Source: European Central Bank (video statements)
The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.
It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.
Source: United Kingdom – Executive Government & Departments 3
UK Statement at Norway’s World Trade Organization Trade Policy Review. Delivered by the UK’s Permanent Ambassador to the WTO and UN, Simon Manley.
State Secretary, a very warm welcome to you and your delegation both from Oslo and here from Geneva. Thank you for bringing the spark of the land of Midnight Sun, beautiful Fjords and magical Northern Lights.
Thank you to the WTO Secretariat, as ever, for their report. Thank you, Chair, for your introductory comments. Thank you to our distinguished discussant for his insightful comments. I thought your final point about the value shown by the Norwegian case, but obviously a much broader point about institutions, is a very worthwhile one.
Thank you, also, to the government of Norway for piloting the new Trade Policy Review portal. We were particularly pleased to see it come to life given that we have our own TPR coming up later this year so we may see it in use again.
Report Analysis
Chair, the reports highlight Norway’s extraordinary economic resilience, keeping up its very high GDP per capita level despite the challenges of COVID-19 and the rest.
Its transformation into a high-income, knowledge-based economy, for us, reflects the power of open trade and strategic investment. The World Bank says that international trade accounts for over 80% of its GDP, which is remarkable.
Between 2018 and 2024, foreign trade rose steadily. Imports grew from over 700 billion Norwegian Krone to over one trillion Krone, and exports from just over one trillion Krone to almost two trillion Krone. Extraordinary figures. Excluding oil, gas, ships and drilling platforms, traditional goods trade rose by about 50% and services trade by 110%.
Testimony, if I may say, State Secretary, to your commitment to open trade and investment, but also the rewards of that commitment.
Digitoll
As noted in our Advance Written Questions, we’re particularly interested in the Digitoll customs declaration system, set for full rollout next year.
We very much welcome its aim to automate customs proceedings and speed up clearances, especially given imports represent over 40% of Norway’s GDP.
We look forward to further details and we wish you every success with that rollout.
Bilateral Relationship
Bilaterally, Chair, our relationship with Norway is exceptionally close. So close, in fact, that the Norwegian Prime Minister described us as ‘best friends’ during our own Prime Minister’s visit in May. As somebody who has been around in the diplomatic service for a few years, I have never seen it so strong. And we have had several ministerial visits just in the last 12 months.
And this relationship also extends to trade. In 2024, Norway was the UK’s 12th largest trading partner with total trade valued at over £38 billion.
Our UK-EEA/EFTA Free Trade Agreement (FTA), signed in 2021, is one of the UK’s most modern and comprehensive. This FTA is not only a successful deal for businesses in both countries but also provides our governments with the opportunity for regular dialogue on trade, which we very much appreciate.
Our Strategic Partnership, signed in December last year, adds further depth and breadth, particularly in priority sectors such as energy.
In May, we welcomed our Green Industrial Partnership, which reflects our unique energy relationship across the North Sea. And just last week, in our newly published and elegant Trade Strategy, we committed to build on that bilateral partnership, underscoring its importance for our shared clean energy goals.
Gender
Chair, our countries also share a commitment to gender equality in trade.
We welcome Norway’s efforts, including through its board composition requirements for limited liability companies. As one of the three co-chairs of our Informal Working Group on Trade and Gender here, let me commend Norway’s participation in that group, and encourage it to continue sharing its valuable practices here at the WTO.
WTO Engagement
Which brings me last, but by no means least, to Norway’s exemplary commitment to the multilateral trading system and to this organisation.
Like others, I must start by paying tribute to my colleague, true friend of the system and multi-hatted Norwegian colleague, Petter Ølberg. DSB Chair, DS Reform Facilitator, General Council Chair; his personal commitment to this organisation is clear as is his track record of success.
Petter, your leadership as GC Chair was genuinely inspiring. And we agree with your final message to all of us: real dialogue and real reform are essential to the future of this organisation.
So, we are thrilled that you have been appointed as Reform Facilitator. As outlined in our Trade Strategy we remain a staunch supporter of the multilateral trading system but we agree there is an urgent need for reform.
And so we welcome Norway’s participation in key WTO plurilateral initiatives, including the JSIs on Services Domestic Regulation, Electronic Commerce, and Investment Facilitation for Development. I think they reflect your forward looking approach, State Secretary, to modernising global trade rules and are a key part of those reform efforts.
We applaud your ratification of the Agreement on Fisheries Subsidies and encourage your continued leadership.
And your leadership on trade and environment is particularly commendable, where you have consistently championed ambitious and constructive engagement.
Like the UK, as you said at the beginning, State Secretary, our two countries see trade policy as an enabler of the vital move to net zero. Our new Trade Strategy supports this, as it underlines that we would like to go further with Norway and others to “go further and faster in the transition to net zero”.
And finally, on trade and development, your leadership and advocacy for the interests of developing countries is appreciated right across this organisation. As fellow donors, we have worked closely together, and will continue to do so, including through our support for the Advisory Centre on WTO Law and as Board members of the Enhanced Integrated Framework, to help ensure the proper participation of developing countries in the multilateral trading system.
Conclusion
So, to conclude, State Secretary, keep up the good work! Keep up being an example to all of us.
As this is my last Trade Policy Review, let me say that it has been a real pleasure to end with such a close trading partner and genuine friend as well as a good neighbour. Trade Policy Reviews, Chair, are fundamental to transparency and the good working of this organisation. And I know my successor, Kumar Iyer, and our team, are looking forward to our own first TPR later this year.
‘Tusen takk’ to you, State Secretary, and your team for your full and transparent engagement with this TPR, yet another example of your continued commitment to this organisation. Thank you.
Source: Republic of China Taiwan
Foreign Minister Lin hosts welcome luncheon for former Japanese Economic Security Minister and current Representative Kobayashi
Date：2025-06-27
Data Source：TAIWAN-JAPAN RELATIONS ASSOCIATION
June 27, 2025
No. 223
Minister of Foreign Affairs Lin Chia-lung hosted a welcome luncheon on June 26 for Takayuki Kobayashi, former Japanese Minister in Charge of Economic Security and current member of the House of Representatives. They exchanged views on issues such as integrated diplomacy, response strategies for countering gray-zone tactics, and Taiwan-Japan cooperation in third countries.
Minister Lin stated that since assuming office, he had been proactively implementing integrated diplomacy. He said that the policy combined the strengths of the public and private sectors to expand Taiwan’s international presence and promote the Diplomatic Allies Prosperity Project, which aimed to deepen substantive and mutually beneficial relations with diplomatic allies and like-minded countries. He added that Taiwan was pleased that the Japanese government had recently bolstered strategic partnerships with Palau, Paraguay, Guatemala, and other diplomatic allies of Taiwan, and thanked Japan for actively advancing cooperative relations with Taiwan’s allies. He emphasized that Taiwan and Japan faced similar regional security and economic challenges and that the two sides should enhance collaboration and joint strategic responses.
Furthermore, he indicated that the industries of Taiwan and Japan were highly complementary and that, in the face of China’s aggressive pursuit of global high-tech industry dominance, Taiwan and Japan should work together to build non-red supply chains and boost economic resilience and industrial competitiveness to ensure that democracies steadily keep pace with technological developments worldwide.
Representative Kobayashi stated that Taiwan and Japan had a close friendship in terms of history, the economy, and personnel exchanges. He expressed hope that the visit would increase his understanding of Taiwan. In addition, he affirmed his desire to help further Taiwan-Japan ties in the future, which would contribute to safeguarding regional peace and stability.
Also in attendance at the luncheon were Taipei University of Marine Technology President Lu Yao-zhi, Institute for National Defense and Security Research Chief Secretariat Office Director Lin Yen-hung, and Japan-Taiwan Exchange Association Taipei Office Chief Representative Kazuyuki Katayama. The atmosphere was lively and cordial. (E)
Source: GlobeNewswire (MIL-OSI)
Stockholm, July 1st, 2025 – Virtune, the Swedish regulated crypto asset manager, today announced the listing of Virtune Coinbase 50 Index ETP (VCOIN50) on Euronext Amsterdam and Paris. The exchange-traded product (ETP) is now available to investors in the Netherlands and France through brokers and banks. The product is also available to Swedish investors through Avanza and Montrose.
The VCOIN50 ETP – which was also listed on Xetra on June 2 – now marks another key milestone with its listing on Euronext Amsterdam and Paris, further advancing Virtune’s expansion into the European market. Coinbase is serving as the custodian for VCOIN50.
Virtune has made history as the first company to list a crypto Exchange Traded Product (ETP) tracking the Coinbase 50 Europe index, developed by Coinbase, a trusted and global leader in crypto services and administered by MarketVector Indexes™ (“MarketVector”), a leading global index provider.
About Virtune Coinbase 50 Index ETP:
Virtune Coinbase 50 Index ETP is a physically-backed exchange-traded product (ETP) tracking the Coinbase 50 Europe Index, the premier global benchmark index for digital assets. Currently, VCOIN50 ETP offers exposure to 21 crypto assets that are compliant with market-specific regulatory and exchange-specific policies. Virtune’s expansion to include all 50 assets in the COIN50 is subject to regulatory and stock exchange approvals. The ETP provides exposure to up to 50 leading crypto assets and is rebalanced quarterly. The product features a transparent structure backed by physical holdings and secured with institutional-level solutions.
Allocation as of 30th of June 2025:
https://www.virtune.com/product/vcoin50
Christopher Kock, CEO of Virtune:
“We have worked closely with Coinbase since our inception, leveraging their industry-leading custody, trading, and staking services across all our ETPs. Following the successful launch of the COIN50 ETP, we are proud to now bring this product to a broader European audience through its cross-listing on Euronext Amsterdam and Paris. COIN50, designed as the crypto market’s equivalent of the S&P 500, aims to become the leading global crypto benchmark. This ETP provides both institutional and retail investors with diversified exposure to the crypto market – crafted by industry experts with deep experience and insight.”
Brett Tejpaul, Head of Coinbase Institutional:
“With the launch of the Virtune Coinbase 50 Index ETP in Europe, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the EU. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”
Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector:
“The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”
Key Information about the Product:
Exposure: Exposure to up to 50 leading crypto assets in one product
Backing: 100% physically backed by the underlying crypto assets
Custody: Institutional-grade custody by Coinbase
Management Fee: 0.95% per annum
Trading currency: USD, EUR
First day of trading on Euronext Amsterdam and Paris: Monday, 30th of June 2025
BloombergTicker: VCOIN50
ISIN: SE0024738389
WKN: A4A5D4
Exchange ticker: VRTC
Exchanges: Euronext Amsterdam, Euronext Paris, Xetra
For questions, contact:
Christopher Kock, CEO & Member of the Board of Directors
Mobile: +46 70 073 45 64
E-mail: christopher@virtune.com
About Virtune AB (Publ):
Headquartered in Stockholm, Virtune is a regulated Swedish digital asset manager and issuer of crypto ETPs listed on regulated European exchanges. With strong regulatory foundations, partnerships with industry leaders, and a skilled team, Virtune delivers innovative and compliant investment products aligned with the evolving global crypto landscape.
Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.
The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.
Source: Government of India
Source: Government of India (4)
Thailand’s Constitutional Court on Tuesday suspended Prime Minister Paetongtarn Shinawatra from duty pending a case seeking her dismissal, adding to mounting pressure on a government under fire on multiple fronts.
The court in a statement said it had accepted a petition from 36 senators that accuses Paetongtarn of dishonesty and breaching ethnical standards in violation of the constitution over the leak of a politically sensitive telephone conversation with Cambodia’s influential former leader Hun Sen.
The government is expected to be led by a deputy prime minister in a caretaker capacity while the court decides the case against Paetongtarn, who will remain in the cabinet as the new culture minister following a reshuffle. The government did not immediately respond to a request for comment on her suspension.
The leaked call with the veteran Cambodian politician triggered domestic outrage and has left Paetongtarn’s coalition with a razer-thin majority, with a key party abandoning the alliance and expected to soon seek a no confidence vote in parliament, as protest groups demand the premier resigns.
During a June 15 call intended to defuse escalating border tensions with Cambodia, Paetongtarn, 38, kowtowed before Hun Sen and criticised a Thai army commander, a red line in a country where the military has significant clout. She has apologised and said her remarks were a negotiating tactic.
FAMILY CRISIS
Paetongtarn’s battles after only 10 months in power underline the declining strength of the Pheu Thai Party, the populist juggernaut of the billionaire Shinawatra dynasty that has dominated Thai elections since 2001, enduring military coups and court rulings that have toppled multiple governments and prime ministers.
It has been a baptism of fire for political novice Paetongtarn, who thrust into power as Thailand’s youngest premier and replacement for Srettha Thavisin, who was dismissed by the Constitutional Court for violating ethics by appointing a minister who was once jailed.
Paetongtarn’s government has also been struggling to revive a stuttering economy and her popularity has declined sharply, with a June 19-25 opinion poll released at the weekend showing her approval rating sinking to 9.2% from 30.9% in March.
Paetongtarn is not alone in her troubles, with influential father Thaksin Shinawatra, the driving force behind her government, facing legal hurdles of his own in two different courts this month.
Divisive tycoon Thaksin, according to his lawyer, appeared at his first hearing at Bangkok’s Criminal Court on Tuesday on charges he insulted Thailand’s powerful monarchy, a serious offence punishable by up to 15 years in prison if found guilty. Thaksin denies the allegations and has repeatedly pledged allegiance to the crown.
The case stems from a 2015 media interview Thaksin gave while in self-imposed exile, from which he returned in 2023 after 15 years abroad to serve a prison sentence for conflicts of interest and abuse of power.
Thaksin, 75, dodged jail and spent six months in hospital detention on medical grounds before being released on parole in February last year. The Supreme Court will this month scrutinise that hospital stay and could potentially send him back to jail.
(Reuters)
Source: European Parliament 2
on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges
(COM(2025)0164 – C10‑0064-2025 – 2025/0085(COD))
(Ordinary legislative procedure: first reading)
The European Parliament,
– having regard to the Commission proposal to Parliament and the Council (COM(2025)0164),
– having regard to Article 294(2) and Articles 164, 175, 177 and 322 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C10‑0064-2025),
– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,
– having regard to the budgetary assessment by the Committee on Budgets,
– having regard to Rules 60 and 58 of its Rules of Procedure,
– having regard to the opinion of the Committee on Security and Defence,
– having regard to the letter from the Committee on Regional Development,
– having regard to the report of the Committee on Employment and Social Affairs (A10-0122/2025),
1. Adopts its position at first reading hereinafter set out;
2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;
3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.
Amendment 1
Proposal for a regulation
Recital 1
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Text proposed by the Commission |
Amendment |
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(1) Given the major geopolitical and economic events that have reshaped some of the Union’s strategic political priorities, it is necessary to provide for possibilities for Member States to address those strategic challenges and to refocus their resources to newly emerging priorities. |
(1) Given the major geopolitical and economic events that have reshaped some of the Union’s strategic political priorities, it is necessary to provide for more structural possibilities for Member States to address those strategic challenges and the investment needs of industries and to refocus their resources to newly emerging priorities in an inclusive manner and only where those challenges have not been addressed in the current programmes, while safeguarding cohesion, creating quality jobs and preserving a level playing field in the internal market. |
Amendment 2
Proposal for a regulation
Recital 1 a (new)
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Text proposed by the Commission |
Amendment |
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(1a) The ESF+ is an essential pillar of cohesion policy. The main objectives of the ESF+ are to support Member States and regions to achieve social inclusion, social cohesion, to activate the labour market and to deliver on the principles and the headline targets of the European Pillar of Social Rights by supporting investments in people and structures in the policy area of employment and social policies, which are far from met yet. ESF+ funding should support those objectives. The reprogramming of resources under the ESF+ should ensure that adjustment measures in response to strategic challenges do not undermine its social approach, but strengthen its capacity to combat inequality. |
Amendment 3
Proposal for a regulation
Recital 1 b (new)
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Text proposed by the Commission |
Amendment |
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(1b) The European Court of Auditors’ adopted on 6 May 2025 the opinion on the legislative proposal forming the basis for this Regulation. |
Amendment 4
Proposal for a regulation
Recital 1 c (new)
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Text proposed by the Commission |
Amendment |
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(1c) Cohesion policy is often used as an emergency response tool, which risks undermining the primary longer-term policy and objectives of cohesion policy, as underlined in the European Court of Auditors’ opinion of 6 May 2025. It is essential to ensure that any measures taken in the context of emergencies do not interfere with the objectives of cohesion policy. Member States should ensure safeguards in the regulatory framework to prevent the dismantling of the core objectives of the cohesion policy. |
Amendment 5
Proposal for a regulation
Recital 1 d (new)
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Text proposed by the Commission |
Amendment |
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(1d) The Union and its Member States continue to show that they can rapidly react to geopolitical events and are willing to use sufficient financial resources towards strengthening our defence industry through different Union and national programmes, which is positive and needed for the security of the Union. It is important to strengthen our defence sector through competitiveness programmes. At the same time, it is of utmost importance to continue to invest in the social objectives of the Union through the ESF+, as social cohesion is a cornerstone of the Union’s democratic and societal resilience which is essential in facing threats of aggression. |
Amendment 6
Proposal for a regulation
Recital 2
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Text proposed by the Commission |
Amendment |
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(2) The White paper for European Defence – Readiness 20303 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence and the defence industry. In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. Therefore, it is appropriate to include incentives for the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council5 to facilitate the development of skills in the defence industry. |
(2) It is already possible to support the development of skills in the defence industry under the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council2a, to facilitate the development of skills and training in the defence industry, while safeguarding social standards. Together with the Niinisto Report, ‘Safer Together’, the EU Preparedness Strategy, and the European Defence Industrial Strategy, the White paper for European Defence – Readiness 20303 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence, civil defence, the defence industry, dual use technologies and civil preparedness capabilities, which should be carried out together with social spending, creating employment and up- and reskilling opportunities . In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. |
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2a Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj). |
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3 Joint White Paper for European Defence Readiness 2030, JOIN(2025) 120 final, 19.3.2025. |
3Joint White Paper for European Defence Readiness 2030, JOIN(2025) 120 final, 19.3.2025. |
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4 COM (2025) 90 final |
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5 Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj). |
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Amendment 7
Proposal for a regulation
Recital 3
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Text proposed by the Commission |
Amendment |
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(3) It is already possible to support the adaptation of workers, entrepreneurs and enterprises to change under the ESF+. In line with the decarbonisation measures proposed by the Communication from the Commission – the Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation of 26 February 20256 and to further facilitate industrial adjustment linked to the decarbonisation of production processes and products, in the context of the objective of providing lifelong opportunities to regularly upskill and reskill people, as set out in the Union of Skills Communication, including through a newly proposed Skills Guarantee, the ESF+ should facilitate the skilling, job maintenance and job creation throughout the decarbonisation process by providing flexibilities to implementation. |
(3) It is already possible to support the adaptation of workers, entrepreneurs and enterprises to change under the ESF+. In line with the decarbonisation measures proposed by the Communication from the Commission – the Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation of 26 February 20256 and to further facilitate industrial adjustment linked to the decarbonisation of production processes and products, in the context of the objective of providing lifelong opportunities to regularly upskill and reskill people, as set out in the Union of Skills Communication, including through a newly proposed Skills Guarantee, the ESF+ should facilitate the skilling, job maintenance and quality job creation throughout the decarbonisation process by providing flexibilities to implementation. Particular consideration should be given to the specific needs and circumstances of less developed regions and rural areas, which should benefit from the green transition and to ensure their integration into the Union’s broader economic, social and environmental development. In accordance with Article 5(1), second subparagraph, of Regulation (EU) 2021/1060, the ESF+ contributes to the specific objective of enabling regions and people to address the social, employment, economic and environmental impacts of the transition towards the Union’s 2030 targets for energy and climate and a climate-neutral economy of the Union by 2050, based on the Paris Agreement. |
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6 COM (2025) 85 final |
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Amendment 8
Proposal for a regulation
Recital 4
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Text proposed by the Commission |
Amendment |
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(4) It is already possible, under ESF+, to support investments contributing to the objectives of the ‘Strategic Technologies for Europe Platform’ (STEP) established by Regulation (EU) 2024/795 of the European Parliament and of the Council7 which aims to strengthen the Union’s technological leadership. In order to further incentivise investments from the ESF+ in those critical fields, the possibility for Member States to receive a higher pre-financing for related programme amendments should be extended. |
(4) It is already possible, under ESF+, to support investments contributing to the objectives of the ‘Strategic Technologies for Europe Platform’ (STEP) established by Regulation (EU) 2024/795 of the European Parliament and of the Council7 which aims to strengthen the Union’s technological leadership and the development of skills. In order to further incentivise investments from the ESF+ in those critical fields, the possibility for Member States to receive a higher pre-financing for related programme amendments should be extended. |
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7 Regulation (EU) 2024/795 of the European Parliament and of the Council of 29 February 2024 establishing the Strategic Technologies for Europe Platform (STEP), and amending Directive 2003/87/EC and Regulations (EU) 2021/1058, (EU) 2021/1056, (EU) 2021/1057, (EU) No 1303/2013, (EU) No 223/2014, (EU) 2021/1060, (EU) 2021/523, (EU) 2021/695, (EU) 2021/697 and (EU) 2021/241 (OJ L, 2024/795, 29.2.2024, ELI: http://data.europa.eu/eli/reg/2024/795/oj) |
7 Regulation (EU) 2024/795 of the European Parliament and of the Council of 29 February 2024 establishing the Strategic Technologies for Europe Platform (STEP), and amending Directive 2003/87/EC and Regulations (EU) 2021/1058, (EU) 2021/1056, (EU) 2021/1057, (EU) No 1303/2013, (EU) No 223/2014, (EU) 2021/1060, (EU) 2021/523, (EU) 2021/695, (EU) 2021/697 and (EU) 2021/241 (OJ L, 2024/795, 29.2.2024, ELI: http://data.europa.eu/eli/reg/2024/795/oj) |
Amendment 9
Proposal for a regulation
Recital 8 a (new)
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Text proposed by the Commission |
Amendment |
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(8a) Skills development and the training of young talent and entrepreneurs through incentives and targeted training are essential for job creation, and institutions working on skills creation and uptake should cooperate closely to align with labour market needs. Especially, vocational education and training institutes, given their direct links to the labour market and this should be supported through the ESF+. |
Amendment 10
Proposal for a regulation
Recital 5
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Text proposed by the Commission |
Amendment |
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(5) In order to enable Member States to carry out a meaningful reprogramming and focus resources on strategic Union priorities set out in recitals 2, 3 and 4 without causing further delays in implementation, it is appropriate to provide for further flexibilities. The mid-term review should serve as an opportunity to address emerging strategic challenges and new priorities therefore, Member States should benefit from additional time to complete the assessment of the outcome of the mid-term review and the submission of related programme amendments |
(5) In order to enable Member States to carry out a meaningful and just reprogramming without losing focus on the main objectives of the fund and focus resources on strategic Union priorities set out in recitals 2, 3 and 4 without causing further delays in implementation, it is appropriate to provide for further flexibilities. The mid-term review should serve as an opportunity to address emerging strategic social challenges and new priorities therefore, Member States should benefit from additional time to complete the assessment of the outcome of the mid-term review and the submission of related programme amendments. While aligning with new Union priorities, diverting attention to global strategic challenges should not change the primary mission of the ESF+. The cohesion policy must remain firmly rooted in its core objective: reducing regional disparities. |
Amendment 11
Proposal for a regulation
Recital 6
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Text proposed by the Commission |
Amendment |
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(6) In order to accelerate the implementation of cohesion policy programmes and alleviate the pressure on national budgets and to inject the necessary liquidity for the implementation of key investments, an additional one-off pre-financing from the ESF+ should be paid for programmes. Because of the adverse impact of the Russian aggression in Ukraine, the pre-financing percentage should be further increased for certain programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine. In order to incentivise the re-programming towards key priorities in the context of the mid-term review, the additional pre-financing should only be available where a certain threshold for the reallocation of financial resources to specific crucial priorities is reached. |
(6) NUTS2 regions bordering Russia, Belarus or Ukraine are disproportionate heavily impacted by Russian war of aggression, experiencing job losses, less economic activity and social exclusion. In order to accelerate the implementation of cohesion policy programmes and alleviate the pressure on national budgets and to inject the necessary liquidity for the implementation of key investments, an additional one-off pre-financing from the ESF+ should be paid for programmes. Because of the adverse impact of the Russian aggression in Ukraine, the pre-financing percentage should be further increased for certain programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, with no specific conditions to reallocate financial resources of the programme to dedicated priorities. |
Amendment 12
Proposal for a regulation
Recital 8
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Text proposed by the Commission |
Amendment |
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(8) It should also be possible to apply a maximum co-financing rate of up to 100% to priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, given the adverse impact of the Russian aggression on those regions. |
(8) It should also be possible, while taking into account the current differentiation between categories of regions, to apply a maximum co-financing rate of up to 95% to programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, given the adverse impact of the Russian aggression on those regions. |
Amendment 13
Proposal for a regulation
Recital 9
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Text proposed by the Commission |
Amendment |
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(9) Since the objectives of this Regulation, namely to address strategic challenges, refocus investments on critical new priorities and simplify and accelerate policy delivery, cannot be sufficiently achieved by the Member States but can rather be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective. |
(9) Since the objectives of this Regulation, namely to address strategic social challenges, refocus investments on critical new priorities and simplify and accelerate policy delivery, cannot be sufficiently achieved by the Member States but can rather be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective. |
Amendment 14
Proposal for a regulation
Recital 9 a (new)
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Text proposed by the Commission |
Amendment |
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(9a) This Regulation has implications for the Union budget. Accordingly, the European Parliament’s Committee on Budgets adopted a budgetary assessment, which forms an integral part of Parliament’s mandate for negotiations. |
Amendment 15
Proposal for a regulation
Recital 11
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Text proposed by the Commission |
Amendment |
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(11) [Given the urgent need to enable crucial investments in skills in the defence industry as well as in adaptation to change linked to decarbonisation in the context of pressing strategic geopolitical challenges, this Regulation should enter into force on the day following that of its publication in the Official Journal of the European Union,] |
(11) [Given the increased need to enable crucial investments in specific skills in the critical industries, including the defence industry, as well as in adaptation to change linked to decarbonisation in the context of pressing strategic geopolitical challenges, this Regulation should enter into force on the day following that of its publication in the Official Journal of the European Union,] |
Amendment 16
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 1 – subparagraph 1
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Text proposed by the Commission |
Amendment |
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In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes. |
In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. |
Justification
The minimum reprogramming threshold to be eligible to the 4,5% pre-financing should be lower as Member States should be incentivised to reprogramme to reasonable level. The one-off pre-financing for Eastern bordering regions should not be submitted to minimum reprogramming threshold taking into account the major challenges that these regions face, and the related subparagraph is moved in a new paragraph.
Amendment 17
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 1 – subparagraph 2
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Text proposed by the Commission |
Amendment |
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The additional pre-financing referred to in the first subparagraph of this paragraph shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d have been approved; provided that the request for a programme amendment is submitted by 31 December 2025. |
The additional pre-financing shall only apply where reallocations of at least 10% of financial resources of the programme from the ESF+ to one or more dedicated priorities established in accordance with Articles 12a 12c and 12d have been approved and provided that the measures supporting the dedicated priorities established in accordance with Articles 12a, 12c and 12d target smaller beneficiaries and provided that the request for a programme amendment is submitted by 31 December 2025. |
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For the purpose of calculating the total reallocations of the financial resources of the programme from the ESF+ to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d, as referred to in the first subparagraph, the Commission shall assess the measures and take into account only the measures responding to the strategic priorities identified. |
Amendment 18
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 1 a (new)
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Text proposed by the Commission |
Amendment |
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1a. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided that the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes. NUTS 2 regions bordering Russia, Belarus or Ukraine require special attention and exceptional support as they are often at the frontline of potential conflicts and they are vulnerable to external threats, making it crucial to supporting their resilience in countering hybrid attacks. |
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The pre-financing due to the Member State which results from programme amendments pursuant to reallocation to the priorities referred to in the second subparagraph of this paragraph shall be counted as payments made in 2025 for the purposes of calculating the amounts to be de-committed in accordance with Article 105 of Regulation (EU) 2021/1060, provided that the request for programme amendment was submitted in 2025. |
Amendment 19
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU)2021/1057
Article 5a – paragraph 1 b (new)
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Text proposed by the Commission |
Amendment |
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1b. Before disbursing payment for the pre-financing pursuant to this Article, the Commission shall assess the Union’s overall budgetary situation, in particular with respect to the principle of the sustainability of the Union budget. Where, on the basis of that assessment, the Commission identifies a risk to the Union budget arising from paying the full pre-financing amount in 2026, the Commission is empowered to adopt a delegated act in accordance with Article 37 to provide for only part of the pre-financing amount to be disbursed to the Member States in 2026, with the remaining part disbursed in 2027. |
Amendment 20
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 2
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Text proposed by the Commission |
Amendment |
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(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved. |
(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 10% of the ESF+ financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved. |
Justification
The minimum reprogramming threshold to be eligible to the 4,5% pre-financing should be lower as Member States should be incentivised to reprogramme to reasonable level.
Amendment 21
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 2 a (new)
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Text proposed by the Commission |
Amendment |
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(2a) When amending programmes, the Member States shall include, with the close and meaningful participation of social partners, for the dedicated priorities, obligations to the beneficiaries to respect working and employment conditions under applicable Union and national law, conventions of the International Labour Organization (ILO) and collective agreements. |
Justification
In line with Articles 33 and 169 of the Financial Regulation.
Amendment 22
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 3
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Text proposed by the Commission |
Amendment |
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(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 100 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. The derogation shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved, provided that the programme amendment is submitted by 31 December 2025. |
(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 95 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. |
Justification
The 95% co-financing rate for Eastern bordering regions should not be submitted to minimum reprogramming threshold taking into account the major challenges that these regions face.
Amendment 23
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 4
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Text proposed by the Commission |
Amendment |
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(4) In addition to the assessment for each programme on the outcome of the mid-term review to be submitted in accordance with Article 18(2) of Regulation (EU) 2021/1060, Member States may resubmit a complementary assessment as well as related requests for programme amendments, taking into account the possibility for dedicated priorities in accordance with Articles 12a, 12c and 12d within 2 months of the entry into force of Regulation (EU) XXXX/XXXX [this Regulation]. The deadlines set out in Article 18 (3) of Regulation (EU) 2021/1060 shall apply. |
(4) In addition to the assessment for each programme on the outcome of the mid-term review to be submitted in accordance with Article 18(2) of Regulation (EU) 2021/1060, Member States may resubmit a complementary assessment as well as related requests for programme amendments, taking into account the possibility for dedicated priorities in accordance with Articles 12a 12c and 12d by 31 December 2025. The deadlines set out in Article 18 (3) of Regulation (EU) 2021/1060 shall apply. |
Justification
Taking into account that a significant level of reprogramming is expected, Member States could need more time to provide a complementary assessment.
Amendment 24
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Regulation (EU) 2021/1057
Article 12a – paragraph 2 – subparagraph 1
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Text proposed by the Commission |
Amendment |
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In addition to the pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, where the Commission approves an amendment of a programme including one or more priorities dedicated to operations supported by the ESF+ contributing to the STEP objectives referred to in Article 2 of Regulation (EU) 2024/795, it shall make an exceptional pre-financing of 30 % on the basis of the allocation to those priorities, provided that the programme amendment is submitted to the Commission by 31 December 2025. That exceptional pre-financing shall be paid within 60 days of the adoption of the Commission decision approving the programme amendment.; |
In addition to the pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, where the Commission approves an amendment of a programme including one or more priorities dedicated to operations supported by the ESF+ contributing to the STEP objectives referred to in Article 2 of Regulation (EU) 2024/795, it shall make an exceptional pre-financing of 30 % on the basis of the allocation to those priorities, provided that smaller beneficiaries have priority access to the funding and that the programme amendment is submitted to the Commission by 31 December 2025. That exceptional pre-financing shall be paid within 60 days of the adoption of the Commission decision approving the programme amendment; |
Amendment 25
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12c – title
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Text proposed by the Commission |
Amendment |
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Support to the defence industry |
Support to skills in civil preparedness and the defence industry |
Amendment 26
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12 c – paragraph 1
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Text proposed by the Commission |
Amendment |
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(1) Member States may decide to programme support to development of skills in the defence industry under dedicated priorities. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l). |
(1) Member States may decide to programme support for the development of skills in the defence industry and cyber security under dedicated priorities, prioritising dual use capabilities related to civil defence and preparedness, provided that micro, small and medium- sized enterprises have priority access to the support. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (g). |
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In this context, Member States may allocate resources to attract young talent and entrepreneurs, particularly to rural or less developed regions, through incentives and targeted training. |
Amendment 27
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12c – paragraph 5
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Text proposed by the Commission |
Amendment |
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(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be 100%. |
(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be increased by 10 percentage points above the co-financing rate applicable, not exceeding 100%. |
Amendment 28
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12d – paragraph 1
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Text proposed by the Commission |
Amendment |
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(1) Member States may decide to programme support aiming at skilling, up-skilling and re-skilling with a view to adaptation of workers, enterprises and entrepeneurs to change contributing to decarbonisation of production capacities under dedicated priorities. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l). |
(1) Member States may, after consulting the social partners at national level, decide to programme targeted support aiming at skilling, up-skilling and re-skilling and training with a view to adaptation of workers, enterprises and entrepreneurs in particular micro, small and medium-sized enterprises and the social economy to change contributing to decarbonisation of production capacities under dedicated priorities, with in the objective of maintaining competitiveness, sustainability and innovation during the green transition. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (g). |
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Member States may support promoting collaboration between different organisations, such as educational institutions who support skills development, provided that such measures support any of the specific objectives set out in Article(4), points (a) to (g). |
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Resources allocated to the dedicated priority referred to in the first two subparagraphs of this paragraph shall be taken into account when ensuring compliance with the thematic concentration requirements as set out in Article 7. |
Amendment 29
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12d – paragraph 5
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Text proposed by the Commission |
Amendment |
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(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be 100%.. |
(5) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for dedicated priorities referred to in paragraph 1 of this Article shall be increased by 10 percentage points above the co-financing rate applicable, not exceeding 100%. |
Amendment 30
Proposal for a regulation
Article 1 – paragraph 1 – point 3 a (new)
Regulation (EU) 2021/1057
Article 12d a (new)
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Text proposed by the Commission |
Amendment |
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(3a) the following article is inserted: |
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Article 12da |
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Guidance and administrative simplification |
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The Commission shall publish, by … [60 days after the entry into force of Regulation (EU) XXXX/XXXX (this amending Regulation)], detailed guidelines, accompanied by a Q&A system, aiming to clarify the technical, legal and procedural implications of the measures adopted in Articles 5a, 12c and 12d. Those guidelines shall support the managing authorities in the uniform application of this Regulation, reducing the administrative burden and facilitating solutions to early doubts. |
Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that she received input from the following entities or persons in the preparation of the report, prior to the adoption thereof in committee:
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Entity and/or person |
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ETUC |
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Social Platform |
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Save the Children |
The list above is drawn up under the exclusive responsibility of the rapporteur.
Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that she has submitted to the concerned natural persons the European Parliament’s Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.
for the Committee on Employment and Social Affairs
on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges
(COM(2025)0164 – C10‑0064/2025 – 2025/0085(COD))
Rapporteur for budgetary assessment: Jean‑Marc Germain
The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:
The Committee on Budgets,
A. whereas the proposal does not modify existing budgetary commitments and remains within the limits of the overall allocations for the period 2021-2027 and is therefore budgetary neutral;
B. whereas the combined effect of exceptional one-off 30 % pre-financing and 100 % co-financing on new EU priorities, as well as additional one-off pre-financing of 4.5 % (9.5 % for NUTS 2 regions that have borders with Russia, Belarus or Ukraine) for programmes that reallocate at least 15 % of their resources to the new priorities, leads to a partial frontloading of estimated payment appropriations of EUR 500 million in 2026, followed by lower payments in 2027;
C. whereas the extension of the eligibility period by one year – from the end of 2029 to the end of 2030 – for programmes that reallocate at least 15 % of their total allocation to new specific objectives creates payments in 2030 and changes the applicable decommitment rule for 2027 from year n+2 to year n+3;
Conclusions of the budgetary assessment
1. Determines that the proposal is compatible with the MFF Regulation[1]; notes that the proposed measures are voluntary and do not involve any top-up of the initial allocation available to Member States;
2. Notes that the proposal requires additional human resources of EUR 376 000 per year in 2025, 2026 and 2027, for two establishment plan posts; notes that the additional needs will be covered by redeployment within the Directorate-General or other Commission services; notes, however, that the overall impact of redeployments within the Commission services has reached its limit;
3. Determines that the proposal is compatible with the Interinstitutional agreement on budgetary discipline (IIA)[2]; notes, however, that re-programming in the context of the mid-term review is considered not to alter the contribution to climate targets as set out in point 16 of the IIA; underlines that allocating resources to new objectives, including for the competitiveness, preparedness and strategic autonomy of the EU, could lead to shifting resources from interventions with a higher coefficient for calculation of support to climate change objectives to interventions with a lower coefficient, thus potentially reducing the expenditure supporting climate objectives; invites the Commission to take preventive action to counter this risk; calls on the Commission to assess the impact of the revised plans on the shares of expenditure supporting climate objectives; notes also that the ‘do no significant harm’ principle should apply to all European investments in line with the applicable legislation;
4. Considers that the proposal is compatible with the budgetary principles laid down in the Financial Regulation[3]; notes, however, that the pre-financing paid in 2026 will be counted as payments made in 2025 for the purposes of calculating the amounts to be decommitted, in particular as regards respect for the principle of annuality;
5. Recalls the importance of the general regime of conditionality as set out in Article 6 of the Financial Regulation; urges the Commission and the Member States to ensure compliance with the Charter of Fundamental Rights of the European Union and to respect the Union values enshrined in Article 2 of the Treaty on European Union in the implementation of the budget;
6. Notes that the Commission does not expect any implications for the budget for 2025 beyond the redeployment of existing human resources; expects the Commission to take into account the current proposal and the updated payment needs for the European Social Fund Plus (ESF+) in the budgetary procedure for 2026 following the actual re-programming by Member States and to keep Parliament informed in a timely manner of the progress of the mid-term review in the Member States; calls for a prudent approach to payment frontloading;
Recommendations as regards budget implementation
7. Notes that the proposal provides further flexibility and introduces incentives for Member States in the context of the mid-term review of cohesion policy to address strategic challenges that the EU is facing by redirecting resources to new EU priorities; underlines that cohesion policy should not be used again as a crisis response tool and maintains that this approach risks undermining its longer-term policy and investment objectives, including investments in regional development, skills, innovation and productivity; regrets that the Commission did not perform an impact assessment of the changes; acknowledges that the proposal offers a pragmatic, albeit unsatisfactory, way forward for dealing with insufficient budgetary flexibility and response capacity in the EU budget;
8. Recalls that the ESF+ is an essential pillar of cohesion policy and its main objective is to support Member States and regions in achieving social inclusion and social cohesion, to activate the labour market and to deliver on the principles and the headline targets of the European Pillar of Social Rights by supporting investments in people and systems in the policy area of employment and social policies; highlights that the Member States should ensure safeguards in the regulatory framework to prevent the dismantling of the core objectives of cohesion policy; underlines the need to ensure that the implementation of the amended ESF+ Regulation[4] is accompanied by measures for simplification and strengthening of administrative capacities in order to drive investments in key sectors and increase the absorption rate;
9. Underlines that the combined effect of reallocating a minimum of 15 % of resources and of lifting of the 20 % ceiling for transfer towards Strategic Technologies for Europe Platform (STEP) objectives may have a negative impact on the achievements of targets initially set in the ESF+ Regulation and could result in some initially planned actions for later years not materialising owing to a discontinuity in matching objectives with resources, while noting the need to adapt to new priorities, taking into account the recent geopolitical dynamics;
10. Notes that payments to 2021-2027 cohesion policy programmes were of a very low level in the first years of implementation, leading to an increase in payment needs towards the later years; recalls that this actual payment cycle does not coincide with the more linear payment profile set out in the MFF Regulation[5] and that this situation results in a serious risk of exceeding payment ceilings; recalls that the gradual increase in payments towards the later part of the programming period is a feature of multiannual programmes; considers that the frontloading of payments towards 2026 could have an impact on the pressure on payments;
11. Recalls that the STEP Regulation[6] and the RESTORE Amending Regulation of 2024 were accompanied by a frontloading of payment appropriations in the budgets for 2024 and for 2025; notes that the total amount of payment appropriations in the 2026 draft budget is very close to the payment ceiling and is concerned, in this respect, about the high level of uncertainty with regard to the volume of payment claims in 2026; highlights the difficulties in predicting the take-up of the newly introduced flexibilities and incentives and in estimating payment needs, as also underpinned by the ongoing trend of increasing inaccuracy of payment forecasts by Member States; calls on the Commission to closely monitor payment developments and provide timely information to Parliament in this regard, and to propose any remedial action to the budgetary authority if needed;
12. Recalls that 100 % co-financing without additional resources leads to a lower total amount of financial support through the programme; insists that broadening the scope of investment must not lead to a reduction in financial support for the initial priorities of investing in employment, social services, inclusive education and skills, and of providing assistance to the most vulnerable, including children; recalls that mandatory co-financing is an important principle of cohesion policy funding;
13. Requests that the Commission provide traceable information in the form of timely reports on transfers to ensure that the impact of the mid-term review is clearly identifiable for the budgetary authority;
14. Calls on the Commission to maintain consistency in applying conditionality across all EU funding streams and insists that amendments in Parliament’s reading are essential to close any loophole; demands rigorous enforcement of conditionality mechanisms and explicitly rejects any reallocation of blocked cohesion policy funds if this would circumvent the rule-of-law-related requirements established in the Common Provisions Regulation[7]; underlines that rule of law conditionality is a fundamental principle that must apply to all EU funds without exception;
15. Considers that the actual take-up of the proposal may depend on various factors, such as the effectiveness of the 15 % re-allocation threshold and the availability of more favourable funding options under other Union programmes; considers that the proposed condition of the reallocation of at least 15 % of the funds to new priorities may be too high and unsuitable for single national programmes, as it could create implementation complications; highlights the importance of preventing double financing and calls on the Member States and the Commission to ensure that support for new types of investment is in addition to support under other Union programmes, including the EDF, EDIP and SAFE;
16. Notes that the mid-term review may reduce the amount of funds at risk of decommitment; recalls that an amount equivalent to the cumulative decommitments made on outstanding commitments since 2021 can be made available for the European Union Recovery Instrument (EURI); asks the Commission to provide further analysis of the impact of the mid-term review on the EURI instrument.
AMENDMENT
As part of its budgetary assessment, the Committee on Budgets also submits the following amendment to the proposal:
Amendment 1
Proposal for a regulation
Recital [9] a (new)
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Text proposed by the Commission |
Amendment |
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([9]a) This Regulation has implications for the Union budget. Accordingly, the European Parliament’s Committee on Budgets adopted a budgetary assessment, which forms an integral part of Parliament’s mandate for negotiations. |
ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR FOR BUDGETARY ASSESSMENT HAS RECEIVED INPUT
The rapporteur for budgetary assessment declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.
PROCEDURE – COMMITTEE ASKED FOR BUDGETARY ASSESSMENT
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Title |
Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges |
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References |
COM(2025)0164 – C10-0064/2025 – 2025/0085(COD) |
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Committee(s) responsible |
EMPL |
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Budgetary assessment by Date announced in plenary |
BUDG 5.5.2025 |
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Rapporteur for budgetary assessment Date appointed |
Jean-Marc Germain 12.5.2025 |
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Discussed in committee |
5.6.2025 |
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Date adopted |
16.6.2025 |
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Result of final vote |
+: –: 0: |
24 6 3 |
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Members present for the final vote |
Georgios Aftias, Rasmus Andresen, Tomasz Buczek, Jens Geier, Thomas Geisel, Jean-Marc Germain, Sandra Gómez López, Andrzej Halicki, Alexander Jungbluth, Giuseppe Lupo, Ignazio Roberto Marino, Siegfried Mureşan, Jana Nagyová, Fernando Navarrete Rojas, Matjaž Nemec, Danuše Nerudová, Ruggero Razza, Karlo Ressler, Bogdan Rzońca, Hélder Sousa Silva, Joachim Streit, Carla Tavares, Nils Ušakovs, Lucia Yar, Auke Zijlstra |
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Substitutes present for the final vote |
Pablo Arias Echeverría, Roman Haider, Céline Imart, Rasmus Nordqvist, Jacek Protas, Annamária Vicsek |
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Members under Rule 216(7) present for the final vote |
Benoit Cassart, Andi Cristea |
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FINAL VOTE BY ROLL CALL
IN COMMITTEE ASKED FOR BUDGETARY ASSESSMENT
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24 |
+ |
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PPE |
Georgios Aftias, Pablo Arias Echeverría, Andrzej Halicki, Céline Imart, Siegfried Mureşan, Fernando Navarrete Rojas, Danuše Nerudová, Jacek Protas, Karlo Ressler, Hélder Sousa Silva |
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Renew |
Benoit Cassart, Joachim Streit, Lucia Yar |
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S&D |
Andi Cristea, Jens Geier, Jean-Marc Germain, Sandra Gómez López, Giuseppe Lupo, Matjaž Nemec, Carla Tavares, Nils Ušakovs |
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Verts/ALE |
Rasmus Andresen, Ignazio Roberto Marino, Rasmus Nordqvist |
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6 |
– |
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ESN |
Alexander Jungbluth |
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NI |
Thomas Geisel |
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PfE |
Tomasz Buczek, Roman Haider, Annamária Vicsek, Auke Zijlstra |
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3 |
0 |
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ECR |
Ruggero Razza, Bogdan Rzońca |
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PfE |
Jana Nagyová |
Key to symbols:
+ : in favour
– : against
0 : abstention
for the Committee on Employment and Social Affairs
on the proposal for a regulation of the European Parliament and of the Council on Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges
((COM(2025)0164 – C10‑0064/2025 – (2025/0085(COD))
Rapporteur for opinion: Urmas Paet
AMENDMENTS
The Committee on Security and Defence submits the following to the Committee on Employment and Social Affairs, as the committee responsible:
Amendment 1
Proposal for a regulation
Recital 2
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Text proposed by the Commission |
Amendment |
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(2) The White paper for European Defence – Readiness 20303 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence and the defence industry. In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. Therefore, it is appropriate to include incentives for the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council5 to facilitate the development of skills in the defence industry. |
(2) The White paper for European Defence – Readiness 2030 of 19 March 2025 paves the way for a true European defence union, including by suggesting to Member States to heavily invest into defence and the defence industry. Investment in defence and security-related skills covering dual use and transferable skills contributes not only to European defence resilience but also to territorial cohesion. In that regard, the Communication from the Commission – the Union of Skills of 5 March 20254 (‘the Union of Skills Communication’) sets out actions to address skills gaps and shortages in the Union, also through the Pact for Skills Initiative referred to in that Communication, and its large-scale partnerships, including one on the defence ecosystem. Furthermore, lifelong learning programmes and initiatives should promote continuous development and adaptation to emerging technologies and defence needs. Moreover, in the European Defence Industrial Strategy of 5 March 2024, the Commission set the priority of the full integration of defence and security as a strategic objective of relevant Union funding and programmes, including ESF+. Therefore, it is appropriate to include incentives for the ESF+ established by Regulation (EU) 2021/1057 of the European Parliament and of the Council5 to facilitate the development of skills in the European defence industry, in particular to address skills gaps and shortages directly related to the ability to address the critical capability gaps set out in the White paper. Defence industry should be understood as the industries producing defence products, their respective supply chains, and industries which develop and produce dual-use goods. |
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__________________ |
__________________ |
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3 Joint White Paper for European Defence Readiness 2030, JOIN(2025) 120 final, 19.3.2025. |
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4 COM (2025) 90 final |
4 COM (2025) 90 final |
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5 Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj). |
5 Regulation (EU) 2021/1057 of the European Parliament and of the Council of 24 June 2021 establishing the European Social Fund Plus (ESF+) and repealing Regulation (EU) No 1296/2013 (OJ L 231, 30.6.2021, p. 21, ELI: http://data.europa.eu/eli/reg/2021/1057/oj). |
Amendment 2
Proposal for a regulation
Recital 2 a (new)
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Text proposed by the Commission |
Amendment |
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(2a) In accordance with Article 7 of Regulation (EU) 2021/1057 , Member States should promote synergies and avoid duplications between actions arising for dedicated priorities referred to in Article 12c and actions resulting from other Union programmes that benefit the defence industry. |
Amendment 3
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 1 – subparagraph 1
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Text proposed by the Commission |
Amendment |
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In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes. |
In 2026, the Commission shall pay 4,5 % of the total support from the ESF+ as set out in the decision approving the programme amendment as additional one-off pre-financing. The one-off pre-financing percentage in 2026 shall be increased to 9,5% for programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine, provided the programme does not cover the entire territory of the Member State. Where, in a Member State, NUTS 2 regions bordering Russia, Belarus or Ukraine are included exclusively in programmes covering the entire territory of that Member State, the increased pre-financing set out in this paragraph shall apply to those programmes. NUTS 2 regions bordering Russia, Belarus or Ukraine require special attention and exceptional support as they are often at the frontline of potential conflicts and they are vulnerable to external threats, making it crucial to support their resilience in countering hybrid attacks, breaches of the Union’s external borders, terrorist activities and war. |
Amendment 4
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 1 – subparagraph 2
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Text proposed by the Commission |
Amendment |
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The additional pre-financing referred to in the first subparagraph of this paragraph shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d have been approved; provided that the request for a programme amendment is submitted by 31 December 2025. |
The additional pre-financing referred to in the first subparagraph of this paragraph shall only apply where reallocations of at least 5% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d have been approved; provided that the request for a programme amendment is submitted by 31 December 2025. |
Amendment 5
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 2
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Text proposed by the Commission |
Amendment |
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(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved. |
(2) By way of derogation from Article 63(2) and Article 105(2) of Regulation (EU) 2021/1060, the deadline for the eligibility of expenditure, the reimbursement of costs as well as for decommitment shall be 31 December 2030. That derogation shall only apply where programme amendments reallocating at least 5% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved. |
Amendment 6
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 2a (new)
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Text proposed by the Commission |
Amendment |
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(2a) The Member States shall work closely with social partners, when reprogramming, and respect working and employment conditions under applicable ILO conventions, Union and national law and collective agreements. |
Amendment 7
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Regulation (EU) 2021/1057
Article 5a – paragraph 3
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Text proposed by the Commission |
Amendment |
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(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 100 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. The derogation shall only apply where reallocations of at least 15% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved, provided that the programme amendment is submitted by 31 December 2025. |
(3) By way of derogation from Article 112 of Regulation (EU) 2021/1060, the maximum co-financing rate for priorities in programmes covering one or more NUTS2 regions bordering Russia, Belarus or Ukraine shall be 100 %. The higher co-financing rate shall not apply to programmes covering the entire territory of the Member State concerned, unless those regions are included only in programmes covering the entire territory of that Member State. The derogation shall only apply where reallocations of at least 5% of the financial resources of the programme to one or more dedicated priorities established in accordance with Articles 12a, 12c and 12d of this Regulation in the context of the mid-term review have been approved, provided that the programme amendment is submitted by 31 December 2025. |
Amendment 8
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12c – title
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Text proposed by the Commission |
Amendment |
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Support to the defence industry |
Support European defence industry and cybersecurity |
Amendment 9
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12c – paragraph 1
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Text proposed by the Commission |
Amendment |
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(1) Member States may decide to programme support to development of skills in the defence industry under dedicated priorities. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l). |
(1) Member States may decide to programme support to development of skills in the defence industry and related cybersecurity, as well as in skills related to civil defence and preparedness under dedicated priorities to meet urgent needs. Such dedicated priorities may support any of the specific objectives set out in Article 4(1), points (a) to (l). This support may include actions that promote the recognition of skills acquired during military service and facilitate their conversion into qualifications recognised on the civilian labour market. |
Amendment 10
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12c – paragraph 3 – subparagraph 1
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Text proposed by the Commission |
Amendment |
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In addition to the yearly pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, the Commission shall pay 30% of the allocation to the dedicated priorities referred to in paragraph 1 of this Article as set out in the decision approving the programme amendment as exceptional one-off pre-financing. |
In addition to the yearly pre-financing for the programme provided for in Article 90(1) and (2) of Regulation (EU) 2021/1060, the Commission shall pay 35% of the allocation to the dedicated priorities referred to in paragraph 1 of this Article as set out in the decision approving the programme amendment as exceptional one-off pre-financing. |
Amendment 11
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Regulation (EU) 2021/1057
Article 12c – paragraph 5a (new)
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Text proposed by the Commission |
Amendment |
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(5a) When allocating funds to dedicated priorities pursuant to paragraph 1, Member States shall ensure that those funds contribute to the Member States’ ability to address critical capability gaps set out in the White Paper for European Defence – Readiness 2030. |
ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT
The rapporteur for the opinion declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.
PROCEDURE – COMMITTEE ASKED FOR OPINION
|
Title |
Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges |
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References |
COM(2025)0164 – C10-0064/2025 – 2025/0085(COD) |
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Committee(s) responsible |
EMPL |
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Opinion by Date announced in plenary |
SEDE 5.5.2025 |
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Rapporteur for the opinion Date appointed |
Urmas Paet 14.5.2025 |
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Discussed in committee |
3.6.2025 |
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Date adopted |
16.6.2025 |
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Result of final vote |
+: –: 0: |
31 8 4 |
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Members present for the final vote |
Petras Auštrevičius, Wouter Beke, Marc Botenga, Tobias Cremer, Salvatore De Meo, Özlem Demirel, Elio Di Rupo, Michał Dworczyk, Alberico Gambino, Niclas Herbst, Costas Mavrides, Vangelis Meimarakis, Ana Catarina Mendes, Sven Mikser, Hans Neuhoff, Andrey Novakov, Kostas Papadakis, Nicolás Pascual de la Parte, Reinis Pozņaks, Marjan Šarec, Mārtiņš Staķis, Marie-Agnes Strack-Zimmermann, Michał Szczerba, Riho Terras, Pierre-Romain Thionnet, Mihai Tudose, Reinier Van Lanschot, Roberto Vannacci, Michael von der Schulenburg, Alexandr Vondra, Lucia Yar |
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Substitutes present for the final vote |
José Cepeda, Bart Groothuis, Marina Mesure, Thijs Reuten, Hélder Sousa Silva, Villy Søvndal, Petra Steger, Claudiu-Richard Târziu, Matej Tonin, Marta Wcisło |
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Members under Rule 216(7) present for the final vote |
Anna Bryłka, Tomasz Buczek |
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FINAL VOTE BY ROLL CALL
BY THE COMMITTEE ASKED FOR OPINION
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31 |
+ |
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ECR |
Michał Dworczyk, Alberico Gambino, Reinis Pozņaks, Claudiu-Richard Târziu, Alexandr Vondra |
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PPE |
Wouter Beke, Salvatore De Meo, Niclas Herbst, Vangelis Meimarakis, Andrey Novakov, Nicolás Pascual de la Parte, Hélder Sousa Silva, Michał Szczerba, Riho Terras, Matej Tonin, Marta Wcisło |
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PfE |
Pierre-Romain Thionnet |
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Renew |
Petras Auštrevičius, Bart Groothuis, Marjan Šarec, Marie-Agnes Strack-Zimmermann, Lucia Yar |
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S&D |
José Cepeda, Tobias Cremer, Elio Di Rupo, Costas Mavrides, Ana Catarina Mendes, Sven Mikser, Thijs Reuten, Mihai Tudose |
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Verts/ALE |
Mārtiņš Staķis |
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8 |
– |
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ESN |
Hans Neuhoff |
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NI |
Kostas Papadakis, Michael von der Schulenburg |
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PfE |
Petra Steger, Roberto Vannacci |
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The Left |
Marc Botenga, Özlem Demirel, Marina Mesure |
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4 |
0 |
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PfE |
Anna Bryłka, Tomasz Buczek |
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Verts/ALE |
Villy Søvndal, Reinier Van Lanschot |
Key to symbols:
+ : in favour
– : against
0 : abstention
Ms Li Andersson
Chair
Committee on Employment and Social Affairs
BRUSSELS
Subject: Opinion on Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges (2025/0085(COD) – COM(2025)0164 – C10-0064/2025)
Dear Ms Andersson,
Under the procedure referred to above, the Committee on Regional Development was asked to submit an opinion to your Committee.
At its meeting of 9 April 2025, REGI committee decided to send the opinion in the form of a letter. It discussed the matter at its meeting of 13 May 2025 and adopted the opinion at its meeting of 25 June 2025[8].
The Committee on Regional Development:
1. Underlines the crucial role that cohesion policy and sectoral programmes, in spite of the fact that they are not crisis management instruments, have repeatedly and efficiently played in helping regions to respond effectively to emergencies and asymmetric shocks such as the COVID-19 crisis, Brexit, the energy crisis and the refugee crisis caused by Russia’s invasion of Ukraine, as well as natural disasters;
2. Is aware of the rapidly evolving economic, societal, environmental and geopolitical context, as well as the housing crisis, and shares the need for more flexibility in assessing the extent to which cohesion policy programmes can help respond to these changes; nevertheless is of the firm opinion that the capacity to offer flexible responses to unpredictable challenges should not come at the expense of the clear long-term strategic focus and objectives of cohesion policy, in accordance with Article 174 TFEU;
3. Reiterates that ESF+ stands as positive example of EU solidarity and that its main objective is to support Member States and regions to achieve social inclusion, social cohesion, to activate the labour market and to deliver on the principles and the headline targets of the European Pillar of Social Rights that are far from met yet; stresses that the reprogramming of resources under the ESF+ should ensure that adjustment measures in response to strategic challenges do not undermine its social approach, but strengthen its capacity to combat inequality;
4. Underlines the fact that cohesion policy shall first and foremost ensure social cohesion, not defence spending; nonetheless acknowledges that flexibility of the policy from the point of view of the beneficiaries is a key point, and stresses the need to provide regions with greater flexibility already when programming the funding, in order to cater for their particular needs and specificities, particularly border regions; furthermore acknowledges that investment in defence capabilities through the development of skills and training, while safeguarding social standards, is already possible under the ESF+ established by Regulation (EU) 2021/1057;
5. Acknowledges that investment in defence capabilities and in adaptation linked to decarbonisation makes a key contribution to the promotion of the competitiveness, preparedness and strategic autonomy of the EU, and requires having people with the right skills; in general, recognises the importance of the development of skills through lifelong learning and training models, targeted in particular at young people not in education, employment and training (NEET) and unemployed people, and targeted also at teachers, trainers, mentors, coaches, as well as entrepreneurs and researchers; encourages in this regard private sector involvement to enhance skills development and labour market integration, ensuring that ESF+ investments translate into tangible economic benefits; calls for stronger partnerships between businesses, educational institutions, and regional authorities to align training programs with labour market demands, fostering innovation and job creation;
6. Stresses the strategic importance of strong external border regions for the security and resilience of the EU; welcomes the focus given by the legislative proposal to the challenges the Eastern border regions are facing since the Russian aggression against Ukraine began; supports the proposal that programmes under the Investment for jobs and growth goal, with NUTS 2 regions that have borders with Russia, Belarus or Ukraine, should benefit from the possibility of a one-off 9.5% pre-financing of the programme allocation in 2026 and a 100% Union financing;
7. Reaffirms that cohesion policy and ESF+ should reach all EU regions, especially those affected by transformation processes, while keeping a focus on least developed regions and people; stresses that cohesion policy should be deepened where possible, with a view to remain the EU’s main long-term investment instrument for reducing disparities, ensuring economic, social and territorial cohesion, and stimulating regional and local sustainable growth in line with EU strategies;
8. Reiterates the importance of compliance with horizontal enabling conditions, and stresses that funds suspended under Regulation 2020/2092 should not be subject to amended programmes or transfers;
9. Encourages the European Commission to allow for targeted simplification measures in Member States where administrative capacity constraints may hinder full or efficient absorption of ESF+ and cohesion funds, and to provide technical assistance to local and regional authorities to ensure efficient implementation and spending; furthermore stresses the importance of simplifying the rules and procedures to limit bureaucratic burden;
10. Believes that the ESF+ strengthens a pro-European identity in the entire EU and should be communicated as such and that local and regional authorities, in light of their role as both beneficiary and managing authority, as well as social partners shall be meaningfully involved in the formulation of new legislative proposals and in the revision of programmes pursuant to the mid-term review, in order to guarantee more effectiveness and coordination between the ESF+ and the broader cohesion and regional policy and its financing tools;
11. Suggests laying down measures to facilitate access for Outermost Regions to flexibilities introduced by the mid-term review, such as lowering to 10% the amounts of reallocations to one or more dedicated priorities established in the second subparagraph of Art. 5a(1), and in the first subparagraph of Art. 5a(2), which are required to benefit from the additional one-off pre-financing.
Yours sincerely,
Dragoş BENEA
ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT
The Chair declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.
|
Title |
Amending Regulation (EU) 2021/1057 establishing the European Social Fund + (ESF+) as regards specific measures to address strategic challenges |
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|
References |
COM(2025)0164 – C10-0064/2025 – 2025/0085(COD) |
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Date submitted to Parliament |
2.4.2025 |
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Committee(s) responsible Date announced in plenary |
EMPL 5.5.2025 |
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Committees asked for opinions Date announced in plenary |
SEDE 5.5.2025 |
BUDG 5.5.2025 |
ITRE 5.5.2025 |
REGI 5.5.2025 |
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Not delivering opinions Date of decision |
ITRE 9.4.2025 |
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Rapporteurs Date appointed |
Marit Maij 8.5.2025 |
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Simplified procedure – date of decision |
5.5.2025 |
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Budgetary assessment Date of budgetary assessment |
BUDG 16.6.2025 |
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Discussed in committee |
13.5.2025 |
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Date adopted |
25.6.2025 |
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Result of final vote |
+: –: 0: |
32 15 11 |
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Members present for the final vote |
Maravillas Abadía Jover, Grégory Allione, Marc Angel, Pascal Arimont, Konstantinos Arvanitis, Nikola Bartůšek, Gabriele Bischoff, Vilija Blinkevičiūtė, Rachel Blom, Andrzej Buła, David Casa, Estelle Ceulemans, Leila Chaibi, Per Clausen, Henrik Dahl, Johan Danielsson, Marie Dauchy, Mélanie Disdier, Elena Donazzan, Gheorghe Falcă, Chiara Gemma, Niels Geuking, Isilda Gomes, Alicia Homs Ginel, Sérgio Humberto, Katrin Langensiepen, Miriam Lexmann, Marit Maij, Marlena Maląg, Jagna Marczułajtis-Walczak, Idoia Mendia, Maria Ohisalo, Branislav Ondruš, Aodhán Ó Ríordáin, Nicola Procaccini, Dennis Radtke, Nela Riehl, Liesbet Sommen, Villy Søvndal, Pál Szekeres, Georgiana Teodorescu, Jana Toom, Raffaele Topo, Francesco Torselli, Brigitte van den Berg, Marie-Pierre Vedrenne, Marianne Vind, Mariateresa Vivaldini, Petar Volgin, Jan-Peter Warnke, Séverine Werbrouck |
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Substitutes present for the final vote |
Regina Doherty, Rosa Estaràs Ferragut, Kathleen Funchion, Rudi Kennes, Hristo Petrov |
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Members under Rule 216(7) present for the final vote |
Mireia Borrás Pabón, Paulo Do Nascimento Cabral |
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Date tabled |
30.6.2025 |
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|
32 |
+ |
|
ECR |
Georgiana Teodorescu |
|
PPE |
Maravillas Abadía Jover, Pascal Arimont, Andrzej Buła, David Casa, Henrik Dahl, Regina Doherty, Paulo Do Nascimento Cabral, Rosa Estaràs Ferragut, Gheorghe Falcă, Niels Geuking, Sérgio Humberto, Jagna Marczułajtis-Walczak, Dennis Radtke, Liesbet Sommen |
|
Renew |
Grégory Allione, Hristo Petrov, Jana Toom, Brigitte van den Berg, Marie-Pierre Vedrenne |
|
S&D |
Marc Angel, Gabriele Bischoff, Vilija Blinkevičiūtė, Estelle Ceulemans, Johan Danielsson, Isilda Gomes, Alicia Homs Ginel, Marit Maij, Idoia Mendia, Aodhán Ó Ríordáin, Raffaele Topo, Marianne Vind |
|
15 |
– |
|
ESN |
Petar Volgin |
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NI |
Branislav Ondruš, Jan-Peter Warnke |
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PfE |
Nikola Bartůšek, Rachel Blom, Mireia Borrás Pabón, Marie Dauchy, Mélanie Disdier, Pál Szekeres, Séverine Werbrouck |
|
The Left |
Konstantinos Arvanitis, Leila Chaibi, Per Clausen, Kathleen Funchion, Rudi Kennes |
|
11 |
0 |
|
ECR |
Elena Donazzan, Chiara Gemma, Marlena Maląg, Nicola Procaccini, Francesco Torselli, Mariateresa Vivaldini |
|
PPE |
Miriam Lexmann |
|
Verts/ALE |
Katrin Langensiepen, Maria Ohisalo, Nela Riehl, Villy Søvndal |
Key to symbols:
+ : in favour
– : against
0 : abstention
Source: GlobeNewswire (MIL-OSI)
Amsterdam, July 1st, 2025 – Virtune AB, the Swedish regulated crypto asset manager, today announced the listing of Virtune Coinbase 50 Index ETP (VCOIN50) on Euronext Amsterdam. The exchange-traded product (ETP) is now available to investors in the Netherlands through brokers and banks such as Degiro.
Virtune has experienced sustained demand for digital assets from both institutional and retail investors across the Nordic and European regions since the launch of its first ETP around two years ago, earning the trust of over 140,000 investors. Building on this momentum, the VCOIN50 ETP – which was also listed on Xetra on June 2 – now marks another key milestone with its listing on Euronext Amsterdam (Euronext ticker: VRTC), further advancing Virtune’s expansion into the European market. Coinbase is serving as the custodian for VCOIN50.
Virtune has made history as the first company to list a crypto Exchange Traded Product (ETP) tracking the Coinbase 50 Europe index, developed by Coinbase, a trusted and global leader in crypto services and administered by MarketVector IndexesTM (“MarketVector”), a leading global index provider.
This ETP represents several key firsts for European financial markets:
About Virtune Coinbase 50 Index ETP:
Virtune Coinbase 50 Index ETP is a physically-backed exchange-traded product (ETP) tracking the Coinbase 50 Europe Index, the premier global benchmark index for digital assets. Currently, VCOIN50 ETP offers exposure to 21 crypto assets that are compliant with market-specific regulatory and exchange-specific policies. Virtune’s expansion to include all 50 assets in the COIN50 is subject to regulatory and stock exchange approvals. The ETP provides exposure to up to 50 leading crypto assets and is rebalanced quarterly. The product features a transparent structure backed by physical holdings and secured with institutional-level solutions.
Allocation as of 30th of June 2025:
https://www.virtune.com/product/vcoin50
About Virtune:
Virtune is a Swedish-regulated crypto asset manager and issuer of 100% physically backed crypto ETPs. The company has experienced rapid growth in the Nordics since listing its first crypto ETP on Nasdaq Stockholm in May 2023. Today, Virtune manages $340 million in assets under management and has earned the trust of over 140,000 institutional and retail investors. Since its inception, Virtune has prioritized investor protection, and its success stems from its transparent, regulated approach and strong commitment to innovation and educating the market about crypto assets and ETPs.
Christopher Kock, CEO of Virtune:
“We have worked closely with Coinbase since our inception, leveraging their industry-leading custody, trading, and staking services across all our ETPs. Following the successful launch of the COIN50 ETP, we are proud to now bring this product to a broader European audience through its cross-listing on Euronext Amsterdam. COIN50, designed as the crypto market’s equivalent of the S&P 500, aims to become the leading global crypto benchmark. This ETP provides both institutional and retail investors with diversified exposure to the crypto market – crafted by industry experts with deep experience and insight.”
About Coinbase:
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
Brett Tejpaul, Head of Coinbase Institutional:
“With the launch of the Virtune Coinbase 50 Index ETP in Europe, we’re making one of the most comprehensive benchmarks for the crypto market directly accessible to investors across the EU. This marks a major step forward in our mission to expand global access to digital assets and provide institutional-grade tools for navigating this evolving asset class. The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy.”
About MarketVector:
MarketVector IndexesTM (“MarketVector”) is a regulated Benchmark Administrator in Europe, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector maintains indexes under the MarketVectorTM, MVIS®, and BlueStar® names. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange-Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than USD 57 billion in assets under management.
Martin Leinweber, Director, Digital Asset Research and Strategy, MarketVector:
“The Virtune Coinbase 50 Index ETP marks a significant step forward for crypto investment in Europe, offering broad, institutional-grade exposure to digital assets through a single, efficient product. This milestone combines MarketVector’s index expertise, Coinbase’s market infrastructure, and Virtune’s transparent, regulated approach. We’re proud to deepen our partnership with Virtune by becoming the index provider for their entire range of crypto ETPs across Europe. Together, we’re delivering the tools institutional and retail investors need to navigate the digital asset landscape with greater confidence and clarity.”
Key Information about the Product:
For questions, contact:
Christopher Kock, CEO & Member of the Board of Directors
Mobile: +46 70 073 45 64
Email: christopher@virtune.com
About Virtune AB (Publ):
Headquartered in Stockholm, Virtune is a regulated Swedish digital asset manager and issuer of crypto ETPs listed on regulated European exchanges. With strong regulatory foundations, partnerships with industry leaders, and a skilled team, Virtune delivers innovative and compliant investment products aligned with the evolving global crypto landscape.
Crypto investments are associated with high risk. Virtune does not provide investment advice; investments are made at your own risk. Securities may increase or decrease in value, there is no guarantee of getting back invested capital. Read the prospectus, KID, terms at virtune.com.
The Coinbase 50 Europe Index (“Index”) is the exclusive property of MarketVector Indexes GmbH (“MarketVector”) and its Licensors and has been licensed for use by Virtune AB (Publ) (“Licensee”). MarketVector has contracted with CC Data Limited to maintain and calculate the Index. CC Data Limited uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MarketVector, CC Data Limited has no obligation to point out errors in the Index to third parties. In particular, MarketVector is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on the Virtune Coinbase 50 Europe ETP (“Product”) or not, are not sponsored, endorsed, sold, or promoted by MarketVector and any of its affiliates, and MarketVector and any of its affiliates make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MARKETVECTOR AND ANY OF ITS AFFILIATES AND ANY OF ITS LICENSORS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO LICENSEE.
Source: European Central Bank
1 July 2025
The ECB’s Governing Council has approved a plan that will enable settling distributed ledger technology (DLT) transactions using central bank money. The initiative follows a two-track approach: the first track “Pontes” provides a short-term offering to the market – including a pilot phase – and the second track “Appia” focuses on a potential long-term solution. The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures.
Pontes will offer a Eurosystem DLT-based solution, linking DLT platforms and TARGET Services to settle transactions in central bank money. The Eurosystem plans to launch a pilot for Pontes by the end of the third quarter of 2026. It will offer a single Eurosystem solution which incorporates features used in the Eurosystem’s exploratory work on DLT in 2024. During the pilot, the Eurosystem will also explore the feasibility of further enhancements in line with the TARGET Services operational, legal and technical standards. Between now and the launch of the Pontes pilot, the Eurosystem will consider requests for further DLT-related trials and experiments.
Appia focuses on a long-term approach for an innovative and integrated ecosystem in Europe that also facilitates safe and efficient operations at the global level. The Eurosystem will actively continue to analyse DLT-based solutions and collaborate with public and private stakeholders.
To ensure continuous dialogue with the market, the Eurosystem will establish dedicated market contact groups for both Pontes and Appia. A call for expressions of interest in participating in the Pontes contact group will be published soon.
Pontes and Appia will build on the Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement, which was conducted between May and November 2024. In this exploratory work, 64 participants conducted over 50 trials and experiments. A dedicated report outlining the results of the exploratory work has been published today.
For media queries, please contact Alessandro Speciale, tel.: +49 172 1670791.
Source: The Conversation (Au and NZ) – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne
Hopes are rising that Israel and Hamas could be inching closer to a ceasefire in the 20-month war in Gaza.
US President Donald Trump is urging progress, taking to social media to demand:
MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!
Trump further raised expectations, saying there could be an agreement between Israel and Hamas “within the next week”.
But what are the prospects for a genuine, lasting ceasefire in Gaza?
Ceasefires are generally complicated to negotiate because they need to take into account competing demands and pressures. They usually (but not always) require both sides to compromise.
Gaza is no exception. In a conflict that has been going on for more than 70 years, compromise and concession have become a game of cat and mouse.
Israel is the cat that holds the military strength and the majority of the political power. Hamas is the mouse that can dart and delay, but in the end has little choice but to accept the terms of a ceasefire if it wants to halt the violence currently being inflicted on Palestinians.
Trump appears buoyed by what he perceives as the recent success of his efforts to broker a truce in the Israel–Iran war. He may think he can use similar tactics to pressure Israeli Prime Minister Benjamin Netanyahu into making a ceasefire deal for Gaza.
Netanyahu will return to Washington next week for talks at the White House. This is a good sign some US pressure is being brought to bear.
Trump’s current push for a Gaza ceasefire may also signal he is keen for a return to the normalisation of economic ties previously delivered by the Abraham Accords between Israel and various Arab states. A ceasefire could unlock frozen regional relationships, potentially boosting the US economy (and Trump’s own personal wealth).
Another positive sign a ceasefire may be on the cards is Netanyahu’s recent comments that the war with Iran had created opportunities for Israel in Gaza.
During its 12-day war with Iran, Israel assassinated 30 Iranian security chiefs and 11 nuclear scientists. Iran’s weakened security apparatus might disrupt its support for Hamas and help advance Israeli objectives.
Similar to what happened in Iran, this might enable Netanyahu to publicly declare Israeli victory in Gaza and agree to a ceasefire without losing face or political backing from his government’s right wing.
Domestic Israeli politics have also played a role in the Gaza ceasefire negotiations. As part of the current round, Trump reportedly demanded the cancellation of Netanyahu’s ongoing trial on corruption charges. The idea is to enable Netanyahu to reach a ceasefire without the threat of criminal conviction, and potentially prison, awaiting him afterwards.
Given there are no political or legal prescriptions or rules around what terms need to be included in a ceasefire, it is possible for such a demand to be made, although it is unclear how it would be accommodated by Israeli law.
The current ceasefire deal, as proposed by Qatar and Egypt, seems to pick up where the deal negotiated in January fell apart – with a 60-day ceasefire.
Reports suggest it requires Hamas’ leadership to go into exile and that four Arab states, including the United Arab Emirates and Egypt, would be tasked with jointly governing Gaza.
Hamas has said for many months that it is open to a
more permanent ceasefire deal that Israel has so far refused. However, the proposed terms appear too far-reaching to make it likely Hamas would accept them in their current form.
The uptick in Israel’s military bombardment, as well as recent evacuation orders for parts of northern Gaza, suggest that even if there is a deal it may well mean Israel retains permanent territorial control of the northern Gaza Strip.
As part of any ceasefire, it also seems likely Israel would retain control over all Gaza crossings.
This, and the ongoing highly problematic promotion by Israel and the United States of the Gaza Humanitarian Foundation as the only organisation authorised to deliver and administer aid in Gaza, will be difficult for Hamas, and Palestinians, to accept.
There have also been reports a deal would enable Gazans wishing to emigrate to be absorbed by several as-yet-unnamed countries. Such a term would continue the Trump administration’s earlier calls for the forced displacement of Palestinians from Gaza, as well as Israel’s insistence such displacement would be a humanitarian initiative rather than a war crime.
It would also not be the first time the terms of a ceasefire were used to forcibly displace civilian populations.
Many dynamics are wrapped up in getting to a ceasefire in Gaza.
They include US allyship and pressure, domestic Israeli politics, and the recent war between Israel and Iran. There is also the international opprobrium of Israel’s actions in Gaza which, for public (if not legal) purposes, amount to a genocide.
Ideally, any negotiated ceasefire would have detailed terms to ensure the parties know what they should do and when. Detailed terms would also enable international actors and other third parties to denounce any violations of the deal.
However, a ceasefire would only ever be a short-term win. In the best case, it would enable a reduction in violence and an increase of aid into Gaza, and the release of Israeli hostages and Palestinian prisoners.
However, amid the deep-seated sense of injustice and anxiety in the region, any ceasefire that does not address historic oppression and is forced on the parties would inevitably have deleterious consequences in the months and years to come.
Marika Sosnowski does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Trump demands an end to the war in Gaza – could a ceasefire be close? – https://theconversation.com/trump-demands-an-end-to-the-war-in-gaza-could-a-ceasefire-be-close-260185
Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
SEVILLE, Spain, July 1 (Xinhua) — Spanish Prime Minister Pedro Sanchez on Monday called for inclusive and strong multilateralism at the opening of the fourth International Conference on Financing for Development here in southern Spain.
P. Sanchez, who is also the conference chair, said that in the current global context, inclusive and strong multilateralism is especially needed and the UN should be at its core.
He called on delegates to translate slogans into action, resolve differences through unity and build trust through dialogue.
Noting that two-thirds of the UN Sustainable Development Goals were behind schedule, UN Secretary-General António Guterres said at the opening of the session that the conference would take action in three areas – accelerating the flow of funds, reforming the international debt system and increasing the participation of developing countries in the institutions of the international financial system.
The conference, dedicated to global development finance, will run until Thursday and will bring together representatives from governments, international organizations, financial institutions, businesses and other entities. –0–
Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
ANKARA, July 1 (Xinhua) — Turkish Foreign Minister Hakan Fidan here on Monday hailed “intensive cooperation” with Britain and called for further expansion of bilateral trade.
During a joint press conference with British Foreign Secretary David Lammy, he spoke about interstate cooperation in the areas of economics, defense and technology.
The minister praised Britain’s supportive stance on issues such as the conflicts in Gaza, Syria, other parts of the Middle East and Ukraine, and welcomed London’s recent decision to lift some sanctions on Syria.
H. Fidan stressed that ensuring a ceasefire, especially between Iran and Israel, as well as in the Gaza Strip, remains one of Ankara’s top strategic priorities.
The annual trade turnover between Turkey and Great Britain has reached almost 30 billion US dollars, and both sides are striving to further expand economic ties, the minister noted.
Mr Lammy highlighted the strength of Turkish-British relations, pointing to a potential free trade agreement that could bring mutual economic benefits of up to £28 billion (US$38.36 billion).
“We look forward to negotiations on the Free Trade Agreement in the coming weeks and months,” he said.
The Foreign Minister also praised Turkey’s efforts to promote peace in the Russian-Ukrainian conflict and stressed that both countries are working to ease the humanitarian crisis in Gaza and implement the principle of “two states for two peoples” for the Palestinians. –0–
Source: GlobeNewswire (MIL-OSI)
INVL Asset Management, the leading alternative asset manager in the Baltics, raised EUR 35.43 million for investments in funds managed by 17Capital which provides financing to the world’s largest private equity managers, investors, and funds. This success in attracting investor funds further solidifies the Invalda INVL group’s leading position in the Baltic private debt market.
“The private debt market is experiencing rapid growth globally, and the Baltic region is no exception. Private debt is emerging as an important alternative to traditional financing, while also serving as a valuable tool for portfolio diversification. We appreciate the trust our investors place in us and their decision to leverage the access we provide to globally diversified private debt funds managed by an experienced team. To date, our group has attracted over EUR 75 million to this asset class, reinforcing our leading position in the,” says Justas Riauba, Invalda INVL’s Group Chief Investment Officer.
A private debt fund INVL Bridge Finance, which had more than EUR 40 million of assets under management at the end of May this year, is also a part of the Invalda INVL group.
INVL Partner Strategic Lending funds were distributed to the Baltic investors by the financial brokerage firm INVL Financial Advisors, which operates in Lithuania under the INVL Family Office brand.
“Retail and institutional investors in the Baltic countries are showing strong and growing interest in private debt solutions as an important component of a diversified portfolio. The successful distribution of these funds through the INVL Family Office reflects increasing confidence in structured, institutional-grade products and highlights the growing maturity of investors when it comes to selecting alternative investment solutions,” says Asta Jovaišienė, who heads the INVL Family Office.
Launched this year, the INVL Partner Strategic Lending funds invest in funds managed by 17Capital, a private credit manager active in North America and Europe. The strategy of that world-class specialised manager’s funds is to lend to the world’s best known private equity funds, managers and management companies against the net asset value (NAV) of their private equity portfolios or the management companies’ investments, as well as to the participants of such funds.
The minimum investment in the funds for informed investors is EUR 125,000 or, if investments are made in US dollars, USD 145,000. The INVL Partner Strategic Lending funds target an expected net average annual investment return of more than 10%. The anticipated duration of the funds is 7 years.
Founded in 2008, 17Capital operates primarily from London and New York. The company has completed more than 100 investments and more than 50 exits and since its inception has raised more than USD 13 billion.
About INVL Asset Management
INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.
We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision more than EUR 1.9 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.
The person for additional information:
Justas Riauba, Invalda INVL Group Chief Investment Officer
Justas.Riauba@invl.com
Source: GlobeNewswire (MIL-OSI)
INVL Asset Management, the leading alternative asset manager in the Baltics, raised EUR 35.43 million for investments in funds managed by 17Capital which provides financing to the world’s largest private equity managers, investors, and funds. This success in attracting investor funds further solidifies the Invalda INVL group’s leading position in the Baltic private debt market.
“The private debt market is experiencing rapid growth globally, and the Baltic region is no exception. Private debt is emerging as an important alternative to traditional financing, while also serving as a valuable tool for portfolio diversification. We appreciate the trust our investors place in us and their decision to leverage the access we provide to globally diversified private debt funds managed by an experienced team. To date, our group has attracted over EUR 75 million to this asset class, reinforcing our leading position in the,” says Justas Riauba, Invalda INVL’s Group Chief Investment Officer.
A private debt fund INVL Bridge Finance, which had more than EUR 40 million of assets under management at the end of May this year, is also a part of the Invalda INVL group.
INVL Partner Strategic Lending funds were distributed to the Baltic investors by the financial brokerage firm INVL Financial Advisors, which operates in Lithuania under the INVL Family Office brand.
“Retail and institutional investors in the Baltic countries are showing strong and growing interest in private debt solutions as an important component of a diversified portfolio. The successful distribution of these funds through the INVL Family Office reflects increasing confidence in structured, institutional-grade products and highlights the growing maturity of investors when it comes to selecting alternative investment solutions,” says Asta Jovaišienė, who heads the INVL Family Office.
Launched this year, the INVL Partner Strategic Lending funds invest in funds managed by 17Capital, a private credit manager active in North America and Europe. The strategy of that world-class specialised manager’s funds is to lend to the world’s best known private equity funds, managers and management companies against the net asset value (NAV) of their private equity portfolios or the management companies’ investments, as well as to the participants of such funds.
The minimum investment in the funds for informed investors is EUR 125,000 or, if investments are made in US dollars, USD 145,000. The INVL Partner Strategic Lending funds target an expected net average annual investment return of more than 10%. The anticipated duration of the funds is 7 years.
Founded in 2008, 17Capital operates primarily from London and New York. The company has completed more than 100 investments and more than 50 exits and since its inception has raised more than USD 13 billion.
About INVL Asset Management
INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development.
We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision more than EUR 1.9 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.
The person for additional information:
Justas Riauba, Invalda INVL Group Chief Investment Officer
Justas.Riauba@invl.com
Source: The Conversation (Au and NZ) – By Peter Draper, Professor, and Executive Director: Institute for International Trade, and Director of the Jean Monnet Centre of Trade and Environment, University of Adelaide
US President Donald Trump’s 90-day pause on implementing so-called “reciprocal” tariffs on some 180 trading partners ends on July 8.
How are countries responding to the threat, and will the tariffs be re-applied from July 9?
The United States is demanding four things from all trading partners, while offering little in return. So these negotiations are anything but “reciprocal”.
The main demand is to rebalance bilateral goods trade between the US and other countries. Nations with trade surpluses – meaning they export a greater value of goods than they import from the US – will be encouraged to import more from the US and/or export less to it.
The US is also pushing countries to eliminate a range of “non-tariff barriers” that may affect US export competitiveness. These barriers are drawn from the United States Trade Representative’s (USTR) March 2025 report and include a variety of perceived “unfair” practices, from value-added taxes (such as the Goods and Services Tax) to biosecurity standards such as those Australia applies to agricultural imports.
In a nod to the “tech bros”, (alleged) restrictions on digital trade services, such as Australia’s media bargaining code, and digital service taxes must be removed, along with taxes on the tech giants. On Monday, Canada dropped a new digital service tax on firms such as Google and Meta after Trump suspended trade talks.
Countries must also agree to reduce reliance on inputs from China in any exports to the United States. That means companies that moved manufacturing from China to countries such as Vietnam during President Trump’s first term trade wars will face challenges in sourcing input components from China.
Put together, this is a difficult package for any government to accept without securing something in return.
Trump has been fond of saying the United States holds “all the cards” in trade negotiations.
It’s not known precisely how many countries are negotiating bilateral deals with Washington. Between 10 and 18 countries are priority “targets”, or to use an early, colourful phrase, were targeted as the “Dirty 15”.
Category 1 likely comprises many more countries than those in the US’s naughty corner. These countries were saddled with large reciprocal tariffs despite the tariff formula’s evident shortcomings. To paraphrase Trump, these countries don’t hold the cards and have limited negotiating power.
They have no choice but to make concessions. The smarter ones will take the opportunity to make reforms and blame the bully in Washington. Mostly these are developing countries, some with high dependency on the US market, including the poorest such as Bangladesh, Cambodia, and Lesotho.
To make matters worse, they must keep one eye on China for fear of retribution in case Beijing perceives any promises to reduce dependence on Chinese inputs would compromise Chinese interests.
Category 2 consists of countries that “hold cards”, or have some degree of leverage. Some, such as Canada, Japan, India and the EU, will secure limited US concessions although they may resort to retaliation to force this outcome. From discussions with our government and academic sources, Japan and India likely won’t retaliate, but Canada has previously and the EU likely will.
Australia’s Prime Minister Anthony Albanese initially said he would not negotiate and has repeated US reciprocal tariffs “are not the act of a friend”.
However, the Australian government is wisely looking to bolster its negotiation cards, such as creating a critical minerals strategic reserve.
No doubt policy makers are also reminding the US of their favourable access to Australia’s military infrastructure which could be essential to any US-China military confrontation.
China is category 3.
The Chinese government is determined not to kowtow to Washington as they did in Trump’s first term. The so-called “Phase 1 deal” was signed but instantly forgotten in Beijing.
Beijing has several cards, notably dominance of processed critical minerals and their derivative products, particularly magnets, and the US’s lack of short-term alternative supply options.
After China expanded export controls on rare earths and critical minerals, shortages hit the auto industry around the world and Ford was forced to idle plants.
Kevin Hassett, director of the National Economic Council, suggested on Friday more deals may be signed before July 8. But Trump is likely to undermine and/or negate them as his transactional whims change.
The British, after announcing their US deal that included relatively favourable automotive and steel export market access, watched in horror as Trump doubled tariffs on steel imports to 50%, and reimposed the 25% tariff on the UK.
The UK government was reminded this US administration cannot be trusted. That is why countries negotiate binding trade treaties governed by domestic and international laws.
Many countries are waiting on the outcomes from various US court battles testing whether the president or Congress should have the power to impose unilateral tariffs. After all, if there is a chance the Supreme Court rules Trump cannot change tariffs by decree, then why negotiate with a serially untrustworthy partner?
The Japanese government, for example, recently announced it is pausing negotiations after the US demanded increased defence spending.
Trump on Sunday suggested he would simply send letters to foreign nations setting a tariff rate. “I’m going to send letters, that’s the end of the trade deal,” he said.
That does not bode well for countries negotiating in good faith. It’s likely tariffs will be reimposed and bilateral negotiations will drag on to September or beyond as Treasury Secretary Scott Bessent has said.
After all, even the US government has limited bandwidth to process so many simultaneous negotiations. Category 2 trading partners will increasingly test their own political limits. And the rest of the world is hoping for a favourable Supreme Court ruling that may, like the character Godot in the play Waiting for Godot, never come.
Nathan Gray receives funding from the Department of Foreign Affairs and Trade.
Kumuthini Sivathas and Peter Draper do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
– ref. ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming – https://theconversation.com/im-going-to-send-letters-the-deadline-for-trumps-reciprocal-trade-tariffs-is-looming-259983
Source: The Conversation (Au and NZ) – By Peter Draper, Professor, and Executive Director: Institute for International Trade, and Director of the Jean Monnet Centre of Trade and Environment, University of Adelaide
US President Donald Trump’s 90-day pause on implementing so-called “reciprocal” tariffs on some 180 trading partners ends on July 8.
How are countries responding to the threat, and will the tariffs be re-applied from July 9?
The United States is demanding four things from all trading partners, while offering little in return. So these negotiations are anything but “reciprocal”.
The main demand is to rebalance bilateral goods trade between the US and other countries. Nations with trade surpluses – meaning they export a greater value of goods than they import from the US – will be encouraged to import more from the US and/or export less to it.
The US is also pushing countries to eliminate a range of “non-tariff barriers” that may affect US export competitiveness. These barriers are drawn from the United States Trade Representative’s (USTR) March 2025 report and include a variety of perceived “unfair” practices, from value-added taxes (such as the Goods and Services Tax) to biosecurity standards such as those Australia applies to agricultural imports.
In a nod to the “tech bros”, (alleged) restrictions on digital trade services, such as Australia’s media bargaining code, and digital service taxes must be removed, along with taxes on the tech giants. On Monday, Canada dropped a new digital service tax on firms such as Google and Meta after Trump suspended trade talks.
Countries must also agree to reduce reliance on inputs from China in any exports to the United States. That means companies that moved manufacturing from China to countries such as Vietnam during President Trump’s first term trade wars will face challenges in sourcing input components from China.
Put together, this is a difficult package for any government to accept without securing something in return.
Trump has been fond of saying the United States holds “all the cards” in trade negotiations.
It’s not known precisely how many countries are negotiating bilateral deals with Washington. Between 10 and 18 countries are priority “targets”, or to use an early, colourful phrase, were targeted as the “Dirty 15”.
Category 1 likely comprises many more countries than those in the US’s naughty corner. These countries were saddled with large reciprocal tariffs despite the tariff formula’s evident shortcomings. To paraphrase Trump, these countries don’t hold the cards and have limited negotiating power.
They have no choice but to make concessions. The smarter ones will take the opportunity to make reforms and blame the bully in Washington. Mostly these are developing countries, some with high dependency on the US market, including the poorest such as Bangladesh, Cambodia, and Lesotho.
To make matters worse, they must keep one eye on China for fear of retribution in case Beijing perceives any promises to reduce dependence on Chinese inputs would compromise Chinese interests.
Category 2 consists of countries that “hold cards”, or have some degree of leverage. Some, such as Canada, Japan, India and the EU, will secure limited US concessions although they may resort to retaliation to force this outcome. From discussions with our government and academic sources, Japan and India likely won’t retaliate, but Canada has previously and the EU likely will.
Australia’s Prime Minister Anthony Albanese initially said he would not negotiate and has repeated US reciprocal tariffs “are not the act of a friend”.
However, the Australian government is wisely looking to bolster its negotiation cards, such as creating a critical minerals strategic reserve.
No doubt policy makers are also reminding the US of their favourable access to Australia’s military infrastructure which could be essential to any US-China military confrontation.
China is category 3.
The Chinese government is determined not to kowtow to Washington as they did in Trump’s first term. The so-called “Phase 1 deal” was signed but instantly forgotten in Beijing.
Beijing has several cards, notably dominance of processed critical minerals and their derivative products, particularly magnets, and the US’s lack of short-term alternative supply options.
After China expanded export controls on rare earths and critical minerals, shortages hit the auto industry around the world and Ford was forced to idle plants.
Kevin Hassett, director of the National Economic Council, suggested on Friday more deals may be signed before July 8. But Trump is likely to undermine and/or negate them as his transactional whims change.
The British, after announcing their US deal that included relatively favourable automotive and steel export market access, watched in horror as Trump doubled tariffs on steel imports to 50%, and reimposed the 25% tariff on the UK.
The UK government was reminded this US administration cannot be trusted. That is why countries negotiate binding trade treaties governed by domestic and international laws.
Many countries are waiting on the outcomes from various US court battles testing whether the president or Congress should have the power to impose unilateral tariffs. After all, if there is a chance the Supreme Court rules Trump cannot change tariffs by decree, then why negotiate with a serially untrustworthy partner?
The Japanese government, for example, recently announced it is pausing negotiations after the US demanded increased defence spending.
Trump on Sunday suggested he would simply send letters to foreign nations setting a tariff rate. “I’m going to send letters, that’s the end of the trade deal,” he said.
That does not bode well for countries negotiating in good faith. It’s likely tariffs will be reimposed and bilateral negotiations will drag on to September or beyond as Treasury Secretary Scott Bessent has said.
After all, even the US government has limited bandwidth to process so many simultaneous negotiations. Category 2 trading partners will increasingly test their own political limits. And the rest of the world is hoping for a favourable Supreme Court ruling that may, like the character Godot in the play Waiting for Godot, never come.
Nathan Gray receives funding from the Department of Foreign Affairs and Trade.
Kumuthini Sivathas and Peter Draper do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
– ref. ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming – https://theconversation.com/im-going-to-send-letters-the-deadline-for-trumps-reciprocal-trade-tariffs-is-looming-259983
Source: The Conversation (Au and NZ) – By Kelly Lambert, Associate Professor Nutrition and Dietetics, University of Wollongong
On Tuesday, some Australian university students got access to a new payment. The Commonwealth Prac Payment is available to eligible teaching, nursing, midwifery and social work students.
It will provide A$331.65 a week during compulsory professional placements, to help with living and study expenses. This could include travel, accommodation, uniforms and lost income from other employment.
But while the payment is a much-needed step in the right direction, many students are still missing out.
The prac payment was a recommendation from the federal government’s 2024 Universities Accord review. It is designed to help students complete essential professional placements, so they can graduate and enter the workforce.
But numerous other health degrees with time-consuming work placements are excluded from the payment.
This includes medicine, physiotherapy, dietetics, psychology, radiography and other allied health professions. Veterinary medicine students are also ineligible. Many of these professions are also experiencing serious workforce shortages.
The payment is also only available to teaching, nursing and social work students who already qualify for Ausstudy (the income support payment for students and apprentices who are 25 and over).
So this means the prac payment is means tested. It is also considered taxable income and paid at the rate of Austudy – which is not generous. The basic Austudy rate is below the national poverty line.
The payment is also only available to Australian domestic students, even though many international heath students end up working in the Australian health system after graduating.
Researchers, including ourselves, use the term “placement poverty” to describe the impact mandatory placements can have on students. It can be a major barrier to students completing their degrees.
Students have repeatedly described widespread impacts of doing up to 1,000 hours of unpaid work to graduate – taking a toll on their income and mental health.
Kelly Lambert’s 2024 research suggests health and teaching students can incur a further $12,500–15,000 to the cost of degrees during unpaid placements.
Students have explained the placement hours mean they can’t work in their regular paid casual or part-time jobs – and may lose this work as a result.
In the short term, if students are not supported to complete their placements, they may not have enough money for food or accommodation.
Our research found 29% of teaching and allied health students regularly skip meals while on placement. Some students also described sleeping in cars or driving excessive distances due to limited or expensive accommodation options near their placements.
If students are not supported in their placements, research suggests they can experience burnout and may not finish their degrees. Or they may not even begin them in the first place.
This is particularly the case for students from regional or rural communities (who may have further to travel), students with parenting or caring responsibilities, and students from low economic and otherwise disadvantaged backgrounds.
We also know its important to support students to do placements in rural, regional and remote areas – students who complete placements in these communities are more likely to return and work in those communities.
As a first measure, the government should expand eligibility criteria for the current payment to include other health disciplines and those who don’t currently meet the means testing threshold.
Research tells us financial hardship is not confined to students who qualify for Austudy, it is experienced across the board.
Students have also suggested interest-free short-term loans, subsidised parking (similar to hospital employees), and greater transparency about the costs associated with unpaid placements. International students have also said public transport subsidies would help them complete their placements.
Other, more significant changes could include apprenticeship-type compensation models for healthcare students, where students get paid to study as part of their training. These schemes are already available in Scotland.
Ultimately, we want to support more students to do health and teaching degrees to fill workforce gaps – not discourage them with high costs of studying.
Kelly Lambert has received funding from the Australian Centre for Student Equity and Success.
Scott William does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. A new ‘prac payment’ has just kicked in. But it ignores many uni students – https://theconversation.com/a-new-prac-payment-has-just-kicked-in-but-it-ignores-many-uni-students-260087
Source: The Conversation (Au and NZ) – By Kelly Lambert, Associate Professor Nutrition and Dietetics, University of Wollongong
On Tuesday, some Australian university students got access to a new payment. The Commonwealth Prac Payment is available to eligible teaching, nursing, midwifery and social work students.
It will provide A$331.65 a week during compulsory professional placements, to help with living and study expenses. This could include travel, accommodation, uniforms and lost income from other employment.
But while the payment is a much-needed step in the right direction, many students are still missing out.
The prac payment was a recommendation from the federal government’s 2024 Universities Accord review. It is designed to help students complete essential professional placements, so they can graduate and enter the workforce.
But numerous other health degrees with time-consuming work placements are excluded from the payment.
This includes medicine, physiotherapy, dietetics, psychology, radiography and other allied health professions. Veterinary medicine students are also ineligible. Many of these professions are also experiencing serious workforce shortages.
The payment is also only available to teaching, nursing and social work students who already qualify for Ausstudy (the income support payment for students and apprentices who are 25 and over).
So this means the prac payment is means tested. It is also considered taxable income and paid at the rate of Austudy – which is not generous. The basic Austudy rate is below the national poverty line.
The payment is also only available to Australian domestic students, even though many international heath students end up working in the Australian health system after graduating.
Researchers, including ourselves, use the term “placement poverty” to describe the impact mandatory placements can have on students. It can be a major barrier to students completing their degrees.
Students have repeatedly described widespread impacts of doing up to 1,000 hours of unpaid work to graduate – taking a toll on their income and mental health.
Kelly Lambert’s 2024 research suggests health and teaching students can incur a further $12,500–15,000 to the cost of degrees during unpaid placements.
Students have explained the placement hours mean they can’t work in their regular paid casual or part-time jobs – and may lose this work as a result.
In the short term, if students are not supported to complete their placements, they may not have enough money for food or accommodation.
Our research found 29% of teaching and allied health students regularly skip meals while on placement. Some students also described sleeping in cars or driving excessive distances due to limited or expensive accommodation options near their placements.
If students are not supported in their placements, research suggests they can experience burnout and may not finish their degrees. Or they may not even begin them in the first place.
This is particularly the case for students from regional or rural communities (who may have further to travel), students with parenting or caring responsibilities, and students from low economic and otherwise disadvantaged backgrounds.
We also know its important to support students to do placements in rural, regional and remote areas – students who complete placements in these communities are more likely to return and work in those communities.
As a first measure, the government should expand eligibility criteria for the current payment to include other health disciplines and those who don’t currently meet the means testing threshold.
Research tells us financial hardship is not confined to students who qualify for Austudy, it is experienced across the board.
Students have also suggested interest-free short-term loans, subsidised parking (similar to hospital employees), and greater transparency about the costs associated with unpaid placements. International students have also said public transport subsidies would help them complete their placements.
Other, more significant changes could include apprenticeship-type compensation models for healthcare students, where students get paid to study as part of their training. These schemes are already available in Scotland.
Ultimately, we want to support more students to do health and teaching degrees to fill workforce gaps – not discourage them with high costs of studying.
Kelly Lambert has received funding from the Australian Centre for Student Equity and Success.
Scott William does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. A new ‘prac payment’ has just kicked in. But it ignores many uni students – https://theconversation.com/a-new-prac-payment-has-just-kicked-in-but-it-ignores-many-uni-students-260087
Source: United Nations (video statements)
The Fourth International Conference on Financing for Development adopted the Compromiso de Sevilla as well as a Platform for Action laying the foundation for a renewed global framework to close the $4 trillion financing gap for the Sustainable Development Goals (SDGs), address the debt crises, and make the international financial system fairer and more transparent.
#ffd4 #sustainabledevelopment
Source: GlobeNewswire (MIL-OSI)
BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
AXA INVESTMENT MANAGERS
PRESS RELEASE
Paris, 01 July 2025,
BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.
This operation, announced on 1st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.
By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.
The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.
“This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.
Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.
The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.
Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.
From a financial perspective:
An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.
About BNP Paribas
Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
BNP Paribas Press Contacts
Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05
Attachment
Source: GlobeNewswire (MIL-OSI)
BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
AXA INVESTMENT MANAGERS
PRESS RELEASE
Paris, 01 July 2025,
BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.
This operation, announced on 1st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.
By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.
The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.
“This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.
Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.
The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.
Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.
From a financial perspective:
An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.
About BNP Paribas
Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
BNP Paribas Press Contacts
Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05
Attachment
Source: GlobeNewswire (MIL-OSI)
Company announcement
No. 16/2025
1 July 2025
Completion of the combination between Netcompany Banking Services and SDC and update on financial guidance
Today, Netcompany Group A/S (“Netcompany”) has completed the previously announced agreement of 10 February 2025, namely a transaction between Netcompany, SDC A/S (“SDC”), and a majority of SDC’s shareholders whereby a newly formed company of Netcompany and SDC would merge into a combined company fully owned by Netcompany. The transaction values SDC at DKK 1 billion and includes a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders.
The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.
André Rogaczewski, CEO Netcompany states:
“As we conclude the transaction with SDC, I am excited to welcome our new colleagues to Netcompany. This transaction positions Netcompany at the forefront of digital innovation in the banking sector. Together, we are embarking on a journey to redefine banking services, making them smarter, more efficient, and more customer-centric.
We are excited about the opportunities this transaction presents within the financial services industry and expect this transaction to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe”
Klaus Skjødt, CEO Sparekassen Kronjylland states:
“We are excited about the future and eager to realise the full potential of this transaction and to take all the knowledge that SDC has spent over 60 years building to the next level.
Our combined expertise and resources will empower us to deliver cutting-edge solutions and drive transformative change across the industry. I am confident that our partnership will enhance the banking experience for all stakeholders and set new standards for what both banks and their customers can expect in the future.”
Transaction details
Financial guidance
Financial guidance for 2025 for Netcompany on a stand-alone basis, as disclosed in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and the adjusted EBITDA margin between 16% and 19%.
In connection with the release of the Q2 Interim Report on 14 August 2025, Netcompany will disclose expected non-organic revenue and non-organic EBITDA for 2025 which accounts for the incorporation of SDC into Netcompany Banking Services for the full second half of 2025.
In connection with the Q3 Interim Report on 30 October 2025, Netcompany will disclose expected annual synergies as well as transaction – and integration costs, including provision for restructuring costs associated with the realisation of future synergies. In addition, a full purchase price allocation will be included in the Q3 Interim Report.
Netcompany expects to reinitiate its share buyback programmes in connection with the Q2 Interim Report on 14 August 2025. Leverage at the end of 2025 is expected to be around 1.5x.
As a consequence of the completion of the transaction, Netcompany’s financial aspirations for 2026 and 2027 regarding margin and revenue targets will be revised to reflect the incorporation of SDC and for this reason, the previously communicated targets are no longer relevant. The ambition to buy back shares for a total of DKK 2bn in the period from 2024 until the end of 2026 persists. Revised long-term financial aspirations will be communicated in connection with a Capital Markets Day on 31 October 2025.
Additional information
For additional information, please contact:
Netcompany Group A/S
Media:
Jacob Therkelsen, Head of PR and Public Affairs, +45 31 12 67 08
Investors:
Thomas Johansen, CFO, + 45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87
Attachment
Source: GlobeNewswire (MIL-OSI)
Company announcement
No. 16/2025
1 July 2025
Completion of the combination between Netcompany Banking Services and SDC and update on financial guidance
Today, Netcompany Group A/S (“Netcompany”) has completed the previously announced agreement of 10 February 2025, namely a transaction between Netcompany, SDC A/S (“SDC”), and a majority of SDC’s shareholders whereby a newly formed company of Netcompany and SDC would merge into a combined company fully owned by Netcompany. The transaction values SDC at DKK 1 billion and includes a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders.
The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.
André Rogaczewski, CEO Netcompany states:
“As we conclude the transaction with SDC, I am excited to welcome our new colleagues to Netcompany. This transaction positions Netcompany at the forefront of digital innovation in the banking sector. Together, we are embarking on a journey to redefine banking services, making them smarter, more efficient, and more customer-centric.
We are excited about the opportunities this transaction presents within the financial services industry and expect this transaction to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe”
Klaus Skjødt, CEO Sparekassen Kronjylland states:
“We are excited about the future and eager to realise the full potential of this transaction and to take all the knowledge that SDC has spent over 60 years building to the next level.
Our combined expertise and resources will empower us to deliver cutting-edge solutions and drive transformative change across the industry. I am confident that our partnership will enhance the banking experience for all stakeholders and set new standards for what both banks and their customers can expect in the future.”
Transaction details
Financial guidance
Financial guidance for 2025 for Netcompany on a stand-alone basis, as disclosed in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and the adjusted EBITDA margin between 16% and 19%.
In connection with the release of the Q2 Interim Report on 14 August 2025, Netcompany will disclose expected non-organic revenue and non-organic EBITDA for 2025 which accounts for the incorporation of SDC into Netcompany Banking Services for the full second half of 2025.
In connection with the Q3 Interim Report on 30 October 2025, Netcompany will disclose expected annual synergies as well as transaction – and integration costs, including provision for restructuring costs associated with the realisation of future synergies. In addition, a full purchase price allocation will be included in the Q3 Interim Report.
Netcompany expects to reinitiate its share buyback programmes in connection with the Q2 Interim Report on 14 August 2025. Leverage at the end of 2025 is expected to be around 1.5x.
As a consequence of the completion of the transaction, Netcompany’s financial aspirations for 2026 and 2027 regarding margin and revenue targets will be revised to reflect the incorporation of SDC and for this reason, the previously communicated targets are no longer relevant. The ambition to buy back shares for a total of DKK 2bn in the period from 2024 until the end of 2026 persists. Revised long-term financial aspirations will be communicated in connection with a Capital Markets Day on 31 October 2025.
Additional information
For additional information, please contact:
Netcompany Group A/S
Media:
Jacob Therkelsen, Head of PR and Public Affairs, +45 31 12 67 08
Investors:
Thomas Johansen, CFO, + 45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87
Attachment
Source: GlobeNewswire (MIL-OSI)
Schiphol, July 1, 2025 – Aegon today announces the completion of its EUR 150 million share buyback program that began on January 13, 2025.
Between January 13, 2025, and June 30, 2025, 25,200,170 common shares were repurchased for a total amount of EUR 150 million at an average price of EUR 5.9641 per share. Aegon will use 6,720,045 common shares to meet its obligations resulting from share-based compensation plans for senior management and cancel the remainder of the repurchased shares in the second half of 2025.
For further details, visit our share buyback updates page at aegon.com.
Contacts
About Aegon
Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Aegon’s portfolio of businesses includes fully owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint-ventures in Spain & Portugal, China, and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market leading Dutch insurance and pensions company.
Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues. Aegon is headquartered in Schiphol, the Netherlands, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com.
Forward-looking statements
The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. In addition, any statements that refer to sustainability, environmental and social targets, commitments, goals, efforts and expectations and other events or circumstances that are partially dependent on future events are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation, and expressly disclaims any duty, to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially and adversely from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:
This document contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the 2024 Integrated Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Attachment
Source: GlobeNewswire (MIL-OSI)
Leading European digital signage provider ZetaDisplay has announced an exciting new partnership with ENRA Technologies, a rapidly growing South African IT and AV solutions company, to accelerate the adoption of digital signage across South Africa and the wider African and Middle Eastern markets.
This strategic collaboration will leverage ZetaDisplay’s proprietary Engage Suite, an advanced digital signage software platform, to offer a full-service digital signage solution to businesses in retail, manufacturing, finance, and insurance. Together, ENRA and ZetaDisplay will combine their expertise to create innovative, data-driven digital experiences that enhance customer engagement and operational efficiency.
Raees Mukuddem, CEO and Founder of ENRA Technologies says:
“The digital signage market in South Africa is still in its infancy, but we’ve recognised its immense potential. By partnering with ZetaDisplay, an internationally recognised leader in this space, we are bringing best-in-class full-service solutions to the market. We believe in success through collaboration—what we call ‘evoking Ubuntu’—and we’re excited to work alongside ZetaDisplay to transform the industry.”
ENRA Technologies, founded in 2008, has grown from humble beginnings into a powerhouse delivering IT-managed services, integrated AV, security, and electronics across Africa and the Middle East. With a commitment to service excellence, the company has built strong, long-term relationships with major clients such as Woolworths, University of the Western Cape, Western Cape Government as well as other Public and Private sector Enterprises.
A Level One Black Economic Empowerment (BEE) company, ENRA is deeply committed to driving economic transformation in South Africa and has been recognised as a three-time Impumelelo Award winner for business excellence.
Ola Sæverås, Chief Business Officer at ZetaDisplay comments:
“ENRA is the perfect partner for expanding into the South African market. They are incredibly well-established, working with leading brands and enterprise clients across the region. Their deep local expertise, combined with our innovative Engage Suite CMS platform, will allow us to create powerful digital signage solutions tailored to regional business needs.”
The partnership is already making waves, with ENRA actively pursuing major digital signage rollouts with a leading South African retail chain with over 750 stores and one of the country’s top universities.
At the heart of this collaboration is ZetaDisplay’s Engage Suite, a next-generation CMS designed for omnichannel content management, real-time data analytics and programmatic advertising integration. The platform will empower South African businesses to create seamless, automated and highly targeted digital signage campaigns.
This partnership signals a new era for digital signage in South Africa, bringing together European innovation and African expertise to create engaging, effective, and future-proof digital solutions.
For further information please contact:
Ola Sæverås
Chief Business Officer – ZetaDisplay Group
Phone: +47 41 678 234
Email: ola@zetadisplay.com
Raees Mukuddem
CEO / Founder – ENRA technologies South Africa
Tel: +27 72 786 1856
Email: raees@enra.co.za
ABOUT ENRA Technologies
Founded in 2008 ENRA Technologies CC (“ENRA”) is a B-BBEE Level 1, South African ICT organisation headquartered in Cape Town with a satellite office in Johannesburg servicing clients throughout the country and the wider African continent.
ENRA’s core business is turnkey solutions design, implementation and maintenance of IT, Audio Visual and Security systems for government and private sector entities.
ENRA is deeply committed to driving economic transformation in South Africa and has been recognised as a three-time Impumelelo Award winner for business excellence.
More information at: www.enra.co.za/
ABOUT ZETADISPLAY
ZetaDisplay was founded 2003 in Sweden as one of the early pioneers of digital signage software and solutions. Today ZetaDisplay is of the leading European corporations in the digital signage market and a leading force in the European and global digital signage industry.
Our proprietary software platform, digital business development and consulting services, innovative digital signage solutions, and creative concepts regularly inspire- influence and guide millions of people every day in retail environments, in restaurants, on advertising screens, in factories, on trains, on cruise ships, in stadiums, in workplaces and in all types of public spaces indoor and outdoor. ZetaDisplay is one of the largest leading European digital signage companies with direct operations in eight European countries and the US with +125,000 active installations in over 50 countries, across all major continents where we are the business partner of choice for many of the worlds most respected blue-chip brands and companies.
ZetaDisplay is based in Malmö-Sweden, has a turnover of SEK +600 million and employs approx. 250 co-workers. ZetaDisplay is owned by the investment company Hanover Investors.
More information about ZetaDisplay can be found on the group global website www.zetadisplay.com or for Investor relations at www.ir.zetadisplay.com or for owner information at www.hanoverinvestors.com.
Attachments
Source: GlobeNewswire (MIL-OSI)
Schiphol, July 1, 2025 – Aegon today begins a EUR 200 million share buyback that was announced on May 16, 2025. The share buyback is expected to be completed by December 15, 2025, barring unforeseen circumstances.
Aegon has entered into an agreement with its largest shareholder, Vereniging Aegon, to participate in the new EUR 200 million share buyback program. Vereniging Aegon will participate pro-rata in the share buyback program based on its combined common shares and common shares B which represent about 18.4% of the total shareholders’ voting rights that are currently exercisable. This results in a buyback amount of EUR 37 million. The number of common shares that Aegon will repurchase from Vereniging Aegon will be determined based on the daily volume-weighted average price per common share on Euronext Amsterdam.
Aegon will engage a third party to execute the buyback transactions on its behalf. The common shares will be repurchased at a maximum of the average of the daily volume-weighted average price per common share during the repurchase period. Aegon intends to cancel the shares it repurchases during this share buyback program.
The share buyback program will be executed in compliance with the EU’s Market Abuse Regulation and within the limitations of the existing authority as granted by our shareholders at our annual general meeting held on June 12, 2025. For further details, visit our share buyback updates page at aegon.com.
Contacts
About Aegon
Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Aegon’s portfolio of businesses includes fully owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint-ventures in Spain & Portugal, China, and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market leading Dutch insurance and pensions company.
Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues. Aegon is headquartered in Schiphol, the Netherlands, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com.
Forward-looking statements
The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. In addition, any statements that refer to sustainability, environmental and social targets, commitments, goals, efforts and expectations and other events or circumstances that are partially dependent on future events are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation, and expressly disclaims any duty, to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially and adversely from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:
This document contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the 2024 Integrated Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Attachment
Source: GlobeNewswire (MIL-OSI)
LAUNCESTON, Australia, July 01, 2025 (GLOBE NEWSWIRE) — Onefxclub.net, a company specializing in financial services, has expanded its offering by providing users with advanced tools designed to assist in making informed decisions based on comprehensive data. These tools aim to support individuals in understanding market information more clearly and efficiently. The availability of enhanced analysis resources reflects the company’s dedication to enabling its user base to better navigate the financial environment through careful examination of relevant indicators and patterns.
The recent improvements underscore the increasing importance of accessible analytical capabilities within the financial sector. Through detailed graphical data, real-time updates, and customizable features, the tools facilitate a deeper insight into financial movements without requiring specialized expertise. The value of these resources lies in their capacity to help users interpret various factors that influence financial outcomes, ultimately promoting more calculated and thoughtful decision-making processes.
Feedback from multiple sources has emphasized the practicality and clarity of the new features. A Onefxclub.net review highlights how the tools contribute to clearer visualization of trends, which assists users in evaluating scenarios with greater confidence. By streamlining the process of data interpretation, these analytical aids reduce the likelihood of misunderstandings. The review points out that this clarity serves as an important support system for anyone seeking to deepen their financial knowledge.
Another aspect underlined in a Onefxclub net review relates to the flexibility offered by the platform. Users can tailor the tools to their preferences, focusing on specific data points relevant to their particular interests or needs. This customization enables a more targeted experience, allowing each person to concentrate on the areas that matter most to them. Such personalization is seen as a meaningful enhancement, fostering a user-friendly environment that respects individual priorities and learning styles.
Importantly, the Onefxclub.net review also notes the balance struck between simplicity and detail. While providing access to comprehensive datasets, the tools maintain an approachable design that avoids overwhelming users. This balance ensures that the resources are suitable for a broad audience, including those who may be new to the financial field as well as more experienced individuals. The emphasis on ease of use without sacrificing depth marks a thoughtful effort to support diverse user backgrounds.
The company’s commitment to ongoing refinement is apparent through continuous updates and improvements to the analytical tools. Feedback mechanisms encourage users to share their experiences and suggest enhancements, which in turn informs further development. This responsive attitude highlights a focus on practical usefulness. Such a methodical progression helps maintain the relevance and reliability of the tools in a changing financial landscape.
In conclusion, the introduction of advanced analysis tools by Onefxclub represents a noteworthy step toward enriching the resources available to those engaged in financial activities. The tools assist users in better understanding complex information, allowing for more informed choices and greater confidence. The emphasis on accessibility, clarity, and customization underlines a commitment to user support that has been recognized in multiple reviews.
About Onefxclub.net
Onefxclub.net operates as a financial services provider with a focus on offering comprehensive analysis solutions that help users process and understand various market indicators. It operates on an international scale, maintaining active partnerships and engagements across over 30+ countries worldwide. Its global presence reflects a broad and diverse network of financial operations. The company prioritizes clear and effective tools that can be adapted to individual needs, helping its audience navigate financial data with more ease and confidence. By equipping users with these resources, the company supports a more informed approach to managing financial matters.
Serving a diverse clientele, Onefxclub consistently works to enhance the quality and relevance of its offerings. The company listens closely to user feedback to adjust its tools, ensuring they remain practical and useful. This ongoing commitment reflects an understanding of the evolving demands within financial environments and a dedication to helping users better grasp and respond to financial information.
Company Details
Company Name: Onefxclub
Email Address: support@onefxclub.net
Company Address: LAUNCESTON TAS, 7250 Tasmania, Australia.
Company Website: https://onefxclub.net
Disclaimer: This press release is provided by Onefxclub. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. Speculate only with funds that you can afford to lose. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Source: GlobeNewswire (MIL-OSI)
LAUNCESTON, Australia, July 01, 2025 (GLOBE NEWSWIRE) — Onefxclub.net, a company specializing in financial services, has expanded its offering by providing users with advanced tools designed to assist in making informed decisions based on comprehensive data. These tools aim to support individuals in understanding market information more clearly and efficiently. The availability of enhanced analysis resources reflects the company’s dedication to enabling its user base to better navigate the financial environment through careful examination of relevant indicators and patterns.
The recent improvements underscore the increasing importance of accessible analytical capabilities within the financial sector. Through detailed graphical data, real-time updates, and customizable features, the tools facilitate a deeper insight into financial movements without requiring specialized expertise. The value of these resources lies in their capacity to help users interpret various factors that influence financial outcomes, ultimately promoting more calculated and thoughtful decision-making processes.
Feedback from multiple sources has emphasized the practicality and clarity of the new features. A Onefxclub.net review highlights how the tools contribute to clearer visualization of trends, which assists users in evaluating scenarios with greater confidence. By streamlining the process of data interpretation, these analytical aids reduce the likelihood of misunderstandings. The review points out that this clarity serves as an important support system for anyone seeking to deepen their financial knowledge.
Another aspect underlined in a Onefxclub net review relates to the flexibility offered by the platform. Users can tailor the tools to their preferences, focusing on specific data points relevant to their particular interests or needs. This customization enables a more targeted experience, allowing each person to concentrate on the areas that matter most to them. Such personalization is seen as a meaningful enhancement, fostering a user-friendly environment that respects individual priorities and learning styles.
Importantly, the Onefxclub.net review also notes the balance struck between simplicity and detail. While providing access to comprehensive datasets, the tools maintain an approachable design that avoids overwhelming users. This balance ensures that the resources are suitable for a broad audience, including those who may be new to the financial field as well as more experienced individuals. The emphasis on ease of use without sacrificing depth marks a thoughtful effort to support diverse user backgrounds.
The company’s commitment to ongoing refinement is apparent through continuous updates and improvements to the analytical tools. Feedback mechanisms encourage users to share their experiences and suggest enhancements, which in turn informs further development. This responsive attitude highlights a focus on practical usefulness. Such a methodical progression helps maintain the relevance and reliability of the tools in a changing financial landscape.
In conclusion, the introduction of advanced analysis tools by Onefxclub represents a noteworthy step toward enriching the resources available to those engaged in financial activities. The tools assist users in better understanding complex information, allowing for more informed choices and greater confidence. The emphasis on accessibility, clarity, and customization underlines a commitment to user support that has been recognized in multiple reviews.
About Onefxclub.net
Onefxclub.net operates as a financial services provider with a focus on offering comprehensive analysis solutions that help users process and understand various market indicators. It operates on an international scale, maintaining active partnerships and engagements across over 30+ countries worldwide. Its global presence reflects a broad and diverse network of financial operations. The company prioritizes clear and effective tools that can be adapted to individual needs, helping its audience navigate financial data with more ease and confidence. By equipping users with these resources, the company supports a more informed approach to managing financial matters.
Serving a diverse clientele, Onefxclub consistently works to enhance the quality and relevance of its offerings. The company listens closely to user feedback to adjust its tools, ensuring they remain practical and useful. This ongoing commitment reflects an understanding of the evolving demands within financial environments and a dedication to helping users better grasp and respond to financial information.
Company Details
Company Name: Onefxclub
Email Address: support@onefxclub.net
Company Address: LAUNCESTON TAS, 7250 Tasmania, Australia.
Company Website: https://onefxclub.net
Disclaimer: This press release is provided by Onefxclub. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. Speculate only with funds that you can afford to lose. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
Source: GlobeNewswire (MIL-OSI)
LONDON and NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — In the latest episode of Navatar’s A-Game podcast, Charles Cameron, Partner at CBHH (Cameron Barney Herbst Hilgenfeldt), shares the firm’s focused approach to sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe. The conversation explores how CBHH is helping next-generation infrastructure businesses raise institutional capital and scale across borders
CBHH is a boutique M&A and corporate finance advisory firm, operating at the intersection of infrastructure and technology—a space the firm refers to as “core+ or value-add infrastructure.” This includes data centres and fiber broadband roll-outs, EV and HGV charging infrastructure, energy generation and storage and smart city technologies—all sectors with proven unit economics, but where companies still face growth-stage operational risk and have considerable demands for capital.
Core+ Infrastructure
Cameron explains how CBHH’s business focuses on “next-generation infrastructure” assets—businesses that fall between venture and traditional infrastructure mandates. They’re too small for most large-cap investors, but too capital-intensive for early-stage funds. Yet, these firms are driving “mission critical” infrastructure for the future and therefore, it is important that their funding needs are solved.
“These companies are capital hungry and operationally intense. But if you understand the unit economics—like take-up rates for fiber or utilization of EV charging—you can underwrite the growth just like with traditional infrastructure,” Cameron notes.
European Market Dynamics & German Expansion
Cameron Barney’s post-Brexit merger with German boutique Herbst Hilgenfeldt Partners has given the enlarged firm (“CBHH”) real-time coverage across two of Europe’s most active infrastructure markets.
“In Europe, decarbonization and digital infra are public priorities. Governments and investors alike are aligned—and we’re specifically positioned as the ‘go to’ firm to advise technology-centric infrastructure scale-ups which are leading that transition,” he says.
From Advisory to Execution to Capital
Strong relationships are central to CBBH’s approach. It is notable that CBHH regularly works with companies from their earliest institutional round all the way to large-scale strategic exits. A particular feature is that the firm has also co-invested in past clients—blending traditional merchant banking principles and support for clients with modern M&A execution.
“We’re not just dropping-in for a transaction. Some clients we’ve advised through 9 or 10 deals—and we have also invested alongside them from the outset. That level of commitment and continuity is rare (in our view), but it’s how we operate and how we have developed deep sector knowledge and relationships.”
Competing with Bulge Bracket banks
Despite its boutique size, CBHH punches well above its weight—often winning mandates over global investment banks. Cameron attributes this in part to the global banking heritage and transaction experience of the senior team. He also believes that the firm’s continued success if founded on deep sector knowledge, ongoing senior partner engagement, and agility in the midst of complex transactions.
“We are the size of a bulge bracket’s sector team—but almost certainly more focused, more aligned, and closer to the client. Our clients always get the A-team, not the associate bench.”
Scaling Institutional Knowledge with Navatar
With a growing cross-border team, CBHH chose Navatar’s CRM platform to turn individual relationships into firmwide institutional knowledge.
“With a growing team and across separate offices, Navatar gives us CRM tool of a bulge-bracket platform, but purpose-built for firms like ours,” observed Cameron.
“CBHH represents exactly the kind of investment bank redefining sector leadership in today’s private markets,” said Alok Misra, CEO at Navatar. “Their deep expertise in infrastructure, enviable record in transaction execution and long-term client model set them apart. Navatar simply helps surface and scale their institutional knowledge—so every individual in the firm, on every deal can benefit from every insight from their colleagues – and bring the full value of the firm to its mandates.”
Final Takeaways
Cameron also shares perspectives on:
“This is a firm built by ex-Goldman, Morgan Stanley, and UBS bankers—all of whom chose to bring their A game to the next generation of entrepreneurs, facing the challenges of rapid growth and large-scale capital requirements. We bring a distinct discipline and empathy to every client relationship.”
Listen to the full episode: https://youtu.be/wDJeyzySbTs?si=kG_2nkbM1dQaDmOw
Learn more about CBHH: www.cbhh.com
Learn more about on Navatar’s CRM for M&A Advisory & Investment Banking: https://www.navatargroup.com/mergers-and-acquisitions-crm-software/
About Cameron Barney Herbst Hilgenfeldt
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology.
About Navatar
Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, is a low-touch, high-impact intelligence engine purpose-built for investment workflows across private markets. Our platform delivers seamless intelligence capture, unifies firmwide relationships, and orchestrates complex deal processes—without requiring high-touch input or behavioral change from investment professionals. Backed by over two decades of CRM expertise, Navatar is used by hundreds of global private markets firms to drive institutional knowledge, create early access to opportunities and streamline execution. For more information, visit www.navatargroup.com.
Sales Team
Navatar
sales@navatargroup.com
Source: GlobeNewswire (MIL-OSI)
LONDON and NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — In the latest episode of Navatar’s A-Game podcast, Charles Cameron, Partner at CBHH (Cameron Barney Herbst Hilgenfeldt), shares the firm’s focused approach to sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe. The conversation explores how CBHH is helping next-generation infrastructure businesses raise institutional capital and scale across borders
CBHH is a boutique M&A and corporate finance advisory firm, operating at the intersection of infrastructure and technology—a space the firm refers to as “core+ or value-add infrastructure.” This includes data centres and fiber broadband roll-outs, EV and HGV charging infrastructure, energy generation and storage and smart city technologies—all sectors with proven unit economics, but where companies still face growth-stage operational risk and have considerable demands for capital.
Core+ Infrastructure
Cameron explains how CBHH’s business focuses on “next-generation infrastructure” assets—businesses that fall between venture and traditional infrastructure mandates. They’re too small for most large-cap investors, but too capital-intensive for early-stage funds. Yet, these firms are driving “mission critical” infrastructure for the future and therefore, it is important that their funding needs are solved.
“These companies are capital hungry and operationally intense. But if you understand the unit economics—like take-up rates for fiber or utilization of EV charging—you can underwrite the growth just like with traditional infrastructure,” Cameron notes.
European Market Dynamics & German Expansion
Cameron Barney’s post-Brexit merger with German boutique Herbst Hilgenfeldt Partners has given the enlarged firm (“CBHH”) real-time coverage across two of Europe’s most active infrastructure markets.
“In Europe, decarbonization and digital infra are public priorities. Governments and investors alike are aligned—and we’re specifically positioned as the ‘go to’ firm to advise technology-centric infrastructure scale-ups which are leading that transition,” he says.
From Advisory to Execution to Capital
Strong relationships are central to CBBH’s approach. It is notable that CBHH regularly works with companies from their earliest institutional round all the way to large-scale strategic exits. A particular feature is that the firm has also co-invested in past clients—blending traditional merchant banking principles and support for clients with modern M&A execution.
“We’re not just dropping-in for a transaction. Some clients we’ve advised through 9 or 10 deals—and we have also invested alongside them from the outset. That level of commitment and continuity is rare (in our view), but it’s how we operate and how we have developed deep sector knowledge and relationships.”
Competing with Bulge Bracket banks
Despite its boutique size, CBHH punches well above its weight—often winning mandates over global investment banks. Cameron attributes this in part to the global banking heritage and transaction experience of the senior team. He also believes that the firm’s continued success if founded on deep sector knowledge, ongoing senior partner engagement, and agility in the midst of complex transactions.
“We are the size of a bulge bracket’s sector team—but almost certainly more focused, more aligned, and closer to the client. Our clients always get the A-team, not the associate bench.”
Scaling Institutional Knowledge with Navatar
With a growing cross-border team, CBHH chose Navatar’s CRM platform to turn individual relationships into firmwide institutional knowledge.
“With a growing team and across separate offices, Navatar gives us CRM tool of a bulge-bracket platform, but purpose-built for firms like ours,” observed Cameron.
“CBHH represents exactly the kind of investment bank redefining sector leadership in today’s private markets,” said Alok Misra, CEO at Navatar. “Their deep expertise in infrastructure, enviable record in transaction execution and long-term client model set them apart. Navatar simply helps surface and scale their institutional knowledge—so every individual in the firm, on every deal can benefit from every insight from their colleagues – and bring the full value of the firm to its mandates.”
Final Takeaways
Cameron also shares perspectives on:
“This is a firm built by ex-Goldman, Morgan Stanley, and UBS bankers—all of whom chose to bring their A game to the next generation of entrepreneurs, facing the challenges of rapid growth and large-scale capital requirements. We bring a distinct discipline and empathy to every client relationship.”
Listen to the full episode: https://youtu.be/wDJeyzySbTs?si=kG_2nkbM1dQaDmOw
Learn more about CBHH: www.cbhh.com
Learn more about on Navatar’s CRM for M&A Advisory & Investment Banking: https://www.navatargroup.com/mergers-and-acquisitions-crm-software/
About Cameron Barney Herbst Hilgenfeldt
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology.
About Navatar
Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, is a low-touch, high-impact intelligence engine purpose-built for investment workflows across private markets. Our platform delivers seamless intelligence capture, unifies firmwide relationships, and orchestrates complex deal processes—without requiring high-touch input or behavioral change from investment professionals. Backed by over two decades of CRM expertise, Navatar is used by hundreds of global private markets firms to drive institutional knowledge, create early access to opportunities and streamline execution. For more information, visit www.navatargroup.com.
Sales Team
Navatar
sales@navatargroup.com
Source: GlobeNewswire (MIL-OSI)
LONDON and NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — In the latest episode of Navatar’s A-Game podcast, Charles Cameron, Partner at CBHH (Cameron Barney Herbst Hilgenfeldt), shares the firm’s focused approach to sourcing and executing infrastructure financing and M&A opportunities across the UK and continental Europe. The conversation explores how CBHH is helping next-generation infrastructure businesses raise institutional capital and scale across borders
CBHH is a boutique M&A and corporate finance advisory firm, operating at the intersection of infrastructure and technology—a space the firm refers to as “core+ or value-add infrastructure.” This includes data centres and fiber broadband roll-outs, EV and HGV charging infrastructure, energy generation and storage and smart city technologies—all sectors with proven unit economics, but where companies still face growth-stage operational risk and have considerable demands for capital.
Core+ Infrastructure
Cameron explains how CBHH’s business focuses on “next-generation infrastructure” assets—businesses that fall between venture and traditional infrastructure mandates. They’re too small for most large-cap investors, but too capital-intensive for early-stage funds. Yet, these firms are driving “mission critical” infrastructure for the future and therefore, it is important that their funding needs are solved.
“These companies are capital hungry and operationally intense. But if you understand the unit economics—like take-up rates for fiber or utilization of EV charging—you can underwrite the growth just like with traditional infrastructure,” Cameron notes.
European Market Dynamics & German Expansion
Cameron Barney’s post-Brexit merger with German boutique Herbst Hilgenfeldt Partners has given the enlarged firm (“CBHH”) real-time coverage across two of Europe’s most active infrastructure markets.
“In Europe, decarbonization and digital infra are public priorities. Governments and investors alike are aligned—and we’re specifically positioned as the ‘go to’ firm to advise technology-centric infrastructure scale-ups which are leading that transition,” he says.
From Advisory to Execution to Capital
Strong relationships are central to CBBH’s approach. It is notable that CBHH regularly works with companies from their earliest institutional round all the way to large-scale strategic exits. A particular feature is that the firm has also co-invested in past clients—blending traditional merchant banking principles and support for clients with modern M&A execution.
“We’re not just dropping-in for a transaction. Some clients we’ve advised through 9 or 10 deals—and we have also invested alongside them from the outset. That level of commitment and continuity is rare (in our view), but it’s how we operate and how we have developed deep sector knowledge and relationships.”
Competing with Bulge Bracket banks
Despite its boutique size, CBHH punches well above its weight—often winning mandates over global investment banks. Cameron attributes this in part to the global banking heritage and transaction experience of the senior team. He also believes that the firm’s continued success if founded on deep sector knowledge, ongoing senior partner engagement, and agility in the midst of complex transactions.
“We are the size of a bulge bracket’s sector team—but almost certainly more focused, more aligned, and closer to the client. Our clients always get the A-team, not the associate bench.”
Scaling Institutional Knowledge with Navatar
With a growing cross-border team, CBHH chose Navatar’s CRM platform to turn individual relationships into firmwide institutional knowledge.
“With a growing team and across separate offices, Navatar gives us CRM tool of a bulge-bracket platform, but purpose-built for firms like ours,” observed Cameron.
“CBHH represents exactly the kind of investment bank redefining sector leadership in today’s private markets,” said Alok Misra, CEO at Navatar. “Their deep expertise in infrastructure, enviable record in transaction execution and long-term client model set them apart. Navatar simply helps surface and scale their institutional knowledge—so every individual in the firm, on every deal can benefit from every insight from their colleagues – and bring the full value of the firm to its mandates.”
Final Takeaways
Cameron also shares perspectives on:
“This is a firm built by ex-Goldman, Morgan Stanley, and UBS bankers—all of whom chose to bring their A game to the next generation of entrepreneurs, facing the challenges of rapid growth and large-scale capital requirements. We bring a distinct discipline and empathy to every client relationship.”
Listen to the full episode: https://youtu.be/wDJeyzySbTs?si=kG_2nkbM1dQaDmOw
Learn more about CBHH: www.cbhh.com
Learn more about on Navatar’s CRM for M&A Advisory & Investment Banking: https://www.navatargroup.com/mergers-and-acquisitions-crm-software/
About Cameron Barney Herbst Hilgenfeldt
Cameron Barney Herbst Hilgenfeldt (CBHH) is an independent European investment bank providing financing and M&A advice to fast-growing companies in the ‘infra-tech’ sector including energy transition infrastructure, digital infrastructure, social infrastructure, natural capital and technology.
About Navatar
Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, is a low-touch, high-impact intelligence engine purpose-built for investment workflows across private markets. Our platform delivers seamless intelligence capture, unifies firmwide relationships, and orchestrates complex deal processes—without requiring high-touch input or behavioral change from investment professionals. Backed by over two decades of CRM expertise, Navatar is used by hundreds of global private markets firms to drive institutional knowledge, create early access to opportunities and streamline execution. For more information, visit www.navatargroup.com.
Sales Team
Navatar
sales@navatargroup.com
