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Category: Economy

  • MIL-OSI USA: RELEASE: Mullin Introduces Black Vulture Relief Act to Protect the Livelihoods of Farmers and Ranchers

    US Senate News:

    Source: United States Senator MarkWayne Mullin (R-Oklahoma)

    RELEASE: Mullin Introduces Black Vulture Relief Act to Protect the Livelihoods of Farmers and Ranchers

    Washington, D.C. – Today, U.S. Senator Markwayne Mullin (R-OK), along with SenatorsTommy Tuberville (R-AL) and Eric Schmitt (R-MO), introduced the Black Vulture Relief Act of 2025 which would allow farmers and ranchers the ability to protect their livestock when threatened by predatory animals without big government interference.

    The Black Vultures Relief Act of 2025 removes the requirement for a depredation permit, allowing farmers and ranchers to take black vultures anytime the birds threaten their livestock. This bill also preserves the requirement for annual take reporting to the Fish and Wildlife Service (FWS), allowing FWS to continue monitoring black vulture population numbers, in addition to prohibiting the use of poison as a method of take.

    Senators Cotton (R-AR), Wicker (R-MS), Britt (R-AL), Scott (R-FL), Lummis (R-WY), Hagerty (R-TN), Budd (R-NC), Barrasso (R-WY), Ricketts (R-NE), Cruz (R-TX), Lankford (R-OK), Hyde-Smith (MS), and Graham (SC) joined Mullin, Tuberville, and Schmitt in cosponsoring this legislation.

    “Oklahoma ranchers deserve the right to protect their livestock from threatening predators,” said Senator Mullin. “Attacks from black vultures are all too common and our ranchers are suffering the consequences. As a rancher myself, I know firsthand the implications of the rapidly growing black vulture population and the negative effect this has on livestock production. Removing the requirement for a depredation permit will allow Oklahomans the ability to do what is necessary to protect their livestock and reduce economic hardship. It’s vital to the livelihood of ranchers across the country that we get this fixed.”

    “America’s cattlemen work hard to feed our communities and shouldn’t have to jump through a bunch of hoops just to protect their herds,” said Senator Tuberville. “Adjusting these sub-permit requirements that are based on outdated data is just one more commonsense way we can support our cattlemen and help them keep more of their hard-earned dollars. I’ll continue using the feedback from Alabama’s agriculture community to guide my work here in D.C.”

    “Black vultures are a deadly species that have caused hundreds of thousands of dollars of damage to ranchers and producers across Missouri. These birds are native to Missouri and have seen their population grow by more than 450 percent since 1990. We must keep this dangerous bird population under control and allow ranchers and producers across our great state the ability to do what they do best—provide the best beef and ag products in the world,” said Senator Eric Schmitt.

    Full text of the Black Vulture Relief Act of 2025 can be found here.

    The Black Vulture Relief Act is endorsed by the following stakeholders: National Supporting Groups: National Cattleman’s Beef Association (NCBA), American Farm Bureau Federation (AFBF), US Cattlemen’s Association (USCA), Oklahoma Department of Wildlife & Conservation, Texas Sheep and Goat Raisers Association (TSGRA), Wyoming Stock Growers (WSG), 14 Cattlemen’s Associations (AL, CO, IA, IN, KS, MN, MS, ND, OH, OK, OR, MO, TN, VA) and 7 State Farm Bureau Federations (FL, MS, OK, PA, TN, TX, WY)

    “The challenges faced by America’s farmers and ranchers are numerous, from unstable commodity prices to drought and unpredictable weather. The safety threat to livestock posed by predatory birds like black vultures is yet another risk our members face, day in and day out, and we’re appreciative of Senator Mullin’s leadership to help our members mitigate that risk”, said Sam Kieffer, American Farm Bureau Federation VP of Public Policy. “Protecting their livestock is of the utmost importance to farmers and ranchers, and this legislation will better equip them to do just that.”

    “Currently, black vulture populations in the south and Midwest are skyrocketing and it is a success story of the Migratory Bird Treaty Act. Now is the time to recognize that success and allow cattle producers to effectively manage this abundant predator species through commonsense measures like the Black Vulture Relief Act. Family cattle operations are facing financial strain from the abundance of black vultures on their operations and the propensity of these predators to target newborn calves that cannot defend themselves,” said National Cattlemen’s Beef Association (NCBA) Executive Director of Natural Resources and PLC Executive Director Kaitlynn Glover. “NCBA and PLC thank Senator Mullin for taking action to fix this problem and providing producers the management tools they need to protect their livelihoods.”

    “ASI encourages support for this legislation as vultures are a growing predator of lambs in America, and farmers and ranchers have few options today to address these losses. Predator losses of sheep and the associated management costs are the second-largest expense of many sheep operations in America,” said Steve Clements, American Sheep Industry Association Board Member and South Dakota sheep producer.

    “The Oklahoma Cattlemen’s Association is extremely grateful to Senator Mullin for introducing this bill to help cattle raisers protect their cattle. Black Vultures are a predator to cattle, especially new mother cows and their baby calves,” said Michael Kelsey, Executive Vice President of Oklahoma Cattlemen’s Association. “Senator Mullin, being a cattle raiser, knows the challenges that high populations of black vultures have presented to cattle raisers. This is great common-sense legislation that works well in ranch country.”

    “We appreciate Senator Mullin’s efforts to help cattle producers more effectively protect their herds and, ultimately, their livelihoods,” said Tennessee Farm Bureau President, Eric Mayberry. “This legislation takes a crucial step in alleviating the burden farmers face with growing black vulture populations and depredation of livestock across Tennessee.”

    “Black vultures are predators and pose a tremendous threat to cattle producers. Their attacks, often killing calves and vulnerable animals, cause financial devastation for family farms,” said Elizabeth Harsh, Executive Director of the Ohio Cattlemen’s Association. “The current system prevents producers from effectively protecting their cattle herd, at the same time as the black vulture population explodes and does not warrant continued federal protection. OCA appreciates Senator Mullin for his common-sense approach with this very important legislation.”

    Background:

    • Over the past several decades, black vultures’ expanding population has led to an additional burdensome and costly strain on livestock producers due to increased livestock depredation by these birds. 
    • Black vultures, often in flocks of 20+, brutally attack and eat newborn calves, lambs, goat kids, and piglets for an average of 3.5 gruesome hours while they are most vulnerable.   
    • In 2015, vultures were the third leading cause of calf deaths due to predators, only behind coyotes and unknown predators, causing 24,600 or 10% of all calf deaths due to predators. 
    • According to the US Geological Survey’s Breeding Bird Survey, the black vulture population has increased by approximately 468% to more than 190 million birds since 1990. 
    • Despite the bird’s robust population, the black vulture is protected under the Migratory Bird Treaty Act of 1918 (MBTA) making it illegal, with an up to $15,000 fine, to take one without obtaining a depredation permit.
    • For black vultures, U.S. Fish and Wildlife Service (FWS) issues master permits to states who then issue sub-permits, limited to 3-10 depending on the state, to ranchers. 
    • Current state participants are OK, MD, PA, VA, KY, TN, AR, MS, MO, OH, IN, IL, TX, and AL.
    • From 2015-2019, requests to FWS for depredation permits for take of black vultures increased by 26%.
    • From 2020-2025, according to the U.S. Department of Agriculture’s Wildlife Services, black vulture attacks on cattle increased by almost 25%.
    • In January 2025, the America’s Conservation Enhancement (ACE) Reauthorization Act was signed into law that included a provision Senator Mullin secured codifying the original Black Vulture Relief pilot program. 
    • House Companion: H.R. 2426 introduced by Reps. John Rose (R-TN) and Darren Soto (D-FL).

    MIL OSI USA News –

  • MIL-OSI USA: Warner, Capito Introduce Bill to Improve Early Assessment, Diagnosis of Alzheimer’s

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner
    WASHINGTON – U.S. Sens. Mark R. Warner (D-VA) and Shelley Moore Capito (R-WV), reintroduced the Concentrating on High-Value Alzheimer’s Needs to Get to an End (CHANGE) Act, bipartisan legislation to encourage early assessment and diagnosis of Alzheimer’s. Companion legislation was also introduced in the U.S. House of Representatives by Reps. Linda Sanchez (D-CA), Darren LaHood (R-IL), Doris Matsui (D-CA), and Gus Bilirakis (R-FL).
    “Having watched my mother battle Alzheimer’s for a decade before her passing, I know this is a devastating disease that impacts not just the individual, but the entire family. Our legislation is key to helping secure an early diagnosis that will allow for better care, earlier access to treatment, and more support for families navigating this difficult journey,” Sen. Warner said.
    “As we continue to search for breakthroughs in the fight against Alzheimer’s, we must ensure our health care system is doing its part to identify the disease earlier and connect patients and families with the tools they need. The CHANGE Act focuses on practical improvements—like earlier screening and detection—that can make a meaningful difference right now. I’m proud to reintroduce this bill to help improve outcomes, ease the burden on caregivers, and move us closer to ending this devastating disease,” Sen. Capito said.
    “Like countless families across the country, mine has personally felt the heartbreaking toll of Alzheimer’s,” Rep. Sánchez said. “Having lost both of my parents to this cruel disease, I understand how critical early diagnosis can be. Our bipartisan, bicameral bill would early assessments and offer crucial resources for families. As our population continues to age and diagnoses expected to rise, we can’t afford to wait.”
    “Alzheimer’s affects millions of Americans, and we must be relentless in our search for a cure,” Rep. LaHood said. “I am proud to work alongside Rep. Sánchez to reintroduce the CHANGE Act to strengthen existing tools within Medicare, helping to streamline and broaden the ability for earlier diagnosis of dementia. It is critical that Congress find ways to support patients, their families, and caregivers.”
    “We need a comprehensive approach to tackle the devastating impact of Alzheimer’s and to support the millions of Americans battling against this disease. Early detection and intervention are crucial to improve care and prolong the life of loved ones,” Rep. Matsui said. “The CHANGE Act provides important tools to deliver early support and high-value care. I applaud my colleagues for advancing this bipartisan effort as we continue taking steps forward to prevent, treat, and put an end to Alzheimer’s.”
    “As research continues to yield advancement in the development of more treatment options for patients with Alzheimer’s, we know that early detection, diagnosis and intervention offers the best promise for disease management,” Rep. Bilirakis said. “My family has coped with the devastating impacts of this horrific disease for more than a decade, so I understand the toll it takes on the patient and his or her loved ones as it progresses.  We owe it to our fellow Americans to develop a system of care that prioritizes education, screening and assessment so that patients can enjoy the best possible quality of life.”
    The CHANGE Act is endorsed by: UsAgainstAlzheimer’s, American Academy of Neurology, Alzheimer’s Association, Alzheimer’s Foundation of America, AMDA – The Society for Post-Acute and Long-Term Care Medicine, Alliance for Aging Research, Partnership to Fight Chronic Disease, Gerontological Society of America, American Society of Consultant Pharmacists, Latinos Against Alzheimer’s, and USAging.
    “The reintroduction of the CHANGE Act is a powerful display of bipartisan, bicameral leadership stepping up to confront the growing Alzheimer’s crisis. Senators Capito and Warner, along with Representatives Sánchez, LaHood, Matsui, and Bilirakis, recognize that early detection and timely intervention are extremely important to improving outcomes for patients and reducing strain on families and our healthcare system. UsAgainstAlzheimer’s proudly supports this legislation, which shifts our country’s approach from reacting too late to acting early—where we have the greatest chance to change lives and make a difference,” George Vradenburg, CEO and Founder of UsAgainstAlzheimer’s, said.
    Approximately 7.2 million Americans age 65 and older are living with Alzheimer’s disease in 2025. That number could grow to a projected 13.8 million by 2060. The direct financial costs of Alzheimer’s disease and related dementias will also continue to increase exponentially, with projections indicating they will reach just under $1 trillion by 2050.
    The CHANGE Act would better utilize the existing Welcome to Medicare initial exam and Medicare annual wellness visits to screen, detect, and diagnose Alzheimer’s and related dementias in their earliest stages.
    Now, as new treatments are approved and glimpses at what could be on the horizon for those living with the disease emerge, ensuring screening and diagnosis is taking place is more essential than ever. An early documented diagnosis communicated to the patient and caregiver enables early access to care planning services and available medical and non-medical treatments and optimizes patients’ ability to build a care team, participate in support services, and enroll in clinical trials. It also would allow this devastating disease to be caught in its earliest stages, and ensure appropriate access to treatment.
    Legislative text is available here.  

    MIL OSI USA News –

  • MIL-OSI: Helium Evolution Announces Filing of First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 20, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three months ended March 31, 2025 (the “Q1 Report”).

    Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI’s website.

    Three Months Ended March 31, 2025 Highlights

        Three months ended
    Tabular amounts in thousands of
    Canadian Dollars, except share and per share amounts    		     March 31,
    2025    		   March 31,
    2024    		  
    Financial            
    Net loss     675   239  
    Net loss per share, basic and diluted     0.01   0.00  
    Cash     3,004   5,304  
    Working capital     1,966   4,992  
    Total assets     11,683   11,293  
    Total liabilities     1,500   872  
    Weighted average shares outstanding            
    Basic and diluted1     97,129,085   96,033,974  
     1The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.
     

    During the first quarter of 2025, HEVI maintained its focus on disciplined operational execution, closing the quarter with $2.0 million in working capital and a strong cash position. Subsequent to quarter-end, the Company completed or announced equity financings totaling approximately $3.4 million, further strengthening its balance sheet and supporting planned development and drilling initiatives for the remainder of 2025.

    Operationally, the Company drilled four wells in the Mankota area during the first quarter of 2025, in partnership with North American Helium Inc. (“NAH”), two of which discovered helium. To date, HEVI and NAH have successfully drilled six helium discovery wells, further substantiating the potential of the region. 

    Building upon this momentum, HEVI and NAH, are progressing with additional development plans in the Mankota area. Notably, NAH has secured a license for a facility (the “Soda Lake Facility”) to tie-in the 9-35 well, the 10-1 well and the 10-36 well in the northern part of the discovery, as shown on the map above. The Soda Lake Facility is expected to be operational in the fourth quarter of 2025, marking a significant milestone for HEVI with its first helium sales volumes. Additional drilling is planned for the second half of 2025 to advance the project further. 

    Stay Connected to Helium Evolution

    Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers.    

    About Helium Evolution Incorporated

    Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

    For further information, please contact:

    Statement Regarding Forward-Looking Information

    This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

    Forward-looking statements in this document include statements regarding the Company’s expectations regarding the Soda Lake Facility including timing, tie-in of wells to the Soda Lake Facility, the Company’s expectations regarding scalable helium production from its land generally, the Company and/or NAH’s plans to drill more wells, completion of the financing as announced, the Company becoming a leading supplier of sustainably-produced helium, the Company’s belief regarding becoming a key player in the North American helium industry, the Company’s beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including future drilling; the Company and/or NAH may determine not to bring the helium wells onto production; the Company and/or NAH may abandon, defer or accelerate plans and decisions regarding the Soda Lake Facility; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company’s securities regardless of its operating performance; the financings may not close as anticipated or at all; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

    When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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

    An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ade519ed-7912-4ca5-8b3b-1edfd33a0e89

    The MIL Network –

  • MIL-OSI: First Busey Corporation Closes Depositary Share Offering

    Source: GlobeNewswire (MIL-OSI)

    LEAWOOD, Kan., May 20, 2025 (GLOBE NEWSWIRE) — First Busey Corporation (“Busey”) (Nasdaq: BUSE), the holding company for Busey Bank and CrossFirst Bank, today announced the closing of its previously announced underwritten public offering of 8,600,000 depositary shares (inclusive of 600,000 depositary shares offered in connection with the partial exercise of the underwriters’ over-allotment option), each representing a 1/40th ownership interest in a share of its 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). As a result of the public offering, Busey received proceeds of approximately $207,477,500, net of estimated expenses and underwriting discounts and commissions.

    Piper Sandler & Co., Morgan Stanley & Co. LLC and Keefe, Bruyette & Woods, Inc. acted as joint bookrunning managers for the offering, and Janney Montgomery Scott LLC is acting as the co-manager.

    A shelf registration statement, including a prospectus, with respect to the offering was previously filed by Busey with the Securities and Exchange Commission (the “SEC”) on September 21, 2023. A prospectus supplement relating to the offering has been filed with the SEC. The offering has been made by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained free of charge by visiting the SEC’s website at www.sec.gov. Alternatively, Busey or any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement if you request it by emailing Piper Sandler & Co. at fsg-dcm@psc.com or calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559.

    Corporate Profile
    As of March 31, 2025, First Busey Corporation (Nasdaq: BUSE) was a $19.46 billion financial holding company headquartered in Leawood, Kansas.

    Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $11.98 billion as of March 31, 2025. Busey Bank currently has 62 banking centers, with 21 in Central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, three in Southwest Florida, and one in Indianapolis. More information about Busey Bank can be found at busey.com.

    CrossFirst Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Leawood, Kansas, had total assets of $7.45 billion as of March 31, 2025. CrossFirst Bank currently has 16 banking centers located across Arizona, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas. More information about CrossFirst Bank can be found at crossfirstbank.com. It is anticipated that CrossFirst Bank will be merged with and into Busey Bank on June 20, 2025.

    Through Busey Bank’s Wealth Management division, Busey provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $13.68 billion as of March 31, 2025. More information about Busey’s Wealth Management services can be found at busey.com/wealth-management.

    Busey Bank’s wholly-owned subsidiary, FirsTech, Inc. (“FirsTech”) specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, FirsTech simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. More information about FirsTech can be found at firstechpayments.com.

    For the fourth consecutive year, Busey was named among 2025’s America’s Best Banks by Forbes. Ranked 88th overall, Busey was one of seven banks headquartered in Illinois included on this year’s list. Busey was also named among the 2024 Best Banks to Work For by American Banker, the 2024 Best Places to Work in Money Management by Pensions and Investments, the 2024 Best Places to Work in Illinois by Daily Herald Business Ledger, the 2025 Best Places to Work in Indiana by the Indiana Chamber of Commerce, and the 2024 Best Companies to Work For in Florida by Florida Trend magazine. We are honored to be consistently recognized globally, nationally and locally for our engaged culture of integrity and commitment to community development.

    First Busey Corporation Contacts
    For Financials: For Media:
    Scott Phillips, Interim CFO Amy L. Randolph, EVP & COO
    First Busey Corporation  First Busey Corporation
    (239) 689-7167 (217) 365-4049
    scott.phillips@busey.com amy.randolph@busey.com
       

    Forward-Looking Statements
    This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey’s financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations, and assumptions of Busey’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should,” “position,” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events.

    A number of factors, many of which are beyond Busey’s ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey’s general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia’s invasion of Ukraine and the conflict in the Middle East); (4) unexpected results of acquisitions, including the acquisition of CrossFirst, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey’s commercial borrowers; (6) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7) changes in interest rates and prepayment rates of Busey’s assets (including the impact of sustained elevated interest rates); (8) increased competition in the financial services sector (including from non-bank competitors such as credit unions and fintech companies) and the inability to attract new customers; (9) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (10) the loss of key executives or associates, talent shortages, and employee turnover; (11) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey’s Illinois franchise taxes); (12) fluctuations in the value of securities held in Busey’s securities portfolio, including as a result of changes in interest rates; (13) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey’s loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15) the level of non-performing assets on Busey’s balance sheets; (16) interruptions involving information technology and communications systems or third-party servicers; (17) breaches or failures of information security controls or cybersecurity-related incidents; (18) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey’s cost of funds; (20) the ability to maintain an adequate level of allowance for credit losses on loans; (21) the effectiveness of Busey’s risk management framework; and (22) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

    The MIL Network –

  • MIL-Evening Report: Spotify continues to change music. What’s next – will AI musicians replace music made by humans?

    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

    Spotify was started, according to its official claims, because its founders “love music and piracy was killing it”. In Mood Machine, music journalist Liz Pelly argues this is rewriting history.

    In fact, she points out, Spotify founder Daniel Ek initially patented a platform around 2006, for circulating “any kind of digital content”. Only months later did he and his co-founder decide music might be the most profitable form of content.

    Review: Mood Machine: The Rise of Spotify and the Costs of the Perfect Playlist – Liz Pelly (Hodder & Stoughton)

    Ek grew up in a working-class suburb of Stockholm. A neighbour recalled that, while still at school, Ek had set up a website-making business – and was earning more than his teachers. Rejected for a job at Google, he founded an ad-targeting business, Advertigo. After he sold it to tech entrepreneur Martin Lorentzon, the two men registered a new company: Spotify.

    ‘The Google of music’

    Spotify would allow users to find their desired piece of music quickly. Ek described it in 2009 as “essentially the Google of music”, Pelly writes. He had a “maniacal focus” on ensuring a user would get a virtually instantaneous response when they pressed play; no annoying buffering.

    Spotify launched in Europe in 2008 and in the United States in 2011. It listed on the stock market in 2018. Spotify has just recorded its first annual profit. It is valued at over US$100 billion: more than the three leading recording companies combined.

    It had 678 million users at March 2025: of them, 268 million were paying subscribers. The rest contribute to Spotify’s earnings by listening to advertisements: the so-called “freemium” model.

    Boon or bane of musicians?

    Music streaming now accounts for 84% of recorded music revenue, according to Pelly – and Spotify is the largest music streamer.

    Initially, Spotify looked like a boon to musicians, she writes. It could save music from the threat of “pirate” downloading, which gave no payments to creators. But many musicians are critical of the low payments artists get: fractions of a cent per stream.

    Spotify claims that in 2024 it paid out more than US$10 billion to the music industry. It claims nearly 1,500 artists are earning over US$1 million annually.

    Spotify pays the recording and publishing rights holders, not the singers and songwriters. How much the latter gets depends on their contracts with the record companies. The system is complicated, indirect and not that transparent.

    ‘Mixtapes still work’ – so do playlists

    Spotify gradually shifted towards playlists, to simplify the process of users selecting music. Some playlists, like “today’s top hits”, just consisted of the currently most popular songs. These are like the “top 40” format of many commercial radio stations.

    Spotify also hired music experts to compile their choice of the best new releases. The compilers of the most popular of these playlists, such as the playlist “rap caviar”, became very influential. A Spotify advertisement in 2013 made the analogy between playlists and mixtapes (as featured in Nick Hornby’s High Fidelity), claiming “mixtapes still work”.

    Spotify advertising claims ‘mixtapes still work’, referencing High Fidelity.

    Spotify also increasingly tried to increase passive listening. It introduced playlists geared to match the existing tastes of listeners and allow for how these might vary across the day. It termed this “music for every moment”: music to exercise to, background music for studying, music to help you sleep and so on. I have a playlist of songs about economics.

    Ek said in 2016: “we really want to soundtrack every moment of your life”.

    One of the parts of the book I found most intriguing was Pelly’s discussion of how this echoes a strategy developed by Thomas Edison around a century ago. He produced shellac 78 rpm records with titles such as “in moods of wistfulness” and “for more energy!”.

    In 2014, Spotify made large investments in “algorithmic personalisation”. This suggested music similar in key, tempo, time signature, acousticness, danceability, loudness, mode and energy to whatever the user was already choosing.

    This kept users “within their comfort zone (or as Spotify thought of it, their customer retention zone)”. But it meant users were much less likely to encounter new styles and artists, or broaden their musical horizons.

    Generic music and AI

    While Spotify denies it, Pelly claims Spotify commissions session musicians, playing under assumed names, to record very generic-sounding music, for playlists such as “chill instrumental beats”. Pelly gives an example of 20 songwriters using 500 names to produce thousands of tracks, streamed millions of times.

    A “looming cloud” is the prospect AI-generated music will displace human musicians and singers in Spotify’s playlists, Pelly writes. She mentions that Spotify blocked a start-up called Boomy, which released over 14.5 million AI-generated songs – and has since struck up a partnership with Warner.

    Another controversy is around Spotify’s Discovery Mode, which offers artists more promotion of their songs in exchange for accepting lower payments. But if most artists do this, the promotions cancel each other out, leaving all the artists worse off.

    How Spotify is changing music

    Pelly quotes an independent record label founder who says Spotify has changed the nature of the music being made.

    It’s not sustainable to put out challenging records […] you have to put out records that are going to get repeat listens in coffee shops […] that are going to be playlist friendly.

    This is despite some music fans saying the music they experience as “life-changing, really profound” is different from the songs they play most often.

    Songs streamed are only monetised after 30 seconds. This has created “a particular emphasis placed on perfecting song intros […] songwriters would just dive directly into the chorus”. So, no more songs with long waits for the vocals, like U2, the Temptations, Dire Straits or Pink Floyd.

    Artists who want their songs to appear on playlists need them to match a particular mood or context. This means songs increasingly “remain in a single emotional register throughout”.

    It may mean artists are less likely to release songs with marked tempo changes, such as Dexys’ Midnight Runners’ Come on Eileen (1982), Led Zeppelin’s Stairway to Heaven (1971), Queen’s Bohemian Rhapsody (1975) or Franz Ferdinand’s Take Me Out (2004). There may still be much smaller tempo changes, such as Taylor Swift’s Evermore from 2020.

    Artists may now be less likely to release songs with marked tempo changes, such as Dexys’ Midnight Runners’ Come on Eileen.

    The “Spotify for artists” service provides artists with data about the streaming of their songs. A band planning a tour can see in which cities or countries they are most popular. They can even alter their set lists to include the songs particularly popular in particular areas.

    But Spotify monitors use of this facility, Pelly writes – and it is not clear how they use the data. Over time, it may encourage artists to repeat aspects of their most popular songs, rather than innovate and evolve.

    A serious look

    The book is interesting and informative, but somewhat dryer than some other recent exposes of the tech sector. Partly this is because Ek is a less colourful character than X’s Elon Musk, or Meta’s Mark Zuckerberg and Sheryl Sandberg.


    Pelly does not provide the witty lines of tech journalist Kara Swisher’s Burn Book. She is not a gossipy former insider, like director of global public policy at Meta, Sarah Wynn-Williams.

    As an economist, I felt the book complemented sociologist Michael Walsh’s Streaming Sounds: Musical Listening in the Digital Age. Walsh describes the demand for music streaming. Pelly analyses the supply side.

    Pelly rightly describes her book as a “serious look” at Spotify. It brings together a lot of useful information about the company and raises good questions about whether it is changing the music industry – and music itself – for the better.

    The debate will continue, as AI increases its influence and artists become more concerned about their songs being “TikTok friendly”, as well as “Spotify friendly”. Perhaps there will be more songs like Steve’s Lava Chicken from A Minecraft Movie. Just 34 seconds long, it recently became the shortest song to make the UK top 40.

    John Hawkins 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. Spotify continues to change music. What’s next – will AI musicians replace music made by humans? – https://theconversation.com/spotify-continues-to-change-music-whats-next-will-ai-musicians-replace-music-made-by-humans-253630

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: F&M Bank Announces Resignation of Board Member Jo Ellen Hornish

    Source: GlobeNewswire (MIL-OSI)

    ARCHBOLD, Ohio, May 20, 2025 (GLOBE NEWSWIRE) — F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), today announced that Jo Ellen Hornish has resigned from the Company’s Board of Directors following its May 20, 2025, board meeting.

    Since 2013, Mrs. Hornish has served as a valued member of the Board, contributing her business acumen and leadership experience to the Company’s strategic vision. Her insights, particularly in the transportation and manufacturing industries, along with her service on the Audit Committee and the Corporate Governance and Nominating Committee, have helped guide the Bank through important growth and development phases.

    “On behalf of the entire Board and executive leadership team, I want to extend our deepest thanks to Jo Ellen for her dedication to F&M,” said Lars Eller, President and CEO of F&M Bank. “Her guidance and steady leadership have been instrumental in shaping the success we enjoy today. We are sincerely grateful for the time, talent, and energy she has devoted to the Board and the communities we serve.”

    Mrs. Hornish, President and CEO of several Defiance, Ohio -based companies, brought a wealth of corporate and community leadership experience to the Board. Her commitment to both local and national philanthropic efforts is also a testament to her deep-rooted values and community spirit.

    F&M extends its sincere gratitude to Mrs. Hornish and wishes her continued success in her future endeavors.

    About F&M Bank:
    F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in Troy, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio.

    Safe harbor statement
    Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

    Company Contact: Investor and Media Contact:
    Lars B. Eller
    President and Chief Executive Officer
    Farmers & Merchants Bancorp, Inc.
    (419) 446-2501
    leller@fm.bank    		 Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    The MIL Network –

  • MIL-OSI: Plantro Ltd. Increases Purchase Price under All-Cash Tender Offer to Acquire Class A Shares of Information Services Corporation to $30 per Class A Share

    Source: GlobeNewswire (MIL-OSI)

    Tender Offer Amended to up to 9.9% of Class A Shares

    Tender Offer Extended Until 5:00pm Eastern Time on June 3, 2025

    ST. HELIER, Jersey, May 20, 2025 (GLOBE NEWSWIRE) — Plantro Ltd. (“Plantro”) today announced that it is extending and amending its ongoing all-cash tender offer (the “Tender Offer”) to acquire class A limited voting shares (the “Class A Shares”) in the capital of Information Services Corporation (TSX: ISC) (“ISC” or the “Company”).

    Pursuant to the terms of a third amended and restated offer document dated May 20, 2025 (the “Offer Document”), Plantro has increased the consideration under the Tender Offer to $30 per Class A Share, payable in cash (the “Tender Price”). Plantro has also extended the expiry date of the Tender Offer to 5:00pm (Eastern Time) on June 3, 2025, unless the Tender Offer is further varied, extended, or withdrawn in accordance with the terms of the Offer Document (the “Expiry Time”). The maximum number of Class A Shares to be purchased under the Tender Offer has been reduced to 1,398,887 Class A Shares, reflecting that, together with the 435,150 Class A Shares Plantro currently owns, the Tender Offer is for a maximum of 9.9% of ISC’s issued and outstanding Class A Shares.

    Due in part to the extreme lack of trading liquidity of the Class A Shares, Plantro reduced the size of the Tender Offer and increased the Tender Price. The Tender Offer is an opportunity for shareholders weary of the ISC board of directors’ continued refusal to take actions to unlock value for shareholders, to realize full and fair value for their Class A Shares.

    Plantro notes that the Tender Price of $30 is above the 12-month price target of $28 per Class A Share maintained by the sell-side analyst for ISC’s primary financial advisor and equals the 12-18 month price target provided by a sell-side analyst of the other major Canadian investment bank providing research coverage of the Company.

    Finally, based on Plantro’s calculations, the Tender Price values the Company at approximately 20.3x Price to LTM EPS, 19.0x Enterprise Value to LTM Levered Free Cash Flow and 9.6x Enterprise Value to LTM EBITDAi.

    Shareholders are urged to consider this attractive opportunity to receive certainty of value and all-cash consideration.

    Shareholders of ISC who have already validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer and will be deemed to have deposited their Class A Shares at the increased Tender Price. No Class A Shares will be taken up and paid for by Plantro pursuant to the Tender Offer until after the Expiry Time.

    Other than as set out herein, all other terms of the Tender Offer remain unchanged. Details of the Tender Offer, including instructions for tendering Class A Shares, are included in the Offer Document. The Offer Document and the third amended and restated letter of transmittal dated May 20, 2025 (together with the Offer Document, the “Offer Documents”) will be filed and made available on ISC’s SEDAR+ profile at www.sedarplus.ca. Shareholders of ISC should carefully read the Offer Documents prior to making a decision with respect to the Tender Offer.

    About Plantro

    Plantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses.

    Shareholder Questions

    Shareholders of ISC who have questions with respect to the Tender Offer, or who need assistance in depositing their Class A Shares, should please contact the depositary or the information agent for the Tender Offer at the contact details below:

    Depositary: Odyssey Trust Company

    Toll Free (US & Canada): 1-888-290-1175
    Calls (All Regions): 587-885-0960
    Email: corp.actions@odysseytrust.com

    Information Agent: Carson Proxy

    North America Toll Free: 1-800-530-5189
    Local and Text: 416-751-2066
    Email: info@carsonproxy.com

    Cautionary Statement Regarding Forward-Looking Information

    This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, taking up and paying for Class A Shares deposited under the Tender Offer, and the expiry of the Tender Offer, contain “forward-looking information” and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements.

    Statements containing forward-looking information are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future outcomes expressed or implied by the statements containing forward-looking information.

    Although Plantro believes that the expectations reflected in statements containing forward-looking information herein made by it (and not, for greater certainty, any forward-looking statements attributable to the Company) are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include the assumption that the business and economic conditions affecting the Company’s operations will continue substantially in the current state, including, without limitation, with respect to industry conditions, general levels of economic activity, continuity and availability of personnel, local and international laws and regulations, foreign currency exchange rates and interest rates, inflation, taxes, that there will be no unplanned material changes to the Company’s operations, and that the Company’s public disclosure record is accurate in all material respects and is not misleading (including by omission).

    Plantro cautions that the foregoing list of material factors and assumptions is not exhaustive. While these factors and assumptions are considered by Plantro to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Plantro and there is no assurance that they will prove correct.

    Important facts that could cause outcomes to differ materially from those expressed or implied by such forward-looking information include, among other things, actions taken by the Company in respect of the Tender Offer, the content of subsequent public disclosures by the Company, the failure to satisfy the conditions to the Tender Offer, general economic conditions, legislative or regulatory changes and changes in capital or securities markets. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although Plantro has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to Plantro or that Plantro presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

    Statements containing forward-looking information in this press release are based on Plantro’s beliefs and opinions at the time the statements are made, and there should be no expectation that such forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Plantro disclaims any obligation to do so, except as required by applicable law. All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

    Non-IFRS Measures

    This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of the Company’s results of operations from the Company’s perspective as disclosed by the Company in its public disclosure. The Company’s definitions of non-IFRS measures may not be the same as the definitions for such measures used by other companies or investors in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. Please refer to the Company’s public disclosure documents, which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca for further details regarding its use of non-IFRS measures.

    Media Contact: Gagnier Communications

    Riyaz Lalani / Dan Gagnier
    Email: Plantro@gagnierfc.com

    i LTM is last twelve months to March 31, 2025. EPS equates to the sum of ISC’s Earnings per share, diluted for the past four quarters; Levered Free Cash Flow is equal to ISC’s Net cash flow provided by operating activities less: Additions to property, plant and equipment, Additions to intangible assets, Interest paid and Interest paid on lease obligations net of Interest received, and Principal repayments on lease obligations; EBITDA is equal to Net income before Depreciation and amortization, Net finance expense and Income tax expense.

    The MIL Network –

  • MIL-OSI: Golar LNG Limited: 2025 AGM Results Notification

    Source: GlobeNewswire (MIL-OSI)

    Golar LNG Limited (the “Company”) advises that the 2025 Annual General Meeting of the Company was held on May 20, 2024 at 10:00 am (Bermuda time) at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda.  The audited consolidated financial statements for the Company for the year ended December 31, 2024 were presented at the Meeting.

    The following resolutions were passed:

    1.   To set the maximum number of Directors to be not more than eight.
    2.   To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit.
    1.  To re-elect Tor Olav Trøim as a Director of the Company.
    2.  To re-elect Daniel W. Rabun as a Director of the Company.
    3.  To re-elect Carl E. Steen as a Director of the Company.
    4.  To re-elect Niels G. Stolt-Nielsen as a Director of the Company.
    5. To re-elect Lori Wheeler Naess as a Director of the Company.
    6. To elect Benoît de la Fouchardiere as a Director of the Company.
    7. To elect Mi Hong Yoon as a Director of the Company.
    8. To re-appoint Ernst & Young LLP of London, England as auditors and to authorise the Directors to determine their remuneration.
    9. To approve remuneration of the Company’s Board of Directors of a total amount of fees not to exceed US$2,000,000.00 for the year ended December 31st, 2025.

    Golar would like to thank Georgina Sousa and Thorleif Egeli who retired from Golar’s Board of Directors today after two decades of combined service to the Company. Their contribution to the governance and transformation of Golar from a shipping company to a pure play FLNG business has been invaluable and we wish them well.

    Following their election today as Directors, Golar also welcomes Benoît de la Fouchardiere and Mi Hong Yoon to its Board. Both have already contributed to Golar’s success – in the case of Benoît, through his part in contracting FLNG Hilli in Cameroon; and in the case of Mi Hong – through her role as Company Secretary.  The Company looks forward to benefiting from their relevant and extensive experience as it seeks to grow its leading FLNG offering.

    Hamilton, Bermuda
    May 20, 2025

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI Africa: Secretary-General’s remarks to the 2025 ECOSOC Operational Activities for Development Segment [bilingual as delivered, scroll down for all-English and all-French]

    Source: United Nations – English

    xcellencies, ladies and gentlemen,

    Thank you for taking part in this important forum in an important year.

    We’re celebrating the 80th anniversary of the United Nations.   

    But this milestone is tempered by a stark, undeniable reality that resonates on every page of the report I am presenting today.

    With less than five years to go to the 2030 deadline, we are facing nothing short of a development emergency.

    The Sustainable Development Goals are alarmingly off-track.

    And some of the hard-won gains made in recent years are getting derailed.

    Progress is too slow in the fight against poverty, hunger, inequality, the climate crisis, decaying infrastructure, and under-resourced education, health and social protection systems.

    We must never forget that a development emergency is, at its root, a human emergency.

    The lives and futures of millions of people hang in the balance.

    This development emergency is also a funding emergency.

    Resources are shrinking across the board — and have been for some time.

    For example, as detailed in my report, total financial contributions to the UN development system dropped by $9 billion — or 16 per cent — in 2023 from the year before.

    We can imagine the number of 2024 taking into account what we have witnessed in the recent decisions.   

    Our organization is increasingly asked to do more with less — a trend that will continue for the foreseeable future.

    This year, donors are pulling the plug on aid commitments and delivery at historic speed and scale.

    But the report we’re discussing today also carries an important message of hope.

    Hope found in the progress we’ve achieved together to reform and reposition the UN development system, making it more efficient and cost-effective.

    Hope in the UN80 initiative to build on these reforms, and drive more of the change we need across the system for a more impactful, cohesive and efficient organization.

    Hope in your continued strong support of, and engagement with, our Resident Coordinators and Country Teams.

    And hope that lies in the potential of the Pact for the Future to accelerate progress towards the Sustainable Development Goals — a Pact that secured consensus at the Summit of the Future.  

    Let me be clear.

    While the context has shifted since the Pact’s adoption, its commitments are more important than ever.

    This includes its bold calls for action on all the elements required to boost progress on sustainable development — including financing for development, the provision of debt relief, and strengthening the international financial architecture.

    We cannot allow headwinds to blow these commitments off course.

    We will continue working closely with all Member States and partners to keep our agenda on track, deepen our ongoing transformation, and to do so in the context of the UN80 initiative to drive progress across the system.

    And we will ensure we can fully deliver and maximize the benefits of every single mandate of the landmark General Assembly resolution 72/279 that ushered in the reforms of the UN development system.

    Excellencies,

    In this spirit, and guided by the report under discussion today, I’d like to highlight four areas where we are making progress, where more is needed, and how Member States can support this work.  

    First — we must hold fast to our commitment to the Sustainable Development Goals.

    This is a critical year for development.

    But across the board, we face a crisis in the means of implementation — from financing to trade, governance and institutional capacity to accelerate progress. 

    Acceleration means Member States keeping alive the bold commitments they made in adopting the Goals in 2015, as well as through the Pact for the Future.

    These include easing the debt burden on developing countries, scaling innovative sources of finance, and pushing forward on reforms to the international financial architecture.

    The upcoming Fourth International Conference on Financing for Development in Sevilla will be a key moment in driving the change we need.

    Acceleration requires bold transformations.

    We must continue traveling the clear pathways to progress outlined in the report — key areas where we can spur progress across all the Goals, such as food systems, energy access, digital connectivity, and supporting economic growth through trade. 

    Now is the time to build more political will and institutional capacity to support these essential shifts and drive progress.

    Second — we will continue tailoring our operations to the needs and priorities of host countries.

    We know we’re on the right track.

    In the last year alone, Resident Coordinators supported over 160 countries.

    Our work across the system and with governments is becoming more integrated and coordinated every year.

    87 per cent of host governments — and 83 per cent of donor country governments — agreed that UN entities are working more collaboratively than before the reform.

    And 98 per cent of host governments agreed that the UN activities, as articulated in our Cooperation Frameworks, are closely or very closely aligned to national priorities.

    The evidence is clear.

    The reinvigorated Resident Coordinator system we have built together is fast-becoming a launchpad for providing deeper development impact for people and planet alike:

    By gathering partners together to shape policy and financing solutions to accelerate development…

    By supporting countries’ efforts on financing, data-collection, trade and sustainable economic growth…

    And by constantly striving to find efficiencies and innovations, and drive accountability and results across our work together.

    We are rightly proud of our work, and we will protect and build on this as we move forward.

    We know we can do better. And we will.

    Despite high levels of support, the report shows worrying gaps between the priorities of our Cooperation Frameworks and the operational, governance and financial tools to bring them to life.

    Moreover, the Management Accountability Framework established to ensure greater accountability in collective UN efforts is not being applied evenly across the system.

    Our newly established evaluation office for the development system is now preparing its first independent report to this body this year to continue driving accountability and results, and ensure greater alignment of UN configuration and programming with country needs.

    I ask all Member States to support this important work.

    Third — funding.

    I am deeply concerned about the system’s funding situation.  

    Core contributions to development agencies are insufficient, plunging to 16.5 per cent of total funding, with these contributions declining to 12 per cent for some agencies. 

    This is a far cry from the 30 per cent target countries committed to in the Funding Compact.

    In December, the General Assembly agreed to my proposal to secure $53 million from the regular budget for the Resident Coordinator system — a much-needed boost at a critical time.

    To be entirely frank, I have to say that the proposal was much higher but at least this compromise was found. 

    But this minimum level of support is insufficient to reach the maximum ambition we need.

    Our ability to drive development and deliver support in a sustained way is at risk — at a moment when countries need us most.

    For our part, we will continue working closely with you to close funding gaps, and ensure joint programming is well-funded and directed to the most vulnerable people and communities.

    But more than ever, we need flexible, sustainable, predictable and innovative sources of funding. 

    I urge Member States to implement the new Funding Compact, without delay.

    In the current context of shrinking resources, the Funding Compact becomes even more fundamental — in particular, its emphasis on pooled funds that allow for more strategic resource allocation depending on actual needs and priorities on the ground.  

    Enfin quatrièmement, nous continuerons de chercher à optimiser l’utilisation des ressources consacrées au développement.

    Le rapport démontre que nos réformes portent leurs fruits : nous avons réalisé plus de 592 millions de dollars d’économies en 2024, soit bien plus que notre objectif initial de 310 millions de dollars.

    Ces économies ont été rendues possibles grâce aux efforts déployés par chaque entité pour rationaliser les services et les chaînes d’approvisionnement, ainsi qu’à un recours accru aux services partagés, notamment s’agissant des voyages, des services de conférence et des fonctions administratives, et à d’autres gains d’efficacité importants.

    Mais nous pouvons et devons en faire plus.

    Dès le début de mon mandat, nous avons lancé un programme de réforme ambitieux destiné non seulement à améliorer nos méthodes de travail et nos résultats, mais aussi à explorer toutes les pistes possibles pour réaliser des économies et des gains d’efficacité.

    L’Initiative ONU80 offre une excellente occasion de poursuivre sur cette lancée.

    En dégageant rapidement des moyens de gagner en efficacité et d’améliorer nos méthodes de travail.

    En consacrant une plus grande partie de nos ressources aux programmes de développement plutôt qu’aux coûts administratifs.

    En procédant à un examen rigoureux de l’exécution des mandats qui nous sont confiés par les États Membres – et dont le nombre a considérablement augmenté ces dernières années.

    Et en menant un examen stratégique des changements plus profonds et plus structurels ainsi qu’un réalignement des programmes au sein du système des Nations Unies.

    L’Initiative ONU80 n’est pas une réponse aux coupes budgétaires mondiales…

    Mais une réponse aux besoins mondiaux.

    Aux besoins des populations du monde entier.

    À la nécessité de faire en sorte que ces personnes soient soutenues comme il se doit, à travers des programmes adaptés au contexte national.

    Et à l’impératif de travailler de façon aussi efficace, rationnelle et utile que possible.

    Là encore, nous aurons besoin de l’appui de tous les États Membres pour rendre nos activités plus efficientes.

    Excellences, Mesdames et Messieurs,

    Alors que nous poursuivons ce chemin de réforme et de renouveau, nous devons garder à l’esprit le plus important : 

    Celles et ceux qui, dans le monde entier, comptent sur nous.

    Le rapport que nous examinons aujourd’hui ne se limite pas aux chiffres.

    Le rapport concerne les services et l’aide que nous apportons à certaines des personnes et des communautés les plus vulnérables et défavorisées de la planète.

    Il concerne les contribuables du monde entier, dont le dur labeur finance notre important travail.

    Il concerne notre capacité à mieux répondre aux attentes des États Membres et agir conformément aux priorités de chaque pays.

    Et il concerne notre quête constante d’efficacité, d’efficience et de responsabilité – tout en restant fidèles aux valeurs fondamentales qui nous animent depuis le tout début.

    Continuons d’œuvrer dans l’unité et la solidarité pour construire une ONU encore plus forte et encore plus efficace – prête à relever les défis d’aujourd’hui et de demain.

    Une ONU adaptée à sa mission et prête à agir.

    Nous comptons sur le plein soutien des États Membres pour continuer à aller de l’avant.

    Je vous remercie.

    *****
    [all-English]

    Excellencies, ladies and gentlemen,

    Thank you for taking part in this important forum in an important year.

    We’re celebrating the 80th anniversary of the United Nations.   

    But this milestone is tempered by a stark, undeniable reality that resonates on every page of the report I am presenting today.

    With less than five years to go to the 2030 deadline, we are facing nothing short of a development emergency.

    The Sustainable Development Goals are alarmingly off-track.

    And some of the hard-won gains made in recent years are getting derailed.

    Progress is too slow in the fight against poverty, hunger, inequality, the climate crisis, decaying infrastructure, and under-resourced education, health and social protection systems.

    We must never forget that a development emergency is, at its root, a human emergency.

    The lives and futures of millions of people hang in the balance.

    This development emergency is also a funding emergency.

    Resources are shrinking across the board — and have been for some time.

    For example, as detailed in my report, total financial contributions to the UN development system dropped by $9 billion — or 16 per cent — in 2023 from the year before.

    We can imagine the number of 2024 taking into account what we have witnessed in the recent decisions. 

    Our organization is increasingly asked to do more with less — a trend that will continue for the foreseeable future.

    This year, donors are pulling the plug on aid commitments and delivery at historic speed and scale.

    But the report we’re discussing today also carries an important message of hope.
    Hope found in the progress we’ve achieved together to reform and reposition the UN development system, making it more efficient and cost-effective.

    Hope in the UN80 initiative to build on these reforms, and drive more of the change we need across the system for a more impactful, cohesive and efficient organization.

    Hope in your continued strong support of, and engagement with, our Resident Coordinators and Country Teams.

    And hope that lies in the potential of the Pact for the Future to accelerate progress towards the Sustainable Development Goals — a Pact that secured consensus at the Summit of the Future.  

    Let me be clear.

    While the context has shifted since the Pact’s adoption, its commitments are more important than ever.

    This includes its bold calls for action on all the elements required to boost progress on sustainable development — including financing for development, the provision of debt relief, and strengthening the international financial architecture.

    We cannot allow headwinds to blow these commitments off course.

    We will continue working closely with all Member States and partners to keep our agenda on track, deepen our ongoing transformation, and to do so in the context of the UN80 initiative to drive progress across the system.

    And we will ensure we can fully deliver and maximize the benefits of every single mandate of the landmark General Assembly resolution 72/279 that ushered in the reforms of the UN development system.

    Excellencies,

    In this spirit, and guided by the report under discussion today, I’d like to highlight four areas where we are making progress, where more is needed, and how Member States can support this work.  

    First — we must hold fast to our commitment to the Sustainable Development Goals.

    This is a critical year for development.

    But across the board, we face a crisis in the means of implementation — from financing to trade, governance and institutional capacity to accelerate progress. 

    Acceleration means Member States keeping alive the bold commitments they made in adopting the Goals in 2015, as well as through the Pact for the Future.

    These include easing the debt burden on developing countries, scaling innovative sources of finance, and pushing forward on reforms to the international financial architecture.

    The upcoming Fourth International Conference on Financing for Development in Sevilla will be a key moment in driving the change we need.

    Acceleration requires bold transformations.

    We must continue traveling the clear pathways to progress outlined in the report — key areas where we can spur progress across all the Goals, such as food systems, energy access, digital connectivity, and supporting economic growth through trade. 

    Now is the time to build more political will and institutional capacity to support these essential shifts and drive progress.

    Second — we will continue tailoring our operations to the needs and priorities of host countries.

    We know we’re on the right track.

    In the last year alone, Resident Coordinators supported over 160 countries.

    Our work across the system and with governments is becoming more integrated and coordinated every year.

    87 per cent of host governments — and 83 per cent of donor country governments — agreed that UN entities are working more collaboratively than before the reform.

    And 98 per cent of host governments agreed that UN activities, as articulated in our Cooperation Frameworks, are closely or very closely aligned to national priorities.

    The evidence is clear.

    The reinvigorated Resident Coordinator system we have built together is fast-becoming a launchpad for providing deeper development impact for people and planet alike:

    By gathering partners together to shape policy and financing solutions to accelerate development…

    By supporting countries’ efforts on financing, data-collection, trade and sustainable economic growth…

    And by constantly striving to find efficiencies and innovations, and drive accountability and results across our work together.

    We are rightly proud of our work, and we will protect and build on this as we move forward.

    We know we can do better. And we will.

    Despite high levels of support, the report shows worrying gaps between the priorities of our Cooperation Frameworks and the operational, governance and financial tools to bring them to life.

    Moreover, the Management Accountability Framework established to ensure greater accountability in collective UN efforts is not being applied evenly across the system.

    Our newly established evaluation office for the development system is now preparing its first independent report to this body this year to continue driving accountability and results, and ensure greater alignment of UN configuration and programming with country needs.

    I ask all Member States to support this important work.

    Third — funding.

    I am deeply concerned about the system’s funding situation.  

    Core contributions to development agencies are insufficient, plunging to 16.5 per cent of total funding, with these contributions declining to 12 per cent for some agencies. 

    This is a far cry from the 30 per cent target countries committed to in the Funding Compact.

    In December, the General Assembly agreed to my proposal to secure $53 million from the regular budget for the Resident Coordinator system — a much-needed boost at a critical time.

    To be entirely frank, I have to say that the proposal was much higher but at least this compromise was found. 

    But this minimum level of support is insufficient to reach the maximum ambition we need.

    Our ability to drive development and deliver support in a sustained way is at risk — at a moment when countries need us most.

    For our part, we will continue working closely with you to close funding gaps, and ensure joint programming is well-funded and directed to the most vulnerable people and communities.

    But more than ever, we need flexible, sustainable, predictable and innovative sources of funding. 

    I urge Member States to implement the new Funding Compact, without delay.
    In the current context of shrinking resources, the Funding Compact becomes even more fundamental — in particular, its emphasis on pooled funds that allow for more strategic resource allocation depending on actual needs and priorities on the ground.  

    And fourth — we will continue pushing for efficiencies that maximize the use of development resources.

    The report demonstrates that our reforms are achieving results — with over $592 million in efficiencies in 2024, well above our initial target of $310 million.

    These savings were achieved through individual agency efforts to streamline services and supply chains, as well as through the increased use of shared services across entities — including travel, conference and administrative functions, and other key efficiencies.

    But we can and must do more.

    From the very beginning of my mandate, we embarked on an ambitious reform agenda to strengthen not only how we work and deliver — but how we leave no stone unturned in finding cost-savings and efficiencies.

    The UN80 initiative is an important opportunity to carry this work forward.

    By rapidly identifying efficiencies and improvements in the way we work.

    By ensuring that a greater share of our resources are allocated for development programmes rather than administrative costs. 

    By thoroughly reviewing the implementation of all mandates given to us by Member States, which have significantly increased in recent years.   

    And through a strategic review of deeper, more structural changes and programme realignment in the UN System.

    UN80 is not about responding to global cuts.

    It’s about responding to global needs.

    The needs of people around the world.
    The need to ensure that we support them in the right way, with the right programmes and country configurations.

    And the need to be as efficient, streamlined and impactful as we can be.

    Again, the support of all Member States will be critical as we strive to become more cost-effective in our operations.

    Excellencies, Ladies and Gentlemen,

    As we continue travelling this road to reform and renewal, we must keep our focus where it belongs:  

    On the people around the world who are counting on us to get this right.

    The report we are discussing today is not just about numbers.

    It’s about the services and support we provide to some of the most vulnerable and underserved people and communities on earth.

    It’s about hardworking taxpayers around the world who underwrite our important work.

    It’s about responding more effectively to the expectations of Member States and aligning with national priorities.

    And it’s about our constant pursuit of efficiency, effectiveness and accountability, while staying true to values that have driven our mission from the very start.

    Let’s continue working as one, in solidarity, to build an even stronger and more effective United Nations — one that is ready to meet the challenges of today and tomorrow. 

    One that is fit for purpose and ready to serve.

    We count on the full support of Member States as we move forward.

    Thank you.

    ******

    [all-French]

    Excellences, Mesdames, Messieurs,

    Je vous remercie de prendre part à cette manifestation de premier plan en cette année importante.

    L’Organisation des Nations Unies fête cette année ses 80 ans.

    Mais cet anniversaire est tempéré par une réalité dure et indéniable, qui transparaît à chaque page du rapport que je présente aujourd’hui.

    À moins de cinq ans de l’échéance de 2030, nous sommes face à une véritable crise du développement.

    La réalisation des objectifs de développement durable accuse un retard alarmant.

    Et certains des gains durement acquis ces dernières années risquent d’être réduits à néant.

    Face à la pauvreté, à la faim, aux inégalités, à la crise climatique, aux infrastructures en déclin et au manque de ressources dans l’éducation et la protection sociale, les progrès demeurent trop lents.

    Il ne faut pas perdre de vue qu’une crise du développement est, avant tout, une crise humaine.

    La vie et l’avenir de millions de personnes sont en jeu.

    Cette crise du développement est aussi une crise du financement.
    Dans tous les secteurs, les ressources se réduisent comme peau de chagrin, et ce depuis un certain temps.

    Ainsi, comme indiqué dans mon rapport, les contributions financières versées en 2023 au système des Nations Unies pour le développement ont chuté de 9 milliards de dollars US – soit 16 % – par rapport à l’année précédente.

    On peut imaginer les chiffres de 2024 en tenant compte de ce que nous avons constaté dans les décisions récentes.

    Notre Organisation est de plus en plus appelée à faire plus avec moins, et cela ne devrait pas changer de sitôt.

    Cette année, plusieurs bailleurs de fonds mettent un coup de frein sans précédent à leurs engagements en matière d’aide sur le terrain.

    Cela étant, le rapport que nous examinons aujourd’hui est également porteur d’un vrai message d’espoir.

    Cet espoir repose sur plusieurs éléments : sur les progrès que nous avons accomplis ensemble dans la réforme et le repositionnement du système des Nations Unies pour le développement, le rendant plus efficace et plus économique ;

    Sur l’Initiative ONU80, qui, dans le prolongement de ces réformes, induira les changements dont nous avons besoin à travers l’ensemble du système pour une organisation plus efficace, plus cohésive et plus efficiente ;

    Sur l’appui résolu que vous continuez de manifester à nos coordonnatrices et coordonnateurs résidents et à nos équipes de pays, et sur votre détermination à travailler à leurs côtés dans un esprit de collaboration ;

    Et sur le potentiel qui réside dans le potentiel du Pacte pour l’avenir d’accélérer les progrès vers les Objectifs de développement durable – un Pacte qui a fait l’objet d’un consensus lors du Sommet de l’avenir.

    Soyons clairs.

    Le Pacte a beau avoir été adopté dans un contexte différent, les engagements qui y sont énoncés demeurent plus importants que jamais.

    Ils exigent notamment de l’audace dans tous les aspects propices au développement durable – y compris le financement du développement, l’allègement de la dette et le renforcement de l’architecture financière internationale.

    Nous ne pouvons laisser les difficultés du moment nous faire dévier de ces engagements.

    Nous continuerons de collaborer étroitement avec tous les États Membres et tous les partenaires pour poursuivre la bonne mise en œuvre de nos priorités, parfaire la transformation de l’Organisation et, dans le cadre de l’Initiative ONU80, encourager des progrès concrets dans l’ensemble du système.

    Nous veillerons également à exécuter pleinement et de manière optimale tous les mandats prévus dans la résolution 72/279 de l’Assemblée générale, texte majeur qui a ouvert la voie à la réforme du système des Nations Unies pour le développement.

    Excellences,

    Dans ce contexte, et dans le droit fil du rapport qui est à l’examen aujourd’hui, je voudrais souligner quatre points pour récapituler les progrès que nous accomplissons, les domaines où nous devons redoubler d’efforts et l’aide que les États Membres peuvent apporter en ce sens.

    Premièrement, nous devons garder le cap sur les objectifs de développement durable.

    Cette année est cruciale pour le développement.

    Pourtant, nous assistons à une crise généralisée des moyens de mise en œuvre, qui touche aussi bien le financement que le commerce, la gouvernance ou la capacité institutionnelle à accélérer les progrès.

    Si l’on veut accélérer la cadence, il faut que les États Membres honorent les engagements ambitieux qu’ils ont pris en 2015 en adoptant les ODD et dans le cadre du Pacte pour l’avenir.

    Cela inclut notamment l’allègement du fardeau de la dette des pays en développement, la mobilisation de sources de financement innovantes et de faire avancer la réforme de l’architecture financière internationale.

    La quatrième Conférence internationale sur le financement du développement, qui se tiendra à Séville, constituera un moment clé moment clé dans la conduite des changements nécessaires.  

    Pour passer à la vitesse supérieure, il faut engager une transformation audacieuse.

    Nous devons poursuivre la stratégie que nous avons clairement définie en vue de la réalisation de tous les Objectifs, notamment dans les domaines des systèmes alimentaires, de l’accès à l’énergie, de la desserte numérique ainsi que du commerce au service de la croissance économique.

    Le moment est venu de mobiliser une plus grande volonté politique et de renforcer les capacités institutionnelles pour accompagner ces transformations essentielles et insuffler une dynamique de progrès.

    Deuxièmement, nous continuerons d’adapter nos opérations aux besoins et aux priorités des pays hôtes.

    Nous savons que nous sommes sur la bonne voie.

    L’année dernière, les coordonnatrices et coordonnateurs résidents ont apporté un appui concret dans plus de 160 pays.

    Le travail mené dans les entités du système et avec les gouvernements gagne chaque année en intégration et en coordination.

    87 % des pays hôtes – et 83 % des pays donateurs – considèrent que les entités des Nations Unies collaborent plus qu’avant la réforme.
    Et 98 % des pays hôtes estiment que les activités de l’ONU prévues dans nos plans-cadres de coopération concordent bien ou très bien avec les priorités nationales.

    Les faits sont là.

    Le système redynamisé des coordonnatrices et coordonnateurs résidents que nous avons mis en place ensemble est en passe de devenir un outil encore plus efficace au service du développement, tant pour les populations que pour la planète.

    À cet égard, il réunit les partenaires pour définir l’action à mener et trouver des solutions financières visant à accélérer le développement…

    Il accompagne les pays dans les domaines du financement, de la collecte de données, de la réglementation, du commerce et de la croissance économique durable…

    Et il cherche continuellement à faire des économies, à innover, à faire respecter le principe de responsabilité et à encourager les progrès dans tous les aspects de notre action commune.

    Nous sommes profondément fiers de ce que nous faisons, et nous continuerons sur notre lancée tout en préservant les acquis.

    Nous pouvons faire mieux, nous le savons. Et nous le ferons.

    Malgré l’adhésion que suscite notre action, le rapport fait apparaître un contraste inquiétant entre les priorités fixées dans nos plans-cadres de coopération et les moyens opérationnels et financiers et les outils de gouvernance qui permettent de les concrétiser.

    En outre, le cadre de gestion et de responsabilité, établi pour renforcer la responsabilité dans l’action collective des Nations Unies, n’est pas appliqué de manière uniforme dans toutes les entités du système.

    Notre bureau chargé des évaluations dans le système pour le développement, récemment établi, rédige actuellement son premier rapport indépendant, qu’il présentera au Conseil économique et social cette année, et poursuivra son action pour favoriser la définition des responsabilités, concourir à l’amélioration des résultats et faire en sorte que la présence et les programmes des Nations Unies soient mieux adaptés aux besoins de chaque pays.

    Je demande à tous les États Membres d’appuyer ce travail essentiel.

    Troisièmement, le financement.

    Je suis très préoccupé par la situation financière du système.

    Les contributions aux ressources de base des organismes de développement sont insuffisantes : elles ne représentent plus que 16,5 % du financement total, voire 12 % pour certaines entités.

    On est bien loin de l’objectif de 30 % que les pays se sont engagés à atteindre dans le cadre du pacte de financement.

    En décembre, l’Assemblée générale a accepté la proposition que j’ai faite de prélever sur le budget ordinaire un montant de 53 millions de dollars pour le système des coordonnatrices et coordonnateurs résidents. C’est un coup de pouce indispensable à un moment critique.

    Pour être tout à fait franc, je dois dire que la proposition était beaucoup plus élevée, mais au moins ce compromis a été trouvé.

    Mais ce modeste niveau de soutien n’est pas à la hauteur de l’ambition nécessaire.

    Notre capacité à stimuler le développement et à apporter une aide durable est compromise, or c’est maintenant que les pays ont le plus besoin de nous.

    Nous continuerons à collaborer étroitement à vos côtés pour que les déficits de financement se résorbent et pour que la programmation conjointe soit dotée de moyens financiers suffisants et profite aux personnes et aux populations les plus vulnérables.

    Néanmoins, nous avons plus que jamais besoin de sources de financement souples, durables, prévisibles et novatrices.

    J’invite instamment les États Membres à mettre en œuvre sans délai le nouveau pacte de financement.

    À l’heure où les ressources s’amenuisent, le pacte de financement s’impose comme un dispositif incontournable, notamment par l’importance accordée aux fonds de financement commun, qui permettent d’allouer les ressources plus stratégiquement, en fonction des priorités et des besoins réels sur le terrain.

    Enfin quatrièmement, nous continuerons de chercher à optimiser l’utilisation des ressources consacrées au développement.

    Le rapport démontre que nos réformes portent leurs fruits : nous avons réalisé plus de 592 millions de dollars d’économies en 2024, soit bien plus que notre objectif initial de 310 millions de dollars.

    Ces économies ont été rendues possibles grâce aux efforts déployés par chaque entité pour rationaliser les services et les chaînes d’approvisionnement, ainsi qu’à un recours accru aux services partagés, notamment s’agissant des voyages, des services de conférence et des fonctions administratives, et à d’autres gains d’efficacité importants.

    Mais nous pouvons et devons en faire plus.

    Dès le début de mon mandat, nous avons lancé un programme de réforme ambitieux destiné non seulement à améliorer nos méthodes de travail et nos résultats, mais aussi à explorer toutes les pistes possibles pour réaliser des économies et des gains d’efficacité.

    L’Initiative ONU80 offre une excellente occasion de poursuivre sur cette lancée.

    En dégageant rapidement des moyens de gagner en efficacité et d’améliorer nos méthodes de travail.

    En consacrant une plus grande partie de nos ressources aux programmes de développement plutôt qu’aux coûts administratifs.

    En procédant à un examen rigoureux de l’exécution des mandats qui nous sont confiés par les États Membres – et dont le nombre a considérablement augmenté ces dernières années.

    Et en menant un examen stratégique des changements plus profonds et plus structurels ainsi qu’un réalignement des programmes au sein du système des Nations Unies.

    L’Initiative ONU80 n’est pas une réponse aux coupes budgétaires mondiales…

    Mais une réponse aux besoins mondiaux.

    Aux besoins des populations du monde entier.

    À la nécessité de faire en sorte que ces personnes soient soutenues comme il se doit, à travers des programmes adaptés au contexte national.

    Et à l’impératif de travailler de façon aussi efficace, rationnelle et utile que possible.

    Là encore, nous aurons besoin de l’appui de tous les États Membres pour rendre nos activités plus efficientes.

    Excellences, Mesdames et Messieurs,

    Alors que nous poursuivons ce chemin de réforme et de renouveau, nous devons garder à l’esprit le plus important : 

    Celles et ceux qui, dans le monde entier, comptent sur nous.

    Le rapport que nous examinons aujourd’hui ne se limite pas aux chiffres.

    Le rapport concerne les services et l’aide que nous apportons à certaines des personnes et des communautés les plus vulnérables et défavorisées de la planète.

    Il concerne les contribuables du monde entier, dont le dur labeur finance notre important travail.

    Il concerne notre capacité à mieux répondre aux attentes des États Membres et agir conformément aux priorités de chaque pays.

    Et il concerne notre quête constante d’efficacité, d’efficience et de responsabilité – tout en restant fidèles aux valeurs fondamentales qui nous animent depuis le tout début.

    Continuons d’œuvrer dans l’unité et la solidarité pour construire une ONU encore plus forte et encore plus efficace – prête à relever les défis d’aujourd’hui et de demain.

    Une ONU adaptée à sa mission et prête à agir.

    Nous comptons sur le plein soutien des États Membres pour continuer à aller de l’avant.

    Je vous remercie.
     

    MIL OSI Africa –

  • MIL-OSI Russia: China urges US to stop politicizing COVID-19 source tracing issue

    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

    GENEVA, May 20 (Xinhua) — A spokesperson for the Chinese Permanent Mission to the United Nations in Geneva on Tuesday called on the United States to stop political manipulation over the issue of tracing the source of COVID-19 and stop pressuring international organizations.

    As the official representative said in response to the baseless statements of the US delegation at the ongoing 78th session of the World Health Assembly, it is astonishing that the United States, a country that once announced its withdrawal from the World Health Organization (WHO), is now making baseless attacks on countries that have consistently increased their contribution to the organization. According to the diplomat, the US has clearly lost its basic understanding of truth and lies. China has always provided selfless support to the WHO, without any so-called undue influence, he emphasized.

    The official representative recalled that since the outbreak of COVID-19, China has shared with the international community information on the epidemiological situation and the genomic sequence of the virus in the shortest possible time. In addition, the Chinese side has provided medical supplies and financial assistance to the WHO and 153 countries, including the United States. All this, as the diplomat emphasized, demonstrates China’s firm commitment to protecting the common well-being of all mankind.

    He noted that in an effort to carefully conceal their ineffective anti-epidemic measures, some countries resort to denigrating others. In his opinion, such attempts to politicize pandemic issues are disgusting and doomed to failure.

    China is calling on the United States to share data on early cases with the WHO and to disclose information about the Fort Detrick facility and the network of U.S. biological laboratories around the world, an official said. The U.S. side should stop political manipulation around the issue of tracing the source of COVID-19 and stop pressuring international organizations, he concluded. –0–

    MIL OSI Russia News –

  • MIL-OSI United Nations: Deputy Secretary-General’s remarks at the Opening of ECOSOC Segment on Operational Activities for Development [as delivered]

    Source: United Nations secretary general

    Vice-Chair, Excellencies,
    Thank you very much, our Vice-Chair of ECOSOC.
    Excellencies,
    I continue to deeply appreciate the opportunity to join this segment – as the DSG, but much more importantly as the chair of the UN Sustainable Development Group, that represents over 38 agencies, funds and programs, and does an enormous amount of work to try to fulfil those ambitions of the SDGs and many more. Therefore, this segment really does embody the partnership needed to strengthen the UN development system. 
    I would like to thank the ECOSOC Bureau, especially the Vice-Chair Ambassador Szcserski, and its members for your continued engagement and leadership. I would also like to give a special welcome to our youth representative, Chelsea Antwan. We look very much forward to hearing your voice.
    The Operational Activities for Development segment of the Economic and Social Council still remains one of the most significant segments of ECOSOC.
    This segment plays a vital oversight role in reviewing how the United Nations development system is delivering on the promise to support countries in delivering on the Sustainable Development Goals.
    We are meeting at a pivotal moment, where the stakes could not be higher. Last year, member States were united in the Pact for the Future and in their commitment to strengthen collective efforts to turbocharge the full implementation of the 2030 Agenda for Sustainable Development.
    Following this momentous signal of unity, Member States adopted the 2024 Quadrennial Comprehensive Policy Review, the QCPR—a landmark resolution that sets the strategic direction for the UN development system over the next four years.
    The QCPR reflects a shared ambition to build on the progress that has been achieved since the 2018 repositioning of the development system.
    The 2024 QCPR reaffirms the central role of sustainable development in the work of the United Nation – and, of course, the urgency of accelerating action to meet the immediate and longer-term needs of countries. 
    Member States gave critical guidance to strengthen coordination across the system; challenged us to deepen transparency and accountability and sought to breathe new life into the ECOSOC OAS Segment.
    We will rise to your challenge. And in return, we ask that you continue to deepen your engagement in this session.
    OAS is a critical platform for Member States to hold the system accountable for results, and to share the lessons learned, and offer guidance that helps translate policy into impact on the ground.
    This segment is key to ensuring that Resident Coordinators have the tools and the backing they need to lead, and that UN Country Teams are equipped to deliver coherent support, and that development system is more strategic, efficient, effective, and results oriented.
    I would like to underscore here that Resident Coordinators coordination, convening and leveraging for the scale and the urgency that is needed to achieve the SDGs. But at the same time, the kind of support we would need for UN Country Teams that will have to rise to operationalize that support that is needed for our countries.
    We hope to see UN80 in the coming weeks and months playing a role in making that more efficient and effective. 
    Quality funding and financing continue to be significant enablers of a unified country team. The 6 transformative pathways are a means of enabling an effective and strategic response in any country.
    Critical investments with a catalytic impact are needed across food systems, energy access and affordability, digital connectivity, education, jobs and social protection, and climate change, biodiversity loss, and pollution. The reverberating impact of these investments are needed now more than ever.
    UN80 is a further opportunity to strengthen our work in this respect.
    I look forward to your engagement throughout this week as we collectively seek to drive forward ambition on the SDGs that will leave no one behind.  
    Together, we have the opportunity—and we have the responsibility—to ensure that the UN development system delivers fully on the promise for people, for planet, as we work towards a safer, more sustainable and prosperous world.
    Over the course of the next year, there are further opportunities for the international community to ground multilateral ambition.
    Through the Fourth International Conference on Financing for Development, we seek to agree steps that will unlock large-scale SDG investment to put the goals back on track, and to reform the international financial architecture to make it more inclusive and effective in dealing with the shocks and the crises. And we are watching closely the ambitions that we hope will come out of the current G7 finance ministers meeting in Canada.
    The Food Systems Stocktake +4 countries will come together to discuss how to move from plans to action, unlocking strategic investments for food systems transformation across all its dimensions –jobs, nutrition, adaptation to climate change in partnership with the private sector and IFIs. Our co-hosts in Italy and Ethiopia are driving this forward on the continent and beyond.
    In the World Social Summit, we look to go beyond what was agreed in Copenhagen and agree to commitments to strengthen the three pillars of social development, as articulated in the SDGs. And we look forward to seeing all of you in Doha.
    At COP 30 later this year, we seek to bridge the gap between Baku and Belem by agreeing on actions that can mobilize the $1.3 trillion annually in climate finance by 2035. We will build on the updated Nationally Determined Contribution plans presented by Member States, mainstreaming climate adaptation, mitigation and resilience plans across all sectors of the economy.
    Our host, Brazil, has already begun that strategic push with getting the economies, and the green economy, effectively up and running.
    I hope that you take most out of this segment, as we will be listening and we will be taking onboard your concerns, your reflections, your ideas, asking us the hard questions, sharing your guidance, and pressing us to go even further.
    As I come out of Angola where we held a meeting of all the RCs in Africa, it was evident that progress has been made, but the expectations are so much higher given the crisis that we find ourselves in. I believe we have the tools, we have the Members States commitments and frameworks to help us navigate this.
    We are determined to work with you on this as we move forward towards achieving Agenda 2030.
    Thank you.

    MIL OSI United Nations News –

  • MIL-OSI USA: Kugler, Commencement Remarks

    Source: US State of New York Federal Reserve

    Thank you, Stefano, and before I say anything else, congratulations to the Class of 2025!1 My family is here today, so let me acknowledge my husband Ignacio, my daughter Miri, my son Danny, and my parents who are watching from elsewhere. I start with family because I know it takes a village! So, I want to acknowledge the enormous accomplishment by the graduates and also by their families and friends who supported them through this journey. Let’s give all of them a big round of applause! I also want to thank the leaders of Berkeley’s economics program for giving me the privilege of returning here, as a graduate of this program, to be a part of what is, in fact, my very first economics commencement ceremony here at Berkeley.
    On a similar spring afternoon in 1997, when my classmates were walking across this stage, I was across the country, hurrying to finish my dissertation at the Brookings Institution and preparing to start my first job as an economist. I would have loved to be here, as you are, and I praise you for taking the time to share with your classmates, friends, and family this moment of recognition for the huge achievement today represents. But somehow, at the time of my graduation, I felt the need to get on with earning a living and moving forward with my life, as I am sure many of you are eager to do also.
    So, you can understand that this is a very special—and also a little strange— moment for me because it feels, in a way, like I am celebrating my own graduation 28 years later! I think it is also an unusual situation for all of you to listen to this speaker who was once where you are today. It is unusual because standing at this podium now is not just the person I have become in the decades since leaving Berkeley. Standing beside me, very close by today, is also the young woman I was in 1997, who was too busy to attend her own graduation. You will be hearing at times from both of us today, and we may even exchange a few words with each other.
    This sounds a little like that Aubrey Plaza movie you may have seen last year, in which a young woman gets advice from her older self. Unfortunately, unlike Aubrey Plaza’s character, I cannot help my younger version through the many challenges that she will face, and let me tell you, there were many challenges indeed, and yet here I am! Nevertheless, because of my proximity, today, to that younger self, I hope I can see the world a little more through your eyes, when I try to offer some words of wisdom. I know, I know, commencement speakers are expected to provide wisdom and advice. But really, today, I would like to mainly tell you that the wisdom and also the conviction of my younger self are what allowed me to navigate the challenges along the way. So, trust yourselves!
    As I have indicated, the younger version of me was quite impatient to get her professional life started and try to make a mark in the world. The older me would say, “Take your time, figure out who you are, who you will become! Life is long, and among other things, life teaches you to have patience to work for big goals.” There is merit to this advice, of course, but today I am thinking about how I felt when I was in your shoes, and I am thinking that one of the underappreciated gifts of younger people is, in fact, impatience. I will say more about this, but if you take a look around at all the many urgent challenges we face here in the U.S. and the world, many of which depend on the powerful tool of economics and its potential to make people’s lives better, then I would certainly say that some impatience is, indeed, very much what we need.
    I speak of economics as a tool because that is all that it is. It is not a philosophy, a value system, or a religion, although I acknowledge that some in our profession might treat it that way. Economics can’t answer all the questions we face in our lives. Economics can’t tell us how to treat each other, or what kind of world we should strive to create, but it is a means to those ends.
    And even the answers that economics can provide are always evolving, as our understanding of economic behavior and phenomena evolves. What we understand in economics has evolved in the years since I left Berkeley, and it will continue to evolve. While this understanding does change over time, I think of it as changing like the California landscape changes. Some towns and cities grow, some decline, and there is the occasional earthquake to shake things up. But the landmarks that guide us in economics—the Golden Gate, the Sierra Nevada—they have been standing for a while now, and I believe they will continue to stand for a long time to come.
    Using these landmarks, these foundational and time-tested insights, economics can indeed be a powerful tool. But it is a tool, only to the extent, like any other tool, that it is useful. A brilliant insight, if not applied, or tested, or employed for some useful purpose, is like the gadget you pick up at the hardware store and never use. It is just taking up space in the toolbox. When economics reveals how to use resources efficiently, how to raise production and income and lower costs, these insights are only useful if they are applied—if they win in the marketplace of ideas.
    As you embark on your careers as economists, and the myriad ways in which you can employ the knowledge and skills you have acquired, one cause that I hope you all will embrace is actively participating in this marketplace of ideas. I hope you do, because, from the level of the individual household to the loftiest decisions of business leaders and government, employing the foundational insights of economics is the difference between prosperity and the utterly avoidable lack of prosperity.
    It is tempting to think that time-tested and broadly accepted ideas are permanent. In fact, the debate has never ended on many foundational ideas of economics, some of which can seem counterintuitive to people. These are ideas that must be fought for, because, as I said, to lose that fight is to go backward and accept less prosperity.
    Among the aspirations that each of you hold as you leave the Greek theater today, I hope that you will use what you have learned at Berkeley to be part of this fight. I would go further and argue that, along with the diplomas that you are receiving today, you will also carry with you a special responsibility to promote these principles and use them to promote greater prosperity for all. I am not shy in saying that economists have such a responsibility, nor in saying that the learning you have acquired qualifies you to be an active participant in these debates. I believe your expertise matters, because, in the cacophony of opinions, and trolling, and disinformation that seems to crowd ever more into the marketplace of ideas each year, I cling to the idea that expertise still matters. In his book The Constitution of Knowledge: A Defense of Truth, Jonathan Rauch argues that, just as important as America’s written Constitution is an unwritten one, based on a widespread agreement on what is true and what is not true. Knowledge, he writes, as it is added to and preserved over time, is a special glue, that Gorilla clear and precise super glue, that helps to hold society together and settle many conflicts. Expertise matters as the basis for that knowledge. When your expertise as economists is absent, when your voices are absent from the debate, knowledge suffers, and we are all poorer because of it.
    Let me pause for a moment because I am hearing from my younger self just now that these commencement remarks are maybe getting a little heavy. I can understand how she feels. Think about how things looked in 1997. The Cold War was over! The tech boom was just taking off, which meant that Oakland was still affordable. Honestly, in hindsight life back then sounds a lot less complicated than it seems today. My first job was at Pompeu Fabra University in Spain, and my second was at a large public university, the University of Houston. I had some research ideas, mostly in the area of labor economics, and I found some great collaborators, and I was off to the races. Today, I realize that colleges and universities are facing challenges like never before, which means that the prospect of trying to make a career in academia is much less certain.
    Public service is another traditional destination for economists, and I have been very fortunate to be able to move forward in my career as an academic, while taking time out on three occasions to work in Washington—as chief economist at the Department of Labor, as the U.S. executive director at the World Bank, and now as a governor at the Federal Reserve Board. By contrast, it is, of course, to put it mildly, a very challenging time to be thinking about starting a career in public service, at least at the federal level.
    I can stand here today and lament the new challenges faced by you and by many others in the Class of 2025. I am a mom, and my kids are also facing new circumstances. But I also look back sometimes and wonder how I got here. And this is another case where I believe the 27-year-old me had more wisdom than I do. If she were crossing this stage today, with you, facing these undeniable challenges, I do not think she would be discouraged. She would stubbornly say: “I love economic research; I will find a way to become an academic.” If you told her about the challenges facing colleges and universities, she would say that it is simply unthinkable that America would not support the greatest post-secondary educational system in the world. And if you told her that a pendulum swing in opinion might limit opportunities in public service, she might say: “If the purpose of life is helping others, (and I think it is) then public service will be valued, and it is something I must do, and that I will do.”
    I think if you had told the 27-year-old me that she could not achieve these things, which she dreamed of, she would stubbornly refuse to accept it. And of course, this is the way that humankind eventually solves most big problems. More than anything else, it is stubborn determination, which I hope is in good supply among you already, and which I encourage you to cultivate. You have already, of course, one of the greatest assets that anyone can have to make a career in economics, which is an education from one of the greatest universities in the world—the University of California, Berkeley. When I attended here, I had the privilege of taking classes with four winners of the Nobel Prize, and many people tell me that, if anything, the faculty is even stronger today. In my recent work at the Fed, I have had occasion to cite research by six current faculty members in public speeches. You have learned from the best, and with your energy, expertise, impatience, and stubborn determination, I know that nothing will stop you! Whatever you choose to do, I hope you will make use of what you have learned at Berkeley to be an active part of that marketplace of ideas. Go forth from here and make the world a brighter and better place. Go seize the day as you head out Sather Gate! Congratulations, again, Class of 2025, and thank you.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text

    MIL OSI USA News –

  • MIL-OSI: NBT Bancorp Inc. Announces Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    NORWICH, N.Y., May 20, 2025 (GLOBE NEWSWIRE) — The Board of Directors of NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) approved a second-quarter cash dividend of $0.34 per share at a meeting held today. The dividend will be paid on June 16, 2025 to shareholders of record as of June 2, 2025.

    Corporate Overview

    NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.86 billion at March 31, 2025. The Company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 175 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and www.nbtbank.com/Insurance.

    Contact: Scott A. Kingsley President and CEO
    Annette L. Burns, Executive Vice President and CFO
    NBT Bancorp Inc.
    52 South Broad Street
    Norwich, NY 13815
    607-337-6589

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

    The MIL Network –

  • MIL-OSI: ESCO Announces Divestiture of VACCO Industries

    Source: GlobeNewswire (MIL-OSI)

    St. Louis, May 20, 2025 (GLOBE NEWSWIRE) — ESCO Technologies Inc. (NYSE: ESE) (ESCO, or the Company) today announced that it has entered into a definitive agreement to sell VACCO Industries (VACCO) to RBC Bearings Incorporated (NYSE: RBC), an international manufacturer and marketer of highly engineered precision bearings and products, headquartered in Oxford, Connecticut.

    The Company expects to finalize the transaction upon receipt of certain customary regulatory approvals with expected gross cash proceeds of $310 million subject to typical post-closing adjustments. A sizable book gain is expected on the transaction, with a plan to use the net proceeds for paying down debt incurred in connection with the Maritime acquisition.

    Last August, the Company announced a strategic review of the VACCO business and the resulting divestiture supports ESCO’s long-term strategy to focus its portfolio on core high-growth end-markets. VACCO has been a part of ESCO since its formation in 1990 and is a key supplier of highly-technical mission-critical solutions. Bryan Sayler, Chief Executive Officer and President, commented, “We view this transaction as a great outcome for all and are confident that VACCO and its dedicated management team and employees are positioned for a positive future with RBC Bearings.”

    ESCO was represented by Philpott, Ball & Werner, LLC as exclusive financial advisor and Bryan Cave Leighton Paisner LLP as legal advisor on this transaction.

    ESCO Technologies is a global provider of highly engineered products and solutions serving diverse end-markets. It manufactures filtration and fluid control products, advanced composites, as well as signature and power management solutions for aviation, Navy, space, and industrial customers. ESCO is an industry leader in designing and manufacturing RF test and measurement products and systems; and provides diagnostic instruments, software and services to industrial power users and the electric utility and renewable energy industries. Headquartered in St. Louis, Missouri, ESCO and its subsidiaries have offices and manufacturing facilities worldwide. For more information on ESCO and its subsidiaries, visit ESCO’s website at www.escotechnologies.com.

    SOURCE ESCO Technologies Inc.
    Kate Lowrey, Vice President of Investor Relations, (314) 213-7277

    The MIL Network –

  • MIL-OSI USA: Ciscomani Questions VA Secretary Doug Collins about the Need to Strengthen Veteran Suicide Prevention Efforts and Prioritize Survivor’s Assistance within the VA

    Source: United States House of Representatives – Congressman Juan Ciscomani (Arizona)

    WASHINGTON, D.C. — U.S. Congressman Juan Ciscomani, who represents nearly 80,000 veterans in Arizona’s 6th Congressional District, questioned Department of Veterans Affairs (VA) Secretary Doug Collins during an oversight hearing about the VA’s preliminary requested budget. 

    During the hearing, Ciscomani urged Secretary Collins to provide greater clarity about the status of Arizona’s Be Connected Program which aims to address suicide rates among Arizona’s veteran population.  

    Created in 2017, the Be Connected program finds ways for the VA to better partner with local stakeholders to prevent veteran suicide by providing resources, care, career navigation advice, connection coaching, financial assistance and more. This public-private partnership has been nationally recognized for its exceptional cross-sector collaboration and partnership to address the complex issue of suicide prevention.  

    The need for Be Connected arose after a troubling spike in veteran suicide rates between 2015-2016 following a scandal at the Phoenix VA, which was 3-4 times higher than the general population and nearly double the national rate for veterans. In his time in Congress, Ciscomani has repeatedly met with local stakeholders, his Veteran Advisory Council, the veteran community at large, and VA Secretaries from both the Biden and Trump administrations to find ways to reduce suicide rates and support our veterans. In January 2025, Ciscomani sent a letter to the VA advocating for the continued support of this critical program. 
    The congressman also praised Secretary Collins for moving the Office of Survivors Assistance (OSA) back within the Office of the VA Secretary, which is exactly what Ciscomani’s legislation, the Prioritizing Veterans’ Survivors Act (H.R. 1228), did. This ensures that surviving families of veterans receive the benefits and support they were promised and provide them a direct line to the Secretary, so their needs and concerns are prioritized program-wide at the very top of the VA. This legislation previously passed the House of Representatives on April 9, 2025 with unanimous support. 
    You can find the congressman’s entire line of questioning here. 

    ###

    MIL OSI USA News –

  • MIL-OSI: Currenc Group Inc. Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 20, 2025 (GLOBE NEWSWIRE) — Currenc Group Inc. (Nasdaq: CURR) (“Currenc” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced its financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Total Processing Value (TPV) through Tranglo was US$1.30 billion for the first quarter of 2025, decreasing by 3.7% year-over-year. Total number of transactions decreased to 2.77 million for the first quarter of 2025 from 2.94 million for the same period of 2024. The decline in TPV was mainly due to the decline in business volume from the Hong Kong market.
    • Total revenues excluding TNG Asia and GEA1 were US$10.0 million for the first quarter of 2025, representing a year-over-year decrease of 11.5%, primarily due to the 23.1% decline in global airtime revenue.
          For the three-month period ended March 31,  
          2025     2024  
          $     $  
          (dollars in thousands)  
      Remittance revenue excluding TNG Asia & GEA     4,583       5,025  
                       
      Global Airtime Revenue     2,022       2,573  
      Indonesian Airtime Revenue     3,437       3,742  
      Total Revenue excluding TNG Asia & GEA     10,042       11,340  
                       
    • Total remittance revenues excluding TNG Asia and GEA, i.e., remittance revenues contributed by Tranglo, were US$4.6 million for the first quarter of 2025, down 8% year-over-year. The decline in remittance revenue was mainly due to a decrease in remittance revenue from the Hong Kong market. Tranglo’s overall take rate declined to 0.35% in the first quarter of 2025 from 0.37% in the same period of 2024.
    • Currenc’s global airtime transfer revenues were US$2.0 million for the first quarter of 2025, representing a year-over-year decrease of 23.1%. The growing availability of free Wi-Fi in Southeast Asian countries, especially Malaysia and Indonesia, has led to declining demand for Malaysia-Indonesia airtime transfers, resulting in a decline in global airtime business in the first quarter of 2025. As Currenc expects this trend to continue in Southeast Asian markets, the Company’s management plans to deemphasize airtime transfer and reallocate its resources and capital to expand its new AI product offerings.
    • Total direct costs of revenue were US$6.9 million for the first quarter of 2025, representing a year-over-year decrease of 20.7%.
    • The direct payout rate for Tranglo’s remittance business was 0.13% for the first quarter of 2025, flat compared to 0.12% for the same period of 2024. Currenc’s overall gross profit margin ratio for the first quarter of 2025 was 31.8%, compared to 33.6% for the same period of 2024.
    • Total operating expenses increased to $7.5 million for the first quarter of 2025 from $5.8 million for the same period of 2024. The increase was mainly due to expenses of $2.2 million in recognition of the incentive shares granted to employees upon the completion of the INFINT SPAC merger.

      As Currenc divested TNG Asia and GEA in August and July 2024, respectively, its operating costs now reflect the operating costs of Tranglo, WalletKu and the Company’s headquarters only. Also, with the rollout of its new AI initiatives, Currenc incurred $0.5 million in operating costs related to these new businesses in the first quarter of 2025. The new AI businesses are expected to contribute incrementally to revenues and positively impact EBITDA in 2025.

      • Tranglo’s operating costs for the first quarter of 2025 were $3.2 million, representing an increase of 14% from $2.8 million in the same period of 2024.
      • WalletKu’s operating costs were $0.2 million for the first quarter of 2025, as compared to $0.4 million for the same period of 2024.
      • Professional fees and director fees were $0.8 million and $0.6 million for the first quarter of 2025, respectively.
    • Other income totaled $1.0 million for the first quarter of 2025, mainly contributed by Tranglo.
    • EBITDA analysis
      For the three-month period ended March 31, 2025   Tranglo     WalletKu     TNG
    Asia 
    and GEA    		     Headquarters
    and
    adjustments    		     Group
         Total    		  
          (dollars in thousands)  
      Net income (loss)     1,160       (136 )     –       (5,511 )     (4,487 )
                                               
      Add:                                        
      Income tax expenses     141       –       –       (93 )     48  
      Interest expense, net     21       –       –       1,066       1,087  
      EBIT     1,322       (136 )     –       (4,538 )     (3,352 )
      Depreciation and amortization     –       –       –       –       554  
      EBITDA     1,322       (136 )     –       (4,538 )     (2,798 )
                                               
    • The Company’s total EBITDA for the first quarter of 2025 was a loss of $2.8 million.
    • Tranglo and WalletKu’s combined EBITDA for the first quarter of 2025 was $1.2 million.
    • TNG Asia and GEA’s combined losses had no impact on the Company’s results from the fourth quarter of 2024 onwards as they were divested before the completion of the de-SPAC merger.
    • Headquarters expenses and adjustments recorded an EBIT loss of $4.5 million, mainly contributed by:
      • $2.2 million in “Operating Expenses” in recognition of the incentive shares granted upon completion of the de-SPAC merger.
      • $0.8 million for professional fees.
      For the three-month period ended March 31, 2024   Tranglo     WalletKu     TNG
    Asia
    and GEA    		     Headquarters
    and
    adjustments    		     Group
    Total    		  
          (dollars in thousands)  
      Net income (loss)     1,070       (123 )     (1,039 )     (2,540 )     (2,632 )
                                               
      Add:                                        
      Income tax expenses     163       –       –       (92 )     71  
      Interest expense, net     –       –       242       1,069       1,311  
      EBIT     1,233       (123 )     (797 )     (1,563 )     (1,250 )
      Depreciation and amortization     –       –       –       –       1,016  
      EBITDA     1,233       (123 )     (797 )     (1,563 )     (234 )
                                               
    • Net loss was US$4.5 million for the first quarter of 2025, primarily driven by the net loss of $5.5 million incurred by headquarters and adjustments.

    Management Comments
    “As demand for digital remittance continues to grow steadily, intensified market competition is compressing pricing,” said Alex Kong, Founder and Executive Chairman of Currenc. “Against this backdrop, we strove to maintain Tranglo’s healthy take rate while delivering TPV of US $1.30 billion in the first quarter of 2025, underscoring the strength of our core remittance platform and our disciplined strategic execution. Looking ahead, we are positioning Currenc for higher‑margin growth through two key initiatives: scaling our AI product offerings and expanding our remittance services into major corridors. We believe this combination of broader reach and AI‑driven innovation will support a more diversified revenue base and a structurally stronger bottom line.”

    Ronnie Hui, Chief Executive Officer of Currenc, commented, “While softer airtime demand weighed on our total revenues, our remittance business remained resilient amid a competitive environment in the first quarter of 2025, supporting a combined EBITDA for Tranglo and WalletKu of US $1.2 million. We are reallocating capital toward accelerating our AI initiatives and building higher‑margin remittance corridors to boost product value and operational scale, priming the Company for quality growth throughout the year. We also enhanced cost management and maintained Tranglo’s payout rate at 0.13%. Operating expenses rose to US $7.5 million, primarily due to a one‑time US $2.2 million share‑based incentive linked to the de‑SPAC merger, as well as costs related to our new AI initiatives. Outside of these expenses, our headquarters’ operating costs remained broadly stable. Going forward, this strengthened bottom line will allow us to invest in AI-driven growth while maintaining financial discipline.”

    Non-GAAP Financial Measures
    To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with GAAP, it uses EBITDA, a non-GAAP financial measure as described below, to understand and evaluate its core operating performance. This non-GAAP financial measure, which may differ from similarly titled measures used by other companies, is presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

    EBITDA is defined as net loss before interest, taxes, depreciation, and amortization. Currenc believes that EBITDA provides useful information to investors and others in understanding and evaluating its operating results. This non-GAAP financial measure eliminates the impact of items that Currenc does not consider indicative of the performance of its business. While Currenc believes that this non-GAAP financial measure is useful in evaluating its business, this information should be considered supplemental in nature and is not meant as a substitute for the related financial information prepared in accordance with GAAP.

    About Currenc Group Inc.
    Currenc Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.

    For additional information, please refer to the Currenc website https://www.currencgroup.com and the annual report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.

    Safe Harbor Statement
    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

    Investor & Media Contact
    Currenc Group Investor Relations
    Email: investors@currencgroup.com

    SOURCE: Currenc Group Inc.

     
    CURRENC GROUP INC. AND SUBSIDIARIES
     
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
     
        Three months ended March 31,  
        2025     2024  
        US$     US$  
    Revenue     10,055,569       13,104,123  
                     
    Cost of revenue     (6,854,172 )     (8,696,562 )
    Gross profit     3,201,397       4,407,561  
    Selling expenses     –       (3,987 )
                     
    General and administrative expenses     (7,522,252 )     (5,824,208 )
                     
    Loss from operations     (4,320,855 )     (1,420,634 )
    Finance costs, net     (1,087,313 )     (1,311,363 )
    Other income     969,691       189,735  
    Other expenses     (402 )     (19,137 )
                     
    Loss before income tax     (4,438,879 )     (2,561,399 )
    Income tax expense     (48,479 )     (70,529 )
                     
    Net loss     (4,487,358 )     (2,631,928 )
    Net income attributable to non-controlling interests     (187,000 )     (403,056 )
                     
    Net loss attributable to Currenc Group Inc.     (4,674,358 )     (3,034,984 )
                     
    Net loss per share, basic and diluted (1)   $ (0.13 )   $ (0.09 )
                     
    Shares used in net loss per share computation, basic and diluted (1)     35,374,891       33,980,753  
                     
    Other comprehensive loss:                
    Foreign currency translation adjustments     171,532       368,135  
                     
    Total comprehensive loss     (4,315,826 )     (2,263,793 )
    Total comprehensive loss (income) attributable to non-controlling interests     (228,069 )     (407,798 )
    Total comprehensive loss attributable to Currenc Group Inc.     (4,543,895 )     (2,671,591 )
     
    (1) Retrospectively restated to reflect Reverse Recapitalization
    CURRENC GROUP INC. AND SUBSIDIARIES
     
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
     
        March 31,
    2025    		     December 31,
    2024    		  
          US$       US$  
    ASSETS                
    Current assets:                
    Cash and cash equivalents     62,300,298       63,821,397  
    Restricted cash     40,978       40,742  
    Accounts receivable, net     2,103,924       2,115,681  
    Other financial assets     3,171,000       –  
    Amounts due from related parties     449,094       560,823  
    Prepayments, receivables and other assets     25,874,112       20,948,216  
    Total current assets     93,939,406       87,486,859  
    Non-current assets:                
    Equipment and software, net     1,118,661       1,055,520  
    Right-of-use asset     294,965       349,240  
    Intangible assets     3,000,978       3,386,117  
    Goodwill     12,059,428       12,059,428  
    Deferred tax assets     344,291       342,822  
    Total non-current assets:     16,818,323       17,193,127  
    Total assets     110,757,729       104,679,986  
    LIABILITIES AND SHAREHOLDERS’ DEFICIT                
    Current liabilities:                
    Borrowings     20,128,362       20,150,058  
    Receivable factoring     480,225       258,415  
    Other financial liabilities     3,329,550       –  
    Accounts payable, accruals and other payables     51,411,453       55,329,740  
    Amounts due to related parties     76,472,666       67,697,074  
    Convertible bonds     1,750,000       1,750,000  
    Lease liabilities     177,505       171,909  
    Total current liabilities:     153,749,761       145,357,196  
    Non-current liabilities:                
    Deferred tax liabilities     784,479       876,912  
    Employee benefit obligation     39,259       45,289  
    Lease liabilities     111,833       156,647  
    Total non-current liabilities:     935,571       1,078,848  
    Total liabilities     154,685,332       146,436,044  
                     
    Commitments and contingencies (Note 10)                
                     
    Shareholders’ deficit:                
    Ordinary shares (US$0.0001 par value; 550,000,000 shares authorized 46,527,999 and 46,527,999 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively) (1)     4,653       4,653  
    Additional paid-in capital (1)     67,797,587       65,638,838  
    Accumulated deficit     (136,197,260 )     (131,522,902 )
    Accumulated other Comprehensive Loss     7,873       (108,122 )
    Total shareholders’ deficit attributable to Currenc Group Inc.     (68,387,147 )     (65,987,533 )
    Non-controlling interests     24,459,544       24,231,475  
    Total deficit     (43,927,603 )     (41,756,058 )
    Total liabilities and shareholders’ deficit     110,757,729       104,679,986  
     
    (1) Retrospectively restated to reflect Reverse Recapitalization
    CURRENC GROUP INC. AND SUBSIDIARIES
     
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
     
        Three months ended March 31,  
        2025     2024  
        US$     US$  
    Cash flows from operating activities:                
    Net loss     (4,487,358 )     (2,631,928 )
    Adjustments to reconcile net loss to net cash provided by operating activities:                
    Non-cash expense for Share-based compensation     2,158,749       –  
    Depreciation of equipment and software     123,799       142,518  
    Depreciation of right-of-use assets     53,712       41,981  
    Amortization of intangible assets     385,139       831,392  
    Deferred income taxes     (92,426 )     54,704  
    Disposal of fixed assets     401       –  
    Unrealized foreign exchange gain     328,269       (124,690 )
    Changes in operating assets and liabilities:                
    Accounts receivable     33,923       (110,270 )
    Prepayments, receivables and other assets     (4,918,772 )     9,477,057  
    Escrow money payable     –       218,542  
    Client money payable     –       146,847  
    Accounts payable, accruals and other payables     (4,068,655 )     (7,014,740 )
    Interest payable on convertible bonds     –       952,736  
    Amount due from a director     729,198       –  
    Amount due to Immediate holding company     23,766       –  
    Amounts due from related parties     (3,652 )     –  
    Amounts due to related parties     8,245,995       (2,205,121 )
    Net cash used in operating activities     (1,487,912 )     (220,972 )
                     
    Cash flows from investing activities:                
    Decrease in short-term investments     –       615  
    Purchases of property, plant and equipment     (175,158 )     (12,058 )
    Proceeds received from disposal of PPE     596       –  
    Net cash used in investing activities     (174,562 )     (11,443 )
                     
    Cash flows from financing activities:                
    Proceeds from borrowings     –       639,210  
    Repayment of borrowings     –       (95,742 )
    Proceeds from receivable factoring     433,287       586,789  
    Repayment of receivable factoring     (218,974 )     (610,559 )
    Payment of principal elements of lease liabilities     (65,286 )     (46,295 )
    Payment of interest elements of lease liabilities     (7,416 )     (2,952 )
    Net cash generated from/(used in) financing activities     141,611       470,451  
                     
    Net decrease in cash and cash equivalents     (1,520,863 )     238,036  
    Cash and cash equivalents, restricted cash and escrow money receivable at beginning of the period     63,862,139       58,960,384  
    Cash and cash equivalents, restricted cash and escrow money receivable at end of the period     62,341,276       59,198,420  
                     
    Supplemental disclosure of cash flow information:                
    Income taxes paid     (140,905 )     (15,825 )
    Interest paid     (48,773 )     (346,270 )
    CURRENC GROUP INC. AND SUBSIDIARIES
     
    EBITDA Analysis for the First Quarter of 2025 and 2024
     
    For the three-month period ended March 31, 2025   Tranglo     WalletKu     TNG Asia and GEA     Headquarters and adjustments     Group Total  
        (dollars in thousands)  
    Net income (loss)     1,160       (136 )     –       (5,511 )     (4,487 )
                                             
    Add:                                        
    Income tax expenses     141       –       –       (93 )     48  
    Interest expense, net     21       –       –       1,066       1,087  
    EBIT     1,322       (136 )     –       (4,538 )     (3,352 )
    Depreciation and amortization     –       –       –       –       554  
    EBITDA     1,322       (136 )     –       (4,538 )     (2,798 )
    For the three-month period ended March 31, 2024   Tranglo     WalletKu     TNG Asia and GEA     Headquarters and adjustments     Group Total  
        (dollars in thousands)  
    Net income (loss)     1,070       (123 )     (1,039 )     (2,540 )     (2,632 )
                                             
    Add:                                        
    Income tax expenses     163       –       –       (92 )     71  
    Interest expense, net     –       –       242       1,069       1,311  
    EBIT     1,233       (123 )     (797 )     (1,563 )     (1,250 )
    Depreciation and amortization     –       –       –       –       1,016  
    EBITDA     1,233       (123 )     (797 )     (1,563 )     (234 )
                                             

    1 TNG Asia and GEA were divested in August 2024 and July 2024, respectively.
    2 Tranglo maintained a positive EBITDA for the first quarter of 2025 and 2024.
    3 Tranglo and WalletKu maintained a combined positive EBITDA for the first quarter of 2025 and 2024.

    ____________________________________
    1 Currenc divested TNG Asia and GEA in August 2024 and July 2024, respectively. As such, from the fourth quarter of 2024 onward, only Tranglo’s (digital remittance and global airtime transfer businesses) and WalletKu’s (Indonesian airtime business) results will be consolidated and reported in the Company’s financial statements.

    The MIL Network –

  • MIL-OSI: Top KingWin Ltd Regains Compliance with Nasdaq Minimum Closing Bid Price Rule

    Source: GlobeNewswire (MIL-OSI)

    Guangzhou, China, May 20, 2025 (GLOBE NEWSWIRE) — Top KingWin Ltd (“Top KingWin” or the “Company”) (Nasdaq: WAI) announced today that it received a formal notification from the Nasdaq Stock Market LLC (“Nasdaq”) on May 19, 2025, that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires the Company’s class A ordinary shares, par value of US$0.0025 each (the “Ordinary Shares”) to maintain a minimum bid price of $1.00 per share.

    The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s Ordinary Shares has been at $1.00 per share or greater for the last 10 consecutive business days from May 5 to May 16, 2025. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and this bid price deficiency matter is now closed.

    About Top KingWin Ltd

    Top KingWin’s main clients are entrepreneurs and executives in small and medium-sized enterprises in China. Services provided by Top KingWin to its clients including (i) corporate business training services, which mainly focus on providing training services of advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on providing a combination of customized corporate consulting services to fulfill client’s unique financial needs, (iii) advisory and transaction services, which mainly focus on connecting entrepreneurs and businesses with diversified sources of capital, and (iv) sales of devices to support artificial intelligence data collection and analysis. Its mission is to provide comprehensive services to address clients’ needs throughout all phases of their development and growth.

    Forward-Looking Statements

    This press release contains forward-looking statements. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, the use of proceeds from the Company’s offering, the intent, belief or current expectations of Top KingWin and members of its management, as well as the assumptions on which such statements are based. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

    For more information, please contact:

    Bonnie

    Email: IR@tcjhgw.cn

    The MIL Network –

  • MIL-OSI: Cipher Mining Announces Proposed Convertible Senior Notes Offering and Proposed Hedging Transaction to Place Borrowed Common Stock

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 20, 2025 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced its intention to offer, subject to market and other conditions, $150,000,000 aggregate principal amount of convertible senior notes due 2030 (the “notes”) in a public offering registered under the Securities Act of 1933, as amended. Cipher also expects to grant the underwriters of the notes offering an option to purchase up to an additional $22,500,000 aggregate principal amount of notes solely to cover over-allotments. Morgan Stanley is acting as the sole bookrunning manager for the offering.

    The notes will be senior, unsecured obligations of Cipher, will accrue interest payable semiannually in arrears and will mature on May 15, 2030, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Cipher will settle conversions by paying or delivering, as applicable, cash, shares of its common stock, par value $0.001 per share (“common stock”), or a combination of cash and shares of its common stock, at Cipher’s election.

    The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Cipher’s option at any time, and from time to time, on or after May 22, 2028 and on or before the 30th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Cipher’s common stock exceeds 130% of the conversion price for a specified period of time. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

    If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, noteholders may require Cipher to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. In addition, unless Cipher has previously called all outstanding notes for redemption, noteholders may at their option require Cipher to repurchase their notes for cash on May 15, 2028 at a repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

    The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering.

    Cipher intends to use the net proceeds from the offering to complete Phase 1 of the Black Pearl data center project (“Phase 1”), including: (i) purchasing at a discount the remaining balance of mining rigs required for Phase 1; (ii) paying expected tariffs and shipping costs for the mining rigs to be used for Phase 1; and (iii) paying other infrastructure-related capital expenditures in connection with Phase 1, and for general corporate purposes. On May 16, 2025, the Company, through its wholly-owned subsidiaries Cipher Mining Infrastructure LLC, a Delaware limited liability company, and Cipher Black Pearl LLC, a Delaware limited liability company, entered into an Amendment Agreement and Deed of Novation to the Future Sales and Purchase Agreement (the “2025 Amendment”) with Bitmain Technologies Delaware Limited, which amends the Company’s existing Future Sales and Purchase Agreement, dated December 16, 2023, as amended by the Supplemental Agreement, dated June 5, 2024, the Amendment Agreement, dated July 10, 2024 and the Notice of Exercise dated February 5, 2025 (together, the “Original Agreement”). The Original Agreement has been amended to include an updated delivery schedule that allows for rig delivery by June 23, 2025. Through such amendment, the Company aims to accelerate its rig deployment timeline and offset a portion of the expected tariffs. The Company also received a 10% reduction in cost in exchange for the Company’s early payment of the remaining balance outstanding under the Original Agreement. The amendment also provides the Company with additional incremental value from BTC-linked call options.

    Concurrently with the offering of the notes, Cipher also announced that Morgan Stanley, acting on behalf of itself and/or its affiliates, intends to offer, in a separate, underwritten offering, a number of shares of Cipher’s common stock borrowed from third parties (the “concurrent delta offering”), to facilitate hedging transactions (whether physical and/or through derivatives) by some of the purchasers of the notes. The number of shares of Cipher’s common stock subject to the concurrent delta offering will be determined at the time of pricing of the concurrent delta offering, and is expected to be no greater than commercially reasonable initial short positions of such hedging investors in the notes. The completion of the offering of the notes is contingent on the completion of the concurrent delta offering, and the completion of the concurrent delta offering is contingent on the completion of the offering of the notes.

    The offering of the notes and the concurrent delta offering are being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the “SEC”). Each of the offering of the notes and the concurrent delta offering will be made only by means of a prospectus supplement and an accompanying prospectus. Before you invest, you should read the respective prospectus supplements and the accompanying prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. Electronic copies of the respective preliminary prospectus supplements, together with the accompanying prospectus, will be available on the SEC’s website at www.sec.gov. Alternatively, copies of the respective preliminary prospectus supplements, together with the accompanying prospectus, can be obtained, when available, by contacting: Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.

    This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

    J. Wood Capital Advisors LLC acted as financial advisor to the Company.

    About Cipher

    Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world’s largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.

    Forward Looking Statements

    This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about the terms and completion of the notes offering and the concurrent delta offering, the use of proceeds from the notes offering, the effect of the hedging activities related to the notes offering on the market price of our shares of common stock, our beliefs and expectations regarding our future results of operations and financial position, planned business model and strategy, our bitcoin mining and HPC data center development, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, potential strategic initiatives, such as joint ventures and partnerships, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts we may make to modify aspects of our business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 25, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contacts:
    Investor Contact:
    Courtney Knight
    Head of Investor Relations at Cipher Mining
    courtney.knight@ciphermining.com

    Media Contact:
    Ryan Dicovitsky / Kendal Till
    Dukas Linden Public Relations
    CipherMining@DLPR.com

    The MIL Network –

  • MIL-OSI USA: Congressman Bean Encourages Otto Aviation to Bring Innovation to Northeast Florida

    Source: United States House of Representatives – Representative Aaron Bean Florida (4th District)

    WASHINGTON—Today, U.S. Congressman Aaron Bean (FL-04) is calling on Otto Aviation, a pioneer in revolutionary aircraft design, to consider Cecil Airport in Jacksonville, Florida, as its next home for expansion and development. 

    Congressman Bean said, “There’s no better place for Otto Aviation’s headquarters and manufacturing facility than Jacksonville, Florida, where our nation’s brightest engineering minds are pushing the boundaries of aerospace innovation. From Cecil Airport and world-class infrastructure to a top-tier workforce and thriving business-friendly climate, our city is perfectly positioned to help Otto Aviation reach its goals and drive economic growth. The First Coast isn’t just a location—it’s an aviation powerhouse waiting for takeoff.” 

    ADDITIONAL INFORMATION 

    According to the Jacksonville Daily Record, Otto Aviation is a Texas-based aviation startup that is considering building a passenger plane manufacturing and production facility at Cecil Airport. 

    Otto Aviation’s expansion into Jacksonville represents a major investment in our economy, with plans to inject $430 million into the region while creating 400 high-paying jobs with an average salary of $90,000 by 2031. This groundbreaking project would not only strengthen Jacksonville’s position as a hub for aerospace innovation but also set the stage for long-term economic growth, as Otto Aviation projects expanding its workforce to 1,200 jobs by 2040.

    ###

    MIL OSI USA News –

  • MIL-OSI Economics: Plastics Dialogue sharpens focus on transparency and standards

    Source: WTO

    Headline: Plastics Dialogue sharpens focus on transparency and standards

    Barbados and Morocco delivered opening remarks on behalf of the co-coordinators. They highlighted the successful midterm review in April of the DPP’s work in 2025 and underscored the importance of delving deeper into each focus area to advance potential outcomes. They noted co-sponsors’ interest in the ongoing global efforts to reduce plastics pollution, particularly the negotiations led by the Intergovernmental Negotiating Committee under the United Nations, which is scheduled to hold its next round of talks in August 2025 in Geneva.
    The co-coordinators reported on the productive discussions held during a workshop for Latin America and the Caribbean on 16 May, highlighting the DPP initiative’s continued efforts to incorporate regional perspectives and to hear from smaller delegations. The first region-focused workshop, held alongside the April DPP meeting, had centred on Africa.
    They noted that regional experts underscored the importance of boosting trade and strengthening institutional regulatory capacities to address plastics pollution. The workshop emphasized strong support for small businesses, calling for technical assistance and financial incentives to help them participate in a more sustainable economy.
    Participants also highlighted the need to promote locally sourced, sustainable substitutes — such as banana peel, bamboo and sugarcane byproducts — alongside green finance mechanisms, while considering consumer awareness of non-plastic substitutes and cultural preferences for certain alternative materials. The discussion further stressed the value of enhanced regional cooperation and a unified regulatory approach to single-use plastics, with platforms such as Mercosur (Southern Common Market) and ALADI (Latin American Integration Association) identified as key avenues for regulatory cooperation and aligning standards. 
    Switzerland and China facilitated thematic discussions on the two focus areas. On the first topic — enhancing cooperation on applicable standards for non-plastic substitutes and alternatives — members heard from a diverse range of institutions and companies. The Codex Alimentarius Committee under the UN Food and Agriculture Organization presented its work on food packaging standards for traded goods, with a focus on food safety.
    Representatives from companies and associations in Peru, the Philippines and the Netherlands shared their experiences and challenges in navigating domestic and international regulations while using nature-compatible and biodegradable materials to replace single-use plastics. The United States also provided a debrief on recent discussions in the WTO Committee on Technical Barriers to Trade, which explored domestic practices and the potential negative impacts of changes to food packaging regulations. The importance of cross-committee collaboration between the DPP and other WTO bodies was underscored.
    Participants expressed a shared commitment to addressing plastics pollution through the DPP, while cautioning against duplicating the work of existing WTO committees and international standard-setting organizations. Several emphasized the importance of the DPP focusing on its unique contributions — such as facilitating information exchange, sharing domestic experiences, and examining the commercial, environmental and safety dimensions of non-plastic alternatives. Many also underscored the need for international cooperation, the harmonization of standards and certification schemes, and equitable access to sustainable solutions, particularly for developing economies.
    On the second topic — enhancing transparency of trade flows of plastics — members received an update from the United Nations Institute for Training and Research (UNITAR), which presented its work on developing statistical guidelines for measuring plastic flows throughout the life cycle. The European Union’s Joint Research Centre also gave a presentation on the bloc’s evolving policy landscape and its strengthened measures to track material flows of plastics across its value chain.
    Participants welcomed the guidelines as useful tools for monitoring the trade flow of goods with embedded plastics, as well as single-use plastic items. They encouraged broader knowledge sharing to include guidelines developed by other organizations and called for greater support to developing and least-developed members in building capacity for data collection.
    In conclusion, Australia thanked members and stakeholders for their inputs, emphasizing that transparency is a critical step toward effective policy design. It noted that the discussions underscored the potential of non-plastic substitutes and alternative materials, while also acknowledging the remaining challenges.
    Co-coordinators will provide updates on the next steps following further consultations.
    More
    DPP co-sponsors have identified eight areas for achieving possible outcomes at MC14. The remaining six areas include: supporting ongoing multilateral negotiations under the United Nations to reduce plastics pollution; exploring strategies to harmonize trade-related measures for single-use plastics; identifying best practices; improving access to relevant technologies and services; building capacity for developing members; and considering the potential development of domestic inventories of trade-related plastic measures.
    Launched in November 2020 by a group of WTO members, the Dialogue on Plastics Pollution currently consists of 83 co-sponsors, representing almost 90 per cent of global trade in plastics.

    Share

    MIL OSI Economics –

  • MIL-OSI Economics: 2025 State of Small Business Survey: Surge in AI, cybersecurity and social media demand

    Source: Verizon

    Headline: 2025 State of Small Business Survey: Surge in AI, cybersecurity and social media demand

    What you need to know:

    • Nearly half (47%) of SMBs updated their cybersecurity solutions to further protect their business. More than a third (38%) are actively using AI across multiple business functions, such as data analysis, marketing and customer service.
    • Over 56% of SMBs believe AI can help address issues with employee management and overall employee headcount.
    • 3 in 4 (76%) of SMBs agree that social media positively impacts their business performance.
    • But more than half (54%) of SMBs struggle to keep online content fresh and stay up to date with social media trends.

    NEW YORK, NY – Verizon Business today announced the findings of its sixth annual State of Small Business Survey, conducted by Morning Consult. The report shows small and medium-sized businesses (SMBs) are aggressively adopting technology to drive market growth and operational efficiency. The surge is fueled by increasingly accessible artificial intelligence (AI) and content creation tools, empowering SMBs to expand their marketing and sales capabilities and reach new markets.

    Social media is a critical driver, with 58% of SMBs now on TikTok, while 38% are actively integrating AI into their operations. This isn’t just a trend; it’s a fundamental transformation of how SMBs compete and thrive in the modern digital economy.

    “Small business owners are entering a new chapter of digital business with the rise of AI,” said Aparna Khurjekar, Chief Revenue Officer, Business Markets and SaaS, Verizon Business. “At Verizon, we are committed to supporting our SMB community in navigating their business through the latest technology to help deliver growth and protect their assets from emerging cyber threats.”

    Based on responses from 600 SMBs in the United States, the State of Small Business Survey identified the following key findings and insights:

    • Upgrading technology solutions for new ways of doing business. In the last year, almost half of small businesses (47%) implemented new technology platforms to bolster security for their increasingly digital operations. Social media continues to be a leading customer engagement tool among SMBs, with more than three in five decision-makers either launching content creation initiatives or increasing their investment in content creation during the past year.
    • AI adoption spreads in new ways. Today, 38% of SMBs are leveraging AI in one capacity or another. More than a quarter (28%) are using AI for marketing and social media, while 24% are using the technology for written communications. Nearly a quarter use AI to power digital personal assistants that can help them with customer service. Another 25% are using AI to boost their cybersecurity efforts. Meanwhile, SMBs are exploring AI for employee recruitment and retention, with 56% believing AI can help their business offset any pain points caused by reduced or frozen headcount and another 53% believing AI can help the business retain current staff.
    • SMBs turn to AI to help with employee management strategies. While more than two-thirds of decision makers surveyed believe employees need to be in-person for the business to function, they are turning to AI for support in navigating this new workforce. Nineteen percent (19%) of SMBs are using AI for recruitment and talent sourcing, and 56% believe AI can help their business offset any pain points caused by reduced or frozen headcount. More than half (53%) believe AI can help the business retain current staff.
    • Growing importance of cybersecurity. More than half of SMBs (52%) acknowledge that business growth likely increases the threat of cyberattacks on their business. Nearly half of the respondents (47%) invested in technologies to improve cybersecurity in the last year. A quarter of SMBs don’t believe their business is investing enough.
    • Content for social media continues to be king. Over the past year, SMBs have leaned heavily on social media as one of their leading customer outreach tactics. Facebook remains the number one most popular platform for these businesses, and 76% agree that social media positively impacts their business. A whopping 58% of them are on TikTok.

    As technology continues to evolve and become increasingly more accessible, many SMBs understand the vital importance of embracing the role of technology to grow and protect their business in this new era of digital transformation through AI.

    Visit our website to view the complete survey findings.

    For more information on Verizon’s Small Business Solutions, visit https://www.verizon.com/business/solutions/small-business/.

    MIL OSI Economics –

  • MIL-OSI Economics: Graduates and movers rejoice: Total Wireless introduces $35 home internet with special offer on router

    Source: Verizon

    Headline: Graduates and movers rejoice: Total Wireless introduces $35 home internet with special offer on router

    NEW YORK – As graduates embark on the exciting journey of moving to a new apartment or even a new city, Total Wireless, a leading prepaid brand powered by Verizon’s 5G network, ensures they can stay connected without breaking the bank. Total Wireless is in your corner, offering unbeatable home internet deals that combine affordability with top-notch quality.

    Unlimited Total Wireless Home Internet for Just $35 Per Month

    Customers can now enjoy unlimited home internet for just $35 per month with Auto Pay, when bundled with the Total Wireless 5G Unlimited Plan or higher*. Total Wireless is committed to providing a stress-free internet experience, featuring no long-term contracts, a 5-year price guarantee, and easy setup.

    Exclusive Discounts on Total Wireless Home Internet Routers

    To make the transition even smoother, for a limited time, customers can get a new Home Internet Router for just $24.99 when activating new services on the Total Wireless Home Internet plan. This offer provides exceptional, unrivaled prices and value, giving customers significant savings during moments that matter. Limit one device per account. For more details, visit TotalWireless.com

    Save More with Bundled Plans with Fios Service

    In addition to these fantastic deals, customers can access exclusive savings when combining eligible mobile and internet services. Beginning May 28, customers who have both an eligible Verizon Fios Home Internet plan and mobile phone plan – including from Total Wireless, Straight Talk Wireless, Tracfone, Simple Mobile, Walmart Family Mobile, Visible, or Verizon Prepaid — can enjoy a $15 per month discount on their Verizon Fios home internet bill, saving up to $180 per year. This discount can be combined with the $10 Auto-Pay discount for even greater savings, up to $300 per year. For more details, please visit https://www.verizon.com/discounts/phone-home-internet-bundle/?type=valueoffer.

    Fios Home Internet Available in Select Total Wireless Stores

    Starting June 5, qualified Total Wireless stores in the Fios footprint across New England and the Mid-Atlantic will begin offering Fios Home Internet plans for in-store purchase. This marks the first time Fios is available in select Total Wireless retail store locations, giving Total Wireless customers access to the fast and reliable speeds of fiber optic internet. Check www.totalwireless.com/stores/ to see if your local Total Wireless store offers Fios Home Internet, starting on 6/5.

    “We understand how stressful and financially straining it can be for anyone who’s moving, graduating, or starting a new chapter in their lives,” said David Kim, Chief Revenue Officer at Verizon Value. “Total Wireless is always in your corner, offering affordable home internet that fits your life. Whether it’s our $35 Total Wireless Home Internet plan or access to the fast, 100% fiber network of Fios, now also available in select Total Wireless stores, customers can enjoy even greater value during life’s big transitions.” 

    Total Wireless Home Internet empowers customers to stay connected with loved ones, stream their favorite shows and movies, and work or study from home effortlessly. Experience fast, reliable internet with Total Wireless, with connectivity for all your needs.

    For more information, visit totalwireless.com or your nearest Total Wireless store.

    About Total Wireless

    Total Wireless is a fast-growing, no-contract wireless provider covered by the Verizon 5G network, with over 1,000 exclusive stores across the country, and counting. On a mission to raise the bar in prepaid wireless, Total Wireless disrupts the status quo by offering more value than any other no-contract provider. Total Wireless offers plans with unlimited data and access to Verizon’s 5G Ultra-Wideband network, prices guaranteed for five years (taxes and fees included), select free 5G phones with qualifying purchase plans, and more.

    Total Wireless is part of the Verizon Value portfolio of prepaid brands, which includes Straight Talk, Visible, Tracfone, Simple Mobile, SafeLink, Walmart Family Mobile, and Verizon Prepaid. Verizon Communications Inc. (NYSE, Nasdaq: VZ) is one of the world’s leading providers of technology, communications, information and entertainment products and services.

    For more information on Total Wireless, visit one of its exclusive storefronts across the country, or check out TotalWireless.com.

    *$15/mo discount when bundled with Total 5G Unlimited or Total 5G+ Unlimited plans; additional $10/mo Auto Pay discount upon enrollment. Auto Pay discount applies the month after you enroll.

    **$15/mo savings on Verizon Fios Home Internet plans when combined with any eligible Total Wireless mobile phone plan and $10/mo Auto Pay on Fios Home Internet plan. Separate enrollment required for Fios Home Internet plans and Auto Pay on Fios Home Internet plans required. Discount will be removed if you do not maintain service on an eligible phone plan or Fios Home Internet plan, or if you do not maintain Auto Pay on Fios Home Internet plan. Fios availability, coverage, and speeds may vary based on your address.

    MIL OSI Economics –

  • MIL-OSI Economics: DG Okonjo-Iweala welcomes Prime Minister Plenkovic of Croatia to the WTO

    Source: World Trade Organization

    DG Okonjo-Iweala complimented Croatia on its resilient and forward-looking economy, which is driven by services trade and digital transformation. Both leaders agreed that the WTO’s next Ministerial Conference in Cameroon in March 2026 is an important opportunity for reform of the WTO and for strengthening its role in governing global trade.

    Share

    MIL OSI Economics –

  • MIL-OSI USA: Grassley, Baldwin Introduce Bill Protecting Older Workers from Workplace Discrimination

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sens. Chuck Grassley (R-Iowa) and Tammy Baldwin (D-Wis.) introduced the Protecting Older Workers from Age Discrimination (POWADA) Act to level the playing field for older workers and protect Americans from age discrimination in the workplace.  
    “Americans of all ages can offer valuable contributions to our society and economy, including older Americans. They deserve to be protected from workplace discrimination like other Americans. The Supreme Court’s decision involving Iowan Jack Gross impacted employment discrimination litigation across the nation, sending a wrong message to employers that age discrimination is okay. It’s long past time for us to clarify the intent of Congress so Americans don’t face job discrimination due to age,” Grassley said. 
    “Every Wisconsin worker deserves to feel respected and protected in the workplace. We need to ensure this is true for older workers, so they have equal footing and are treated with the dignity they deserve,” Baldwin said.  
    Background:
    In 2004, Jack Gross of Des Moines sued FBL Financial Group, where he had been working as a vice president, citing age discrimination. Despite superior annual reviews for 13 consecutive years, Gross was demoted when the company announced staffing changes. According to Gross, his replacement lacked breadth of experience and skills for the job. While Gross found success in lower courts, the Supreme Court in 2009 ruled in Gross v. FBL Financial Services that workers who face age discrimination must meet a higher burden of proof than workers who face discrimination based on other characteristics like race, sex, national origin or religion. 
    For decades, a worker only needed to prove discrimination was a factor in an adverse employment decision to make an age discrimination claim. In this case, the court decided a worker needs to prove age was the deciding factor in that decision. This significantly weakened the protections of the Age Discrimination in Employment Act (ADEA) and telegraphed to employers: some age discrimination is perfectly fine. 
    A survey conducted by AARP in 2018 found more than three in five workers ages 45 and above reported seeing or experiencing age discrimination in the workplace. The survey also found three quarters of these workers cited age discrimination as a reason for their lack of confidence in being able to find a new job.  
    POWADA would amend the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Rehabilitation Act of 1973 and the retaliation provision in Title VII of the Civil Rights Act of 1964 to level the playing field for older workers. The bill would restore the pre-Gross standard, once again recognizing the legitimacy of so-called “mixed-motive” claims in which discrimination is a — if not the — deciding factor. It would also reaffirm workers may use any type of admissible evidence to prove their claims. 
    A summary of the bill can be found HERE. 
    Full text of this legislation can be found HERE.
    -30-

    MIL OSI USA News –

  • MIL-OSI United Nations: One Ecosystem

    Source: UNISDR Disaster Risk Reduction

    Mission

    One Ecosystem is an innovative Open Access scholarly journal which provides a forum for studies in the field of ecology and sustainability. In addition to conventional research papers, the journal welcomes contributions documenting the entire research cycle, including data, models, methods, workflows, results, software, perspectives, and policy recommendations.

    The journal will specifically address the following topics: Ecosystem services, Climate change, Landscape ecology, Land use change, Marine and freshwater ecology, Forest ecology and forestry, Agriculture, Tourism, Urban ecology, Restoration ecology, Environmental impact assessment, Health, Waste and water management, Sustainable land development, Environmental economics and policy, and Urban development.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Secretary-General’s remarks to the 2025 ECOSOC Operational Activities for Development Segment [bilingual as delivered, scroll down for all-English and all-French]

    Source: United Nations secretary general

    Excellencies, ladies and gentlemen,

    Thank you for taking part in this important forum in an important year.

    We’re celebrating the 80th anniversary of the United Nations.   

    But this milestone is tempered by a stark, undeniable reality that resonates on every page of the report I am presenting today.

    With less than five years to go to the 2030 deadline, we are facing nothing short of a development emergency.

    The Sustainable Development Goals are alarmingly off-track.

    And some of the hard-won gains made in recent years are getting derailed.

    Progress is too slow in the fight against poverty, hunger, inequality, the climate crisis, decaying infrastructure, and under-resourced education, health and social protection systems.

    We must never forget that a development emergency is, at its root, a human emergency.

    The lives and futures of millions of people hang in the balance.

    This development emergency is also a funding emergency.

    Resources are shrinking across the board — and have been for some time.

    For example, as detailed in my report, total financial contributions to the UN development system dropped by $9 billion — or 16 per cent — in 2023 from the year before.

    We can imagine the number of 2024 taking into account what we have witnessed in the recent decisions.   

    Our organization is increasingly asked to do more with less — a trend that will continue for the foreseeable future.

    This year, donors are pulling the plug on aid commitments and delivery at historic speed and scale.

    But the report we’re discussing today also carries an important message of hope.

    Hope found in the progress we’ve achieved together to reform and reposition the UN development system, making it more efficient and cost-effective.

    Hope in the UN80 initiative to build on these reforms, and drive more of the change we need across the system for a more impactful, cohesive and efficient organization.

    Hope in your continued strong support of, and engagement with, our Resident Coordinators and Country Teams.

    And hope that lies in the potential of the Pact for the Future to accelerate progress towards the Sustainable Development Goals — a Pact that secured consensus at the Summit of the Future.  

    Let me be clear.

    While the context has shifted since the Pact’s adoption, its commitments are more important than ever.

    This includes its bold calls for action on all the elements required to boost progress on sustainable development — including financing for development, the provision of debt relief, and strengthening the international financial architecture.

    We cannot allow headwinds to blow these commitments off course.

    We will continue working closely with all Member States and partners to keep our agenda on track, deepen our ongoing transformation, and to do so in the context of the UN80 initiative to drive progress across the system.

    And we will ensure we can fully deliver and maximize the benefits of every single mandate of the landmark General Assembly resolution 72/279 that ushered in the reforms of the UN development system.

    Excellencies,

    In this spirit, and guided by the report under discussion today, I’d like to highlight four areas where we are making progress, where more is needed, and how Member States can support this work.  

    First — we must hold fast to our commitment to the Sustainable Development Goals.

    This is a critical year for development.

    But across the board, we face a crisis in the means of implementation — from financing to trade, governance and institutional capacity to accelerate progress. 

    Acceleration means Member States keeping alive the bold commitments they made in adopting the Goals in 2015, as well as through the Pact for the Future.

    These include easing the debt burden on developing countries, scaling innovative sources of finance, and pushing forward on reforms to the international financial architecture.

    The upcoming Fourth International Conference on Financing for Development in Sevilla will be a key moment in driving the change we need.

    Acceleration requires bold transformations.

    We must continue traveling the clear pathways to progress outlined in the report — key areas where we can spur progress across all the Goals, such as food systems, energy access, digital connectivity, and supporting economic growth through trade. 

    Now is the time to build more political will and institutional capacity to support these essential shifts and drive progress.

    Second — we will continue tailoring our operations to the needs and priorities of host countries.

    We know we’re on the right track.

    In the last year alone, Resident Coordinators supported over 160 countries.

    Our work across the system and with governments is becoming more integrated and coordinated every year.

    87 per cent of host governments — and 83 per cent of donor country governments — agreed that UN entities are working more collaboratively than before the reform.

    And 98 per cent of host governments agreed that the UN activities, as articulated in our Cooperation Frameworks, are closely or very closely aligned to national priorities.

    The evidence is clear.

    The reinvigorated Resident Coordinator system we have built together is fast-becoming a launchpad for providing deeper development impact for people and planet alike:

    By gathering partners together to shape policy and financing solutions to accelerate development…

    By supporting countries’ efforts on financing, data-collection, trade and sustainable economic growth…

    And by constantly striving to find efficiencies and innovations, and drive accountability and results across our work together.

    We are rightly proud of our work, and we will protect and build on this as we move forward.

    We know we can do better. And we will.

    Despite high levels of support, the report shows worrying gaps between the priorities of our Cooperation Frameworks and the operational, governance and financial tools to bring them to life.

    Moreover, the Management Accountability Framework established to ensure greater accountability in collective UN efforts is not being applied evenly across the system.

    Our newly established evaluation office for the development system is now preparing its first independent report to this body this year to continue driving accountability and results, and ensure greater alignment of UN configuration and programming with country needs.

    I ask all Member States to support this important work.

    Third — funding.

    I am deeply concerned about the system’s funding situation.  

    Core contributions to development agencies are insufficient, plunging to 16.5 per cent of total funding, with these contributions declining to 12 per cent for some agencies. 

    This is a far cry from the 30 per cent target countries committed to in the Funding Compact.

    In December, the General Assembly agreed to my proposal to secure $53 million from the regular budget for the Resident Coordinator system — a much-needed boost at a critical time.

    To be entirely frank, I have to say that the proposal was much higher but at least this compromise was found. 

    But this minimum level of support is insufficient to reach the maximum ambition we need.

    Our ability to drive development and deliver support in a sustained way is at risk — at a moment when countries need us most.

    For our part, we will continue working closely with you to close funding gaps, and ensure joint programming is well-funded and directed to the most vulnerable people and communities.

    But more than ever, we need flexible, sustainable, predictable and innovative sources of funding. 

    I urge Member States to implement the new Funding Compact, without delay.

    In the current context of shrinking resources, the Funding Compact becomes even more fundamental — in particular, its emphasis on pooled funds that allow for more strategic resource allocation depending on actual needs and priorities on the ground.  

    Enfin quatrièmement, nous continuerons de chercher à optimiser l’utilisation des ressources consacrées au développement.

    Le rapport démontre que nos réformes portent leurs fruits : nous avons réalisé plus de 592 millions de dollars d’économies en 2024, soit bien plus que notre objectif initial de 310 millions de dollars.

    Ces économies ont été rendues possibles grâce aux efforts déployés par chaque entité pour rationaliser les services et les chaînes d’approvisionnement, ainsi qu’à un recours accru aux services partagés, notamment s’agissant des voyages, des services de conférence et des fonctions administratives, et à d’autres gains d’efficacité importants.

    Mais nous pouvons et devons en faire plus.

    Dès le début de mon mandat, nous avons lancé un programme de réforme ambitieux destiné non seulement à améliorer nos méthodes de travail et nos résultats, mais aussi à explorer toutes les pistes possibles pour réaliser des économies et des gains d’efficacité.

    L’Initiative ONU80 offre une excellente occasion de poursuivre sur cette lancée.

    En dégageant rapidement des moyens de gagner en efficacité et d’améliorer nos méthodes de travail.

    En consacrant une plus grande partie de nos ressources aux programmes de développement plutôt qu’aux coûts administratifs.

    En procédant à un examen rigoureux de l’exécution des mandats qui nous sont confiés par les États Membres – et dont le nombre a considérablement augmenté ces dernières années.

    Et en menant un examen stratégique des changements plus profonds et plus structurels ainsi qu’un réalignement des programmes au sein du système des Nations Unies.

    L’Initiative ONU80 n’est pas une réponse aux coupes budgétaires mondiales…

    Mais une réponse aux besoins mondiaux.

    Aux besoins des populations du monde entier.

    À la nécessité de faire en sorte que ces personnes soient soutenues comme il se doit, à travers des programmes adaptés au contexte national.

    Et à l’impératif de travailler de façon aussi efficace, rationnelle et utile que possible.

    Là encore, nous aurons besoin de l’appui de tous les États Membres pour rendre nos activités plus efficientes.

    Excellences, Mesdames et Messieurs,

    Alors que nous poursuivons ce chemin de réforme et de renouveau, nous devons garder à l’esprit le plus important : 

    Celles et ceux qui, dans le monde entier, comptent sur nous.

    Le rapport que nous examinons aujourd’hui ne se limite pas aux chiffres.

    Le rapport concerne les services et l’aide que nous apportons à certaines des personnes et des communautés les plus vulnérables et défavorisées de la planète.

    Il concerne les contribuables du monde entier, dont le dur labeur finance notre important travail.

    Il concerne notre capacité à mieux répondre aux attentes des États Membres et agir conformément aux priorités de chaque pays.

    Et il concerne notre quête constante d’efficacité, d’efficience et de responsabilité – tout en restant fidèles aux valeurs fondamentales qui nous animent depuis le tout début.

    Continuons d’œuvrer dans l’unité et la solidarité pour construire une ONU encore plus forte et encore plus efficace – prête à relever les défis d’aujourd’hui et de demain.

    Une ONU adaptée à sa mission et prête à agir.

    Nous comptons sur le plein soutien des États Membres pour continuer à aller de l’avant.

    Je vous remercie.

    *****
    [all-English]

    Excellencies, ladies and gentlemen,

    Thank you for taking part in this important forum in an important year.

    We’re celebrating the 80th anniversary of the United Nations.   

    But this milestone is tempered by a stark, undeniable reality that resonates on every page of the report I am presenting today.

    With less than five years to go to the 2030 deadline, we are facing nothing short of a development emergency.

    The Sustainable Development Goals are alarmingly off-track.

    And some of the hard-won gains made in recent years are getting derailed.

    Progress is too slow in the fight against poverty, hunger, inequality, the climate crisis, decaying infrastructure, and under-resourced education, health and social protection systems.

    We must never forget that a development emergency is, at its root, a human emergency.

    The lives and futures of millions of people hang in the balance.

    This development emergency is also a funding emergency.

    Resources are shrinking across the board — and have been for some time.

    For example, as detailed in my report, total financial contributions to the UN development system dropped by $9 billion — or 16 per cent — in 2023 from the year before.

    We can imagine the number of 2024 taking into account what we have witnessed in the recent decisions. 

    Our organization is increasingly asked to do more with less — a trend that will continue for the foreseeable future.

    This year, donors are pulling the plug on aid commitments and delivery at historic speed and scale.

    But the report we’re discussing today also carries an important message of hope.
    Hope found in the progress we’ve achieved together to reform and reposition the UN development system, making it more efficient and cost-effective.

    Hope in the UN80 initiative to build on these reforms, and drive more of the change we need across the system for a more impactful, cohesive and efficient organization.

    Hope in your continued strong support of, and engagement with, our Resident Coordinators and Country Teams.

    And hope that lies in the potential of the Pact for the Future to accelerate progress towards the Sustainable Development Goals — a Pact that secured consensus at the Summit of the Future.  

    Let me be clear.

    While the context has shifted since the Pact’s adoption, its commitments are more important than ever.

    This includes its bold calls for action on all the elements required to boost progress on sustainable development — including financing for development, the provision of debt relief, and strengthening the international financial architecture.

    We cannot allow headwinds to blow these commitments off course.

    We will continue working closely with all Member States and partners to keep our agenda on track, deepen our ongoing transformation, and to do so in the context of the UN80 initiative to drive progress across the system.

    And we will ensure we can fully deliver and maximize the benefits of every single mandate of the landmark General Assembly resolution 72/279 that ushered in the reforms of the UN development system.

    Excellencies,

    In this spirit, and guided by the report under discussion today, I’d like to highlight four areas where we are making progress, where more is needed, and how Member States can support this work.  

    First — we must hold fast to our commitment to the Sustainable Development Goals.

    This is a critical year for development.

    But across the board, we face a crisis in the means of implementation — from financing to trade, governance and institutional capacity to accelerate progress. 

    Acceleration means Member States keeping alive the bold commitments they made in adopting the Goals in 2015, as well as through the Pact for the Future.

    These include easing the debt burden on developing countries, scaling innovative sources of finance, and pushing forward on reforms to the international financial architecture.

    The upcoming Fourth International Conference on Financing for Development in Sevilla will be a key moment in driving the change we need.

    Acceleration requires bold transformations.

    We must continue traveling the clear pathways to progress outlined in the report — key areas where we can spur progress across all the Goals, such as food systems, energy access, digital connectivity, and supporting economic growth through trade. 

    Now is the time to build more political will and institutional capacity to support these essential shifts and drive progress.

    Second — we will continue tailoring our operations to the needs and priorities of host countries.

    We know we’re on the right track.

    In the last year alone, Resident Coordinators supported over 160 countries.

    Our work across the system and with governments is becoming more integrated and coordinated every year.

    87 per cent of host governments — and 83 per cent of donor country governments — agreed that UN entities are working more collaboratively than before the reform.

    And 98 per cent of host governments agreed that UN activities, as articulated in our Cooperation Frameworks, are closely or very closely aligned to national priorities.

    The evidence is clear.

    The reinvigorated Resident Coordinator system we have built together is fast-becoming a launchpad for providing deeper development impact for people and planet alike:

    By gathering partners together to shape policy and financing solutions to accelerate development…

    By supporting countries’ efforts on financing, data-collection, trade and sustainable economic growth…

    And by constantly striving to find efficiencies and innovations, and drive accountability and results across our work together.

    We are rightly proud of our work, and we will protect and build on this as we move forward.

    We know we can do better. And we will.

    Despite high levels of support, the report shows worrying gaps between the priorities of our Cooperation Frameworks and the operational, governance and financial tools to bring them to life.

    Moreover, the Management Accountability Framework established to ensure greater accountability in collective UN efforts is not being applied evenly across the system.

    Our newly established evaluation office for the development system is now preparing its first independent report to this body this year to continue driving accountability and results, and ensure greater alignment of UN configuration and programming with country needs.

    I ask all Member States to support this important work.

    Third — funding.

    I am deeply concerned about the system’s funding situation.  

    Core contributions to development agencies are insufficient, plunging to 16.5 per cent of total funding, with these contributions declining to 12 per cent for some agencies. 

    This is a far cry from the 30 per cent target countries committed to in the Funding Compact.

    In December, the General Assembly agreed to my proposal to secure $53 million from the regular budget for the Resident Coordinator system — a much-needed boost at a critical time.

    To be entirely frank, I have to say that the proposal was much higher but at least this compromise was found. 

    But this minimum level of support is insufficient to reach the maximum ambition we need.

    Our ability to drive development and deliver support in a sustained way is at risk — at a moment when countries need us most.

    For our part, we will continue working closely with you to close funding gaps, and ensure joint programming is well-funded and directed to the most vulnerable people and communities.

    But more than ever, we need flexible, sustainable, predictable and innovative sources of funding. 

    I urge Member States to implement the new Funding Compact, without delay.
    In the current context of shrinking resources, the Funding Compact becomes even more fundamental — in particular, its emphasis on pooled funds that allow for more strategic resource allocation depending on actual needs and priorities on the ground.  

    And fourth — we will continue pushing for efficiencies that maximize the use of development resources.

    The report demonstrates that our reforms are achieving results — with over $592 million in efficiencies in 2024, well above our initial target of $310 million.

    These savings were achieved through individual agency efforts to streamline services and supply chains, as well as through the increased use of shared services across entities — including travel, conference and administrative functions, and other key efficiencies.

    But we can and must do more.

    From the very beginning of my mandate, we embarked on an ambitious reform agenda to strengthen not only how we work and deliver — but how we leave no stone unturned in finding cost-savings and efficiencies.

    The UN80 initiative is an important opportunity to carry this work forward.

    By rapidly identifying efficiencies and improvements in the way we work.

    By ensuring that a greater share of our resources are allocated for development programmes rather than administrative costs. 

    By thoroughly reviewing the implementation of all mandates given to us by Member States, which have significantly increased in recent years.   

    And through a strategic review of deeper, more structural changes and programme realignment in the UN System.

    UN80 is not about responding to global cuts.

    It’s about responding to global needs.

    The needs of people around the world.
    The need to ensure that we support them in the right way, with the right programmes and country configurations.

    And the need to be as efficient, streamlined and impactful as we can be.

    Again, the support of all Member States will be critical as we strive to become more cost-effective in our operations.

    Excellencies, Ladies and Gentlemen,

    As we continue travelling this road to reform and renewal, we must keep our focus where it belongs:  

    On the people around the world who are counting on us to get this right.

    The report we are discussing today is not just about numbers.

    It’s about the services and support we provide to some of the most vulnerable and underserved people and communities on earth.

    It’s about hardworking taxpayers around the world who underwrite our important work.

    It’s about responding more effectively to the expectations of Member States and aligning with national priorities.

    And it’s about our constant pursuit of efficiency, effectiveness and accountability, while staying true to values that have driven our mission from the very start.

    Let’s continue working as one, in solidarity, to build an even stronger and more effective United Nations — one that is ready to meet the challenges of today and tomorrow. 

    One that is fit for purpose and ready to serve.

    We count on the full support of Member States as we move forward.

    Thank you.

    ******

    [all-French]

    Excellences, Mesdames, Messieurs,

    Je vous remercie de prendre part à cette manifestation de premier plan en cette année importante.

    L’Organisation des Nations Unies fête cette année ses 80 ans.

    Mais cet anniversaire est tempéré par une réalité dure et indéniable, qui transparaît à chaque page du rapport que je présente aujourd’hui.

    À moins de cinq ans de l’échéance de 2030, nous sommes face à une véritable crise du développement.

    La réalisation des objectifs de développement durable accuse un retard alarmant.

    Et certains des gains durement acquis ces dernières années risquent d’être réduits à néant.

    Face à la pauvreté, à la faim, aux inégalités, à la crise climatique, aux infrastructures en déclin et au manque de ressources dans l’éducation et la protection sociale, les progrès demeurent trop lents.

    Il ne faut pas perdre de vue qu’une crise du développement est, avant tout, une crise humaine.

    La vie et l’avenir de millions de personnes sont en jeu.

    Cette crise du développement est aussi une crise du financement.
    Dans tous les secteurs, les ressources se réduisent comme peau de chagrin, et ce depuis un certain temps.

    Ainsi, comme indiqué dans mon rapport, les contributions financières versées en 2023 au système des Nations Unies pour le développement ont chuté de 9 milliards de dollars US – soit 16 % – par rapport à l’année précédente.

    On peut imaginer les chiffres de 2024 en tenant compte de ce que nous avons constaté dans les décisions récentes.

    Notre Organisation est de plus en plus appelée à faire plus avec moins, et cela ne devrait pas changer de sitôt.

    Cette année, plusieurs bailleurs de fonds mettent un coup de frein sans précédent à leurs engagements en matière d’aide sur le terrain.

    Cela étant, le rapport que nous examinons aujourd’hui est également porteur d’un vrai message d’espoir.

    Cet espoir repose sur plusieurs éléments : sur les progrès que nous avons accomplis ensemble dans la réforme et le repositionnement du système des Nations Unies pour le développement, le rendant plus efficace et plus économique ;

    Sur l’Initiative ONU80, qui, dans le prolongement de ces réformes, induira les changements dont nous avons besoin à travers l’ensemble du système pour une organisation plus efficace, plus cohésive et plus efficiente ;

    Sur l’appui résolu que vous continuez de manifester à nos coordonnatrices et coordonnateurs résidents et à nos équipes de pays, et sur votre détermination à travailler à leurs côtés dans un esprit de collaboration ;

    Et sur le potentiel qui réside dans le potentiel du Pacte pour l’avenir d’accélérer les progrès vers les Objectifs de développement durable – un Pacte qui a fait l’objet d’un consensus lors du Sommet de l’avenir.

    Soyons clairs.

    Le Pacte a beau avoir été adopté dans un contexte différent, les engagements qui y sont énoncés demeurent plus importants que jamais.

    Ils exigent notamment de l’audace dans tous les aspects propices au développement durable – y compris le financement du développement, l’allègement de la dette et le renforcement de l’architecture financière internationale.

    Nous ne pouvons laisser les difficultés du moment nous faire dévier de ces engagements.

    Nous continuerons de collaborer étroitement avec tous les États Membres et tous les partenaires pour poursuivre la bonne mise en œuvre de nos priorités, parfaire la transformation de l’Organisation et, dans le cadre de l’Initiative ONU80, encourager des progrès concrets dans l’ensemble du système.

    Nous veillerons également à exécuter pleinement et de manière optimale tous les mandats prévus dans la résolution 72/279 de l’Assemblée générale, texte majeur qui a ouvert la voie à la réforme du système des Nations Unies pour le développement.

    Excellences,

    Dans ce contexte, et dans le droit fil du rapport qui est à l’examen aujourd’hui, je voudrais souligner quatre points pour récapituler les progrès que nous accomplissons, les domaines où nous devons redoubler d’efforts et l’aide que les États Membres peuvent apporter en ce sens.

    Premièrement, nous devons garder le cap sur les objectifs de développement durable.

    Cette année est cruciale pour le développement.

    Pourtant, nous assistons à une crise généralisée des moyens de mise en œuvre, qui touche aussi bien le financement que le commerce, la gouvernance ou la capacité institutionnelle à accélérer les progrès.

    Si l’on veut accélérer la cadence, il faut que les États Membres honorent les engagements ambitieux qu’ils ont pris en 2015 en adoptant les ODD et dans le cadre du Pacte pour l’avenir.

    Cela inclut notamment l’allègement du fardeau de la dette des pays en développement, la mobilisation de sources de financement innovantes et de faire avancer la réforme de l’architecture financière internationale.

    La quatrième Conférence internationale sur le financement du développement, qui se tiendra à Séville, constituera un moment clé moment clé dans la conduite des changements nécessaires.  

    Pour passer à la vitesse supérieure, il faut engager une transformation audacieuse.

    Nous devons poursuivre la stratégie que nous avons clairement définie en vue de la réalisation de tous les Objectifs, notamment dans les domaines des systèmes alimentaires, de l’accès à l’énergie, de la desserte numérique ainsi que du commerce au service de la croissance économique.

    Le moment est venu de mobiliser une plus grande volonté politique et de renforcer les capacités institutionnelles pour accompagner ces transformations essentielles et insuffler une dynamique de progrès.

    Deuxièmement, nous continuerons d’adapter nos opérations aux besoins et aux priorités des pays hôtes.

    Nous savons que nous sommes sur la bonne voie.

    L’année dernière, les coordonnatrices et coordonnateurs résidents ont apporté un appui concret dans plus de 160 pays.

    Le travail mené dans les entités du système et avec les gouvernements gagne chaque année en intégration et en coordination.

    87 % des pays hôtes – et 83 % des pays donateurs – considèrent que les entités des Nations Unies collaborent plus qu’avant la réforme.
    Et 98 % des pays hôtes estiment que les activités de l’ONU prévues dans nos plans-cadres de coopération concordent bien ou très bien avec les priorités nationales.

    Les faits sont là.

    Le système redynamisé des coordonnatrices et coordonnateurs résidents que nous avons mis en place ensemble est en passe de devenir un outil encore plus efficace au service du développement, tant pour les populations que pour la planète.

    À cet égard, il réunit les partenaires pour définir l’action à mener et trouver des solutions financières visant à accélérer le développement…

    Il accompagne les pays dans les domaines du financement, de la collecte de données, de la réglementation, du commerce et de la croissance économique durable…

    Et il cherche continuellement à faire des économies, à innover, à faire respecter le principe de responsabilité et à encourager les progrès dans tous les aspects de notre action commune.

    Nous sommes profondément fiers de ce que nous faisons, et nous continuerons sur notre lancée tout en préservant les acquis.

    Nous pouvons faire mieux, nous le savons. Et nous le ferons.

    Malgré l’adhésion que suscite notre action, le rapport fait apparaître un contraste inquiétant entre les priorités fixées dans nos plans-cadres de coopération et les moyens opérationnels et financiers et les outils de gouvernance qui permettent de les concrétiser.

    En outre, le cadre de gestion et de responsabilité, établi pour renforcer la responsabilité dans l’action collective des Nations Unies, n’est pas appliqué de manière uniforme dans toutes les entités du système.

    Notre bureau chargé des évaluations dans le système pour le développement, récemment établi, rédige actuellement son premier rapport indépendant, qu’il présentera au Conseil économique et social cette année, et poursuivra son action pour favoriser la définition des responsabilités, concourir à l’amélioration des résultats et faire en sorte que la présence et les programmes des Nations Unies soient mieux adaptés aux besoins de chaque pays.

    Je demande à tous les États Membres d’appuyer ce travail essentiel.

    Troisièmement, le financement.

    Je suis très préoccupé par la situation financière du système.

    Les contributions aux ressources de base des organismes de développement sont insuffisantes : elles ne représentent plus que 16,5 % du financement total, voire 12 % pour certaines entités.

    On est bien loin de l’objectif de 30 % que les pays se sont engagés à atteindre dans le cadre du pacte de financement.

    En décembre, l’Assemblée générale a accepté la proposition que j’ai faite de prélever sur le budget ordinaire un montant de 53 millions de dollars pour le système des coordonnatrices et coordonnateurs résidents. C’est un coup de pouce indispensable à un moment critique.

    Pour être tout à fait franc, je dois dire que la proposition était beaucoup plus élevée, mais au moins ce compromis a été trouvé.

    Mais ce modeste niveau de soutien n’est pas à la hauteur de l’ambition nécessaire.

    Notre capacité à stimuler le développement et à apporter une aide durable est compromise, or c’est maintenant que les pays ont le plus besoin de nous.

    Nous continuerons à collaborer étroitement à vos côtés pour que les déficits de financement se résorbent et pour que la programmation conjointe soit dotée de moyens financiers suffisants et profite aux personnes et aux populations les plus vulnérables.

    Néanmoins, nous avons plus que jamais besoin de sources de financement souples, durables, prévisibles et novatrices.

    J’invite instamment les États Membres à mettre en œuvre sans délai le nouveau pacte de financement.

    À l’heure où les ressources s’amenuisent, le pacte de financement s’impose comme un dispositif incontournable, notamment par l’importance accordée aux fonds de financement commun, qui permettent d’allouer les ressources plus stratégiquement, en fonction des priorités et des besoins réels sur le terrain.

    Enfin quatrièmement, nous continuerons de chercher à optimiser l’utilisation des ressources consacrées au développement.

    Le rapport démontre que nos réformes portent leurs fruits : nous avons réalisé plus de 592 millions de dollars d’économies en 2024, soit bien plus que notre objectif initial de 310 millions de dollars.

    Ces économies ont été rendues possibles grâce aux efforts déployés par chaque entité pour rationaliser les services et les chaînes d’approvisionnement, ainsi qu’à un recours accru aux services partagés, notamment s’agissant des voyages, des services de conférence et des fonctions administratives, et à d’autres gains d’efficacité importants.

    Mais nous pouvons et devons en faire plus.

    Dès le début de mon mandat, nous avons lancé un programme de réforme ambitieux destiné non seulement à améliorer nos méthodes de travail et nos résultats, mais aussi à explorer toutes les pistes possibles pour réaliser des économies et des gains d’efficacité.

    L’Initiative ONU80 offre une excellente occasion de poursuivre sur cette lancée.

    En dégageant rapidement des moyens de gagner en efficacité et d’améliorer nos méthodes de travail.

    En consacrant une plus grande partie de nos ressources aux programmes de développement plutôt qu’aux coûts administratifs.

    En procédant à un examen rigoureux de l’exécution des mandats qui nous sont confiés par les États Membres – et dont le nombre a considérablement augmenté ces dernières années.

    Et en menant un examen stratégique des changements plus profonds et plus structurels ainsi qu’un réalignement des programmes au sein du système des Nations Unies.

    L’Initiative ONU80 n’est pas une réponse aux coupes budgétaires mondiales…

    Mais une réponse aux besoins mondiaux.

    Aux besoins des populations du monde entier.

    À la nécessité de faire en sorte que ces personnes soient soutenues comme il se doit, à travers des programmes adaptés au contexte national.

    Et à l’impératif de travailler de façon aussi efficace, rationnelle et utile que possible.

    Là encore, nous aurons besoin de l’appui de tous les États Membres pour rendre nos activités plus efficientes.

    Excellences, Mesdames et Messieurs,

    Alors que nous poursuivons ce chemin de réforme et de renouveau, nous devons garder à l’esprit le plus important : 

    Celles et ceux qui, dans le monde entier, comptent sur nous.

    Le rapport que nous examinons aujourd’hui ne se limite pas aux chiffres.

    Le rapport concerne les services et l’aide que nous apportons à certaines des personnes et des communautés les plus vulnérables et défavorisées de la planète.

    Il concerne les contribuables du monde entier, dont le dur labeur finance notre important travail.

    Il concerne notre capacité à mieux répondre aux attentes des États Membres et agir conformément aux priorités de chaque pays.

    Et il concerne notre quête constante d’efficacité, d’efficience et de responsabilité – tout en restant fidèles aux valeurs fondamentales qui nous animent depuis le tout début.

    Continuons d’œuvrer dans l’unité et la solidarité pour construire une ONU encore plus forte et encore plus efficace – prête à relever les défis d’aujourd’hui et de demain.

    Une ONU adaptée à sa mission et prête à agir.

    Nous comptons sur le plein soutien des États Membres pour continuer à aller de l’avant.

    Je vous remercie.
     

    MIL OSI United Nations News –

  • MIL-OSI Canada: Assistance payments will continue during Canada Post strike

    Source: Government of Canada regional news

    The Province is taking the necessary steps to ensure people continue to receive provincial disability and income assistance in the event of a labour dispute at Canada Post.

    The contract between Canada Post and the Canadian Union of Postal Workers (CUPW) is expiring. CUPW has issued a 72-hour notice to begin strike activity on Friday, May 23, 2025, at midnight.

    In preparation for the May 2025 cheque issue, the Ministry of Social Development and Poverty Reduction is working to ensure the distribution of payments is done in a timely manner and is incorporating lessons learned during the November-December 2024 strike. Despite the mail service disruptions during the 2024 strike, the ministry distributed 98% of monthly payments, aligning with normal distribution rates.

    Income and disability assistance

    It is vital that people receive their provincial income and disability assistance in a timely manner and the updated distribution plan ensures financial supports will be distributed.

    All monthly cheques that are set to be mailed to clients and service providers will instead be sent directly to ministry offices for distribution.

    Ministry clients and service providers who are unable to attend the ministry office to pick up their cheque can contact the ministry to make alternative distribution arrangements. 

    Approximately 88% of people will receive their payments by direct deposit, despite any potential Canada Post service disruption. For those who have not signed up for direct deposit, alternative options are available:

    • Sign up for direct deposit by providing their bank account information by contacting the ministry:
      • through a toll-free phone call: 1 866 866-0800;
      • online: MySelfServe.gov.bc.ca; and
      • in person by attending a ministry office
    • Pick up at the nearest ministry office or Service BC office that provides ministry services.
    • Provide a written letter with your signature to allow for someone else to pick up the cheque on your behalf.

    Senior’s Supplement

    For seniors, primary financial supports are provided by the federal government through programs such as Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). Any questions about delivery of these supports should be directed to the federal government through Service Canada at 1 800 277-9914

    Through the provincial Senior’s Supplement, the B.C. government tops up federal assistance amounts for seniors with low incomes. The Senior’s Supplement ranges from $1 to $100 for singles and $2 to $220.50 for couples.

    The provincial Senior’s Supplement, if paid by mailed cheques, will be delivered by Canada Post volunteers as part of the Socio-Economic Cheque Delivery program. This program prioritizes delivery to ensure essential benefits reach seniors who rely on them.

    Concerns and contact information

    Anyone concerned about not receiving their assistance cheque or Senior’s Supplement, or who has questions, is encouraged to contact the ministry at 1 866 866-0800 to discuss options. To make other arrangements for the Senior’s Supplement, recipients can also email: FASBSENI@gov.bc.ca

    Learn More:

    Locations and office hours of Ministry of Social Development and Poverty Reduction offices and Service BC offices offering ministry services are available here: https://www2.gov.bc.ca/gov/content?id=5658DF77EF6645308225C98B39112198

    For more information about income assistance, visit: https://www2.gov.bc.ca/gov/content?id=618B0DF0FFF4468AA591F48F27E86D10

    For more information about disability assistance, visit: https://www2.gov.bc.ca/gov/content?id=F0457B051B5346D284B1C586374CF2E1

    For more information about the provincial Senior’s Supplement, visit: https://www2.gov.bc.ca/gov/content/family-social-supports/seniors/financial-legal-matters/income-security-programs/seniors-supplement

    For more information about the federal assistance for seniors, such as OAS and GIS, visit: https://www.canada.ca/en/employment-social-development/campaigns/seniors.html

    MIL OSI Canada News –

  • MIL-OSI Europe: Written question – Public health risk from the presence of asbestos in public buildings in Greece – E-001913/2025

    Source: European Parliament

    Question for written answer  E-001913/2025
    to the Commission
    Rule 144
    Galato Alexandraki (ECR)

    Despite the extraction and use of asbestos having been banned in the EU for almost 25 years, thousands of public buildings containing this dangerous material are still in use in Greece, as confirmed by recent incidents. Recently, asbestos was found in the Faculty of Philosophy of the Aristotle University of Thessaloniki, while shortly afterwards chrysotile (‘white’ asbestos) was found in a primary school in Rhodes. According to claims from students and teachers, the existence of asbestos is discovered by chance, without prior systematic checks, while removal is carried out piecemeal, putting the health of pupils, students and employees at ongoing risk.

    At the same time, there are still reports of hundreds of public buildings with asbestos in ceilings, insulation or tiles, while removal procedures seem to be delayed due to lack of funding and planning, and this constitutes a serious shortcoming in prevention in public health matters.

    In view of the above:

    • 1.How and by when should asbestos be completely removed from public buildings in Greece in accordance with EU directives? Has this been checked by the Commission?
    • 2.Are there financial tools and technical support from the EU that can be used to accelerate the control and replacement procedures?

    Submitted: 13.5.2025

    Last updated: 20 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Importance of regional airport infrastructure – E-001864/2025

    Source: European Parliament

    Question for written answer  E-001864/2025
    to the Commission
    Rule 144
    Markus Ferber (PPE), David McAllister (PPE), Stefan Köhler (PPE), Christian Doleschal (PPE)

    Europe’s many regional airports enable international exchange and connect citizens, companies and SMEs from all over Europe with the world.

    Despite this key role for economic activity, in recent years the financial situation for regional airports has worsened mainly due to extrinsic shocks, such as the COVID-19 crisis, global turbulence in the aviation sector and Russia’s war against Ukraine. The financial situation of many regional airports is bleak, threatening their core existence and endangering their important role for societies and regional prosperity.

    In this light I would like to ask:

    • 1.Will the Commission, in its evaluation of the aviation State aid guidelines, consider the need for maintaining and modernising Europe’s regional airport network, which is not only about mobility, but also about safeguarding jobs and innovation in its industrial sectors?
    • 2.Could the Commission support a framework where State aid rules take into account the long-term industrial and technological strategies of Germany, particularly in relation to decarbonised aviation?
    • 3.How will the Commission assess the need for German regional airports to remain ready to support the rollout of electric aircraft and other innovations that are critical to the competitiveness of Germany’s industry?

    Submitted: 8.5.2025

    Last updated: 20 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Subsidies for EU prejudices? – E-001730/2025

    Source: European Parliament

    Question for written answer  E-001730/2025
    to the Commission
    Rule 144
    Virginie Joron (PfE)

    The Commission has provided EUR 230 million in grants to the Euronews channel over 10 years[1]. The European institutions have also signed a framework contract worth EUR 133 million over four years, from September 2023 to September 2027, for media and advertising strategies (COMM/DG/FWC/2023/30)[2]. Over the period 2014-2023, the Commission is reported to have paid EUR 88 million to the Havas group and EUR 37 million to Euractiv[3].

    In addition, Parliament, through its Directorate-General for Communication, has earmarked a maximum of EUR 9.1 million in media grants in 2023. For example, in 2023 the newspaper Dernières Nouvelles d’Alsace received grants of EUR 150 000, while 20 minutes received EUR 175 000[4].

    It is hard to believe that the media can remain independent under these conditions and resist Brussels’ disinformation.

    • 1.In total, how many payments and grants were awarded by the Commission to the media, journalists, news agencies, ERA-NET Plus and fact-checking services in 2023 and 2024, bearing in mind that Grok artificial intelligence estimates these payments to be between EUR 78 million and EUR 88 million?
    • 2.Which media or journalists who are critical of the Commission were subsidised?
    • 3.Are European media subsidies compatible with electoral rules and the rules on free and undistorted competition?

    Submitted: 30.4.2025

    • [1] https://brusselssignal.eu/2025/02/eu-spending-who-is-getting-the-quiet-billions-from-the-european-commission/
    • [2] Framework contract COMM/DG/FWC/2023/30 for media strategy, planning and advertising from September 2023 to September 2027. Invitation to tender COMM/AWD/2022/54. The maximum total amount under this framework contract was EUR 132.82 million over four years, but this amount represented the ceiling for several European institutions, including EUR 50 million for the European Parliament.
    • [3] https://ec.europa.eu/budget/financial-transparency-system/analysis.html
    • [4] https://www.europarl.europa.eu/contracts-and-grants/fr/grants/ex-post-publication; https://www.europarl.europa.eu/contracts-and-grants/files/grants/ex-post-publication/en-list-of-grants-awarded-2023.xlsx
    Last updated: 20 May 2025

    MIL OSI Europe News –