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Category: Economy

  • MIL-OSI USA: SBA to Open Virtual Business Recovery Center to Assist Havasupai Tribe Businesses and Residents Affected by Flooding

    Source: United States Small Business Administration

    “As communities across the Southeast continue to recover and rebuild after Hurricanes Helene and Milton, the SBA remains focused on its mission to provide support to small businesses to help stabilize local economies, even in the face of diminished disaster funding,” said Administrator Isabel Casillas Guzman. “If your business has sustained physical damage, or you’ve lost inventory, equipment or revenues, the SBA will help you navigate the resources available and work with you at our recovery centers or with our customer service specialists in person and online so you can fully submit your disaster loan application and be ready to receive financial relief as soon as funds are replenished.”

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today announced the opening of its virtual Business Recovery Center to meet the needs of Havasupai Tribe businesses and individuals who were affected by flooding that occurred Aug. 22–23.

    “When disasters strike, our virtual Business Recovery Centers are key to helping business owners and residents get back on their feet,” Sánchez said. “At these virtual centers, people can connect directly with our specialists to apply for disaster loans and learn about the full range of programs available to rebuild and move forward in their recovery journey.”

    SBA has established a virtual Business Recovery Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application.

    Virtual Business Recovery Center

    Mondays – Fridays
    8:00 a.m. – 4:30 p.m. Pacific Time
    FOCWAssistance@sba.gov
    (916) 932-8956

    Opens at 8 a.m. Tuesday, Nov. 5

    Closed Monday, Nov. 11, 2024, in observance of Veterans Day

    Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

    For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez continued. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

    SBA disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

    Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.813 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

    Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

    Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to apply for property damage is Dec. 24, 2024. The deadline to apply for economic injury is July 25, 2025.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-Evening Report: Primary care involves more than GPs. A new review shows how patients can better access care

    Source: The Conversation (Au and NZ) – By Stephen Duckett, Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne

    Drazen Zigic/Shutterstock

    Australians today are more likely than previous generations to live with complex and chronic diseases, such as diabetes, heart disease and depression.

    This means they’re more likely to need health care from a variety of different providers, such as nurses, podiatrists, psychologists and physiotherapists, as well as GPs. This is known as “multidisciplinary care”. It works best when the skills of all these professions are available to the patient in a co-ordinated way.

    But the roles of health professions, and the way they’re funded, have been frozen in legislation and policy for decades. Any change has been incremental and disjointed. It has mostly involved adding more items to the Medicare schedule, with each professional practising separately.

    The result has been greater inequity of access. Because fewer than half of allied health fee-for-service visits are bulk-billed, most patients pay almost A$70 for each consultation – and sometimes much more. Those who can’t afford the out-of-pocket costs and can’t find a bulk-billing practitioner miss out.

    To assess how the government can remove barriers to team-based care and get health professions working to their full potential, or their full “scope of practice”, last year the government commissioned an independent review.

    The final report, released yesterday, sets a new path for the primary care workforce. This could make multidisciplinary care within reach of all Australians.

    Using health-care workers’ full potential

    The review involved extensive consultation, including on two issues papers. The report itself incorporates feedback from the consultations, including sceptical comments, reflecting a divergence of opinions.

    Reflected the report’s title, Unleashing the Potential of our Health Workforce, its main emphasis is to change the rules and regulations imposed by state and federal governments. These stymie health professionals and limit their ability to use their full skills and knowledge to manage their patients’ care.

    Over recent decades, health professionals’ education has improved. So professionals are capable of doing more than previously. Yet the rules and regulations have not advanced and so inhibit professionals from making those skills and knowledge available.

    The review argues this contributes to career dissatisfaction, and to people leaving various health professions, exacerbating workforce shortages.

    The review proposes a new way of documenting and describing what can be done by a profession through what it calls a National Skills and Capability Framework and Matrix.

    As with many other recommendations, the review points to where this is done already internationally and how it can nestle into other policies and frameworks to aid implementation.

    Health-care workers aren’t using all their skills.
    DC studio/Shutterstock

    To the disappointment of most allied health professions, the review does not recommend more Medicare payments for them to practise independently.

    Rather, the review recommends payment to general practices for them to expand multi-disciplinary teams. This would see professionals working together, rather than in competition or isolation.

    The review also recommends changing the rules about referrals by health professionals, allowing qualified health professionals to refer directly to non-GP medical specialists in similar areas. This means your psychologist could refer you directly to a psychiatrist if needed, or your physiotherapist could refer you directly to an orthopaedic surgeon rather than needing to go back to your GP.

    This will weaken the role of the GP as a “gatekeeper” and also potentially undermine the more holistic care that GPs provide. But from a patient’s point of view, eliminating the intermediate step saves them out-of-pocket costs.

    An important recommendation recognises that the health system evolves and rules and regulations need to evolve too. It therefore supplements its recommendations for changes now, with an approach for continuous review through an independent mechanism. This would provide evidence-based advice and recommendations about:

    • significant workforce innovation
    • emerging health care roles
    • workforce models that involve significant change to scope.

    When will we see change?

    The review sets out a loose timeline for implementation, described as short, medium and long term. And it assigns responsibility for each element of its recommendations to appropriate bodies and governments.

    As almost all the recommendations require legislative change, and many require agreement between the Commonwealth and the states, it’s unlikely any of the changes will take effect this financial year.

    The review recommends change be implemented in a systematic, evidence-based and safe way. Implementation would start in areas of greatest need such as in rural and remote Australia and also in practices most ready for the change, such as Aboriginal Controlled Community Health Organisations or Victoria’s Community Health Centres.

    The review recommends changes to the referral process.
    voronaman/Shutterstock

    In releasing what he referred to as a “landmark” report, Health Minister Mark Butler noted the complexity of implementation, which would require collaborative action with states and territories. He noted the need for further consultation, but nevertheless took a supportive tone.

    Can this review prompt real health reform?

    Overall, the review charts a middle course between letting health professionals roam free and the tight and inappropriate rules and regulations which constrain patient care today. It also sets out the practical steps to achieve its goals.

    The one downside of the report is the emphasis on harmonisation of state and territory approaches. This would replace the current approach, where each state and territory decides, for example, on what vaccines can be administered by which professionals and what pharmacists can dispense without a medical practitioner’s prescription.

    One of the benefits of a federation is the potential for state- and territory-based innovation and cross-border learning. Harmonisation will limit that experimenting, and may lead to more of the stasis seen in health workforce policy in the past.

    Stephen Duckett was consulted by the Independent Reviewer during the course of the Review and commented on the Review’s Issues Papers and Draft Final Report

    – ref. Primary care involves more than GPs. A new review shows how patients can better access care – https://theconversation.com/primary-care-involves-more-than-gps-a-new-review-shows-how-patients-can-better-access-care-242698

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: IP takes lead in western China’s innovation surge

    Source: China State Council Information Office 2

    An aerial drone photo taken on Sept. 8, 2024 shows a partial view of the Shichengzi photovoltaic power station in Hami City, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    The western regions of China have experienced remarkable economic strides in recent years, and one contributing factor to this success is the progress made in intellectual property (IP). Amidst the country’s green transformation and pursuit of high-quality growth, this once-impoverished hinterland has now taken an IP-driven development path.
    The China National Intellectual Property Administration (CNIPA) has recently reported rapid growth in two key IP types in the regions. By the end of September, the number of valid invention patents in the regions reached 493,000, up 16.7 percent year on year. Registered trademarks also rose by 10.5 percent compared to the previous year.
    Such growth has not been easy to achieve. Comprising 12 provincial-level regions, western China covers two-thirds of the country’s land area and is home to over a quarter of its population. A sparsely populated area with limited infrastructure, the western regions have lagged economically compared to the eastern provinces.
    However, in recent years, these regions have actively promoted emerging industries, such as smart manufacturing, new energy vehicles and low-altitude economy, which in China are considered as new quality productive forces with high-value invention patents. Local departments have provided IP guidance and financial support to enterprises within these industries, facilitating their rapid growth and narrowing the gap with the east.
    From innovation to invention
    Some have even taken the lead in the country, such as clean energy technology.
    In northwest China’s Qinghai Province, a vast photovoltaic power generation park has been constructed in the Talatan Gobi Desert, spanning 600 square kilometers. Amidst the solar panels, flocks of white sheep were spotted roaming around.
    A few years ago, Talatan was a barren land. The locals creatively planted grass to prevent sand erosion and installed a large area of photovoltaic panels. The water used for cleaning the panels infiltrated beneath the surface, nourishing the grass. However, the grass growth-induced shade problem caused the solar panels to malfunction.
    To manage grass without chemicals, the park integrated sheep farming — using the animals to control vegetation and contribute to ecological conservation.
    This “photovoltaic sheep” concept, patented in 2018, has boosted the efficiency of local photovoltaic power generation, with the park now generating up to 80 million kilowatt-hours of electricity annually.
    Another example is the China-Laos Railway, which links Kunming, the capital of southwest China’s Yunnan Province, and the Lao capital Vientiane.
    The construction of the cross-border railway was a challenging task due to the complex geological structures along the route. Chinese engineers drilled solid tunnels through delicate mountain terrain and constructed high-pier and large-span railway bridges in earthquake-prone areas. Nearly 30 patents were obtained during the construction process, which has not only greatly improved efficiency and safety but also provided technical references for other major projects in both countries. In October this year, the patent-rich railway has facilitated over 42 million passenger trips since its operation in December 2021.
    The innovative achievements from China’s western regions have also garnered global attention. According to the latest report by the World Intellectual Property Organization, four major cities in the area – Xi’an, Chengdu, Chongqing, and Lanzhou – continue to lead the top 100 science and technology cluster ranking. These cities have further enhanced their industrial concentration, attracting high-quality enterprises and talent, and establishing themselves as significant regional hubs of innovation.
    “The market economy necessitates us to establish advanced technology as our competitive advantage and transform tech achievements into business resources. Therefore, we have chosen the path of IP,” said Wang Shechang, chairman of Xi’an-based China National Heavy Machinery Research Institute Co., Ltd.
    “Protecting IP is not only safeguarding innovation but also utilizing them as a means to enhance value exchange and facilitate the transformation of tech accomplishments,” Wang noted.
    From local to global
    Geographical indications (GI) are also a key element in the winning formula of development in Western China.
    GI is a type of IP that signifies a product’s specific origin and the qualities or reputation linked to that location. It serves as a mark of quality, setting the product apart from competitors.
    The latest data shows that the western region has recognized 931 GI products, accounting for 38.8 percent of the national total, with a direct annual output value of 429.8 billion yuan(60.36 billion U.S. dollars).
    “The brand value has been greatly enhanced as many products have obtained GI labels,” said Dolkun Awut, head of the Xinjiang IP department. “We leverage this advantage to drive the development of the GI industry and contribute to rural revitalization.”
    The Guangxi Zhuang Autonomous Region is a major GI contributor. It has 211 GIs, with a comprehensive output value of over 200 billion yuan and employment for over 5 million people.
    The promotion of GI has also strengthened cooperation between the western region and the world. According to the CNIPA, 36 GI products from the western regions have been included in the first China-EU GI list. In 2021, the two sides signed an agreement to enhance bilateral trade of agri-food products, with recognition and protection of 100 Chinese GIs and 96 EU GIs.
    Taking the wine at the eastern foot of Helan Mountain as an example, since it was included in the first China-EU GI list, the product from northwest China’s Ningxia Hui Autonomous Region has been exported to over 40 countries and regions, and major wine-producing areas in European countries such as Britain and France have imported 228,000 liters of this Chinese wine.
    Western China also places great importance on IP exchanges with neighboring countries.
    In Xinjiang, the local IP department has been providing guidance to Chinese enterprises on marketing in Central Asian countries and helping them improve their ability to handle IP disputes.
    Guangxi and ASEAN countries have established forums and conferences on IP cooperation. They have also collaborated on patent technology transfer within the biomedicine and new energy vehicle industries. Moreover, universities in Guangxi conducted academic IP programs with those in Macao Special Administrative Region and Vietnam.
    China’s GDP saw a 5.2 percent year-on-year increase last year, with the western regions outperforming the national average at 5.5 percent. In this remote but robust area, more enterprises and innovators have valued IP, leveraging their innovations to bolster industries with competitive edges and stimulate better economic growth.

    MIL OSI China News –

  • MIL-OSI New Zealand: NZTA confirms preferred option for second Mt Vic Tunnel and SH1 upgrades

    Source: New Zealand Government

    The NZ Transport Agency (NZTA) Board has confirmed next steps on the SH1 Wellington Improvements Road of National Significance (RoNS), including an expanded package to reduce Wellington’s gridlock and support economic growth, Transport Minister Simeon Brown says. 

    “Our Government is committed to delivering a second Mt Victoria Tunnel for Wellington to reduce congestion and unlock national and regional economic growth. I’m pleased to see the NZTA Board confirm the next steps for this RoNS to deliver on this commitment, including the addition of a duplicate Terrace Tunnel that will further boost productivity and enable people and freight to get to where they want to go, quickly and safely.  

    “SH1 through Wellington is heavily congested at peak times, with forecast population growth across the region expected to increase travel demand across the network. Without improvements to this critical route, within ten years the region could be looking at travel time increases of up to 50 per cent between Ngauranga and the Airport. 

    “We campaigned on delivering a second Mt Victoria Tunnel and upgrades to the Basin Reserve as a RoNS. The option endorsed by the NZTA Board includes a second Mt Victoria Tunnel that will run parallel to the existing tunnel, a duplicate Terrace Tunnel, and upgrades to the Basin Reserve that will reduce travel times and improve reliability for commuters on the North-South bus corridor.

    “These improvements will result in significant travel time savings during peak times, reducing travel times from the northern suburbs to the CBD, hospital, and airport by approximately 10 minutes.  

    “Commuters in the capital will see a significant benefit in time savings from these upgrades. Those travelling on the number one bus between Island Bay and the Railway Station are forecast to save 9 minutes during morning peak times, while those on the number two bus between Miramar and the CBD will notice a saving of 11 minutes on their journeys,” Mr Brown says.

    The project will be consented as a single corridor, with the project delivered in stages. 

    “After consideration of all options by the NZTA Board, I’m confident that the chosen option will significantly reduce congestion and provide more efficient and reliable access as we continue to rebuild the economy.  

    “The RoNS projects previously built by National are some of New Zealand’s most successful State Highway corridors, reducing congestion and improving safety. Moving at pace to build a new generation of RoNS signals our Government’s focus on prioritising investments that deliver real value to commuters and businesses.” 

    The SH1 Wellington Improvements RoNS will now move through an investment case which will be completed to be brought back to the NZTA Board in mid-2025.                                                                                                       

    MIL OSI New Zealand News –

  • MIL-OSI: Global Strategy: Fergus Kane Leads DIGZAX in Shaping the Future of Crypto Finance

    Source: GlobeNewswire (MIL-OSI)

    ARVADA, Colo., Nov. 04, 2024 (GLOBE NEWSWIRE) — Recently, the internationally renowned cryptocurrency exchange DIGZAX announced its global expansion strategy aimed at penetrating emerging markets and enhancing its business coverage and international influence. This initiative marks the further commitment of DIGZAX to the international market while showcasing its success in strategic positioning and market operations. As the heart of this expansion strategy, Fergus Kane, the founder and CEO of DIGZAX, has once again become a focal point in the industry.

    Fergus not only possesses a robust financial background but is also a pioneer in the realm of cryptocurrency. He graduated from Harvard University, and later achieved significant success at top financial institutions such as Goldman Sachs and JPMorgan on Wall Street. However, he did not confine himself to traditional finance; instead, he keenly recognized the vast potential within crypto finance.

    After extensive research into the blockchain and cryptocurrency sectors, Fergus identified numerous pressing issues facing cryptocurrency exchanges. In response, he decided to establish DIGZAX, a user-centric trading platform that emphasizes security and compliance. Since its inception in 2019, DIGZAX has rapidly secured a significant position in the global market, thanks to its innovative technology applications and high-quality user experience.

    According to the recently announced global expansion plan of DIGZAX, the platform will first solidify its leadership in the Asia-Pacific market before gradually extending its reach into Latin America. Fergus stated that both regions are experiencing rapid growth in their cryptocurrency user bases, presenting immense market potential. DIGZAX intends to establish a solid business foundation in these markets through stringent compliance measures and flexible operational strategies.

    This strategy not only reflects the global vision of DIGZAX but also underscores its keen attention to emerging markets. By deeply exploring these regional markets, DIGZAX aims to provide users with a more diversified range of services, ensuring it maintains a leading position in the fiercely competitive cryptocurrency landscape.

    For Fergus Kane, DIGZAX is not merely a cryptocurrency trading platform; it is a bridge that helps more people safely and conveniently enter the world of crypto finance. Throughout its global expansion, DIGZAX has consistently prioritized user experience as its core objective. Whether it involves the continuous optimization of platform features, the promotion of user education, or rigorous compliance management, Fergus and his team are dedicated to creating an efficient and secure trading environment, ensuring that more potential investors can confidently engage with the crypto market and fully enjoy the growth dividends of the industry.

    In addition to business expansion, Fergus particularly emphasized the importance of industry knowledge dissemination. He believes that users can only better participate and benefit from crypto finance when they truly understand its operational mechanisms and underlying values. Consequently, DIGZAX plans to further strengthen market education in the future, helping more investors grasp the relevant knowledge of cryptocurrencies. Through this initiative, DIGZAX aims to provide users with a safe and robust path to market participation, maximizing their potential returns.

    With the rapid development of the cryptocurrency market, Fergus Kane and the DIGZAX exchange have emerged as industry leaders. Through precise market insights, cutting-edge technology applications, and a user-centered service philosophy, DIGZAX is swiftly rising to become a frontrunner in the global crypto finance sector. With its global expansion plan, DIGZAX will continue to drive industry innovation, creating greater value and opportunities for users.

    Media Contact:

    Full company name: DIGZAX BLOCKCHAIN DEVELOPMENT INC

    Company website: https://www.digzax.co

    Contact Person: Darma

    Email id: support@DIGZAX.co

    Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/645f4f0f-608a-424c-9d2e-50837f5090e2

    The MIL Network –

  • MIL-OSI Economics: Q&A: Default and Loss Data by ADB and Other MDBs

    Source: Asia Development Bank

    Article | 05 November 2024
    Read time: 5 mins

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    •  Robust credit data are fundamental to lending volume and pricing decisions, capital adequacy assessment, and overall strategic decisions to catalyze private investors to invest more in emerging markets.
    •  ADB’s report on sovereign default and loss rates demonstrates the low credit risk in ADB’s sovereign operations, with an average default rate of 0.54% over the last 34 years and zero new defaults from 2010 to 2021.
    •  By making their own credit data publicly available, MDBs are empowering private and public investors with valuable insights into the actual creditworthiness indicators of borrowers in developing countries.

    On 10 October 2024, ADB published a comprehensive report detailing its sovereign default and loss rates over a 34-year period. This report, made in keeping with ADB’s commitment to data transparency, shows the remarkable credit performance of loans to its developing member countries (DMCs). On 15 October 2024, the GEMs Consortium—a group of 26 multilateral development banks (MDBs) and development finance institutions (DFIs)—published two reports that provide insights on the performance of credit portfolios and credit risk in emerging markets and developing economies (EMDEs) based on the group members’ investment experiences.

    Stephen O’Leary, Head, Office of Risk Management, ADB

    What prompted major MDBs to disclose their proprietary data, such as credit data, to the public?

    Unlike in developed economies, there is a deficit of reliable data on credit performance in the emerging markets where MDBs operate. This leads to misconceptions about the level of risk in those regional debt markets. Therefore, major MDBs have decided to disclose their aggregated detailed default and recovery statistics at a more granular level in response to shareholders’ demand for greater transparency.

    By making their own credit data publicly available, MDBs are empowering private and public investors with valuable insights into the actual creditworthiness indicators of borrowers in developing countries. This information is crucial for investors who often perceive these markets as high risk due to a lack of data. The MDBs are playing a key role in changing this perception.

    How significant are the data being shared?

    The published data have additional granularity which may help refine credit models. Robust credit models are fundamental to lending volume and pricing decisions, capital adequacy assessment, and overall strategic decisions to operate in specific markets. MDB’s private sector data should also catalyze private investors to invest more in emerging markets.

    What are the key insights from the recent GEMs publication of private sector defaults and recoveries?

    To underscore the reliability of the insights, it should first be highlighted that the GEMs report has one of the biggest populations of approximately 2000 private sector defaults. For comparison, the S&P’s Emerging and frontier markets corporate default summary showcases around 500 default instances since 1997.

      The GEMs report reveals that private-sector lending in EMDEs has a historical average default rate of 3.56%, which implies S&P Corporates’ B rating. The annual default rates were surprisingly stable and slightly below the historical average for the past 20 years. The fact that lending in frontier markets did not result in high default rates is a remarkable finding, especially given that the MDBs prioritize development goals over profitability.

    The data also highlight that financials comprise 36% of MDBs and IFIs borrowers, while utilities comprise approximately 14%. The financials have the lowest default rate among all sectors. Such MDBs’ sectoral concentration facilitates credit transmission into the economies of developing countries via financial intermediaries. While lending to renewable energy and sustainable utilities infrastructure simultaneously reduces climate risk.

    What steps has GEMs Consortium taken to improve the data?

    GEMs Consortium continuously improves the data to increase their usability and credibility among investors and stakeholders. The consortium has already updated its methodology documentation, providing detailed explanations of data collection processes and sources. Additionally, GEMs Consortium invests in streamlined data collection technologies to ensure more timely and granular updates, facilitating better decision-making in fast-changing market conditions.

    How can sovereign data disclosures help the borrowers?

    Disclosing sovereign default and recovery data is important as they detail the performance of an MDB sovereign lending in a specific country. Such disclosures should help investors enter cofinancing agreements with an MDB. For example,   ADB’s report on sovereign default and loss rates demonstrates the low credit risk in ADB’s sovereign operations, with an average default rate of 0.54% over the last 34 years and zero new defaults from 2010 to 2021. The data underscore the strength of ADB’s relationship with its developing member countries and the preferred creditor treatment accorded to ADB.

    The recent strides made by MDBs in enhancing credit data disclosures are a testament to their commitment to transparency and accountability. These efforts, when continued, will ensure that stakeholders, including governments, civil society, and the public, have access to reliable and comprehensive data. This, in turn, will contribute to sustainable development and financial stability on a global scale.

    In conclusion, the true utility of data is realized only when there is widespread global awareness of their free availability. While collecting and publishing data are essential steps, effective dissemination is key to maximizing their impact. The MDB community can significantly enhance the development benefits by engaging independent market participants to review, comment on, and utilize credit data. This collaborative approach not only enriches the value of the data but also fosters broader participation, ultimately driving meaningful outcomes.

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    Subjects
    • ADB administration and governance
    • Public sector (Sovereign) financing
    • Finance sector development

    MIL OSI Economics –

  • MIL-OSI China: Global firms capitalize on China’s smart, green transformation

    Source: China State Council Information Office

    Jinbao, the mascot of the China International Import Expo (CIIE), and Xiaoxin, a humanoid robot providing inquiry service, are pictured at the media center of the 7th CIIE in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]

    Global investors are eyeing fresh opportunities in China as the world’s second-largest economy accelerates its intelligent, green transformation.

    With the seventh China International Import Expo (CIIE) set to open on Tuesday, multiple industry leaders from across the world are gearing up to showcase their latest innovations and technologies, aiming to tap into China’s vast market potential.

    Tapping smarter manufacturing

    Aptiv, a multinational developing automobile parts, made its debut at the seventh CIIE, exhibiting software and hardware products featuring intelligence and electrification.

    “The CIIE provides an excellent platform for enterprises from all over the world to exchange ideas and cooperate,” said Simon Yang, president of Aptiv for China and the Asia Pacific region. He noted that Aptiv hopes to make full use of the CIIE to showcase its innovative solutions.

    The company is committed to its long-term development strategy of “In China for China,” and will continue to increase its investment in the Chinese market while expanding business cooperation with Chinese original equipment manufacturers.

    Aptiv is one of a number of multinationals gathering in Shanghai to test the pulse of China’s smart manufacturing market, which plays an important part in the country’s pursuit of high-quality development.

    Swedish technology company Hexagon has brought its new solutions to help traditional manufacturers become more digital-savvy to this year’s CIIE, including cloud platforms for industrial software and smart quality-testing systems.

    “The company is ready to ride the wave of the country’s pursuit of new quality productive forces, which are high-tech, highly efficient and of a high quality,” said Qin Lei, marketing business partner at Hexagon Manufacturing Intelligence (Qingdao) Co., Ltd.

    Merck Group, Germany’s leading tech company, is showcasing its innovative achievements in the new materials section of the CIIE, which is new to the annual event.

    China’s great market potential, improving business environment and rich talent pool have reinforced Merck’s confidence in its long-term investment in the country, said Marc Horn, executive vice president of Merck and president of Merck China.

    Embracing a greener future

    Entering its seventh year, the CIIE has retained its “New Era, Shared Future” theme, which holds special meaning for Christian Bruch, president and CEO of Siemens Energy AG.

    “I strongly agree with the theme, as it envisions a sustainable and more decarbonized future that requires collaborative efforts from governments, enterprises, customers, partners and the entire supply chains,” Bruch said.

    In his view, China’s dedication to building a modern energy system creates “extensive market opportunities” for global energy technology companies, including Siemens Energy.

    “Together with Chinese customers and partners, we have developed many energy infrastructure projects, continuously invested and expanded our manufacturing capacity in China, in order to meet the growing market demand in China and across the world,” he said.

    Pledging to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060, China has been steadfast in accelerating its energy transition. Over the past decade, the share of clean energy in the country’s total energy use has increased 10.9 percentage points, according to the National Energy Administration.

    Dedicated to promoting clean energy in China, Siemens Energy has established 15 manufacturing facilities across the country. It has become an important partner in the country’s energy transition, Bruch said.

    At this year’s CIIE, the company is poised to showcase its cutting-edge decarbonization technologies for the energy sector. Many of its exhibits will be presented for the first time in Asia or China.

    “During the expo, I look forward to meeting and exchanging ideas with partners, building consensus and fostering collaborative development,” Bruch said. “Tackling climate change and driving energy transition is a daunting task that no single country or region can accomplish alone.”

    Bruch’s emphasis on collaboration aligns with China’s increasing global contributions. According to a white paper issued by China’s State Council Information Office in August this year, the country’s wind power and photovoltaic exports helped other countries reduce their carbon dioxide emissions by about 810 million tonnes in 2023.

    Recognizing China’s role in the global energy transition, Bruch highlighted Siemens Energy’s confidence in deepening cooperation with its Chinese partners. “We are fully committed to working together to build a new energy ecosystem that supports China’s dual-carbon goals and fosters sustainable energy development worldwide.”

    MIL OSI China News –

  • MIL-OSI China: Foxconn’s planned business headquarters a vote of confidence in mainland market

    Source: China State Council Information Office

    Foxconn, the world’s leading electronics manufacturer, is set to build a new business headquarters in Zhengzhou, central China, in a move the Taiwan company described as “a crucial step” in expanding its presence on the mainland market.

    Analysts say the decision highlights Foxconn’s commitment to investing in the mainland, despite rising global trade protectionism and “decoupling” and “de-risking” rhetoric ratcheted up by certain Western politicians.

    The tech giant recently won a bid for a 2.84-hectare plot at 150 million yuan (about 21.07 million U.S. dollars) in the Zhengdong new district in Zhengzhou, capital of Henan Province, where it plans to build a headquarters focusing on key technology sectors, according to the Zhengzhou Public Resources Trading Center in a recent statement.

    This initiative aligns with Foxconn’s “3+3” strategy targeting electric vehicles, digital health and robotics, along with advancements in artificial intelligence (AI), semiconductors and next-generation communication, the company said.

    Foxconn’s planned headquarters will feature a construction area of approximately 70,000 square meters in its first phase, with an investment of 1 billion yuan. The company has not yet provided a groundbreaking date.

    In a speech at the unveiling ceremony for the new business headquarters in April 2023, Chairman Young Liu emphasized that the headquarters will mark the beginning of a new journey for Foxconn’s strategic industry development on the mainland, and the company’s new businesses are both a response to global market trends and an embrace of the latest wave in technological advancement.

    Henan’s favorable infrastructure and business environment, as well as the collaborative relationship between Foxconn and the local governments, were pivotal factors in the decision to locate the headquarters there, Liu noted.

    Between February and April 2023, Liu visited Henan three times, pledging to “build a new Foxconn” in the province. In July this year, the company signed a strategic cooperation agreement with the Henan provincial government to accelerate projects related to new business ventures.

    Per the deal, Foxconn plans to leverage its expertise in smart manufacturing, along with its global technological capabilities and supply chain resources, to advance projects in the new energy vehicle, energy storage battery, digital healthcare and robotics industries.

    Construction of a trial manufacturing center for new energy vehicles has started at Zhengzhou Airport Economy Zone, with operations expected to commence by the end of the year.

    Foxconn’s increased investment in Henan and its focus on future industries represent a win-win approach, said He Liang, an official with Zhengzhou Airport Economy Zone.

    “We will continue to provide quality service and foster a first-rate business environment that is market-oriented, law-based and internationalized,” He added.

    Henan and Foxconn share a deep bond.

    Foxconn, the principal assembler of Apple iPhones, established operations in the inland province in 2010. By the end of 2023, its Zhengzhou factory spanned around 2.8 million square meters and had recorded 12 consecutive years of growth in industrial output. Over the years, Foxconn has further expanded its footprint across Henan, setting up facilities in cities such as Jiyuan, Hebi and Zhoukou.

    The cooperation has also transformed Henan’s economy, turning the province into a global hub for intelligent terminal manufacturing. From 2016 to 2020 alone, the Zhengzhou factory attracted over 200 related supply chain enterprises to the Zhengzhou Airport Economy Zone, with total investments exceeding 300 billion yuan, according to the zone administration.

    Analysts view Foxconn’s moves as part of a broader bet on emerging industries, such as new energy vehicles, solid-state batteries, robotics, AI and semiconductors — sectors that are likely to shape the future of global manufacturing.

    Song Xiangqing, deputy head of the Commerce Economy Association of China, noted that the company’s increased investment in Henan underscores the opportunities created by the digital economy and technological progress on the mainland, as well as the resilience of its industrial chain and its shift toward high-quality manufacturing.

    The world’s second-largest economy has been steadfastly expanding its institutional opening-up in recent decades, rolling out various policies aimed at achieving high-quality development and offering the rest of the world new growth momentum and opportunities.

    At its third plenum, the 20th Central Committee of the Communist Party of China renewed the country’s commitment to the basic state policy of opening to the outside world and continuing to promote reform through opening-up.

    The commitment to an open economy, paired with its massive domestic market, presents significant opportunities for companies that are aiming to scale up operations in China despite global headwinds.

    In May, U.S. carmaker Tesla began construction on a mega factory in Shanghai to manufacture its energy-storage batteries. In his recent visit to China, Apple CEO Tim Cook also reaffirmed the company’s investment commitment in the country.

    MIL OSI China News –

  • MIL-OSI Economics: Money Market Operations as on November 04, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 550,223.53 6.12 5.00-6.50
         I. Call Money 7,899.89 6.41 5.10-6.50
         II. Triparty Repo 396,114.85 6.08 5.41-6.25
         III. Market Repo 145,225.79 6.22 5.00-6.50
         IV. Repo in Corporate Bond 983.00 6.40 6.40-6.41
    B. Term Segment      
         I. Notice Money** 296.85 6.39 6.20-6.50
         II. Term Money@@ 657.00 – 6.50-6.90
         III. Triparty Repo 790.00 6.21 5.50-6.36
         IV. Market Repo 831.61 6.53 6.35-6.67
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Mon, 04/11/2024 3 Thu, 07/11/2024 74,000.00 6.49
    3. MSF# Mon, 04/11/2024 1 Tue, 05/11/2024 5,231.00 6.75
    4. SDFΔ# Mon, 04/11/2024 1 Tue, 05/11/2024 193,522.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -262,291.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Thu, 31/10/2024 14 Thu, 14/11/2024 24,697.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,458.51  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -13,698.49  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -275,989.49  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on November 04, 2024 1,026,975.35  
         (ii) Average daily cash reserve requirement for the fortnight ending November 15, 2024 1,011,562.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ November 04, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on October 18, 2024 402,348.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1428

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: SFST promotes Hong Kong’s status as international asset and wealth management and risk management centre in Switzerland (with photos)

    Source: Hong Kong Government special administrative region

         The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Zurich, Switzerland, yesterday (November 4, Zurich time) to promote Hong Kong’s status as an international asset and wealth management and risk management centre.

         Mr Hui in the morning met with the Chief Executive Officer, Corporate Solutions, Swiss Re Group, Mr Ivan Gonzalez, and the Chairman of the Board of Zurich Insurance Group, Mr Michel M Liès, respectively. During the exchanges with these two world-leading insurance services and risk-solution providers, Mr Hui updated them on Hong Kong’s latest initiatives as announced in “The Chief Executive’s 2024 Policy Address (Policy Address)” to further strengthen Hong Kong’s position as a global risk management centre. The initiatives include reviewing the risk-based capital regime implemented in July 2024 and examining the capital requirements for infrastructure investment to enrich insurance companies’ asset allocations for risk diversification, and drive investment in infrastructure; as well as continuing to invite Mainland and overseas enterprises to establish captive insurers in Hong Kong. 

         Hong Kong is currently home to around 160 insurance companies. It has the largest concentration of insurance companies and the highest insurance density in Asia.    

         Mr Hui had a lunch meeting with the Swiss-Hong Kong Business Association (SHKBA), one of the members of the Federation of Hong Kong Business Associations. Mr Hui shared with SHKBA members the huge scale and diversified investment opportunities of Hong Kong’s asset and wealth management business, adding that the city welcomes investors and family offices around the world.      

         At another gathering with leaders of a multinational financial service provider, Mr Hui briefed them on the enhancements proposed in the Policy Address that further strengthen Hong Kong’s status as an asset and wealth management hub. Hong Kong will consult the industry on increasing the types of transactions eligible for tax concessions for funds and single family offices to cover emission derivatives/emission allowances, insurance-linked securities, loans and private credit investments, virtual assets, etc. He also updated participants that the Government’s issuance of green bonds has been attracting strong interest from local and international investors. So far a total of HK$220 billion in government green bonds have been successfully issued, including a diverse array of bonds – retail, institutional, and tokenised – across multiple currencies and tenors.

         On the same day, Mr Hui met with the Head of Bilateral Cooperation, Swiss National Bank, Ms Lena Lee Andresen, to discuss issues of mutual concern such as the global trend of monetary policies. 

         Mr Hui also visited the headquarters of Gategroup, and met with their Chief Financial Officer, Mr Urs Schwendinger. Gategroup is a market-leading inflight caterer with a global presence, including Hong Kong. Noting that Hong Kong is an international aviation hub with continuous development of the Airport City, Mr Hui welcomed Gategroup to further expand their business in the city.  
        
         Mr Hui will depart for Geneva in the morning of November 5 (Zurich time) to continue his visit in Switzerland.                     

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: $100 Million ADB Loan to Strengthen Armenia’s Fiscal Sustainability and Financial Markets Development

    Source: Asia Development Bank

    MANILA, PHILIPPINES (5 November 2024) — The Asian Development Bank (ADB) has approved an €89.47 million ($100 million equivalent) policy-based loan as Subprogram 2 of Armenia’s Fiscal Sustainability and Financial Markets Development Program.  

    The reforms promoted under this programmatic approach, supported by ADB in partnership with Agence Française de Développement, strengthen Armenia’s fiscal management and deepen its financial markets. These reforms align with Armenia’s national strategy to enhance governance, promote economic stability, and accelerate climate action.

    Government reforms under Subprogram 2 promote critical objectives of fiscal reform, including improved multi-year budget planning and procurement governance, and strengthened public debt, fiscal risk, and public investment management. In addition to fiscal governance reforms, the program also supports the establishment of liquid money markets, facilitates greater investor confidence, and enhances corporate transparency and governance.  

    Armenia’s climate change action policy commitments will also be enabled by key program reform efforts to embed adaptation and mitigation concerns and environmental policy objectives in public financial management systems and in financial sector policy.

    “The reforms will stimulate the financial sector and access to finance, positioning Armenia as a more robust economy resilient to external risks,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.  

    Subprogram 2 builds on the successful implementation of Subprogram 1 and aims to reduce fiscal vulnerabilities and bolster investor confidence in its financial and capital markets.

    “This program is a vital step in promoting fiscal effectiveness and bolstering Armenia’s capacity to manage fiscal risks and public investments effectively, creating foundations for sustainable growth,” said ADB Principal Financial Sector Economist João Farinha-Fernandes.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Economics: ADB to Help Nepal Upgrade Electricity Transmission and Distribution Infrastructure

    Source: Asia Development Bank

    MANILA, PHILIPPINES (5 November 2024) — The Asian Development Bank (ADB) has approved a $311 million loan to improve and modernize electricity transmission and distribution infrastructure in Nepal.

    “Upgrading and modernizing Nepal’s electricity transmission and distribution facilities and infrastructure is essential to its sustainable growth and development,” said ADB Principal Energy Specialist Jiwan Acharya. “Not only will this project ensure the reliable and sustainable delivery of electricity in the country, but it will also provide employment and business opportunities to make lives of Nepalese better and more comfortable.”  

    The project will finance a total of 290 kilometers (km) of power transmission lines from Dailekh to Jumla, New Butwal to Lamahi, Nijgadh to Ramauli, and Teenpiple and Okharpauwa. It will also expand, reinforce, and rehabilitate electricity distribution infrastructure in Karnali and Lumbini provinces. Distributed grid-connected solar photovoltaic generation facilities with a total capacity of 8 megawatts will be established in Karnali and other areas. 

    ADB will help the Nepal Electricity Authority (NEA) upgrade its training center, expand the smart meter rollout program, establish a data recovery center, and implement a Supervisory Control and Data Acquisition network. The project will conduct awareness-raising campaigns on safe and efficient energy use.

    ADB will provide an additional $30 million grant from its Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries, to support training and capacity building. Advanced communication tools and technology, funded by the grant, will equip NEA with skills in hydropower management and electricity dispatch significantly enhancing Nepal’s capability to trade power with neighboring countries. 

    The project will also support training of women and disadvantaged groups on business and technical skills, open energy-related employment opportunities, and expand energy-based businesses. It will help build the capacity of the NEA and other government agencies in power management, project management, new technologies, and power trade, among others.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-Evening Report: A new campaign rewards young gamers on Roblox for engaging with the US election. What does it mean for global politics?

    Source: The Conversation (Au and NZ) – By Joanne Orlando, Researcher: Digital Literacy and Digital Wellbeing, Western Sydney University

    Alex Photo Stock/Shutterstock

    If historical trends are anything to go by, most young people in the United States will not vote at this week’s presidential election. For example, at the 2016 presidential election, less than half of Americans aged 18 to 29 cast their ballot.

    But a new campaign on the hugely popular online gaming platform Roblox aims to encourage young people in the US to get out and exercise their democratic right on Tuesday.

    The “Virtual Vote” initiative is a partnership between Roblox game developers and a national political non-profit organisation called HeadCount.

    It has already engaged thousands of Roblox users – and it may mark the beginning of an entirely new way young people worldwide learn about and engage with real-life politics.

    The ultimate virtual universe

    Roblox is an online gaming platform where people can create an avatar, play a library of user-created games and socialise. Its developers describe it as the “the ultimate virtual universe”.

    It has roughly 79.5 million reported daily users globally and is valued at US$38 billion.

    The online gaming platform is especially popular among young people. However, it also poses a number of safety risks, including grooming and cyberbullying.

    Because of this, some governments have cracked down on Roblox. For example, earlier this year, it was banned in Turkey.

    Now the 2024 US presidential election has also entered the Roblox virtual gaming universe.

    From games to politics

    Virtual Vote is billed as the “first immersive civic engagement campaign”.

    Justin Hochberg, CEO of Virtual Brand Group (which develops games for Roblox) and the founder of Virtual Vote stated that his goal was simple:

    With 57% of gamers discovering global fashion, sports and entertainment brands while playing, this initiative meets Gen Z where they are to make a difference for the world’s biggest brand — #America.

    Virtual Vote was launched just four weeks ago in partnership with Headcount, a long-standing, not-for-profit youth voter engagement platform in the US. Other organisations – many of which are prominent in the online brand and content space – have also come on board.

    Players engage with Virtual Vote via popular games on Roblox, such as Livetopia, which has 4.7 billion user visits, and Karlie Kloss’s Fashion Klossette, which has 33.1 million total visits.

    Upon entering Virtual Vote, players meet Sam the Eagle, a guide who encourages them to check their voter registration status. Through Sam, players explore interactive maps showing state-specific voting rules and timelines.

    Virtual Vote is also a form of gaming and entertainment with big rewards and prizes for players who engage with it. Up for grabs is a trip to Hollywood to meet television presenter Jimmy Kimmel, VIP tickets to see musician Sabrina Carpenter, a snowboarding trip with champion American snowboarder Jamie Anderson, as well as limited-edition merchandise and content to play within Roblox.

    In the four weeks since its launch, Virtual Vote has had a strong response from Roblox users. More than 500,000 people have played the mini game so far – almost 4,000 of whom subsequently checked their voter registration status.

    Shaping political viewpoints online

    Platforms like Roblox, with their massive global youth audiences, are becoming increasingly important for shaping political views and real-world political engagement.

    Children and young adults immersed in these virtual worlds may be unknowingly absorbing information and perspectives that could influence their future voting decisions.

    Right now, the focus is on voter registration. However, given the huge impact it’s having, there is clear potential for such campaigns to become much more persuasive and biased.

    In future, we could see kids vying for rewards within online games or social media that may subtly shape their political viewpoints, which they then carry into how they vote as adults.

    This phenomenon has flown under the radar for the current US election. But its impact could be significant. Even more so since young people currently get so much of their news from social platforms.

    For example, the current trend on TikTok of women “cancelling out” the pro-Trump votes of their partners reinforces a gender binary for voting habits. These trending videos are fun, comedic, give minimal factual information. But some of them are getting up to two million views each.

    Similarly, election-themed videos – many of which have been identified as misinformation – on the popular online video platform YouTube have racked up millions of views in recent weeks.

    Exacerbating this situation is that young people often use social media, watch YouTube and play games on Roblox in combination. This can mean triple the impact of how these platforms can shape their political views.

    Online games and platforms are constantly shape-shifting and looking for new ways to engage with ever bigger global audiences.

    So wherever we live in the world, a campaign like Virtual Vote – seeking to achieve real-world political influence through an online video game platform – are important to pay attention to.

    Given the impact of Virtual Vote on so many young people, in such a short period of time, we can expect to see more political influence in their play. Shaping elections in the online space has just taken a new step.

    Joanne Orlando has received funding from the Office of the eSafety Commissioner.

    – ref. A new campaign rewards young gamers on Roblox for engaging with the US election. What does it mean for global politics? – https://theconversation.com/a-new-campaign-rewards-young-gamers-on-roblox-for-engaging-with-the-us-election-what-does-it-mean-for-global-politics-242901

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Speech by SJ at Second Legal Forum on Interconnectivity and Development (English only)

    Source: Hong Kong Government special administrative region

         Following are the closing remarks by the Secretary for Justice, Mr Paul Lam, SC, at the Second Legal Forum on Interconnectivity and Development under the Hong Kong Legal Week 2024 today (November 5):

    Your excellencies, distinguished guests, ladies and gentlemen,

         Thank you very much again for participating in this year’s Second Legal Forum on Interconnectivity and Development. I would first like to express my gratitude to the Commissioner’s Office of China’s Foreign Ministry in the Hong Kong SAR (OCMFA) for co-organising this forum with the Department of Justice (DoJ) of the Hong Kong SAR. OCMFA’s support and contribution are invaluable to the success of this event.

         I would also like to extend my sincere thanks to the Asian Infrastructure Investment Bank (AIIB) and especially to their General Counsel, Mr Alberto Ninio, who delivered an impactful keynote address on promotion of good governance and high-quality development under international law earlier this morning. Hong Kong, China became a member of AIIB in 2017. Our arrangement for secondment of DoJ counsel to the legal department of AIIB in the past few years has been conducive to enhancing our collaboration with AIIB and strengthening the development of Hong Kong international legal and dispute resolution services, especially in the financial fields.

         Following the keynote address from AIIB, the two Panel Sessions examined the critical importance of legal connectivity in our increasingly globalised landscape, as well as its impact across various fields, from international trade and commerce, dispute resolution, sanctions to emerging domains such as the governance of artificial intelligence (AI). The experience and practice of Hong Kong in connecting with high-standard international legal rules provide a good illustration for our discussion. Allow me to reflect briefly on today’s discussions and Hong Kong’s role in these vital developments.

    Cross-border legal connectivity and China’s foreign-related rule of law

         Legal connectivity transcends borders, bringing jurisdictions closer and promoting shared prosperity. As President Xi Jinping has noted, the fundamental purpose of advancing foreign-related rule of law is to better safeguard the interests of the country and the people, promote the progress of international rule of law and the development of a community with a shared future for mankind. China’s institutional opening-up progresses alongside its development of foreign-related legal frameworks. The rule of law forms the foundation of a favourable business environment.

         The first session explored Hong Kong’s evolving legal landscape, where, under the “one country, two systems” framework, it serves as a strategic nexus for trade and commerce and dispute resolution, regionally in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as internationally. In this era of ever-changing global business norms, as China’s institutional opening-up progresses, Hong Kong serves not only as a “super-connector” but also provides unique legal services under its legal and international arbitration framework.

    Rule of law to safeguard sustainable development

         On the importance of the rule of law to mitigate risks and to safeguard Hong Kong’s and national sustainable development, the learned speakers have shared their insights into the global developments in financial sanctions and anti-sanctions, as well as legislative trends on anti-interference in major western countries.

         As AI rapidly advances, it transforms industries and economies in a revolutionary way. This also brings with it complex global regulation and governance issues and related risks. As the final report on this subject by the United Nations Secretary-General appointed panel concludes, “the very nature of the technology itself – transboundary in structure and application – necessitates a global approach”. The discussions on this topic today are timely and relevant as we consider how to safeguard sustainable development in an increasingly inter-connected world with AI.

         As President Xi stressed during the 16th BRICS Summit, “as the world becomes more turbulent, it is even more important to uphold the banner of peace, development, co-operation and win-win outcomes”. It is my sincere hope that the discussions in today’s forum could bring out a spirit of co-operation and collaboration in traditional fields like economy and trade, as well as emerging areas like artificial intelligence, with our sustainable development safeguarded by the rule of law.

    Hong Kong as a global legal and dispute resolution hub

         On co-operation and development, aligned with Hong Kong’s development of “eight centres” as outlined in the National 14th Five-Year Plan, the Department of Justice has taken forward policies to strengthen Hong Kong’s role as a leading legal and dispute resolution hub.

         The staunch support of the Central People’s Government in strengthening the city as a centre for international legal and dispute resolution services in the Asia-Pacific region under the National 14th Five-Year Plan can be demonstrated by the establishment of the International Organization for Mediation (IOMed) Preparatory Office last year. The IOMed Preparatory Office has successfully facilitated the conclusion of negotiations on the Convention on Establishment of the IOMed last month. A decision has also been made by all the negotiating parties that a signing ceremony of the Convention will be held in Hong Kong next year and the IOMed headquarters will also be situated in Hong Kong once the Convention has entered into force.

         As the world’s first intergovernmental international legal organisation dedicated to resolving international disputes through mediation, IOMed is important for the implementation of settling international disputes by peaceful means as set out in the United Nations Charter. Upon its establishment, the IOMed will provide friendly, flexible, economical and efficient mediation services, thereby building Hong Kong as a capital for international mediation.

         Apart from exciting development on IOMed, we also continue to enhance our collaboration with prominent law-related international organisations, such as the International Institute for the Unification of Private Law (UNIDROIT), with which we co-organised this year’s Asia-Pacific International Private Law Summit yesterday. We are also in active discussion with UNIDROIT for the possible establishment of its liaison office in Hong Kong in the near future. These forms of collaborations enable Hong Kong to contribute to and align with international standards, thus enhancing its appeal as a global hub for dispute resolution.

         In addition, with the support of the Central People’s Government and the assistance of the OCMFA, the Department of Justice has put in place programmes to second local legal talents to several law-related international organisations including the UNIDROIT. Through participating in the work of such international organisations, local legal professionals can enhance their knowledge of international legal matters and develop global vision. Nurturing Hong Kong’s legal talents is crucial for the sustainable development of the legal community, for consolidating our position as a leading international legal and dispute resolution services centre and for the long-term development of the rule of law, matters to which the Central Authorities and the HKSAR Government have attached great importance.

    Fostering legal talent: Hong Kong International Legal Talents Training Academy

         Following the announcement in the Chief Executive’s 2024 Policy Address, the Hong Kong International Legal Talents Training Academy will be officially launched on this Friday, Day five of Hong Kong Legal Week. To make good use of Hong Kong’s bilingual common law system and international legal status, the Training Academy will regularly organise practical training courses, seminars, international exchange programmes and more to promote exchanges among talents in regions along the Belt and Road region. It will also provide training for talents in the practice of foreign-related legal affairs for the country, and cultivate legal talents to be familiar with international law, common law, civil law, national legal systems and other legal areas. In future, our Department will make use of this capacity building platform to enable practitioners from different jurisdictions to exchange ideas on promoting the culture of harmony.

    Looking ahead: Hong Kong’s future role as an international legal hub

         Looking to the future, we are reminded of the traditional Chinese saying by Confucius, in Chinese is “å�›å­�和而ä¸�å�Œ and in English “a gentleman seeks harmony, not uniformity”. This philosophy encourages us to pursue a shared vision despite our differences, and is crucial for enhancing interconnectivity and development in building a community of shared future for mankind. In our interconnected world, such harmony through diversity is essential for achieving lasting success and mutual respect across boundaries. Hong Kong’s dedicated efforts in aligning with and contributing to international legal standards, its experience in international dispute resolution, as well as its commitment to legal capacity-building could leave a positive impact as the world navigates through complex challenges. As China moves towards deeper institutional opening-up, Hong Kong has a significant role to play in facilitating international engagement and promoting the progress of international rule of law.

         In closing, my sincere thanks to all speakers, participants, supporting organisations, colleagues at the OCMFA and the DoJ for making this forum a success. I look forward to your support for the Third Legal Forum on Interconnectivity and Development next year. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: The Gambia: International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility Arrangement

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

    WASHINGTON D.C., United States of America, November 5, 2024/APO Group/ —

    • IMF staff and the Gambian authorities have reached a staff-level agreement on economic policies to conclude the second review of the program under the Extended Credit Facility (ECF) arrangement.
    • Economic recovery is strengthening while inflation has decelerated significantly.
    • The Gambia’s reform agenda is advancing despite challenges to fiscal policy.

    An International Monetary Fund (IMF) team, led by Ms. Eva Jenkner, held discussions in Washington DC with the Gambian authorities. The discussions followed those in Banjul from September 30 to October 11, 2024 (see PR 24/367). A staff-level agreement was reached on the second review of the program supported under the 36-month Extended Credit Facility (ECF) arrangement approved in January 2024 for total access of SDR 74.64 million (about US$99.4 million). Subject to approval by the IMF’s Executive Board, the completion of the review would enable a disbursement of SDR 8.29 million (about US$11.04 million), bringing the total disbursement under the arrangement to about US$33.1 million. The Board date is tentatively scheduled for December 20, 2024.

    At the conclusion of the discussions, Ms. Jenkner issued the following statement:

    “The authorities remain committed to their reform agenda and program objectives.

    “Economic activity is strengthening. Economic growth remains estimated at 5.8 percent for 2024, supported by agriculture, services, telecom, and construction sectors. Inflation reached 10 percent at end-September 2024, from a peak of 18.5 percent at end-September 2023, remaining above the central bank’s medium-term objective of 5 percent.

    “Continued policy discussions mainly focused on the fiscal trajectory for 2024 and 2025 with the aim of maintaining fiscal responsibility. This includes increasing the room for responding to large social and developmental needs, protecting the most vulnerable, addressing climate related risks and vulnerabilities, and ensuring gradual clearance of central government arrears and unsettled commitments.

    “The ECF supported program is anchored on a medium-term fiscal framework aiming to reduce debt vulnerabilities and to maintain overall macrofinancial stability.

    “The mission would like to thank its counterparts for candid and constructive discussions.”

    MIL OSI Africa –

  • MIL-OSI United Nations: Secretary-General’s video message to COP29 Religious Leaders’ Summit

    Source: United Nations secretary general

    Download the video: https://s3.us-east-1.amazonaws.com/downloads2.unmultimedia.org/public/video/evergreen/MSG+SG+/SG+1+Nov+24/3298308_MSG+SG+COP29+RELIGIOUS+LEADERS+SUMMIT+01+NOV+24.mp4

    Excellencies, dear friends,

    I want to thank you for coming together across faiths to help push for a successful outcome at COP29 in Baku.

    Our climate is in crisis — extreme temperatures, raging fires, droughts, and epic floods.

    No country is spared.

    And the poorest and most vulnerable are hardest hit.

    As faith leaders, your voices are essential to drive climate action and climate justice. 

    Action to ensure countries produce — by next year — new national climate action plans aligned with the imperative to limit global warming to 1.5 degrees.

    And justice so all countries have the resources to adapt to our changing planet and can transition — fast and fairly — to a sustainable and renewable future.

    This includes a much stronger flow of financial resources to developing countries, and a well-funded Loss and Damage Fund that supports those hardest hit by disasters.

    By standing together, you’re standing up for the future of the world we share.

    Thank you for being part of this vital effort for people and planet.
     

    MIL OSI United Nations News –

  • MIL-OSI: CoinShares Announces Q3 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    5thNovember 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European investment company specialising in digital assets, has today published its results for the quarter ending 30th September 2024.

    Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

    “In Q3 2024, we concentrated on executing our strategy and preparing for a promising Q4 and the upcoming year. A key achievement was the change in our accounting policy for digital assets. We now record movements on digital assets at fair value through profit and loss, enhancing the transparency of our financial statements. This change enables a wide range of investors to have a better understanding of CoinShares’ financial performance and health.

    We have concurrently implemented bitcoin as a treasury management instrument, thus demonstrating our commitment to our investment thesis. Consequently, we now rank among the select few publicly traded companies globally that have opted to maintain bitcoin holdings (78 BTC at the end of Q3) on our balance sheet.”

    Q3 2024 financial highlights

    • Total Revenue, Gains & Other Income for Q3 2024 of £25.8 million (Q3 2023: £15.2 million)
    • EBITDA for Q3 2024 of £15.4 million (Q3 2023: £8.3 million)
    • Net profit for Q3 2024 of £14.2 million (Q3 2023: £6.7 million)

    Q3 2024 operational highlights

    • Asset Management: The CoinShares Physical ETP platform closed the quarter with nearly $80 million in net flows, marking its second-largest quarterly inflow since 2021. We launched a new multi-asset ETP in partnership with finanzen.net to enhance our visibility in the German retail market. In the United States, the CoinShares-Valkyrie business line had its second-best quarter, achieving $61 million in net inflows, mainly from BRRR and WGMI products. Integration of this business line into the wider CoinShares Group is largely complete, and we anticipate it becoming a meaningful contributor to overall Group value, with full stride expected in 2025.
    • Capital Markets & Hedge Fund Solutions: Following the successful rollout of our algorithmic trading platform, MATRIX, our development team is optimising its performance and connectivity, enabling signal ingestion from multiple sources and opening doors to new collaborations. This allows our quantitative research team to focus on new alpha generation strategies to drive future performance for our Capital Markets and Funds divisions. Concurrently, our Hedge Fund Solutions division is preparing to launch an equity long-short fund focused on crypto equities, leveraging our BLOCK Index expertise; the product is ready to launch pending market demand, currently being assessed by our sales teams in the United States and Europe. 
    • Principal Investments: Despite a decrease of approximately £1.9 million in the Group’s Principal Investment portfolio during Q3—primarily due to an extension of the CS2 fund’s life that delays the receipt of our recognized carried interest and results in a corresponding discount—we have observed positive developments in some of our smaller investments. These include the conversion of one of our SAFEs (Station 70) and the change in status of GTSA to that of an Electronic Money Institution.
    • Accounting Policy Change: An important development this quarter concerns our accounting policies for digital asset holdings; historically, our financial statements were distorted by classifying digital assets as intangibles under IFRS, resulting in profit or loss after tax figures that differed markedly from our total comprehensive income and impacting the readability of our accounts. As our organisation has evolved and our activities have diversified significantly, we are now able to classify our digital assets so that their fair value movements are taken through profit and loss, allowing us to present financial statements that provide a more understandable view of our financial performance—easily reconciled to our EBITDA—a transition we’ve been eager to make and are pleased to have finally achieved.

    Full details of the Q3 results, inclusive of financial information on each of the Group’s business units, are included within the full report, available here.

    Download the Swedish Executive Summary here.

    ABOUT COINSHARES

    CoinShares is the leading European investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

    For more information on CoinShares, please visit: https://coinshares.com
    Company | +44 (0)1534 513 100 | enquiries@coinshares.com
    Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

    This information is information that CoinShares International Limited (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act.

    The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on November 5, 2024.

    PRESS CONTACT

    CoinShares
    Benoît Pellevoizin
    bpellevoizin@coinshares.com

    M Group Strategic Communications
    Peter Padovano
    press@coinshares.com

    Attachment

    The MIL Network –

  • MIL-OSI: WISe.ART Announces “MINDREAMER” Exhibition from Ylan Anoufa

    Source: GlobeNewswire (MIL-OSI)

    WISe.ART Announces “MINDREAMER” Exhibition from Ylan Anoufa

    Exhibition accompanied by Ylan Anoufa art sales benefiting foundation for childhood education

    Geneva, Switzerland – November 5, 2024: WISeKey International Holding Ltd. (“WISeKey” or the “Company”) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations, today announced that its subsidiary WISe.ART is proud to support Ylan Anoufa’s upcoming “MINDREAMER’ exhibition and new collection of twin phygital art packages. The exhibition is set to premiere November 13 at Geneva-based gallery Gallery Re Source. Proceeds from sale of the packages will benefit Ylan’s foundation for childhood education.

    “MINDREAMER” at Gallery Re Source

    Internationally renowned French contemporary artist Ylan Anoufa captivates the art world with his bold and socially engaged works. For the first time in Switzerland, his creations, including his famous AnoufaBear, will be showcased in the groundbreaking exhibition “MINDREAMER”.

    An Immersive and Interactive Exhibition

    After conquering cities such as New York, Tokyo, Hong Kong, Nice, Marbella, Monaco, and Paris, Ylan Anoufa will unveil “MINDREAMER” in Geneva’s Old Town from November 13, 2024, to February 10, 2025.

    The exhibition will feature several editions of his iconic AnoufaBear, a symbol of unity and strength, alongside a selection of ultra-dynamic and powerful urban and pop art pieces. By pushing the boundaries of traditional art, Ylan invites the public to dive into a universe oscillating between vulnerability and collective strength, while addressing contemporary issues and celebrating the beauty of human diversity.

    Performances, Digital Art, and Education

    As part of the exhibition, Ylan Anoufa will present a live art performance titled “REALOVE,” offering the audience a unique and captivating experience that combines emotion and interaction.

    Additionally, he will unveil his digital creativity through a series of NFT artworks. To further explore the digital realm, Gallery Re Source and WISe.ART will host two conferences dedicated to blockchain and NFTs during the exhibition.

    Committed to passing on his knowledge, Ylan also plans to lead AnoufaBear creation workshops for children at the Gallery, fostering artistic expression and creativity from an early age. “MINDREAMER” promises to be a participatory experience.

    AnoufaBears & The Digital Revolution
    In collaboration with WISeKey subsidiaries WISe.ART and SEALSQ, AnoufaBears are part of an exciting project set to embrace the digital realm of art. Through incorporation of the SEALSQ VaultIC155 semiconductor, a contactless solution designed to ward off counterfeiting, AnoufaBears will boast features like Open Detection and Privacy mode.

    WISe.ART’s CEO Carlos Moreira, commented “We believe in a future where digital assets are as valuable, if not more so, than physical ones. Our mission at WISe.ART is to ensure that this future is authentic, secure, and accessible to all.”

    Ylan Anoufa – An Artist on the Rise

    Ylan Anoufa’s talent continues to make waves in the contemporary art world. In January 2024, he was named Artist of the Year at the WISe.ART Excellence Awards during the prestigious World Economic Forum week in Davos. This accolade comes in addition to being named NFT Artist of the Year, cementing his status as a major player in the digital art world.

    His works, now fetching record prices at auctions, reflect growing interest from collectors and art enthusiasts worldwide. His unique approach and commitment to social causes have earned him increasing international recognition, making him one of the most influential emerging artists of our time.

    Ylan Anoufa is set to participate in several upcoming major international events, including Art Together at the Tel Aviv Museum of Art on November 18, the Telethon on November 30, and Art Basel Miami from December 2 to 15.

    About Gallery Re Source
    Nestled in Geneva’s Old Town, Gallery Re Source is a space dedicated to contemporary art and design, regularly hosting artistic, cultural, and holistic events. The “MINDREAMER” exhibition, enriched with workshops, performances, and conferences, aligns with the co-founders’ vision to make art a living and accessible experience for all.

    Stay connected with Gallery Re Source on social media to follow the latest updates and discover upcoming surprises.

    About Ylan Anoufa: The Maestro Behind AnoufaBears
    Ylan, born in 1980, is an embodiment of perpetual evolution. His art, found across global cities from Paris to Hong Kong, beams with modernity, humour, and a thought-provoking narrative. With a heart that radiates positivity, Ylan’s artwork becomes a vibrant fusion of colour, harmony, space, and form. Combining his stylistic finesse in painting and sculpture, Ylan’s graphics are a testament to his poetic inspiration. His collaborations with music legends like Lenny Kavitz and the Rolling Stones, as well as commercial endorsements with brands such as Porsche and Barbie, further enhance his global statue.

    About WISeKey
    WISeKey is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

    WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

    About WISe.ART

    Established in September 2020, our marketplace is a forward-thinking digital art platform pioneering the intersection of blockchain technology and artistic and/or visionary creativity. With a strong commitment to democratizing access and ownership to unique innovative products, WISe.ART provides a vibrant marketplace for buying, selling, preserving, and discovering original digital creations. By embracing blockchain and NFT technology, WISe.ART ensures provenance, artist recognition, heritage preservation and secure, transparent transactions.

    WISe.ART platform leverages WISeKey’s strong cybersecurity expertise, digital identity technology. As a part of our mission to empower creators and collectors, the launch of the WISe.ART token marks a significant milestone in our journey. By creating a unique digital currency, we aim to foster an inclusive, engaging, and rewarding ecosystem that transcends traditional boundaries of the art world.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact:  Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US)
    Contact: The Equity Group Inc.

    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    Katie Murphy

    Tel: +1 212 836-9612 / kmurphy@equityny.com

    		 Gallery Re Source
    Véronika Saporta Tel: +41 78 227 32 70
    Stéphanie Jacob Tel: +41 76 508 03 99
    Instagram.com/lagalleryresource
    lagallery.ch
    info@lagallery.ch
    Gallery Re Source – rue Etienne-Dumont, 5 – 1204 Geneva, Switzerland

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    The MIL Network –

  • MIL-OSI USA: Statement from President Joe  Biden on the Contract Between the International Association of Machinists and  Boeing

    US Senate News:

    Source: The White House
    I congratulate the International Association of Machinists and Boeing for coming to an agreement that reflects the hard work and sacrifices of 33,000 Machinist workers. This contract provides a 38% wage increase over four years, improves workers’ ability to retire with dignity, and supports fairness at the workplace. This contract is also important for Boeing’s future as a critical part of America’s aerospace sector. And it was achieved with the support of my economic team, including Acting Labor Secretary Julie Su and National Economic Advisor Lael Brainard.
    Over the last four years, we’ve shown collective bargaining works. Good contracts benefit workers, businesses, and consumers—and are key to growing the American economy from the middle out and the bottom up.

    MIL OSI USA News –

  • MIL-OSI: International Petroleum Corporation Announces Third Quarter 2024 Financial and Operational Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Nov. 05, 2024 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operational results and related management’s discussion and analysis (MD&A) for the three and nine months ended September 30, 2024.

    William Lundin, IPC’s President and Chief Executive Officer, comments: “We are pleased to announce another positive quarter of operational performance. IPC achieved average net daily production during the third quarter of 45,000 barrels of oil equivalent per day (boepd), following planned maintenance shutdowns during the quarter. We also continue to purchase IPC common shares under the normal course issuer bid (NCIB). We have now almost completed the 2023/2024 NCIB, reducing the outstanding number of common shares by over 6% since the beginning of December 2023. We intend to seek Toronto Stock Exchange approval to renew the NCIB in December 2024. We are also pleased to report on the progress achieved at the Blackrod Phase 1 development in Canada, which remains on schedule and on budget.”

    Q3 2024 Business Highlights

    • Average net production of approximately 45,000 boepd for Q3 2024, in line with guidance (49% heavy crude oil, 17% light and medium crude oil and 34% natural gas).(1)
    • Successful completion of planned maintenance shutdowns at Onion Lake Thermal (OLT) in Canada and the Bertam field in Malaysia.
    • Drilling activity at the Suffield area in Canada continued with four wells drilled in Q3 2024 and completed by October 2024.
    • Development activities on Phase 1 of the Blackrod project continue to progress on schedule and on budget, with forecast first oil in late 2026.
    • 2.6 million IPC common shares purchased and cancelled during Q3 2024 under IPC’s normal course issuer bid (NCIB), on track to complete the 2023/2024 NCIB during November 2024.
    • IPC plans to seek Toronto Stock Exchange approval for the renewal of the NCIB in December 2024.

    Q3 2024 Financial Highlights

    • Operating costs per boe of USD 17.9 for Q3 2024, below guidance.(3)
    • Operating cash flow (OCF) and Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of MUSD 73 and MUSD 68 respectively in line with guidance for Q3 2024.(3)
    • Capital and decommissioning expenditures of MUSD 102 for Q3 2024, in line with guidance.
    • Free cash flow (FCF) for Q3 2024 amounted to MUSD -38 (MUSD 44 pre-Blackrod Phase 1 project funding).(3)
    • Gross cash of MUSD 299 and net debt of MUSD 157 as at September 30, 2024.(3)
    • Net result of MUSD 23 for Q3 2024.

    Reserves and Resources

    • Total 2P reserves as at December 31, 2023 of 468 MMboe, with a reserves life index (RLI) of 27 years.(1)(2)
    • Contingent resources (best estimate, unrisked) as at December 31, 2023 of 1,145 MMboe.(1)(2)

    2024 Annual Guidance

    • Full year 2024 average net production guidance range maintained at 46,000 to 48,000 boepd.(1)
    • Full year 2024 operating costs guidance revised to below USD 18 per boe.(3)
    • Full year 2024 OCF guidance estimated at between MUSD 335 and 342, assuming Brent USD 70 to 80 per barrel for the remainder of 2024.(3)
    • Full year 2024 capital and decommissioning expenditures guidance forecast maintained at MUSD 437.
    • Full year 2024 FCF guidance estimated at between MUSD -140 and -133 (between MUSD 222 and 229 pre-Blackrod Phase 1 project funding), assuming Brent USD 70 to 80 per barrel for the remainder of 2024.(3)
      Three months ended
    September 30    		   Nine months ended
    September 30
    USD Thousands 2024   2023     2024   2023  
    Revenue 173,200   257,366     598,659   655,446  
    Gross profit 39,505   93,429     167,397   210,559  
    Net result 22,875   71,681     101,804   143,269  
    Operating cash flow (3) 72,589   119,142     263,831   279,414  
    Free cash flow (3) (38,269 ) 34,703     (74,021 ) 67,379  
    EBITDA (3) 68,313   123,054     259,304   284,334  
    Net cash/(debt) (3) (157,228 ) 83,097     (157,228 ) 83,097  
                       

    Oil prices softened in the third quarter with Brent prices averaging USD 80 per barrel compared with USD 85 per barrel in the second quarter. Volatility during the quarter was high with Brent prices ranging from USD 89 per barrel in July to USD 70 per barrel in September. Notwithstanding the volatility in prices, the crude market was in a deficit through the third quarter, aided by the proactive supply management by the OPEC+ group. The continued conflicts in the Middle East and Ukraine led to increased oil prices, though these were partially offset by concerns over global oil demand growth, in particular consumer and industrial demand in China. Despite some of these negative factors, the physical market remains tight with OECD crude stock levels below the five-year average, with oil demand expected to be at an all-time high in 2024 and continue to grow in 2025. Approximately 50% of IPC’s forecast 2024 oil production is hedged at USD 80 per barrel WTI or USD 85 per barrel Dated Brent through to the end of 2024.

    The third quarter 2024 WTI to Western Canadian Select (WCS) price differentials averaged just under USD 14 per barrel, in line with the second quarter and approximately USD 5 per barrel lower than the first quarter differential average of USD 19 per barrel. The Trans Mountain expansion (TMX) pipeline continues to support tighter differentials with the Western Canadian Sedimentary Basin (WCSB) now having excess spare pipeline capacity for the first time in more than a decade. Crude exports from the new TMX pipeline are flowing off the coast of British Columbia, with deliveries to the US West Coast and Asia creating new end destinations for Canadian heavy oil. Around 70% of our forecast 2024 Canadian WCS production volumes are hedged at a WTI/WCS differential of USD 15 per barrel.

    Natural gas prices in Canada remained suppressed in the third quarter, with AECO pricing averaging CAD 0.67 per Mcf during the period, compared to CAD 1.17 per Mcf average for the second quarter. This has led to some Canadian natural gas producers curtailing production as western Canada gas storage levels continue to sit above the five-year range. IPC implemented hedges during the third quarter for approximately 14,500 Mcf per day at CAD 1.57 per Mcf from August to year end 2024.

    Third Quarter 2024 Highlights and Full Year 2024 Guidance

    IPC delivered average daily production rates of 45,000 boepd for the third quarter. The average daily production for the first nine months of 2024 was 47,400 boepd and the full year Capital Markets Day (CMD) production guidance of 46,000 to 48,000 boepd is maintained. During the third quarter, planned maintenance shutdowns at the Onion Lake Thermal (OLT) asset in Canada and at the Bertam field in Malaysia were successfully completed. High uptimes were achieved across all major producing assets in our portfolio during the quarter and the business benefited from the oil wells drilled within our Southern Alberta assets and the new wells brought on stream from sustaining Pad L at the OLT asset.(1)

    Operating costs in the third quarter of 2024 were below forecast at USD 17.9 per boe. The lower costs were largely driven by lower energy input costs within our Canadian asset base. Full year 2024 operating costs guidance is revised to less than USD 18 per boe, below the CMD guidance range of USD 18 to 19 per boe.(3)

    Operating cash flow (OCF) for the third quarter of 2024 was USD 73 million in line with forecast. Full year 2024 OCF guidance is revised to USD 335 to 342 million (assuming Brent USD 70 to 80 per barrel for the remainder of 2024).(3)

    Capital and decommissioning expenditure for the third quarter was in line with plan at USD 102 million. Our full year 2024 capital and decommissioning expenditure guidance is unchanged at USD 437 million.

    Free cash flow (FCF) was USD -38 million (or USD 44 million pre-Blackrod Phase 1 development funding) during the third quarter of 2024. Full year 2024 FCF guidance is revised to USD -140 to -133 million (or USD 222 to 229 million pre-Blackrod Phase 1 development funding) assuming Brent USD 70 to 80 per barrel for the remainder of 2024.(3)

    Net debt was increased during the third quarter of 2024 by approximately USD 69 million to USD 157 million.(3) This is due to the growth capital expenditure at the Blackrod Phase 1 project and continued funding of the normal course issuer bid (NCIB) share repurchase program. The gross cash position as at September 30, 2024 was USD 299 million. In the third quarter, IPC enhanced its financing position by entering into a letter of credit facility in Canada to cover all of its existing operational letters of credit, giving full availability under IPC’s undrawn CAD 180 million Revolving Credit Facility.

    With a robust balance sheet and strong cashflow generation from the producing assets, IPC is strongly positioned to deliver on our three strategic pillars of organic growth, shareholder returns and pursue value-adding M&A.

    Blackrod Phase 1 Project

    The Blackrod asset is 100% owned by IPC and hosts the largest booked reserves and contingent resources within the IPC portfolio. After more than a decade of pilot operations, subsurface delineation and commercial engineering studies, IPC sanctioned the Phase 1 development in the first quarter of 2023. The Phase 1 development targets 218 MMboe of 2P reserves, with a multi-year forecast capital expenditure of USD 850 million to first oil planned in late 2026. The Phase 1 development is planned for plateau production of 30,000 bopd which is expected by early 2028.(1)(2)

    2024 marks a peak investment year at the Blackrod Phase 1 project for IPC, with USD 362 million planned to be spent in the year. Project progress has advanced according to plan, with approximately USD 245 million spent through the first nine months of 2024. All major third-party contracts have been executed, including but not limited to, the engineering, procurement and construction (EPC) agreements for the central processing facility (CPF) and well pad facilities, midstream agreements for the input fuel gas, diluent and oil blend pipelines, and drilling rig and stakeholder agreements. All major long lead items have been procured and pre-operations onboarding continues as the asset undergoes rapid change from a pilot steam assisted gravity drainage (SAGD) operation to a commercial SAGD operation. IPC’s core operational philosophy is to responsibly develop and commission projects with the staff that are going to manage and operate the asset to ensure the seamless transition from development to operations.

    As at the end of the third quarter of 2024, over half of the Blackrod Phase 1 development capital had been spent since the project sanction in early 2023. All major work streams are progressing as planned and the focus continues to be on executing the detailed sequencing of events as facility modules are safely delivered and installed at site. The total Phase 1 project guidance of USD 850 million capital expenditure to first oil in late 2026 is unchanged. IPC intends to fund the remaining Blackrod Phase 1 development costs with forecast cash flow generated by its operations and cash on hand.

    Stakeholder Returns: Normal Course Issuer Bid

    Under the current 2023/2024 NCIB, IPC has the ability to repurchase up to approximately 8.3 million common shares over the period of December 5, 2023 to December 4, 2024. IPC repurchased and cancelled approximately 7.5 million common shares up to the end of September 2024. The average price of common shares purchased under the 2023/2024 NCIB was SEK 132 / CAD 17 per share. IPC expects to complete the 2023/2024 NCIB during November 2024, resulting in the cancellation of 6.5% of the total number of common shares outstanding as at the beginning of December 2023.

    As at September 30, 2024, IPC had a total of 120,751,038 common shares issued and outstanding and IPC held 30,000 common shares in treasury. As at October 31, 2024, IPC had a total of 120,244,638 common shares issued and outstanding and IPC held 44,400 common shares in treasury.

    The IPC Board of Directors has approved, subject to acceptance by the Toronto Stock Exchange (TSX), the renewal of IPC’s NCIB for a further twelve months from December 2024 to December 2025. We expect that the 2024/2025 NCIB will permit IPC to purchase on the TSX and/or Nasdaq Stockholm, and cancel, up to a further approximately 7.5 million common shares, representing approximately 6.2% of the total outstanding common shares (or 10% of IPC’s “public float” under applicable TSX rules) following completion of the current 2023/2024 NCIB. IPC continues to believe that reducing the number of common shares outstanding while in parallel investing in material production growth at the Blackrod project will prove to be a winning formula for our stakeholders.

    Environmental, Social and Governance (ESG) Performance

    As part of IPC’s commitment to operational excellence and responsible development, its objective is to reduce risk and eliminate hazards to prevent occurrence of accidents, ill health, and environmental damage, as these are essential to the success of our business operations. During the third quarter of 2024, IPC recorded no material safety or environmental incidents.

    As previously announced, IPC targets a reduction of our net GHG emissions intensity by the end of 2025 to 50% of IPC’s 2019 baseline and IPC remains on track to achieve this reduction. During the first quarter of 2024, IPC announced the commitment to remain at end 2025 levels of 20 kg CO2/boe through to the end of 2028.(4)

    Notes:

    (1) See “Supplemental Information regarding Product Types” in “Reserves and Resources Advisory” below. See also the annual information form for the year ended December 31, 2023 (AIF) available on IPC’s website at www.international-petroleum.com and under IPC’s profile on SEDAR+ at www.sedarplus.ca.
    (2) See “Reserves and Resources Advisory“ below. Further information with respect to IPC’s reserves, contingent resources and estimates of future net revenue, including assumptions relating to the calculation of NPV, are described in the AIF.
    (3) Non-IFRS measures, see “Non-IFRS Measures” below and in the MD&A.
    (4) Emissions intensity is the ratio between oil and gas production and the associated carbon emissions, and net emissions intensity reflects gross emissions less operational emission reductions and carbon offsets.

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		       Or       Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
             

    This information is information that International Petroleum Corporation is required to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07:30 CET on November 5, 2024. The Corporation’s unaudited interim condensed consolidated financial statements (Financial Statements) and management’s discussion and analysis (MD&A) for the three and nine months ended September 30, 2024 have been filed on SEDAR+ (www.sedarplus.ca) and are also available on the Corporation’s website (www.international-petroleum.com).

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    Forward-looking statements include, but are not limited to, statements with respect to:

    • 2024 production ranges (including total daily average production), production composition, cash flows, operating costs and capital and decommissioning expenditure estimates;
    • Estimates of future production, cash flows, operating costs and capital expenditures that are based on IPC’s current business plans and assumptions regarding the business environment, which are subject to change;
    • IPC’s financial and operational flexibility to continue to react to recent events and navigate the Corporation through periods of volatile commodity prices;
    • The ability to fully fund future expenditures from cash flows and current borrowing capacity;
    • IPC’s intention and ability to continue to implement strategies to build long-term shareholder value;
    • The ability of IPC’s portfolio of assets to provide a solid foundation for organic and inorganic growth;
    • The continued facility uptime and reservoir performance in IPC’s areas of operation;
    • Development of the Blackrod project in Canada, including estimates of resource volumes, future production, timing, regulatory approvals, third party commercial arrangements, breakeven prices and net present value;
    • Current and future production performance, operations and development potential of the Onion Lake Thermal, Suffield, Brooks, Ferguson and Mooney operations, including the timing and success of future oil and gas drilling and optimization programs;
    • The potential improvement in the Canadian oil egress situation and IPC’s ability to benefit from any such improvements;
    • The ability to maintain current and forecast production in France and Malaysia;
    • The intention and ability of IPC to acquire further common shares under the NCIB, including the timing of any such purchases;
    • The ability of IPC to renew the NCIB and the number of common shares which may be purchased under a renewed NCIB;
    • The return of value to IPC’s shareholders as a result of the NCIB;
    • The ability of IPC to implement further shareholder distributions in addition to the NCIB;
    • IPC’s ability to implement its greenhouse gas (GHG) emissions intensity and climate strategies and to achieve its net GHG emissions intensity reduction targets;
    • IPC’s ability to implement projects to reduce net emissions intensity, including potential carbon capture and storage;
    • Estimates of reserves and contingent resources;
    • The ability to generate free cash flows and use that cash to repay debt;
    • IPC’s continued access to its existing credit facilities, including current financial headroom, on terms acceptable to the Corporation;
    • IPC’s ability to maintain operations, production and business in light of any future pandemics and the restrictions and disruptions related thereto, including risks related to production delays and interruptions, changes in laws and regulations and reliance on third-party operators and infrastructure;
    • IPC’s ability to identify and complete future acquisitions;
    • Expectations regarding the oil and gas industry in Canada, Malaysia and France, including assumptions regarding future royalty rates, regulatory approvals, legislative changes, and ongoing projects and their expected completion; and
    • Future drilling and other exploration and development activities.

    Statements relating to “reserves” and “contingent resources” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and that the reserves and resources can be profitably produced in the future. Ultimate recovery of reserves or resources is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

    Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.

    These include, but are not limited to general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including the war between Ukraine and Russia and the conflict in the Middle East, and their potential impact on, among other things, global market conditions; and changes in legislation, including but not limited to tax laws, royalties, environmental and abandonment regulations.

    Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in the MD&A (See “Risk Factors”, “Cautionary Statement Regarding Forward-Looking Information” and “Reserves and Resources Advisory” therein), the Corporation’s Annual Information Form (AIF) for the year ended December 31, 2023, (See “Cautionary Statement Regarding Forward-Looking Information”, “Reserves and Resources Advisory” and “Risk Factors”) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

    Management of IPC approved the production, operating costs, operating cash flow, capital and decommissioning expenditures and free cash flow guidance and estimates contained herein as of the date of this press release. The purpose of these guidance and estimates is to assist readers in understanding IPC’s expected and targeted financial results, and this information may not be appropriate for other purposes.

    Non-IFRS Measures
    References are made in this press release to “operating cash flow” (OCF), “free cash flow” (FCF), “Earnings Before Interest, Tax, Depreciation and Amortization” (EBITDA), “operating costs” and “net debt”/”net cash”, which are not generally accepted accounting measures under International Financial Reporting Standards (IFRS) and do not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable with similar measures presented by other public companies. Non-IFRS measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

    The definition of each non-IFRS measure is presented in IPC’s MD&A (See “Non-IFRS Measures” therein).

    Operating cash flow
    The following table sets out how operating cash flow is calculated from figures shown in the Financial Statements:

      Three months ended September 30   Nine months ended September 30
    USD Thousands 2024   2023     2024   2023  
    Revenue 173,200   257,366     598,659   655,446  
    Production costs (100,984 ) (130,765 )   (328,110 ) (364,889 )
    Current tax 373   (7,459 )   (6,718 ) (16,045 )
    Operating cash flow 72,589   119,142     263,831   274,512  
                       

    The operating cash flow for the nine months ended September 30, 2023 including the operating cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 279,414 thousand.

    Free cash flow
    The following table sets out how free cash flow is calculated from figures shown in the Financial Statements:

      Three months ended September 30   Nine months ended September 30
    USD Thousands 2024   2023     2024   2023  
    Operating cash flow – see above 72,589   119,142     263,831   274,512  
    Capital expenditures (99,100 ) (76,844 )   (308,457 ) (183,904 )
    Abandonment and farm-in expenditures1 (2,575 ) (2,755 )   (4,938 ) (7,683 )
    General, administration and depreciation expenses before depreciation2 (3,903 ) (3,547 )   (11,245 ) (11,124 )
    Cash financial items3 (5,280 ) (1,293 )   (13,212 ) (3,593 )
    Free cash flow (38,269 ) 34,703     (74,021 ) 68,208  

    1 See note 16 to the Financial Statements
    2 Depreciation is not specifically disclosed in the Financial Statements
    3 See notes 4 and 5 to the Financial Statements

    The free cash flow for the nine months ended September 30, 2023 including the free cash flow contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 67,379 thousand.

    EBITDA
    The following table sets out the reconciliation from net result from the consolidated statement of operations to EBITDA:

      Three months ended September 30   Nine months ended September 30
    USD Thousands 2024   2023     2024   2023  
    Net result 22,875   71,681     101,804   143,269  
    Net financial items 4,124   4,257     23,942   16,227  
    Income tax 8,257   25,451     29,473   50,671  
    Depletion and decommissioning costs 30,491   31,687     96,305   71,488  
    Depreciation of other tangible fixed assets 2,023   1,509     6,503   6,503  
    Exploration and business development costs 197   (24 )   344   2,007  
    Depreciation included in general, administration and depreciation expenses 1 346   405     933   1,180  
    Sale of Assets –   (11,912 )   –   (11,912 )
    EBITDA 68,313   123,054     259,304   279,433  

    1 Item is not shown in the Financial Statements

    The EBITDA for the nine months ended September 30, 2023 including the EBITDA contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 284,334 thousand.

    Operating costs
    The following table sets out how operating costs is calculated:

      Three months ended September 30   Nine months ended September 30
    USD Thousands 2024   2023     2024   2023  
    Production costs 100,984   130,765     328,110   364,889  
    Cost of blending (29,818 ) (39,836 )   (116,699 ) (128,523 )
    Change in inventory position 2,755   (8,067 )   3,160   2,228  
    Operating costs 73,921   82,862     214,571   238,594  

    The operating costs for the nine months ended September 30, 2023 including the operating costs contribution of the Brooks assets acquisition from the effective date of January 1, 2023 to the completion date of March 3, 2023 amounted to USD 245,395 thousand.

    Net cash/(debt)
    The following table sets out how net cash/(debt) is calculated:

    USD Thousands September 30, 2024   December 31, 2023  
    Bank loans (6,431 ) (9,031 )
    Bonds1 (450,000 ) (450,000 )
    Cash and cash equivalents 299,203   517,074  
    Net cash/(debt) (157,228 ) 58,043  

    1 The bond amount represents the redeemable value at maturity (February 2027).

    Reserves and Resources Advisory
    This press release contains references to estimates of gross and net reserves and resources attributed to the Corporation’s oil and gas assets. For additional information with respect to such reserves and resources, refer to “Reserves and Resources Advisory” in the MD&A. Light, medium and heavy crude oil reserves/resources disclosed in this press release include solution gas and other by-products. Also see “Supplemental Information regarding Product Types” below.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in Canada are effective as of December 31, 2023, and are included in the reports prepared by Sproule Associates Limited (Sproule), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and using Sproule’s December 31, 2023 price forecasts.

    Reserve estimates, contingent resource estimates and estimates of future net revenue in respect of IPC’s oil and gas assets in France and Malaysia are effective as of December 31, 2023, and are included in the report prepared by ERC Equipoise Ltd. (ERCE), an independent qualified reserves auditor, in accordance with NI 51-101 and the COGE Handbook, and using Sproule’s December 31, 2023 price forecasts.

    The price forecasts used in the Sproule and ERCE reports are available on the website of Sproule (sproule.com) and are contained in the AIF. These price forecasts are as at December 31, 2023 and may not be reflective of current and future forecast commodity prices.

    The reserve life index (RLI) is calculated by dividing the 2P reserves of 468 MMboe as at December 31, 2023 by the mid-point of the 2024 CMD production guidance of 46,000 to 48,000 boepd.

    IPC uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). A BOE conversion ratio of 6:1 is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value.

    Supplemental Information regarding Product Types

    The following table is intended to provide supplemental information about the product type composition of IPC’s net average daily production figures provided in this press release:

      Heavy Crude Oil
    (Mbopd)    		 Light and Medium Crude Oil (Mbopd) Conventional Natural Gas (per day) Total
    (Mboepd)
    Three months ended        
    September 30, 2024 21.9 7.8 91.9 MMcf
    (15.3 Mboe)    		 45.0
    September 30, 2023 25.8 7.1 103.4 MMcf
    (17.3 Mboe)    		 50.2
    Nine months ended        
    September 30, 2024 23.7 7.9 94.8 MMcf
    (15.8 Mboe)    		 47.4
    September 30, 2023 25.9 8.6 102.4 MMcf
    (17.1 Mboe)    		 51.6
    Year ended        
    December 31, 2023 25.8 8.1 102.8 MMcf
    (17.1 Mboe)    		 51.1
             

    This press release also makes reference to IPC’s forecast total average daily production of 46,000 to 48,000 boepd for 2024. IPC estimates that approximately 50% of that production will be comprised of heavy oil, approximately 16% will be comprised of light and medium crude oil and approximately 34% will be comprised of conventional natural gas.

    Currency
    All dollar amounts in this press release are expressed in United States dollars, except where otherwise noted. References herein to USD mean United States dollars and to MUSD mean millions of United States dollars. References herein to CAD mean Canadian dollars.

    The MIL Network –

  • MIL-OSI Africa: Secretary-General’s video message to COP29 Religious Leaders’ Summit

    Source: United Nations – English

    strong>Download the video: https://s3.us-east-1.amazonaws.com/downloads2.unmultimedia.org/public/video/evergreen/MSG+SG+/SG+1+Nov+24/3298308_MSG+SG+COP29+RELIGIOUS+LEADERS+SUMMIT+01+NOV+24.mp4

    Excellencies, dear friends,

    I want to thank you for coming together across faiths to help push for a successful outcome at COP29 in Baku.

    Our climate is in crisis — extreme temperatures, raging fires, droughts, and epic floods.

    No country is spared.

    And the poorest and most vulnerable are hardest hit.

    As faith leaders, your voices are essential to drive climate action and climate justice. 

    Action to ensure countries produce — by next year — new national climate action plans aligned with the imperative to limit global warming to 1.5 degrees.

    And justice so all countries have the resources to adapt to our changing planet and can transition — fast and fairly — to a sustainable and renewable future.

    This includes a much stronger flow of financial resources to developing countries, and a well-funded Loss and Damage Fund that supports those hardest hit by disasters.

    By standing together, you’re standing up for the future of the world we share.

    Thank you for being part of this vital effort for people and planet.
     

    MIL OSI Africa –

  • MIL-OSI China: US election day voting begins with first ballots cast in New Hampshire

    Source: China State Council Information Office

    Voters in Dixville Notch, New Hampshire, went to the polls early Tuesday morning, marking the official start of Election Day voting for the 2024 U.S. presidential election.

    Six registered voters of the tiny town in northeastern United States cast their ballots at midnight, following a tradition that dates back decades ago.

    Amid heightened security for fears of violence and chaos, the vast majority of polling stations across the country open on Tuesday morning and will remain open until the evening.

    Prior to this, tens of millions of voters across the country have already cast their ballots early, either by voting in person at polling stations or by mail. According to data from the University of Florida’s Election Lab, as of Monday night, more than 82 million voters had already cast their ballots.

    This election is widely regarded as one of the most divisive in American history. Democratic presidential candidate Kamala Harris and Republican candidate Donald Trump have repeatedly warned against potentially catastrophic consequences inflicted on the country if the other is elected. Voters hold vastly different views on key issues such as the economy, immigration, and abortion rights.

    According to an annual survey conducted by the American Psychological Association, 77 percent of U.S. adults said the future of the nation was a significant source of stress in their lives. Additionally, 74 percent said they were worried that the election results could lead to violence.

    “I would hope that whoever wins the presidential election will handle it gracefully, and whoever doesn’t win, likewise, will handle it gracefully,” Annmarie Pintal, one of the just six voters registered to vote in Dixville Notch, told Xinhua.

    “We need unity. We need to come together on the common ground, and, be willing to set aside our differences,” said Scott Maxwell, another voter in the small town. 

    MIL OSI China News –

  • MIL-OSI Asia-Pac: SFST promotes HK in Zurich

    Source: Hong Kong Information Services

    Secretary for Financial Services & the Treasury Christopher Hui yesterday began a visit to Switzerland, where he is promoting Hong Kong’s status as an international centre for asset, wealth and risk management.

    In Zurich, Mr Hui met Swiss Re Group’s Chief Executive Officer, Corporate Solutions Ivan Gonzalez, and Chairman of the Board of Zurich Insurance Group Michel M Liès, giving them an update on initiatives announced in the 2024 Policy Address to strengthen Hong Kong’s position as a global risk management centre.

    These initiatives include reviewing the risk-based capital regime implemented in July and examining capital requirements for infrastructure investment in order to enrich insurance companies’ asset allocations for risk diversification and drive investment in infrastructure. The Hong Kong Special Administrative Region Government will also continue to invite Mainland and overseas enterprises to establish captive insurers in Hong Kong.

    Mr Hui also had a lunch meeting with the Swiss-Hong Kong Business Association, a member of the Federation of Hong Kong Business Associations. He briefed the association on investment opportunities in Hong Kong’s asset and wealth management sectors, stressing that the city welcomes investors and family offices from around the world.

    At another gathering, with leaders of a multinational financial service provider, Mr Hui spoke of the enhancements proposed in the Policy Address to strengthen Hong Kong’s status as an asset and wealth management hub.

    The industry is to be consulted on increasing the types of transactions, by funds and family offices, that are eligible for tax concessions. It is proposed that emission derivatives and allowances, virtual assets, insurance-linked securities, loans and private credit investments, and more, be made eligible.

    Mr Hui added that the Hong Kong Special Administrative Region Government’s issuance of green bonds is attracting strong interest from local and international investors, with $220 billion in government green bonds having been issued so far.

    The treasury chief also met the Swiss National Bank’s Head of Bilateral Cooperation of Lena Lee Andresen to discuss issues of mutual concern such as global trends in monetary policy.

    In addition, Mr Hui visited the headquarters of Gategroup, a market-leading inflight caterer with a global presence and operations in Hong Kong, and met its Chief Financial Officer Urs Schwendinger.

    Highlighting that Hong Kong is an international aviation hub and that development of its Airport City is ongoing, he invited Gategroup to expand its operations in the SAR.

    Mr Hui’s visit to Switzerland will continue today in Geneva. 

    MIL OSI Asia Pacific News –

  • MIL-OSI: Valeura Energy Inc.: Completion of Internal Restructuring

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Nov. 05, 2024 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to announce the completion of an internal restructuring of its Thailand subsidiary companies. 

    Valeura’s working interests in all its Thai III fiscal contracts, covering the Nong Yao, Manora and Wassana fields, are now held by Valeura Energy (Thailand) Ltd, a wholly owned subsidiary of Valeura, which previously had only held an interest in the Wassana asset.  The Company anticipates that the new structure offers the potential to optimise various operational and financial aspects of these assets.  In particular, the Company anticipates realising efficiencies through ongoing contracting and procurement, as well as the pooling of future costs and historical tax loss carry-forwards associated with these assets.  As of September 30, 2024, the cumulative tax loss carry-forwards are estimated at US$397 million(1).  

    Dr. Sean Guest, President and CEO commented:

    “Today marks a milestone in delivering value for our shareholders, and completes the integration work we started after our Gulf of Thailand acquisitions in 2022 and 2023.  Early on, we identified the potential for greater efficiency by bringing our Thai III assets together through a re-organisation; our team recognised that together, these assets are worth more than the sum of their parts. 

    Pursuing this type of synergy strengthens our ability to re-invest in the business for the benefit of all stakeholders.  We intend to continue investing directly into the many organic growth opportunities inherent in our Thailand portfolio, and also seeking new ways to provide further value, including through acquisition-led growth.”

    Under Thailand’s income tax provisions, from today forward, petroleum income tax for the three subject assets will be assessed as a single entity. Tax obligations relating to the previous subsidiary company arrangement are required to be assessed immediately and settled within the next 30 days. Taxation arrangements for the Jasmine field, which is governed by a different vintage of fiscal terms (known as Thai I), and held in a separate subsidiary entity, will continue unchanged. 

    (1) Unaudited internal management estimate based on Thai baht exchange rate as of November 1, 2024, subject to review by tax advisors and auditors.

    For further information, please contact:

    Valeura Energy Inc. (General Corporate Enquiries)  +65 6373 6940
    Sean Guest, President and CEO  
    Yacine Ben-Meriem, CFO  
    Contact@valeuraenergy.com  
       
    Valeura Energy Inc. (Investor and Media Enquiries)  +1 403 975 6752 / +44 7392 940495
    Robin James Martin, Vice President, Communications and Investor Relations  
    IR@valeuraenergy.com  
       

    Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

    About Valeura

    Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

    Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

    Advisory and Caution Regarding Forward-Looking Information

    Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to: the potential to optimise various operational and financial aspects, relating to such matters as ongoing contracting and procurement, as well as the pooling of future costs and historical tax loss carry-forwards associated with these assets and statements with respect to the growth opportunities inherent in the Company’s Thailand portfolio and the Company seeking new ways to provide further value.

    Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: the ability of the Company to obtain the anticipated benefits from the internal restructuring; political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; ability to attract a partner to participate in its tight gas exploration/appraisal play in Türkiye; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

    The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

    This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

    This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI: Progress on share buyback programme

    Source: GlobeNewswire (MIL-OSI)

    Progress on share buyback programme

    ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 4,016,274 shares were repurchased during the week of 31 October 2024 up to and including 1 November 2024.

    In line with the purpose of the programme to reduce the share capital of ING, the ordinary shares were repurchased at an average price of €15.64 for a total consideration of €62,798,086.93. To date approximately 3.14% of the maximum total value of the share buyback programme has been completed.

    For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the ING website at www.ing.com/investorrelations.

    Note for editors

    For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via X @ING_news feed. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE
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    The MIL Network –

  • MIL-OSI Russia: Internship of Russian specialists in China has started

    Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On November 4, a group of Russian specialists – graduates of the Presidential Program, led by the Director of the Federal Resource Center Alexey Bunkin, arrived in the People’s Republic of China in Beijing to undergo an overseas internship in the areas of “Economic Cooperation in Mechanical Engineering” and “General Economic Cooperation”. 50 representatives of Russian business from 20 regions of the Russian Federation will undergo an intensive internship in the largest organizations in Beijing and Shanghai for a week.

    The rector of the State University of Management Vladimir Stroyev is taking part in the Russian business mission. Let us recall that the State University of Management has been the operator of the program for training Russian specialists abroad for the third year in a row, which is conducted for graduates of the Presidential Program for Training Management Personnel for Organizations of the National Economy of the Russian Federation.

    The business program of internship of Russian specialists in Beijing was opened by the director of the Federal State Budgetary Institution “FRC” Alexey Bunkin, emphasizing that the internship opens up great opportunities for business representatives to establish business contacts, get acquainted with the peculiarities of the organization and management of enterprises, and study the experience of high-tech production.

    Then, the rector of the State University of Management Vladimir Stroyev made a welcoming speech, noting that the program for training specialists abroad is a kind of driver for the development of trade and economic relations between the Russian Federation and other countries, providing participants with the opportunity to establish business contacts for the development of mutually beneficial economic ties and their own business, meet foreign partners, study the equipment and technologies offered, and negotiate with potential partners in specific areas and types of activities. Vladimir Stroyev also emphasized that internships are highly effective in terms of building horizontal ties and partnerships among Russian specialists. The rector of the State University of Management expressed confidence that the implementation of such projects will help form a new generation of entrepreneurs operating on the basis of specially formed competencies and practical skills in building international economic cooperation.

    After the completion of the official opening of the program, representatives of the Trade Mission of the Russian Federation in the People’s Republic of China, the Representative Office of the Ministry of Economic Development of the Russian Federation in the People’s Republic of China, and the Russian House in Beijing made presentations.

    The speakers talked about how to find a Chinese counterparty and start exporting your products to China, about the financial aspects of entering the Chinese market and checking the reliability of Chinese companies. The reports caused a lively discussion and a large block of questions.

    Representatives of Russian departments in China wished the interns fruitful work and successful completion of the program and once again emphasized their readiness to provide assistance and support in the implementation of business projects for the benefit of the interests of Russian-Chinese trade and economic relations.

    The first day’s program ended with an organizational meeting with the working group of the State University of Management under the leadership of Vice-Rector Dmitry Bryukhanov, during which they discussed in detail the upcoming events of the program, the specifics of representing Russian companies at meetings with representatives of the Chinese business community in terms of intercultural communication and the specifics of conducting negotiations with potential partners at B2B and individual meetings.

    Subscribe to the TG channel “Our GUU” Date of publication: 11/5/2024

    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 –

  • MIL-OSI: Terranet invites to presentation of Q3 report on November 7, 2024

    Source: GlobeNewswire (MIL-OSI)

    On November 7, Terranet AB (publ) will release its Q3 report for 2024. On the same day at 10 a.m. CET, the company’s CEO Magnus Andersson and CTO Pierre Ekwall will provide an update on the operations in a webcast.

    The event will be broadcast digitally and is open to the public. The presentation will be held in English. Via the webcast, there is an opportunity to ask written questions.

    Link to the webcast: https://ir.financialhearings.com/terranet-q3-report-2024
    The webcast will be available on both Finwire’s and Terranet’s websites after the broadcast has finished.
      
    For more information, please contact:        
    Magnus Andersson, VD
    E-mail: magnus.andersson@terranet.se

    About Terranet AB (publ)
    Terranet’s goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.

    The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: www.terranet.se

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    The MIL Network –

  • MIL-OSI Asia-Pac: For the1st time three Govt. School Band Teams to perform in the Republic Day Parade 2025

    Source: Government of India

    For the1st time three Govt. School Band Teams to perform in the Republic Day Parade 2025

    School bands from Jharkhand, Sikkim, and Karnataka to perform at the Republic Day Parade and Vijay Chowk

    Jharkhand Girls from rural underprivileged backgrounds to perform at Rostrum opposite Presidential dais

    Posted On: 25 JAN 2025 2:23PM by PIB Delhi

    Three government school teams are all set to perform in the Republic Day Parade for the very first time on 26 January 2025. The team from PM SHRI KGBV Patamda, Jharkhand, will have the honour of performing at the Rostrum opposite the Presidential dais, synchronized with the Army band. Meanwhile, the teams from Govt. Sr. Sec School West Point, Gangtok, Sikkim, and PM SHRI Kendriya Vidyalaya No. 2 Belagavi Cantonment, Karnataka, will showcase their performances at the Vijay Chowk. These school bands are among 16 teams competing in the Grand Finale of the National School Band Competition 6.0, taking place on 24-25 January 2025 at the Major Dhyan Chand National Stadium in New Delhi.

    The Pipe Band Girls Team from PM Shri Kasturba Gandhi Balika Vidyalaya (KGBV) Patamda, East Singhbhum, Jharkhand, showcases an inspiring journey of determination and achievement. This 25-member team comprises girls from underprivileged families, many reliant on farming and daily labour. For most, this is their first train journey to Delhi. They have received guidance from instructors of the Sikh Regiment and Punjab Regiment located at Ramgarh Army Regimental Centre.

     

    The team has been practising the pipe band for the past three years. In the 2024-25 State-Level (Inter-District) School Band Competition held in Ranchi, the team claimed first place in the pipe band category, surpassing the previous year’s champions and a strong Ranchi district team. Emerging from humble beginnings in remote villages, these determined young girls committed themselves to mastering the pipe band, braving freezing mornings and enduring long, gruelling practice sessions with unwavering dedication.

     

     

    The Brass Band Girls’ Team: Govt. West Point Sr. Secondary School, Gangtok, Sikkim, has set benchmarks of excellence, claiming state, zonal, and national-level accolades. Competing against seven champion teams, the team showcased unmatched dedication and emerged as Eastern Region Champions. Many of these students hail from humble and challenging backgrounds.

     

     

    The pipe band (boys) contingent of PM SHRI Kendriya Vidyalaya No. 2 Belagavi Cantt., Karnataka, has many students from families with parents serving in the Indian Army. The team has been trained by MLIRC (Maratha Light Infantry Regimental Centre Belagavi).

    In tandem with the “whole of Government approach”, initiative has been taken for training of PM SHRI school band teams by the band instructors/teams of Army Regimental Centres. Training has begun in 11 States/UTs and will commence shortly in the rest of the States/UTs. Subsequently, more schools would join the Band System, with support from the Army Regional Centres, opening new opportunities for children. This is a step towards imparting holistic education to students of PM SHRI schools and developing them into well-rounded personalities.

    Under the innovation component of the Centrally sponsored scheme – Samagra Shiksha – financial support is being provided to States/UTs for organizing the Band Competition at the State level.

    The National Education Policy 2020 is the first education policy of the 21st century and aims at large-scale transformational reforms in the education sector. In that direction, this program will not only instil a sense of patriotism and national pride but will also enhance the musical skills of the students and inculcate discipline among them. This initiative aims to rejuvenate the spirit of patriotism and unity amongst school students throughout the country and help in the furtherance of holistic education.

    *****

    MV/AK

    MOE/DoSEL/25 January 2025/4

    (Release ID: 2096083) Visitor Counter : 75

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Year End Review 2024: Department of Water Resources, River Development and Ganga Rejuvenation,

    Source: Government of India (2)

    Posted On: 25 JAN 2025 10:14AM by PIB Delhi

    The Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of JalShakti has been working relentlessly towards achieving the vision and mission of making India a ‘Water Secure Country’ as envisioned by Prime Minister, Shri Narendra Modi. The Ministry of Jal Shakti, formed in 2019 by bringing together all water related departments and organizations under one umbrella Ministry, has been playing a pivotal role in implementation of a focused strategy towards making India ‘Water Secure’ while ensuring optimal utilization of precious and scarce water resources across the nation. During the year2024, the Department of Water Resources, River Development and Ganga Rejuvenation has undertaken several new initiatives and achieved significant outcomes/milestones. Following is some of the key achievements of the Department in 2024:

    1.  ​National Mission forClean Ganga (NMCG)

    National Mission for Clean Ganga, in the year 2024, completed 25 projects which resulted in the completion of a cumulative total of 303 projects, sofar, and also sanctioned 39 new projects amounting to ₹ 2,056 crore, bringing the cumulative total to 488 projects sanctioned worth ₹ 39,730 crore. In sewerage infrastructure, 12 projects for the creation/ rehabilitation of 305 MLD sewage treatment capacity have been sanctioned between January to December 2024. In the same period, 16 projects for the creation/ rehabilitation of 750 MLD sewage treatment capacity have been completed. Till date, a total of 203 sewerage infrastructure projects have been sanctioned in the Ganga Basin for the creation of 6,255 MLD sewage treatment capacity and the laying of a 5,249 km sewer network.

    Other key achievements during the year 2024 are as follows:

     

    (A) Inauguration and Laying of Foundation Stones Sewerage infrastructure projects by Hon’ble Prime Minister (Under Nirmal Ganga)

     

    • On 25thJanuary 2024, the Hon’ble Prime Minister inaugurated the following projects with a cumulative cost of ₹ 790.5 Crores from Bulandshahr, Uttar Pradesh.

     

    1. Construction of 30 MLD STP at Masani, Mathura (under Hybrid Annuity-basedPPP (HAM) model under Namami Gange Program), Rehabilitation of existing (30 MLD at Trans Yamuna and 6.8 MLD STP at Masani, Mathura) total 36.8 MLD and Construction of 20 MLD TTRO plant (Tertiary Treatment and Reverse Osmosis Plant), Masani, Mathura 
    1. Construction of 58 MLD STP with 264 km and sewerage Network at Moradabad

     

    • On 1st March 2023, the Hon’ble Prime Minister inaugurated three projects worth
      ₹ 575 crore       from Hooghly, West Bengal. These projects include, 40 MLD STP work with Interception & Diversion at Bally, West Bengal, 60 MLD STP work with Interception & Diversion at Kamarhati and Baranagar Municipalities, West Bengal and 65 MLD STP work with Interception & Diversion at Howrah.

     

    • On 2nd March 2024, the Hon’ble Prime Minister inaugurated twelve projects worth ₹ 2,189 crore from Aurangabad, Bihar. These projects include 60 MLD STP and 162 km sewerage network at Saidpur, Patna, 60 MLD STP at Pahari, Patna, 93 km sewerage network at Pahari Zone IVA (S), Patna, 116 km sewerage network at Pahari Zone V, Patna, 180 km sewerage network at Beur, Patna, 96 km sewerage network at Karmalichak, Patna, 11 MLD STP at Barh, Patna, 10 MLD STP at Sultanganj, Bhagalpur, 9 MLD STP at Naugachia, Bhagalpur, 3.50 MLD STP at Sonepur, Saran, 32 MLD STP at Chhapra, Saran.

     

    • On 10th March 2024, the Hon’ble Prime Minister inaugurated three sewage projects worth ₹ 1,114 crore from Azamgarh, Uttar Pradesh. These projects include 72 MLD STP and I&D network work at Naini (District-G, 42 MLD), Phaphamau (District-F, 14 MLD) and Jhunsi (16 MLD), Prayagraj, 30 MLD STP and I&D network  work at Jaunpur and 45 MLD STP and I&D network work at Etawah.

     

    • On 2nd October 2024, the Hon’ble Prime Minister inaugurated and laid the foundation stone for ten sewage treatment plant (STP) projects with a total cost of ₹ 1,555 crore. Among these, five projects worth ₹ 534.25 crore were inaugurated across Uttar Pradesh and Bihar. Additionally, laid the foundation stone for five more projects across Bihar, Jharkhand, and Uttar Pradesh, amounting to ₹ 1,021 crore.

     

    (B) Inauguration and Laying of Foundation Stones Sewerage infrastructure projects by Hon’ble Union Minister of Jal Shakti (Under Nirmal Ganga)

     

    • On 4th January 2024, the Hon’ble Union Minister for Jal Shakti inaugurated 14 MLD Sewage Treatment Plant (STP) with a 2.4 km Interception & Diversion (I&D) Network worth ₹ 77.36 crores in Baghpat, Uttar Pradesh.

     

    • On 18th January 2024, the Hon’ble Union Minister for Jal Shakti laid the foundation stone for the 220 MLD Meerut sewage treatment plant (STP) with interception and diversion (I&D) project worth ₹ 370 crore in Meerut, Uttar Pradesh.

     

    1. Training on Occupational Health & Safety Audit

    NMCG organized 9 virtual safety training program and trained more than 1,500 officials on “Occupational Health and Safety Audit (OHSA)” From January 2024 to December 2024, to ensure workplace safety and compliance.

    1. Activities Under Biodiversity Conservation (Under Aviral Ganga)

     

    The programme has sanctioned projects focused on protecting and rehabilitating fishery, turtles, crocodiles, and dolphins. Projects Sanctioned in the year 2024 are as under :

     

    • Advancing Rescue System for the protection of stranded Ganges river Dolphins.
    • Conservation, Reintroduction, and Rehabilitation of threatened Turtles along ganga basin.

    · Expanding Conservation Breeding Programme of Freshwater Turtle and Gharial at Kukrail Rehabilitation Centre, Lucknow

    NMCG, in partnership with CIFRI, has successfully implemented fish ranching programs for Indian Major Carps and other species. In 2024, notable achievements include – Ranching of Indian Major Carps (IMC): 49.25 lakhs, Mahseer: 7,370, Hilsa: 42,117 and Hilsa tagging: 1,387 nos.

    1. Important Activities (under Jan Ganga)

     

    • Launch of Namami Niranjana Abhiyan: NMCG launched the “Namami Niranjana Abhiyan” on 20th February 2024, aimed at ensuring the perennial flow of the Niranjana (Falgu) river and bolstering the ongoing efforts of the “Niranjana (Falgu) River Recharge Mission”. The Falgu river, revered as Niranjana in Bodhgaya and Falgu in Gaya, originates from Belgadda in the Simaria block of Chatra district, Jharkhand, holding profound significance in the Hindu Sanatan religion. Pilgrims partake in rituals such as PindDaan and Tarpan for their ancestors using water from the Falgu river.
    • Celebration of International Day of Yoga: On the occasion of the International Day of Yoga, the National Mission for Clean Ganga (NMCG) organized ‘Ghat Par Yoga’ at BSF Camp, Zero Pushta, Sonia Vihar in Delhi on the bank of River Yamuna on 21st June, 2024. Over 1,000 people participated in the event including officials and staff from the NMCG, NGOs under the Yamuna Action Plan (YAP-III) of the Delhi Jal Board (DJB), the Border Security Force (BSF), Ganga Vichar Manch, various other NGOs, as well as students and children.
    • 8thIndia Water Week 2024: The 8th edition of India Water Week (IWW) 2024 was held during 17-20 September 2024, in New Delhi, on the theme “Partnerships and Cooperation for Inclusive Water Development and Management.” This prestigious international event has become a key platform for collaboration in water resource management. The event was inaugurated by the President of India,  alongside Hon’ble Union Minister of Jal Shakti, and Hon’ble Minister of State for Jal Shakti.

     

    • Ganga Utsav- A River Festival 2024: On 4th November 2024, the 8th edition of Ganga Utsav was organized by NMCG at scenic Chandi Ghat in Haridwar to promote the conservation of the Ganga River, emphasize its cultural and spiritual importance, and raise public awareness about cleanliness. The event was inaugurated by Hon’ble Union Minister of Jal Shakti in the august presence of the Hon’ble Union Minister of State for Jal Shakti, Hon’ble Uttarakhand Minister for Women & Child Welfare, Secretary, DoWR, RD & GR, Ministry of Jal Shakti, and DG, NMCG. This eighth edition of the event was the first time held on the riverbank, with celebrations extending across more than 110 districts in the Ganga basin states.The event featured participants from diverse spheres, including students, scientists, spiritual leaders, and more.
    • 9th India Water Impact Summit: The 9th India Water Impact Summit (IWIS) & 2nd Climate Investments and Technology Impact Summit were organised jointly by NMCG & c-Ganga from 4th to 6th December 2024 at Bharat Mandapam, New Delhi.
    1. International Collaboration

     

    • Meeting with German Delegates: On 9th May 2024, a meeting was held with the Deputy Head of the Economic Division, German Embassy to discuss the current status of projects aimed at rejuvenating the Ganga River, supported through bilateral cooperation between India and Germany.
    • Workshop on Strengthening Quality Infrastructure for Water Monitoring of the Ganges River II: NMCG in association with Physikalisch- Technische Bundesanstalt (PTB)  under Indo-German Technical Cooperation Programme organised a 6-day training programme from 22nd July to 31st July 2024.
    • Inception Workshop for District Ganga Plans: On 5th July 2024, NMCG in association with GIZ organized an inception workshop for the District Ganga Plans. The workshop aimed to create comprehensive District Ganga Plans (DGPs) based on a River Basin Management approach, which has been prepared for four pilot districts.
    • Smart Laboratory for Clean Rivers (SLCR): The Smart Lab for Clean Rivers (SLCR) has been set up under the Green Strategic Partnership between India and Denmark to bring global solutions on current challenges in the field of clean river water, conduct collaborative research and development to fit in real environment through Living lab approach and creation of platform between Government authorities, academic institutions and technology providers for knowledge sharing and co-creation to achieve clean river water.
    • Meeting of the Joint Review Committee: On 9th October 2024, the first meeting of the Joint Review Committee (JRC) under the India-Israel Memorandum of Understanding (MoU) was held under the chairmanship of DG, NMCG, to address priority areas such as reducing non-revenue water, urban water management through IoT and AI, wastewater treatment, and sewage sludge management.
    1.  Development of knowledge products (Under Gyan Ganga)

     

    The ‘River Atlas for Ganga Main Stem Districts’, an in-house developed knowledge product of the GKC was launched by the Hon’ble Minister of Jal Shakti on 09thDecember 2024 during the 13th Empowered Task Force Meeting. The atlas comprises maps of River Ganga and its tributaries, covering five main stem states in the Ganga basin – Uttarakhand, Uttar Pradesh, Bihar, Jharkhand, and West Bengal. This comprehensive Atlas is essential for the effective implementation of policies and programs and accurate planning and informed decision-making.

     

    1. ​National Water Mission (NWM)
    • MoU with Girganga Parivar Trust (Girganga) has been signed on 22.10.2024 on Pro bono basis. They have committed to build 11,111 bore well recharge and 11,111 check dams.
    • MoU with Sarkaritel.com/jalprahari.in has been signed on 13.12.2024 on Pro bono basis. They have committed for generating awareness on Water Conservation in the public.
    • MoU with Vyakti Vikas Kendra India (VVKI), the Art of Living has been signed on 16.12.2024 on Pro bono basis. They have committed for creating of Water recharge structure with the help of implementing many River Rejuvenation Programs through Government scheme MGNREGA
    • Central Water and Power Research Station, Pune
    • Central Soil and Material Research Station, New Delhi
    • National Institute of Hydrology, Roorkee
    • Central Water Commission, New Delhi
    • Publication of research/ technical reports – 281 Nos.
    • Organisation of Trainings and workshops – 94 Nos.
    • Training of people for capacity building- 2623 persons
    • Publication of high impact technical report & research papers – 18 Nos.
    • 13 new research schemes has been recommended by Standing Advisory Committee and approved by Secretary (WR).
    • The research project “Hydro-geological Assessment and Socio-Economic implications of Depleting Water Resources in tourist towns of Uttarakhand” has been completed.
    • The research project “Irrigation Efficiency Improvement through On–farm Water Management” has been completed.
    • The research project “Dynamic Downscaling to study Climate Change Impacts on
    • Water Resource in India” has been completed.
    1. ​ National Water Development Agency (NWDA): Inter-Linking of Rivers Project

    Under National Perspective Plan (NPP) formulated by Government of India, 30 inter-basin water transfer links (16 Peninsular and 14 Himalayan component) have been identified by National Water Development Agency for preparation of Feasibility Reports. Detailed Projects Reports (DPRs) of 11 links, Feasibility Reports (FRs) of 26 links and Pre-Feasibility Reports (PFRs) of all the 30 links have been prepared. The Inter-Linking River (ILR) Programme has been taken up on high priority by Government of India. The works related to ILR projects are already in progress. Five links have been identified as priority links by Govt. of India viz., Ken-Betwa Link Project (KBLP), Modified Parbati-Kalisindh-Chambal Link Project (MPKC) and Godavari-Cauvery (G-C) Link Project (comprising of 3 link systems).

    System studies of four link projects viz.; Manas-Sanksoh-Teesta-Ganga (MSTG) link, Ganga-Damodar-Subernarekha (GDS) link, Subernarekha-Mahanadi (SM) link and Farakka-Sunderbans (FS) link have been initiated and the work of these four links has been awarded to IIT, Guwahati, NIT, Patna, NIT, Warangal and NIH, Roorkee respectively. Inception Reports have been submitted in June, 2023 by all the four Institutes. The draft final reports of MSTG and GDS have been submitted by the respective Institutes. The system studies of Mahanadi-Godavari link have been completed by NIH, Roorkee and the Final Report has been submitted in May, 2023. Awarding of work for system studies of southern linkage initiated, however, it may be taken up after finalization of quantity of water that can be transferred from MSTG, GDS, FS and SM link projects to Mahanadi river, as per system studies. 

    Ken-Betwa Link Project (KBLP): is the first inter-linking of rivers (ILR) project for which implementation has been initiated. The project will be of immense benefit to the water starved Bundelkhand Region, spread across the States of Madhya Pradesh and Uttar Pradesh which includes districts of Panna, Tikamgarh, Niwari, Chhatarpur, Sagar, Damoh, Datia, Vidisha, Shivpur&Raisen and Banda, Mahoba, Jhansi & Lalitpur respectively. The status of KBLP is as given below:

     

    1. Subsequent to signing of tripartite agreement in year, 2021, Govt. of India approved implementation of the project in December, 2021 at an estimated cost of Rs. 44,605 Crore with central support of Rs. 39,317 Crore.
    2. With allocation of budget under RE of FY 2021-22, the implementation of the project has started.
    3. Steering Committee and Ken-Betwa Link Project Authority (KBLPA) were been constituted vide Gazette Notification dated 11.02.2022.
    4. KBLPA HQ Office is set up at Bhopal with three more offices at Chhatarpur, Panna and Jhansi, which are fully functional with regular CEO/ACEOs, Director (Fin.) and other officials.
    5. Six meetings of Steering Committee and Six meetings of KBLPA have been held so far.
    6. Initially the focus is on land acquisition, R&R, fulfilling the compliances to the conditions of forest clearance and wildlife clearance.
    7. Greater Panna Landscape Council (GPLC) under Chief Secretary, Govt. of MP has been constituted for implementation of Landscape Management Plan through various stakeholders. Its first meeting was held on 05.09.23. Sub-Committee of GPLC was constituted on 16.10.2023 and its 1st& 2nd meetings were held on 17.10.2023 & 29.11.2023 respectively.
    8. Planning for an Integrated Research and Learning Centre (IRLC) at Panna has already been initiated by WII.
    9. The Monitoring Committee for R&R works of KBLP under Secretary, DoLR, MoRD has been constituted.
    10. Collector, Chhattarpur has made payment of Rs. 197.23 Crore to the affected Families. Whereas, Collector Panna has made payment of Rs.76.82 Crore to the affected families of Panna. The remaining Land Acquisition Payment for Private land in both the districts are in Progress.
    11. The work for engagement of Project Management Consultant (PMC) is in process. 9 bids were received for PMC, Result of Technical Evaluation of Bids was published on the CPP Portal on 22.08.2024. The Financial Proposals of the 5 technically qualified firms were opened on 10.09.2024. 20 meetings of Consultancy Evaluation Committee (CEC) for hiring PMC have been held so far. 20th meeting of CEC was held on 11.09.2024 for financial evaluation of bids. After financial and technical evaluation of bids received, recommendations of the CEC have been submitted to DoWR,RD&GR, MoJS for approval on 13.09.2024.
    12. A Technical Advisory Group for KBLP (TAG-KBLP) for KBLPA has been constituted to review and advise KBLPA on various planning and technical matters on implementation of various components of the link project. 10 meetings of TAG have been held so far.
    13. The tender document for the main component of the project i.e. Daudhan dam and its Appurtenant works (EPC mode) was finalized by Technical Advisory Group of KBLP and the Tender Evaluation Committee (TEC) and floated on CPP portal on 11.08.2023.   The complete proposal of technical and financial evaluation of bids was sent to Ministry of Jal Shakti that has been approved by Ministry. Subsequently, KBLPA has issued Letter of Acceptance to M/s NCC Limited for the work of Daudhan dam on 28.11.2024.
    14. Stage–II Forest Clearance for diversion of 6017.00 ha of forest land for development of KBLP has been accorded by MoEF& CC on 03.10.2023.
    15. The draft tender for EPC execution of Ken-Betwa Link Canal is prepared in two packages and circulated to State Governments of MP and UP for their comments/suggestions. Suggestions from Govt. of UP have been received.
    16. PTR has accepted total 6017 ha non-forest land Transferred/ Mutated. Notification of 6017 ha has been completed by Forest Department under section-29 of Indian Forest Act-1927 and has been published.
    17. Land in submergence: 3239 ha (Govt. Land: 1784.67 ha + Private Land 1454.33 ha) of land is coming under submergence area of Daudhan Dam. Private land of 1454.33 ha and Government land of 1604.429 ha has been mutated in favour of WRD, MP. Balance 180.241 ha Government land is likely to be transferred to WRD, MP soon.
    18. Land Acquisition for Ken Betwa Link canal (99 villages of MP and 10 villages of UP) is under progress.
    19. The work on State specific components like Lower Orr, Kotha Barrage and Bina Complex Multipurpose Project is already in progress. Head Works of Lower Orr has been completed whereas Head Works for Kotha & Bina are ongoing.

    Cumulative Progress (%) upto December, 2024

    1. Lower Orr      : 67.00
    2. Kotha Barrage: 59.00
    3. Bina Complex: 50.20
    1. The preparation of DPRs of components of UP likes two barrages, renovation and modernization of Tanks of Mahoba district, renovation and modernization of three weirs and ken command system is in progress.
    2. Hon’ble Prime Minister Shri Narendra Modi Ji laid the Foundation Stone of KBLP on 25.12.2024 at Khajuraho (Madhya Pradesh).
    3. The project is planned to be completed in 8 years by March, 2030.

     

    Modified Parbati-Kalisindh-Chambal Link Project (MPKC):

     

    1. PFR has been circulated to concerned States. The work of DPRs is under progress.
    2. Memorandum of Understanding (MoU) has been signed on 28.01.2024 amongst States of MP, Rajasthan and Govt. of India.
    3. Memorandum of Agreement (MoA) of Modified Parbati-Kalisindh-Chambal link project has been signed on 05.12.2024 amongst States of MP, Rajasthan and Govt. of India. Subsequently Hon’ble Prime Minister declared the signing of the agreement on 17th December, 2024 at Rajasthan.

     

    Godavari-Cauvery (G-C) Link Project (comprising of 3 link systems):

     

    1. Modified proposal for transfer of 4189 MCM of water from Godavari along with supplementation in Krishna basin through Bedti-Varda link (524 MCM) has been studied by NWDA.
    2. Draft DPR of the modified /revised proposal has circulated to the concerned State/UT during Jan., 2024.
    3. Draft MoA has been prepared for implementation of the project and circulated to concerned State/UT for perusal and observation during April, 2024.
    4. Concerted efforts are being made for building up consensus amongst the States/UT for signing of MoA for the early implementation of this link project.

     

    8th India Water Week 2024:

     

    1. IWW-2024 was successfully organized/held from 17th to 20th September, 2024 at Bharat Mandapam, Pragati Maidan, New Delhi.
    2. The theme of the 8th India Water Week is “Partnerships and Cooperation for Inclusive Water Development and Management”.
    3. The mega event was inaugurated by the Hon’ble President of India.
    4. The four-day multi-disciplinary conference comprises of Ministerial Plenary, Global Water Leaders’ Plenary (2), Country Forum (4), Water Leaders Forum (9), Practitioner’s Forum (8), Startup Forum, Youth Forum, Water Convention (18) one-day study tour and concurrently organized exhibition. Denmark, Australia and Israel were the Partner Countries. There were 15 Partner States viz.; Tamil Nadu, Odisha, Bihar, Chhattisgarh, Kerala, Haryana, Andhra Pradesh, Gujarat, J&K, Madhya Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, Karnataka and Telangana.

    More than 4500 delegates from India & abroad participated in the IWW-2024. About 215 delegates from 40 countries participated in the conference. Parallel to the conference, in the exhibition 143 Exhibitors from Central, States Government, Public Sector undertakings, Private Firms, NGOs, Startups and Schools etc. showcased their technologies.

    1. ​ Central Water Commission (CWC)

          (i)   Central Water Commission has undertaken sedimentation assessment studies of selected reservoirs located in various States using Satellite Remote Sensing technique under the plan scheme “Research & Development Programme in Water Sector”. It is planned to take up the studies in respect of 80 reservoirs during 2021-26. Accordingly, the work of carrying out the study for the first batch of 40 reservoirs was outsourced.  Due to non-availability of either the desired water levels or satellite data for a reservoir on date of satellite pass, study in respect of 31 reservoirs was feasible which has been completed and reports published during 2022 to 2024. Besides this sedimentation studies in respect of 30 reservoirs have been completed in-house using Remote Sensing Techniques. Furthermore, a Google Earth Engine-based tool has also been developed by CWC officers, in-house under Smart Water Resources Modelling Organization (SWRMO) – Centre for Excellence, to automate the assessment of sedimentation in the live storage zone of reservoir.

          (ii)  A World Bank (WB) and Asian Infrastructure Investment Bank (AIIB) team conducted the Mid-Term Review (MTR) mission for the Second Dam Rehabilitation and Improvement Project (DRIP-2) between January 17 and May 3, 2024. The mission held discussions with Implementing Agencies (IAs) in Bhubaneshwar (Odisha), Surat (Gujarat), and New Delhi and undertook field visits to selected dams in Gujarat (Ukai) and Odisha (Hirakud, Rengali). The wrap-up meeting was held in New Delhi, chaired by Joint Secretary, D/o WR, RD&GR, Ministry of Jal Shakti (MoJS) and attended by Project Director, Central Water Commission (CWC), members of the Central Project Management Unit (CPMU), the Engineering and Management Consultant (EMC), and representatives of all Implementing Agencies (IA). As part of the mission, a detailed exercise on the use of the rapid risk assessment tool for Indian dams, in compliance with the National Dam Safety Act 2021, was carried out between March 5 and May 3, 2024.

          (iii) The quarterly dialogues on Coastal Area Management, initiated as per the direction of the Chairman, Central Water Commission (CWC) was held in April and May 2024.These dialogues brought together stakeholders from various levels of government, research institutions, and relevant departments to discuss pressing issues such as coastal erosion, salinity ingress, and the need for robust data collection and management. The dialogues provided a platform for sharing information, best practices, and innovative solutions from all stakeholders. As an outcome of the Quarterly Dialogue, CWC has published a report titled “Status Report on Coastal Area Management- An Indian Perspective, Region Issues & Remedial Measures”. The report provides a comprehensive overview of the challenges and initiatives related to coastal management in India. The report highlights the significant impacts of coastal erosion and salinity ingress, emphasizing the need for robust data collection, effective mitigation strategies, and increased collaboration among stakeholders.

    (iv) A Smart Water Resources Modelling Organization acts as Centre of Excellence to grow as a pioneering hub for developing in-house expertise and innovation in tackling diverse problem statements and studies in water sector and directly reports to Chairman, CWC.

    (v) Memorandum of Understanding (MoU) was signed on 06.06.2024between Central Water Commission (CWC) and IIT, Roorkeefor research work related to Irrigation Efficiency Assessment, Water Accounting studies, Cropped Area Mapping, Water Auditing, Urban Flood Forecasting & Risk Management, Urban Flood Inundation & Hazard Mapping, etc. These works will be carried out through mutual consultations and collaboration, leveraging the expertise and resources of both institutions.

    (vi) A Memorandum of Understanding (MoU) has been signed between Central Water Commission (CWC) and Space Application Centre (SAC) in the field of hydrology and water resources management, leveraging remote sensing and collaborative research efforts for mutual benefit on 08th July,2024.

    (vii) Support for Irrigation Modernization Program (SIMP): Central Water Commission (CWC), DoWR, RD & GR has taken up an initiative Support for Irrigation Modernization Program (SIMP) with technical assistance from theAsian Development Bank (ADB) to modernize Major/ Medium Irrigation (MMI) projects in the country.

    (viii) SIMP is proposed to be taken up in 4 phases. SIMP Phase-1 concluded on 31.12.2021 under which 4 MMI projects have been identified for inclusion under 1st batch of projects for preparation of Irrigation Modernization Plans (IMPs) out of the 57 proposals received from 14 States and 2 UTs. The entire process including the preparation of IMPs, Detailed Project Report (DPRs), detailed designs and final implementation/ project execution is expected to be completed by Phase-4. Implementation of the project would lie with the concerned States who would have an option to either fund it from their own resources or they can avail loan facility from ADB or any other financial institutions.

    (ix) SIMP Phase-2 was initiated from November 2022. Irrigation Modernization Plan (IMP) of four projects namely VanivilasaSagara Project, Karnataka, Palkhed Project Maharashtra, Purna Project, Maharashtra and Loharu Lift Irrigation Project, Haryana have been prepared. As a 1st step for preparation of IMPs, FAO developed RAP-MASSCOTE (Rapid Appraisal Procedure-Mapping System and Services for Canal Operation Techniques) workshops were organized to assess the present status of the identified four projects. The findings of RAP MASSCOTE workshops and issues related to Batch 1 SIMP projects were discussed in a mid-term workshop organized by ADB and CWC on 09.06.2023 at New Delhi.

    For capacity building under SIMP phase-II, the following activities were organized:

    • From 6th to 10th November 2023, a five days training on modernization and design of Pipe Distribution Networks (PDN) was organized at Panchkula/ Chandigarh. 22 Engineers from Karnataka, Maharashtra, Haryana, Punjab and CWC participated in the training.
    • On 15th and 20th December 2023, a Webinar on Irrigation Modernization and Design of PDN Systems was organized.
    • A Training on Asset Management Planning for Irrigation Schemes was held from 8th  to 12th  January 2024 at WALMI, Aurangabad.
    • A training on new technologies in Agriculture and Water Practices was held from 22nd  to 25th  January 2024 at HIRMI, Kurukshetra, Haryana.

    The Preliminary Project Reports (PPR) of all the four projects has been submitted by ADB to the concerned project authorities. PPR of Loharu, Haryana is under process with Govt department. PPR of Palkhed and Purna, Maharashtra is under process in Planning Department of Haryana, PPR of VVS, Karnataka is under process with state finance Govt of Maharashtra.

    PPRs are to be finalized by the states and submitted to DEA. After necessary approval from DEA, action for phase-3 will be taken up for preparation of DPRs.

    (x) A Training program on the application of Rapid Risk Assessment tool, in association with the World Bank for the officers of the core group was held during April 22, 2024 – May 3, 2024 at Auditorium, 1st floor, CWC Library Building, Near Sewa Bhawan, Sector-1, R K Puram, New Delhi. Total 66 officials nominated by CWC, NDSA and States / DRIP IAs for taking forward the assignment of carrying out the Rapid Risk Assessment of specified dams in the country.

    1. GLOF and Flood forecasting activities: –

    CWC finalized the criteria for Risk Indexing of Glacial Lakes in the Indian Himalayan Region in September 2024, which provide a comprehensive methodology for identifying and categorizing Glacial Lakes based on factors such as Glacial Lake size, Glacial Lake type, Side slope, Snout distance from GL etc. and the potential socio-economic impacts of a Glacial Lake Outburst Flood.

    In the year 2024, 2 new stations (Inflow) have started functioning. Currently CWC is providing flood forecast at 340 stations (200-level forecasting stations & 140-inflow forecasting stations). During the period from 1st April to 30.11.2024, 10415 (i.e. 7093 Level and 3322 Inflow) forecasts were issued, out of which 9947 (95.5%) forecasts were found within the accuracy limit (±0.15m for level forecast and ±20% for inflow forecast).During flood season, CWC operates the Central Flood Control Room on 24×7 basis at its headquarter in New Delhi and 36 Divisional Flood Control Rooms spread throughout the country for monitoring flood situation. On an average, about 10,000 forecasts are issued during flood season every year by the CWC. Normally, these forecasts are issued 6 to 30 hours in advance, depending upon the river terrain and location of the flood forecasting sites and their base stations. In addition to conventional flood forecasting techniques, mathematical model forecasting based on rainfall-run off methodology is being used for some areas. This has enabled CWC to issue 7-day advance flood advisory.

    Automated online 7-day flood advisory for all the level and inflow forecasting stations is maintained. “Flood Situation for next seven days” in respect of stations likely to be above warning level has been added in the “Daily Flood Situation Report cum Advisory” based on the 7-day advisory.

    1. Flood Plain Zoning

    In order to have a reasonable degree of protection, floods need to be managed through both structural & non-structural measures so as to reduce the losses. Non-structural measures are planned activities to modify susceptibility due to flood related damages. These are meant to keep people away from floods. Flood Plain Zoning is one of the main non-structural measures for management of floods worldwide.

    A technical committee under the chairmanship of Member (RM) was constituted during November 2022 for formulation of ‘Technical Guidelines on Flood Plain Zoning’ . After due deliberations, the committee submitted the guidelines to Ministry. The guidelines is presently under circulation to the states for their comments/review. Once implemented, these guidelines shall serve as a valuable document in guiding the states in framing their own legislation in protecting their rivers from future encroachments.

    1. Hydrological Studies:

    The success of a project is largely governed by the hydrological inputs. The success of a project is largely governed by the hydrological inputs. The Hydrological Studies Organization (HSO), a specialized unit under Design and Research (D&R) Wing of CWC, carries out hydrological studies in respect of the water resources projects in the country. The inputs in Detailed Project Report (DPR) or Pre- Feasibility (PFR) stage are made available in the form of:

    • Water availability/yield studies.
    • Design flood estimation.
    • Sedimentation studies.
    • Diversion flood studies.

    The country has been divided into 7 zones and further into 26 hydro- meteorologically homogeneous sub-zones and flood estimation models are developed for each subzone to compute the design flood in ungauged catchments. So far, flood estimation reports covering 24 sub-zones have been published. During the year 2024- 25, technical examinations of hydrological aspects of DPRs in respect of 88 projects have been carried out in CWC. Out of this, 46 projects have been cleared and comments were issued for 17 projects. Rest of the projects are under examination.

    Some of the major works carried out during this period are:

    •   Flood frequency analysis & carrying capacity of Yamuna River from Hathnikund Barrage to Delhi.

    •   Hydrology Chapter for Bakchachuu HEP, Ringyang HEP, &RimbiKhola HEP has been submitted.

    •   100 yr& 500 yr Return Period flood of Chandrawal River under Ken Betwa Link project.

    •   Water Availability of the untapped catchment between alignment of feeder canal, Mahalpur barrage and Navnera Barrage Under MPKC link.

    Technical Assistance / Advice tendered

    HSO has provided secretariat assistance to various technical/ expert committees for undertaking special studies on various aspects related to water resources development and management. Some of the important contributions during the year 2024- 25 are as under:

    • Hydrological Studies for Ponnaiyar River Basin, to resolve the interstate issue between Tamil Nadu and Karnataka.
    • Hydrological modeling for heavy rainfall across the Yamuna River catchment in July 2023 caused significant runoff and discharge, leading to rapid water level rises. In this study estimated submergence areas for different return-period floods, analyzed embankment overtopping, and identified drainage congestion and afflux of existing structures using 2-D modeling for the river reach between 21 km upstream of Wazirabad barrage and 10 km downstream of Okhla barrage.

    Hydrological modeling for tackling issues related to high intensity rainfall, riverine flood, drainage and interrelated issues in urban areas.

    1. Planning and Design of Water Resources Projects

    CWC is actively associated with design of majority of the mega water resources projects in India and neighboring countries, viz., Nepal and Bhutan by way of design consultancy or in the technical appraisal of the projects. At present CWC is provided design consultancy to 94 projects. Out of this, 31 projects (including 3 from neighboring countries) are at construction stage, 35 projects (including 2 from neighboring countries) are at DPR stage and 28 projects involve special problems.

    National Committee on Seismic Design Parameters: –

    The National Committee on Seismic Design Parameters (NCSDP) was constituted by MoWR Order dated 21 st October, 1991 with the objective to recommend the seismic design parameters for the proposals received from the dam owners. Member (D&R), CWC is the chairman of the committee with 12 other experts from various engineering disciplines from different technical institutions and Government organizations as its members. Director (FE&SA), CWC is the member Secretary of NCSDP. The 38th meeting of NCSDP was held on 10.05.2024 at CWC, New Delhi under the Chairmanship of Member (D&R) wherein six projects were cleared.

    Further, a special meeting of NCSDP was held on 05.06.2024 wherein the Guideline for Preparation and Submission Of Site-Specific Seismic Study Report of River Valley Project To National Committee On Seismic Design Parameters was revised comprehensively to be in line with the International practices.

    1. National Register of Large Dams:

    Before enactment of Dam Safety Act 2021, Dam Safety Organisation (DSO) , CWC compiled and maintained the register of large dams across the country in the form of National Register of Large Dams (NRLD) based on information provided by State Govts. / PSUs. After enactment of Dam Safety Act 2021, the NDSA has been mandated to maintain National level database of all specified dam in the country. The National Register of Specified (Large) Dams 2023 was released by Hon’ble Vice President of India in International Conference on Dam Safety held during 14th-15th September 2023 at Jaipur. As per NRLD- 2023, there are 6138 constructed and 143 under construction dams in the country. The NRLD, 2023 is available on CWC’s website and can be accessed by l ink- https:// cwc. gov. in/ publication/nrld.

    1. Technical Examination of Instrumentation aspects of the projects:

    Hydroelectric project:-

    Detailed Project Report (DPR)/ construction drawings of 29 river valley projects in various States/ countries namely Andhra Pradesh, Arunachal Pradesh, Gujarat, Himachal Pradesh, Madhya Pradesh, Meghalaya, Odisha, Sikkim Uttarakhand, West Bengal, Jammu & Kashmir, Bhutan and Nepal were examined, out of which 4 projects have been cleared with respect to instrumentation aspects and remaining 25 projects are at various stages of examination.

    Pumped storage Project:-

    Detailed Project Report (DPR)/ construction drawings of 42 river valley projects in various States/ countries namely Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu and Uttar Pradesh were examined, out of which 6 projects have been cleared with respect to instrumentation aspects and for remaining 36 projects, clearance from instrumentation aspects is no longer required as per the latest CEA guidelines.

    1. Standing Technical Advisory Committee of CSMRS

    The Standing Technical Advisory Committee (STAC) was constituted under the Chairmanship of Member (D&R), CWC for providing an overall perspective and guidance in technical scrutiny of research schemes being undertaken at CSMRS. The STAC is composed of 11 members drawn from various public sector institutions and is headed by Member (D& R), CWC. The 39th Standing Technical Advisory Committee (STAC) meeting of CSMRS was held on 25.10.2024

    1. Other Seismic works:

    Work related to technical evaluation and critical examination of web-based tool Seismic Hazard Assessment Information System (SHAISYS) being developed by IIT Roorkee and CWPRS Pune under DRIP is being carried out. A meeting is proposed on 18th December 2024 under the chairmanship of Member (D&R), CWC with the expert of IIT Roorkee at CWC, New Delhi regarding way forward for development of SHAISYS.

     

    1. CWC Activities under National Hydrology Project (NHP):

    Study on “Physical based Mathematical Modelling for estimation of Sediment Rate and Sediment Transport in Seven River Basin” has been completed.

    Extended Hydrological Prediction (multi week forecast) for Yamuna, Narmada and Cauvery basins is in progress.

    • Reservoir Sedimentation Studies using Hydrographic survey for 32 reservoirs” under Phase-I has been completed. Works of Phase II: Consists of 87 reservoirs in 10 states (Rajasthan, Gujrat, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Maharashtra, Andhra Pradesh, Kerala, Telangana, and Odisha is under progress.
    • Supply, Installation, Testing & Commissioning (SITC) of 93 Nos. ADCP (14 + 29 + 50 in three phases) for the measurement of discharge at the HO sites of CWC has been completed. Further procurement of additional 46 no’s ADCP and 8 no’s Total station is in under progress.
    • Supply, Installation, Testing & Commissioning (SITC) of 32 velocity radar sensors for modernization of discharge observations has been completed.
    • 7 no’s of  Water Quality Equipment (ICP-MS and GC-MS) have been commissioned and installation & Commissioning of 3 more Water Quality Equipment (1 GC-MS and 2 ICP-MS) is under process.
    • Consultancy services for “Early Flood Warning System Including Inundation Forecast in Ganga Basin” is in progress.
    • Consultancy services for Development of Decision Support System near to real time for Integrated Reservoir Operation System of Ganga Basin” has been completed.
    • Real Time Data Acquisition System (RTDAS) for Narmada Control Authority (NCA) and Arunachal Pradesh comprising of network of 48 & 50 no’s hydro meteorological Stations respectively has been commissioned.
    • Reservoir Sedimentation Studies using Hydrographic survey for 32 reservoirs” under National Hydrology Project, Phase-I have been completed and reports published and under Phase II studies in respect of 87 reservoirs are taken up.
    1. DAM REHABILITATION AND IMPROVEMENT PROJECT (DRIP) Phase-II and III

    Dam Rehabilitation and Improvement Project (DRIP) is an externally aided project with financial assistance from the World Bank, targeting rehabilitation of some of the selected dams of the Country along with accompanying institutional strengthening component.

    Dam Rehabilitation and Improvement Project (Phase-II & III):

    Based on the success of DRIP Phase- I, Ministry of Jal Shakti initiated another externally funded scheme, DRIP Phase-II and Phase-III. The Union Cabinet has approved the Scheme on October 29, 2020.

    The scheme has provision for rehabilitation of 736 dams located in 19 States (Andhra Pradesh, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal, and three Central Agencies (Central Water Commission, Bhakra Beas Management Board, and Damodar Valley Corporation). It is a State Sector Scheme with Central component, with duration of 10 years, to be implemented in two Phases i.e. Phase- II and Phase-III, each of six years duration with an overlap of two years. The budget outlay is Rs 10,211 Cr (Phase II: Rs 5107 Cr; Phase III: Rs 5104 Cr) with rehabilitation provision of 736 dams. Out of this cost, Rs. 7,000 crore is an external loan and Rs. 3,211 crores would be borne by the respective participating States and the three Central agencies. The funding pattern of scheme is 80:20 (Special Category States), 70:30 (General Category States) and 50:50 (Central Agencies). The scheme also has provision of Central Grant of 90% of loan amount for special category States (Manipur, Meghalaya and Uttarakhand). The DRIP Phase-II and III Scheme is 10 years duration, proposed to be implemented in two Phases, each of six-year duration with two years overlapping. Each Phase has external assistance of US$ 500 M. The Phase-II of the scheme is being co-financed by World Bank and Asian Infrastructure Investment Bank (AIIB), with funding of US$ 250 million each. The loan agreement by World Bank was signed on August 04, 2021 with 10 States (Gujarat, Kerala, MP, Maharashtra, Manipur, Meghalaya, Rajasthan, Odisha, Tamil Nadu, and Chhattisgarh) and became effective from 12th October, 2021. In addition to 10 States, four States (Uttarakhand, Uttar Pradesh, West Bengal and Karnataka) have been notified by World Bank for inclusion under this scheme in June 2022 and their loan declared effective in January 2023.

    The loan agreement by AIIB was signed on 19th May, 2022 with 10 States (Gujarat, Kerala, MP, Maharashtra, Manipur, Meghalaya, Rajasthan, Odisha, Tamil Nadu, and Chhattisgarh) and declared effective on 29th December, 2022 by AIIB.

    Inclusion of four States (Andhra Pradesh, Goa, Punjab, Telangana) and two Central Agencies (BBMB and DVC) is under process.

    Important project achievements include approval of PSTs of 139 dams costing Rs 3715 Cr by the World Bank. The contract(s) amounting approximately Rs 2906 Cr have been awarded by various Implementing Agencies and an amount of Rs 1487 Cr spent as on 30.11.2024 on various project activities including dam rehabilitation, institutional strengthening and project management activities

    A training on DRIP Ph-II &Ph-III was given to 40 officers of Punjab WRD on 12th June 2024 at Shahpur Kandi. Few topics were covered like Overview of DRIP Ph-II &Ph-III scheme; dam structural problems & their identification; Procurement procedures; Hydro-Mechanical structural problems; PST preparation; Financial Management of DRIP scheme etc.

    A three days training on DFR organized during 8th to 10th July, 2024, in which 22 participants from seven (7) states and CWC participated.

     The Management Information System (MIS-with 05 modules) was officially rolled out to SPMU on 14th  August 2024. In this regard a virtual MIS demonstration was organized on 14th August 2024 in which concerned officials of CPMU, SPMU, and EMC participated.

    2nd meeting of National Level Steering Committee (NLSC) on DRIP Phase-II and III chaired by Secretary, DoWR, RD and GR were held on 25.09.2024 at New Delhi to discuss the progress and issues of DRIP Scheme.

    3rd  meeting of Technical Committee of DRIP Phase II and III was held on 18.10.2024 under the chairmanship of Member (D&R), CWC at Dehradun, Uttarakhand in which nodal officer and Project Director of DRIP IAs participated. Deliberations in respect of technical matters with regard to pertaining to implementation of the scheme were held during the meeting.

    1. National Task Force for Integrated Water Resources Development and Management

    National Task Force for Integrated Water Resources Development and Management (NTFIWRDM) has been set up by DoWR, RD & GR vide its OM dated 25.11.2024.

    Sustainable development of water resources and its efficient management is the key to water security and economic growth. As a country, aspiring to be the world leader with the most powerful economy, challenges like increasing population, economic growth, industrialization and urbanization are bound to result in increased and conflicting demands for various purposes across the country. Moreover, the vagaries of climate change have already started to affect the water sector adversely. In the wake of ever-growing challenges in the water resources sector, it has become necessary to prospectively assess the projected water use for various purposes. In view of above, Department of Water Resources, RD & GR has set up a National Task Force for Integrated Water Resources Development and Management (NTFIWRDM) on 25.11.2024 under the chairmanship of Hon’ble Member, Niti Aayog with members from various Govt. Departments and experts from different organisations; thereby comprehensively covering various domains of water resources. Chief Engineer, BPMO, CWC is the Member Secretary of the NTFIWRDM. The NTFIWRDM – 2024 is expected to complete its work within 24 months, with interim reports submitted at yearly intervals.

    (xxii) LIST OF IMPORTANT PUBLICATIONS OF CWC during 2024

    Sl. No.

    Publication

    Released during

    1

    Water Sector at a Glance-2022

    Aug-2024

    2

    Water & Related Statistics-2023

    Sept-2024

    3

    Water Sector at a Glance-2023

    Sept-2024

    4

    National Register of Major & Medium

    Irrigation Projects in India-2024

    Sept-2024

    5

    Compendium on Sedimentation of Reservoirs in India

    August 2024

    6

    Assessment of Area Affected Due to Floods in India

    July 2024

    7

    Report on Flood Damage Statistics (1953-2022)

    July 2024

    8

    Assessment of Area Affected Due to Floods

    in India [Part II: Assessment at Sub-District Level]

    September 2024

    9

    Criteria for Risk Indexing of Glacial Lakes in

    Indian Himalayan Region

    September 2024

    10

    Status Report on Coastal Area Management –

    An Indian Perspective, Regional Issues & Remedial Measures

    September 2024

     

    1. ​Central Ground Water Board (CGWB):

    National Aquifer Mapping and Management Programme (NAQUIM)

    Central Ground Water Board (CGWB) is implementing National Aquifer Mapping and Management program (NAQUIM), which envisages mapping of aquifers (water bearing formations), their characterization and development of Aquifer Management Plans to facilitate sustainable management of ground water resources. Out of 32 lakh sq km of the entire country, entire mappable area of 25 sq lakh km has been covered under this programme. NAQUIM outputs are shared with various stakeholders including the District Authorities. Building on the experiences of the NAQUIM, the NAQUIM 2.0 has been initiated from the year 2023-24 which emphasizes on detailed mapping and implementable management plans for identified priority areas. CGWB has completed 68 such studies (covering nearly 40,000 sq km) in year 2024.

    In order to create infrastructure for data generation under NAQUIM, a Project has been approved by the Public Investment Board (PIB) with an outlay of Rs 805 Cr for implementation by CGWB during the period 2022-2026.  As of now, tenders amounting approximately Rs. 550 Cr have been awarded. 

    One of the components of the project involves the construction of 7000 piezometers and the installation of Digital Water Level Recorders with telemetry devices for strengthening and automation of groundwater monitoring networks in the country.  Construction of piezometers for strengthening groundwater monitoring has been initiated in 15 states (Andhra Pradesh, Telangana, Tamil Nadu, Kerala, Gujarat, Maharashtra, Rajasthan, MadhyaPradesh, Chhattisgarh, UttarPradesh, Bihar, Jharkhand, WestBengal, Odisha and Jammu&Kashmir).  A total of 1796 piezometers have been constructed till 31st December 2024.

    Another component of the project involves construction of 1135 Exploratory Wells (EW) and Observation Wells (OW) for completing the data gap in the NAQUIM project area for which work has been initiated under all awarded packages in 11 states (Andhra Pradesh, Karnataka, Gujarat, Rajasthan, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Bihar, West Bengal, Odisha, Assam). A total of 319 EW/OWs have been constructed till 31st December 2024.

    Ground Water Resources

     

    The Ground Water Resource Assessment for the water year 2024 was carried out jointly by Central Ground Water Board (CGWB) and States/UTs, through the web-based automated application “INDIA-GROUNDWATER RESOURCE ESTIMATION SYSTEM (IN-GRES) for the entire country. The assessment provides the state wise ground water resource scenario and insights required to adopt an integrated and sustainable ground water management in the Country.

    As per the assessment, the total annual groundwater recharge in the country has been assessed as 446.90 billion Cubic Meter (BCM). The annual extractable ground water resource has been assessed as 406.19 BCM. The annual groundwater extraction for all uses is 245.64 BCM. The average stage of groundwater extraction for the country stands at 60.47 %. Out of the total 6746 assessment units (Blocks/ Mandals/ Talukas) in the country, 4951 (73.4 %) assessment units are categorized as ‘Safe’. 711 (10.5 %) assessment units are categorized “Semi-critical’’, 206 (3.05 %) assessment units, have been categorized as ‘Critical’ and 751 (11.1%) assessment units have been categorized as ‘Over-exploited’. Apart from these, there are 127 (1.8%) assessment units, which have been categorized as ‘Saline’ as major part of the ground water in phreatic aquifers in these units is brackish or saline.

    Key Highlights:

    • Total Annual GW Recharge has increased (15 BCM) substantially and Extraction has declined (3 BCM) in 2024 from 2017 assessment. There is slight reduction in recharge and increase in extraction in the present assessment year compared to the preceding year.
    • Recharge from Tanks, Ponds and WCS has shown a consistent increase in the last five assessments. In the year 2024, it has increased by 0.39 BCM w.r.t. 2023.
    • With respect to the year 2017, there is an increase of 11.36 BCM in recharge from Tanks, Ponds & WCS (from 13.98 BCM in 2017 to 25.34 BCM in 2024).
    • The percentage of Assessment Units under Safe Category have increased from 62.6% in 2017 to 73.4 % in 2024 (The percentage of Safe assessment units was 73.14 % in 2023).
    • The percentage of Over Exploited Assessment units have declined from 17.24 % in 2017 to 11.13 % in 2024 (The percentage of OE Assessment units was 11.23% in 2023)

    The Union Minister for Jal Shakti released “National Compilation of Dynamic Ground Water Resources of India 2024” on 31st December, 2024.

    High resolution aquifer mapping and management in Arid areas of India

    • The Central Ground Water Board (CGWB) has undertaken high resolution aquifer mapping in the arid regions of Rajasthan, Gujarat, and Haryana using advanced heliborne geophysical surveys. Under Phase I of the project, an area of 97,637 sq. km has been surveyed, covering 40,313-line km across 92 blocks in these states.
    • Based on the heliborne geophysical survey results, Gram Panchayat-level information of saturated/de-saturated, saline/fresh aquifers, groundwater potential zones, drilling sites, and managed aquifer recharge sites has been identified. Detailed reports have been prepared for 39 out of 92 blocks, comprising 20 blocks in Gujarat, 11 in Rajasthan, and 8 in Haryana.
    • A Coffee Table Book on the Summary of the findings of Heliborne Survey Phase I was released on 19.09.2024 in India Water Week-2024 at Bharat Mandapam, New Delhi by the Hon’ble Minister of State, Jal Shakti.

    Artificial Recharge Activities

    Groundwater augmentation through artificial recharge in identified water stressed areas of Rajasthan, comprising Jodhpur, Jaisalmer, Alwar, Jhunjhunu & Sikar districts of Rajasthan has been taken up in three phases

    • Phase-1: Two large dams have been constructed:
      • Zoned Earth Fill Dam with Clay Core, Indroka, Mandore, Jodhpur
      • Concrete Gravity Dam, Bastawa Mata, Balesar, Jodhpur.
    • Phase-2: 82 WHS (Stone Masonary Check Dams (MCD), Anicuts, Concrete Check Dams (CCD & Recharge shafts) have been constructed in certain water stressed blocks of Jodhpur, Jaisalmer and Sikar district.
    • Phase-3: 39 WHS (Check Dam, Anicut, Model Talab) have been constructed certain water stressed blocks in Jodhpur, Jaisalmer, Sikar, Jhunjhunu and Alwar districts of Rajasthan to know the concentrated effect of artificial recharge.

    Regulation of Ground Water extraction

    • The primary role of Central Ground Water Authority (CGWA) is to regulate groundwater resource exploitation in the country. The Authority has been regulating groundwater development and management by way of issuing ‘No Objection Certificates’ for groundwater extraction to industries, infrastructure projects, Mining Projects, registration of drilling rigs etc., and framed guidelines in this connection.

     

    • Development of a new portal for NoC issuance to ground water users i.e. BhuNeer APP, which is an advanced version of the application processing software of CGWA for issuing NOC to ground water users of Industries, Infrastructure & Mining projects and Bulk Water Supply. The motto of developing this portal is to provide users a smooth experience with new features and functionalities.

    Rajiv Gandhi National Ground Water Training & Research Institute (RGNGWTRI) 

    It is the training wing of CGWB and functions as a `Centre of Excellence’ with the national role of capacity building of Officers and Officials of CGWB, other Central Govt. Depts., State Govt. Depts., Public Sector Undertakings, Non-Governmental Organizations, Academic institutions and other stake holders through three arms -Tier I (National Level), Tier II (State Level) and Tier III (Block level) trainings.

    • During the last 10 years, from 2012-13 to 2024-25(As on 24.12.2024) a total of 1711 training courses (Tier-I, Tier-II & Tier-III) were organized (Male 83,330 + Female 30,369 = 1,13,699 Participants) by RGNGWTRI, Raipur.
    • The institute has also conducted Four trainings for foreign nationals, during the last 10 years

    Development of three Indigenous Softwares as part of Smart India Hackathon (SIH) 2022- a significant step towards Atmanirbhar Bharat

    • Smart India Hackathon (SIH), a nationwide initiative envisioned under the leadership of Hon’ble Prime Minister is an important mega annual event among students to provide solutions through innovations for specific challenges identified by different organizations. It is an annual event organized by the Ministry of Education’s Innovation Cell, All India Council for Technical Education, along with partners. Based on problem statements shared by CGWB and under the mentorship of CGWB scientists, following three software applications were developed by engineering students as a part of Smart India Hackathon (SIH)
    • Hydra-Q: A Standalone desktop application for analysis, visualization and interpretation of hydrochemical data.
    • Aqua Probe: A Standalone desktop application for Pumping Test data analysis.
    • OASIS-G: Online application System for Stable Isotope Studies-Ground Water

    The software applications can be accessed / downloaded from CGWB website (https://www.cgwb.gov.in/freewares-groundwater-data-analysis).

    These freeware applications will be useful for students, researchers and groundwater professionals. So far, the software that are used for such kind of analysis are developed mostly in countries other than India. This is a significant step towards Atmanirbhar Bharat and is likely to reduce India’s dependence on foreign software.

    Aquifer Management for Augmentation and Sustainability of Urban Water Supply- Faridabad

     

    CGWB has taken up a study on augmentation of water supply to Faridabad city through sustainable ground water development in active Yamuna flood plain in 2024. CGWB has signed MoU with Faridabad Metropolitan Development Authority (FMDA)

    Ground Water Quality Analysis

     

    The comprehensive assessment of Ground Water Quality conducted by the Central Ground Water Board (CGWB) provides valuable insights that can guide remedial actions and inform future planning by various stakeholders. Notably, this report on Ground Water Quality is the first to implement a Standard Operating Procedure (SOP) for groundwater quality monitoring, which ensures consistency in data collection, analysis, and interpretation. Additionally, the use of internationally recognized methods significantly bolsters the credibility and technical rigor of the findings. On December 31, 2024, Sh. CR Paatil, Hon’ble Union Minister of Jal Shakti, unveiled the Annual Groundwater Quality Report, 2024.

    Key Highlights:

    • In terms of cation chemistry, calcium dominates the ion content, followed by sodium and potassium. For anions, bicarbonate is the most prevalent, followed by chloride and sulphate. This indicates that overall water in the country is of Calcium-Bicarbonate type.
    • Some regions face sporadic contamination of nitrates, fluoride, and arsenic.
    • Seasonal trends observed in parameters like Electrical Conductivity (EC) and fluoride provide evidence of positive monsoon recharge effects, which improve water quality.
    • From an agricultural perspective, the analysis of Sodium Adsorption Ration (SAR) and Residual Sodium Carbonate (RSC) reinforces the generally favorable suitability of groundwater for irrigation, with over 81% of samples meeting safe thresholds. However, localized issues of high sodium content and RSC values demand targeted interventions to prevent long-term soil degradation.
    • 100% of ground water samples in North-Eastern States are in excellent category for irrigation.
    1.     Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)

    Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26 with an outlay of ₹93,068 Crore to benefit about 22 lakh farmers

    • Against a target of 34.63 Lakh Ha irrigation potential of 25.80Lakh Ha (approx.74.5%) created through AIBP works of the prioritized projects during 2016-17 to 2023-24
    • Nine (09) new MMI projects and two (02) new National projects have been further included under PMKSYAIBP.

     

    Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)- Accelerated Irrigation Benefit Programme (AIBP):

    The Government of India on 27.07.2016 approved funding of the 99 prioritized irrigation projects (and 7 phases) with an estimated balance cost of Rs. 77,595 Crore (Central share- Rs. 31,342 crores; State share- Rs. 46,253 crores) for completion in phases. The works include both the AIBP and CAD works. Funding arrangement for both Central Assistance (CA) and State Share made through NABARD under Long Term Irrigation Fund (LTIF). Targeted Irrigation Potential to be created under the scheme is 34.63 Lakh ha. An expenditure of Rs. 68891 crore (upto March 2024) has been reported to be incurred by the concerned State Governments on these projects since 2016-17. In January 2020, Ministry of Finance conveyed the continuation of ongoing centrally sponsored scheme up-to 31.03.2021.

     

    Physical Progress: Against the target of 34.63 Lakh Ha. Irrigation Potential of about 25.80 Lakh ha. has been created through AIBP works of the prioritized projects during 2016-17 to 2023-24. The potential created during 2024-25 shall be available only after the end of cropping season.

     

    Project Completed under PMKSY-AIBP: AIBP works of 62 prioritized projects out of identified 99 projects (and 7 phases) were reported to be completed till date.

    The Government of India has approved implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26 with an outlay of ₹93,068 Crore on date 15-Dec-2021 to benefit about 22 Lakh farmers. The Union Cabinet has approved central support of ₹37,454 Crore to States and ₹20,434.56 Crore of debt servicing for loan availed by Government of India for irrigation development during PMKSY 2016-21. Accelerated Irrigation Benefit Programme, ‘Har Khet Ko Paani’ and Watershed Development components have been approved for continuation during 2021-26. Total additional irrigation potential creation targeted during 2021-26 under AIBP is 13.88 Lakh hectare. Apart from focused completion of 60 ongoing projects including their 30.23 lakh hectare command area development, 9 additional projects have been taken up till date. Also, two national projects, namely Renukaji Dam Project (Himachal Pradesh) and Lakhwar Multipurpose Project (Uttarakhand) have also been included for central funding of 90% of works of water component under the scheme.

     Inclusion of new Major/Medium Irrigation (MMI) projects as well as funding of National Projects under AIBP.

     Financial progress requirement is dropped for inclusion of a project underAIBPand only physical progress of 50% to be considered.

     Advanced stage (50% physical progress) criteria are relaxed for projects having command area of 50% or more in Drought Prone Area Programme (DPAP), tribal, Desert Development Programme (DDP), Flood prone, Tribal area, Flood prone area, left wing extremism affected area, Koraput, Balangir and Kalahandi (KBK) region of Odisha, Vidarbha& Marathwada regions of Maharashtra and Bundelkhand region of Madhya Pradesh & Uttar Pradesh, as also for Extension Renovation Modernization (ERM) projects and also for States with net irrigation below national average.

     Reimbursement is allowed for due central assistance in subsequent year also.

       Project completion permitted with physical progress of 90% or more.

     Online Management Information System (MIS) has been developed for monitoring of the projects. A nodal officer for each of the 99 priority projects has been identified who updates the physical and financial progress of the project regularly in the MIS.

     GIS based Application has been developed for geo-tagging of project components. Remote Sensing Techniques have been used for digitization of the canal network of the projects. Further, the Cropped Area estimation in the command of 99 priority projects is being carried out annually through remote sensing.

     To resolve the issue of Land Acquisition (LA) and increase water conveyance efficiency, use of Underground Pipeline (UGPL) has been actively promoted. Guidelines for Planning and Design ofPiped Irrigation Network were released by this Ministry in July, 2017.

     Pari-passu implementation of Command area development works in the commands of these projects is envisaged to ensure that the Irrigation Potential Created could be utilized by the farmers. New Guidelines bringing focus on Participatory Irrigation Management (PIM) have been brought out. Further, transfer of control and management of irrigation system to the Water Users’ Association (WUA) has been made necessary condition for the acceptance of CADWM completion.

    The Financial Progress under PMKSY-AIBP is as follows:

     

    Funds Released

    2016-17 to 2023-24

    2024-25 (so far)

    Total

    Central Assistance for AIBP projects

    including special and National Projects

    18550.98

    629.22

    19180.20

    State Share

    33830.83

    180.60

    34011.4

    Total

    52,381.81

    809.82

    53191.6

     

    Special Package for Maharashtra: A Special Package approved on 18.07.2018 which provides Central Assistance to complete 83 Surface Minor Irrigation (SMI) projects and 8 Major / Medium Irrigation Projects in drought prone districts in Vidarbha and Marathwada and rest of Maharashtra in phases up to 2023-24 (extended till March-25). The overall balance cost of the said projects as on 1.4.2018 is estimated to be Rs.13651.61 Crore. Total CA is estimated to be Rs. 3831.41 Crore including reimbursement for expenditureduring 2017-18Balancepotentialof 3. 77 Lakh Ha would be created on completion of these schemes. CA of Rs. 2901.63 crores have been released under the scheme so far. Under the scheme, 53 SMI and 2 MMI projects have been reported to be completed by the State Government of Maharashtra. Overall irrigation potential of 1.66 Lakh ha. has been reported to be created through all these projects during 2018-19 to 2023-24. Further potential created during 2024-25 shall be available only after the end of cropping season.

    Modernization of Command Area Development & Water Management (M-CADWM):

    The Ministry of Jal Shakti is reviewing the CADWM programme to make it more relevant in the current context of water use efficiency and agricultural productivity. The proposed change is a proposed smart irrigation scheme which envisages transforming the existing command (whether rain fed or gravity based) to a Pressurized Piped Irrigation Command (PPIC) by providing pressurized irrigation water from Established source to Farm Gate below Minor (Tertiary) Level Network. This will make the entire command area micro-irrigation ready with robust back-end infrastructure using Surface Water. The farmers shall be empowered by creating a Water User Society, which will also be an “economic entity”.

    The Scheme will develop suitable models for different Agro-Climatic zones, integrating various sources of water, and different levels of water availability, covering both areas of assured irrigation and protected irrigation. These models will pave the way for development of a National Plan for Modernization of water management in rural area in general and irrigation services in particular based on integrated, sustainable, efficient and inclusive water management.

    Polavaram Irrigation Project: Polavaram Irrigation Project was declared as National Project under Section 90 of AP Reorganization Act, 2014, which came into force on 1st  March 2014. The project with 2467.50 m of earth-cum-rock fill dam and 1121.20 m long spillway aims at irrigating 2.91 Lakh ha in erstwhile East Godavari, Visakhapatnam, West Godavari and Krishna districts besides several other benefits envisaged by it. Central Government is funding 100% of the remaining cost of the irrigation component of the project, as on 01.04.2014. Government of Andhra Pradesh is executing the irrigation component of the project on behalf of Government of India. The approved cost of the Project as per Revised Cost Committee (RCC) is Rs 29,027.95 cr at 2013-14 PL and Rs 47,725.74 cr at 2017-18 PL up to FRL i.e. EL +45.72 m. After declaration as National Project, a sum of Rs. 15,605.96 cr has been released for execution of Polavaram Irrigation Project so far.

    The Union Cabinet has approved the revised cost of the PIP in its meeting held on 28.08.2024, with water storage upto EL + 41.15 m at a cost of Rs. 30,436.95 cr with balance central grant for the project limited to Rs. 12,157.53 cr. Further, an amount of Rs. 2,348 cr has been released on 09.10.2024 as advance payment to GoAP on account of execution of Polavaram Irrigation Project in addition to the reimbursement of Rs 15,605.96 cr made to GoAP.

    As reported by Water Resource Department, Government of Andhra Pradesh, an expenditure of Rs 18,348.84 cr has been incurred on the project works up to 30.11.2024, after declaration of Polavaram irrigation project (PIP) as National Project.

    1.  Atal Bhujal Yojana (Atal Jal)

    Atal BhujalYojana (Atal Jal) is a Central Sector Scheme of Government of India with an outlay of Rs 6000 Crore, with focus on community participation and demand side interventions for sustainable ground water management in identified water stressed areas in 8203 water stressed Gram Panchayats of 229 administrative blocks/Talukas in 80 districts of seven States in the country viz. Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh. The scheme, partly funded by the World Bank, is being implemented from 1.04.2020 for a period of 6 years.

    This unique scheme aims at increasing the capacity of States to manage their ground water resources and for ensuring their long-term sustainability with active participation of the local communities through a mix of top-down and bottom-up approaches. It also envisages convergence of various ongoing schemes for implementation of interventions for improving ground water availability with emphasis on demand management and also to inculcate behavioral changes in the community to ensure optimal use of available water resources.

    The launch of Atal Bhujal Yojana heralds a change in the Government policy for ground water management by emphasizing the importance of community participation in planning, execution, and monitoring of scheme activities; convergence of ongoing schemes for implementing interventions aimed at improving ground water availability; focus on demand side management through improving water use efficiency and incentivizing participating States for awareness creation among the masses on the importance of ground water.

    Atal Bhujal Yojana also envisages improving the capacity of States for ground water governance through strengthening of institutions dealing with ground water management, improving ground water monitoring networks, creation of awareness among the public on the importance and criticality of ground water resources and building the capacity of the grass root level stakeholders to plan and utilize the available resources in a judicious manner. It also addresses the gender perspective by making it mandatory to include women in all activities of the scheme.

    Atal Bhujal Yojana is expected to improve ground water conditions in the target areas and to contribute significantly to ensure ground water sustainability for interventions planned under the Jal Jeevan Mission (JJM). It is also expected to contribute to the Hon’ble Prime Minister’s goal of doubling farmers’ income and to result in optimal use of ground water by the stakeholders in the long-run.

    Further, to bridge the gap in the data availability at the GP level for better water management across India, Department of Water Resources, River Development & Ganga Rejuvenation in collaboration with Ministry of Panchayati Raj has taken the initiative to expand water budgeting exercise to non-Atal Jal areas as well by their inclusion in the Gram Panchayat Development Plans (GPDPs).

    Key achievements under Atal Bhujal Yojana are as follows:

    • Public disclosure of data in all the Atal Jal GPs through various modes of disclosure viz., central/state web portals, display board at each GP, social media, wall paintings, distribution of pamphlets/brochure, public meetings and Atal Jal Mobile application.
    • States have used innovative measures like Groundwater Data Information Dissemination Centers, QR codes, social media, etc., to disseminate the groundwater related data to public.
    • Community led Water Budget and WSPs prepared for all the 8203 GPs and updated on yearly basis.
    • Groundwater monitoring system has been strengthened at GP level by providing equipment like Digital Water Level Recorders, water level indicators, rain gauges, water quality testing kits, water flow meters etc. In addition, piezometers have been constructed in GPs for monitoring of water levels.
    • A total of 49 State level, 410 District level, 1152 Block level and 99,406 GP level trainings have been conducted so far.
    • Awareness and sensitization at GP level through innovative Information Education and Communication practices like narrowcasting in Haryana, folk dances/songs in Karnataka, Jal dindis in Maharashtra, Ratri Choupals in Rajasthan have been used to drive the message of sustainable groundwater management.
    • Investment of Rs. 4355 Crore towards implementation of interventions proposed under WSPs through convergence.
    • An area of around 6.7 lakh Hectares has been brought under efficient water use practices including Drip, Sprinkler, Mulching, Crop Diversification etc.
    • More than 70,000 wells are being monitored for water level at GP level and shared with community.
    • More than 90,000 existing Water Conservation and Artificial Recharge structures have been mapped.
    • 813 GPs in 47 Blocks have shown improvement in ground water level.
    • A total of Rs.3420.57 Cr. has been disbursed to the States since the inception of the scheme. A total of Rs.2863.98 Cr. has been utilized by the States since the inception of the scheme.
    • Sixth meeting of National Level Steering Committee (NLSC) for implementation of Atal Bhujal Yojana was held on 07 June 2024.

     

    1. Minor Irrigation Statistics: Progress under the scheme “Irrigation Census”:

     

    Minor Irrigation Census conducted quinquennially in order to create a sound and reliable database on groundwater and surface water minor irrigation schemes in the country. The Minor Irrigation Census is conducted under the centrally sponsored scheme “Irrigation Census” with 100% central funding through which State Statistical Cells constituted under different States/UTs are also supported.

     

    The sixth Minor Irrigation Census and the first Census of Water bodies covering all water bodies in the country, both rural and urban have been completed. All India and State-wise report on 6th Minor Irrigation Census and First Census of Water Bodies has been published and are available at the Department website ‘https://jalshakti-dowr.gov.in’. Key results have been disseminated on Bhuvan portal and the state wise unit level data has also been disseminated on Open Government Data (OGD) platform.

    During 2024, the following progress under the scheme “Irrigation Census” has been achieved:

    • 7th Minor Irrigation Census and 2nd Census of Water Bodies are underway, along with two new censuses: the 1st Census of Springs and the 1st Census of Major and Medium Irrigation Projects, with reference year 2023-24.
    • An all-India Workshop on these Censuses was held in 2023, with participation from all States and Union Territories. NIC has developed a mobile/web application for these censuses, with pilot testing successfully conducted in Uttarakhand, Himachal Pradesh, Odisha, and Meghalaya in month of October, 2024.
    • Six regional workshops for training of trainers for upcoming censuses are being conducted at regional centers in Tripura, Karnataka, Uttar Pradesh, Haryana, Rajasthan, and West Bengal from December, 2024 to January, 2025 to provide training to trainers at State level for further capacity building.
    • Grands-in-aid to States/UTs were released timely on receipt of proposals from eligible States/UTs.

     

    1. ​Flood Management Wing (FM):

     

    Flood Management and Border Areas Programme (FMBAP):

     

    The “Flood Management Programme (FMP)” and “River Management Activities and Works related to Border Areas” (RMBA) under operation during XII Five Year Plan were merged as “Flood Management and Border Areas Programme” (FMBAP) for the period 2017-18 to 2019-20 and further extended up-to March, 2021. Cabinet further approved the continuation of FMBAP scheme during 2021-22 to 2025-26 with an outlay of Rs. 4100 Crore (FMP-Rs. 2940 Crore and RMBA – Rs. 1160 Crore).

    Since the inception of FMBAP (till December 2024), Central Assistance of Rs. 7136 crores have been released to States/UTs under FMP component of Flood Management & Border Area Programme (FMBAP) scheme and Central Assistance of Rs. 1258.73 crores have been released to UTs/States under RMBA component of FMBAP scheme.

     

    Completion of balance works of North Koel Reservoir Project: DoWR, RD & GR has taken up the long pending project for completion of balance works of North Koel Reservoir Project, Bihar and Jharkhand. In August, 2017 the Union Cabinet has approved the proposal for balance works of North Koel Reservoir Project at an estimated cost of Rs. 1622.27 crore during three financial years from the start of the project. Subsequently, at the request of both State Governments, certain other components were found necessary to be included in the project. Complete lining of Right Main Canal (RMC) and Left Main Canal (LMC) was also regarded essential from technical considerations to derive envisaged irrigation potential. Thus, the works of Gaya distribution system, lining of RMC and LMC, remodeling of enroute structures, construction of a few new structures and onetime Special Package for R&R of Project Affected Families (PAFs) were to be provided for in the updated cost estimate. Accordingly, Revised Cost Estimate of the project was prepared. Out of the cost of balance works of Rs. 2430.76 crore, the Central would provide Rs.1836.41 crore. The Cabinet Committee on Economic Affairs has given its approval to the proposal to complete the balance works of North Koel Reservoir Project at a revised Cost of Rs. 2,430.76 crore on 04.10.2023. Project will provide irrigation benefit to 114,021 hectares of land annually in drought prone areas of Aurangabad and Gaya districts of Bihar and Palamau and Garwa districts of Jharkhand. Project also has the provision for supply of 44 MCM water for drinking and industrial water supply. The execution of balance works of the project on turnkey basis by M/s WAPCOS Ltd., a CPSU under DoWR, RD & GR as Project Management Consultant (PMC). 10% works on dam & appurtenant, 100% of additional works of Mohammad Ganjbarrage, 86% works on left main canal and works on Right Main Canal in Jharkhand Portion & 18% works on Bihar portion have been completed.

     

    India and Bangladesh Matters

     

    A Treaty was signed by the Prime Ministers of India and Bangladesh on 12th December, 1996 for the sharing of Ganga/Ganges waters at Farakka during the lean season. As per the Treaty, the Ganga/Ganges waters is being shared at Farakka (which is the last control structure on river Ganga in India) during lean period, from 1st  January to 31st  May every year, on 10-daily basis as per the formula provided in the Treaty. The validity of Treaty is 30 years. The sharing of water as per the Treaty is being monitored by a Joint Committee headed by Members, JRC from both sides. The following India-Bangladesh Joint Committee Meetings have been convened.

     

    • The 83rd  meeting of the Joint Committee on sharing of the Ganga/Ganges waters at Farakka was held at Dhaka on 24th  January, 2024 after a visit to the joint observation site at Hardinge Bridge, on 24th January, 2024.
    • The 84th  meeting of the Joint Committee on sharing of the Ganga/Ganges Waters at Farakka was held at Kolkata on 7th  March, 2024 after visit to the joint observation sites at Farakka on 5th  March, 2024.
    • The 85th  meeting of the Joint Committee on sharing of the Ganga/ Ganges waters at Farakka was held at Dhaka (Bangladesh) on 14th  November, 2024 for the finalization of Annual Report of the lean/dry season of the year 2024.

    During the 83rd  and 84th  Joint Committee meetings, the Indian delegation was led by Mr. Atul Jain, Commissioner (FM), Department of Water Resources, River Development and Ganga Rejuvenation Ministry of Jal Shakti. During the 85th Joint Committee meeting, the Indian delegation was led by Mr. Sharad Chandra, Commissioner (FM), Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti, Government of the Republic of India and Member, India-Bangladesh Joint Rivers Commission. The Bangladesh delegation was led by Dr. Mohammad Abul Hossen, Member, India-Bangladesh Joint Rivers Commission, Ministry of Water Resources, Government of the People’s Republic of Bangladesh.

    1. National River Conservation Directorate (NRCD)

    Cleaning of river is a continuous process and Government of India is supplementing the efforts of the State Governments in addressing the challenges of pollution of rivers by providing financial and technical assistance. Assistance is provided to State Governments for abatement of pollution in identified stretches of various rivers (excluding river Ganga and its tributaries) under the Centrally Sponsored Scheme of National River Conservation Plan (NRCP) on cost sharing basis between the Central & State Governments for taking up various pollution abatement works relating to interception & diversion of raw sewage, construction of sewerage systems, setting up of sewage treatment plants, low cost sanitation, river front/bathing ghat development, etc.

    • Project for ‘Pollution Abetment River Banganga at Katra’ in Jammu & Kashmir at a cost of Rs.92.10 crore was sanctioned.
    • Project for ‘Pollution Abetment and Conservation of river Mindhola at Surat’ in Gujarat at a cost of Rs.98.51 crore was sanctioned.
    • Project for ‘Interception & Diversion of Sewerage Water from Existing Drains to Nearest STP for Treatment Purposes in Jodhpur City for Pollution Abatement of River Jojari at Jodhpur’ in Rajasthan at a cost of Rs.13.10 crore was sanctioned.
    • Project for ‘Sewer rehabilitation of old and deteriorated pipes by Trenchless CIPP Technology for main trunk sewer lines heading towards Nandari and Salawas STPs for pollution abatement of Jojari River at Jodhpur’ in Rajasthan at a cost of Rs.51.99 crore was sanctioned.
    • Project for ‘Design of Complete Sewerage System and Proposal of Development of New STP for Jhalamand Area, Jodhpur for pollution abatement of river Jojari at Jodhpur’ in Rajasthan at a cost of Rs.53.63 crore was sanctioned.
    • Project for ‘Establishing and Commissioning of 30 MLD Sewage Treatment Plant (STP) at Nandari for pollution abatement of river Jojari at Jodhpur’ in Rajasthan at a cost of Rs.53.86 crore was sanctioned.
    • Project for ‘Rejuvenation of Imphal-Manipur River and Faecal Sludge and Septage Management at 27 ULBs’ in Manipur at a cost of Rs.92.39 crore was sanctioned.
    • Project for ‘Elamkulam sewerage project for rejuvenating Chitrapuzha River through restoration of natural streams/outfalls carrying sewage/pollutants-Construction of STP 17.5 MLD’ in Kerala at a cost of Rs.47.53 crore was sanctioned.
    • Project for ‘Perandoor Sewerage Project for Rejuvenating Periyar River through Restoration of Natural Streams/Outfalls Carrying Sewage/Pollutants—Construction of 19 MLD STP (Part 1)’ in Kerala at a cost of Rs.49.78 crore was sanctioned.
    • Project Management Consultant has been appointed for implementation the project of ‘Pollution abatement and conservation of River Nag at Nagpur, Maharashtra’ sanctioned at a cost of Rs.1,926.99 crore with Japan International Cooperation Assistance.
    • Project for pollution abatement of river Devika and Tawi at Udhampur, Jammu & Kashmir sanctioned for Rs.186.74 crore has been completed 3 sewage treatment plants (STPs) with total capacity of 13.06 mld constructed under NRCP.
    • Project for pollution abatement of river Tapi at Surat, Gujarat sanctioned for Rs. 971.25 crore has been completed 11 sewage treatment plants (STPs) with total capacity of 208.97 mld constructed under NRCP.
    • Central Assistance amounting to Rs. 425 crores released to various State Governments/Agencies for implementation of projects under NRCP.
    • Stakeholder Consultation Workshop on Guidelines for National River Conservation Plan and DPR Preparation held on 06th May, 2024 in the presence of Secretary, DoWR, RD & GR. The recommendation and suggestions of the stakeholders are under review and accordingly will be proposed in the revised guidelines of NRCP and DPR guidelines.
    • First meeting of the Stakeholder Advisory Committee (SAC) was held on 31.05.2024 under the Chairpersonship of Secretary, DoWR, RD & GR at Nagpur under the project Condition Assessment and Management Plan of Six River Basins (Cauvery, Periyar, Narmada, Mahanadi, Godavari and Krishna).
    • The project “Assessment of ecological status of 7 rivers viz. Narmada, Mahanadi, Godavari, Cauvery, Periyar, Pamba and Barak for conservation planning” has been entrusted to Wild Life Institute of India (WII) at a sanctioned cost of Rs. 24.56 crore in September, 2020. The project broadly aims to spearhead river conservation in above seven Indian rivers for biodiversity conservation and maintenance of ecosystem services. Intensive ecological studies will be carried out in the seven prioritized river basins of India and ecological status will be assessed. Stake Holders workshops of NRCD- WII held at Bengaluru, Karnataka Cauvery River basin.

     

    1. External Affairs & International Cooperation (EA&IC)

    DoWR, RD & GR has signed a Memorandum of Understanding (MoU) with different countries on cooperation in the field of water resources management and development. For effective implementation of activities under the various signed MoUs, to enhance the collaboration under the MoU, certain activities were undertaken including Joint Working Group (JWG) meeting, the details of which is as follows –

     

    1. MoU with Denmark – The MoU between India and Denmark on Cooperation in the field of Water Resources Management was signed on 12.09.2022. Two projects namely “Centre of excellence on Smart Water Resources Management (CoESWaRM)” and “Smart Laboratories on Clean River (SLCR)” have been identified under the MoU. Indian side Joint Working Group was formed on 05.08.2024. First Joint Working Group (JWG) meeting under the MoU was held on 05th December 2024. In the meeting, it has been agreed to have organizational division at PMU level into two sub-thematic areas under the existing Centre of Excellence (CoE).

     

    1. MoU with European Union – The MoU between India and the European Union on Water Cooperation was signed on 01.10.2016. Three JWG meetings have been convened so far.  Third Meeting of JWG was convened on 12.07.2023 virtually. The 6th EU-India Water Forum meeting was held on 18.09.2024 during the 8th India Water Week in New Delhi. The forum inter-alia explored trilateral collaboration between East Africa, India and the EU to address water challenges in regions like Lake Victoria and Lake Tanganyika. 

     

    1. MoU with Israel: The MoU between India and Israel on Water Resources Management and Development Cooperation was signed on 11.11.2016. A Joint Review Committee (JRC) (Now Steering Committee) has been formed on 20.02.2024 to assess the activities and progress of the projects identified for implementation under the MoU. 1st meeting of the JRC was convened on 9th Oct 2024 recommending the proposal for the “Establishment of India-Israel Centre of Water Technology (CoWT)”.

     

    1. MoC with Japan (Water Resources): The Memorandum of Cooperation (MoC) between India and Japan in the area of Water Resources was signed on 11.12.2019. Two meetings of Joint Working Group (JWG) have been convened so far. 2nd JWG meeting was held on 14.11.2024. In the meeting both sides agreed for extension of the MoU and to identifying additional areas for collaboration.

     

    1. MoU with Morocco- The MoU between India and Morocco on cooperation in the field of Water Resources was signed on 14.12.2017. Four JWG meetings have been convened so far. Fourth JWG meeting was convened on 20.09.2024. It was agreed upon that both the countries will share their experiences, analysis, findings, policies and developments in the field of water resources in its next meeting of JWG.

     

    Bilateral Meetings of Hon’ble Minister of Jal Shakti with the Ministers of Foreign Nations during India Water Week 2024 in New Delhi: –

     

    • Denmark: Mr. C.R. Paatil, Hon’ble Minister of Jal Shakti met with H.E. Mr. Morten Bødskov, Denmark’s Minister of Industry, Business and Financial Affairs. Denmark’s Minister reaffirmed Denmark’s commitment to sustainable water solutions and highlighted the expertise of Danish companies in water management. The Hon’ble Minister of Jal Shakti proposed collaborative initiatives to develop scalable technologies for water challenges, suggesting pilot projects at the district level.
    • Guyana: A significant meeting took place between Mr. C. R. Paatil, Hon’ble Minister of Jal Shakti and Mr. Collin D. Croal, Hon’ble Minister of Housing & Water, Guyana. It was agreed upon that both the countries will share their experiences, policies and developments in the field of water resources
    • Tanzania: Mr. C. R. Paatil, Hon’ble Minister of Jal Shakti, India met with Mr. Mathew Andrea Kundo, Deputy Minister of Water, Tanzania. The Tanzanian Minister proposed discussions on a new project to transport water from Lake Victoria, estimated at $600 million, to address water challenges in Tanzania. Hon’ble Minister of Jal Shakti assured that this proposal would be deliberated upon in the Ministry positively.
    • Zimbabwe: A productive meeting took place between Mr. C. R. Paatil, Hon’ble Minister of Jal Shakti and Mr. Vangelis Peter Haritatos, Hon’ble Deputy Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Zimbabwe. Zimbabwe’s Minister sought innovative financing options beyond traditional avenues such as EXIM etc. Hon’ble Minister for Jal Shakti assured that these matters would be deliberated upon positively, emphasizing that improvements in Zimbabwe’s irrigation sector would significantly enhance food security across Africa.
    1. Barhmaputra & Barak (B&B) Wing

     

    Expert Level Mechanism (ELM)

    During the visit of the Hon’ble President of the People’s Republic of China to India on November 20-23, 2006, it was agreed to set up an Expert-Level Mechanism to discuss interaction and cooperation on provision of flood season hydrological data, emergency management and other issues regarding trans-border Rivers as agreed between them. Accordingly, the two sides have set up the Joint Expert Level Mechanism through a Joint Declaration by both the countries.

    The ELM meetings are held alternately in India and China every year. Fifteen meetings of ELM have been held so far. The 15th meeting of ELM was held at Beijing, China during 13th-14th August 2024. The GoI delegation was led by Shri S.K. Sinha, Commissioner (B&B), DoWR, RD & GR, Ministry of Jal Shakti and the Chinese delegation was led by Mr. Hao Zhao, Director General of the International Economic & Technical Cooperation and Exchange Centre, Ministry of Water Resources, People’s Republic of China.  Representatives of Ministry of External Affairs (MEA), Central Electricity Authority (CEA) and Central Water Commission (CWC) had also participated in the meeting.

    (ii)        INDIA-BHUTAN COOPERATION

    1. Joint Group of Expert (JGE) on Flood Management:

    A Joint Group of Expert (JGE) on Flood Management has been constituted between India and Bhutan to discuss and assess the probable causes and effects of the recurring floods and erosion in the southern foothills of Bhutan and adjoining plains in India and recommend to both Governments appropriate and mutually acceptable remedial measures. Ten meetings of JGE have been held so far. The 10th meeting was held during 28th-29th February, 2024 at New Delhi, India. The GoI delegation was led by Shri S. K. Sinha, Commissioner (B&B), Department of Water Resources, River Development & Ganga Rejuvenation (DoWR, RD& GR), Ministry of Jal Shakti, GoI and the RGoB delegation was led by Mr. Karma Dupchu, Director, National Centre for Hydrology and Meteorology (NCHM), RGoB.

    1. Joint Technical Team (JTT) on Flood Management:

    In accordance with the decision taken during the first meeting of JGE, a Joint Technical Team (JTT) on Flood Management between the two countries was constituted. The purpose of JTT is to assess the field situation and provide technical support to JGE on flood management. Eight meetings of JTT have been held so far. The 8th meeting of JTT was held during 18th–20th November, 2024 at Chalsa, Jalpaigudi, West Bengal. The Indian delegation was led by Shri G.L. Bansal, Chief Engineer, Brahmaputra Basin Organisation (BBO), Central Water Commission, GoI and the Bhutanese delegation was led by Dr. SingayDorji, Chief of Meteorological Services Division (MSD), National Centre for Hydrology and Meteorology, RGoB.

    1. Joint Experts Team (JET) on Flood Forecasting:

    A Joint Experts Team (JET) consisting of senior officials from the Government of India and Royal Government of Bhutan(RGoB) continuously reviews the progress and other requirements of a network of 36 hydro-meteorological sites located in the catchments of trans-border rivers Puthimari, Pagladiya, Sankosh, Manas, Raidak, Torsa, Aie and Jaldhaka. So far, JET has met 38 times alternately in India and Bhutan since its reconstitution in 1992 and the last JET meeting i.e. 38th meeting was held at Mandarmani, West Bengal, India during 10th-11th December, 2024.

    The Indian delegation was led by Shri Subhrangshu Biswas, Chief Engineer, Teesta&Bagarathi-Damodar Basin Organisation (T&BDBO), Central Water Commission, GoI and the Bhutanese delegation was led by Mr. Karma Dupchu, Director, National Centre for Hydrology and Meteorology (NCHM), RGoB.

    13.     NERIWALM

    The North Eastern Regional Institute of Water and Land Management (NERIWALM), under the Ministry of Jal Shakti, continued its vital contributions to water and land management across North East India in 2024. As the only institute of its kind in the region, it upheld its mandate of capacity building and skill enhancementfor efficient management of water and land resources for irrigation and agriculture.

    During the year (January to December, 2024), the institute organized 76 training programmes, reaching 3,173 beneficiaries. Among these were induction-level courses for newly recruited engineers from the Irrigation and Agriculture Departments of Assam, as well as the Brahmaputra Board. A faculty development program on advancements in agriculture and water management was also conducted. NERIWALM collaborated with leading national institutions and agencies to host a two-day National Seminar on Advances in Irrigation Technologies and Management, fostering knowledge exchange and innovation.

    In research and development, the institute undertook a diverse range of projects sponsored by state and central government departments. Key initiatives included the preparation of State-Specific Action Plans for 19 states, evaluations of PMKSY-AIBP and PMKSY-HKKP irrigation projects in Assam and Meghalaya, research project on farmer participation in irrigation management in Manipur, studies on good water management practices and study on the impact of climate change on dam-related hydro-geomorphic and social aspects in Arunachal Pradesh.

    NERIWALM’s academic program also progressed with the enrollment of 15 students in the M.Tech course on Water Resource Management for the 2024-25 session. The institute further strengthened its credentials by developing e-learning modules on water resource management for the i-GOT platform. NERIWALM was accredited as “EXCELLENT” under the Capacity Building Commission’s National Standards, while its Soil and Water Laboratory achieved NABL accreditation.

    14.       NATIONAL HYDROLOGY PROJECT
     

    National Hydrology Project (NHP), with support from the World Bank, envisages establishing a system for timely and reliable water resources data acquisition, storage, collation and management. It has pan-India coverage with 48 Implementing Agencies (IAs) {12 from Central Government (including 3 from River Basin Organisations) and 36 from States/ UTs}. It will also provide tools and systems for informed decision making for water resources assessment, planning and management. The National Hydrology Project has been approved with an outlay of Rs. 3,679.77 Crore as a Central Sector Scheme with 100% grant to State Governments and Central Implementing Agencies. The project originally had a duration of 8 years from 2016-17 to 2023-24. However, Department of Expenditure, Ministry of Finance has accorded approval for extension of project till Sept-2025 within the same allocation.

    Broad objectives of NHP include: a) To improve the extent, quality, and accessibility of water resources information; b) To create decision support system for floods and basin level resource assessment/planning; and c) To strengthen the capacity of targeted water resources professionals and institutions in India.

    Under the ongoing NHP, almost 22960 Real Time Data Acquisition System (RTDAS) surface water and ground water stations have already been installed in the country. Besides, 46 Supervisory Control and Data Acquisition (SCADA) packages have been commissioned; almost 5667 piezometers constructed; 134 stationary as well as mobile water quality labs have been developed/procured/maintained and put into operation;
    high-resolution DEMs, CORS network as well as Geoid model have also been developed. Furthermore, Bathymetric surveys of 464 important reservoirs of the country covering 162 BCM have also been taken up under NHP of which 373 studies have already been completed. Further 36 State Data Centres / Regional data centres / knowledge centres, etc. have been completed under the ongoing NHP. The need for development & maintenance of appropriate institutional framework both at the Central as well as State level for water resources information system intended for collection, collation and dissemination of the database was given shape in the ongoing NHP. As envisaged in the Cabinet note, the National Water Resources Informatics Centre (NWIC) has been created in 2018 and is now functional. Additionally, the formation of the State Water Informatics Centres for development of respective State Water Resources Information Systems was expedited in the ongoing NHP. Till date almost 19 SWICs have already been formed with a few more under process. The information system covering hydro-meteorological, hydro-geological, sedimentation, morphological and water quality data is also important in the context of various studies being done under NHP which
    include IT Applications, Digital Products, geospatial hydro products, etc.

     

    15.     Surface Minor Irrigation (SMI) scheme

     

    Under the Surface Minor Irrigation (SMI) scheme, since 12th plan onwards, 7282 schemes are ongoing with an estimated cost of ₹ 16113.560 crores. Central Assistance (CA) of Rs. 9009.169 crores have been released to states up-to March, 2024. Further, 4965 schemes have been reported to be completed up-to March, 2024. Target irrigation potential creation of these schemes is 11.58 L Ha and out of this, 8.59 L Ha is reported to be created till March, 2024.

     

    16.     Repair, Renovation and Restoration (RRR) of Water Bodies scheme

     

    Under the Repair, Renovation and Restoration (RRR) of Water Bodies scheme, since 12th plan onwards, 3075schemes are ongoing with an estimated cost of Rs. 2834.692 crore. Central Assistance (CA) of Rs. 554.279Crore has been released to states up to March, 2024. Further, 2192 water bodies have been reported to be completed up to March, 2024. Target irrigation potential restoration of these schemes is 2.41 L Ha and out of this, 2.00 L Ha is reported to be restored till March, 2024

     

    18.       Mass Communication Internship programme

     

    DoWR, RD & GR undertook internship programme in mass communication on during 2024.  Students pursuing Degrees or are Research Scholars enrolled in recognized University/Institution in the field of Mass Communication in India are given opportunity to apply as “interns”. The Internship Programme provided short term exposure to “selected candidates” to be associated with the Department’s work related to media/social media activities. The objectives of the programme are to well acquaint the “Interns” with the working of the Department in field of media/social media related activities etc. and simultaneously the “interns” to supplement the process of mass publicity of this Department to create awareness about importance of development and management of water resources in holistic manner.

     

    03 interns were selected for an initial period of 6 months under the program.

    *****

    Dhanya Sanal K

    Director

    (Release ID: 2096022) Visitor Counter : 29

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China sees progress in green transition, climate response

    Source: China State Council Information Office 2

    China has scored remarkable achievements in green and low-carbon development in recent years, accelerating its green transition on multiple fronts while actively contributing to global actions against climate change.
    Green transition
    Wen Hua, an official with the National Development and Reform Commission, said that China’s progress in green development was manifested in several aspects, citing the policy framework for carbon peaking and neutrality, an optimized industrial structure, and higher resource utilization efficiency, among others.
    China has established a “1+N” policy framework for carbon peaking and neutrality, which includes two overarching documents as top-level design, 12 implementation plans targeting specific sectors and industries, and supporting plans covering sectors such as science, technology and finance, Wen said.
    The industrial structure has also been upgraded. While improving energy efficiency and reducing carbon emissions from existing projects, China has set strict energy and environmental standards for new projects.
    In particular, Wen underscored the positive impacts of the large-scale equipment upgrades and trade-ins of consumer goods programs implemented since the start of the year.
    The scheme serves not only as a robust measure to boost investment and consumption, but also a crucial climate policy. By promoting the application of advanced and energy-saving products and equipment, the program has helped reduce energy and carbon intensities across society, Wen said.
    Dong Wancheng, an official with the National Energy Administration, highlighted the country’s intensified efforts in energy transition. Dong said that China has boosted the development of clean energy, with the share of clean energy in total energy use increasing 10.9 percentage points over the past decade.
    Global contribution
    While speeding up its transition towards green and low-carbon growth, China has also played an active role in global climate change mitigation.
    China’s energy transition is making an increasing contribution to the world, said Dong, adding that the country has been sharing high-quality clean energy products with other countries, contributing to the world’s energy transition and carbon reduction.
    For instance, China’s wind power and photovoltaic product exports helped other countries reduce carbon dioxide emissions by about 810 million tonnes in 2023, according to the white paper issued by China’s State Council Information Office in August this year.
    Xia Yingxian, an official with the Ministry of Ecology and Environment, said that China has placed great importance on tackling climate change and has made new strides in this regard.
    According to Xia, China’s carbon dioxide emissions per unit of GDP have logged a sustained decline, and its carbon market mechanism has been further strengthened. He emphasized that the country will steadily expand its national carbon trading market and strive to ensure its healthy and stable operation.
    Noting that the 29th session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change is approaching, Xia said that China will continue to play a positive and constructive role in negotiations.
    Azerbaijan has been selected as the Presidency of the COP29, to be hosted in Baku this November.
    Xia said that China will work with all other parties to support Azerbaijan’s Presidency in achieving positive outcomes from the COP29. 

    MIL OSI China News –