Category: Economy

MIL-OSI: Unaudited Half-Yearly Financial Report

Source: GlobeNewswire (MIL-OSI)

FORESIGHT VENTURES VCT PLC
(FORMERLY THAMES VENTURES VCT 1 PLC)

Unaudited Half-Yearly Financial Report
30 September 2024

FINANCIAL HIGHLIGHTS

£72.7m
Total net assets
as at 30 September 2024

1.1p
Dividend paid
26 July 2024

42.1p
NAV per share
as at 30 September 2024

CHAIR’S STATEMENT

“I present the Company’s unaudited Half-Yearly Financial Report for the six months ended 30 September 2024.”

Post-period activity
Before discussing the period to 30 September 2024, I would like to welcome our new Shareholders who have been issued shares in the Company as part of the merger with Thames Ventures VCT 2 plc (“TV2”). The merger completed on 15 November following a General Meeting held on 8 November. As part of the merger, the Company has been renamed Foresight Ventures VCT plc, and TV2 has been placed into members’ voluntary liquidation. I am also pleased to welcome Andrew Mackintosh, previously a director of TV2, who has now been appointed to the Board of the Company following completion of the merger.

The Company’s Net Asset Value (“NAV”) per share has been reset to 100.0p and the merger has resulted in an enlarged company with net assets of £110 million. The Board believes this will bring a number of benefits to the Company, such as greater scale to raise and deploy capital into new and existing portfolio companies, as well as improved liquidity for dividends and buybacks.

On 15 November, the Company launched an offer for subscription to raise £5 million (with an over-allotment facility of a further £5 million). The promoter’s fee will be waived for applications made by existing shareholders of any Foresight VCT. New investors, who do not benefit as existing investors but who make an application by 20 December 2024, will, however, benefit from the offer costs being reduced by 1.0% of the amount subscribed.

Net Asset Value and dividends
As at 30 September 2024, the Company’s NAV per share stood at 42.1p, a decrease of 4.0p (or 8.7%) over the period. After adding back the dividend paid in the period of 1.1p per share, the decrease was 6.3%.

The Company’s policy is to seek to pay annual dividends of at least 4% of net assets per annum. During the period, on 26 July 2024, the Company paid an interim dividend of 1.1p, taking total dividends paid in respect of the year ended 31 March 2024 up to 2.1p per share, equivalent to 4.1% of the opening net assets of the previous financial year. This took the total dividends paid since the merger with Downing Absolute Income VCT 1 plc, Downing Absolute Income VCT 2 plc, Downing Income VCT plc, Downing Income VCT 3 plc and Downing Income VCT 4 plc in November 2013 to 47.6p per share.

The Company offers its Shareholders the opportunity to participate in a Dividend Reinvestment Scheme, whereby they may elect to receive shares, credited as fully paid, instead of receiving dividends in cash. If you wish to participate, please contact the registrar, City Partnership, at the details provided on page 30 of the Unaudited Half-Yearly Financial Report.

Investment performance and portfolio activity
A detailed analysis of the investment portfolio performance over the period is given in the Investment Adviser’s Review.

In brief, during the six months under review, the whole portfolio showed investment valuation losses of £9.4 million. Despite this disappointing overall performance, there were some highlights; a total of £2.9 million of proceeds were received from the sale of Data Centre Response Limited, as well as deferred consideration totalling £0.6 million, producing realised gains of £2.2 million. The Investment Adviser also completed two follow-on investments totalling £1.1 million.

Responsible investing
The Board notes the commitment of the Investment Adviser, Foresight Group, to being a “Responsible Investor”. Foresight places environmental, social and governance (“ESG”) criteria at the forefront of its business and investment activities in line with best practice and in order to enhance returns for their investors.

Further detail can be found on page 17 of the Unaudited Half-Yearly Financial Report.

Special administration of the Company’s custodian of quoted assets
As previously reported, since September 2020 the Company has used IBP Capital Markets Limited (“IBP”) as custodian for its quoted investments. Appointing a custodian is a requirement of the FCA, and IBP is an FCA authorised and regulated wholesale broker, providing custody services and access to equity and fixed income securities for non-retail clients (which includes the Company).

On 13 October 2023, the FCA published a supervisory notice under section 55L(3)(a) of the Financial Services and Markets Act 2000, imposing certain restrictions on IBP. On the same date, IBP applied to the High Court and special administrators were appointed.

As noted in the Annual Report, on 19 July 2024, around 80% of the quoted investment portfolio was returned to the Company, meaning normal management and trading of these positions was resumed. The remaining 20% will be returned following the conclusion of court proceedings, the timing of which is currently anticipated to take place in the second half of 2025, unless additional claims are submitted or the outcome of the court proceedings in terms of a final distribution is any different. The Company will communicate with Shareholders if there is any new information which materially impacts the numbers presented in this report.

Share buybacks
The Company continues to operate a policy of buying in its own shares that become available in the market at a 5% discount to NAV (subject to liquidity and regulatory restrictions). Subsequent to the merger, the Board intends to reduce this target discount to 2.5% in future.

During the period the Company purchased 5,522,581 shares for cancellation at an average discount of 5.0%, which represented 3.1% of shares in issue at the date of the last Annual Report.

Share buybacks are timed to avoid the Company’s closed periods. Buybacks will generally take place, subject to demand, during the following times of the year:

August, after the Annual Report has been published
September, prior to the Half-Yearly reporting date of 30 September
January, after the Half-Yearly Report has been published
March, prior to the end of the financial year

The Company retains Panmure Liberum as its corporate broker to assist in operating the share buyback process and ensuring that the quoted spread on the Company’s shares remains at a reasonable level. Contact details for Panmure Liberum are on page 30 of the Unaudited Half-Yearly Financial Report.

Management charges and performance incentive
The annual management fee is an amount equal to 2.0% of net assets. There is no change to the management fee or secretarial fee post-merger. From 1 October 2024, the Investment Adviser took over responsibility for management of the Quoted Growth portfolio from Downing LLP. The team at Downing LLP continues to advise the Company on the Yield Focused portfolio under a subcontract agreement with Foresight Group LLP.

A new performance incentive scheme was formally approved by Shareholders as part of the merger on 15 November 2024. This scheme, in brief, means a performance fee would be payable to the Investment Adviser at the end of each performance period, subject to a total return hurdle. The fee would be equal to the lesser of: (i) 20% of distributions attributable to the relevant performance period; or (ii) 20% of the increase in the total return which is higher than the hurdle. The Board believes this new scheme will provide additional motivation for the Investment Adviser to drive enhanced shareholder value.

Board composition
As noted in the Annual Report, Chris Kay resigned as a Director of the Company on 6 June 2024. Post period end, Andrew Mackintosh has joined the Board from TV2 subsequent to the merger. Andrew is chair of UKI2S, a government-backed venture capital fund supporting companies from the UK’s scientific research base. He is a Fellow of the Royal Academy of Engineering and was awarded a CBE in the 2024 New Year Honours for services to Science and Technology, and to Enterprise Development, and we are delighted to have him on board.

The Board now comprises four Non-Executive Directors, which the Board considers to be an appropriate number for the current size of the VCT. All of the Directors are independent of the Investment Adviser, with the exception of Chris Allner who is considered non-independent by virtue of being a partner at Downing LLP, the previous investment adviser to the Company, which still provides some services to our new Investment Adviser.

VCT sunset clause
I am pleased to report that new regulations have been made to extend the UK’s VCT scheme by ten years to April 2035, following the European Commission’s confirmation that they would not oppose the continuation of the scheme. This now removes any recent uncertainty and will help support further investment by the VCT sector in early-stage companies.

Outlook
At the date of the merger the Company’s NAV per share had increased to 42.6p, as a result of valuation uplifts in the Quoted Growth portfolio, as well as favourable exchange rates on our US investments. With an offer for subscription now out to raise further funds, in addition to the cash boost on acquiring the assets of TV2, and a refreshed performance incentive scheme to greater motivate the Investment Adviser, we look forward to seeing an increase in deployment to enhance the portfolio and returns to Shareholders. Whilst the macroeconomic environment has been challenging for the last two years, the Investment Adviser is cautiously optimistic that 2025 will provide more positive conditions for our portfolio companies. The downward trajectory of inflation and interest rates should lead to increasing confidence and encourage investors to return to the market.

Atul Devani
Chair

20 December 2024

INVESTMENT ADVISER’S REVIEW

“We present our Investment Adviser’s Review for the six‑month period ended 30 September 2024.”

Unquoted Growth
Portfolio summary
At 30 September 2024, the Company held total unquoted investments of £44.4 million, split £34.5 million Unquoted Growth and £9.9 million Unquoted Yield Focused. Details of the Unquoted Yield Focused portfolio performance are set out on page 8 of the Unaudited Half-Yearly Financial Report.

The Unquoted Growth portfolio comprises 29 companies, across a range of sectors. Following a challenging period for the year ended 31 March 2024, with the portfolio unfavourably impacted by the downturn of the UK economy, the six months ended 30 September 2024 has been similarly disappointing, resulting in an overall unrealised investment valuation loss of £2.2 million in the portfolio.

Investment activity
There were no new investments made during the period ended 30 September 2024. The Company made follow-on investments in two Unquoted Growth companies during the period, totalling £1.1 million:

FundingXchange Limited (£750,000), a fintech platform delivering SME lenders insights into their portfolios. This investment was made concurrently with a £5.0 million investment from Barclays as part of a £6.0 million round. This transformational investment will allow the company to build on early commercial success and deepen the strategic and commercial relationship with Barclays.

Rated People Limited (£375,000), an online marketplace connecting homeowners and local tradespeople. This investment allows the strengthened management team to implement the necessary product and operational changes to enable a return to growth and a cash-generative business model.

There was one realisation during the period ended 30 September 2024:

DSTBTD Limited (trading as Distributed) was sold for £1 to ILX Group. No proceeds were returned to the Company, which was a disappointing result for the team, but a favourable outcome to an administration process, which was a real possibility after a proposed funding failed to come together.

Key portfolio developments
There were some material write downs in the Unquoted Growth portfolio during the period, and some companies have continued to struggle in the challenging macroeconomic environment. However, there have also been some positive movements in valuation. This has resulted in a net total realised and unrealised investment valuation loss of £3.0 million in the period, including £0.7 million in unrealised foreign exchange losses.

Of the total investment loss, total losses of £6.5 million were offset by gains of £3.5 million. The most significant movements are noted below.

The largest gain in value was in Ayar Labs, Inc, a silicon photonic chiplet developer used in next-generation AI data centers of the major hyperscalers and cloud-service providers. The valuation increased by £1.9 million, including foreign exchange losses, as a result of a new funding round.

Other unrealised valuation gains included:

Rated People Limited, an online marketplace connecting homeowners and local tradespeople, increased in value by £596,000. This was due to a follow-on funding round enhancing the Company’s share of proceeds on any liquidity event. It is also worth noting that the company is now trading profitably and under new leadership.

Carbice Corporation, Inc has developed a suite of products based on its carbon material, used primarily as thermal management solutions to enable greater thermal conductivity. The valuation increased by £401,000, including foreign exchange losses, as a result of the recent closure of a funding round that increases the prospect of growth and, ultimately, a positive realisation for investors.

Four other companies in the Unquoted Growth portfolio made up investment valuation gains of £603,000.

There were also a number of valuation losses reported in the period. The greatest loss was in Cambridge Touch Technologies Ltd, a company developing pressure sensitive multi-touch technology, which reduced in value by £1.9 million as a result of a challenging funding environment for deep tech companies. As noted above, DSTBTD Limited (trading as Distributed) was sold for £1 to ILX Group during the period. No proceeds were returned to the Company, resulting in a realised loss of £775,000.

Other investment valuation losses included:

Vivacity Labs Limited, a provider of Artificial Intelligence sensors to monitor and control traffic flows, was written down to nil value in the period, a decrease in value of £960,000, following a new funding round. The investment round (that we chose not to participate in) generated penal terms for shareholders not participating in the funding round and resulted in the write down.

Masters of Pie Limited, developer of “Radical”, a software solution that enables remote sharing and collaboration on large data sets, was reduced by £700,000 as a result of a challenging period for the company from a trading perspective. It is hoped that this situation will improve in Q4 2024, albeit the position remains challenging.

Virtual Class Ltd (trading as Third Space Learning), a platform offering personalised online lessons from specialist tutors, decreased in carrying value by £466,000, driven by significant budgetary pressure experienced by UK schools, a key customer group. It is hoped that early international sales (in the US) will somewhat offset challenges in the UK market.

Parsable, Inc., a provider of software to improve operational efficiencies in the industrial and manufacturing sectors, has seen a valuation decrease of £460,000, including foreign exchange losses. During the period, an offer to acquire Parsable was received that, whilst at a valuation lower than we expected, was accepted by the Board, and the valuation has been aligned with anticipated proceeds.

Bulbshare Limited, a company that enables brands to build communities from their existing customers to gather consumer insights, was exited post period end. The valuation was reduced by £371,000 in line with the exit proceeds received.

Trinny London Limited, a multi-channel female beauty and skincare brand, was reduced in value by £354,000 due to a decline in comparable market valuation multiples. Despite this, the business increased revenue during the period and remains profitable.

CommerceIQ, Inc., the pioneer in helping brands win on retail e-commerce channels, decreased by £221,000 in the period, including foreign exchange losses. Whilst CommerceIQ’s revenues increased during the period, market valuations for similar businesses declined and, consequently, the valuation fall is a reflection of wider market conditions.

Four other companies in the Unquoted Growth portfolio made up valuation losses of £340,000. Aside from Vivacity Labs Limited, no other investments were written down to nil during the period.

Post period end activity
After the period end, the Company completed two new investments totalling £1.6 million into Dragonfly Technology Solutions Ltd (£600,000), a predictive analytics business, and Alison Technologies Ltd (£978,000), a developer of an innovative AI marketing insights tool. The Company also completed two follow-on investments totalling £1.1 million into Maestro Media Limited (£750,000) and Virtual Class Ltd (£300,000). The Company received £1.1 million in proceeds from the exit of Bulbshare Limited in October.

At the date of the merger, the Unquoted Growth portfolio had seen positive foreign exchange movements totalling £421,000.

Outlook
Whilst the macroeconomic environment has been challenging for the last two years, we are cautiously optimistic that 2025 will provide more positive conditions for our portfolio companies. The downward trajectory of inflation and interest rates should lead to increasing confidence and encourage investors to return to the market. From an exit perspective, the IPO market is unlikely to open up in the short term, but we are seeing signs that PE and trade buyers will be more active in 2025, offering potential liquidity opportunities for portfolio companies.

In addition to the anticipated improved macro environment, we believe the merger with Thames Ventures VCT 2 plc has created a company well placed for success, with a very clear investment mandate (exclusively investing in private technology businesses) and benefiting from more streamlined company reporting and administration.

Foresight Group LLP
20 December 2024

Yield Focused portfolio
Downing LLP continues to advise the Company on the Unquoted Yield Focused portfolio under a subcontract from Foresight Group LLP.

Downing presents a review of the Yield Focused portfolio for the six months ended 30 September 2024. At the period end, the Yield Focused portfolio consisted of seven active investments, all of which are unquoted, with a total value of £9.9 million.

Divestment activity
During the period, the focus was on investment realisations from the Yield Focused portfolio, which resulted in proceeds of £2.9 million from the exit of Data Centre Response Limited, a provider of power solutions and maintenance services to data centres. There were no new or follow-on investments.

Realisations in the period ended 30 September 2024

		Total	Cost at date	Exit	Total
		invested	of disposal	proceeds	return
Company	Detail	(£)	(£)	(£)	(£)
Data Centre Response Limited	Full disposal	557,441	557,441	2,916,694	2,916,694

Key portfolio developments
The Yield Focused portfolio reduced in value by £113,000 during the period, with one company, Data Centre Response Limited, recognising a gain of £494,000 on exit, as noted above, and four companies recognising unrealised losses of £607,000:

Pilgrim Trading Limited, an operator and owner of two children’s nurseries in West London, decreased in value by £437,000 after two periods of unsuccessful marketing proved the last independent valuation of the business to be unachievable in current market conditions. Consequently, the independent valuation has now been heavily discounted.

Kimbolton Lodge Limited, a nursing and care home in Bedfordshire, decreased in value by £67,000 to bring the valuation in line with the anticipated proceeds from a sale process that is currently underway.

Doneloans Limited, which holds a portfolio of secured loans, decreased in value by £67,000 driven by the cost of its own funding marginally exceeding interest receivable from its borrowers.

SF Renewables (Solar) Limited, which built and operates a solar plant in India, was reduced by £36,000 in line with the exit proceeds received post period end.

Outlook
With one exit during the period and another shortly after period end, there were six investments remaining in the Yield Focused portfolio at the time of writing. Downing is actively seeking to progress exits from both Kimbolton Lodge and Pilgrim Trading, though the latter is currently looking less likely to materialise. Given current market conditions, sales of the higher value, hotel-related investments, Baron House Developments and Cadbury House Holdings, are expected to take some time to complete. The recovery of value from Doneloans is linked largely to the sale of Pilgrim Trading, which is the lender’s largest loan, but additional recoveries are anticipated from other borrowers over the next 12 months.

Downing LLP and Foresight Group LLP
20 December 2024

Quoted Growth portfolio
For the six months to 30 September 2024, Downing LLP continued to advise the Company on the Quoted Growth portfolio under a subcontract from Foresight Group LLP. From 1 October 2024, Foresight Group LLP took on full responsibility for management of the Quoted Growth portfolio.

Investment activity
Markets continued to be volatile through the reporting period. The impending Budget dominated market behaviours, particularly the FTSE AIM Index, where fears over an abolition of IHT reliefs on AIM shares adversely affected the market. In the end, this fear was overcooked, and the FTSE AIM All Share rallied 4% on the day of the Budget, as it was announced that reliefs on AIM shares would remain, albeit at half the relief previously enjoyed. Since the Budget, the new concern has been focused on the impact of National Insurance increases, which have weighed heavily on UK Small and Mid-Cap companies. There is a general acceptance that inflation will still be a looming threat and hence interest rates will remain higher for longer.

There were no investments or realisations made during the six months to 30 September 2024.

Key portfolio developments
At 30 September 2024, the Quoted Growth portfolio was valued at £13.4 million, comprising 36 active investments. Over the six-month period, the portfolio produced net valuation losses of £4.7 million, offset by £3.8 million received in dividends from the portfolio. Two companies, valued at £78,000 at year end, have been written down to nil during the period.

The most significant loss was incurred in Tracsis plc, a provider of transport technology, which saw valuation losses of £2.4 million during the period due to a profit warning, citing delays on rail infrastructure spend incurred due to the early election. This was exacerbated by contract delays in their US business.

This was offset by valuation gains elsewhere in the portfolio, where Anpario plc, a specialist manufacturer and distributor of natural sustainable feed additives for animal health, nutrition and biosecurity, increased by £680,000 net of £46,000 dividends received, reflecting an improvement in trading post supply chain issues experienced during the inflationary period post covid.

A net gain of £615,000 was made in Downing Strategic Micro‑Cap Investment Trust plc, where special dividends of £3.7 million were made during the period, as part of the managed wind-down of the Trust. Since the period end, a further special dividend of 2.2p, equating to £133,000, has been received by the Company.

Meanwhile Cohort plc, the parent company of six businesses providing a wide range of services and products for British, Portuguese and other international customers in defence and security markets, booked an unrealised gain of £558,000. This mirrored profit upgrades, contract renewals and strong financial results. This momentum has continued post period end.

As at 17 December 2024, the valuation of the Quoted Growth portfolio had decreased by £226,000 (-1.7%).

IBP Capital Markets Limited
As noted in the Annual Report, the Company recovered c.80% of its total Quoted Growth portfolio on 19 July 2024, with the remaining c.20% to be recovered following court proceedings, currently anticipated to take place in the second half of 2025. Up until July, the ability to trade the portfolio continued to be restricted and hence there has been limited ability to manage exposures within the portfolio. The Company is now able to trade its positions, having been unable to do so since October 2023.

Post-period end activity
Post period end, ahead of the Budget, shares were sold in 14 of the Company’s Quoted Growth portfolio holdings. Notably, holdings in Anpario plc and Craneware plc were reduced, as well as in Impact Healthcare REIT plc, a non-qualifying holding. As previously communicated to Shareholders, the strategy going forward is to realise the Quoted Growth portfolio over time, which will free up funds to be redeployed into Unquoted Growth holdings.

Outlook
A number of the Quoted Growth companies in the portfolio have been consistently overoptimistic about hitting milestones for product development, revenues and ultimately profits. Given competition for capital amongst the wider portfolio of venture capital holdings, Foresight took the difficult decision to reduce a number of these positions. Achieving a total sale of individual holdings has not been possible, given that 20% of the Company’s Quoted Growth assets are still tied up in the custodian IBP Capital Markets Limited (“IBP”), which remains in special measures. While this is frustrating, as it does not allow portfolio management to be conducted across the entire portfolio should changes need to be made, we are able to make them to substantially all of the holdings.

The Quoted Growth holdings have reduced as a percentage of the Company’s total assets, but we firmly believe that by making these changes we have increased the overall quality and see an encouraging future, despite an uncertain macroeconomic background.

Downing LLP and Foresight Group LLP
20 December 2024

UNAUDITED HALF-YEARLY RESULTS AND RESPONSIBILITIES STATEMENTS

Principal risks and uncertainties
The principal risks faced by the Company are as follows:

Investment performance
Regulatory
Operational
Economic, political and other external factors

The Board reported on the principal and emerging risks and uncertainties faced by the Company in the Annual Report and Accounts for the year ended 31 March 2024. A detailed explanation can be found on pages 26 to 28 of the Annual Report and Accounts, which is available on the Investment Adviser’s website www.foresightgroup.eu/products/foresight-ventures-vct-plc or by writing to Foresight Group at The Shard, 32 London Bridge Street, London SE1 9SG.

In the view of the Board, there have been no changes to the fundamental nature of these risks since the previous report and these principal risks and uncertainties are equally applicable to the remaining six months of the financial year as they were to the six months under review.

Directors’ responsibility statement
The Disclosure and Transparency Rules (“DTR”) of the UK Listing Authority require the Directors to confirm their responsibilities in relation to the preparation and publication of the Half-Yearly Financial Report.

The Directors confirm to the best of their knowledge that:

   a)   The summarised set of financial statements has been prepared in accordance with FRS 104
   b)   The interim management report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year)
   c)   The summarised set of financial statements gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Company as required by DTR 4.2.4R
   d)   The interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties’ transactions and changes therein)

Going concern
The Company’s business activities, together with the factors likely to affect its future development, performance and position, are set out in the Strategic Report of the Annual Report. The financial position of the Company, its cash flows, liquidity position and borrowing facilities are described in the Chair’s Statement, Strategic Report and Notes to the Accounts of the 31 March 2024 Annual Report. In addition, the Annual Report includes the Company’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments; and its exposures to credit risk and liquidity risk.

The Company has adequate financial resources at the period end and holds a diversified portfolio of investments. As a consequence, the Directors believe that the Company is well placed to manage its business risks successfully.

The Directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the half-yearly financial statements.

The Half-Yearly Financial Report has not been audited nor reviewed by the auditors.

On behalf of the Board

Atul Devani
Chair

20 December 2024

UNAUDITED INCOME STATEMENT
For the six months ended 30 September 2024

	Six months ended 30 September 2024 (Unaudited)			Six months ended 30 September 2023 (Unaudited)			Year ended 31 March 2024 (Audited)


	Revenue	Capital	Total	Revenue	Capital	Total	Revenue	Capital	Total
	£’000	£’000	£’000	£’000	£’000	£’000	£’000	£’000	£’000
Realised gains/(losses) on investments	—	2,202	2,202	—	(5,203)	(5,203)	—	(8,015)	(8,015)
Investment holding (losses)/gains	—	(10,311)	(10,311)	—	1,028	1,028	—	3,465	3,465
Income	4,187	—	4,187	1,065	—	1,065	906	—	906
Investment management fees	(404)	(404)	(808)	(449)	(449)	(898)	(863)	(863)	(1,726)
Other expenses	(482)	—	(482)	(376)	—	(376)	(1,346)	—	(1,346)
Return/(loss) on ordinary activities before taxation	3,301	(8,513)	(5,212)	240	(4,624)	(4,384)	(1,303)	(5,413)	(6,716)
Taxation	—	—	—	(24)	24	—	—	—	—
Return/(loss) on ordinary activities after taxation	3,301	(8,513)	(5,212)	216	(4,600)	(4,384)	(1,303)	(5,413)	(6,716)
Return/(loss) per share	1.9p	(4.8)p	(2.9)p	0.1p	(2.5)p	(2.4)p	(0.7)p	(3.1)p	(3.8)p

The total columns of this statement are the profit and loss account of the Company and the revenue and capital columns represent supplementary information.

All revenue and capital items in the above Income Statement are derived from continuing operations. No operations were acquired or discontinued in the period.

The Company has no recognised gains or losses other than those shown above, therefore no separate statement of total recognised gains and losses has been presented.

The Company has only one class of business and one reportable segment, the results of which are set out in the Income Statement and Balance Sheet.

There are no potentially dilutive capital instruments in issue and, therefore, no diluted earnings per share figures are relevant. The basic and diluted earnings per share are, therefore, identical.

UNAUDITED RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS’ FUNDS
For the six months ended 30 September 2024

	Called-up	Share premium	Capital redemption	Special	Capital	Revaluation	Revenue
	share capital	account	reserve	reserve	reserve	reserve	reserve	Total
	£’000	£’000	£’000	£’000	£’000	£’000	£’000	£’000
As at 1 April 2024	1,775	2,522	71	86,901	(10,791)	6,057	(4,619)	81,916
Share issues in the period	7	301	—	—	—	—	—	308
Expenses in relation to share issues	—	(46)	—	—	—	—	—	(46)
Repurchase of shares	(55)	—	55	(2,340)	—	—	—	(2,340)
Realised gains on disposal of investments	—	—	—	—	2,202	—	—	2,202
Investment holding losses	—	—	—	—	—	(10,311)	—	(10,311)
Dividends paid	—	—	—	—	(1,953)	—	—	(1,953)
Management fees charged to capital	—	—	—	—	(404)	—	—	(404)
Revenue return before taxation for the period	—	—	—	—	—	—	3,301	3,301
Taxation for the period	—	—	—	—	—	—	—	—
As at 30 September 2024	1,727	2,777	126	84,561	(10,946)	(4,254)	(1,318)	72,673

Distributable reserves at 30 September 2024 total £51,490,000 (31 March 2024: £58,151,000).

UNAUDITED BALANCE SHEET
As at 30 September 2024

Registered number: 03150868

	As at	As at	As at
	30 September	30 September	31 March
	2024	2023	2024
	(Unaudited)	(Unaudited)	(Audited)
	£’000	£’000	£’000
Fixed assets
Investments held at fair value through profit or loss	57,746	65,871	67,393
Current assets
Debtors	8,467	7,393	7,570
Cash and cash equivalents	7,097	13,580	7,559
Total current assets	15,564	20,973	15,129
Creditors
Amounts falling due within one year	(637)	(1,077)	(606)
Net current assets	14,927	19,896	14,523
Net assets	72,673	85,767	81,916
Capital and reserves
Called-up share capital	1,727	1,770	1,775
Share premium account	2,777	2,252	2,522
Capital redemption reserve	126	71	71
Special reserve	84,561	85,122	86,901
Capital reserve	(10,946)	(5,627)	(10,791)
Revaluation reserve	(4,254)	3,619	6,057
Revenue reserve	(1,318)	(1,440)	(4,619)
Equity shareholders’ funds	72,673	85,767	81,916
Net Asset Value per share	42.1p	48.5p	46.1p

UNAUDITED CASH FLOW STATEMENT
For the six months ended 30 September 2024

	Six months ended	Six months ended	Year ended
	30 September	30 September	31 March
	2024	2023	2024
	(Unaudited)	(Unaudited)	(Audited)
	£’000	£’000	£’000
Cash flow from operating activities
Loss on ordinary activities after taxation	(5,212)	(4,384)	(6,716)
Loss on investments	8,109	4,175	4,550
Increase in debtors	(1,768)	(891)	(1,134)
Increase in creditors	59	82	304
Net cash inflow/(outflow) from operating activities	1,188	(1,018)	(2,996)
Cash flow from investing activities
Purchase of investments	(1,125)	(2,209)	(4,394)
Net proceeds on sale of investments	2,917	3,295	3,433
Net proceeds on deferred consideration	543	419	637
Net cash inflow/(outflow) from investing activities	2,335	1,505	(324)
Cash flows from financing activities
Proceeds of fundraising	—	1,586	1,585
Expenses of fundraising	—	(7)	(7)
Repurchase of own shares	(2,340)	(2,270)	(2,964)
Equity dividends paid	(1,645)	(1,498)	(3,017)
Net cash outflow from financing activities	(3,985)	(2,189)	(4,403)
Net outflow of cash in the period	(462)	(1,702)	(7,723)
Reconciliation of net cash flow to movement in net funds
Decrease in cash and cash equivalents for the period	(462)	(1,702)	(7,723)
Net cash and cash equivalents at start of period	7,559	15,282	15,282
Net cash and cash equivalents at end of period	7,097	13,580	7,559

Analysis of changes in net debt

	As at 1 April 2024 £’000	Cash flow £’000	At 30 September 2024 £’000


Cash and cash equivalents	7,559	(462)	7,097

NOTES TO THE UNAUDITED HALF-YEARLY RESULTS
For the six months ended 30 September 2024

1
The Unaudited Half-Yearly Financial Report has been prepared on the basis of the accounting policies set out in the statutory accounts of the Company for the year ended 31 March 2024. Unquoted investments have been valued in accordance with IPEV Valuation Guidelines.

2
These are not statutory accounts in accordance with s436 of the Companies Act 2006 and the financial information for the six months ended 30 September 2024 and 30 September 2023 has been neither audited nor formally reviewed. Statutory accounts in respect of the year ended 31 March 2024 have been audited and reported on by the Company’s auditor and delivered to the Registrar of Companies and included the report of the auditor which was unqualified and did not contain a statement under s498(2) or s498(3) of the Companies Act 2006. No statutory accounts in respect of any period after 31 March 2024 have been reported on by the Company’s auditor or delivered to the Registrar of Companies.

3
Copies of the Unaudited Half-Yearly Financial Report will be sent to Shareholders via their chosen method and will be available for inspection at the Registered Office of the Company at The Shard, 32 London Bridge Street, London SE1 9SG.

4 Net Asset Value per share
The Net Asset Value per share is based on net assets at the end of the period and on the number of shares in issue at the date.

		Number of shares
	Net assets	in issue
30 September 2024	£72,673,000	172,715,260
30 September 2023	£85,767,000	176,968,887
31 March 2024	£81,916,000	177,546,529

5 Return per share
The weighted average number of shares used to calculate the respective returns are shown in the table below.

	Number of shares
Six months ended 30 September 2024	176,320,908
Six months ended 30 September 2023	179,310,912
Year ended 31 March 2024	178,234,061

Earnings for the period should not be taken as a guide to the results for the full year.

6 Income

	Six months ended	Six months ended	Year ended
	30 September	30 September	31 March
	2024	2023	2024
	£’000	£’000	£’000
Income from investments
Loan stock interest	240	920	424
Dividend income	3,827	145	415
	4,067	1,065	839
Other income	120	—	67
	4,187	1,065	906

7 Investments held at fair value through profit or loss

	Unquoted Growth investments £’000	Unquoted Yield Focused investments £’000	Quoted Growth investments £’000	Total £’000



Book cost at 1 April 2024	39,760	13,651	23,241	76,652
Investment holding losses at 1 April 2024	(3,374)	(751)	(5,134)	(9,259)
Valuation at 1 April 2024	36,386	12,900	18,107	67,393
Movements in the period:
Purchases	1,125	—	—	1,125
Disposal proceeds	—	(2,917)	—	(2,917)
Realised (losses)/gains on disposals¹	(775)	2,360	—	1,585
Foreign exchange losses	(669)	—	—	(669)
Investment holding losses²	(1,554)	(2,473)	(4,744)	(8,771)
Valuation at 30 September 2024	34,513	9,870	13,363	57,746
Book cost at 30 September 2024	40,110	13,094	23,241	76,445
Investment holding losses at 30 September 2024	(5,597)	(3,224)	(9,878)	(18,699)
Valuation at 30 September 2024	34,513	9,870	13,363	57,746

Realised gains on investments in the Income Statement include realised gains relating to deferred consideration receipts totalling £617,000 from StorageOS Inc (£419,000), Efundamentals Group Limited (£96,000), Firefly Learning Limited (£74,000), DIA Imaging Analysis Limited (£14,000) and Imagen Limited (£14,000).
Investment holding losses in the Income Statement include unrealised losses which are a result of the deferred consideration debtor decrease of £871,000. The debtor movement reflects the recognition of amounts receivable in respect of DIA Imaging Analysis Limited (£45,000) and Firefly Learning Limited (£8,000), offset by receipts in respect of StorageOS Inc (£419,000), Efundamentals Group Limited (£96,000), Firefly Learning Limited (£74,000), Imagen Limited (£14,000) and DIA Imaging Analysis Limited (£14,000). Amounts were previously recognised as receivable but written down at 30 September 2024 in respect of Efundamentals Group Limited (£295,000), JRNI Limited (£8,000) and Imagen Limited (£4,000).

8 Contingencies, guarantees and financial commitments
As outlined in note 17 to the Annual Report and Accounts for the year ended 31 March 2024, the Company has used IBP Capital Markets Limited (“IBP”) as custodian for its quoted investments since September 2020. Appointing a custodian is a requirement of the FCA; IBP is an FCA authorised and regulated wholesale broker, providing custody services and access to equity and fixed income securities for non-retail clients (which includes the Company). On 13 October 2023, the FCA published a supervisory notice under section 55L(3)(a) of the Financial Services and Markets Act 2000, imposing certain restrictions on IBP. On the same date, IBP applied to the High Court and special administrators were appointed.

During the period since, the Investment Adviser has been actively collaborating with the special administrators to reach a resolution, which has involved reconciling quoted stocks held with IBP (“Custody Assets”) and cash held with IBP (“Client Money”). As at 13 October 2023, the Company held Client Money of £1.1 million (1.2% of indicative NAV on the same date), and Custody Assets of £16.9 million (19.5% of indicative NAV on the same date).

With regard to Custody Assets, whilst the final outcome remains subject to change, particularly as additional claims may be made, there have so far been two differences of value identified, together totalling a variance of £0.28 million, which was provided for at 31 March 2024. It was announced on 17 May 2024 that the special administrators would be making an interim distribution of 80% of eligible Custody Assets, and the transfer of these to the new custodian completed on 19 July 2024. The Company is now able to trade these assets on the quoted market. The remaining 20% withheld will be distributed as part of a Final Court Approved Distribution Plan, unless additional claims are made resulting in a break.

With regard to Client Money, a progress report was released on 12 April 2024 which identified a potential 44% cash shortfall equating to £0.46 million of Client Money held by the Company which was provided for at 31 March 2024. Any further deduction for fees relating to the special administration process is unknown at this point, but from the information available these are anticipated to be in the region of £0.14 million payable by the Company. These fees were accrued for as at 31 March 2024 and there has been no further adjustment to this estimate. The total potential exposure based on information available to date is therefore currently estimated to be £0.88 million, representing 1.2% of NAV at 30 September 2024.

As noted, the outcome remains subject to change with the final distribution plan being shared following the court proceedings. Timing of this is currently anticipated to take place in the second half of 2025. The Company will communicate with Shareholders if there is any new information which materially impacts the numbers presented in this report.

9 Related party transactions
No Director has an interest in any contract to which the Company is a party other than their appointment and payment as Directors.

10 Transactions with the Investment Adviser
Details of arrangements with Foresight Group LLP are given in the Annual Report and Accounts for the year ended 31 March 2024, in the Directors’ Report and notes 4 and 5. All arrangements and transactions were on an arm’s length basis.

Foresight Group LLP was appointed as Investment Adviser on 4 July 2022 and earned fees of £808,000 during the period to 30 September 2024 (30 September 2023: £898,000; 31 March 2024: £1,726,000).

Foresight Group LLP is the Company Secretary (appointed on 1 September 2023) and received, for accounting and company secretarial services, fees of £75,000 during the period to 30 September 2024 (30 September 2023: £80,000; 31 March 2024: £156,000).

At the balance sheet date there was £nil due to Foresight Group LLP (30 September 2023: £nil; 31 March 2024: £nil).

11 Post-balance sheet events
On 5 November 2024, the Company purchased for cancellation 2,197,967 ordinary shares of 1p at a gross price of 42.37p per share.

On 15 November 2024, the Company merged with Thames Ventures VCT 2 plc (“TV2”). A total of 86,637,164 shares in the Company were issued to TV2 shareholders at the price of 42.629237024071200p per share. Following this allotment, the Company redesignated 147,531,473 of its issued ordinary shares as deferred shares, which were immediately repurchased and cancelled in order to re-base the NAV per share of each of ordinary share to 100.0p.

A copy of the Unaudited Half-Yearly Financial Report will be submitted to the National Storage Mechanism in accordance with UK Listing Rules (“UKLR”)11.4.1 / UKLR 6.4.1 and UKLR 6.4.3.

END

For further information, please contact:

Company Secretary
Foresight Group LLP
Contact: Stephen Thayer Tel: 0203 667 8100

Investor Relations
Foresight Group LLP
Contact: Andrew James Tel: 0203 667 8181

The MIL Network –

January 27, 2025

MIL-OSI USA: Three Business Students Attend Top International Climate Conference: A Once-In-A-Lifetime Experience

Source: US State of Connecticut

Junior Chapal Bhavsar is interested in big, sustainable-technology projects, including the creation of climate-friendly power plants, and is eager to use his finance knowledge to find ways to fund their construction.

As one of 14 UConn students, and five faculty and staff, to attend the United Nation’s Climate Change Conference (COP 29) in Baku, Azerbaijan last month, Bhavsar met many people—including some international power figures—who share his ideology.

“At COP, I wanted to connect with people in the business space. I went in with an open mind and was happy to talk to anyone. I was in the room with the Minister of Energy of Azerbaijan and with a Saudi delegation working on a clean-energy pipeline. It was fascinating to talk about how financing is changing in the sector, with private industry replacing government entities to advance these projects.’’

“Perhaps the highlight was being able to connect with the U.S. Ambassador to Azerbaijan, Mark Libby,’’ Bhavsar said. “He’s from Southbury and I grew up in Danbury, so we had that in common. I was excited to connect with someone who is so key in the climate-protection movement, a top guy who is very successful. He invited us to a roundtable where he answered all kinds of questions.’’

Bhavsar was joined by two other UConn business students, senior Jackie Flaherty, who is majoring in marketing and urban and community studies and minoring in geographic information science; and senior Naiiya Patel, who is studying accounting, with minors in philosophy, and social responsibility and impact in business. All three are members of the UConn Honors program.

‘Committed to Purposeful Change’

Arminda Kamphausen, director for Global & Sustainability Initiatives at the School of Business, said the COP 29 conference offered students an extraordinary experience. UConn business students have been participating since 2021.

“This once-in-a-lifetime experience ticks all the boxes: international travel, cultural awareness, and growth through exposure to and interaction with critical real-world issues,’’ she said. “The conversations I have had with these students since their return underscores the importance of experiential learning to a complete education. I am so glad we prioritize that here at the UConn School of Business.’’

“The conversations also reinforce my hope in this generation of young people who are committed to purposeful change and positive impact. Experiences like this give them the tools they need to do just that,’’ she said.

Kamphausen said the UConn Office of Sustainability deserves credit for its work to make this adventure happen, and particularly for its ability to arrange for our students to enter the exclusive arena where the most meaningful negotiations occur.

Sustainable Initiatives That Could Apply to Gampel

Patel enjoyed the conference and said one of the highlights for her was having the opportunity to meet the former President of Finland, Tarja Halonen. She told Halonen how much she enjoyed her presentation on the importance of a greener future and need to act decisively.

“It was very cool; I never expected to meet someone so important,’’ Patel said.

Patel said she arrived at COP 29 thinking that she would focus on youth impact and teaching, but found many other interests there as well.

“The themes covered so many fascinating topics from water security to biodiversity to transportation and tourism. It felt so cool because so much of it could be applied right here at UConn,’’ she said.

Patel was intrigued by a presentation from an executive with the Liverpool soccer team, who talked about initiatives to keep the facility and the patron experience more sustainable and climate friendly.

“I thought it would be a great match at UConn and perhaps we could adopt some of those ideas at Gampel,’’ she said. “It was an interesting conference and I didn’t expect that much access to information nor to be around so many important people. Every day there were new panels and an amazing schedule of events. I loved the freedom to seek the information that was of most interest to me.’’

Patel’s professional interests include business, sustainability and education. She hopes to work for one of the Big 4 accounting firms, and said having knowledge about climate-change initiatives will be an advantage in securing her first job and advancing in the industry.

Flaherty Built New Network of Friends, Colleagues

Flaherty has worked in the Office of Sustainability in various capacities since she came to UConn.

“My interest began senior year in high school when I took environmental science and human geography courses,’’ she said. “I really enjoy both communicating information and working with people.’’

The trip to COP 29 was particularly enjoyable for Flaherty, who hasn’t traveled extensively. She loved both the food and the people. “I also enjoyed meeting representatives from around the world and hearing their perspectives,’’ she said.

She hopes to work in sustainable urban planning or communications following graduation.

“This will be such a nice experience to talk about in my future career. I’m so grateful to UConn to have offered this opportunity. It is so important going forward in my career to have had this experience,’’ she said. “I also found a great new network of UConn friends to build both professional relationships and friendships.’’

One of the things that surprised her was seeing oil companies and other lobbyists at the event.

Flaherty and her peers both wished that the conference had generated more substantial change, as the 2015 COP agreement did, resulting in the Paris Agreement. But only about 20 percent of the original finance goals were adopted at the conference.

“At first, I was very disappointed in the outcome. But now I think it is important to focus on what we can do in our communities and to push local leaders to advocate and pressure for national initiatives and investments,’’ Flaherty said.

“Regardless of some frustrations, it was a once-in-a-lifetime experience to be able to interact with people from around the world and it was tremendously eye-opening,’’ she added.

Bhavsar, a Fulbright scholar with a particular interest in banking and analyst roles, said he still felt optimistic after the event. “Its important that we make progress. It can always be better but it is a big step to make and build connections,’’ he said. “I think these nations are on the right track and moving in the right direction.’’

Bhavsar said he will long remember the people he met at the conference and in the country, visiting a palace, a fire temple, a mosque and exploring Baku.

“UConn support helped us attend COP but also have a tremendous cultural experience as well,’’ he said. “I met one guy who went home and got his brother, who spoke English and could translate for us. We all went out for tea! The Azerbaijani people are very, very nice.’’

MIL OSI USA News –

January 27, 2025
MIL-OSI United Nations: Syria transition may fail if support lifeline is delayed, says IOM chief

Source: United Nations 4

20 December 2024 Humanitarian Aid

The head of the UN migration agency stressed on Friday that Syria is in no position to take back millions of Syrians following the fall of the Assad regime, while there is an urgent need to “re-evaluate” sanctions impacting the war-ravaged country.

“We are not promoting large-scale returns; the communities frankly are just not ready to absorb the people who are displaced and would come home…it will overwhelm the country,” said Amy Pope, Director General of the International Organization for Migration (IOM). “Many have returned to find their find their homes reduced to rubble,” she noted.

Speaking in Geneva shortly after returning from Damascus where she held talks with representatives of the caretaker authorities, Ms. Pope described how 14 years of war had destroyed “hospitals, schools, community centres” and much else.

“Rebuilding homes is just one part of the solution, but [Syrians] also need access to healthcare and essential services to feel secure and lay the foundations for recovery.”

More than half of Syria’s population has been displaced, some 16.7 million people need humanitarian assistance and well over six million Syrian refugees have sought shelter abroad.

‘Enormous’ need for funds

“The needs for funding – both financial resources, political resources – are going to be enormous,” Ms. Pope continued, confirming that IOM “will be part of any effort to help address the situation there”, including potentially at an upcoming Syria reconstruction conference planned by the French Government in January.

And yet the task of rebuilding and investing in Syria following the overthrow of the Assad regime by Hayat-Tahrir al-Sham (HTS) fighters and others, remains complicated by sanctions imposed by the United States and the European Union, following the violent repression of pro-democracy protests in 2011 that escalated into civil war.

On Thursday, UN Secretary-General António Guterres appealed for international solidarity with Syrians “until conditions are met for all sanctions to be removed” by the Member States that imposed them, while also insisting on the urgent need to deliver humanitarian aid and support efforts to rebuild the economy.

Echoing that appeal, IOM’s Ms. Pope described the impact of sanctions in Syria, where “people do not have access to cash…they do not have access to credit”.

Goods are exchanged rather than purchased and salaries “are extremely low and often insufficient to meet their most basic of needs…So, to rebuild the situation, there will be a need to re-evaluate those sanctions.”

Human rights must be paramount

Also briefing in Geneva, UN human rights office (OHCHR) spokesperson Thameen Al-Kheetan insisted that “whoever is in power, the obligations of the States remain the same, and that is protection of all human rights for all Syrians. When it comes to sanctions, it is important that any sanctions imposed by any party take into consideration the importance of humanitarian aid for the civilians. This should not be affected in any way.”

Providing insight into her high-level meetings in Damascus, Ms. Pope described a “sense of openness” to the international community and a willingness to engage with it – a message that was “echoed throughout by all members of the caretaker government to all parties, whether they were other members of the diplomatic corps or other members of the UN family”.

Mass poverty

IOM has been unable to operate in Syria since 2018. Today, more than 90 per cent of Syrians live below the poverty line and 800,000 people have been newly displaced in recent weeks, presenting a massive new humanitarian emergency.

“Frankly, across the board we’ve had some pretty serious challenges meeting those humanitarian needs, largely because of the barriers put in place by the Assad government, but also because of the ongoing conflict,” Ms. Pope explained, in reference to ongoing clashes across Syria.

Important as immediate relief aid is for Syria, the IOM chief said that it should be accompanied by a “stabilizing” of the situation in Syria.

This would need to involve “justice, reparation and inclusivity”, she said, but also housing, land and property rights that are “key and at the heart of community stabilization in the context of the returns that we anticipate”.

Healthcare in peril

Meanwhile, echoing deep concerns over the scale of needs and “tremendous hardships” that Syrians still face, the UN World Health Organization (WHO) launched an appeal on Friday to raise $56.4 million over the next six months.

Displaced communities continue to live in overcrowded conditions in formal camps and shelters, with too little to eat and succumbing to respiratory infections and other communicable diseases including diarrhoea and scabies, warned Dr. Christina Bethke, Acting WHO Representative in Syria.

Speaking from Damascus, Dr. Bethke described one WHO assessment team’s mission to Idlib in the northwest of the country. They spoke to “dedicated surgeons who have worked tirelessly during this escalation over the last three weeks, often under attack and in order to save lives. One surgeon shared the words of these patients, saying, ‘We finally sleep at night, no longer worrying about being bombarded.’”

Funding for WHO’s appeal will sustain critical health services during the transition period, including 141 health facilities in northwest Syria that are at risk of “imminent closure in the coming weeks”, owing to a lack of resources.

“The health infrastructure is severely strained and we saw in just three weeks during this escalation 36 attacks on health care have been reported and over half the country’s hospitals are non-functional,” Dr. Bethke said.

Soundcloud

MIL OSI United Nations News –

January 27, 2025
MIL-OSI Canada: Multi-Year Infrastructure Investment Strategy Details Roadmap to Improved Highways, Airports and Water Infrastructure for Manitobans
Source: Government of Canada regional news

December 20, 2024

Multi-Year Infrastructure Investment Strategy Details Roadmap to Improved Highways, Airports and Water Infrastructure for Manitobans

New Infrastructure Investment Strategy Will Support Manitoban Economy and Transportation Needs: Naylor

The Multi-year Infrastructure Investment Strategy, which outlines planned capital investments for highway, airport, water-related and general infrastructure over the next five years, is now available, Transportation and Infrastructure Minister Lisa Naylor announced today.

“Building the Manitoba of tomorrow starts with this new visionary plan,” said Naylor. “The Infrastructure Investment Strategy outlines our government’s priorities in connecting Manitobans across the province for years to come. Many of these projects will improve road safety, ensuring families can travel safely while also creating new opportunities to expand our economy and create thriving businesses and jobs.”

The strategy provides a comprehensive overview of the Department of Transportation and Infrastructure’s project priorities through to 2029 to improve transparency and provide advance notice to stakeholders and rightsholders, while still providing flexibility to accommodate emerging issues, the minister noted.

Some multi-year project highlights include:
- twinning of Trans-Canada Highway from five kilometres (km) west of Provincial Road (PR) 301 to the Ontario boundary to improve public safety and support trade through this major corridor;
- interchange construction on the south Perimeter Highway at McGillivray Boulevard and St. Anne’s Road as part of the Perimeter Freeway Initiative;
- projects on PTH 75 including a structure renewal at Morris River 0.6 km north of PTH 23 and surface reconstruction from 6.6 km north of PTH 14 to 3.4 km south of PTH 23;
- $600 million, conditional on a memorandum of understanding, to enhance flood protection to communities in the Lake Manitoba-Lake St. Martin area and to strengthen Manitoba’s existing network of flood mitigation infrastructure;
- progress toward construction of a new airport at Wasagamack Airport;
- continued work toward construction of a bridge at Sea Falls;
- intersection improvements on Trans-Canada Highway at Provincial Trunk Highway (PTH) 5; and
- surface reconstruction on PTH 6 from 0.6 km south of PR 239 to Fairford River.
“We’re pleased to see the Manitoban government outline a strong commitment to improve the infrastructure that keeps Manitobans moving, as we know the importance of our roads, bridges and flood protection systems to creating a strong economy,” said Chris Lorenc, president and CEO, Manitoba Heavy Construction Association. “A five-year plan ensures we’re able to meet the demands required by these important projects and we look forward to advancing Manitoba as a transportation hub not just in Canada, but across the continent.”

Projects outlined within this document are organized to reflect projects under four strategic investment categories: infrastructure renewal, economic development, climate resiliency and connectivity and innovation. These investments will strengthen and complement projects under ongoing initiatives such as the Trade and Commerce Grid Initiative, Perimeter Freeway Initiative, and Enhancing National Trade Corridors Strategy, noted the minister.

These investments also build on previously announced projects such $30 million to build a northern corridor to the Port of Churchill to export resources to reflect the Manitoba government’s goal of making Manitoba an inter-continental trade gateway, a commitment of $15 million over several years for the capital redevelopment of the Thompson airport and continued support for the development of the CentrePort Canada Rail Park.

To read the Multi-year Infrastructure Investment Strategy, visit: www.gov.mb.ca/mti/myhis/pdf/2024_multi-year_infrastructure_investment_strategy.pdf.

– 30 –

MIL OSI Canada News –
January 27, 2025
MIL-OSI Security: Two Maryland Men Indicted For Unemployment Insurance Fraud Scheme Of More Than $1,000,000

Source: Office of United States Attorneys

Defendants Allegedly Committed Aggravated Identity Theft by Using Identities of Victims in Connection with a Scheme to Wrongfully Obtain More than $1,000,000 in Unemployment Insurance Benefits

Baltimore, Maryland – A federal grand jury has returned an indictment charging two Maryland men on federal charges related to a scheme to fraudulently obtain more than $1 million in unemployment insurance benefits. On February 1, 2024, a grand jury returned a sealed indictment of Daiwor Woah-Tee, age 51, of Belcamp, Maryland, and Dekwii Woah-Tee, age 46, of Rosedale, Maryland with conspiracy to commit wire fraud, and one count of aggravated identity theft, respectively, relating to a scheme to obtain more than $1,000,000 in unemployment insurance benefits. The indictment was unsealed upon the arrest of the defendants.

The defendants had an initial appearance on December 18, 2024, in the U.S. District Court in Baltimore before U.S. Magistrate Judge Charles Austin.

The indictment was announced by Erek L. Barron, U.S. Attorney for the District of Maryland, Special Agent in Charge Troy W. Springer of the Department of Labor Office of Inspector General, Office of Investigations for the National Capital Region (DOL-OIG), and Inspector General Dr. Joseph V. Cuffari, Department Homeland Security – Office of Inspector General (DHS-OIG).

As detailed in the indictment, unemployment insurance (“UI”) was a joint state and federal program that provided monetary benefits to eligible beneficiaries. UI payments were intended to provide temporary financial assistance to lawful workers who were unemployed through no fault of their own. Beginning in or around March 2020, in response to the COVID-19 pandemic, several federal programs expanded UI eligibility and increased UI benefits, including the Pandemic Unemployment Assistance Program (PUA), Federal Pandemic Unemployment Compensation (FPUC), and the Lost Wages Assistance Program (LWAP).

In Maryland, those seeking UI benefits submitted online applications. Applicants had to answer specific questions to establish eligibility to receive UI benefits, including their name, Social Security Number (SSN), and mailing address, among other things. Applicants also had to self-certify that they met a COVID-19-related reason for being unemployed, partially employed, or unable to work. Maryland Department of Labor (MD-DOL) relied upon the information in the application to determine UI benefits eligibility. Once an application was approved, the MD-DOL typically distributed state and federal UI benefits electronically to a debit card, which claimants could use to withdraw funds and/or make purchases.

As alleged in the indictment, from March 2020 to September 2021, the defendants conspired to commit wire fraud defrauding State Workforce Agencies (SWA), including the MD-DOL, by impersonating victim individuals for the purpose of submitting fraudulent claims for unemployment insurance. The defendants used victim personal identifying information (PII), including name, date of birth, and/or SSN submit applications for UI benefits. The UI benefits obtained through the scheme was more than $1,000,000.

If convicted, the defendants face a maximum sentence of 20 years in federal prison for wire fraud conspiracy and aggravated identity theft carries a mandatory minimum sentence of two years in prison that runs consecutive to any other sentence. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

An indictment is not a finding of guilt. An individual charged by indictment is presumed innocent unless and until proven guilty at some later criminal proceedings.

The District of Maryland Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud, including fraud relating to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic. The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors. The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus. Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

U.S. Attorney Barron commended the DOL-OIG, DHS-OIG, and IRS-CI for its work in the investigation. Mr. Barron thanked Assistant U.S. Attorney John D’Amico and Special Assistant U.S. Attorney Jared W. Murphy, who are prosecuting the federal case.

For more information on the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

# # #

MIL Security OSI –

January 27, 2025
MIL-OSI Global: Christmas can be stressful for many people – here’s what can help you get through the festive season

Source: The Conversation – UK – By Jolel Miah, Senior Lecturer, Health Psychology, University of Westminster

Stress during the holidays doesn’t have to be inevitable. Kaspars Grinvalds/ Shutterstock

Christmas is a season of joy and togetherness. But for many, it’s also one of the most stressful times of the year.

Stress arises from an imbalance between the demands placed on us and our ability to cope with those demands. Psychologically, stress is linked to how we cope in situations – and whether we view them as challenging, threatening or manageable. The more challenging or threatening we see a situation to be, the more likely we are to feel stressed out.

It makes sense, then, that Christmas is such as stressful time of year for many.

The pressure to make the holidays “perfect”, spending more money than we perhaps should to fulfil expectations, the struggle to balance work and study commitments with holiday shopping, decorating and socialising can leave us feeling overwhelmed and exhausted.

For others, Christmas highlights feelings of loneliness, grief or estrangement from loved ones. The season can be a painful reminder of lost relationships, financial hardships, or unmet life goals – and this can amplify feelings of inadequacy or sadness.

Family visits can also bring tension as we’re forced to interact with relatives whose views or habits may clash – leading to conflicts or rehashing unresolved disputes.

But while some stress during the holidays is inevitable, there are many things you can do to cope – and even prevent this stress in the first place.

Plan ahead

When our brains know what to expect, they require less energy to find solutions. This makes it easier to navigate any challenges we may face. And by planning or thinking ahead, it allows us to take control of our thoughts and minimise potential stressors.

Before the holidays roll around, try spending time thinking about things which tend to be sources of stress to you – and make a plan for how you prevent this stress.

For instance, if cooking Christmas dinner is a source of stress for you, perhaps making a list of specific tasks you can delegate to certain family members will help take some of the pressure off of you.

Set boundaries

It’s important to learn to say “no”, rather than agreeing to everything that might be asked of you. Understanding and respecting your own boundaries will help you allocate your time and resources more effectively – reducing stress.

This skill takes time to develop but can significantly benefit your long-term wellbeing. The more confident we become in our abilities to manage the challenges we face, the better we become at setting boundaries – ultimately becoming better at managing stress.

Some boundaries you might set at Christmas could include setting a budget limit for presents so you aren’t stressed about over-spending or limiting the number of social engagements you attend so you don’t get burnt out.

Manage expectations

It’s important to recognise that not everything is within your control. While there are many things you can plan and prepare for at Christmas, there are just as many things that are out of your hands. For example, you can’t control the way other people may behave at your Christmas dinner, or the way someone may react to a present you’ve bought them.

Setting realistic expectations for the holidays and accepting there are things you just can’t control is key in managing stress levels.

Take time to reflect

Another helpful way to manage holiday stress is to pause and connect with your feelings.

Writing down your thoughts may help alleviate stress.
Ground Picture/ Shutterstock

Write down your thoughts on a piece of paper. Then pause and really think about how your feel. Giving your brain a moment to process what’s happening can help you moderate your feelings. Keeping a journal can help improve your thoughts and mood, offering a constructive outlet for emotions.

If you’re finding it difficult to get on with friends and family during the holidays, pause before reacting or saying something you might not mean. This will help you get your emotions under control and may help to reduce your stress.

Coping after the holidays

Some people may experience low mood after the holidays – often termed the “post-festive blues” or “post-holiday blues”.

Read more:
Why do we feel so ‘blah’ after Christmas?

The holiday season often brings a mix of joy and stress, creating emotional highs that leave our bodies feeling drained and exhausted once it’s over. It’s important to recognise that these feelings are a natural response to the demands of the festive period – not a reflection of personal inadequacy. Taking the time to acknowledge and accept that our bodies and minds are simply recovering is a crucial step toward moving forward positively.

There are many strategies you can use to manage these post-holiday blues. Activities such as regular exercise, setting realistic and achievable goals, and reconnecting with others can significantly improve our mood and boost “happy hormones” such as endorphins.

By consciously planning ways to re-energise and stay connected, we can shift our focus from any lows we may have experienced over the holidays to a more balanced perspective as we step into the new year.

Jolel Miah 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. Christmas can be stressful for many people – here’s what can help you get through the festive season – https://theconversation.com/christmas-can-be-stressful-for-many-people-heres-what-can-help-you-get-through-the-festive-season-246097

MIL OSI – Global Reports –

January 27, 2025
MIL-OSI Global: Saudi Arabia is a controversial choice to host the World Cup, but the spotlight and scrutiny might spark change

Source: The Conversation – UK – By Wasim Ahmed, Senior Lecturer in Marketing, University of Hull

The official announcement that Saudi Arabia would host the 2024 Fifa men’s World Cup came as a surprise to nobody. Hosting rights have been on the country’s geopolitical agenda for many years, and football’s international governing body was more than happy to oblige.

Both parties have come in for heavy criticism as a result.

A joint statement from 21 campaign groups, including Amnesty International, accused Fifa of making “empty human rights commitments”. The apparent lack of a competitive bidding process was ridiculed, and concerns were raised about the the potential environmental impact.

So what was Fifa thinking?

After all the controversy over the 2022 tournament in Qatar (and Russia in 2018) has it simply doubled down on being impervious to global criticism? Or is it genuinely trying to perform a balancing act which fairly distributes the geopolitical and economic power of football?

Whatever the underlying reason, Fifa has become well practised at defending itself. It said that for the 2034 tournament, a “comprehensive consultation process” had taken place. Fifa president Gianni Infantino added that he expects Saudi Arabia to deliver “social improvements [and] positive human rights impacts” as “one of the responsibilities of hosting a World Cup”.

And there is some evidence which actually backs up this stance. It has been suggested for example, that after the intense scrutiny around its hosting of the 2022 World Cup, Qatar’s approach to human rights and the treatment of migrant workers improved.

It could also be argued that Fifa is opening up the sport to new regions, away from the traditional power bases of football. After all, since the 1930s, Europe has hosted 11 Word Cup tournaments, with five in Latin America. It took until 2002 for Asia to have a turn (in Japan and South Korea), while Africa did not have a host nation until 2010 (South Africa).

Fifa also likes to position itself as a promoter of global peace and international unity. The appointment of former Arsenal manager Arsene Wenger as chief of global football development was a positive move in this direction. Under his leadership, Fifa has established more consultation processes with fans and national confederations to shape the future of football. It still has a way to go though.

The world is watching

Fifa would probably argue that it is accountable and open. After all, it went to the trouble of publishing a bid evaluation report. This endorsed Saudi Arabia’s bid for being “innovative” and “forward looking”, showing strong financial and organisational capacity.

You can understand the “innovative” element. One of the planned stadiums situated on top of a cliff, promises to be a modern marvel. Another will be built 350m above the ground, at the heart of a newly built city.

The “forward looking” part may be a stretch for a country where the royal family remains omnipotent, the security services are powerful, and questioning the ruling elite is simply not tolerated.

Yet sport could also provide an opportunity for Saudi Arabia to change. In recent years, the country has lifted a ban on women drivers, opened up job opportunities, and appointed women to some of the top jobs in government. Women attend football matches, there has been a surge in popularity of female-only gyms, and the country’s gay scene is becoming more visible.

All of this does not match Saudi Arabia to the standards many in the west are used to, but at least it’s a start.

Fifa certainly appears to see it this way. Justifying the country’s successful bid, it said: “This is about making decisions based on evidence of how effectively bidders intend to address human rights risks connected with a tournament. It is not about peremptorily excluding countries based on their general human rights context.”

A league apart?

And it’s perhaps worth noting that few potential host countries would get a completely clean bill of political or societal health. In 2018, when the US, Canada and Mexico were given joint hosting duties for the 2026 tournament, the first Trump presidency had banned travellers from some Muslim countries from entering the country and was sparking huge concerns over the treatment of migrant families at the Mexican border.

Similarly, Canada continues to grapple with its long-term mistreatment of the country’s indigenous population.

In 2024 (so far) across the US and Mexico, there have been more than 45,000 deaths linked to gun violence. That includes dozens of politicians in Mexico, where 163 journalists have been killed since 2000.

The US, Mexico and Canada are also among the biggest oil and gas producing nations in the world. The US has the second biggest carbon footprint of any country, which will be exacerbated by the 78 matches due to be played there during the 2026 tournament.

Few questioned the decision to award the three countries hosting rights. So perhaps the inconvenient truth for purists is that no nation is perfectly suited for this role.

Competing to host major events has become something of a geopolitical tournament in itself, where the prizes on offer include power, prestige and the chance to try and change global perceptions. At the same time, football continues to seek ways to satisfy its hunger for commercial development and revenue growth.

Amid all of this, the hope must be that the world’s favourite sport manages to be a force for social good – wherever it is played.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Saudi Arabia is a controversial choice to host the World Cup, but the spotlight and scrutiny might spark change – https://theconversation.com/saudi-arabia-is-a-controversial-choice-to-host-the-world-cup-but-the-spotlight-and-scrutiny-might-spark-change-246366

MIL OSI – Global Reports –

January 27, 2025
MIL-OSI Global: Climate, migration and conflict mix to create ‘deadly’ intense tropical storms like Chido

Source: The Conversation – UK – By Liz Stephens, Professor of Climate Risks and Resilience, University of Reading

Cyclone Chido was an “intense tropical cyclone”, equivalent to a category 4 hurricane in the Atlantic. It made landfall in Mayotte, a small island lying to the north-west of Madagascar on December 14, generating wind gusts approaching 155mph (250km/hr). Later on, it hit Mozambique, East Africa with the same ferocity.

This storm skirted north of Madagascar and affected the Comoros archipelago before making landfall in Mozambique. It is well within the range of what is expected for this part of the Indian Ocean. But this region has experienced an increase in the most intense tropical cyclones in recent years. This, alongside its occurrence so early in the season, can be linked to increases in ocean temperatures as a result of climate change.

News of the effects of tropical cyclone Chido in Mayotte, Mozambique and Malawi continues to emerge. Current estimates suggest 70% of Mayotte’s population have been affected, with over 50,000 homes in Mozambique partially or completely destroyed.

Ongoing conflict in Mozambique and undocumented migration to Mayotte will have played a key role in the number of deaths and the infrastructure damage.

Assessing how these cyclones characteristics are changing across southern Africa is part of the research we are involved in. Our team also studies how to build resilience to cyclones where conflict, displacement and migration magnify their effects.

A human-made disaster?

The risk that tropical cyclones pose to human life is exacerbated by socioeconomic issues. Migrants on Mayotte, many of whom made perilous journeys to escape conflict in countries such as the Democratic Republic of Congo, now make up more than half of the island’s population.

Precarious housing and the undocumented status of many residents reportedly made the disaster more deadly, as people feared evacuation would lead them to the police. On islands with poor infrastructure such as Mayotte, there is often simply nowhere safe to go. It takes many days for the power network and drinking water supply to be restored.

The situation is particularly complex in Mozambique. The ongoing conflict and terrorist violence, coupled with cyclones, including Kenneth in 2019, has caused repeated evacuations and worsening living conditions. Cabo Delgado and Nampula in the far north of Mozambique, the provinces most affected by both Chido and the conflict, rank among the poorest and most densely populated in the country due to limited education, scarce livelihood options and an influx of people displaced by violence.

As of June 2024, more than half a million people remained without permanent homes in the region, many living in displacement camps. That number is likely to rise significantly after Chido.

Compounding the crisis, Chido’s landfall so early in the cyclone season meant that the usual technical and financial preparations were not yet fully ramped up, with low stock levels delaying the timely delivery of aid. Unrest following elections in November hampered preparations further, cutting the flow of resources and personnel needed for anticipatory action and early response.

Tropical cyclones in a warmer world

Warmer sea surface temperatures not only provide more fuel for stronger storms, but may also expand the regions at risk of tropical cyclones.

The Indian Ocean is warming faster than the global average, and is experiencing a staggering increase in the proportion of storms reaching the intensity of Chido.

Climate simulations predict that storms will continue getting stronger as we further warm our world, and could even lead to an unprecedented landfall as far south as the Mozambican capital, Maputo.

Scientists carry out attribution studies to determine how climate change contributed to specific events. Scientists undertaking rapid attribution studies of Chido have found that the ocean surface temperatures along the path of the storm were 1.1°C warmer than they would have been without climate change. So, temperatures this warm were made more than 50 times more likely by climate change. Another study focusing on Chido itself concluded that the cyclone’s winds were 5% faster due to global heating caused by burning fossil fuels, enough to bump it from a category 3 to a category 4 storm.

Intense winds are not the only hazard. Scientists are confident that tropical cyclones will dump more rain as a result of climate change. A trend towards slower-moving storms has been observed, causing more of that rain to accumulate in a single location, resulting in floods.

Cyclone Freddy delivered a year’s worth of rain to southern Malawi in just four days in March 2023. Storm surges, exacerbated by sea level rise, also raise the scale of flooding, as in the devastating Cyclone Idai in March 2019. An increase in the number of storms that rapidly intensify, as Chido did before landfall in Mayotte has also been linked to climate change, which makes it harder to provide early warnings.

To improve resilience to future cyclones, conflict, migration and social dynamics must be considered alongside climate change, without this, displaced and migrant communities will continue to be the most affected by the risks that climate change poses.

Don’t have time to read about climate change as much as you’d like?

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

Liz Stephens also works for the Red Cross Red Crescent Climate Centre, where she works as the Science Lead. She receives funding from the Foreign, Commonwealth & Development Office (FCDO) and the International Development Research Centre in Canada, as part of the CLARE (CLimate Adaptation and REsilience) research programme. Liz holds advisory positions within the Red Cross Red Crescent Movement, for the European Commission’s Global Flood Awareness System, the Anticipation Hub and the African Risk Capacity

I work for a university which has interest on publications around disasters and climate change. I am part of a research consortium (REPRESA) funded by IDRC to research cyclones in Southern Africa region

Dan Green 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. Climate, migration and conflict mix to create ‘deadly’ intense tropical storms like Chido – https://theconversation.com/climate-migration-and-conflict-mix-to-create-deadly-intense-tropical-storms-like-chido-246219

MIL OSI – Global Reports –

January 27, 2025
MIL-OSI Global: Who chooses to work, and who is forced to, after retirement?

Source: The Conversation – UK – By Takao Maruyama, Assistant Professor in Business Analytics, University of Bradford

fizkes/Shutterstock

The state pension age in the UK is currently 66. Yet 9.5% of people aged 66 and older (1.12 million people) were still working, according to the most recent data from the UK’s Annual Population Survey (July 2023 to June 2024). This figure has been rising over the past decade, increasing from 8.70% (880,000 people) in July 2013 to June 2014.

We think of retirement as a time to pursue hobbies, relax and enjoy the fruits of our labour. So why then, are so many people still working beyond retirement age, and who are they? This is what we sought to find out in a recent study.

We investigated who is more likely to “choose to work” and who is “forced to work”, using data from the UK’s annual population survey.

Older workers are not a homogeneous population. They differ in terms of age, ethnicity, socioeconomic class, financial situation, health conditions and more. Likewise, the reasons for working beyond retirement age vary widely. Some may work because they want to, while others may have no option and feel they have to work in order to make ends meet.

The below chart shows the breakdown of these retirement-age workers by key demographic and socioeconomic characteristics from the most recent data.

Three in five retirement-age workers were men, and almost all (94.4%) older workers were white. Just over half (51.5%) of older workers continued to work despite having long-term illnesses.

Characteristics of workers aged 66 and older:

Workers aged 66 years and older by demographic and socioeconomic characteristics.
Author provided, data from Annual Population Survey July 2023 to June 2024, CC BY

The majority (71.2%) of older workers were married, in a civil partnership or cohabiting. Nearly 40% of older workers were employed in higher managerial, administrative and professional occupations, followed by intermediate occupations such as sales or some service roles (32.1%), and routine manual occupations (25.6%).

More than 85% of retirement-age workers lived in the south (52.8%) and the north (33.1%) of England, and 70% are homeowners.

Who is ‘forced’ to work?

In our study, we calculated the likelihood of pension-age workers (66 years and older) with varying demographic and socioeconomic characteristics being forced to work.

The Annual Population Survey identifies six main reasons why older workers continue working beyond retirement age. These are:

A. To pay for desirable items (such as holidays),
B. Not ready to stop work,
C. Employer needs your experience or you are needed in the family business,
D. Due to opportunities to work more flexible hours,
E. To pay for essential items (such as bills), and
F. To boost pension pot.

In our study, we classed reasons (A) to (D) as “choose to work”, and (E) and (F) as “forced to work”. Our analysis, based on the most recent dataset (April 2022 to March 2023) at the time of the study, revealed that women are 25% more likely to be forced to work compared to men, and Asian workers are 120% more likely to be forced to work than white workers (with 34% and 17% more likely for older workers from black and other ethnic backgrounds, respectively).

Workers without long-term illness are 33% less likely to be forced to work than those with long-term illness, and non-married or single workers are 56% more likely to be forced to work compared to seniors who are married, in a civil partnership or cohabiting.

Workers in intermediate and routine manual occupations are 37% and 67% more likely to be forced to work, respectively, compared to those in higher managerial occupations. Older workers from the south of England are more likely to be be forced to work compared to seniors from any other parts of the UK, and retirement-age workers with mortgages or renting were 117% more likely to be forced to work compared to those who owned their properties.

Who is more likely to be ‘forced to work’?:

% comparison of likelihood of being ‘forced to work’.
Author provided, data from Annual Population Survey April 2022 to March 2023., CC BY

Ageing populations

This matters because of the changing nature of work, the rising cost of living and the UK’s ageing population. Retirement-age workers will be increasingly pressured to work longer due to the rising state pension age (due to increase to 67 in 2026-27).

Understanding who works by choice and who by necessity into retirement age is important, because these groups will need different kinds of support and resources.

For example, the higher likelihood of being forced to work among older female workers can be partly attributed to career breaks they took to serve as primary caregivers for their children, which often prevented them from accumulating sufficient pensions.

As the state pension age is expected to continue rising, it is crucial for policymakers and employers to design support systems for diverse demographic and socioeconomic groups of older workers, addressing their unique needs. This starts with understanding why people are working into old age.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Who chooses to work, and who is forced to, after retirement? – https://theconversation.com/who-chooses-to-work-and-who-is-forced-to-after-retirement-246214

MIL OSI – Global Reports –

January 27, 2025
MIL-OSI Canada: BC Hydro expands clean-energy supply with new solar project
Source: Government of Canada regional news

BC Hydro has added a new solar-energy project to the clean-energy projects selected to advance from its call for power.

On Dec. 9, 2024, the Province announced that BC Hydro has selected nine wind-energy projects through its 2024 call for power that will supply renewable, affordable electricity to growing communities throughout B.C.

While BC Hydro was preparing the public disclosure of the successful projects, one of the projects voluntarily withdrew and was not included in the announcement. BC Hydro has offered a 30-year electricity-purchase agreement to the next-highest evaluated project in order to maximize the power generation available through this call for power.

The newly added project is the ShTSaQU Solar Project in the southern Interior near Logan Lake, which will provide 104 megawatts of capacity. The Independent Power Producer partner is BluEarth Renewables Inc. and the First Nation partner is Oregon Jack Creek.

Collectively, these 10 clean and renewable projects will generate approximately 5,000 gigawatt hours of electricity annually, enough to power half a million new homes, and will increase BC Hydro’s current supply by 8%. These projects are spread across nearly every region in the province. Their development and construction are expected to generate between $5 billion and $6 billion in private capital investment.

BC Hydro engaged extensively with First Nations on the design of the call for power, and included a requirement that projects must have a minimum 25% equity ownership held by First Nations. Eight of the 10 successful energy projects will have 51% equity ownership. This represents $2.5 billion to $3 billion of ownership by First Nations in new renewable energy projects in the province.

The Province and BC Hydro are committed to holding regular competitive calls for power based on electricity demand to ensure that B.C. has the clean electricity it needs as the economy and population grow, while keeping rates affordable.

In addition to the call for power, BC Hydro is implementing several actions to meet the increasing demand from population growth, housing construction, business and industrial development, and transportation. These actions will power more than one million new homes in the coming years. This includes:
- adding the Site C hydroelectric dam, which will power 500,000 homes;
- investments in energy efficiency, which are expected to save 2,000 gigawatt hours of electricity annually (enough to power 200,000 homes);
- renewing existing electricity-purchase agreements; and
- exploring the use of utility-scale batteries.
Solar projects with a capacity equal to or more than 50 megawatts require an environmental assessment by the BC Environmental Assessment Office.

Learn More:

For details about the Dec. 9, 2024, call for power announcement and the successful projects, visit:
https://news.gov.bc.ca/releases/2024ECS0048-001643

For more information about the call for power, visit:
https://www.bchydro.com/2024CallforPower

MIL OSI Canada News –
January 27, 2025
MIL-OSI Economics: ACP Statement on Disappointing Record of Decision for Western Solar PEIS

Source: American Clean Power Association (ACP)

Headline: ACP Statement on Disappointing Record of Decision for Western Solar PEIS

WASHINGTON, December 20, 2024 — The American Clean Power Association (ACP) released the following statement today from Chief Policy Officer Frank Macchiarola after the U.S. Department of the Interior’s Bureau of Land Management (BLM) announced its Record of Decision on the Western Solar Programmatic Environmental Impact Statement (PEIS), which defines areas available for and excluded from solar development on public lands in 11 Western states:
“It’s disappointing BLM did not finalize a more balanced approach to development and conservation. The solar industry has consistently raised concerns during this process about the impact of land exclusions and project design features that are not even remotely addressed by this decision. Solar resources are part of the equation in addressing challenges to the sustainability of our public lands, while also helping provide Americans with affordable and reliable power.”
“This final decision represents a missed opportunity to deliver benefits to the U.S. economy and our energy security and reliability by helping pending and future projects get approved on an appropriate timeline. Reducing unnecessary regulatory hurdles that hamper development of clean energy resources on public lands is critical. ACP remains committed to working with all stakeholders to mitigate such barriers.”

MIL OSI Economics –

January 27, 2025
MIL-OSI Global: Times journalists deemed ‘legitimate military targets’ – how Russia muzzles criticism at home and abroad

Source: The Conversation – UK – By Precious Chatterje-Doody, Senior Lecturer in Politics and International Studies, The Open University

Russia’s former president and current deputy head of its security council, Dmitry Medvedev, has declared that the editors of the Times newspaper in the UK are now “legitimate military targets”.

Medvedev, who is one of Vladimir Putin’s closest allies, was responding to the newspaper’s coverage of the recent assassination of Russia’s chemical weapons chief, Igor Kirillov, in Moscow on December 17. The paper’s leading article referred to his killing by an explosive device hidden in a scooter as a “legitimate act of defence by a threatened nation”.

Medvedev took to Telegram to denounce the article, writing: “Those who carry out crimes against Russia … always have accomplices. They too are now legitimate military targets. This category could also include the miserable jackals from the Times who cowardly hid behind their editorial. That means the entire leadership of the publication.”

The assassination of Kirillov, who was in charge of Russia’s chemical, biological and nuclear defence forces, came a day after he had been charged by Ukraine in absentia with war crimes over Russia’s use of chemical weapons in the ongoing war.

Once seen as a liberal reformer when he temporarily took over Russia’s presidency between 2008 and 2012, Medvedev has since reinvented himself as a pro-war hawk who regularly makes outlandish or extreme statements on social media.

In May 2023, following a drone attack on the Kremlin, Medvedev posted a message on Telegram saying there were “no options left other than the physical elimination of [the Ukrainian president] Zelenskyy and his clique”. The post prompted Ukraine’s foreign minister, Dmytro Kuleba, to respond in an interview that “Medvedev should drink less vodka before going on Telegram”.

In his most recent outburst, Medvedev mirrored the rhetoric used in the Times editorial, claiming that by the same logic, all of Kyiv’s “accomplices” – whether decision-makers in Nato or journalists justifying Ukraine’s actions – are active participants in a war against Russia. This makes them “legitimate military targets” who need to “be careful” even in London, where “anything goes”.

Part of a pattern

Medvedev’s comments, while extreme, fall within a broader pattern of Russian officials using humour or courting controversy to justify their positions or ensure international press coverage. But they are also part of an escalation in Russian attacks on freedom of expression and the press.

Prior to the full-scale invasion of Ukraine, Russia’s media environment was restricted. Opposition viewpoints could, however, still be accessed relatively easily from a range of sources, including the regional press, online outlets and the political blogosphere. But the Kremlin has gradually chipped away at these possibilities by increasing restrictions on independent media and social media users alike.

These restrictions were ramped up even further following Russia’s invasion of Ukraine in February 2022. Criticism of the armed forces and spreading what the Kremlin deems “false information” about the so-called “special military operation” were criminalised.

Anti-war activists now routinely face conviction for justifying terrorism, and well-respected news outlets such as Ekho Moskvy have been forced to close. Journalists from Russia and abroad have been tried, convicted and incarcerated for allegedly violating these laws. They are often held in harsh conditions, in isolation and without access to adequate medical care.

But it is not just journalists and activists within Russia who have come under threat from this increasingly authoritarian regime. As well as its military incursions into Georgia in 2008 and eastern Ukraine since 2014, Russian intelligence organisations have been blamed for a number of targeted provocations abroad in recent years. In the case of the 2018 Salisbury poisonings, these resulted in fatalities on British soil.

Russian involvement is, of course, always denied. Kremlin propaganda uses a range of disinformation tactics to hide Russia’s culpability. With the Salisbury poisonings, this included an outlandish television interview on Russia’s RT network, where the main suspects claimed to be visiting health supplements salesmen. My research at the time showed that online audiences universally rejected their story, but incredulity over the interview overtook public anger.

Contrasting values

As my research has shown, extreme statements and conspiracy theories circulate rapidly and widely in today’s international media environment. With this in mind, it is common for the Kremlin and its proxies to mirror accusations back towards other parties and accuse them of hypocrisy.

Taking questions from a US journalist in his end-of-year press conference and phone-in on December 19, Putin was asked about the “failure” of the special military operation in Ukraine. The reporter went on to describe Putin’s position as “weaker” than that of the incoming US president, Donald Trump.

Putin insinuated that the very fact this US journalist was included in the event showed a better treatment by Russia of “esteemed” international journalists than Russian journalists receive from the US.

This is patently untrue. Wall Street Journal reporter Evan Gershkovich was imprisoned in Russia for 16 months on trumped-up espionage charges, after being detained in March 2023 while covering the effect of western sanctions on the Russian economy.

Russia’s crackdown on freedom of speech and freedom of the press is precisely because authoritarian regimes recognise they are incredibly vulnerable to the free and open-ended enquiry that my co-authors and I have argued is so crucial to defend.

As a spokesperson for the UK prime minister, Keir Starmer, noted in response to Medvedev’s latest comments: “A free press is a cornerstone of our democracy.”

Precious Chatterje-Doody 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. Times journalists deemed ‘legitimate military targets’ – how Russia muzzles criticism at home and abroad – https://theconversation.com/times-journalists-deemed-legitimate-military-targets-how-russia-muzzles-criticism-at-home-and-abroad-246361

MIL OSI – Global Reports –

January 27, 2025
MIL-OSI Russia: 23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia

Translation. Region: Russian Federation –

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

The meeting was held under the joint chairmanship of Deputy Prime Minister of the Russian Federation Alexey Overchuk and Deputy Prime Minister of the Republic of Armenia Mher Grigoryan.

23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia

December 20, 2024

23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia. Alexey Overchuk and Deputy Prime Minister of the Republic of Armenia Mher Grigoryan

December 20, 2024

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23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia

The 23rd regular meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia was held in Moscow under the joint chairmanship of Deputy Prime Minister of the Russian Federation Alexey Overchuk and Deputy Prime Minister of the Republic of Armenia Mher Grigoryan.

The parties summed up the results of bilateral cooperation in trade and economic spheres, energy, industry, transport, agriculture, finance, healthcare, culture, science, interregional cooperation, education and tourism.

“Our trade and economic relations continue to be on the rise. Mutual trade between Russia and Armenia, according to data for 10 months of 2024, amounted to 10.2 billion dollars. This is more than twice as much as the same indicator last year,” noted Alexey Overchuk, emphasizing that in order to implement trade and economic relations, the countries have almost completely switched to settlements in national currencies – the share of the Russian ruble in mutual settlements has reached 96.3%.

The Russian Federation is one of the main investors in the Armenian economy. Investments in industrial projects in the Republic of Armenia have reached $3.4 billion. More than 40 large Russian companies operate in Armenia, some of them are the largest taxpayers in the state budget.

“In addition to direct investments, Eurasian development institutions are also actively working,” said the Deputy Prime Minister. “Active work is underway here, including in support of the “Crossroads of the World” initiative, which was put forward by the Prime Minister of the Republic of Armenia Nikol Vovaevich Pashinyan.”

The Chairman of the Russian part of the commission also noted that in July 2024, with the assistance of Russian Railways, the railway between Armenia and Georgia, damaged by flooding, was restored in the shortest possible time – the only railway connecting Armenia with the outside world, which is an important channel for delivering vital goods to Armenia.

“All these investments and projects are being implemented with the aim of strengthening connectivity in the Eurasian region and the South Caucasus, in particular, integrating Armenia into the new value chains emerging in Eurasia and realizing the transport and logistics potential that the Republic of Armenia has, with unwavering respect for its sovereignty and jurisdiction,” Alexey Overchuk said in his speech.

In the context of the work of Eurasian development institutions, the Deputy Prime Minister also noted the implementation of the irrigation systems modernization project: mechanical irrigation has been replaced by gravity irrigation, which provides annual energy savings. 5 main and 22 inter-farm canals have been restored. Work on the restoration and construction of intra-farm irrigation systems in 105 settlements of the Republic of Armenia has been completed.

“Two weeks ago, our specialists agreed to assess the technical condition of eight bridges damaged by the floods in Lori and Tavush. All work will be completed as soon as possible, and we expect that by the end of the year, their results will be submitted to the Ministry of Territorial Administration and Infrastructure of the Republic of Armenia,” the Deputy Prime Minister said.

During the meeting, the active development of cooperation in the humanitarian sphere was emphasized.

“Today we are signing an intergovernmental Agreement on the conditions of operation of the Russian-Armenian University in the Republic of Armenia. This is one of the leading universities in Armenia, where more than 5 thousand students study, mastering 123 educational programs, 80 of which are taught according to Russian educational standards,” the Deputy Prime Minister emphasized.

The university’s research and teaching staff includes 82 doctors and 332 candidates of science. The university’s structure includes 9 institutes, 31 departments and 12 laboratories.

The University cooperates with the Joint Institute for Nuclear Research, the Institute for System Programming of the Russian Academy of Sciences, the St. Petersburg Polytechnic University and other Russian scientific centers. Research projects are implemented in such areas as bioinformatics, genomic research, quantum nanophotonics, biochemistry and biotechnology.

Work continues to provide opportunities to receive education according to Russian standards in the educational and sports complex, which includes a school for 700 students, built in Yerevan as part of the Gazprom for Children social program.

The countries pay great attention to cooperation in the field of culture. Since 2023, a program to support Russian theaters abroad has been implemented, within the framework of which the Yerevan State Russian Drama Theater named after Stanislavsky was provided with financial assistance for the acquisition of stage equipment and the creation of new productions based on works of Russian classics. The Moscow Parajanov Theater, with the support of the Ministry of Culture of Russia and the Cultural Center of the Armenian Embassy in Russia, held a large-scale festival “Parajanov Fest”.

Bilateral cooperation in the field of creative education is developing. Within the framework of the International Student Festival of VGIK, 38 films participating in the festival were screened at the Russian-Armenian University.

In pursuance of the agreements reached at the meeting of the intergovernmental commission, the second Russian-Armenian Forum of Education in the Sphere of Culture was held in Moscow in December 2024.

Cooperation in the healthcare sector is being strengthened, including within the framework of annual Russian-Armenian forums on healthcare. The ninth Russian-Armenian forum on healthcare, dedicated to issues of maternal and child health, was held on December 16, 2024 in Yerevan. During the forum, the system of extended perinatal screening developed and successfully applied in Russia was presented.

Russia and Armenia are developing mutual tourism. In January-September 2024, the number of trips of Russian tourists to Armenia amounted to 715.8 thousand, and Armenian tourists to Russia – 266 thousand.

Speaking about cooperation in multilateral formats, primarily through the Eurasian Economic Union, the Deputy Prime Minister noted that the union has become a real guarantor of Armenia’s energy and food security, as well as its technological development.

“The Union countries are the key sales market and the key supplier to the Armenian market. The EAEU accounts for 56% of Armenia’s food exports, 80% of machinery and equipment exports, 67% of chemical exports, and 56% of textile exports. The EAEU also provides 72% of energy imports, 49% of precious metal imports, 38% of food imports, and 34% of timber imports. During its membership in the Union, the export of industrial goods from Armenia has grown 15-fold, and food exports from Armenia have grown 4-fold. Since joining the EAEU in 2015, Armenia’s per capita GDP has grown almost 2.4-fold. This was made possible by the benefits of a common goods market, low prices for agricultural raw materials and energy, a convenient migration regime, and a common services market,” said Alexey Overchuk.

Following the meeting, the protocol of the 23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Armenia was signed.

The parties also signed an Agreement between the Government of the Russian Federation and the Government of the Republic of Armenia on the conditions for the operation of the Russian-Armenian University in the Republic of Armenia, a State Purchase Agreement for a polyvalent, cultured, sorbed, inactivated foot-and-mouth disease vaccine, an Agreement between the Government of the Russian Federation and the Government of the Republic of Armenia on the conditions for the operation of the Educational and Sports Complex of Gazprom Armenia CJSC in Yerevan, and a work plan for the Russian-Armenian Business Council for 2025.

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

MIL OSI Russia News –

January 27, 2025
MIL-OSI Security: Russian National Assisted Sanctioned Oligarch in Schemes to Employ an American Citizen to Launch and Operate Russian Television Network

Source: Federal Bureau of Investigation (FBI) State Crime News

Defendant Also Helped Oligarch Illegally Transfer a $10 Million U.S. Investment to Business Associate

Damian Williams, the United States Attorney for the Southern District of New York, Menno Goedman, the Co-Director of Task Force KleptoCapture, and James E. Dennehy, the Assistant Director in Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of a Superseding Indictment charging ALEXEY KOMOV with conspiracy and violations of U.S. sanctions arising from his assistance to sanctioned Russian oligarch KONSTANTIN MALOFEYEV, who was previously charged in April 2022. As alleged, KOMOV conspired with MALOFEYEV to recruit and employ an American citizen, Jack Hanick, who worked for MALOFEYEV in launching and operating a television network in Russia. KOMOV also conspired with MALOFEYEV, Hanick, and others to illegally transfer a $10 million investment that MALOFEYEV had made in a U.S. bank to a business associate in Greece, in violation of the sanctions blocking MALOFEYEV’s assets from being transferred.

U.S. Attorney Damian Williams said: “As alleged, Alexey Komov facilitated the efforts of Konstantin Malofeyev – an oligarch closely tied to Russian aggression in Ukraine who has been determined by OFAC to have been one of the main sources of financing for the promotion of Russia-aligned separatist groups operating in the sovereign nation of Ukraine – to flout U.S. sanctions. The unsealing today of the Indictment against Komov is yet another reminder that this Office will continue to hold those accountable that seek to undermine the United States’ national security goals.”

KleptoCapture Co-Director Menno Goedman said: “The indictment alleges Alexey Komov played an essential role in a multi-faceted scheme to violate and evade U.S. sanctions imposed on a significant financier of Russian aggression in Ukraine. Task Force KleptoCapture will continue to disrupt schemes perpetrated by Komov and other sanction evaders, whenever and wherever they may hide.”

FBI Assistant Director in Charge James E. Dennehy said: “Alexey Komov, a Russian national, allegedly conspired with an American citizen and a sanctioned Russian oligarch to develop a Russian cable network to promote anti-Western propaganda. This alleged conspiracy violated laws designed to protect the national security of the United States and our allies. The FBI remains committed to apprehending foreign nationals who employ our citizens to satisfy their odious agenda.”

According to the Indictment unsealed today in Manhattan federal court:[1]

In 2014, the President issued Executive Order 13660, which declared a national emergency with respect to the situation in Ukraine. To address this national emergency, the President blocked all property and interest in property that came within the U.S. or the possession or control of any U.S. person, of individuals determined by the Secretary of the Treasury to be responsible for or complicit in, or who engaged in, actions or policies that threatened the peace, security, stability, sovereignty, or territorial integrity of Ukraine, or who materially assist, sponsor, or provide financial, material, or technological support for, or goods and services to, individuals or entities engaging in such activities. Executive Order 13660, along with certain regulations issued pursuant to it (the “Ukraine-Related Sanctions Regulations”) prohibits, among other things, making or receiving any funds, goods, or services by, to, from, or for the benefit of any person whose property and interests in property are blocked.

On December 19, 2014, the Department of Treasury’s Office of Foreign Assets Control (“OFAC”) designated MALOFEYEV as a Specially Designated National (“SDN”) pursuant to Executive Order 13660. OFAC’s designation of MALOFEYEV explained that he was one of the main sources of financing for Russians promoting separatism in Crimea, and has materially assisted, sponsored, and provided financial, material, or technological support for, or goods and services to or in support of the so-called Donetsk People’s Republic, a separatist organization in the Ukrainian region of Donetsk.

As alleged in the Indictment, beginning in at least 2012, KOMOV assisted MALOFEYEV in recruiting and hiring a U.S. citizen named Jack Hanick to work on a new Russian cable television news network (the “Russian TV Network”) that MALOFEYEV was creating. As part of KOMOV’s recruitment of Hanick, KOMOV travelled to Manhattan to meet with Hanick and subsequently introduced Hanick to MALOFEYEV in Russia. With KOMOV’s knowledge, MALOFEYEV negotiated directly with Hanick regarding Hanick’s salary, payment for Hanick’s housing in Moscow, and Hanick’s Russian work visa. MALOFEYEV paid Hanick through two separate Russian entities through the end of 2018.

After OFAC designated MALOFEYEV as a SDN in December 2014, MALOFEYEV continued to employ Hanick on the Russian TV Network, with KOMOV’s assistance and input, and in violation of the Ukraine-Related Sanctions Regulations. For example, prior to the launch of the Russian TV Network on the air in Russia in April 2015, KOMOV wrote an e-mail to MALOFEYEV, Hanick, and another employee, referencing their prior discussion with MALOFEYEV earlier that day and instructing Hanick to create two types of programs and allocate staff. KOMOV further wrote, “Hopefully Konstantin will be providing general direction and guidance for both projects. Looking forward to our long-term co-operation on those exciting endeavors!” In turn, Hanick requested KOMOV to serve as a moderator for the first broadcast, writing “KM [i.e. MALOFEYEV] and I agree that we need you on this the first show on [the Russian TV Network]!!!”

With KOMOV’s participation, MALOFEYEV also employed Hanick to assist MALOFEYEV in transferring a shell company that MALOFEYEV owned to a Greek associate of MALOFEYEV (the “Greek Business Associate”). In 2014, MALOFEYEV, assisted by KOMOV, had used the shell company to make a $10 million investment in a Texas-based bank holding company (the “Texas Bank”). KOMOV helped set up the deal, emailing a Texas-based attorney (“Individiual-1”), “I plan to come to the US with two of my close friends Konstantin Malofeev [sic] and [another individual] on Feb 4-9, 2014 . . . I’d like the three of us to meet with you to discuss our cooperation, and also joint investment projects (please propose attractive investment opportunities with reliable partners for $50-100 mln participation from our side)”. On or about March 25, 2014, KOMOV wrote to Individual-I, “Konstantin has confirmed today that he goes ahead with the 10 mln investment in the bank project.”

Beginning in or about March 2015, with KOMOV’s assistance, MALOFEYEV began making plans to transfer ownership of the shell company to the Greek Business Associate, in violation of the Ukraine-Related Sanctions Regulations. On or about March 4, 2015, KOMOV wrote to Individual-1, “I need to discuss with you several things: previous investment in the bank project (we want to consider selling it)”. On or about March 17, 2015, KOMOV wrote to Individual-I about the Texas Bank interest, in part, “We want to keep it where it is now, only the owner from our side changes.” Consistent with that plan, in or about May 2015, MALOFEYEV’s attorney drafted a Sale and Purchase Agreement that purported to transfer the shell company to the Greek Business Associate in exchange for one U.S. dollar. In June 2015 MALOFEYEV had Hanick physically transport a copy of MALOFEYEV’s certificate of shares in the Texas Bank from Moscow to Athens to be given to the Greek Business Associate. MALOFEYEV signed the Sale and Purchase Agreement in June 2015, but the agreement was fraudulently backdated to July 2014 to make it appear that the transfer had taken place prior to the imposition of U.S. sanctions. MALOFEYEV’s attorney then falsely represented to the Texas Bank that the transfer had taken place in July 2014, even though MALOFEYEV and his attorney well knew that the transfer of the shell company was executed in June 2015.

The U.S. seized and forfeited approximately $5.4 million in the property traceable to MALOFEYEV’s Texas Bank investment, which had been converted by the Texas Bank in 2016 to cash held in a blocked U.S. bank account. In February 2023, the U.S. Attorney General authorized a transfer of these forfeited funds to the State Department to support Ukrainian veterans.

MALOFEYEV, of Russia, is believed to be in Russia and remains at large.

* * *

KOMOV, 53, a Russian national, is charged with conspiracy to violate and substantive violation of International Emergency Economic Powers Act, each of which carry a maximum potential sentence of 20 years in prison.

The maximum potential sentences in this case are prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.

Mr. Williams praised the outstanding investigative work of the FBI and thanked the support and expertise of the Department of Justice’s National Security Division and Office of International Affairs in the conduct of this matter.

The prosecution is being handled by the Office’s Illicit Finance and Money Laundering Unit. Assistant U.S. Attorneys Vladislav Vainberg, Thane Rehn, Jessica Greenwood, and Trial Attorney Scott Claffee of the National Security Division’s Counterintelligence and Export Section are in charge of the prosecution.

[1] The entirety of the text of the Indictment, and the description of the Indictment set forth herein, constitute only allegations, and every fact described should be treated as an allegation.

MIL Security OSI –

January 27, 2025
MIL-OSI Canada: Province appoints new BC Hydro board chair, directors

Source: Government of Canada regional news

The B.C. government has appointed a new chair and three new directors to the BC Hydro board of directors, ensuring the important work of keeping rates affordable, expanding critical electricity infrastructure to meet future demand, and effective management of drought and power imports continues to be prioritized.

Glen Clark has been appointed the new chair of the BC Hydro board of directors. Clark will take over the post from current chair, Lori Wanamaker, whose term will end on Dec. 31, 2024. Clark brings extensive leadership, corporate relations and resource development experience to the position, as a former premier and minister of finance and corporate relations, as well as former president of the Jim Pattison Group, a multinational corporation with diverse holdings.

Merran Smith is president of New Economy Canada and brings award-winning leadership uniting industry, government and civil-society partners to solve society’s most pressing social and ecological challenges. She represents Canada on the C3E International Ambassador Corps. The founder of Clean Energy Canada, Smith is broadly recognized as a fearless advocate and national leader in advancing Canada’s clean, zero-carbon economy.

Brynn Bourke is executive director of the BC Building Trades (BCBT). Under her leadership, BCBT has opened the College of the BC Building Trades, launched a youth ambassador program to connect apprentices with high school students, secured enhanced sanitation protocols on construction sites and supported initiatives that reduce barriers for under-represented groups to enter the trades. Bourke is a board member of BuildForce Canada and SkillPlan.

Don Kayne is president and CEO of Canfor Corporation, and former CEO of Canfor Pulp Products Inc. Kayne has deep experience in international sales and marketing, human resources and executive compensation through 45 years with the forest company. Kayne has served the forestry industry in many roles, including numerous current and past leadership positions with provincial, national and international forestry-related associations and organizations.

The new directors will occupy spaces on the board left by Amanda Hobson and Victoria McMillan, whose terms are ending, and Irene Lanzinger and Daryl Fields, who are retiring.

Directors Nalaine Morin and Chief Clarence Louie, whose terms on the board will end on Dec. 31, 2024, have been reappointed for an additional two-year term. The remainder of the board is unchanged.

The board of directors is responsible for providing oversight and direction of BC Hydro, such as the implementation of relevant energy policy decisions of the Province. The board chair provides leadership in guiding the board’s activities in the best interests of BC Hydro and British Columbians.

MIL OSI Canada News –

January 27, 2025
MIL-OSI Security: Texas title company employee admits to orchestrating $350,000 real estate wire fraud scheme

Source: Office of United States Attorneys

McALLEN, Texas – A 55-year-old McAllen resident has pleaded guilty to conspiracy to commit wire fraud, announced U.S. Attorney Alamdar S. Hamdani.

Mayela Saby Cantu admitted she knowingly participated in a scheme that used falsified lien payoff statements, fraudulent warranty deeds and deceptive emails to mislead lenders, title companies and property buyers.

From November 2020 until her arrest, Cantu defrauded buyers and lenders in multiple property transactions while working at Sierra Title in McAllen. Using her position of trust, she facilitated closings backed by falsified documents. In one notable case, she directed others to create a fraudulent email address resembling that of a legitimate lienholder. Cantu then used the fake account to send false payoff amounts via interstate wires, leading a title company to improperly disburse more than $350,000.

Cantu facilitated additional fraudulent property transactions, including arranging closing on properties that had already been sold and accepting undisclosed cash payments. By concealing the true nature of these deals, she caused significant financial harm to the affected parties.

Chief U.S. District Judge Randy Crane will impose sentencing March 3, 2025. At that time, Cantu faces up to 20 years in federal prison and a possible $250,000 maximum fine.

She was permitted to remain on bond pending that hearing.

The FBI, McAllen Police Department and Texas Department of Insurance conducted the investigation. Assistant U.S. Attorney Eric D. Flores is prosecuting the case.

MIL Security OSI –

January 27, 2025
MIL-OSI Security: Jacksonville Technology Architect Sentenced To More Than 12 Years For Attempting To Entice And Meet An 11-Year-Old To Engage In Sexual Activity

Source: Office of United States Attorneys

Jacksonville, Florida – Senior United States District Judge Timothy J. Corrigan has sentenced Amol Chandrashekhar Khedkar (59, Jacksonville) to 12 years and 6 months in federal prison for using his cellphone and the internet to attempt to entice an 11-year-old child to engage in sexual activity. Khedkar was also ordered to serve a 10-year term of supervised release and to register as a sex offender. Khedkar was working as an information technology architect for a financial institution when he was arrested on November 29, 2023, in St. Johns County. He has been detained since that time. Khedkar pleaded guilty on August 13, 2024.

According to court documents and evidence discussed in open court, on November 28, 2023, an undercover FBI agent (UC) in the Jacksonville area was conducting an online undercover operation to identify adults seeking to meet and engage in sexual activity with children. Posing as the parent of an 11-year-old child, the UC posted a notice in a public chat room of a particular online social messaging application (app). Minutes later, an individual using the app name “drbrownee,” who was subsequently identified as Khedkar, contacted the UC online by private message on the app. After being advised of the “child’s” age, Khedkar confirmed that he would “love to see [the ‘child’].” He asked the UC specific questions about access to the “child” and the “child’s” sexual experience, including “[d]oes she suck,” “[d]o you allow fondling?,” and “[w]hat do you charge?” Khedkar and the UC discussed meeting in person the next day at the “child’s” residence. Khedkar stated, “I’ll show up, … [t]hen you can invite me inside.”

On November 29, 2023, Khedkar and the UC exchanged text messages and arranged to meet at a location in St. Johns County. When Khedkar arrived at the location, he was arrested by FBI agents. During an interview with agents, Khedkar stated that his username was “drbrownee,” that he used his online account to communicate with the UC, and he had asked the UC about sexually abusing the “child.” Khedkar’s cellphone was seized incident to his arrest and a search of its contents revealed at least 25 online conversations between Khedkar and other individuals on the app discussing the sexual exploitation of children, as well as several photos depicting young children being sexually abused.

This case was investigated by the Federal Bureau of Investigation and the St. Johns County Sheriff’s Office. It was prosecuted by Assistant United States Attorney D. Rodney Brown.

It is another case brought as part of Project Safe Childhood, a nationwide initiative launched in 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children, and to identify and rescue child victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

MIL Security OSI –

January 27, 2025
MIL-OSI Africa: Chad: New EUR 28 million African Development Bank-funded solar project to boost Chad’s energy access

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

ABIDJAN, Ivory Coast, December 20, 2024/APO Group/ —

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved funding worth EUR 28 million to build solar power plants in Gassi and Lamadji, Chad. This is part of the Bank’s Desert to Power program to increase energy access across Africa.

The funding includes EUR 20 million in direct support, combining a loan and a grant from the Sustainable Energy Fund for Africa, plus EUR 8 million in financial guarantees. These guarantees are split equally between the African Development Fund and the Green Climate Fund, which both contribute EUR 4 million each to support this clean energy project.

This important project is part Chad’s Desert to Power plan. It will increase power supply by 20% and pave the way for the country’s energy transition from expensive, polluting fuel-based power to clean energy. The project will build two solar power plants in the outskirts of N’Djamena, each able to produce 15-megawatt peak of electricity. It also includes new power stations, connection lines, and a 6-megawatt-hour battery system to store energy for when the sun isn’t shining. The total project cost is estimated at EUR 41 million. The Bank’s financing is in addition to financing expected from other Development Finance Institutions (DFIs).

Kevin Kariuki, Vice President of the Power, Energy, Climate, and Green Growth complex at the African Development Bank, said: “The Gassi and Lamadji solar project is a landmark development that underscores Chad’s strong commitment to the transition to renewable energy under the Desert to Power Initiative, and the Bank’s continued commitment to supporting transformative, clean energy projects across the continent. This project not only facilitates the Government of Chad’s efforts to increase access to energy through renewable energy but also drives local economic growth and strengthens the country’s energy security.”

Wale Shonibare, the Bank’s Director of the Energy Financial Solutions, Policy, and Regulations department, added, “As a pioneering solar project in Chad, this initiative exemplifies the scale of renewable energy potential in the Sahel region. It demonstrates how strong partnerships and the Bank’s deployment of its suite of instruments and innovative solutions can advance the energy transition and foster sustainable economic development.”

The solar plants are expected to generate 61 gigawatt-hours of clean, reliable, and affordable energy each year responding to Chad’s energy deficit. This will reduce carbon dioxide emissions by 49,000 tons each year, helping Chad meet its climate change commitments under the Paris Agreement. The project will create 200 jobs during construction, with special opportunities for women and young people and 34 permanent jobs during operation. The project will generate revenue for the national treasury through taxes, reduce fuel subsidies, and improve the country’s balance of payments by reducing energy imports.

Aligned with the Bank’s Ten-Year Strategy, the New Deal on Energy for Africa, and its High 5 objective of “Light Up and Power Africa,” the Gassi and Lamadji Solar PV project reinforces Chad’s commitment to increase energy access through renewable energy. It also supports the African Development Bank’s mission to promote sustainable, inclusive, and resilient energy development across Africa.

MIL OSI Africa –

January 27, 2025
MIL-OSI Africa: Madagascar: African Development Fund approves a grant of over $9 million to strengthen protection and sustainable use systems for natural capital and ecosystems

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

ABIDJAN, Ivory Coast, December 20, 2024/APO Group/ —

The Board of Directors of the African Development Fund (https://apo-opa.co/4iITWIP) – the African Development Bank Group’s (www.AfDB.org) concessional financing window – approved a donation of $9.42 million to Madagascar to implement climate resilience through the Preservation of Biodiversity in National Parks Project.

The grant, agreed on 18 December 2024 in Abidjan, comes from the Climate Action Window (https://apo-opa.co/3VOUrYa), a mechanism of the Fund, created during the 16th replenishment round to help combat the significant shortage of climate finance in Africa. The window is split into three sub-windows – adaptation, mitigation and technical assistance – and is aimed at the least developed countries on the continent.

The project aims to strengthen the resilience of agricultural protection system value chains and preserve and ensure the sustainable use of natural capital and ecosystems to increase Madagascar’s resilience to climate change. It plans to develop the capacity of communities living alongside the national parks to adapt to climate change, develop and refurbish access roads to ensure the parks are accessible in every season, build sustainable conservation infrastructure, provide water from boreholes and micro-dams, and construct public primary schools, along with five basic health centres to benefit local communities.

Furthermore, the project will help secure the land in the protected areas concerned and support the local economy through income-generating activities. The various support activities, particularly training and awareness-raising campaigns, will help establish a sense of responsibility among the direct beneficiaries in how they carry out development initiatives.

“The project is targeting direct investment in climate-smart agriculture to improve agricultural production, the conservation of natural habitats and ecosystems, the development of socioeconomic infrastructure, and the participation of local people, by creating job opportunities to improve their livelihoods,” commented Adam Amoumoun, head of the African Development Bank’s Country Office for Madagascar.

“Activities to conserve and maintain protected areas will have a positive impact in terms of reducing carbon emissions in the three intervention areas; this will be incorporated into a study on implementing contractual payment mechanisms for ecosystem services and the development of a carbon market,” he added.

The project’s direct intervention area covers three national parks – Lokobe, Nosy Hara and Andringitra – and surrounding areas. Three other national parks – Montagne d’Ambre, Ankarafantsika and Analamazaotra Mantadia – will benefit from the training and capacity-building component for young people and women.

MIL OSI Africa –

January 27, 2025

MIL-OSI Europe: Text adopted – Setting up a special committee on the European Democracy Shield, and defining its responsibilities, numerical strength and term of office – P10_TA(2024)0065 – Wednesday, 18 December 2024 – Strasbourg

Source: European Parliament

The European Parliament,

– having regard to the proposal from the Conference of Presidents,

– having regard to the Commission communication on the European democracy action plan (COM(2020)0790),

– having regard to Regulation (EU) 2022/2065 of the European Parliament and of the Council of 19 October 2022 on a Single Market For Digital Services and amending Directive 2000/31/EC (Digital Services Act)(1) and Regulation (EU) 2022/1925 of the European Parliament and of the Council of 14 September 2022 on contestable and fair markets in the digital sector and amending Directives (EU) 2019/1937 and (EU) 2020/1828 (Digital Markets Act)(2),

– having regard to its resolution of 20 October 2021 on Europe’s Media in the Digital Decade: an Action Plan to Support Recovery and Transformation(3),

– having regard to the 2022 Code of Practice on Disinformation,

– having regard to Directive (EU) 2019/1937 of the European Parliament and of the Council of 23 October 2019 on the protection of persons who report breaches of Union law(4),

– having regard to Directive (EU) 2022/2557 of the European Parliament and of the Council of 14 December 2022 on the resilience of critical entities and repealing Council Directive 2008/114/EC(5),

– having regard to Regulation (EU) 2024/1083 of the European Parliament and of the Council of 11 April 2024 establishing a common framework for media services in the internal market and amending Directive 2010/13/EU (European Media Freedom Act)(6),

– having regard to Directive (EU) 2024/1069 of the European Parliament and of the Council of 11 April 2024 on protecting persons who engage in public participation from manifestly unfounded claims or abusive court proceedings (‘Strategic lawsuits against public participation’)(7),

– having regard to the March 2021 EU toolbox of risk mitigating measures on the cybersecurity of 5G networks,

– having regard to the Communication from the Commission on Defence of Democracy (COM(2023)0630),

– having regard to the Commission proposal of 12 December 2023 for a Directive of the European Parliament and of the Council establishing harmonised requirements in the internal market on transparency of interest representation carried out on behalf of third countries and amending Directive (EU) 2019/1937 (COM(2023)0637),

– having regard to the Commission recommendations on inclusive and resilient electoral processes in the Union and enhancing the European nature and efficient conduct of the elections to the European Parliament (C(2023)8626) and on promoting the engagement and effective participation of citizens and civil society organisations in public policy-making processes (C(2023)8627),

– having regard to its resolution of 9 March 2022 on foreign interference in all democratic processes in the European Union, including disinformation(8) (INGE 1),

– having regard to its resolution of 1 June 2023 on foreign interference in all democratic processes in the European Union, including disinformation(9) (INGE2),

– having regard to its recommendation of 15 June 2023 to the Council and the Commission following the investigation of alleged contraventions and maladministration in the application of Union law in relation to the use of Pegasus and equivalent surveillance spyware(10),

– having regard to the report of 30 October 2024 entitled ‘Safer Together – Strengthening Europe’s Civilian and Military Preparedness and Readiness’, authored by Sauli Niinistö, former President of the Republic of Finland, in his capacity as Special Adviser to the President of the European Commission,

– having regard to Rule 213 of its Rules of Procedure,

A. whereas foreign interference constitutes a serious violation of the universal values and principles on which the Union is founded, such as human dignity, freedom, equality, solidarity, respect for human rights and fundamental freedoms, democracy and the rule of law; whereas evidence shows that malicious and authoritarian foreign state actors and malicious non-state actors are using information manipulation and other tactics to interfere in democratic processes in the Union; whereas such attacks mislead and deceive citizens and affect their voting behaviour, amplify divisive debates, divide, polarise, and exploit the vulnerabilities of societies, promote hate speech, worsen the situation of vulnerable groups which are more likely to become victims of disinformation, distort the integrity of democratic elections and referendums, cast suspicion on national governments, public authorities, the democratic order and the rule of law and have the goal of destabilising European democracy; whereas this has become a question of internal security and safety of Union society as a whole;

B. whereas a campaign of disinformation of an unparalleled malice and magnitude with the purpose of deceiving both domestic citizens and the international community of States as a whole has continuously been carried out by Russia for many years, with particular intensity since the eve of and during its war of aggression against Ukraine which started on 24 February 2022; whereas there is a need for continuous support and close cooperation with Ukraine and Moldova in that regard, but also the pro-European forces in Georgia and the countries of the Western Balkans, which all face strong Russian interference into their process of convergence with the Union, leveraging the possibilities of mutual exchange of information and best practices;

C. whereas attempts by state actors from third countries and malicious non-state actors to interfere in the functioning of democracy in the Union and its Member States, and put pressure on the values enshrined in Article 2 of the Treaty on European Union by means of malicious interference, are part of a wider disruptive trend experienced by democracies worldwide;

D. whereas malicious actors continue to seek to interfere in electoral processes and take advantage of the openness and pluralism of our societies, and to attack democratic processes and the resilience of the Union and its Member States;

E. whereas malign autocratic actors are increasingly conducting disinformation campaigns against the work of the Union delegations; whereas this is a clear attempt to hinder the Union’s strategic communication abroad;

F. whereas, before 8 October 2024, the EU and its Member States did not have a specific regime of sanctions relating to foreign interference and disinformation campaigns orchestrated by malicious state actors from third countries, meaning that such actors were in a position to safely assume that their destabilisation campaigns against the Union will face no consequences;

G. whereas there is a lack of a common definition and understanding of this phenomenon and many gaps and loopholes remain in current legislation and policies at Union and national level intended to detect, prevent and counter foreign interference;

H. whereas foreign interference, disinformation, and numerous attacks on and threats against democracy are expected to continue in ever-greater numbers and more sophisticated ways;

I. whereas Parliament’s previous recommendations to counter malign foreign interference operations in the democratic processes of the Union have contributed to an overall Union understanding and to a greater awareness of the issue;

J. whereas the hearings and work of the INGE 1 and INGE 2 special committees have contributed to public recognition and the contextualisation of these issues, and have successfully framed the Union debate on foreign interference in democratic processes and disinformation;

K. whereas there is a need for global, multilateral cooperation and support among like-minded partners, including between parliamentarians, in dealing with foreign malicious interference and disinformation; whereas democracies have developed advanced skills and counter-strategies in dealing with those threats and attacks;

L. whereas addressing foreign interference, disinformation and threats against democracy requires a multifaceted approach in order to foster critical thinking and media and information literacy, and promoting civic engagement and democracy education;

M. whereas hybrid threats and attacks may lead to full-scale and cross-sectoral crises with detrimental effects on safety and security, the well-being of citizens and the functioning of society and economy as a whole, constituting a key challenge to the Union’s internal affairs; whereas that new reality requires a more robust approach to Union crisis management and civilian and defence preparedness, building strategic foresight and anticipation and strengthening early warning, detection, analysis and operational coordination capabilities;

1. Decides to set up a special committee named ‘special committee on the European Democracy Shield’ and that it shall carry out, in cooperation and consultation with the competent standing committees where their powers and responsibilities under Annex VI of the Rules of Procedure are concerned, the following responsibilities:

	(a)	to assess relevant existing and planned legislation and policies to further detect possible loopholes, gaps and overlaps that could be exploited for malicious interference in democratic processes, including as regards the following matters:
	(i)	policies, legislative proposals and structures to be established under the European Democracy Shield, and already established under the European Democracy Action Plan, as well as relevant instruments under the Strategic Compass such as the EU Hybrid Toolbox;
	(ii)	opportunities of cooperation among Union agencies and national authorities in the area of justice and home affairs, including for the purposes of information sharing, intelligence and advance detection mechanisms;
	(iii)	policies and recommendations outlined in the report of 30 October 2024 entitled ‘Safer Together – Strengthening Europe’s Civilian and Military Preparedness and Readiness’;
	(iv)	policies contributing to Union democratic processes, democratic resilience through situational awareness, media and information literacy, media pluralism and independent journalism, the promotion of civic engagement, education, critical thinking and citizens’ awareness and participation;
	(v)	democratic resilience against home-grown hybrid threats and attacks and malign interference;
	(vi)	interference using online platforms, in particular by evaluating, in-depth, the responsibility and effects that very large online platforms have on democracy and democratic processes in the Union;
	(vii)	impact of interference on critical infrastructure and strategic sectors, including foreign investment and ownership of property located in the Union;
	(viii)	hybrid threats and attacks, including but not limited to: cyberattacks including on military and non-military targets, human-made text and audiovisual content, as well as AI-generated content and ‘deepfakes’ used for the purpose of foreign interference and disinformation, interference in political institutions, economic influence or coercion, interference through global actors via elite capture, national diasporas, universities and cultural events, covert funding of political activities by malicious foreign actors and donors, foreign information manipulation and interference actions targeting Union action abroad and the exploitation of artificially created migration flows through an increased role of state actors;
	(ix)	policies ensuring a high common level of cybersecurity across the Union and resilience against cyberattacks, where related to democratic processes;
	(x)	the role of malicious state and non-state actors, their modus operandi and financing, as well as physical sabotage perpetrated by them;
	(xi)	the impact of interference on the rights of minorities and other discriminated groups;
	(xii)	deterrence, attribution and collective countermeasures, including sanctions;
	(xiii)	neighbourhood and global cooperation, and multilateralism;
	(xiv)	interference by Union-based actors both within the Union and in third countries;
	(xv)	policies and measures to preserve the fairness and integrity of elections, and to strengthen democratic checks and balances;
	(b)	to develop, in close cooperation with the competent standing committees, suggestions and proposals on how to further remedy these gaps in order to foster the Union’s resilience towards hybrid threats and attacks, including foreign information manipulation and interference, and on how to improve the Union’s legal and institutional framework;
	(c)	to assess the activities of the Commission and the European External Action Service regarding the fight against foreign information manipulation and interference and hybrid threats and attacks;
	(d)	to counter information campaigns and strategic communication of malign third countries, including those through domestic Union actors and organisations, that harm the goals of the Union and that are created to influence Union public opinion;
	(e)	to follow up, where relevant, on the implementation of the reports of the INGE 1 and INGE 2 special committees;
	(f)	to contribute to overall institutional resilience against foreign interference, hybrid threats, attacks and disinformation;
	(g)	to maintain relations with other Union institutions and bodies, Member States authorities, other international organisations and interparliamentary assemblies, civil society as well as state and non-state partners in relevant third countries for matters falling under its responsibility, in order to reinforce Union action against hybrid threats and attacks and internal and foreign information manipulation and interference; to engage particularly with state and non-state partners in Ukraine and Moldova and the pro-European partners in Georgia as well as the countries from the Western Balkans; to counter manipulated narratives coming from Russia, given the critical and continuous danger Russia poses to the stability and security in the whole of the Union;

2. Decides that, whenever the special committee work includes the hearing of evidence of a confidential nature, testimonies involving personal data, or exchanges of views or hearings with authorities and bodies on confidential information, including scientific studies or parts thereof granted confidentiality status under Article 63 of Regulation (EC) No 1107/2009 of the European Parliament and of the Council(11), the meetings shall be held in camera; decides further that witnesses and experts shall have the right to make a statement or provide testimony in camera;

3. Decides that the list of people invited to public meetings, the list of those who attend them and the minutes of such meetings, shall be made public;

4. Decides that confidential documents that have been received by the special committee shall be assessed in accordance with the procedure set out in Rule 227 of its Rules of Procedure, decides further that such information shall be used exclusively for the purposes of drawing up the final report of the special committee;

5. Decides that the special committee shall have 33 members;

6. Decides that the term of office of the special committee shall be 12 months and that that term of office shall start running from the date of its constituent meeting;

7. Decides that the special committee may present to Parliament a mid-term report; decides further that it shall present to Parliament at the latest during the part-session of January 2026 a final report focusing on the matters set out in paragraph 1 and containing factual findings and recommendations concerning the measures and initiatives to be taken, without prejudice to the competences of the standing committees in accordance with Annex VI to its Rules of Procedure; stresses that the recommendations of the special committee shall be taken into consideration by the competent standing committees in their work.

(1)	OJ L 277, 27.10.2022, p. 1, ELI: http://data.europa.eu/eli/reg/2022/2065/oj.
(2)	OJ L 265, 12.10.2022, p. 1, ELI: http://data.europa.eu/eli/reg/2022/1925/oj.
(3)	OJ C 184, 5.5.2022, p. 71.
(4)	OJ L 305, 26.11.2019, p. 17, ELI: http://data.europa.eu/eli/dir/2019/1937/oj.
(5)	OJ L 333, 27.12.2022, p. 164, ELI: http://data.europa.eu/eli/dir/2022/2557/oj.
(6)	OJ L, 2024/1083, 17.4.2024, ELI: http://data.europa.eu/eli/reg/2024/1083/oj.
(7)	OJ L, 2024/1069, 16.4.2024, ELI: http://data.europa.eu/eli/dir/2024/1069/oj.
(8)	OJ C 347, 9.9.2022, p. 61.
(9)	OJ C, C/2023/1226, 21.12.2023, ELI: http://data.europa.eu/eli/C/2023/1226/oj.
(10)	OJ C, C/2024/494, 23.1.2024, ELI: http://data.europa.eu/eli/C/2024/494/oj.
(11)	Regulation (EC) No 1107/2009 of the European Parliament and of the Council of 21 October 2009 concerning the placing of plant protection products on the market and repealing Council Directives 79/117/EEC and 91/414/EEC (OJ L 309, 24.11.2009, p. 1, ELI: http://data.europa.eu/eli/reg/2009/1107/oj).

MIL OSI Europe News –

January 27, 2025

MIL-OSI Europe: Text adopted – Amendment of Annex VI – Powers and responsibilities of the standing committees – P10_TA(2024)0064 – Wednesday, 18 December 2024 – Strasbourg

Source: European Parliament

The European Parliament,

– having regard to the proposal from the Conference of Presidents,

– having regard to its decision of 15 January 2014 on the powers and responsibilities of the standing committees(1),

– having regard to Rules 212, 218 and 219 of its Rules of Procedure,

1. Decides to set up a standing committee on Security and Defence and that the subcommittee on Security and Defence shall cease to exist; decides that the responsibilities of the committee on Foreign Affairs shall be amended accordingly;

2. Decides that the standing committee on Security and Defence shall be responsible for EU security and EU defence integration and cooperation including the issues related to the European Defence Agency, the permanent structured cooperation, the scrutiny of the common security and defence policy (CSDP), European Defence Industry and European defence industry funding where it contributes to the objectives of CSDP and related defence-exclusive measures of the European Union;

3. Decides to set up a standing committee on Public Health and that the subcommittee on Public Health shall cease to exist; decides that the name and the responsibilities of the committee on the Environment, Public Health and Food Safety shall be amended accordingly;

4. Decides that Annex VI to its Rules of Procedure is amended as follows:

(1) in Part I, paragraph 1, point 1 is replaced by the following:”‘1. the common foreign and security policy (CFSP);’”

(2) the following Part is inserted:”‘Ia. Committee on Security and Defence

Committee responsible for the promotion, implementation and monitoring of the common security and defence policy (CSDP) and related defence-exclusive measures of the Union as envisaged in Article 42(2) of the Treaty on European Union, including:

the developments threatening the territorial integrity of the Union and its Member States and the security of Union citizens;

the capabilities and assets for civilian and military CSDP missions outside the Union, complementary measures under the European Peace Facility (EPF) as well as other budget lines and financial instruments directly supporting or contributing to the CSDP framework;

the implementation and regular review of strategic defence decisions and policies;

the progressive framing of a common Union defence policy leading to a Common Defence Union and the alignment of CSDP instruments with other Union financial instruments, legislation and policies;

the capabilities to monitor and counter hybrid threats from outside the Union – including foreign information manipulation and interference (FIMI), cyber-defence, and related issues such as the protection of space assets, and the security of defence related critical infrastructure – within the limits of the CSDP and related defence-exclusive measures of the Union;

the defence capabilities, preparedness and resilience of the Union and its Member States, including defence-specific research, development and innovation, joint production and life-cycle management;

the measures, activities and instruments related to Union defence industrial integration and cooperation in pursuit of a single market for defence;

the military mobility infrastructure relevant to the defence readiness of the Union and its Member States and the capacities to protect that infrastructure from foreign threats, except in relation to TEN-T-related projects and dual-use transport infrastructure, where, when appropriate, advice shall be provided to the responsible Committee on Transport and Tourism;

the parliamentary oversight of defence-specific institutional Union structures and agencies, in particular:

	–	the Directorate-General of the EU Military Staff,
	–	the European Security and Defence College,
	–	the European Defence Agency (EDA),
	–	the Permanent Structured Cooperation (PESCO),
	–	the EU Satellite Centre within the limits of the CSDP and in establishing the European Defence Union, and
	–	the European External Action Service CSDP structure;

10.

initiatives, programmes and policies insofar as they aim to strengthen the European defence technological and industrial base and consolidate defence industrial cooperation aimed for exclusively military use by Member States and relevant Union capacities;

11.

defence-specific international agreements, depending on their content and scope, on security and defence, the external dimension of counter-terrorism, cyber defence, arms exports and control, disarmament and non-proliferation;

12.

relations with the Union’s security and defence partners, including NATO, the UN Department of Peace Operations, the Organization for Security and Co-operation in Europe (OSCE), and other international organisations, and with inter-parliamentary bodies for matters falling under the responsibility of the Committee on Security and Defence;

13.

political oversight and coordination with the work of the delegation for relations with the NATO Parliamentary Assembly and the possible future delegations with competences in the field of security and defence;

14.

multilateral frameworks for security, arms exports and control and non-proliferation issues, the external dimension of counter-terrorism, good practices to improve the effectiveness of security and defence, and the Union legal and institutional developments in those fields within the limits of the CSDP and related defence-exclusive measures of the Union;

15.

joint consultations, meetings and conferences on a regular basis to exchange information with the Council, the European External Action Service, and the Commission within the remit of the competences of the Committee on Security and Defence.’

”

(3) Part VIII is replaced by the following:”‘VIII. Committee on the Environment, Climate and Food Safety

Committee responsible for:

environmental and climate policy and protection measures, in particular concerning:

	(a)	climate change, adaptation, resilience and preparedness,
	(b)	environmental policy for the protection of public health,
	(c)	air, soil and water pollution, waste management and recycling, noise levels and the protection of biodiversity,
	(d)	chemicals, dangerous substances and preparations, pesticides and maximum residue levels, and cosmetics,
	(e)	sustainable development,
	(f)	international and regional measures and agreements aimed at protecting the environment,
	(g)	restoration of environmental damage,
	(h)	civil protection,
	(i)	the European Environment Agency and the European Chemicals Agency;

food safety issues, including in particular:

	(a)	the labelling and safety of foodstuffs,
	(b)	veterinary legislation concerning protection against risks to human health; public health checks on foodstuffs and food production systems,
	(c)	the European Food Safety Authority and the Commission’s Directorate for Health and Food Audits and Analysis.’

”

(4) the following Part is inserted:”‘VIIIa. Committee on Public Health

Committee responsible for public health matters related to:
	1.	pharmaceuticals and medical devices;
	2.	programmes and specific actions in the field of public health;
	3.	health crisis preparedness and response;
	4.	mental health and patients’ rights;
	5.	health aspects of bioterrorism;
	6.	the European Medicines Agency and the European Centre for Disease Prevention and Control;
	7.	relations with the World Health Organization concerning the above matters.’

”

5. Decides that the standing committee on Security and Defence shall have 43 members and that the standing committee on Public Health shall have 43 members;

6. Decides that the standing committee on Security and Defence committee shall cooperate with other committees, guided by the principle of good and sincere cooperation, notably with the Committee on Foreign Affairs;

7. Decides, with reference to the decisions of the Conference of Presidents of 30 June 2019 and 9 January 2020 relating to the composition of committee and subcommittee bureaux, that the bureaux of the standing committee on Security and Defence and of the standing committee on Public Health may each consist of up to four vice-chairs;

8. Decides that this decision will enter into force on the first day of the next part-session;

9. Instructs its President to forward this decision to the Council and the Commission, for information.

(1)	OJ C 482, 23.12.2016, p. 160.

MIL OSI Europe News –

January 27, 2025

MIL-OSI Europe: Text adopted – Recommendation to the Council on the EU priorities for the 69th session of the UN Commission on the Status of Women – P10_TA(2024)0075 – Thursday, 19 December 2024 – Strasbourg

Source: European Parliament

The European Parliament,

– having regard to the UN declaration of 15 September 1995 entitled ‘Beijing Declaration and Platform for Action’ and the outcomes of its review conferences,

– having regard to the 1979 UN Convention on the Elimination of All Forms of Discrimination against Women,

– having regard to Articles 21 and 23 of the Charter of Fundamental Rights of the European Union,

– having regard to the UN 2030 Agenda for Sustainable Development, the principle of ‘leaving no one behind’ and, in particular, Sustainable Development Goal (SDG) 5, which seeks to achieve gender equality,

– having regard to the UN Secretary-General’s report of 13 December 2019 to the UN Commission on the Status of Women entitled ‘Review and appraisal of the implementation of the Beijing Declaration and Platform for Action and the outcomes of the twenty-third special session of the General Assembly’,

– having regard to the joint communication from 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 ambitious agenda for gender equality and women’s empowerment in EU external action’ (JOIN(2020)0017) and the accompanying joint staff working document of 25 November 2020 entitled ‘Objectives and Indicators to frame the implementation of the Gender Action Plan III (2021-25)’ (SWD(2020)0284),

– having regard to the EU gender equality strategy for 2020-2025 of 5 March 2020,

– having regard to its resolution of 10 March 2022 on the EU Gender Action Plan III(1),

– having regard to the Committee on the Elimination of Discrimination against Women 2024 Inquiry concerning Poland, conducted under Article 8 of the Optional Protocol to the Convention,

– having regard to its resolution of 11 February 2021 on challenges ahead for women’s rights in Europe: more than 25 years after the Beijing Declaration and Platform for Action(2),

– having regard to the briefing entitled ‘Accelerating progress on Sustainable Development Goal 5 (SDG 5): Achieving gender equality and empowering women and girls’, published by its Directorate-General for Parliamentary Research Services on 18 September 2024,

– having regard to the UN Women and UN Department of Economic and Social Affairs report of September 2024 entitled ‘Progress on the Sustainable Development Goals: The Gender Snapshot 2024’,

– having regard to its resolution of 22 November 2023 on proposals of the European Parliament for the amendment of the Treaties(3),

– having regard to its resolution of 11 April 2024 on including the right to abortion in the EU Fundamental Rights Charter(4),

– having regard to Rule 121 of its Rules of Procedure,

– having regard to the report of the Committee on Women’s Rights and Gender Equality (A10-0030/2024),

A. whereas equality between women and men is a fundamental and universal principle of the EU, and whereas the EU’s external action must be guided by this principle, so that the EU continues to lead by example and further steps up and meets its commitments on gender equality;

B. whereas women’s and girls’ human rights and gender equality are not only fundamental human rights, but preconditions for advancing development and education and reducing poverty, and a necessary foundation for a peaceful, prosperous and sustainable world;

C. whereas 189 governments across the world, including the EU and its Member States, committed to working towards gender equality and empowering all women and girls at the 1995 Fourth World Conference on Women in Beijing;

D. whereas the Beijing Declaration and Platform for Action is the most comprehensive global agenda for promoting gender equality and is considered the international ‘Bill of Rights’ for women, defining women’s rights as human rights and articulating a vision of equal rights, freedom and opportunities for all women in the world, and was reaffirmed in 2015 with Goal 5, ‘Achieve gender equality and empower all women and girls’, of the sustainable development goals (SDGs) set out in the UN’s 2030 Agenda for Sustainable Development, by specifying targets and concrete measures across a range of issues affecting women and girls;

E. whereas the UN Assembly agreed in 2017 on a global indicator framework to standardise data collection, a key element for the comparability of data;

F. whereas just six years in advance of the 2030 deadline for the UN’s SDGs, not a single indicator under Goal 5 has been fully achieved; whereas the UN estimates that strong actions are needed in order to accelerate progress and to avoid taking 286 years to close gaps in legal protection and remove discriminatory legislation for women;

G. whereas gender equality is a cross cutting principle, to be mainstreamed across the SDGs;

H. whereas a 2024 UN study(5) on the evaluation of SDG 5 highlights that social norms still exist that legitimise gender-based violence against women and girls, without sufficient appropriate punishments against perpetrators, reduce access to health services, including sexual and reproductive health services, assign unpaid care and domestic work solely to women and restrict leadership opportunities; whereas women and girls can be still discriminated against through reproductive sex selection(6);

I. whereas the UN General Assembly has raised the alarm about the active resistance to achievements and advances in gender equality and the growing transnational backlash against women’s rights; whereas sexual and gender-based violence as well as anti-rights movements threaten the fundamental rights of women and girls on a daily basis; whereas there is a clear and urgent need to reaffirm, safeguard and develop gender equality and the human rights of women and girls(7);

J. whereas women’s sports competitions must be a celebration of sporting values; whereas all conditions must be met to ensure fairness within these competitions, to preserve the health of female athletes and to prevent physical and psychological violence against them;

K. whereas the Summit of the Future adopted document includes a specific action for achieving gender equality and the empowerment of all women and girls as a crucial contribution to progress(8);

L. whereas the rebels who brought down the regime in Syria are dominated by the Hayat Tahrir al-Sham (HTS) force; whereas the HTS group is an Islamist organisation classified as a terrorist organisation by the EU and the UN; whereas this situation raises serious concerns about the security of women and girls in the area;

M. whereas the UN’s Committee on the Elimination of Discrimination against Women, in an inquiry into Polish abortion law, has concluded that criminalising and restricting abortion discriminates against women;

1. Recommends that the Council:

	(a)	re-confirm its full and unwavering commitment to the Beijing Declaration and Platform for Action and to the range of actions for human rights of women in all their diversity and gender equality outlined therein; confirm its commitment to human rights of women, including sexual and reproductive health and rights, through gender mainstreaming in all relevant policy areas and cycles, to the implementation of specific and targeted actions for human rights of women and gender equality, and to ensuring proper gender budgeting;
	(b)	express its most profound opposition to the fact that Saudi Arabia is this year chair of CSW annual meeting and condemn any form of political instrumentation given that the country’s own record on women’s rights is abysmal and many of its policies contrary to the CSW’s own mandate and objectives; raise the systemic discrimination against women and persecution of women’s rights activists taking place in Saudi Arabia;
	(c)	ensure that gender equality and women’s and girls’ rights are fully and proudly implemented as a core part of EU external action through an adequately funded, gender-responsive, inclusive and intersectional approach, taking into account marginalised women and women in vulnerable situations, especially as the funding of anti-gender movements globally is on the rise(9);
	(d)	ensure the full involvement of Parliament and its Committee on Women’s Rights and Gender Equality in the decision-making process on the EU’s position at the 69th session of the UN Commission on the Status of Women (10-25 March 2025); ensure that Parliament has adequate, regular and timely information and access to the EU’s position document ahead of the negotiations; ensure the timely communication of Parliament’s position to the EU negotiating team; and further improve interinstitutional cooperation and informal consultation, including prior to and during negotiations, so that Parliament’s priorities are properly incorporated;
	(e)	conduct an annual review of the progress, and setbacks, encountered in the implementation of the Beijing Declaration and Platform for Action;
	(f)	pledge its strong support for the work of UN Women, which is a central actor in the UN system for advancing women’s rights, while committing to ensure its funding as well as increased finance for gender equality;
	(g)	reinvigorate the EU’s efforts to overcome remaining challenges and accelerate the full implementation of the Beijing Declaration and Platform for Action, as it is a universal document, and EU Member States are far from having achieved all targets; ensure that the EU leads by example by putting in place robust policy measures, coupled with adequate financing to prevent, address and combat gender inequality in all its manifestations, empower women in all their diversity in all EU countries and ensure the realisation of their rights;
	(h)	reiterate that the EU has an important role to play in achieving a gender-equal world through leading by example and supporting partner countries in addressing all types of direct and indirect discrimination and gender-based violence; recall the importance of the Istanbul Convention, urge the remaining five Member States that have still not ratified and implemented the Istanbul Convention to do so in the shortest possible timeframe, and also call on other countries to make progress towards signing and ratifying it;
	(i)	press for equal access to and opportunities in all areas of life, to allow women in all their diversity to fulfil their potential, notably also in decision-making, including political, economic, financial, academic, health, cultural and sports-related, this also being essential for good governance and policymaking; encourage initiatives that promote female political leadership and participation, strengthening democratic practices and inspiring future generations of women;
	(j)	within this context, express opposition to all forms of gender-based violence, including online or offline, as well as against women engaged in or wishing to engage in politics, which sustains and reinforces the invisibilisation of women and negative stereotypes about women and discourages women of all ages from entering politics and public spaces;
	(k)	encourage measures that promote women’s participation and gender balance in all high impact sectors, including STEM; stress the importance of combating gender stereotypes, attitudes and prejudices in all their dimensions, through all kinds of media, including social media, and promote programmes, including through public-private partnerships, to reduce discrimination against women in politics and public positions;
	(l)	emphasise that weak political guidance, lack of commitment, data gaps, insufficiently targeted investment, hate speech and hate campaigns, lack of access to relevant skills and knowledge, lack of economic opportunity and education, gender-related discrimination in the work place, including maternal mobbing, lack of economic autonomy and unequal conditions in the labour market, and the rise of anti-rights movements have been identified as obstacles and threats for women’s rights; thus making it necessary to encourage more women in politics and leadership, increase dedicated gender-equality-related investment in services such as education and health, and implement comprehensive rights-based and gender-responsive education, training and policy reforms to overcome these systemic structural barriers and achieve a truly equal society, for which the commitment and engagement of men and boys is essential;
	(m)	apply gender mainstreaming and gender budgeting more consistently in all relevant EU policy areas, including external action, and lead by example in this regard, committing that the next MFF 2027 will include gender-equality-specific objectives and gender budgeting methods to be able to increase and monitor all investments regarding gender impact;
	(n)	commit to constant appraisal and proactive corrective action in the EU’s internal and external policies in regard to gender equality, mainstreaming and budgeting;
	(o)	defend and recall the importance of the Women Peace and Security (WPS) Agenda and the 25th anniversary of its landmark resolution, to renew the WPS EU action plan and to vocally combat any pushbacks towards this agenda internationally;
	(p)	call on the Commission to further develop and roll out concrete and well-financed plans and actions to address the UN SDGs, specifically those related to gender equality, promoting equality in education;
	(q)	take the lead in the global fight against the backlash against gender equality and women’s rights, generated in particular by increasingly influential anti-rights movements, by condemning all attempts to roll back, restrict or remove existing protections for gender equality, including on sexual and reproductive health and rights, as well as all forms of threats, intimidation and harassment, online and offline, of human rights defenders and civil society organisations working to advance these rights; emphasise that anti-gender movements are not only attacking women’s rights and gender equality but go hand-in-hand with anti-democratic movements; promote partnerships and alliances to counteract regressive movements and reaffirm the EU’s commitment to protecting gender equality as a core value, including by ensuring that women’s rights movements are adequately funded;
	(r)	emphasise the need to protect and promote the rights of groups experiencing intersectional forms of discrimination, including people with disabilities and people who are from disadvantaged socio-economic backgrounds, racialised, from ethnic, minority or migrant backgrounds, older or LGBTIQ+, among others;
	(s)	work to promote the concept of combating intersectional discrimination throughout all UN bodies and to conduct, apply and integrate intersectional gender analysis at different levels in the EU and its Member States;
	(t)	urge the Commission to further develop and improve the collection of gender-disaggregated equality data on sex, race, colour, ethnic or social origin, genetic features, language, religion or other belief, political opinion, membership of a national minority, property, birth, disability, age or sexual orientation, sex characteristics and gender identity as well as geographically disaggregated data, including on a regional level, to ensure that this data contributes to better and more informed policymaking, and to reinforce the European Institute for Gender Equality both in terms of funding and capacity;
	(u)	commit to advancing towards a foreign, security and development policy that gives priority to gender equality, protects and promotes the human rights of traditionally marginalised groups, such as transgender people, and takes into account the voices of women and LGBTIQ+ human rights defenders and civil society;
	(v)	implement, without delay and to the fullest extent, the EU GAP III and ensure that 85 % of all new actions throughout external relations contribute to gender equality and women’s empowerment by 2027 at the latest;
	(w)	take note of and implement the recommendations of Parliament’s resolution of 10 March 2022 on the EU GAP III, and thus prioritise GAP III in every aspect of EU external action through a gender-responsive and intersectional approach, both in terms of GAP III’s geographical coverage and areas of action, as well as gender mainstreaming in all areas of external action, whether trade, development policy, migration, humanitarian aid, security or sectors such as energy, fisheries and agriculture, while enhancing the consistency between the EU’s internal and external policies;
	(x)	devise, fund and implement policies that combat the feminisation of poverty and reduce the role of gender as a factor in poverty both within and, through external action, outside of the EU, taking due note of intersectional factors, including sex, race, colour, ethnic or social origin, genetic features, language, religion or other belief, political opinion, membership of a national minority, property, birth, disability, age or sexual orientation, sex characteristics or gender identity;
	(y)	advocate for equal access to resources and equal opportunities for women in all regions, to achieve economic empowerment and enable access to social justice and to a better quality of life as a result of a global vision of gender equality; recognise the unique challenges faced by women living in rural, remote and least developed areas, where access to resources, healthcare, education, and economic opportunities may be limited; call for targeted measures and investments that address the needs of these communities, through the promotion of gender equality, female entrepreneurship and employment opportunities or infrastructure; stress the importance of integrating these perspectives into all relevant external action and development strategies to ensure no woman is left behind;
	(z)	address and monitor the systemic and root causes of female poverty with an emphasis on those in rural areas or isolated and disadvantaged areas, empower women and girls in all their diversity through education, training and lifelong learning, non-discriminatory labour opportunities, access to equal pay and pensions, and encourage employment programmes for women with disabilities;
	(aa)	promote female entrepreneurship and women-led businesses through an enabling environment for their economic activities, such as support programmes in partner countries, ensuring equitable access to business opportunities and training in entrepreneurial skills;
	(ab)	encourage initiatives that strengthen women’s economic autonomy and job creation in high-growth sectors, support initiatives that empower women economically, particularly women entrepreneurs and those leading micro, small and medium-sized enterprises, as well as fight stereotypes and combat persisting inequalities in education, as well as addressing women’s employment rate and under-representation in certain sectors like STEM and AI;
	(ac)	ensure access to social services, including family support services, equal shares of unpaid care and social responsibilities through legislative initiatives, efforts to combat harmful gender stereotyping, patriarchal attitudes and systems and promote women as role models, and work-life-balance policies that ensure access to digital education and skills training to bridge the digital gender divide; enable women’s access to ownership, property, adequate and affordable housing and land, eliminating barriers, with focus on addressing the specific needs of women, in particular those in poverty and female-led households;
	(ad)	call for further efforts, legislation and enforcement of existing measures to ensure the rights of women care workers and domestic workers as well as the recognition of informal carers, including single mothers, recognising their work as essential for making our society function; push for more ambitious care policies and investments in care with a view to advancing towards care economies, setting minimum standards and guidelines for care throughout the life cycle, with an intersectional perspective;
	(ae)	develop labour migration policies and programmes that are gender-responsive, including in highly ‘feminised’ and informal sectors such as domestic and care work, and which address the gendered barriers to women’s labour force participation and skills recognition;
	(af)	encourage, in the EU, the right to asylum, and the recognition, protection, support and integration of women who are victims of violence, whatever the form;
	(ag)	enhance the EU’s response, resources and toolkit, both internally and externally, regarding online and offline gender-based violence, including domestic, sexual, physical, psychological, verbal and economic violence, harassment at work, as well as violence in situations of conflict and war, trafficking, early and forced marriages and sexual and reproductive exploitation, noting that this should include support for the establishment of help centres for women victims of violence in non-EU countries, particularly in disadvantaged areas, similar to anti-violence centres, with a dual objective, namely: assisting in the recognition of situations of violence and providing both legal and practical protection and support for women who decide to report and exit violence;
	(ah)	advocate for a consent-based definition of rape as a universal standard across all regions, aiming to enhance legal protections and ensure that sexual violence is defined by the absence of consent, rather than solely by the use of force;
	(ai)	highlight the major impact of online gender-based violence on women’s and girls’ personal and professional lives, and on their mental and physical health;
	(aj)	underline the importance of enforcing international humanitarian law to safeguard the rights of women and girls in conflict; ensure that external agreements, including those related to border control and cooperation with non-EU countries, prioritise the safety of women and girls, stressing that the EU must ensure that partner countries uphold high human rights standards, particularly in preventing gender-based violence including trafficking for the purpose of sexual exploitation;
	(ak)	pay particular attention to the condition of Syrian women and children, including those from Christian minorities, who are more likely to be the particular target of an Islamist regime, as already seen in several Middle Eastern countries, such as Afghanistan and Iraq;
	(al)	promote the prevention of gender-based violence in sports by establishing a system to monitor and prevent such violence within sports institutions, requiring organisations to adopt preventive policies and measures, along with a secure and protected reporting mechanism;
	(am)	remove the legal, financial, social and practical barriers and restrictions on access to safe and legal abortion worldwide; advocate firmly for the defence of sexual and reproductive health and rights as fundamental rights and fight against anti-choice networks; ensure that women and girls in all their diversity have information and access to affordable health services, including for sexual and reproductive health and rights, in line with international human rights and public health standards, including comprehensive age-appropriate and scientifically accurate sexuality and relationship education, access to contraception and emergency contraception, safe and legal abortion, respectful maternal healthcare and care-based health services; ensure that women are protected from forced pregnancies and sex-selective or forced abortions, particularly in the context of ethnic cleansing practices, and that in no case should abortion be promoted as a method of family planning, as mentioned in the Beijing Declaration; emphasise the importance of access to mental health services tailored to the specific needs of women and girls;
	(an)	promote dignified and human rights-respectful conditions for incarcerated women who are also mothers, with special attention to the needs of mothers with young children; support access to healthcare, psychological care and rehabilitation programmes, ensuring adequate spaces to maintain the bond with their children;
	(ao)	take note of and implement the recommendations of the European Parliament’s resolution of 11 April 2024 on including the right to abortion in the EU Fundamental Rights Charter;
	(ap)	commit to increase efforts to address gender issues in the context of the green and energy transition, recognising that the climate crisis is not gender-neutral; acknowledge the intersectional and disproportionate impact of climate change on women and girls, particularly in developing countries, as well as in the regions and rural areas most affected by these changes; advocate for the inclusion of women in environmental decision-making processes to build resilience and gender-responsive strategies;
	(aq)	advocate for and strengthen civil society organisations working to advance women’s and girls’ rights and gender equality in all circumstances including disability, violence, discrimination in the workplace or motherhood; advocate for the provision of safe spaces and shelters for women and girls suffering violence or threats; ensure the protection of human rights defenders, and their participation in the relevant forums;
	(ar)	work to ensure that grassroots organisations and women’s and LGBTIQ+ rights defenders, especially small organisations, are supported through the provision of adequate funding and the removal of restrictions that impede their ability to operate; provide targeted measures and capacity-building support to grassroots women’s organisations to amplify their impact at the local and international levels; actively work against initiatives aimed at diminishing the civic space globally;
	(as)	establish a Council Configuration on Gender Equality and Equality, to create a formal forum for the ministers responsible for the matters of equality to foster cooperation, coordinate policies and exchange best practices among Member States;

2. Instructs its President to forward this recommendation to the Council, and for information, to the Commission.

(1)	OJ C 347, 9.9.2022, p. 150.
(2)	OJ C 465, 17.11.2021, p. 160.
(3)	OJ C, C/2024/4216, 24.7.2024, ELI: http://data.europa.eu/eli/C/2024/4216/oj.
(4)	Texts adopted, P9_TA(2024)0286 .
(5)	UN, ‘Are we getting there? A synthesis of UN system evaluations of SDG 5’, March 2024, https://www.unwomen.org/en/digital-library/publications/2024/03/are-we-getting-there-a-synthesis-of-un-system-evaluations-of-sdg-5.
(6)	Office of the High Commissioner for Human Rights, UN Population Fund, UN Women, UNIFCEF, World Health Organization, ‘Preventing gender-biased sex selection: an interagency statement’,2011, https://www.unfpa.org/sites/default/files/resource-pdf/Preventing_gender-biased_sex_selection.pdf
(7)	UN General Assembly, ‘Escalating backlash against gender equality and urgency of reaffirming substantive equality and the human rights of women and girls: Report of the Working Group on discrimination against women and girls’, 15 May 2024, https://documents.un.org/doc/undoc/gen/g24/073/47/pdf/g2407347.pdf. .
(8)	UN, ‘Summit of the Future outcome documents: Pact for the Future, Global Digital Compact and Declaration on Future Generations’, September 2024, https://www.un.org/sites/un2.un.org/files/sotf-pact_for_the_future_adopted.pdf.
(9)	Datta, N., European Parliamentary Forum for Sexual and Reproductive Rights, ‘Tip of the Iceberg– Religious Extremist Funders against Human Rights for Sexuality and Reproductive Health in Europe 2009 – 2018’ June 2021, https://www.epfweb.org/sites/default/files/2021-08/Tip%20of%20the%20Iceberg%20August%202021%20Final.pdf.

MIL OSI Europe News –

January 27, 2025

MIL-OSI Europe: Text adopted – Setting up a special committee on the Housing Crisis in the European Union, and defining its responsibilities, numerical strength and term of office – P10_TA(2024)0066 – Wednesday, 18 December 2024 – Strasbourg

Source: European Parliament

The European Parliament,

– having regard to the proposal from the Conference of Presidents,

– having regard to the Treaty on European Union (TEU), in particular Article 3(3) thereof, and the Treaty on the Functioning of the European Union (TFEU), in particular Articles 9, 14, 148, 153, 160 and 168 thereof, and Protocol No 26 to the TEU and to the TFEU on services of general interest,

– having regard to the Charter of Fundamental Rights of the European Union,

– having regard to the European Pillar of Social Rights,

– having regard to its resolution of 21 January 2021 on access to decent and affordable housing for all(1),

– having regard to Rule 213 of its Rules of Procedure,

A. whereas the United Nations Universal Declaration of Human Rights includes the right to housing;

B. whereas the European Pillar of Social Rights states that access to social housing or housing assistance of good quality is to be provided for those in need and this is to be implemented at both Union and national level within their respective competences; whereas adequate shelters and services are to be provided to the homeless in order to promote their social inclusion; whereas the right to housing for people with disabilities deserves special protection and dedicated policies to ensure housing accessibility;

C. whereas the European Union is facing a housing crisis, with people of all ages across different income groups struggling with high prices and scarcity of affordable homes; whereas unaffordable housing is a matter of great concern for many Union citizens and prevents them, particularly young people, from starting an independent life; whereas that crisis affects people in all Member States and can have a negative impact on their health, well-being and living conditions;

D. whereas protecting private property and ensuring legal certainty for private owners, including best practices in relation to the fight against squatting, as well as protecting people from evictions, are important aspects at national level affecting housing availability and the right to housing in certain Member States;

E. whereas the Union has a number of competences relating to housing;

F. whereas there is a need to have an holistic approach on housing combining different policies dealt with in different committees within Parliament;

1. Decides to set up a special committee named ‘Special committee on the Housing Crisis in the European Union’ with the aim of proposing solutions for decent, sustainable and affordable housing, and that that committee shall carry out, in cooperation and consultation with the competent standing committees where their powers and responsibilities under Annex VI to the Rules of Procedure are concerned, the following responsibilities:

	(a)	to map current housing needs across territories and population groups, particularly low and middle income groups, and to assess the impact of scarcity of housing on inequalities, affordability, demography, poverty and social exclusion, including using existing gender-disaggregated data;
	(b)	to analyse the existing relevant Union, national, regional, and local housing policies with a focus on the availability of targeted instruments for social, sustainable and affordable housing in cities, islands and coastal and rural areas with a view to identifying and issuing recommendations, including policies dedicated to housing accessibility for people with disabilities and reduced mobility;
	(c)	to analyse the impact of housing speculation and its economic consequences, as well as to propose follow-up actions;
	(d)	to assess whether the trend in house prices and rents is adequately taken into account in the cost of living indicators and related policies;
	(e)	to map and to assess the effectiveness of public and private Union and national resources, including existing Union funds dedicated to decent, sustainable and affordable housing and to the eradication of homelessness and to make recommendations, where relevant;
	(f)	to analyse systemic issues with short-term accommodation rentals and their impact on the availability of affordable housing in particularly affected areas and to make relevant proposals;
	(g)	to monitor the implementation of the Union legislation on data collection and sharing relating to short-term accommodation rental services, which has to be adopted at national level by 20 May 2026;
	(h)	to analyse effects of Union policies that influence the availability and affordability of housing, including bottlenecks in current Union regulations with regard to investment capacity, on housing and social housing, State aid and supply chain shortages;
	(i)	to assess potential barriers affecting the construction sector and their impact on the housing crisis;
	(j)	to identify shortages in availability, sustainability and financing needs for affordable housing and the need for potential reforms;
	(k)	to assess the impact of non-profit and limited-profit housing solutions, such as social or cooperative housing, on the affordability and accessibility of housing for different groups;
	(l)	to assess policies and legislative proposals needed to improve the provision and availability of decent, sustainable and affordable housing, including by enabling new construction, housing reconversion and renovation programs, taking into consideration the potential of vacant buildings;
	(m)	to map innovative technologies, processes, services and products to support the renovation wave, taking into account existing Union initiatives; to map where administrative and regulatory burdens are hampering the renovation wave, with the aim of reducing unnecessary regulatory burden while ensuring quality work in the construction sector and quality standards for affordable housing;
	(n)	to contribute to the development and the future implementation of the European affordable housing plan and the European strategy for housing construction to be presented by the Commission;
	(o)	to conduct hearings with experts from the Union institutions and competent authorities, international, national and regional institutions, non-governmental organisations and relevant sectors of the economy, taking into account the perspectives of a range of stakeholders;
	(p)	to conduct visits to study best practices around Europe;

2. Decides that the special committee shall have 33 members;

3. Decides that the term of office of the special committee shall be 12 months and that that term shall start running from the date of its constituent meeting;

4. Instructs the special committee to present a final report at the end of its term of office focusing on the matters set out in paragraph 1.

(1)	OJ C 456, 10.11.2021, p. 145.

MIL OSI Europe News –

January 27, 2025

MIL-OSI: Mountain America Credit Union Boosts BroncoLife with First Down Donation Program

Source: GlobeNewswire (MIL-OSI)

BOISE, Idaho, Dec. 20, 2024 (GLOBE NEWSWIRE) — As the official credit union of the Boise State Broncos, Mountain America Credit Union continues its support of BroncoLife through the First Down donation program. Through this unique program, the credit union committed a donation to BroncoLife for every first down completed by the BSU football team in 2024. This year, those first downs added up to $15,000, which will help BroncoLife continue its mission of empowering student-athletes to reach their full potential both in school and on their future career paths.

A Media Snippet accompanying this announcement is available by clicking on this link.

“Community service is integral to our core values, and Mountain America is proud to participate in the First Down donation program,” said Nathan Anderson, executive vice president and chief operating officer at Mountain America. “We value the lasting contributions BroncoLife makes to the lives of families and students in the Treasure Valley and beyond.”

During the November 29, 2024, game, Mountain America presented a check for $15,000 to Associate Athletic Director Sara Whiles, Buster Bronco, and fellow Boise State Athletics associates. Since 2019, Mountain America has donated over $90,000 to BroncoLife.

“We are so grateful Mountain America Credit Union continues to recognize and support the BroncoLife program,” Whiles said. “With investments like theirs we can provide opportunities that assist in the development of student-athletes and ultimately prepare them for life after sports.”

For more information about Mountain America’s community involvement activities, visit macu.com/newsroom.

About Mountain America Credit Union
With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.

The MIL Network –

January 27, 2025

MIL-OSI: NBT Bancorp Inc. Receives Regulatory Approval, Evans Bancorp, Inc. Shareholders Approve Merger

Source: GlobeNewswire (MIL-OSI)

NORWICH, N.Y. and WILLIAMSVILLE, N.Y., Dec. 20, 2024 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT”) (NASDAQ: NBTB) announced that it has received regulatory approval to complete the proposed merger (the “Merger”) of Evans Bancorp, Inc. (“Evans”) (NYSE American: EVBN) with and into NBT and Evans Bank, N.A. (“Evans Bank”) with and into NBT Bank, N.A. (“NBT Bank”). The Office of the Comptroller of the Currency approved the merger of Evans Bank with and into NBT Bank, and NBT received a waiver from the Federal Reserve Bank of New York for any application with respect to the merger of Evans with and into NBT.

On December 20, 2024, the shareholders of Evans voted to approve the Merger. Evans reported over 75% of the issued and outstanding shares of Evans were represented at a special shareholder meeting and over 96% of the votes cast were voted to approve the Merger.

“We are pleased that we have received the necessary regulatory approvals to proceed with the Merger and that Evans shareholders have demonstrated strong support for the partnership that will bring NBT and Evans together,” said NBT President and CEO Scott A. Kingsley. “Team members from NBT and Evans have been working closely to plan for a smooth transition in the second quarter of 2025, and we look forward to continuing to build on the relationships Evans has established with their customers, communities and shareholders as we extend NBT’s footprint in Upstate New York into the attractive Buffalo and Rochester markets.”

“These approvals are important milestones in the merger process, and we are grateful that Evans shareholders have so positively endorsed this strategic partnership,” said David J. Nasca, Evans President and Chief Executive Officer. “Joining the NBT family will benefit our customers and communities as they will continue to be served by a combined organization upholds our shared culture and values, maintains our relationship-focused approach, and offers an elevated suite of financial products and services.”

On September 9, 2024, NBT, Evans, NBT Bank and Evans Bank entered into an Agreement and Plan of Merger pursuant to which Evans will merge with and into NBT in an all-stock transaction, and immediately after, Evans Bank will merge with and into NBT Bank. This Merger will bring together two highly respected banking companies and extend NBT’s growing footprint into Western New York. The Merger is expected to close in the second quarter of 2025 in conjunction with the system conversion, pending customary closing conditions.

About NBT Bancorp Inc.
NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.84 billion at September 30, 2024. NBT primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 155 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and https://www.nbtbank.com/Insurance.

About Evans Bancorp, Inc.
Evans is a financial holding company headquartered in Williamsville, NY, with total assets of $2.28 billion at September 30, 2024. Its primary subsidiary, Evans Bank, N.A., is a full-service community bank with 18 branches providing comprehensive financial services to consumer, business and municipal customers throughout Western New York. More information about Evans is available online at www.evansbancorp.com and www.evansbank.com.

Forward-Looking Statements
This communication contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about NBT and Evans and their industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding NBT’s or Evans’ future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to NBT or Evans, are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should” and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.

Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) the businesses of NBT and Evans may not be combined successfully, or such combination may take longer to accomplish than expected; (2) the cost savings from the merger may not be fully realized or may take longer to realize than expected; (3) operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; (4) the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (5) diversion of management’s attention from ongoing business operations and opportunities; (6) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all and to successfully integrate Evans’ operations and those of NBT; (7) such integration may be more difficult, time consuming or costly than expected; (8) revenues following the proposed transaction may be lower than expected; (9) NBT’s and Evans’ success in executing their respective business plans and strategies and managing the risks involved in the foregoing; (10) the dilution caused by NBT’s issuance of additional shares of its capital stock in connection with the proposed transaction; (11) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (12) legislative and regulatory changes. Further information about these and other relevant risks and uncertainties may be found in NBT’s and Evans’ respective Annual Reports on Form 10-K for the fiscal year ended December 31, 2023 and in subsequent filings with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date they are made. NBT and Evans do not undertake, and specifically disclaim any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.

Contacts	NBT Bancorp Inc.	Evans Bancorp, Inc.

	Scott A. Kingsley President and Chief Executive Officer	David J. Nasca President and Chief Executive Officer

	Annette L. Burns EVP and Chief Financial Officer	John B. Connerton EVP and Chief Financial Officer

	607-337-6589	716-926-2000

		Evans Investor Relations Deborah K. Pawlowski, Alliance Advisors dpawlowski@allianceadvisors.com 716-843-3908

This press release was published by a CLEAR® Verified individual.

The MIL Network –

January 27, 2025

MIL-OSI Asia-Pac: Empowering Youth and Revitalizing Sports: Minister of State Youth Affairs & Sports Raksha Khadse Highlights Government Initiatives in Press Meet
Source: Government of India

Posted On: 20 DEC 2024 8:23PM by PIB Delhi

Minister of State for Youth Affairs and Sports, Smt. Raksha Khadse, addressed a press conference today in New Delhi, where she deliberated on various initiatives undertaken by the Government of India for the youth. Additionally, she reviewed multiple facets of the sports sector. The key highlights are as follows:

India has witnessed unprecedented progress in youth empowerment since 2014, focusing on key areas such as employment generation, support for MSMEs, promotion of startups, formalization of the economy, encouragement of research and development, skill enhancement, and fostering sports excellence and fitness. These initiatives align with the vision of “Sabka Saath, Sabka Vikas” and “Aatmnirbhar Bharat,” paving the way for a developed India by 2047.

Key Highlights:
1. Youth Development Priorities:
  - The Union Budget 2024-25 allocated ₹3,442.32 crore for skill development, internships, and employment generation, marking a threefold increase from ₹1,219 crore in 2013-14.
  - National Youth Policy 2014 provides a robust framework to maximize youth potential by 2030.
2. Employment and Skill Development:
  - Unemployment rate reduced to 3.2% in 2023-24.
  - Initiatives like PMKVY (Pradhan Mantri Kaushal Vikas Yojna) and DDU-GKY (Deen Dayal Updhyay Gramin Kaushal Yojna) have trained millions, with significant employment outcomes.
  - EPFO achieved record growth in July 2024 by adding 19.94 lakh net members.
  - The highest growth was observed in the 18-25 age group, with 8.77 lakh net additions in July 2024. This marks the largest increase for this demographic since records began and reflects the continued trend of young people, mostly first-time job seekers, entering the organized workforce
  - Around 3.05 lakh new female members joined EPFO in July 2024, reflecting a year-over-year growth of 10.94%.
  - Maharashtra led among the States/UTs, contributing 20.21% of the total new members.
3. Economic and Startup Growth:
  - India now hosts 1.4 lakh recognized startups and 117 unicorns, making it the world’s third-largest startup hub.
  - Schemes like PMMY (Pradhan Mantri Mudra Yojna) and Stand-Up India have empowered entrepreneurs, especially women and marginalized communities.
4. Sports and Fitness:
  - Record-breaking performance at the 2024 Asian Games with 107 medals (with 28 gold).
  - Enhanced investment in Khelo India and TOPS programs contributed to Olympic (6 medals) and Paralympic (29 medals) success.
  - Khelo India Budget increased from 596 crore to 900 crore.
5. Women Empowerment:
  - Initiatives like the Nari Shakti Adhiniyam and Sukanya Samruddhi Yojana underscores the government’s commitment to gender equality.
India’s strides in youth-centric policies and initiatives highlight its commitment to fostering a robust and inclusive ecosystem, ensuring every young Indian contributes to nation-building.

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HP

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Read this release in: Hindi

MIL OSI Asia Pacific News –
January 27, 2025
MIL-OSI Asia-Pac: “JAM(Jan Dhan, Aadhar, Mobile)TRINITY and digital revolution: A Decade of Financial Inclusion, Transparency and Corruption Free India”

Source: Government of India

“JAM(Jan Dhan, Aadhar, Mobile)TRINITY and digital revolution: A Decade of Financial Inclusion, Transparency and Corruption Free India”

Ayushman Bharat: Path towards an Inclusive Healthcare Paradigm

There are more than 54 crore Jan Dhan Yojana accounts, with a total deposit balance of approximately ₹2.39 lakh crore- an increase of over 15 times since its inception.

37.02 crore RuPay cards have been issued to PMJDY account holders

In FY 2023-24, UPI transactions reached ₹200 lakh crore, a 138% increase from 2017-18.

UPI now operational in seven countries and more than 40% of the global real-time payment transactions are happening in India.

As on 30.11.2024, approximately 36 crore Ayushman cards have been created across the country and a total of around 29,929 hospitals are empaneled under the scheme including 13,222 private hospitals

AB-PMJAY is presently implemented in 33 States/UTs across the country.

Posted On: 20 DEC 2024 7:29PM by PIB Delhi

Modi Government has been working for the poor and more than 200 schemes have been launched in the last 10 years for the welfare of the 140 crore people of the nation, said Union Minister of State for Corporate Affairs and Road, Transport and Highways,Shri Harsh Malhotra. Shri Malhotra was addressing a Press Conference on impact of path breaking reforms of JAM(Jan Dhan Yojna, Aadhar& Mobile) Trinity Schemes,Digital Transactions and AYUSHMAN BHARAT-PM JAY.

Shri Malhotra stated that under the visionary leadership of PM Shri Narendra Modi, Pradhan Mantri Jan Dhan Yojana (PMJDY) has solved a significant portion of India’s population by bringing them into the banking ecosystem. At present, there are more than 54 crore accounts, with a total deposit balance of approximately ₹2.39 lakh crore- an increase of over 15 times since its inception. The scheme has been particularly successful in rural ,semi-urban areas and amongst women, with around 66% of accounts coming from these regions. Furthermore, 37.02 croreRuPay cards have been issued to PMJDY account holders, with the average deposit per account rising significantly, reflecting increased usage and savings behaviour. The World Bank has also acknowledged that India has achieved its financial inclusion goals in just six years, a feat that would have taken 47 years without its advanced Digital Public Infrastructure.

PM-Jan Dhan Yojna coupled with JAM Trinity has become the world’s largest Financial inclusion program. Now, every rupee released from central Government reaches to the intended beneficiary directly without any middlemen which has further led to the enhancement of Indian Economy . The once neglected poor section of the country has been linked with the rising Indian Economy.This has been made possible with a mission-mode approach that involved both the government and the public.The Minister highlighted that JAM Trinity has driven the nation’s digital revolution and enhance transparency within the financial ecosystem. The government’s focus for the initiative is maximising value for every rupee spent, empowering the poor, and ensuring technology penetration among the masses has been achieved.The JAM Trinity has played a pivotal role in facilitating this progress, enabling more effective and inclusive financial transactions, particularly through Direct Benefit Transfers (DBT). This system has not only ensured subsidies and benefits reach the underprivileged directly but also reduced corruption and eliminated fake beneficiaries. The average deposits in the Jan Dhan Accounts as on 14.8.2024 is Rs 4352. The government has fought against poverty on all fronts and consequently,25 crore have come out of poverty in the last 10 years. Delhi alone has 65 lakh PM Jan Dhan Accounts with a total deposit of Rs 3114 crores along with 50 lakh beneficiaries of RuPAY Cards. 2,59,000 women have been benefited from the PM Ujjwala Scheme

Minister of State emphasised that the success of PMJDY and the JAM trinity has brought greater financial inclusion, empowering citizens with access to banking services while promoting transparency and curbing corruption.PMJDY has not only transformed the financial landscape for millions of Indians but also paved the way for India to emerge as a global leader in digital financial inclusion. About 10 crore fake beneficiaries have been weeded out from the system which has helped in prevent Rs 2.75 lakh crore from going into wrong hands.

Shri Malhotra stated that India’s digital payment landscape has also seen exponential growth, with UPI transactions expanding rapidly. In FY 2023-24, UPI transactions reached ₹200 lakh crore, a 138% increase from 2017-18. This growth in digital payments has positioned India as a global leader in this domain, with UPI now operational in seven countries, further boosting financial inclusion and remittance flows. Through the continued expansion of digital payment solutions and initiatives like UPI, India is setting new benchmarks for economic empowerment and financial transparency and also mentioned that more than 40% of the global real-time payment transactions are happening in India.

The Government’s focus on inclusive healthcare ensured that, India was just the fifth country to develop the COVID Vaccine and successfully executed the world’s largest vaccine program in which 221 crore doses were administered to the people of the nation.

Minister of State highlighted that Ayushman Bharat- PradhanMantri Jan Arogya Yojana (AB-PMJAY) which was launched on 23.09.2018 with an aim to provide health cover of Rs. 5 lakh per family per year for secondary and tertiary care hospitalisation. AB-PMJAY is presently implemented in 33 States/UTs across the country.

In March 2024, 37 lakh families of ASHA, Anganwadi Worker and Anganwadi Helpers were also included in the scheme.

Shri Malhotra mentioned that on 29.10.2024, the Government of India expanded the scheme to provide free treatment benefits of up to ₹5 lakh per year on a family basis to all senior citizens aged 70 years and above, irrespective of their socio-economic status. As on 30.11.2024, approximately 36 crore Ayushman cards have been created across the country and a total of around 29,929 hospitals are empaneled under the scheme including 13,222 private hospitals, to ensure delivery of quality healthcare services to the beneficiaries. Further, a total of around8.39 crore hospital admissions worth aroundRs. 1.16 lakh crore have been authorized under the scheme.

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DSK

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MIL OSI Asia Pacific News –

January 27, 2025
MIL-OSI Europe: EIB Group donates €300 000 to NGOs helping communities affected by flooding in Spain
Source: European Investment Bank
- The EIB Group – through the EIB Institute, the group’s philanthropic and social impact arm – will donate €300 000 to the NGOs Save the Children, SOS Children’s Villages and Casa Caridad to support communities affected by flash flooding in Spain.
- The funds will be used to provide psychosocial support, create suitable conditions for children’s schooling and restore housing to a liveable state.
- This donation comes in addition to an initial financial package of €900 million launched by the EIB Group in November to support recovery and reconstruction in the affected areas.
- The EIB Group will channel an additional 400 million through financial institutions to support SMEs and mid-caps affected by the floods.
The EIB Institute, the philanthropic and social impact arm of the European Investment Bank Group (EIB Group), has announced a donation of €300 000 to support communities affected by the flash flooding that devastated parts of Spain on 30 October and in the first few days of November. The donation will be channelled through the NGOs Save the Children Spain, SOS Children’s Villages and Casa Caridad.

The floods have left many communities in urgent need of help. This donation by the EIB Institute will lend critical support for residents to restore decent living conditions. With the funds, Save the Children Spain will provide psychosocial support and create adequate learning conditions for children, SOS Children’s Villages will give communities administrative assistance and help them meet essential needs, and Casa Caridad will help families restore their homes.

The EIB Group is thus continuing to increase its support for recovery and reconstruction in the parts of eastern and south-eastern Spain hardest hit by the storms. This includes a €900 million initial response package announced by the group on 6 November to reschedule and accelerate planned disbursements and thereby facilitate the reconstruction of critical infrastructure to be carried out by regional authorities and public bodies in the affected areas, as was also done following the floods in Central Europe in September.

The EIB has also launched operations to channel approximately €400 million through financial institutions to support SMEs and mid-caps affected by the floods, with a first agreement with Banco Sabadell.

“The EIB Group has been quick to mobilise to support recovery efforts in the aftermath of the devastating floods in Spain. Today, we supplement our lending with this donation from the EIB Institute, as a sign of our solidarity and commitment to helping the hardest hit communities,” said EIB President Nadia Calviño.

“The EIB Institute has a long track record of responding to humanitarian crises with swift, impactful support. Over the past decade, we have consistently prioritised providing aid to the most vulnerable, such as children, single-parent and large families, elderly people, people with disabilities and those suffering from malnourishment. Our donations have reached countless individuals, providing critical aid and building resilience in communities around the world. Our mission is to bring hope and relief to those in need, wherever they may be,” said EIB Institute Director Shiva Dustdar.

The EIB Institute regularly grants aid in response to crises and natural disasters, and donates IT equipment from the EIB. In 2023, EIB donations through the EIB Institute helped populations affected by the war in Ukraine, the earthquake in Türkiye and Syria and the flooding in Slovenia, among other events.

Background information

European Investment Bank

The EIB is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, consisting of the European Investment Bank and the European Investment Fund, reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Overall, the EIB Group signed €88 billion in new financing in 2023.

The EIB Institute was set up within the EIB Group to foster thought-leadership and impact initiatives with European stakeholders and the public at large.
MIL OSI Europe News –
January 27, 2025
MIL-OSI Europe: France: EIB and Rhône department sign first finance contract for lower secondary school construction and refurbishment
Source: European Investment Bank
- The EIB will provide a 25-year loan of €45 million for seven collèges (lower secondary schools) in the department.
- The collèges will be highly energy efficient following the work, reducing their carbon footprint and making operating cost savings.
- This is the first time the EIB has lent funds to the Rhône department in France.
The European Investment Bank (EIB) and the Rhône department have signed a 25-year, €45 million finance contract to help modernise educational facilities and adapt them to local demand, with a view to improving the quality of secondary-level education in the area.

With this funding, the department will be able to improve the quality of the infrastructure of seven new or refurbished collèges. The project also includes investments in digital equipment and the refurbishment of schoolyards.

The collèges will be highly energy efficient following the work, enabling energy use reduction goals to be achieved and making operating cost savings. Climate change adaptation measures will also be included.

This project is fully in line not only with the department’s education efforts (2025 New Collèges Plan), but also with the green transition set out in its low-carbon strategy.

The project focuses on the construction, reconstruction or refurbishment of collèges. It will enable the department to support the adaptation of its network of educational facilities to local demand. This investment will make school infrastructure more resilient to climate risk and school buildings more energy efficient. The work carried out will include a wide range of solutions to adapt to global warming, such as sunshades, rainwater retention systems to supply water for toilet facilities in particular, and permeable soil solutions.

The project will benefit around 4 020 students enrolled in the department’s lower secondary schools (20% of all students in the department’s collèges). Around 30 000 m² of educational facilities will be built, expanded or refurbished as part of this project.

EIB Vice-President Ambroise Fayolle said: “Investing in education is a priority for the EIB, the EU bank. We are very pleased with the trust placed in us by the Rhône department, which we are supporting for the first time in the financing of its public infrastructure. This project will also contribute to the low-carbon transition of collèges through improved energy efficiency and reduced operating costs.”

Christophe Guilloteau, president of the Rhône department, said: “We are delighted to sign this maiden financing contract with the EIB, which will enable us to carry out the ambitious educational infrastructure projects of our Rhône Bâtisseur programme, such as the 2025 New Collèges Plan.”

Background information

About the European Investment Bank (EIB)

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. In the education sector, which is one of its priorities, the EIB financed investment projects in France in 2023 to the tune of more than €900 million, a figure that has risen sharply. The EIB finances education infrastructure from nursery schools to higher education in both the public and private sectors. In secondary education, it recently financed school construction and refurbishment projects for lower secondary schools in six departments and for upper secondary schools in the Brittany and Île-de-France regions. In higher education, it financed refurbishment projects on the campuses of CentraleSupélec in Saclay, École Polytechnique in Palaiseau and INSEAD in Fontainebleau.

About the Rhône department

The department’s policy regarding collèges relates both to education itself and to work in schools. The educational aspect concerns pupils in the 33 public collèges and the 19 private collèges under contract in the Rhône department (upkeep, catering and maintenance), adaptation to changes in numbers (location and size of collèges, prospective students, allocation of schools by catchment area, transitional measures), development of cross-cutting and multidisciplinary educational actions in the collèges, and also covers the 12 training centres for young people in the Rhône department (environment, sustainable development, food, health, law, ensuring memory of past events, sport, culture). In this context, the department is carrying out major refurbishment work and constructing public collèges to provide the best learning conditions for young people and the best working conditions for all staff and the educational community in the Rhône department.
MIL OSI Europe News –
January 27, 2025
MIL-OSI Europe: Written question – Driving decarbonisation: leveraging quantum computing for Europe’s clean industrial future – E-002937/2024
Source: European Parliament
13.12.2024

Question for written answer E-002937/2024
to the Commission
Rule 144
Lídia Pereira (PPE), Sebastião Bugalho (PPE), Paulo Cunha (PPE), Hélder Sousa Silva (PPE)

In order to decarbonise growth, we need to grow decarbonisation. Quantum computing will reshape the economics of decarbonisation, advancing transformative innovation across cleantech applications and enabling a greenhouse gas reduction of up to 7 gigatonnes by 2035. The quantum market could be as large as EUR 78 billion by 2040. As pointed out by the Draghi report, today ‘five of the top ten tech companies globally in terms of quantum investment are based in the US, four in China and none in the European Union’. Given Executive Vice-President of the Commission Stéphane Séjourné’s task to ensure the industrial application of quantum computing is at the heart of our economy, how is the new Commission planning to harness quantum computing’s potential in the Clean Industrial Deal considering:

1.a pan-European strategy for quantum applications in clean technologies, driven by public funding and supported by a comprehensive capacity-building plan for the quantum and clean tech industries;

2.the promotion of public-private partnerships in the form of centres of excellence to incentivise research and development (R&D) investment in quantum computing by the private sector;

3.the proactive involvement of European universities in the development of the skills and knowledge at the heart of a quantum economy for clean technologies.

Submitted: 13.12.2024
Last updated: 20 December 2024
MIL OSI Europe News –
January 27, 2025

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