NewzIntel.com

Category: Economy

  • MIL-OSI USA: Duckworth, Durbin, Budzinski Announce $157 Million in Federal Funding for Springfield Rail Improvements Project

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth

    October 25, 2024

    [SPRINGFIELD, IL] – U.S. Senator Tammy Duckworth (D-IL), U.S. Senate Majority Whip Dick Durbin (D-IL) and U.S. Representative Nikki Budzinski (D-IL-13) today announced $157,126,494 in federal funding from the U.S. Department of Transportation (DOT) for the final segment of the Springfield Rail Improvements Project (SRIP).

    The multi-phased project is a large-scale effort supported by local, state and federal funding designed to alleviate rail congestion in downtown Springfield by consolidating train traffic from Third Street to 10th Street and constructing a series of overpasses and underpasses along the corridor.

    “Investing in our rail infrastructure is about growing our economy and making it easier, faster, safer and more efficient so people and goods can get where they need to go,” Duckworth said. “This significant federal investment in the Springfield Rail Improvements Project will help us build a new multimodal transportation center, improve efficiency for passengers traveling between St. Louis and Chicago, support good-paying jobs and make Springfield safer for pedestrians and drivers. I’ll keep working with Senator Durbin and Congresswoman Budzinski to ensure that our communities are receiving the much-needed federal resources they deserve.”

    “Connecting communities is at the heart of transportation and today’s announced federal funding for a new Amtrak Station, rail improvements, and track realignment in Springfield will better connect passengers between St. Louis and Chicago,” said Durbin. “The Springfield Rail Improvements Project is dramatically changing downtown Springfield by reducing rail congestion, creating jobs, and improving safety for passengers, drivers, and pedestrians.  I will continue advocating for strong investments in Illinois’ transportation infrastructure.”

    “The Springfield Rail Improvements Project is revitalizing our downtown by reconnecting our community, reducing rail noise and enhancing public safety. It’s also creating good-paying union jobs along the way,” said Budzinski. “I’m honored to join Senators Durbin and Duckworth to announce $157 million in federal funding to complete the final phase of this important work. This investment and the new 1908 Springfield Race Riot National Monument along the project’s route will honor our history and build a bright future for our city.”

    This phase of the SRIP includes rail improvements, track realignment and the construction of a new Amtrak Station in Springfield. This project will complete the final segment of track realignment to consolidate the Union Pacific and Norfolk Southern corridors into one multitrack corridor through the city, which will advance the efforts to provide a higher speed intercity passenger rail connection between St. Louis and Chicago. In addition to various track improvements and grade crossing separations, the project will also construct a Multimodal Transportation Center to improve public transportation connectivity among intercity passenger rail, local bus service and intercity bus service.

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    MIL OSI USA News –

  • MIL-OSI Europe: Sweden allocates EUR 63 million from previous support packages in financial support to Ukraine

    Source: Government of Sweden

    Sweden allocates EUR 63 million from previous support packages in financial support to Ukraine – Government.se

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    Press release from Ministry of Defence

    Published

    Within the framework for previously military aid packages to Ukraine the Swedish Government will allocate financial support of EUR 63 million or approximately SEK 720 million to Ukraine. The financial contribution will cover EUR 20 million in support to Ukraine’s industrial base. This is based on a Danish model that aims to support procurements from Ukrainian industry in line with Ukraine’s proposals. The Government also intends to allocate approximately EUR 43 million in financial support to a number of multilateral initiatives to support Ukraine.

    Last Thursday, the government decided to authorize the Swedish Defence Materiel Administration (FMV) to negotiate and enter into an agreement with Denmark regarding a donation of 20 million euros for the procurement of defence equipment through the Ukrainian defense industry for donation to Ukraine, as well as to assign the Swedish Armed Forces to transfer the funds to Denmark.

    The Danish model, which Sweden intends to support, is designed to assist in procurements that the Ukrainian industry wishes to carry out. The Danish model includes mechanisms to ensure that the donated funds are used efficiently, and that Ukraine provides feedback on the usage of the delivered equipment. Previous Danish support under this model has enabled Ukraine to produce 18 units of a Ukrainian artillery system. 

    By increasing production in Ukraine, the overall European defense industrial base is strengthened. A reinforced defense industrial base is necessary to meet the substantial needs resulting from the war in Ukraine and the European countries’ efforts to build up their defence capabilities.

    Together with the assignment that the Swedish Defence Materiel Administration already has regarding support to Ukraine in the area of procurement, this assistance to Ukraine’s industrial base will open up further opportunities for cooperation between the Ukrainian and European defence industries. This includes being able to jointly develop innovative solutions that have been directly tested on the battlefield, and also increasing Ukraine’s capacity to produce and maintain defence equipment.

    The Government also intends to allocate approximately EUR 43 million in financial resources to a number of established multilateral initiatives in order to provide rapid and effective support to the Ukrainian Armed Forces. 

    Examples of initiatives that may be supported include some of the capability coalitions established within the framework of the Ukraine Defence Contact Group (UDCG):

    • The Air Force Capability Coalition, acquiring air-to-air missiles for Ukraine’s F-16 programme.
    • The Maritime Coalition, training Ukrainian marine infantry.
    • The Demining Capability Coalition, procuring equipment for demining landmines.
    • The IT Coalition, of which Sweden recently became a member, procuring hardware for communication. 

    Within the framework of this support, Sweden will also contribute to NATO’s Comprehensive Assistance Package (CAP) for Ukraine, which procures military equipment. 

    Press contact

    MIL OSI Europe News –

  • MIL-Evening Report: Why building more big dams is a costly gamble for our future water security and the environment

    Source: The Conversation (Au and NZ) – By John Kandulu, Research Fellow, College of Business, Government and Law, Flinders University

    Climate change and biodiversity loss are mounting threats to Australia’s water security. So ee often hear calls for more dams. But is that the answer?

    Our recent research reveals large dam projects are costly gambles with public money. They often fail to deliver promised economic benefits. They also have major environmental, financial and social impacts.

    In New South Wales, some members of the Lower Lachlan River community were concerned about plans to expand Wyangala Dam. They first asked us in 2020 to investigate its full costs and benefits, with findings presented at a local workshop in 2022.

    The first WaterNSW estimate of capital and operating costs was A$620 million in 2018. Within a few years, it had soared to as much as $2.1 billion. In 2023, the project was scrapped because it wasn’t economically viable.

    Similar concerns surround other projects overseas and in Australia, including Hells Gate Dam in Queensland, and Dungowan Dam and Snowy Hydro 2.0 in NSW.

    To avoid repeating costly mistakes and mismanaging taxpayers’ money, we need a smarter approach to major water projects. This includes independent assessments and greater transparency, with business cases made public and decision-making open to scrutiny. And planning for climate change must become a priority.

    Lessons from past mistakes

    Inadequate economic assessments of big dam projects are a global problem. The Grand Ethiopian Renaissance Dam and India’s Subansiri Lower Hydroelectric Project promised big, but had rising price tags and devastating impacts on ecosystems.

    In Australia and worldwide, big dam cost overruns can be up to 825%. The average overrun is 120%. This casts serious doubt on such projects’ financial and social viability. Public costs for private gains are a major concern.

    Our study reviewed the original business case for the Wyangala Dam expansion. The original study had concluded there would be net social benefits and gave the project the green light.

    Our review found the business case was seriously flawed. It overestimated benefits and grossly underestimated physical capital and environmental costs.

    Estimated building costs blew out by 239%. If the project had gone ahead, the costs would undoubtedly have increased.

    On top of this, assessments of impacts on rivers and wetlands were poor and superficial. They greatly undervalued the environmental effects of expanding the dam, particularly on downstream wetlands.

    On the other side of the equation, its benefits were overblown, particularly for water security and agriculture.

    Local voices believed many of their concerns had been ignored. There were deep concerns that flood-dependent farmers downstream might lose some of their livelihoods. Indigenous communities were worried about their cultural sites being destroyed.

    Our analysis provided a more rigorous assessment of benefits and costs of the Wyangala Dam expansion.

    We found total project costs were underestimated by at least 116%. The benefits were inflated by 56%. This meant the true impacts on the environment, agriculture and local communities were misrepresented.

    Rethinking Australia’s water future

    Our analysis provides a salutary lesson on why we need to rethink water security. Instead of sinking billions into dams, we should find smart and sustainable ways to manage our water.

    The fixation on building and expanding dams means innovative alternatives are often ignored. These other options include recycling water, managing demand and carefully recharging aquifers (using aquifers as underground dams).

    The National Water Grid Fund exemplifies the misguided “build more dams” mindset. Its portfolio of 61 large water projects has a total capital cost estimate of up to $10 billion.

    Despite this massive investment, only 23 of these projects have publicly available business cases. It leaves more than $1.7 billion in committed funding shrouded in secrecy.

    This lack of transparency is alarming, given the history of cost overruns and inadequate assessment of environmental damage. It points to the urgent need to reassess our approach to water security. The public has a right to know that their governments are spending wisely.

    To avoid repeating costly mistakes and mismanaging taxpayers’ money, we need a smarter approach. Independent business cases should be mandated for all major water projects.

    We also need a strong public sector capable of transparent evaluation. Promised new National Environmental Standards as part of reforms to environmental protection laws are likely to require rigorous scrutiny too. We must embrace transparency by opening decision-making to public scrutiny and diverse perspectives, including local voices and Indigenous stakeholders, from the start.

    Finally, infrastructure planning must account for long-term climate impacts on water availability. Planning for climate change is vital.

    As projects such as the proposed Wyangala Dam expansion demonstrate, Australia can no longer afford to gamble its water future on outdated, costly and environmentally destructive solutions. It’s time to end the wasteful spending.

    Instead, we need to channel our efforts into truly effective, sustainable and transparent water management. Strategies must give priority to community needs, First Nations’ water rights, environmental protection and long-term climate resilience.

    John Kandulu is a recipient of funding from various sources, such as state and Commonwealth governments, as well as non-profit organisations. His affiliations include the Centre for Social Impact at Flinders University and the Environment Institute at the University of Adelaide.

    Richard Kingsford receives funding from a range of organisations, including the Australian Research Council, state and Commonwealth governments, non-government organisations, including World Wide Fund for Nature and Australian Conservation Foundation. He is a member of the Wentworth Group of Concerned Scientists and a councillor on the Biodiversity Council.

    Sarah Ann Wheeler receives funding from a range of organisations, including the Australian Research Council, state and Commonwealth governments and non-government organisations.

    – ref. Why building more big dams is a costly gamble for our future water security and the environment – https://theconversation.com/why-building-more-big-dams-is-a-costly-gamble-for-our-future-water-security-and-the-environment-239106

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Heinrich, Luján, Leger Fernández Welcome Over $1 Million to Break Down Barriers to Home Ownership for New Mexicans Living With HIV/AIDS

    US Senate News:

    Source: US Senator for New Mexico Ben Ray Luján

    SANTA FE, N.M. — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), and U.S. Representative Teresa Leger Fernández (D-N.M.) welcomed $1,345,637 for the Santa Fe Housing Trust to provide more pathways to first-time home ownership to 2,050 New Mexicans living with HIV/AIDS.  

    This grant is funded through the U.S. Department of Housing and Urban Development’s Housing Opportunities for Persons With AIDS (HOPWA) Program. The HOPWA program is the only federal program dedicated to the housing needs of people living with HIV/AIDS and their families. 

    During the domestic HIV/AIDS crisis, individuals surviving with HIV/AIDS faced barriers to employment and incurred expensive medical costs. This trend continues and disproportionately impact low-income individuals who are struggling to afford stable housing even before diagnosis and treatment. The financial and health vulnerabilities associated with HIV/AIDS often result in housing instability and homelessness. Research shows individuals living with HIV/AIDS who have a stable place to live have more positive health outcomes and spend less time in hospitals or emergency rooms. 

    “We should be making it easier for all New Mexicans to become homeowners. Full stop,” said Heinrich. “This funding will break down barriers for individuals living with HIV/AIDS to become first-time home buyers, ensuring more folks have a safe and secure place to call home. I’ll keep fighting to increase our housing stock, bring down the cost of housing, and ensure all people in our state have a shot at achieving the dream of home ownership.” 

    “No New Mexican should ever worry about whether they will have a safe place to sleep at night,” said Luján. “I’m proud to welcome more than $1.3 million in federal funding that will help allow New Mexicans living with HIV/AIDS to secure permanent, stable housing so they can focus on their health. I will continue to fight to expand housing options for all New Mexicans.” 

    “Home is more than a roof you live under, it provides safety and stability,” said Leger Fernández. “As we work to tackle the home affordability crisis across the country, we must use all tools available to help. We know one of the biggest hurdles homebuyers face is saving up for a downpayment. This $1.3 million for the Santa Fe Housing Trust will provide funding for important services like down payment reduction assistance for first-time home buyers living with HIV/AIDS. I’ll continue to fight for funding that helps our communities through legislation like my Home of Your Own Act which would also help first time homebuyers with down payment assistance.” 

    Background 

    Heinrich, Luján, and Leger Fernández are tireless advocates for lowering housing costs, increasing housing supply, and expanding housing affordability and access for families in New Mexico. 

    Through Heinrich’s role as a member of the Senate Appropriations Committee, particularly through his seat as Chairman of the Senate Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies, Heinrich has worked to deliver millions of dollars to New Mexico for renters and home buyers. 

    Most recently, Heinrich secured Committee support for the following investments in Fiscal Year 2025 (FY25) Appropriations: 

    In Heinrich’s Fiscal Year 2024 Agriculture Appropriations Bill, he secured $1.6 billion for rental assistance, an increase of $120 million over Fiscal Year 2023. Heinrich’s 2024 Appropriations Bill also provided for a pilot program that decoupled rental assistance from Multifamily Direct Loans, preventing thousands of low-income families from losing rental assistance. 

    Additionally, Heinrich secured $1,100,000 through the Fiscal Year 2024 Appropriations process for Santa Fe Habitat for Humanity to develop land into a mixed-income development focused on building 25 to 30 housing units for working families. In total, Heinrich has secured $14,500,000 in Congressionally Directed Spending (CDS) for northern New Mexico to address the housing shortage. 

    In May, Heinrich, Luján, Leger Fernández, and the N.M. Congressional Delegation welcomed $11.8 million from the U.S. Department of Housing to support public housing authorities build, renovate, and modernize public housing across New Mexico. 

    In February, Heinrich, Luján, Leger Fernández, and the N.M. Congressional Delegation welcomed more than $16 million in federal funding from the U.S. Department of Housing and Urban Development’s (HUD) Continuum of Care program to support New Mexico projects that provide housing assistance and supportive services to people experiencing homelessness. 

    Luján has also been a champion of expanding access to affordable housing for all New Mexicans. Earlier this year, Luján partnered with Heinrich to push for more funding for Tribal housing programs. 

    Through Luján’s work on the Senate Committee on Health, Education, Labor and Pensions, Luján has also fought to secure critical support for individuals living with HIV/AIDS. 

    Luján introduced the bipartisan Ryan White PrEP Availability Act, bipartisan legislation to increase flexibility for Ryan White HIV/AIDS Program clinics, which provide care and treatment for individuals living with HIV/AIDS. 

    In the Fiscal Year 2023 (FY23) Appropriations package, Luján secured $300,000 to advance the goals of his Oral Health Literacy Act and support the Ryan White HIV/AIDS Program. 

    Heinrich and Luján have also introduced a number of bills to tackle New Mexico’s housing crisis. 

    Last month, Heinrich introduced the New Homes Tax Credit Act, legislation that would provide tax credits to incentivize new investments and additional resources for single-family home construction and renovations for working families. The bill would address the lack of housing inventory for individuals and families whose incomes are up to 120 percent of the area median income (AMI), particularly including in areas where middle-income families have historically been priced out. In Albuquerque, Santa Fe, and Las Cruces, New Mexico, for example, this added housing inventory would benefit families with annual incomes of up to $103,680, $109,800, and $78,960, respectively. 

    At a recent roundtable conversation with local educators in Albuquerque, Heinrich announced his Educator Down Payment Assistance Act, legislation designed to help more educators and school staff in New Mexico purchase a home and keep teachers in the communities where they teach.   

    In March, Heinrich co-led the First-Time Homebuyer Tax Credit Act, legislation to support homeownership among lower- and middle-income Americans by establishing a refundable tax credit worth up to 10 percent of a home’s purchase price – up to a maximum of $15,000 – for first-time homebuyers.  

    Heinrich also cosponsored the Housing for All Act, comprehensive legislation to expand access to affordable housing in New Mexico and supporting those experiencing homelessness. The bill would invest in proven solutions and provide a historic level of federal funding for strategic, existing programs to keep people housed and reduce homelessness, as well as for innovative, locally developed solutions to help vulnerable populations experiencing homelessness. 

    Last year, Heinrich introduced the Affordable Housing Credit Improvement Act, which would help build over 14,000 new affordable homes in New Mexico over the next decade, generating over $2.5 billion in wages and business income. The legislation would support the financing of more affordable housing by expanding and strengthening the Low-Income Housing Tax Credit, our country’s most successful affordable housing program.     

    Heinrich also introduced the Delivering Essential Protection, Opportunity, and Security for Tenants (DEPOSIT) Act, which would help an estimated 12,000 New Mexican families access rental housing through the Housing Choice Voucher Program to pay security deposits and get into a rental home. Luján is also a cosponsor of this bill. 

    In January, as Chairman of the U.S. Joint Economic Committee (JEC), Heinrich released a report highlighting policy approaches to increasing housing supply in America. Heinrich also chaired a JEC hearing on the report. His full opening statement can be found here. 

    Luján introduced the bipartisan Homes for Every Local Protector, Educator, and Responder Act of 2023 or the HELPER Act of 2023, legislation that would establish a new home loan program under the Federal Housing Administration (FHA) to make homeownership more accessible to teachers and first responders. 

    Luján also introduced the bipartisan Reforming Disaster Recovery Act, legislation that would establish a community disaster assistance fund for housing. 

    Additionally, Luján introduced bipartisan legislation to expand Native American housing programs that builds on successful Native American housing programs at the Department of Housing and Urban Development (HUD) authorized by the Native American Housing Assistance and Self-Determination Act (NAHASDA). 

    Luján and Heinrich introduced the bipartisan Native American Rural Homeownership Improvement Act of 2021, legislation that would expand an existing U.S. Department of Agriculture (USDA) pilot program and deploy loans to eligible Native borrowers.

    MIL OSI USA News –

  • MIL-OSI USA: CFTC Charges two Louisiana-Based Companies and Cofounder with Multi-Million Dollar Forex Fraud, Failing to Register

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced a civil enforcement action in the U.S. District Court for the Eastern District of Louisiana against NOLA FX Capital Management, LLC, Meteor, LLC, Louisiana limited liability companies, and the founder of both, Michael B. DePetrillo.

    The complaint alleges the defendants operated a commodity pool scheme in which they fraudulently solicited and accepted at least $7.6 million from at least 40 individuals, and misappropriated and commingled pool participant funds. Allegedly, NOLA FX Capital and Meteor acted as unregistered commodity pool operators, and DePetrillo acted as an unregistered associated person of a commodity pool operator.

    The CFTC seeks restitution, disgorgement, civil monetary penalties, restitution, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations, as charged.

    Case Background

    As alleged in the complaint, from approximately July 2017 to the present, the defendants fraudulently solicited pool participants by claiming their funds would be pooled and invested in NOLA FX Fund, LLC, and used to trade foreign currency pairs on a leveraged, margined, or financed basis (“retail forex”). In furtherance of this scheme, the defendants allegedly sent false account statements to pool participants showing purported profits and trading activity, when in fact none existed. Instead of trading as promised, the defendants misappropriated pool funds. The defendants used these misappropriated funds to make payments to existing pool participants in a manner akin to a Ponzi scheme, pay DePetrillo’s personal expenses and to conduct personal trading in DePetrillo’s personal trading accounts.

    Meteor and/or NOLA FX Capital allegedly acted as a commodity pool operator by soliciting, accepting, and receiving funds to trade forex, but failed to register with the CFTC as such, and commingled pool participant funds with the property of others. 

    Related Criminal Action

    The U.S. Attorney’s Office, Eastern District of Louisiana, filed a separate criminal action against Michael B. DePetrillo [United States v. Depetrillo, No. 2:24-mj-00131-DM-1]. 

    The Division of Enforcement staff members responsible for this case are Mike Loconte, Brendan Forbes, Eugenia Vroustouris, Erica Bodin, Stephanie Cooper, Aimée Latimer-Zayets and Rick Glaser.

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Support for SMEs – E-002050/2024

    Source: European Parliament

    14.10.2024

    Question for written answer  E-002050/2024
    to the Commission
    Rule 144
    Georgios Aftias (PPE)

    Based on the data held by the Greek chambers of commerce, EU funding is urgently needed for small to medium-sized enterprises (SMEs). However, access to green financing is not guaranteed because, according to the Piraeus Chamber of Commerce and Industry, reporting criteria are complex since funding is only offered for projects worth over EUR 2 000 000. Thus, this practice automatically excludes SMEs from green financing given that the average loan guarantee offered by the European Investment Bank is EUR 100 000.

    Guaranteed access to funding is essential for SMEs to be able to engage in the green transition. SMEs, which are the backbone of the Greek economy, are driven by sustainability, competitiveness, liquidity, innovation and the skills of their employees.

    In view of this:

    • 1.What will the Commission do for SMEs to obtain flexible financing?
    • 2.Will the reporting process be simplified?
    • 3.When will this process be complete?

    Submitted: 14.10.2024

    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – Spain’s National Recovery and Resilience Plan: Latest state of play – 25-10-2024

    Source: European Parliament

    Spain’s national recovery and resilience plan (NRRP) is the second largest (in absolute figures) financed by the Next Generation EU (NGEU) recovery instrument and its main spending tool, the Recovery and Resilience Facility (RRF). Following the October 2023 amendment of the Spanish NRRP, adding a REPowerEU chapter, the plan’s value reached €163 billion (or 13.1 % of national gross domestic product (GDP) in 2019), an increase of roughly 135 % compared with the original plan of 2021 (€69.5 billion in grants only). The amended plan comes with an increased grant allocation of €79.8 billion and a freshly requested loan allocation of €83.2 billion. The grant part includes the June 2022 upward revision of Spain’s grant allocation of €7.7 billion and the country’s REPowerEU grant allocation of €2.6 billion. In addition, Spain has requested a transfer of its share from the Brexit Adjustment Reserve of €58 million to its NRRP. So far, €48.3 billion of RRF resources (29.6 % of the amended NRRP) have been received. These have been disbursed by the Commission in form of pre-financing and four grant instalments. he amended plan focuses on the green transition, devoting almost 40 % of the resources to it, and fosters the digital transformation by committing 25.9 % of the funds (excluding REPowerEU) to digital projects. In the context of the European Semester, the Commission assessed the plan’s implementation as ‘under way’, yet warned about emerging delays hindering effective and swift implementation. The European Parliament participates in interinstitutional forums for cooperation and discussion on its implementation and scrutinises the European Commission’s work. This briefing is one in a series covering all EU Member States. Fifth edition. The first edition was written by Miroslava Kostova Karaboytcheva. The ‘NGEU delivery’ briefings are updated at key stages throughout the lifecycle of the plans.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Recovery of funds granted to the association Yavuz Sultan Selim – E-002120/2024

    Source: European Parliament

    16.10.2024

    Question for written answer  E-002120/2024
    to the Commission
    Rule 144
    Jean-Paul Garraud (PfE)

    On 24 November 2023, Commissioner Iliana Ivanova replied to a written question I tabled about a Turkish Islamist association, Yavuz Sultan Selim, which had received EU funding[1].

    In the light of our revelations, the Commission said that it had asked the association to terminate the agreement with it and to pay back the funds that had already been disbursed. The Commission also informed the beneficiary of its intention to have it placed under an early detection procedure, a rapid exclusion system intended to sanction EU grant beneficiaries that pose a risk to the EU’s financial interests.

    • 1.Has the Commission recovered the funds paid to the association?
    • 2.Has the Commission placed the association under an early detection procedure?
    • 3.Does the Commission recognise the role we have played in detecting this association?

    Submitted: 16.10.2024

    • [1] https://www.europarl.europa.eu/doceo/document/P-9-2023-002384-ASW_EN.html
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Greece finds itself bottom of the pile in the EU in terms of purchasing power – E-001910/2024

    Source: European Parliament

    Question for written answer  E-001910/2024/rev.1
    to the Commission
    Rule 144
    Afroditi Latinopoulou (PfE)

    According to recent statistics published by the European statistical office (Eurostat), Greece’s gross domestic product (GDP) per capita, measured in purchasing power standards (PPS), stood at 67 % of the EU average in 2023. This means that, of the 27 Member States, Greece ranked 26th in terms of GDP per capita expressed in PPS in 2023. These unnerving figures illustrate the extent of the economic disadvantage experienced by Greek citizens compared to other Europeans and highlight the urgent need for substantial reforms and targeted policies to strengthen the Greek economy.

    In view of this:

    • 1.What specific measures could it take to help bridge the substantial gap between Greece and wealthier Member States?
    • 2.Does it ensure that the money provided from the Recovery and Resilience Fund to support investment in sectors that can boost the economy and create jobs has the desired impact? If so, how?

    Submitted: 1.10.2024

    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Pro-Hamas NGO funded by the EU – P-001656/2024(ASW)

    Source: European Parliament

    In June 2024, the European Council reiterated its strongest condemnation of the brutal terrorist attacks conducted by Hamas and other terrorist groups on 7 October 2023[1].

    Hamas is listed under the EU terrorist list[2]. The EU established restrictive measures against those who support, facilitate or enable violent actions by Hamas and the Palestinian Islamic Jihad in January 2024[3].

    The organisation ‘Şark Forum Derneği[4]’ is currently not receiving any funding. In the past, it received funding (to be shared with partners) as coordinator of four projects from Erasmus+ programme for already finalised projects: EUR 85 173 in 2021 and EUR 18 755 in 2020[5].

    The Commission is politically committed and legally bound to ensure that organisations and projects involved in criminal, unethical practices or those incompatible with EU values do not receive EU financial support.

    The Commission will immediately take action should it become aware of any proven evidence in this respect by excluding from EU funding entities guilty of terrorism financing or terrorism offences under the Early Detection and Exclusion System[6].

    The safeguarding of the proper use of EU funds is further ensured by various mechanisms (e.g. suspension of contract or payments and contract termination) framed by the Financial Regulation[7] and relevant agreements concluded with recipients of EU funds. Entities implementing EU funds are also subject to EU restrictive measures[8].

    Furthermore, t he recently adopted Financial Regulation (recast) introduced specific provisions reinforcing the protection of EU values including a specific exclusion ground under the Early Detection and Exclusion System for entities that engage in activities that are contrary to the EU values.

    • [1] https://www.consilium.europa.eu/media/qa3lblga/euco-conclusions-27062024-en.pdf
    • [2] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02001E0931-20240221
    • [3] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02024D0385-20240119
    • [4] https://www.sharqforum.org/
    • [5] These figures are those granted by the national agency to the entire consortium managing each project after finalisation.
    • [6] https://commission.europa.eu/strategy-and-policy/eu-budget/how-it-works/annual-lifecycle/implementation/anti-fraud-measures/edes_en
    • [7] Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast).
    • [8] Article 215 of the Treaty on the Functioning of the European Union.
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Ensuring reliable and fast connections in rural areas and regions bordering Russia – E-001723/2024(ASW)

    Source: European Parliament

    The Commission is committed to ensuring that everyone, everywhere in the EU has access to high-speed connectivity. The targets set in the Digital Decade Policy Programme to connect all EU households to gigabit networks and ensure 5G coverage across all populated areas by 2030[1] apply also to the rural areas.

    According to the second annual report on the State of the Digital Decade[2], at the end of 2023 very high-capacity networks coverage in the EU’s rural areas reached 56% of households, while 5G coverage amounted to 74%. Reaching the targets may require at least a total investment of EUR 200 billion[3], including both private and public funding.

    The Commission supports the deployment of digital infrastructures through numerous funds. The Connecting Europe Facility Digital[4] with a budget of EUR 2 billion supports, inter alia, the deployment of standalone 5G infrastructures for rural communities in sectors like smart farming and border control.

    This is in particular important in regions bordering Russia in the specific context of its full-scale invasion on Ukraine. The budget allocated to connectivity under the recovery and resilience facility reaches almost EUR 14 billion[5].

    With a budget of EUR 2.4 billion the Infrastructure for Resilience, Interconnectivity and Security by Satellite programme[6] will also contribute to the coverage of rural areas.

    Connectivity is also supported under the cohesion funds, e.g. by the European Regional Development Fund (about EUR 2.3 billion[7]) and through InvestEU[8].

    Finally, the White Paper[9] adopted in February 2024 presents the challenges and opportunities Europe faces in the rollout of future secure and resilient connectivity networks and proposes several scenarios to improve the EU regulatory and investment frameworks to facilitate the achievement of EU digital objectives.

    • [1] The Digital Decade Decision (https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=LEGISSUM:4646000) sets out digital targets grouped into four cardinal points, which were first identified in the Digital Compass Communication as key areas for the digital transformation of the EU: digital skills, digital infrastructures, the digitalisation of businesses and the digitalisation of public services, COM(2021) 118 final, https://eur-lex.europa.eu/legal-content/en/TXT/?uri=CELEX%3A52021DC0118
    • [2] https://digital-strategy.ec.europa.eu/en/news/second-report-state-digital-decade-calls-strengthened-collective-action-propel-eus-digital
    • [3] https://digital-strategy.ec.europa.eu/en/library/investment-and-funding-needs-digital-decade-connectivity-targets
    • [4] https://digital-strategy.ec.europa.eu/en/activities/cef-digital
    • [5] https://ec.europa.eu/economy_finance/recovery-and-resilience-scoreboard/assets/thematic_analysis/scoreboard_thematic_analysis_connectivity.pdf
    • [6] https://defence-industry-space.ec.europa.eu/eu-space/iris2-secure-connectivity_en
    • [7] https://ec.europa.eu/regional_policy/funding/available-budget_en
    • [8] https://digital-strategy.ec.europa.eu/en/policies/broadband-public-and-private-funds-financing-broadband-deployments
    • [9] https://digital-strategy.ec.europa.eu/en/library/white-paper-how-master-europes-digital-infrastructure-needs
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Italy: ACEA: €500 million from EIB and CDP covered by SACE guarantee for electricity distribution network investments

    Source: European Investment Bank

    • The agreement aims to strengthen Areti’s electricity infrastructure and supports REPowerEU objectives.
    • The first tranche of €320 million was signed today, with a second tranche of €180 million to be signed in 2025.

    The modernisation, upgrade and expansion of Areti’s electricity infrastructure – a company fully owned by ACEA Grup and responsible for the mains network in Rome and Formello – aims to provide increasingly efficient services to citizens.

    This is the main objective of the €500 million financing granted directly to ACEA by the European Investment Bank (EIB), covered by SACE’s Archimede guarantee, and by Cassa Depositi e Prestiti (CDP) with funding made available by the EIB.

    Today in Rome, agreements were signed for the first tranche of financing, totalling €320 million, of which €200 million provided directly by the EIB, with 70% covered by SACE’s Archimede guarantee, and €120 million from CDP using EIB funding. The second tranche of €180 million is scheduled to be signed in 2025.

    Through this transaction, the EIB, CDP and SACE are co-financing Areti’s investment plan in line with the objectives of REPowerEU, the European Union’s plan to reduce dependence on fossil-fuel and accelerating the transition to green energy. The resources available will serve to implement an intervention plan for digitalisation of the infrastructure. More specifically, the interventions will be focused on the following areas:

    • Upgrading Rome’s low and medium voltage network to increase resilience and capacity, including the installation of new lines;
    • Modernising the medium and low voltage network to enhance safety through advanced diagnostics, remote control, and automation;
    • Expanding and upgrading primary stations;
    • Enhancing grid intelligence to enable dynamic management, control of PODs via 2G smart meters and large-scale demand response through artificial intelligence and IoT platforms.

    This transaction reaffirms the EIB and CDP as primary institutional funders of ACEA’s investment plan, and SACE as a strategic financial insurance partner also for the Group’s future operations. SACE’s Archimede guarantee provides coverage of financing and bonds at market conditions for a maximum term of 25 years as leverage for country system competitiveness.

    Fabrizio Palermo, ACEA’s Chief Executive Officer, commented: “The agreements signed today with EIB, CDP and SACE represent for ACEA a system operation of particular strategic importance and certify the value and quality of the investments that the Group has planned for the coming years in the electricity distribution networks. The investments will contribute to the achievement of increasing infrastructure resilience and flexibility thanks to the use of new technologies, such as artificial intelligence.”

    EIB Vice President Gelsomina Vigliotti stated: “This financing reaffirms the EIB’s commitment to supporting the energy transition and achieving the REPowerEU objectives, which we are backing by making available €45 billion of additional financing by 2027. Modernising electricity infrastructure is essential, not only to make the grid more efficient and resilient, but also to enable greater integration of renewable energy into the system.”

    “Thanks to the synergy effectively promoted in recent years with the European institutions” – Dario Scannapieco, Chief Executive Officer of Cassa Depositi e Prestiti commented – “CDP is today in a position to back high impact financial operations of value for the territory. From this perspective, the financing in favour of ACEA further confirms CDP’s commitment to supporting the development and modernisation of Italian infrastructure. The consolidated partnership with the EIB, on many occasions also accompanied by SACE’s contribution, over the years has allowed us to support investments totalling around €13 billion destined for the economic growth of the territories”.

    Alessandra Ricci, Chief Executive Officer of SACE, stated: “We confirm our commitment to supporting investments for competitiveness in Italy through the Archimede Guarantee, such as the upgrading of ACEA’s electrical infrastructure. This new operation reinforces the strong synergy with institutional investors EIB and CDP in projects capable of generating a tangible impact on Italy’s economic fabric”.

    Background information

    The European Investment Bank (EIB) is the European Union’s long-term lending institution and its shareholders are member states. It finances sound investments capable of contributing to strategic EU objectives. The EIB’s projects enhance competitiveness, foster innovation, promote sustainable development and improve social and territorial cohesion while supporting a fair and rapid transition towards climate neutrality. In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

    ACEA is one of the most important Italian industrial groups, listed on the Stock Exchange since 1999. The company is concerned with integrated water service management, electricity distribution, public and artistic lighting, the sale of electricity and gas, power generation mainly from renewable sources and waste treatment and valorisation. It is the leading national water sector operator, with around 10 million residents served, one of the most important Italian players in energy distribution and among the top operators in the environment sector in Italy, managing approximately 1.8 million tons of waste annually.

    Cassa Depositi e Prestiti (CDP), the National Promotional Institution, has been supporting the Italian economy since 1850. Through its operations, it is committed to accelerating the country’s industrial and infrastructure development, with the aim of contributing towards its economic and social growth. CDP centres its operations around the territories’ sustainable development, alongside the growth and innovation of Italian companies, also at international level. It partners the Local Authorities, by way of financing and advisory activities for the implementation of infrastructure and the improvement of public utility services. Moreover, it is actively involved in International Cooperation for the realisation of projects in developing countries and emerging economies. Cassa Depositi e Prestiti’s funding comes entirely from private sources, through postal savings bonds and books and issues on the domestic and international financial markets.

    SACE is the Italian insurance and finance group, directly controlled by the Ministry of Economy and Finance, specialised in supporting businesses and the national economic system through a wide range of tools and solutions to support competitiveness in Italy and worldwide. For over forty-five years, the SACE Group has been the reference partner for Italian companies that export and grow on overseas markets. It also supports the banking system, through its financial guarantees, to facilitate companies’ access to credit, with a view to supporting their liquidity and investments for competitiveness and sustainability as part of the Italian Green New Deal, starting from the domestic market. SACE is present all over the world with 14 offices in target countries for Made in Italy, which have the role of building relationships with primary local counterparts and, through dedicated financial instruments, facilitating business with Italian companies. With a portfolio of insured operations and guaranteed investments of €260 billion, the group serves approximately 50 thousand companies, especially SMEs, supporting their growth in Italy and in about 200 countries around the world.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Urgent strengthening of the EU’s aerial fire-fighting fleet and development of a European partnership – E-001501/2024(ASW)

    Source: European Parliament

    While primary responsibility for civil protection and for providing national disaster-management systems with sufficient capabilities lies with Member States, the Commission has a supporting competence in this area.

    Given the growing concern of wildfires in Europe and to better support Member States, the EU has taken steps to improve preparedness and to bolster firefighting capacities.

    Since 2023, the Union Civil Protection Mechanism[1] (UCPM) has doubled its rescEU transitional fleet of firefighting aircraft during the summer season.

    In 2024, the transitional fleet is composed of a total of 28 assets, available for deployment if there is a request for assistance. This comes in addition to the capacities available in the European Civil Protection Pool[2] as well as to the teams pre-positioned in 2024 in four Member States[3] for a total of almost 600 firefighters.

    For the long term, as part of the rescEU permanent fleet, the Commission has invested significant financial resources for the acquisition of 12 new medium amphibious planes.

    The planes will be hosted by six Member States and are expected to arrive gradually as of 2027. In addition, UCPM grants are currently supporting five wildfire prevention projects of EUR 2.8 million[4], which help enhance national capabilities for wildfire resilience.

    The deployment procedures, agreed with the Member States, are foreseen in Article 12(6) of Decision no 1313/2013/EU[5] and relevant implementing rules[6].

    While there are no comparable European alternatives available on the market at the moment, the Commission is in contact with relevant stakeholders to continue enhancing firefighting capacities in a Team Europe approach.

    • [1] https://civil-protection-humanitarian-aid.ec.europa.eu/what/civil-protection/eu-civil-protection-mechanism_en
    • [2] https://civil-protection-humanitarian-aid.ec.europa.eu/what/civil-protection/european-civil-protection-pool_en
    • [3] Greece, France, Portugal and Spain.
    • [4] https://civil-protection-knowledge-network.europa.eu/projects/ewed, https://civil-protection-knowledge-network.europa.eu/projects/wuitips, https://civil-protection-knowledge-network.europa.eu/projects/fireprime, https://civil-protection-knowledge-network.europa.eu/projects/b-fireprep, https://civil-protection-knowledge-network.europa.eu/projects/feasibility-study-forest-fire-protection
    • [5] Decision No 1313/2013/EU of the European Parliament and of the Council of 17 December 2013 on a Union Civil Protection Mechanism, OJ L 347, 20.12.2013, p. 924-947 as amended by Decision No 2019/420/EU of the European Parliament and the Council of 13 March 2019, OJ L77, 20.3.2019, p. 1-14: https://eur-lex.europa.eu/eli/dec/2013/1313/oj#document1
    • [6] Commission Implementing Decision 2019/1310 of 31 July 2019 laying down rules on the operation of the European Civil Protection Pool and rescEU, OJ L 204, 2.8.2019, p. 94-99.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Impact of water scarcity on Southern European countries including Greece – E-001657/2024(ASW)

    Source: European Parliament

    The EU provides significant financial support for water related investments: In 2021-2027, EUR 13.2 billion of Cohesion Policy funds[1] is earmarked for water management in the EU, including in drinking water supply with a preference for demand side options before investing in additional supply.

    This includes efficiency measures such as leakage reduction of water networks to reduce water losses. Investment in desalination infrastructure must comply with the Do No Significant Harm Principle and could be considered for regions (e.g. islands) in the framework of integrated water management after demand side options have been exploited and if there is no alternative for drinking water supply.

    EU Cohesion Policy in Greece already supports desalination plants to address water scarcity and the need for increased quality standards. In 2014-2020, EUR 49 million for more than 25 desalination projects in insular Greece were funded[2].

    In 2021-2027, EUR 20 million have been earmarked[3] for investments in sustainable water desalination through an integrated implementation model from the source to citizen’s tap.

    Within Greece’s Recovery and Resilience Plan (RRP)[4], a water regulatory authority has been established with the aim to strengthen the institutional framework, supervise the water sector and ensure the sustainability of water services, while Greece benefits from RRP funding for water supply and water saving infrastructure[5].

    The Common Agricultural Policy (CAP)[6], the EU programme for the environment and climate action[7] and s everal European Missions and Partnerships under Horizon Europe[8] also support water resilience, including EU funded research,[9] to minimise negative environmental effects of the current generation of desalination plants.

    • [1]  https://cohesiondata.ec.europa.eu/stories/s/21-27-Sustainable-water-management/ehce-gj6d
    • [2]  https://anaptyxi.gov.gr/el-gr/
    • [3]  Under the ‘Environment and Climate Change’ programme.
    • [4]  Greece’s Recovery and Resilience Plan https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility/country-pages/greeces-re
    • [5]  https://next-generation-eu.europa.eu/index_en
    • [6]  Support under the CAP covers inter alia investments in rainwater harvesting and storage or the use of recycled water for irrigation. https://agriculture.ec.europa.eu/common-agricultural-policy_en
    • [7]  LIFE Programme: https://cinea.ec.europa.eu/programmes/life_en#:~:text=The%20LIFE%20programme%20is%20the%20EU’s%20funding
    • [8]  Of particular relevance are the partnerships ‘Water Security for the Planet’ (https://www.water4all-partnership.eu/ ), the Partnership on Research and Innovation in the Mediterranean Area (PRIMA, https://prima-med.org/ ) together with the Missions ‘Restore our Ocean and Waters by 2030’ (https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe/eu-missions-horizon-europe/restore-our-ocean-and-waters_en ), ‘Adaptation to Climate Change’(https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe/eu-missions-horizon-europe/adaptation-climate-change_en ) and ‘A Soil Deal for Europe’ (https://mission-soil-platform.ec.europa.eu/)
    • [9]  Illustrative is the EU-funded H2020 Wave2O project producing clean water with reduced carbon emissions by using wave-driven desalination systems. Beyond energy consumption/carbon footprint, another area of research focuses on the environmental impact from desalination plants’ discharged brine on marine ecosystems.
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Information concerning Greek arms deliveries to Ukraine – E-001528/2024(ASW)

    Source: European Parliament

    Since the beginning of Russia’s full-scale aggression of Ukraine, the EU and its Member States have delivered unprecedented levels of military support for the Ukrainian armed forces.

    Between 2022 and 2024, the EU mobilised EUR 6.1 billion to incentivise Member States’ deliveries of military equipment in view of addressing Ukraine’s pressing military and defence needs.

    In addition, in March 2024, the EU increased the financial ceiling of the European Peace Facility by EUR 5 billion, by establishing a dedicated Ukraine Assistance Fund. This brings the total financial support allocated via the Facility to EUR 11.1 billion[1].

    Beyond these aggregated numbers of military support to Ukraine provided at the EU level, the EU is not in a position to disclose any information on military support provided by individual Member States.

    The Commission does not coordinate arms deliveries at the EU level. It remains the prerogative of each Member State to communicate on its national military support to Ukraine.

    • [1] Council Decision (CFSP) 2024/890 of 18 March 2024 amending Decision (CFSP) 2021/509 establishing a European Peace Facility, OJ L  2024/890, 19.3.2024.
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI: EXL Enterprise AI Platform accelerates generative AI development for clients with NVIDIA AI software

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, announces the launch of its EXL Enterprise AI Platform, a new technology hub designed to support the rapid-scale development and integration of GenAI solutions into client workflows.

    Developed on the NVIDIA AI Enterprise software platform, the EXL Enterprise AI Platform makes it possible to rapidly deploy specialized industry solutions to transform enterprise workflows. It is designed to not only support the creation of new solutions, but also execute and scale their integration into client ecosystems through EXL’s robust data, AI tooling and engineering capabilities.

    The first capabilities launched on the EXL Enterprise AI Platform are the recently announced EXL Insurance Large Language Model (LLM), XTRAKTO.AI, an intelligent document processing solution, a Smart Agent Assist solution, which uses advanced data and AI technologies to transform contact center operations, and Code Harbor™, a GenAI-powered coding solution that is used to modernize legacy applications to current programming languages. By bringing these and other pioneering GenAI solutions together on a single platform, EXL is making it easier for clients to incorporate AI into existing workflows and business processes.

    “The biggest challenges enterprises are facing when it comes to extracting the full value of GenAI solutions are balancing cost, accuracy and latency. It’s not just about having the newest, biggest LLM or the most innovative point solution – businesses need accurate, fast, reliable solutions with a modular architecture that can be implemented cost-effectively and continue to update as technology evolves,” said Anand “Andy” Logani, EXL’s executive vice president and chief digital officer. “At EXL, we have the right mix of data and AI and industry expertise to scale new GenAI capabilities and help our clients integrate them seamlessly into their existing workflows.”

    “Generative AI is creating unprecedented opportunities for enterprises to boost productivity and drive innovation,” said John Fanelli, vice president, Enterprise Software at NVIDIA. “With NVIDIA AI Enterprise software, the EXL Enterprise AI Platform helps enable businesses to rapidly develop and deploy custom generative AI solutions for industry-specific use cases, code and languages as their needs evolve.”

    The solutions on the EXL Enterprise AI Platform are developed using NVIDIA AI models and NVIDIA AI Enterprise software, including the NVIDIA NeMo framework and NVIDIA NIM microservices, which allows them to be rapidly customized and deployed for clients across industries, geographies and languages.

    EXL is also integrating NIM microservices in the EXL Enterprise AI Platform to power existing EXL platforms such as Medconnection, which supports insurance claims and medical underwriting claims processing, and the LifePRO™ digital suite, an insurance underwriting automation tool.

    About EXL

    EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit http://www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

    © 2024 ExlService Holdings, Inc. All rights reserved. For more information go to www.exlservice.com/legal-disclaimer

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI Europe: Answer to a written question – Dead fish in the Pagasetic Gulf – E-001574/2024(ASW)

    Source: European Parliament

    1. EUR 150 million have been allocated from the 2014-2020 Cohesion Policy programme ‘Transport Infrastructure, Environment and Sustainable Development’ to support the disaster management system of the affected Greek regions to address the consequences of the floods. Additionally, around EUR 13 million have been allocated from the ‘Competitiveness, Entrepreneurship and Innovation’ programme to support the adaptability of enterprises and workers affected by the floods. Under shared management Greece is responsible for the selection and implementation of projects in line with programme objectives and priorities.

    2. The EU Solidarity Fund (EUSF) provides financial assistance to EU countries facing severe natural disasters according to the specific rules set out in Regulation (EC) No 2012/2002[1]. EUSF financial assistance is intended to supplement the countries’ own public expenditure to finance essential emergency and recovery operations. Following Greece’s application, the Budget authority approved mobilisation of EUR  101.5 million of EUSF assistance for Greece following the floods in September 2023. The EUSF aid calculation methodology has been established in 2023 and accepted by the European Parliament and the Council.

    Under the Greek Rural Development Programme 2014-2022, support is foreseen from the European Agricultural Fund for Rural Development for investments to restore agricultural and forestry potential following natural disasters, adverse climatic or catastrophic events amounting to EUR 45 million[2].

    At the end of 2023, the Commission provided an additional exceptional funding of EUR 43 million through the agricultural crisis reserve[3]. These funds were paid to farmers around lake Karla by the end of May 2024.

    • [1] Council Regulation (EC) No 2012/2002 of 11 November 2002 establishing the European Union Solidarity Fund (OJ L 311, 14.11.2002, p. 3) as amended by Regulation (EU) No 661/2014 of the European Parliament and the Council of 15 May 2014 (OJ L 189, 27.6.2014, p. 143) and by Regulation (EU) 2020/461 of the European Parliament and the Council of 30 March 2020 (OJ L 99, 31.3.2020, p. 9).
    • [2] https://www.agrotikianaptixi.gr/prosklisi/1i-prosklisi-ekdilosis-endiaferontos-gia-tin-ypovoli-aitiseon-stirixis-sto-ypometro-5-2-tou-paa-2014-2022/
    • [3] Commission Implementing Regulation (EU) 2023/2820 of 15 December 2023 providing for emergency financial support for the agricultural sectors affected by natural disasters in Greece and Slovenia, OJ L, 2023/2820, 18.12.2023.
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Improving the quality and conditions of traineeships in Europe – E-001632/2024(ASW)

    Source: European Parliament

    1. In the Commission proposal for a Traineeships Directive[1], it is proposed that Member States be required to provide for effective controls and inspections conducted by competent authorities to detect and take enforcement measures against practices where a regular employment relationship is disguised as a traineeship. To this end Member States can make use of EU funds[2], for example to support training of and guidance to labour inspectorates.

    2. Though incentives for offering paid traineeships are not part of the proposed Council Recommendation on a reinforced Quality Framework for Traineeships[3], the proposed recommendation does encourage Member States to provide financial and/or non-financial support such as practical guidance to traineeship providers in applying this recommendation.

    3. According to the proposed Council Recommendation, Member States are to ensure that traineeship providers designate a supervisor. The proposed Council Recommendation does not specify further details, such as the status of supervisors or the recruitment practises .

    • [1]  COM/2024/132, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52024PC0132
    • [2]  For example, the European Social Fund Plus, https://european-social-fund-plus.ec.europa.eu/en#:~:text=What%20is%20ESF+?%20The%20European%20Social
    • [3]  COM/2024/133, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM%3A2024%3A133%3AFIN
    Last updated: 28 October 2024

    MIL OSI Europe News –

  • MIL-OSI USA: Van Orden Demands Accountability from USDA Following Pure Prairie Poultry Bankruptcy

    Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

    WASHINGTON, D.C. – Congressman Derrick Van Orden (WI-03), along with Reps. Brad Finstad (MN-01) and Randy Feenstra (IA-04), penned a letter to U.S. Department of Agriculture Secretary Tom Vilsack following Pure Prairie Poultry’s bankruptcy that resulted in nearly 50 farmers and more than two million chickens throughout Wisconsin, Minnesota, and Iowa being left without feed or processing options. In the letter, the Members highlight the lack of oversight and accountability by USDA and request answers from the agency on their loan and grant processes, as well as their knowledge of Pure Prairie Poultry’s bankruptcy filing.

    “Many of our poultry farmers in Wisconsin, Minnesota, and Iowa were left in the lurch by the USDA’s absence of oversight and accountability of Pure Prairie Poultry,” said Rep. Van Orden. “The USDA will answer for the $45.6 million in loans and grants given to Pure Prairie Poultry, and PPP will answer for what they did with that money before they stiffed our farmers. I am so thankful for our farmers and how they put the welfare of their flocks first and am proud to advocate for them on the House Agriculture Committee.”

    Joining Reps. Van Orden, Finstad, and Feenstra on the letter are: Senate Agriculture Committee Ranking Member John Boozman (R-AR), Senator Chuck Grassley (R-IA), Senator Joni Ernst (R-IA), House Agriculture Committee Chairman GT Thompson (PA-15), Congresswoman Ashley Hinson (IA-02), and Congresswoman Michelle Fischbach (R-MN).

    To read the full letter, click here or scroll below.

    October 25, 2024

    The Honorable Tom Vilsack

    Secretary

    U.S. Department of Agriculture

    1400 Independence Avenue S.W.

    Washington, DC 20250

    Dear Secretary Vilsack:

    We are writing today with deep concern regarding the U.S. Department of Agriculture’s (USDA) distribution and oversight of grants and loans intended to help meat and poultry processors start or expand processing capacity.

    On September 20, 2024, Pure Prairie Poultry, a Minnesota-based company, filed for Chapter 11 bankruptcy. Consequently, the company’s plant in Charles City, Iowa, ceased operations on October 2. In addition to laying off dozens of employees, this resulted in up to 50 farmers and more than 2 million chickens throughout Minnesota, Iowa, and Wisconsin being left without feed or any processing option.

    In 2022, Pure Prairie Poultry was awarded a guaranteed loan of $38.7 million from USDA Rural Development’s Food Supply Chain Guaranteed Loan Program (FSCGLP) and a grant of $6.9 million from USDA Rural Development’s Meat and Poultry Processing Expansion Program (MPPEP). According to Pure Prairie Poultry’s bankruptcy court filings from the week of September 22, the company reported liabilities between $100 million and $500 million, with $50 million to $100 million in assets. Additionally, the company projected a negative cash flow of $1.8 million per week over the following six weeks. Further, it is our understanding that growers and feed mills affiliated with Pure Prairie Poultry have not been paid for months. Given this fact pattern, we remain deeply concerned about the lack of oversight USDA has provided in this case.

    Over the past two years, USDA has provided $223 million in loan guarantees and grants to 30 meat and poultry processing companies. A press release from the USDA celebrated this funding as part of the Biden-Harris Administration’s “commitment to strengthen critical food supply chain infrastructure to create more thriving communities for the American people.” Unfortunately, the investment in this case instead ended in the loss of income, jobs, and poultry across three states.

    While we share USDA’s desired goals of expanding meat processing capacity and markets and building a robust national food supply chain, it is critical that livestock producers and poultry growers have resilient systems to ensure the production of healthy and affordable protein for both domestic and global consumption. Moreover, American taxpayers deserve the peace of mind that their dollars are being spent wisely. Due to the concerns raised by Pure Prairie Poultry’s bankruptcy and the resulting impacts on farmers and poultry flocks, we respectfully request the Department’s response to the following questions by November 8, 2024:

    1. On what date did the USDA receive notice from Pure Prairie Poultry’s lender regarding the company’s default on its loan obligations and its inability to continue providing feed and processing for birds under its ownership? Additionally, please provide the statutory and/or regulatory requirements that obligate the lender to timely notify the Department of a defaulting entity utilizing the Department’s programs and funds.

    2. What metrics did the USDA utilize to approve Pure Prairie Poultry with over $45 million in taxpayer funds? Please provide details on the scoring criteria and metrics used for MPPEP along with information about the USDA’s approval process for the loan guarantee under the FSCGLP and financial institutions’ ability to service the loans.

    3. What, if any, consideration does USDA give to previous bankruptcy filings when awarding loans and/or grants? Was USDA aware of the previous closures that took place at the location of the Charles City, Iowa processing facility?

    4. Did the USDA have any indications at the time of Pure Prairie Poultry’s approval for both the loan guarantee and grant that the company would face financial peril less than 24 months after the awards were announced? What steps did the USDA take to salvage the plant in Charles City, Iowa?

    5. What steps did the USDA take in the immediate aftermath of the plant closure to assist the relevant stakeholders, including growers and state departments of agriculture, in the care, processing, and depopulation of affected birds? What additional steps does the USDA plan to take to assist affected producers?

    6. What are the USDA’s current oversight mechanisms for grants and loan guarantees to ensure taxpayer dollars are not being wasted? Additionally, what oversight actions were taken by USDA in the case of Pure Prairie Poultry?

    7. What steps will the USDA take moving forward to ensure proper guardrails are in place to prevent similar outcomes for both the current recipients of the FSCGLP and MPPEP loans and grants, as well as similar funding opportunities in the future?

    8. Have any additional lenders notified the USDA of potential defaults within the loan portfolio for the FSCGLP? Is the USDA aware of any other potential cases of default based on its own analysis? Have any prior defaults occurred, not including Pure Prairie Poultry?

    9. Does the USDA maintain a preferred lender list for programs under the Rural Development Mission Areas? If so, please provide a copy.

    10. Is the USDA aware of any other projects financed by the lender(s) of Pure Prairie Poultry through the FSCGLP? If so, please provide details on those projects. Thank you for your prompt attention to this matter.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Welch Joins USDA Rural Development and Vermont Bond Bank to Celebrate Vermont’s First Rural Energy Savings Program (RESP) Loan

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    CHARLOTTE, VT– U.S. Senator Peter Welch (D-Vt.), Chair of the Senate Agriculture Subcommittee on Rural Development and Energy, joined the U.S. Department of Agriculture (USDA) Rural Development, Vermont Bond Bank, and community leaders to celebrate Vermont’s first Rural Energy Savings Program (RESP) loan from the federal government, which will invest $40 million to benefit rural communities and school districts with low-interest, long-term financing for clean energy projects. Senator Welch introduced a bipartisan bill to reauthorize RESP and improve the program to help rural utilities maximize the program’s benefits. The bill was included as part of the Senate’s Farm Bill proposal, the Rural Prosperity and Food Security Act.  
    “I’m thrilled to celebrate the closing of USDA’s first RESP loan to a Vermont institution. This RESP loan to the Vermont Bond Bank will save energy costs, reduce carbon emissions, support good jobs in Vermont, and keep investments local. It’s a win for all of us,” said Senator Welch. “I will continue to work towards ensuring my bipartisan Rural Energy Savings Act will pass as part of the Farm Bill to help more folks access low-interest loans for energy projects.” 
    Senator Welch was joined by Michael Gaughan, Executive Director, Vermont Bond Bank; Sarah Waring, USDA RD State Director for Vermont and New Hampshire; Ted Brady, Vermont League of Cities and Towns; Jim Faulkner, Chair of the Charlotte Select Board and Representatives from the Offices of Senator Bernie Sanders (I-Vt.) and Representative Becca Balint (D-Vt.). 
    “Reducing costs for our municipal and education partners also reduces cost for taxpayers in the long term, so this is a terrific use of federal funds,” said Sarah Waring, USDA RD State Director for Vermont and New Hampshire. “Our agency has been pro-active in implementing the mandates of the Biden-Harris Administration to invest in rural communities to save money and build more efficient infrastructure. We’re proud to work with partners like the Vermont Bond Bank, one of the very first financial institutions in the country to close an RD RESP loan, because we share our mission to support economic opportunity and quality-of-life improvements for our communities.” 
    “The Bond Bank’s RESP loan will be a game changer in reducing energy costs for Vermont’s rural villages, towns, and school districts,” said Bond Bank Executive Director Michael Gaughan. “The resulting flexible and low-cost loans will align incentives for communities to enhance both financial and environmental sustainability while also helping to unlock incentives within the Inflation Reduction Act.” 
    The Rural Energy Savings Program provides no-interest loans to rural utilities, electric cooperatives, and related entities to offer affordable financing for rural households and businesses making energy efficiency, electrification, and renewable energy improvements. Financing is most often used to support air sealing, insulation, new space conditioning systems, and new water heaters.   
    Senator Welch’s bipartisan Rural Energy Savings Act would reauthorize RESP and improve the program by providing limited grant funding to rural utilities to offset administrative and program costs, extending the maximum repayment term for loans to consumers to up to 20 years, and expanding eligibility for all households within a rural utility’s service territory. The bill also codifies the ability of “green banks” to access RESP and codifies manufactured housing as an eligible improvement.  
    Created in 1969 as the nation’s first state bond bank, the Bond Bank helps finance and implement crucial municipal infrastructure at lower costs to communities by providing access to more affordable capital. The Bond Bank does this by overcoming gaps in information, scale, and credit to allow cities, towns, villages, school districts, and other forms of government achieve equitable access to capital. This market specialization also helps with expertise in recognizing emerging needs like flood relief and managing federal requirements for faster and easier access to capital. In addition to facilities and infrastructure lending, the Bond Bank also provides post disaster bridge loans and is the financial administrator of the State of Vermont Clean and Drinking Water State Revolving Loan Funds.  
    USDA Rural Development supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. Visit USDA’s Rural Data Gateway to learn how and where these investments are impacting rural America.  
    View photos from the event below:

    MIL OSI USA News –

  • MIL-OSI USA: Grassley, Finstad Question USDA Grant Oversight amid Pure Prairie Poultry Closure

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Sen. Chuck Grassley (R-Iowa) and Rep. Brad Finstad (R-Minn.) are leading a letter scrutinizing the Department of Agriculture (USDA)’s loan and grant oversight practices after a recent awardee, Pure Prairie Poultry, shut down. Grassley and Finstad serve on the Senate and House Agriculture Committees, respectively.

    “USDA is responsible for keeping tabs on the taxpayer-funded grants it administers, but it clearly dropped the ball with Pure Prairie. Iowans and others across America’s Heartland have lost their jobs and their poultry market as a result of Pure Prairie’s closure. USDA must explain to Congress and the public what went wrong to help prevent a repeat scenario,” Grassley said of the bicameral effort.

    “USDA has provided millions of dollars in taxpayer-funded loans and grants to meat and poultry processors across the country, which is why my colleagues and I are calling on USDA to provide answers,” Finstad added. “While expanding livestock markets and processing capacity is critical for farm country, the lack of oversight of these dollars by USDA harmed producers and caused a significant disruption to our nation’s food supply chain.”

    Minnesota-based Pure Prairie Poultry received over $45 million in USDA funding to help smaller processors start or expand capacity. The company ceased operations earlier this month and shuttered its plant in Charles City, Iowa. As a result, up to 50 farmers in Iowa, Minnesota and Wisconsin were left without processing capacity or feed for more than 2 million chickens, and roughly 100 more Iowans lost their jobs.

    Grassley and Finstad are asking USDA Secretary Tom Vilsack about the agency’s considerations for approving Pure Prairie Poultry’s funding, its insights into the company’s financial standing and the steps it took to assist stakeholders following the Charles City plant closure.

    Additional signatories include Senate Agriculture Committee Ranking Member John Boozman (R-Ark.) and Sen. Joni Ernst (R-Iowa), along with House Agriculture Committee Chairman Glenn Thompson (R-Pa.) and Reps. Ashley Hinson (R-Iowa), Randy Feenstra (R-Iowa), Derrick Van Orden (R-Wis.) and Michelle Fischbach (R-Minn.). 

    Read the full letter HERE. 

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    MIL OSI USA News –

  • MIL-OSI Asia-Pac: India-Spain Joint Statement during the visit of President of Government of Spain to India (October 28-29, 2024)

    Source: Government of India

    Posted On: 28 OCT 2024 6:32PM by PIB Delhi

    At the invitation of the Prime Minister of India, Shri Narendra Modi, President of the Government of Spain, Mr. Pedro Sanchez paid an official visit to India on 28 -29 October, 2024. This was President Sanchez’s first visit to India and the first visit by a President of the Government of Spain to India after 18 years. He was accompanied by the Minister of Transport and Sustainable Mobility and the Minister of Industry and Tourism, and a high-level official and business delegation.

    The two leaders noted that this visit has renewed the bilateral relationship, infusing it with fresh momentum and setting the stage for a new era of enhanced cooperation between the two countries across various sectors. They also expressed satisfaction at the progress of bilateral relations since Prime Minister Modi’s visit to Spain in 2017. Both leaders instructed their teams to continue upgrading the bilateral agenda further and forging cooperation in all dimensions of political, economic, security, defence, people-to-people and cultural cooperation.

    President Sanchez was granted a cultural welcome, and held delegation level talks with Prime Minister Modi at Vadodara.He also visited Mumbai where he interacted with prominent business leaders, cultural figures and representatives of the Indian film industry.

    President Sanchez and Prime Minister Modi jointly inaugurated the Final Assembly Line Plant of C-295 aircraft co-produced by Airbus Spain and Tata Advanced Systems Ltd. at Vadodara. This plant will roll out the first ‘Made in India’ C295 aircraft in 2026, out of a total of 40 aircrafts to be manufactured in India. Airbus Spain is also delivering 16 aircrafts in ‘fly-away’ condition to India, out of which 6have already been delivered to the Indian Air Force.

    Political, Defence, and Security Cooperation

    1. The two leaders reviewed the warm and cordial bilateral ties between the two countries and highlighted that the foundation of the growing partnership lies in the shared commitment to democracy, freedom, rule of law, a fair and equitable global economy, a more sustainable and resilient planet, a rules-based international order and enhanced and reformed multilateralism. They also highlighted the enduring historical ties and long-standing friendship between the two nations as central to this cooperation.

    2. Both leaders emphasised that regular high-level interaction is giving momentum to the partnership. They noted that the ongoing bilateral cooperation between the foreign, economy and commerce and defence ministries is working well, and stressed the importance of holding regular dialogues between the concerned ministries/agencies of the two sides with a view to strengthening and diversifying bilateral cooperation in key areas of defence, security including cyber security, trade and economic issues, culture, tourism, education and people-to-people ties.

    3. Both leaders expressed satisfaction on the progress made in the C-295 aircraft project as a symbol of the growing defence industrial cooperation between the two countries. In line with this growing partnership, and in recognition of the advanced capabilities and competitiveness of the Spanish defence industry and its contribution to the goals of the ‘Make in India’ initiative, they encouraged their respective defence industries in other sectors to set up similar joint projects in India.

    Economic and Commercial Cooperation

    4. President Sanchez and Prime Minister Modi welcomed the recent positive developments in bilateral trade and investment partnership, buoyed by the positive economic outlook in both countries and called for stronger ties between the businesses of the two countries.

    5. Prime Minister Modi congratulated President Sanchez on the growth and the resilience of the Spanish economy. President Sanchez complimented Prime Minister Modi on India’s fast economic growth and lauded the various government initiatives to promote a business-friendly environment. President Sanchez highlighted Spain’s commitment to the ‘Make in India’ initiative through the activities of about 230 Spanish companies present in India. Both leaders reiterated their strong support for an open rules-based multilateral trading system, and a business-friendly investment scenario in both countries.

    6. Recognizing the expertise of Spanish companies in areas such as energy, including renewables, nuclear, and smart grids, food processing, healthcare and health services, automotive and transport infrastructure, including trains, roads, ports and transport network management, the two leaders welcomed further collaboration in these areas. President Sanchez welcomed the positive contributions being made by Indian companies to the Spanish economy in fields such as information technology, pharmaceuticals and automobile and auto components. Both leaders welcomed the establishment of a ‘Fast Track Mechanism’ to facilitate mutual investments in India and Spain.

    7. The two leaders took note of the progress made by the 12th session of the India-Spain ‘Joint Commission for Economic Cooperation’ (JCEC) held in 2023 and agreed to convene the next session of the JCEC in Spain in early 2025. In this context, they also agreed on the importance of deepening economic ties and exploring strategic cooperation in key sectors such as renewable energy, technology, and sustainable infrastructure. The two leaders looked forward to an early conclusion of Memorandum of Understanding on Urban Sustainable Development.

    8. Both leaders welcomed the Second meeting of the India-Spain CEOs Forum as well as India-Spain Business Summit in Mumbai on October 29, 2024,to promote trade and investment cooperation between the two countries.

    9. Both leaders recognized the vital importance of innovation and the startup ecosystems in driving forward the bilateral partnership and called for all such opportunities to be explored in mutual interest. They encouraged relevant agencies of both countries to work to deepen any such exchanges in the future, including through frameworks such as Rising Up in Spain and the Startup India initiative.

    10. The two leaders expressed satisfaction at the signing of a Memorandum of Understanding on cooperation in the field of rail transport and the agreement of cooperation and mutual assistance in customs matter.

    11. The leaders acknowledged the role of tourism in driving economic and business opportunities and enhancing understanding between the people of both countries and agreed that it should be further promoted. Both leaders welcomed the interest shown by airlines to establish direct flights between Spain and India.

    The Year 2026 as India-Spain Year of Culture, Tourism and AI

    12. Taking into account the deep relationship between India and Spain and the long lasting friendship between the two peoples, Prime Minister Modi, and President Pedro Sanchez, have agreed to make 2026 as the Year of India and Spain in Culture, Tourism and Artificial Intelligence (AI).

    13. During the year, both sides will make the maximum effort to boost the cultural presence of the other in their museums, art, fairs, film, festivals, literature, meetings of architects and circles of debate and thought.

    14. Likewise, special attention will be paid to ways of increasing tourist flows, promote reciprocal investments and share experiences in the many areas of hospitality, architecture, cuisine, marketing, both in urban and rural tourism, which benefits harmonious development and improvement for both countries.

    15. In accordance with the G20 New Delhi Leaders Declaration, India and Spain can play a very important role for the use of AI for good and its positive implementation in many fields. Both countries commit to hold during the year, events to foster positive use of AI and will work for the practical implementation of new advances in the field of AI in the productive economy.

    16. To mark the importance of this initiative, both leaders directed the concerned stakeholders to celebrate the year in the respective countries in the most befitting manner.

    Cultural and People-to-People Ties

    17. The two leaders acknowledged the role of cultural ties in bringing nations closer and lauded the rich and diverse cultural heritage of India and Spain. They appreciated the long-standing cultural exchanges and enrichment between India and Spain, particularly the role of Spanish Indologists and Indian Hispanists. They welcomed the signing of a Cultural Exchange Program to promote bilateral exchanges in music, dance, theatre, literature, museums and festivals.

    18.The two leaders applauded the growing interest in the study of the cultures and languages of both countries. Spanish is among popular foreign languages in India. They stressed the mutual interest in further strengthening India – Spain cultural cooperation and the reinforcement of cooperation among cultural institutions of both countries such as Instituto Cervantes in New Delhi and Casa de la India in Valladolid.

    19. The two leaders welcomed the establishment of the ICCR Chairs on Hindi and on Indian Studies at the University of Valladolid. India is bringing transformational changes in education sector in India under National Education Policy (NEP) 2020. In this context, Prime Minister Modi encouraged leading Spanish universities to strengthen academic and research partnership with Indian institutions; build institutional linkages through joint/dual degree and twinning arrangements and explore the possibility of setting up branch campuses in India.

    20. President Sanchez is also giving the keynote address at the 4th Spain-India Forum, co-organized by Spain-India Council Foundation and Observer Research Foundation, in Mumbai. The leaders recognized the valuable contributions of this institution, which has a complementary role to that of governments in strengthening the links between Indian and Spanish civil societies, companies, think tanks, administrations and universities, helping to enhance bilateral ties by fostering a strong partnership between their members and its activities and bringing the two countries together in order to increase their mutual knowledge.

    21. The two leaders welcomed the installation at Valladolid of the bust of Gurudev Rabindranath Tagore gifted to the people of Spain by ICCR and the placing of the translated works of Tagore in the vaults of Instituto Cervantes in Madrid which is a testament to increasing cultural connect between peoples of the two countries.

    22. The two sides noted with satisfaction the growing cooperation in the field of film and audio-visuals, with India being the Guest Country at the SEMINCI International Film Festival in 2023, and the award of the IFFI Satyajit Ray Lifetime Achievement to the legendary Spanish director Carlos Saura. Acknowledging the large film and audio-visual industries in India and Spain, both leaders agreed that the scope of collaboration between the two countries under the Audio-Visual Co-Production Agreement can be enhanced and welcomed the creation of a Joint Commission to improve cooperation between the two countries in the audiovisual field and promote and facilitate the co-production of films.

    23. To enhance people-to-people ties and consular services in two countries, the two leaders welcome the operationalisation of India’s first Consulate General in Spain at Barcelona and the decision to open Spain’s Consulate General in Bengaluru.

    EU and India relations

    24. Prime Minister Modi and President Sanchez reaffirmed their commitment to strengthening the India-EU Strategic Partnership and to advancing the EU-India triple negotiations of comprehensive Free Trade Agreement, Investment Protection Agreement and Geographical Indications Agreement.

    25. They agreed to enhance their collaboration to fully realize the objectives of the EU-India Connectivity Partnership, and recognized the potential of the India-Middle East-Europe Economic Corridor Project (IMEEC) to boost connectivity between India and Europe. They explored avenues for cooperation among regional countries in areas such as trade, investment, technology, energy, logistics, ports, and infrastructure development.

    Global Issues

    26. The leaders expressed their deepest concern over the war in Ukraine and reiterated the need for a comprehensive, just and lasting peace in line with international law, and consistent with the purposes and principles of the UN Charter, including respect for sovereignty and territorial integrity. They underlined the importance of dialogue and diplomacy as well as earnest engagement between all stakeholders to achieve a sustainable and peaceful resolution of the conflict. Both sides agreed to remain in touch to support efforts aimed at negotiated settlement of the conflict.

    27.They shared their firm commitment to achieving peace and stability in the Middle East, and expressed their deep concern at the escalation of security situation in West Asia and called for restraint by all concerned. They urged that all issues be addressed through dialogue and diplomacy. The two leaders unequivocally condemned the terror attacks on Israel on October 7, 2023, and agreed that the large-scale loss of civilian lives and the humanitarian crisis in Gaza is unacceptable and must end as soon as possible. They called for the immediaterelease of all hostages, immediate ceasefire and safe, sustained entry of humanitarian aid into Gaza. They emphasized the urgent need to protect the lives of civilians and urged all parties to comply with international law. They reiterated their commitment to the implementation of the two State solution,leading to the establishment of a sovereign, viable and independent state of Palestine, living within secure and mutually recognized borders, side by side in peace and security with Israel as well as their support for Palestine membership at the United Nations.

    28. Both sides reiterated their concern on escalation and violence in Lebanon, and the security situation along the Blue Line and reaffirmed their commitment to the full implementation of UNSC Resolution 1701. As major troop contributing countries, they condemned the attacks on UNIFIL and highlighted that the safety and security of peacekeepers are of paramount importance and must be ensured by all. Inviolability of UN premises and the sanctity of their mandate must be respected by all.

    29. Both sides emphasized the promotion of a free, open, inclusive, peaceful, and prosperous Indo-Pacific, anchored in a rules-based international order, mutual respect for sovereignty, and the peaceful resolution of disputes, supported by effective regional institutions. They highlighted the importance of unimpeded commerce and freedom of navigation, in compliance with international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS) 1982. Both sides acknowledged India’s invitation to Spain to participate in the Indo-Pacific Oceans Initiative (IPOI) for collaborative efforts aimed at the management, conservation, sustainability, security, and development of the maritime domain in the Indo-Pacific. They also recognized the complementarity between India’s Indo-Pacific Vision and the EU Strategy for Cooperation in the Indo-Pacific.

    30. Noting the growing political and commercial relations between India and Latin American region and the historical, economic and cultural links it shares with Spain, both leaders recognized the immense potential of triangular cooperation for investments and development in the region. Spain welcomed India’s application to join the Ibero-American Conference as an Associate Observer, which will offer a platform to strengthen the ties with Latin American countries. Both sides committed to finalise the process by the Ibero-American Summit, to be held in Spain in 2026, so that India may actively participate in the activities of Spain´s Pro Tempore Secretariat.

    International and Multilateral Cooperation

    31. Both leaders agreed to enhance cooperation and coordination within the United Nations, including the UN Security Council (UNSC), and other multilateral forums. They emphasized the importance of a rules-based international order for ensuring global peace and development. Both sides committed to advancing multilateralism that reflects present-day realities, making international organizations, including the UNSC, more representative, effective, democratic, accountable and transparent. India expressed its support for Spain’s UNSC candidature for the term 2031-32, while Spain expressed its support for India’s candidature for the period 2028-29.

    32. Both leaders look forward to the Fourth International Conference on Financing for Development to take place in 2025 in Sevilla (Spain) as a critical opportunity to identify priority actions to help close the resource gap needed to implement the Sustainable Development Goals.

    33. President Sanchez congratulated Prime Minister Modi on the exemplary chairmanship of G20, which successfully and inclusively addressed important and complex Global South issues. Prime Minister Modi appreciated the valuable contributions made by Spain to the discussions as a Permanent Invitee to the G20.

    34. The two leaders agreed to strengthen cooperation in promoting sustainable energy and adapting to climate change. They recognize the urgency of accelerating global actions to combat climate change and commit to collaborating in the context of the upcoming Climate Summit in Baku (COP29) to achieve an ambitious outcome including on a New Collective Quantified Goal on Climate Finance that helps achieve the temperature goal of Paris Agreement. They also highlighted the need topromote actions to strengthen countries’ resilience and adaptation capacities in the face of the increasing impacts of climate change worldwide. The two leaders looked forward to the early conclusion of Memorandum of Understanding in the field of Renewable Energy. Prime Minister Modi appreciated Spain’s commitment towards a green transition and welcomed Spain to the International Solar Alliance. President Sanchez appreciated advances made by India in achieving the renewable energy goals much ahead of the target year. Both leaders also agreed that a concerted global effort would be needed in order to address climate change concerns. Both sides will respond positively to the outcomes of COP28, including the first Global Stocktake in light of national circumstances.

    35. Spain has invited India to join IDRA, the International Drought Resilience Alliance, which was launched in 2022, a platform to promote concrete actions to reduce the vulnerability of countries, cities and communities to drought through preparedness and adaptation measures.

    36.Both leaders unequivocally condemned terrorism and violent extremism in all its forms and manifestations, including the use of terrorist proxies and cross-border terrorism. Both sides agreed that terrorism remains a serious threat to international peace and stability, and called for bringing the perpetrators of all terrorist attacks to justice without delay. They urged all countries to take immediate, sustained and irreversible action to prevent territory under their control from being used for terrorist purposes, and stressed the need for firm implementation of relevant resolutions of the UN Security Council, as well as the implementation of the UN Global Counter-Terrorism Strategy. They also called for concerted action against all terrorist groups proscribed by the UNSC including Al Qa’ida, ISIS/Daesh, Lashkar-e-Tayyiba (LeT), Jaish-e-Mohammad (JeM) and their proxy groups. Prime Minister Modi appreciated Spain’s multilateral initiatives in support of the Victims of Terrorism and their empowerment.

    37. President Sanchez thanked Prime Minister Modi for the warm reception and hospitality extended to him and his delegation during the visit, and invited him to undertake a visit to Spain in the near future.

     

    ***

    MJPS/SR

    (Release ID: 2068963) Visitor Counter : 44

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Dr. Jitendra Singh Inaugurates new complex of India’s first Biomanufacturing Institute “BRIC-National Agri-Food Bio-Manufacturing Institute” at Mohali;

    Source: Government of India

    Union Minister Dr. Jitendra Singh Inaugurates new complex of India’s first Biomanufacturing Institute “BRIC-National Agri-Food Bio-Manufacturing Institute” at Mohali;

    Emphasizes Science-Driven Growth for “Viksit Bharat”

    Transformation from traditional manufacturing to synthetic production through sustainable, eco-friendly solutions that rely on modern, cost-effective technology;

    From “Fragile Five” to “First Five”: Minister Attributes India’s Economic Rise to Science-Driven Strategy

    BioNest Incubation Centre Launched to Boost Industry Collaboration and Nurture Startups

    Dr. Jitendra Singh Announces Biomanufacturing Workshop to Explore Sustainable Innovations Across Key Sectors

    Posted On: 28 OCT 2024 6:30PM by PIB Delhi

    Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, PMO, Atomic Energy, Space, and Personnel, Public Grievances and Pensions today inaugurated the new complex of India’s first Biomanufacturing Institute, “BRIC-National Agri-Food Bio-Manufacturing Institute” (BRIC-NABI) aimed at enhancing India’s agri-food sector through advanced biotechnology.

    Addressing the assembly of scientists, industry leaders, and stakeholders,the Minister emphasized the government’s dedication to fostering innovation in agriculture, creating job opportunities, and promoting environmental sustainability—essential elements in achieving Prime Minister Narendra Modi’s vision of “Viksit Bharat.”

    During the inauguration, Dr. Jitendra Singh underscored the Modi government’s robust prioritization of science and technology, referencing recent landmark decisions such as the newly launched BioE3 policy. This initiative, which stands for biotechnology in the service of the economy, employment, and the environment, exemplifies the administration’s focus on fostering a high-impact science sector. “Biotechnology and synthetic production will not only transform agriculture but redefine India’s role in global scientific advancements,” stated the Minister.

    In his address, Dr. Jitendra Singh noted that India is among the first nations to implement an exclusive biotechnology policy. This shift, he emphasized, will propel a significant transformation from traditional manufacturing to synthetic production through sustainable, eco-friendly solutions that rely on modern, cost-effective technology. The Minister lauded India’s rapid rise from “fragile five” to “first five” in global economic standing, crediting this progress to the government’s science-focused strategy.
     

    The BRIC-National Agri-Food Biomanufacturing Institute (BRIC-NABI), formed through the strategic merger of NABI and CIAB, is poised to transform India’s agricultural landscape by uniting biotechnology and bioprocessing expertise. This newly established entity aims to streamline the journey from research to commercialization, facilitating pilot-scale production and delivering innovative agri-tech solutions to the market.

     

    Dr. Jitendra Singh highlighted that this consolidation would drive efficiency in agricultural R&D, paving the way for high-yield, disease-resistant crops, biofertilizers, and biopesticides. These advancements not only align with the government’s ambition to double farmers’ incomes but also promote sustainable, eco-friendly practices, creating new income avenues for farmers and supporting broader environmental objectives.

     

    A significant highlight was the establishment of the BioNest Incubation Centre, designed as a collaborative hub for industry partnerships, innovation, and public-private initiatives to nurture startups. The BioNEST BRIC-NABI Incubation Center aims to empower local youth, women, and farmers by supporting startups in agriculture, food, and bioprocessing, bridging research with industry for faster commercialization of agri-food innovations.

    Through joint efforts with both public and private sectors, the Minister said, BioNEST strives to drive inclusive economic growth, aligning with the “Make in India” vision and advancing India’s journey toward self-reliance. Dr. Jitendra Singh emphasized the need for active private sector involvement, noting that investment in such incubators can unlock market potential and provide sustainable employment for India’s young workforce.

    In line with its mission to advance biomanufacturing, Dr. Jitendra Singh announced the Biomanufacturing Workshop 1.0, set to take place in December 2024. This pioneering workshop will delve into biomanufacturing’s applications across agriculture, food, pharmaceuticals, and energy, offering insights into cutting-edge techniques that harness biological systems for sustainable production.

    Aimed at researchers and industry professionals, this event supports the government’s BioE3 policy and reflects India’s commitment to eco-friendly, innovation-driven industrial growth, the Minister noted.

    Dr Jitendra Singh also addressed the brain drain of Indian scientists, encouraging young talent to pursue research and entrepreneurship within India, emphasizing the country’s competitive resources and a growing scientific ecosystem that rivals global institutions. This national focus on developing indigenous expertise, he believes, will strengthen India’s global influence in science and innovation.

    The establishment of the BRIC-National Agri-Food Bio-Manufacturing Institute marks a pivotal step in India’s journey toward an integrated, science-powered economy, aligned with the Modi government’s ambitious development goals. Through initiatives like BioE3 and BioNest, India positions itself not only as a knowledge leader but as a dynamic incubator of innovation that is ready to contribute to sustainable growth worldwide. Dr. Jitendra Singh’s message was clear: the advancement of India’s agri-food sector will be pivotal to building a resilient, forward-thinking nation.

    *****

    NKR/KS/AG

    (Release ID: 2068961) Visitor Counter : 27

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: DDWS Hosts the National Visioning Workshop for WASH, Engages States/UTs Across Rural India

    Source: Government of India (2)

    DDWS Hosts the National Visioning Workshop for WASH, Engages States/UTs Across Rural India

    Unveiling of ‘Drinking Waterscape, Rural India – October 2024’

    Posted On: 28 OCT 2024 6:18PM by PIB Delhi

     

     (Group photo of participants of the National Visioning Workshop for WASH held in Delhi on October 28, 2024)

     

    The Department of Drinking Water and Sanitation (DDWS) today organized a transformative workshop at Bharat Mandapam, New Delhi for the National Visioning Workshop on Water, Sanitation, and Hygiene (WASH). This workshop, marking a pivotal moment in a decade of Swachh Bharat Mission – Grameen (SBMG) and five years of Jal Jeevan Mission (JJM), assessed achievements and forged plans for sustainable community engagement.

    The event saw participation from key dignitaries and senior officials, including Smt. Vini Mahajan, Secretary, DDWS; Shri Ashok K.K. Meena, Officer on Special Duty (OSD), DDWS; Dr. Chandra Bhushan Kumar, Additional Secretary & Mission Director, NJJM; Smt. Richa Misra, Joint Secretary & Financial Advisor, DDWS; Shri Jitendra Shrivastava, Mission Director & Joint Secretary, SMBG; and Smt. Swati Meena Naik, Joint Secretary, NJJM. Officials from various states and Union Territories, including Secretaries, Mission Directors, Engineer-in-Chiefs actively participated in the workshop, emphasizing their commitment to advancing WASH goals across the country.

    The dual goals of the workshop were to assess progress and refine strategies for the future, with a focus on effective and sustainable community engagement. The assembly also expressed gratitude to Smt. Vini Mahajan. Officials acknowledged her pivotal role in shaping India’s WASH landscape and the seamless alignment of SBM and JJM with national development goals.

     

     

     (Left to right: Shri K. S. Ngangbam, Director (SBM-V); Shri Jitendra Shrivastava, Mission Director & Joint Secretary; SMBG, Shri Ashok K.K. Meena, Officer on Special Duty (OSD); DDWS, Smt. Vini Mahajan, Secretary, DDWS; Dr. Chandra Bhushan Kumar, Additional Secretary & Mission Director, NJJM; Smt. Richa Misra, Joint Secretary & Financial Advisor, DDWS; Smt. Swati Meena Naik, Joint Secretary, NJJM )

    Smt. Vini Mahajan reflected on the progress and challenges faced by JJM and SBM. Acknowledging the need for extension in both time and funding, she advocated for rigorous community engagement and accountability to ensure WASH initiatives resonate deeply with rural citizens. Smt. Mahajan called on state leaders to strengthen local outreach through Information, Education, and Communication (IEC) and Behavior Change Communication (BCC) to secure ownership and sustainability of WASH facilities among communities.

    Reflecting on the tangible successes of SBM and JJM, Sh. Ashok Meena emphasized the importance of a community-centered approach for sustainable impact. He expressed optimism about the continued evolution of WASH efforts under the stewardship of Secretary Mahajan, highlighting ongoing initiatives like ODF Plus Model Villages and calling for fresh, people-centric solutions under SBM-G 3.0.

    Dr. Chandra Bhushan Kumar underscored the achievements of SBM and JJM, celebrating the programs’ substantial impact over the past decade. He introduced a pilot initiative in collaboration with NITI Aayog to implement WASH solutions in select aspirational districts. State representatives were encouraged to share insights that could further enhance the effectiveness of these programs. Dr. Kumar gave an insightful presentation on ‘JJM: Functionality, IEC, Future’, highlighting the significant expansion of piped water supply across rural India, facilitated by JJM’s shift from a habitation-based to a household-based approach. He emphasized the role of IEC and BCC for the effectiveness of the mission in the rural landscape. He further applauded states like Gujarat and Manipur for their exemplary progress, while stressing the importance of robust financial planning for the upcoming 16th Grants Commission.

    Sh. Jitendra Srivastava emphasized the importance of collaboration and convergence across departments to drive WASH progress. He noted the strides made under Smt. Mahajan’s leadership, expressing hope that camaraderie and convergence among MDs and Secretaries would continue to strengthen WASH outcomes. Reporting on the status of SBM-G, Sh. Srivastava cited the substantial increase in ODF Plus Model Villages and advancements in Faecal Sludge Management (FSM) and plastic waste management. He encouraged states to adopt innovative revenue models for sustainable waste management and increase the usage of SBM funds to enhance toilet access and utilization across rural areas.

    The workshop witnessed the launch of “Drinking Waterscape in Rural India – Jal Jeevan Mission,” a comprehensive resource documenting JJM’s contributions to the rural water supply landscape.

    The workshop concluded with a call to action for state representatives to leverage community leadership and prioritize maintenance of WASH assets. With renewed dedication to sustainable solutions, the Ministry reaffirmed its commitment to achieving universal access to safe water and sanitation for all by 2027. The assembly was further encouraged by the anticipated appointment of Sh. Ashok K.K. Meena as the next Secretary, with hopes that his leadership will elevate the WASH sector to new heights.

    ****

    DSK

    (Release ID: 2068952) Visitor Counter : 11

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governor Murphy Announces Promotion of CeCe Doherty to Director of Intergovernmental Affairs

    Source: US State of New Jersey

    Kate Barry Named Aide to the Governor, Intergovernmental Affairs

     

    TRENTON – Governor Phil Murphy today announced one new promotion and one new hire within his department of Intergovernmental Affairs. CeCe Doherty will serve in her newly promoted role as the Director of Intergovernmental Affairs, with Kate Barry joining the office as an Aide to the Governor. The Intergovernmental Affairs team will continue to be led by Deputy Chief of Staff Rob Field.

    “CeCe has been an incredible asset to the Governor’s Office over the last two years and I look forward to seeing all that she accomplishes as the Director of our Intergovernmental Affairs team,” said Governor Murphy. “CeCe’s impressive professional background and her meticulous knowledge of New Jersey’s southern counties will continue to serve our Intergovernmental Affairs team well. I am also thrilled to welcome Kate Barry to the Governor’s Office, and I am confident that under Rob Field’s leadership, this team will continue to succeed and advance the goals of our Administration.”

    “Since joining the Governor’s Office in 2022, CeCe has been an invaluable member of our team. She has excelled in outreach to elected officials and communities across South Jersey while demonstrating strong leadership abilities and clear communication skills vital for the role of Director,” said Deputy Chief of Staff Rob Field. “We are also excited to have Kate Barry join our team. Her strong experience in Morris and Somerset Counties will be a huge benefit for the northwest region of New Jersey, and I’m looking forward to working with CeCe, Kate, and the rest of the Intergovernmental Affairs team to continue to fulfill the Governor’s vision to make our state stronger and fairer.”

    Prior to her promotion, CeCe Doherty held the title of Senior Aide. She has served Governor Phil Murphy in the Department of Intergovernmental Affairs since 2022, working directly with elected officials in the southernmost counties of the state. Previously, she worked for the US House of Representatives, the Democratic Congressional Campaign Committee, numerous campaign finance roles, as well as fundraising and event coordination for various nonprofits in the state. After graduating from Brigham Young University in 2015, CeCe began her career as an admin for Egg Harbor Township, where she was raised, kickstarting her advocacy and support for constituents of Southern New Jersey. She currently resides in Sicklerville, NJ with her husband Scott and German Shepherd Max. In addition to being Director, CeCe will continue to be the main point of contact in the Governor’s Office for the following counties: Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Salem. 

    Kate Barry recently joined the Governor’s Office Intergovernmental Affairs team as an Aide to the Governor in July of 2024. She graduated with a master’s degree in Environment and Sustainable Development from University College London and worked with environmental non-profits and an economic and development firm before starting her own animal care business in Morris County. Prior to joining the Governor’s Office, she served as the Constituent Aide to the Somerset County Commissioners. Kate is a proud board member of the Great Swamp Watershed Association and her hometown’s Environmental Commission. She resides in northern New Jersey with her family and her beloved horse and donkey. Kate’s portfolio for the Governor’s Office will include outreach to Hunterdon, Sussex, and Warren Counties.

    For a photo of CeCe Doherty, click here.

    For a photo of Kate Barry, click here.

    MIL OSI USA News –

  • MIL-OSI USA: Welch Joins King, Rounds and Bipartisan Colleagues in Pushing for Maximum H2-B Visas to Support Small Businesses in 2025

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    H-2B visas help employers fill temporary, seasonal positions in Vermont
    BURLINGTON, VT – U.S. Senator Peter Welch (D-Vt.) joined Senators Angus King (I-Maine), Mike Rounds (R-S.D.) and a bipartisan group of colleagues in asking the Department of Labor (DOL) and the Department of Homeland Security (DHS) to release the maximum allowable number of additional H-2B visas for Fiscal Year (FY) 2025. 
    H-2B visas help American small businesses when there are not enough American workers to fill the temporary, seasonal positions. As required by law, employers must first make a concerted effort to hire American workers to fill open positions; when the local workforce is insufficient, H-2Bs are seen as a necessary tool to support local economies. With Vermont continuing to see a shortage of seasonal and temporary employees, these special visas provide a lifeline for the economy and ensure small businesses can meet the demand for their products and services.  
    “Many employers turn to the H-2B program to meet their workforce needs to not only sustain their businesses, but also support their American workers. The H-2B program places requirements on employers to recruit U.S. workers, who are intentionally prioritized by the program and also receive demonstrated, positive impacts from their seasonal colleagues. In fact, a 2020 Government Accountability Office report concluded that ‘counties with H-2B employers generally had lower unemployment rates and higher average weekly wages than counties that do not have any H-2B employers,’” wrote the senators. 
    “The most current employment data illustrates the workforce struggles of seasonal businesses nationwide. The Department of Labor’s Job Openings and Labor Turnover Surveys (JOLTS) show the rate of job openings have increased year over year for the industries that represent the top five H-2B occupations. As you know, the FY 2025 H-2B first half fiscal year cap was met on September 18, 2024—roughly three weeks earlier than the cap was met in FY 2024. The result is that seasonal employers whose peak seasons are in late fall and winter are capped out before their period of seasonal need begins. Absent cap relief, these employers will be unable to receive temporary, U.S. government-vetted guest workers,” continued the senators. 
    The letter was also signed by John Barrasso (R-WY), Michael Bennet (D-CO), Maria Cantwell (D-WA), Ben Cardin (D-MD), Tom Carper (D-DE), Susan Collins (R-ME), Chris Coons (D-DE), John Cornyn (R-TX), Kevin Cramer (R-ND), Mike Crapo (R-ID), John Fetterman (D-PA), Lindsey Graham (R-SC), Maggie Hassan (D-NH), George Helmy (D-NJ), John Hickenlooper (D-CO), Cindy Hyde-Smith (R-MS), Tim Kaine (D-VA), Amy Klobuchar (D-MN), Cynthia Lummis (R-WY), Joe Manchin (I-W. Va.), Jerry Moran (R-KS), Lisa Murkowski (R-AK), Pete Ricketts (R-NE), Jim Risch (R-ID), Jeanne Shaheen (D-NH), Tina Smith (D-MN), Dan Sullivan (R-AK), John Thune (R-SD), Thom Tillis (R-NC), Chris Van Hollen (D-MD), Mark Warner (D-VA), Raphael Warnock (D-GA), Sheldon Whitehouse (D-RI), Roger Wicker (R-MS), Ron Wyden (D-OR), Kyrsten Sinema (I-AZ) and Tim Scott (R-SC). 
    The full text of the letter is available here. 

    MIL OSI USA News –

  • MIL-OSI Russia: Introductory Remarks at the IMF’s African Department Press Briefing

    Source: IMF – News in Russian

    By Abebe Selassie, Director
    Annual Meetings, October 2024

    October 25, 2024

    As Prepared for Delivery

    Good morning, or good afternoon to those of you joining us online from Africa and beyond. Thank you for joining us today for the release of the October IMF Regional Economic Outlook for sub-Saharan Africa.

    Before we begin and take your questions, I would like to share some thoughts on the current economic developments in the region. 

    The first point I would like to make is that economic growth in sub-Saharan Africa remains subdued, especially in per capita terms.

    We are projecting growth of 3.6 percent this year, the same as last year, with some signs of a pickup to 4.2 percent next year. This pace is not sufficient to significantly reduce poverty or to recover ground lost in recent years, let alone address the substantial developmental challenges ahead. It is also still far from the 6-7 percent growth rates the region enjoyed until about a decade ago.

    But as always, it is important to highlight the considerable differences across countries in the region. Despite lackluster average growth, nine of the world’s 20 fastest-growing economies are in sub-Saharan Africa—and those with more diversified economic structures are the ones doing better. These countries continue to experience strong growth. In contrast, in many resource intensive countries, growth is very anemic and poverty is rising sharply.

    The second point I want to make is that we are seeing some improvement in macroeconomic imbalances. Inflation continues to decline, and budget deficits have begun to narrow, reverting to pre-crisis levels. Debt-to-GDP ratios are also stabilizing albeit at a high level, which are positive signs for the region’s economic health.

    However, a third point I would like to stress is the challenging political and social backdrop against which governments are implementing much-needed reforms. The cost-of-living crisis, particularly due to higher food prices, has been more acute in our region. And this has intensified the strain on households who spend a larger share of household expenses on food. Governments are making fiscal adjustments by increasing revenue and compressing spending. But elevated interest burdens continue to strain public finances and they add to the sense that government services are not improving or even deteriorating.

    Against this backdrop, our report discusses the tough balancing act that policymakers face:

    • Pursing macroeconomic stability;
    • while meeting development needs, including strengthening social safety nets to protect the most vulnerable;
    • and designing reforms that are socially and politically acceptable.

    This latter point—making reforms acceptable—requires effective communication and consultation, improved governance to rebuild public trust, and measures that help promote inclusive growth through job creation.

    I would also like to highlight the intensified engagement of the Fund in the region. Our involvement is at one of the highest levels in recent history, with numerous ongoing programs and financial arrangements. Since 2020, the Fund has made available over $60 billion in financing for the region.

    However, declining official development assistance is challenging the effectiveness of our support. While countries like Benin, Côte d’Ivoire, Kenya, Senegal, and Cameroon have returned to markets this year, access for many other countries remains limited, and financing conditions remain costly and difficult. This forces countries to make significant adjustments with limited external financing.

    Much work remains to be done to reinvigorate reforms and tap into the region’s tremendous potential. We delve into these topics in our upcoming Regional Economic Outlook, where we discuss policy considerations for calibrating strategies amid diverse circumstances and constrained financing.

    Thank you for your attention. I am now happy to take your questions.

    https://www.imf.org/en/News/Articles/2024/10/25/sp102524-subsaharan-africa-press-briefing-abebe-selassie

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: Arrington Fights for Economic Assistance for WTX Farmers in Congressional Disaster Relief Bill

    Source: United States House of Representatives – Congressman Jodey Arrington (TX-19)

    Lubbock, Texas – With Congress expected to consider additional disaster relief funding when it returns, House Budget Chairman Jodey Arrington (TX-19) urged Speaker Mike Johnson to include economic assistance for West Texas farmers who have suffered from record droughts, skyrocketing input costs, and rock-bottom commodity prices.

    Congressman Arrington has been a champion for farmers, ranchers, and Rural America. Arrington:

    • Got cotton back into Title I of the Farm Bill;
    • Delivered trade assistance like the Market Facilitation Program (MFP); 
    • Provided emergency relief through the Wildfires and Hurricanes Indemnity Program (WHIP) and Emergency Relief Program (ERP);
    • Fought to protect the exemptions in the death tax;
    • Passed a 20% tax deduction for family farmers; 
    • Worked to repeal overreach regulations like Waters of the U.S. (WOTUS); 
    • Improved market access in trade deals such as USMCA; and 
    • Secured important rural infrastructure like the I-27 Ports-to-Plain corridor. 

    View the letter here. 

    Full text of the letter is as follows: 

    Dear Speaker Johnson,

    I write today to urge the importance of including much-needed emergency assistance for farmers and ranchers across Rural America in any broader disaster relief package. 

    In addition to the devastation caused to our fellow Americans during this recent hurricane season, farming and ranching families in Rural America have experienced consecutive years of record droughts, soaring inflation, and unsustainable commodity prices that threaten the food security of our nation despite the best efforts of many of our farmers and ranchers. As a result, U.S. net farm income is projected to fall 23% this year compared to 2022, and the production agriculture infrastructure is in serious jeopardy without emergency assistance to mitigate consecutive years of bad weather and unreliable farm policy. For example, cotton producers across America are projected to average a loss of over $300 per acre this year.

    Reliance on an obsolete Farm Bill has only exacerbated this dire situation, as producers face a lack of certainty and outdated support. The programs designed to mitigate price volatility and weather risks have not been updated since 2018. As a result, there is effectively no safety net to stabilize the agricultural economy, provide critical support to producers, and prevent large-scale adverse economic impacts to Rural America.

    Food security is national security, and the people who supply and produce it are struggling under circumstances largely outside of their control. Therefore, as we consider comprehensive disaster assistance for our fellow Americans in hurricane ravaged regions, it is critical to consider appropriate disaster relief for farm communities in Rural America. Such emergency relief should be equitably and responsibly distributed to farmers and ranchers who have incurred significant losses throughout the year. Additionally, the disbursement of these payments must be expedited, so farmers and ranchers can get the support they need as soon as possible to plan for higher yields in 2025.

    As we provide disaster assistance to our farmers and fellow Americans, we must do so responsibly considering the financial burden to current and future taxpayers as well as the fragile and unsustainable fiscal condition of our nation. As Chairman of the House Budget Committee, I am committed to continuing to work with you to provide this much-needed support while stewarding America’s resources in the most cost-effective manner.

    MIL OSI USA News –

  • MIL-OSI USA: Edgard Disaster Recovery Center to Become SBA Disaster Loan Outreach Center

    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. – The State/Federal Disaster Recovery Center in Edgard will convert to a U.S. Small Business Administration’s Disaster Loan Outreach Center on Monday, Oct. 28. The center will continue to operate at the Westbank Library from 8:30 a.m. to 5:00 p.m. Mondays through Fridays.

    “At this stage of the recovery process, the emphasis for assistance is to meet the long-term needs of businesses and individuals that were impacted by Hurricane Francine that occurred Sept. 9-12,” said Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “The transition of the Edgard Disaster Recovery Center to an SBA Disaster Loan Outreach Center will better meet the current needs of St. John the Baptist Parish residents.

    “When disasters strike, our Disaster Loan Outreach Centers are key to helping business owners and residents get back on their feet,” Sánchez continued. “At these 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 customer service representatives will continue to answer questions, explain the application process and help businesses and individuals apply for a low-interest disaster loan,” Sánchez added. The Disaster Loan Outreach Center will be open on the days and times indicated. No appointment is necessary.

    ST. JOHN THE BAPTIST PARISH
    Disaster Loan Outreach Center
    Westbank Library
    2979 Hwy. 18
    Edgard, LA  70049
    Opens at 8:30 a.m. Monday, Oct. 28
    Mondays – Fridays, 8:30 a.m. – 5:00 p.m.
    Closed on Monday, Nov. 11, for Veterans Day

    SBA continues to provide one-on-one assistance to disaster loan applicants in all the federal-state Disaster Recovery Centers and SBA Business Recovery Centers located throughout Louisiana. Please see a complete listing of locations and hours at SBA.gov/disaster.

    SBA’s low-interest federal disaster loans are available to 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 said. “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 provides federal low-interest disaster loans up to $500,000 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.

    To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency at https://www.disasterassistance.gov.

    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 Nov. 18, 2024. The deadline to apply for economic injury is June 16, 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-OSI USA: Deadline Approaching in Arkansas for SBA Working Capital Loans Due to Drought

    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 reminded small nonfarm businesses in 32 Arkansas counties and neighboring counties in Louisiana, Mississippi and Tennessee of the Nov. 25, 2024, deadline to apply for an SBA federal disaster loan for economic injury. These low‑interest loans are to offset economic losses because of reduced revenues caused by drought in the following primary counties that began Nov. 1, 2023.

    Primary Arkansas counties:  Arkansas, Ashley, Bradley, Calhoun, Chicot, Cleveland, Crittenden, Dallas, Desha, Drew, Grant, Jefferson, Lee, Lincoln, Lonoke, Monroe, Phillips, Prairie, St. Francis and Union;
    Neighboring Arkansas counties:  Clark, Columbia, Cross, Faulkner, Hot Spring, Mississippi, Ouachita, Poinsett, Pulaski, Saline, White and Woodruff;
    Neighboring Louisiana parishes: Claiborne, East Carroll, Morehouse, Union and West Carroll;
    Neighboring Mississippi counties: Bolivar, Coahoma, DeSoto, Issaquena, Tunica and Washington;
    Neighboring Tennessee counties:  Shelby and Tipton.

    When farmers face crop losses and a disaster is declared by the Secretary of Agriculture, SBA working capital loans become a lifeline for eligible small businesses. “These loans are the backbone that helps rural communities bounce back and thrive after a disaster strikes,” Sánchez said.

    According to Sánchez, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact,” Sánchez continued.

    “SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Sánchez added.

    The interest rate is 4 percent for businesses and 3.25 percent for private nonprofit organizations 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 initial 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.

    By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on March 25.

    Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

    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.

    ###

    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 –