction sector is 140 thousand rubles, in the creative industry and housing and utilities sector – 70 thousand rubles, in the catering sector – 90 thousand rubles.

    The Moscow City Employment Service is the largest state personnel operator that helps residents of the capital find work. Its structure includes employment offices, many of which are located in the My Documents government service centers. The flagship centers are open at the following addresses: Kuusinen Street, Building 2, Building 1, and Shabolovka Street, Building 48. The specialized employment center My Career is located on Sergiya Radonezhskogo Street (Building 1, Building 1).

    At the Professions of the Future center (38 Shchepkina Street, Building 1), you can master one of 75 in-demand professions in various sectors of the economy in a maximum of three and a half months. Career mentors will help you find a job after completing your training. The center’s partners include more than three thousand employers. In addition, a comprehensive career guidance program is being implemented here for ninth-grade students.

    Get the latest news quickly official telegram channelthe city of Moscow.

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

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

    https: //vv.mos.ru/nevs/ite/155910073/

    MIL OSI Russia News

  • MIL-OSI Banking: Across Jammu, Kolkata and North East: Samsung Solve for Tomorrow Sparks Innovation Drive in Youth

    Source: Samsung

     
    New ideas continue to rise, as Samsung Solve for Tomorrow roadshows reach their final stretch. From the classrooms of Kolkata and the foothills of Jammu to the pine-covered landscapes of Shillong, each stop brought forward stories of determination, empathy and innovation.
     
    The latest phase of the roadshow touched Army Public School in Kolkata, Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST) in Jammu, and North Eastern Hill University (NEHU) in Shillong — each campus buzzing with youthful energy and a shared purpose: to solve real-world problems with real solutions.
     
    Launched on April 29, 2025, Samsung Solve for Tomorrow is a national innovation programme that gives students across India the opportunity to build tech-based solutions using design thinking. The programme offers expert mentorship from Samsung leaders and IIT Delhi faculty, investor connects, prototyping support, and a chance to win INR 1 crore for the top four teams.
     
    Spandan Mahapatra, a student of Army Public School in Kolkata, stood before his peers and shared his idea — an AI tool to detect early learning disabilities in schoolchildren. “Too many students are labelled as ‘slow learners’ when what they really need is early support. Samsung Solve for Tomorrow gave me the courage to act on this,” he said.
     
    At SKUAST in Jammu, the conversation turned to the region’s unique challenges. Ayan Shahid Malik came forward with a concept for a mobile-based system to help marginal farmers monitor soil health. “We live in an agricultural belt where people still rely on traditional methods. I want to bring tech to them in a way that’s simple and practical,” said Ayan.
     
    Meanwhile, at NEHU in Shillong, surrounded by rolling hills and monsoon skies, Bashan Kur Buhroy spoke of using drone-based delivery systems for emergency medicines in remote areas. “In the Northeast, there are places where ambulances can’t go. My idea is to use drones for urgent deliveries. With guidance from Samsung Solve for Tomorrow, I can turn this from a sketch into a solution,” said Bashan.
     
    Each session was a reminder that innovation doesn’t need perfect labs or polished pitches — it needs a spark. And across these cities, that spark was everywhere: in recycled plastic bricks, in mental health support apps, in solar-powered farming solutions.
     
    As the final call for entries approaches, the roadshow leaves behind more than application forms. It leaves behind belief — in ideas, in collaboration, and in the potential of young India.
     
    Applications close on June 30, 2025.
     
    If you have an idea, now is the time to act.
     
    Let’s build a tomorrow that works for everyone — starting today.

    MIL OSI Global Banks

  • MIL-OSI Africa: President Of Economic Community of West African States (ECOWAS) Bank Congratulates Sierra’s President Julius Maada Bio On His Election As Economic Community of West African States (ECOWAS) Chairman, Assures ECOWAS Bank for Investment and Development (EBID)’s Full Support For His Developmental Agenda


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    Dr. George Agyekum Donkor, President of the ECOWAS Bank for Investment and Development (EBID), has extended heartfelt congratulations to President Julius Maada Bio on his recent election as Chairman of ECOWAS Authority. In a congratulatory letter, Dr. Donkor emphasized that the election reflects the sub-region’s strong confidence in President Bio’s leadership. He also commended the President’s proven governance record and expressed optimism that his leadership will effectively tackle pressing regional issues such as economic growth, peace, and security throughout West Africa.

    The ECOWAS Bank for Investment and Development (EBID) stands as a premier financial institution dedicated to advancing economic progress across West Africa. Based in Lomé, Togo, EBID finances critical sectors including infrastructure, agriculture, energy, and small to medium enterprises (SMEs). The Bank is instrumental in promoting regional integration, strengthening the private sector, and reducing poverty within ECOWAS member countries.

    During the 67th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Abuja, Dr. Donkor also engaged in a productive discussion with President Bio. He reaffirmed EBID’s commitment to supporting Sierra Leone’s developmental priorities and lauded President Bio’s leadership. Dr. Donkor pledged to explore potential areas of collaboration between EBID and Sierra Leone.

    President Bio’s new role as ECOWAS Chairman highlights Sierra Leone’s expanding influence in regional affairs and represents a pivotal achievement for the nation. His tenure is expected to focus on fostering sustainable economic development, empowering communities, and revitalizing cultural heritage across West Africa.

    Distributed by APO Group on behalf of State House Sierra Leone.

    MIL OSI Africa

  • Sensex, Nifty rise in early trade amid global cues

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened in the green on Friday, supported by favourable global cues. The Nifty 50 hovered near the 25,600 mark, while the Sensex gained over 100 points in early trade.

    At around 9:15 a.m., the Sensex was trading 150.40 points or 0.18 per cent higher at 83,906.27, while the Nifty added 54.50 points or 0.21 per cent to reach 25,603.

    The Nifty Bank index was down 80.25 points or 0.14 per cent at 57,126.45 in early trade. The Nifty Midcap 100 index was trading at 59,505.65, gaining 278.25 points or 0.47 per cent. The Nifty Smallcap 100 index climbed 114.70 points or 0.61 per cent to 18,920.30.

    In the Sensex pack, L&T, Tata Steel, SBI, Tata Motors, NTPC, and HCL Tech were among the top gainers, while HDFC Bank, Bajaj Finserv, Kotak Mahindra Bank, and Bajaj Finance were among the top losers.

    Foreign institutional investors (FIIs) were net buyers on June 26, purchasing equities worth ₹12,594.38 crore. Meanwhile, domestic institutional investors (DIIs) were net sellers, offloading equities worth ₹195.23 crore.

    According to analysts, reports suggesting that the July 9 US tariff deadline is likely to be extended are supporting positive market sentiment. US President Donald Trump has also hinted at a “very big” trade deal with India, weeks after a team of negotiators from both countries held four days of closed-door talks on the agreement.

    In Asian markets, China, Bangkok, Seoul, and Hong Kong were trading in the red, while Japan was the only major market trading in the green.

    In the last trading session, the Dow Jones in the US closed at 43,386.84, up 404.41 points or 0.94 per cent. The S&P 500 gained 48.86 points or 0.80 per cent to close at 6,141.02, and the Nasdaq rose 194.36 points or 0.97 per cent to 20,167.91.

    IANS

  • MIL-OSI Economics: Result of the 7-day Variable Rate Reverse Repo (VRRR) auction held on June 27, 2025

    Source: Reserve Bank of India

    Tenor 7-day
    Notified Amount (in ₹ crore) 1,00,000
    Total amount of offers received (in ₹ crore) 84,975
    Amount accepted (in ₹ crore) 84,975
    Cut off Rate (%) 5.49
    Weighted Average Rate (%) 5.45
    Partial Acceptance Percentage of offers received at cut off rate NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/603

    MIL OSI Economics

  • MIL-OSI Banking: Result of Underwriting Auction conducted on June 27, 2025

    Source: Reserve Bank of India

    In the underwriting auction conducted on June 27, 2025, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

    Nomenclature of the Security Notified Amount
    (₹ crore)
    Minimum Underwriting Commitment (MUC) Amount
    (₹ crore)
    Additional Competitive Underwriting Amount Accepted
    (₹ crore)
    Total Amount underwritten
    (₹ crore)
    ACU Commission Cut-off rate
    (Paise per ₹100)
    New GS 2028 6,000 3,003 2,997 6,000 0.07
    6.33% GS 2035 30,000 15,015 14,985 30,000 0.12
    Auction for the sale of securities will be held on June 27, 2025.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/602

    MIL OSI Global Banks

  • Stock market opens higher as Trump indicates ‘great’ trade deal with India

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened in the green on Friday, buoyed by optimism over a potential India-US trade agreement and firm global cues. Gains in PSU bank and IT stocks helped drive early momentum.

    At around 9:15 a.m., the Sensex was trading 150.40 points or 0.18 per cent higher at 83,906.27, while the Nifty added 54.50 points or 0.21 per cent to reach 25,603.

    US President Donald Trump has hinted at a “very big” trade deal with India, weeks after a team of negotiators from both countries held four days of closed-door talks on the agreement. Addressing the ‘Big Beautiful Event’ at the White House, Trump said he has a “great deal” with India.

    According to analysts, reports suggesting that the July 9 US tariff deadline is likely to be extended are also supporting positive market sentiment.

    The Nifty Bank index was down 80.25 points or 0.14 per cent at 57,126.45 in early trade. The Nifty Midcap 100 index was trading at 59,505.65, gaining 278.25 points or 0.47 per cent. The Nifty Smallcap 100 index climbed 114.70 points or 0.61 per cent to 18,920.30.

    In the Sensex pack, L&T, Tata Steel, SBI, Tata Motors, NTPC, and HCL Tech were among the top gainers, while HDFC Bank, Bajaj Finserv, Kotak Mahindra Bank, and Bajaj Finance were among the top losers.

    Foreign institutional investors (FIIs) were net buyers on June 26, purchasing equities worth ₹12,594.38 crore. Meanwhile, domestic institutional investors (DIIs) were net sellers, offloading equities worth ₹195.23 crore.

    In Asian markets, China, Bangkok, Seoul, and Hong Kong were trading in the red, while Japan was the only major market trading in the green.

    In the last trading session, the Dow Jones in the US closed at 43,386.84, up 404.41 points or 0.94 per cent. The S&P 500 gained 48.86 points or 0.80 per cent to close at 6,141.02, and the Nasdaq rose 194.36 points or 0.97 per cent to 20,167.91.

    IANS

  • MIL-OSI Economics: Money Market Operations as on June 26, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 6,07,651.46 5.16 0.01-6.30
         I. Call Money 18,327.98 5.27 4.75-5.35
         II. Triparty Repo 4,00,730.45 5.24 5.00-5.26
         III. Market Repo 1,86,894.48 4.97 0.01-5.75
         IV. Repo in Corporate Bond 1,698.55 5.46 5.40-6.30
    B. Term Segment      
         I. Notice Money** 565.85 5.26 5.00-5.30
         II. Term Money@@ 548.00 5.40-6.80
         III. Triparty Repo 2,750.00 5.41 5.20-5.50
         IV. Market Repo 446.63 4.02 2.00-5.65
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Thu, 26/06/2025 1 Fri, 27/06/2025 1,826.00 5.75
    4. SDFΔ# Thu, 26/06/2025 1 Fri, 27/06/2025 2,79,877.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,78,051.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,010.46  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     7,010.46  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,71,040.54  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 26, 2025 9,35,809.33  
         (ii) Average daily cash reserve requirement for the fortnight ending June 27, 2025 9,54,173.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 26, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 30, 2025 5,84,684.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/601

    MIL OSI Economics

  • MIL-OSI China: Lack of essentials in Gaza leads to increase in preventable diseases: UN

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

    Palestinians gather to receive food aid at a food assistance distribution point in Gaza City, on June 26, 2025. [Photo/Xinhua]

    UN humanitarians said Thursday that its partners delivering health aid in Gaza reported a spike in preventable diseases linked to a lack of clean water, sanitation and fuel.

    The UN Office for the Coordination of Humanitarian Affairs (OCHA) said that in the last two weeks, more than 19,000 cases of acute watery diarrhea were recorded, alongside more than 200 cases each of acute jaundice syndrome and bloody diarrhea.

    “These outbreaks are directly linked to the lack of clean water and sanitation in Gaza, underscoring the urgent need for fuel, medical supplies, and water, sanitation and hygiene items to prevent further collapse of the public health system,” the humanitarians said.

    Palestinians collect items in the rubble of a destroyed building after an Israeli airstrike at the Shati refugee camp, west of Gaza City, on June 26, 2025. [Photo/Xinhua]

    The partners also reported yet another mass casualty incident for Al Aqsa Hospital following an airstrike in Deir al-Balah.

    They said the hospital received more than 20 people killed and 70 others injured. Additional wounded patients had to be transferred to Nasser Medical Complex and two other health facilities.

    “Civilians in Gaza continue to be killed or injured daily, whether in Israeli airstrikes, shelling, or while trying to find food for their families,” said OCHA. “These tragic events must not be normalized and must come to an immediate end.”

    On a more positive note, the World Health Organization (WHO) reported delivering its first medical shipment into Gaza since March 2, when Israel imposed a full blockade on the strip. Nine trucks carrying essential medical supplies, 2,000 units of blood, and 1,500 units of plasma were transported from the Kerem Shalom/Karem Abu Salem border crossing.

    Palestinians carry aid they received from trucks that entered the northern Gaza Strip, at a street north of Gaza City, on June 22, 2025. [Photo/Xinhua]

    The WHO said the supplies were being distributed to priority hospitals. The blood and plasma were delivered to the cold storage facility at Nasser Medical Complex in Khan Younis in southern Gaza, to be distributed to hospitals facing critical shortages amid a growing influx of injuries, many linked to incidents at the non-UN, militarized food distribution sites run by the United States.

    The WHO said the shipment of the badly needed medical supplies is only a drop in the ocean.

    OCHA said that to meet humanitarian needs and help reduce looting, it is essential to increase the flow of humanitarian and essential commercial goods into Gaza through multiple crossings and routes and facilitate their safe distribution across the strip.

    The office said that on Wednesday, six out of 17 attempts to coordinate humanitarian movements inside Gaza were rejected outright by the Israeli authorities. The planned UN missions included trucking water and repairing roads. Nine other coordination attempts, including the removal of solid waste and collection of cargo from the crossings, were facilitated by the Israeli authorities. Two additional attempts were not made.

    “The continued restrictions on humanitarian access are severely undermining life-saving operations,” the office said.

    People carry the bodies of three Palestinians killed in an Israeli settler attack in the town of Kafr Malik east of Ramallah, central West Bank, on June 26, 2025. [Photo/Xinhua]

    OCHA said it is gravely concerned about escalating violence and Israeli settler attacks against Palestinians in the West Bank.

    The office said it documented an attack where three Palestinians were killed and several others injured when hundreds of settlers, some armed and accompanied by Israeli forces, raided the village of Kafr Malik and set fire to occupied homes on Wednesday. The Palestinian Central Bureau of Statistics in the Ramallah governorate reported that Kafr Malik has a population exceeding 3,000.

    OCHA said that in another attack on Wednesday, about 20 settlers set fire to farmland in Asira al Qibliya village in Nablus governorate.

    “Civilians continue to bear the brunt of this prolonged Israeli occupation,” the office said of violence in Gaza and the West Bank. “OCHA reiterates its call for the protection of civilians and humanitarian personnel, full respect for international law, and unfettered humanitarian access.”

    MIL OSI China News

  • MIL-OSI China: China, Britain deepen green finance cooperation with new work stream

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

    Financial professionals and experts from China and Britain on Thursday formally launched a joint work stream in London, in a bid to strengthen bilateral cooperation on sustainable finance and biodiversity protection.

    The UK-China Nature and Biodiversity Finance Work Stream, initiated by the China-UK Green Finance Taskforce and co-led by Bank of China and Standard Chartered, will focus on cross-border collaboration and innovation in areas such as natural capital valuation, biodiversity-related disclosure tools and nature-focused investment mechanisms.

    The launch coincided with a high-level forum hosted by Bank of China’s London branch, titled “From Policy to Impact: A Global Perspective on the Current State of Sustainable Development.” The forum, part of the official program of this year’s London Climate Action Week, brought together over 100 participants from financial institutions, government agencies, regulators, think tanks and academia across China, Britain and Europe.

    “Green finance and sustainable development have become central to global high-quality growth and the transformation of financial systems,” said Fang Wenjian, CEO of Bank of China (UK) Limited, during the forum’s opening remarks.

    Charles Bowman, co-chair of the China-UK Green Finance Taskforce, said the initiative came at a critical time. “We must accelerate global capital flows to tackle the climate crisis,” he said. “China and the UK are co-leading this effort through their net-zero commitments and renewable energy investments.”

    London Climate Action Week, founded in 2019 by climate think tank E3G and the Mayor of London’s office, serves as a global platform for policymakers, business leaders, investors and academics to advance climate action and sustainable development. 

    MIL OSI China News

  • MIL-OSI: Bitcoin Treasury Corporation Announces the Resumption of Trading of Its Common Shares on the TSX Venture Exchange, Closing of Common Share Offering and Initial Bitcoin Acquisition

    Source: GlobeNewswire (MIL-OSI)

    Trading to Commence Under Symbol “BTCT”

    Not for distribution to United States news wire services or for dissemination in the United States.

    TORONTO, June 26, 2025 (GLOBE NEWSWIRE) — Bitcoin Treasury Corporation (TSXV: BTCT) (“Bitcoin Treasury” or the “Corporation”), further to its press releases dated June 17, 2025, and June 24, 2025, is pleased to announce that the Corporation’s common shares (the “Bitcoin Treasury Shares”) have been listed on the TSX Venture Exchange (the “TSXV”) with an immediate trading halt and, pursuant to a bulletin issued by the TSXV on June 26, 2025, the Bitcoin Treasury Shares will resume trading freely on June 30, 2025 under the symbol BTCT, CUSIP Number: 09175U103. There are 10,075,080 Bitcoin Treasury Shares issued and outstanding.

    Bitcoin Treasury Share Offering

    The Corporation also wishes to announce that, as of today, it has completed its brokered offering (the “Offering”) of 426,650 Bitcoin Treasury Shares at a price of $10.00 per Bitcoin Treasury Share (the “Offered Shares”). The Offering, combined with the Concurrent Financing (as defined in the Corporation’s press release dated June 23, 2025), resulted in aggregate gross proceeds to the Corporation of $125,000,000. The Offered Shares are eligible for investment in RRSPs, RESPs, RRIFs, RDSPs, TFSAs, FHSAs and DPSPs, but are subject to a statutory hold period of four months plus one day from today, June 26, 2025, being the date the Offered Shares were issued, in accordance with Applicable Canadian Securities Laws. As announced in a press release of the Corporation dated June 24, 2025, the TSXV issued a bulletin on June 24, 2025, providing that the Corporation had met all final listing requirements assuming completion of the Offering.

    Canaccord Genuity and Stifel acted as co-lead agents, together with National Bank Financial Markets, BMO Capital Markets, CIBC Capital Markets, Wellington-Altus, Greenhill, a Mizuho affiliate, Research Capital, Haywood Securities, ATB Capital Markets, Independent Trading Group, Richardson Wealth and Ventum Capital Markets (collectively, the “Agents”) in connection with the Offering. As consideration for their services, the Corporation paid to the Agents cash fees of $178,950.

    Bitcoin Acquisition

    On June 26, 2025, following the closing of its concurrent financing, the Corporation acquired 292.80 Bitcoin for a total purchase price of CAD $43,127,353. The Corporation now holds 292.80 Bitcoin on its balance sheet. This acquisition marks the official launch of BTCT’s Bitcoin accumulation plan. The Corporation will disclose its initial Bitcoin per Share (BPS) once this phase of the program is complete.

    BTCT intends to leverage its Bitcoin holdings to offer institutional lending solutions that provide liquidity to counterparties, while prioritizing financial security and disciplined risk management. The Corporation views Bitcoin not only as a long-term reserve asset, but also as a core component of its operating model and revenue generation strategy.

    About Bitcoin Treasury

    Bitcoin Treasury Corporation is a Canadian-based company focused on institutional-grade Bitcoin services, initially offering Bitcoin-denominated loans., including lending, liquidity, and collateral solutions. Bitcoin Treasury’s core strategy is to build shareholder value through the strategic accumulation and active deployment of Bitcoin. Recognizing Bitcoin’s finite supply and long-term potential, the Corporation intends to maintain a robust treasury position while supporting the development of its service offerings.

    For further information, please contact:

    Bitcoin Treasury Corporation
    Elliot Johnson, Chief Executive Officer
    Phone: 416-619-3403
    Email: ejohnson@btctcorp.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Cautionary Note Regarding Forward-Looking Statements

    This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects” or “does not expect”, “is expect”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, or variations of such words and phrases) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: business integration risks; the Corporation’s operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; the Corporation operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of the Corporation; evolving cryptocurrency regulatory requirements and the impact on the Corporation’s business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation’s business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation’s business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the requirements that accompany being a publicly traded company may put a strain on the Corporation’s resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; liquidity risk; leverage risk; and share price fluctuations.

    Although management of the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management’s estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law.

    The TSXV has neither approved nor disapproved the contents of this news release.

    The MIL Network

  • MIL-OSI: Bitcoin Treasury Corporation Announces the Resumption of Trading of Its Common Shares on the TSX Venture Exchange, Closing of Common Share Offering and Initial Bitcoin Acquisition

    Source: GlobeNewswire (MIL-OSI)

    Trading to Commence Under Symbol “BTCT”

    Not for distribution to United States news wire services or for dissemination in the United States.

    TORONTO, June 26, 2025 (GLOBE NEWSWIRE) — Bitcoin Treasury Corporation (TSXV: BTCT) (“Bitcoin Treasury” or the “Corporation”), further to its press releases dated June 17, 2025, and June 24, 2025, is pleased to announce that the Corporation’s common shares (the “Bitcoin Treasury Shares”) have been listed on the TSX Venture Exchange (the “TSXV”) with an immediate trading halt and, pursuant to a bulletin issued by the TSXV on June 26, 2025, the Bitcoin Treasury Shares will resume trading freely on June 30, 2025 under the symbol BTCT, CUSIP Number: 09175U103. There are 10,075,080 Bitcoin Treasury Shares issued and outstanding.

    Bitcoin Treasury Share Offering

    The Corporation also wishes to announce that, as of today, it has completed its brokered offering (the “Offering”) of 426,650 Bitcoin Treasury Shares at a price of $10.00 per Bitcoin Treasury Share (the “Offered Shares”). The Offering, combined with the Concurrent Financing (as defined in the Corporation’s press release dated June 23, 2025), resulted in aggregate gross proceeds to the Corporation of $125,000,000. The Offered Shares are eligible for investment in RRSPs, RESPs, RRIFs, RDSPs, TFSAs, FHSAs and DPSPs, but are subject to a statutory hold period of four months plus one day from today, June 26, 2025, being the date the Offered Shares were issued, in accordance with Applicable Canadian Securities Laws. As announced in a press release of the Corporation dated June 24, 2025, the TSXV issued a bulletin on June 24, 2025, providing that the Corporation had met all final listing requirements assuming completion of the Offering.

    Canaccord Genuity and Stifel acted as co-lead agents, together with National Bank Financial Markets, BMO Capital Markets, CIBC Capital Markets, Wellington-Altus, Greenhill, a Mizuho affiliate, Research Capital, Haywood Securities, ATB Capital Markets, Independent Trading Group, Richardson Wealth and Ventum Capital Markets (collectively, the “Agents”) in connection with the Offering. As consideration for their services, the Corporation paid to the Agents cash fees of $178,950.

    Bitcoin Acquisition

    On June 26, 2025, following the closing of its concurrent financing, the Corporation acquired 292.80 Bitcoin for a total purchase price of CAD $43,127,353. The Corporation now holds 292.80 Bitcoin on its balance sheet. This acquisition marks the official launch of BTCT’s Bitcoin accumulation plan. The Corporation will disclose its initial Bitcoin per Share (BPS) once this phase of the program is complete.

    BTCT intends to leverage its Bitcoin holdings to offer institutional lending solutions that provide liquidity to counterparties, while prioritizing financial security and disciplined risk management. The Corporation views Bitcoin not only as a long-term reserve asset, but also as a core component of its operating model and revenue generation strategy.

    About Bitcoin Treasury

    Bitcoin Treasury Corporation is a Canadian-based company focused on institutional-grade Bitcoin services, initially offering Bitcoin-denominated loans., including lending, liquidity, and collateral solutions. Bitcoin Treasury’s core strategy is to build shareholder value through the strategic accumulation and active deployment of Bitcoin. Recognizing Bitcoin’s finite supply and long-term potential, the Corporation intends to maintain a robust treasury position while supporting the development of its service offerings.

    For further information, please contact:

    Bitcoin Treasury Corporation
    Elliot Johnson, Chief Executive Officer
    Phone: 416-619-3403
    Email: ejohnson@btctcorp.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Cautionary Note Regarding Forward-Looking Statements

    This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects” or “does not expect”, “is expect”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, or variations of such words and phrases) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: business integration risks; the Corporation’s operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; the Corporation operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of the Corporation; evolving cryptocurrency regulatory requirements and the impact on the Corporation’s business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation’s business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation’s business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the requirements that accompany being a publicly traded company may put a strain on the Corporation’s resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; liquidity risk; leverage risk; and share price fluctuations.

    Although management of the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management’s estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law.

    The TSXV has neither approved nor disapproved the contents of this news release.

    The MIL Network