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Category: Europe

  • MIL-OSI United Kingdom: Four payment schemes open to help with the cost of living: Apply

    Source: City of Portsmouth

    Four financial support schemes are currently open for Portsmouth residents on low income to apply for – but hurry as some close soon.

    Portsmouth City Council is offering:

    • A child voucher scheme (closes 28 February) – for 0-19s or someone at least 20 weeks pregnant who is part of a household that earns below £1,800 a month.
    • The final round of the Exceptional Hardship scheme (closes 14 March) – one-off payments for adults in extreme financial hardship (check the website for full eligibility)
    • Energy Payment Scheme for 16-24s and carers (closes 17 March) – those on low-income and receiving qualifying benefits (check the website for full eligibility)

    These schemes are funded by the UK Government’s Household Support fund, and you can find the eligibility criteria for all these and apply at https://www.portsmouth.gov.uk/hsf

    We are still also offering our council-funded:

    • Portsmouth Older Persons Energy Payment open until 7 March

    This is a one-off payment this year for some pensioners on low income who did not receive the Government’s Winter Fuel Payment. Find the full criteria and apply here.

    Pension Credit support events

    On the same webpage you’ll find information about Pension Credit, how pensioners can find out if they might be eligible and missing out on money. We’re hosting a series of Pension Credit information sessions taking place across the city people can come along to, with dates and locations on the webpage.

    Leader Cllr Steve Pitt said:

    “We want these hardship support payments to reach far and wide and as many Portsmouth residents as possible. So please do let friends, family, and those you work with know about the support that is currently available, or apply yourself if you’re eligible.

    “Our cost of living staff are always available to help anyone with advice about these schemes or the wider support that’s available to them.”

    Cost of living support for all

    • Call our cost of living telephone number 023 9284 1047 for help with these schemes, or if you have general concerns about money and want some professional advice. It’s open 9am-5pm Monday to Thursday, 9am – 4.30pm on Friday, or alternatively visit our cost of living online hub.

    MIL OSI United Kingdom –

  • MIL-OSI: Haffner Energy and ATOBA Energy collaborate to unlock the SAF value chain and scale the market

    Source: GlobeNewswire (MIL-OSI)

    This strategic partnership secures long-term offtake agreements, unlocking financing and accelerating the scale-up of SAF production.               

     

    Vitry-le-François, France / Lyon, France (February 20, 2025, 6:00pm CEST)

    Haffner Energy, a leading solid biomass-to-clean fuels solutions provider, and ATOBA Energy, a SAF aggregator committed to unlocking the Sustainable Aviation Fuel (SAF) value chain by solving the financial dilemma between producers and final offtakers, are joining forces to accelerate the development of SAF projects and facilitate their financing, they announced today.

    France-based Haffner Energy relies on its 31-year experience to design, manufacture, supply, license, and operate proprietary disruptive clean fuels solutions, including critical technology for SAF production, using all types of biomass residues wet or dry, such as agricultural and municipal waste. The company has already announced the development of a couple of SAF projects, notably Paris-Vatry SAF in France, where full scale production is expected to be reached by 2030 when the next stage of the European SAF mandate kicks in. Partnering with SAF aggregator ATOBA will significantly enhance SAF offtake then.

    “We are particularly excited about this partnership with ATOBA, as it will facilitate the financing of our SAF projects, starting with Paris-Vatry. One of the most crucial challenges in securing financing for SAF production facilities is the ability to obtain offtake contracts that guarantee the purchase of SAF at a stable, price for periods exceeding five years. The key advantage provided by ATOBA is that it offers this guarantee while significantly reducing risks and commitments for airline clients. This will facilitate and accelerate their engagement in SAF procurement. As such, it is a win-win model for all stakeholders and we are extremely pleased that ATOBA has identified us as a strategic and unique player in the SAF ecosystem”, said Haffner Energy co-founder and CEO Philippe Haffner.

    Indeed, the SAF market is facing challenges in expanding at the rate demanded by environmental needs and regulatory mandates. While producers need long-term, stable pricing contracts to amortize their investments, airlines seek assurance of optimum market prices in the context of a still-immature industry with diverse competing technologies. This conflict of expectations currently hinders the development of SAF production projects, and ATOBA’s unique business model brings the solution.

    “We are delighted to launch an offtake agreement with Haffner Energy, a company that has demonstrated for decades the quality and robustness of its biomass transformation technological and industrial solutions. Haffner Energy plays a key role in unlocking second-generation feedstocks, which are essential for both Alcohol-to-Jet and Gas Fischer-Tropsch SAF pathways. At ATOBA, we strongly believe that a variety of technologies and pathways are required to meet our aviation decarbonization targets, as the best production route and feedstock depend on the specific regional characteristics. Having Haffner Energy in our portfolio of SAF producers is an essential brick in our aggregation strategy, reinforcing our ability to provide diversified, reliable, and scalable SAF solutions to the market”, highlighted ATOBA Energy co-founder and CEO Arnaud Namer.

    Also based in France, ATOBA uniquely unlocks the SAF financial stalemate through its upstream and downstream SAF offtake portfolio management. By offtaking from diversified producers and technologies like Haffner Energy, ATOBA mitigates technological and pricing risks associated with the various SAF production pathways, and enables the closing of long-term offtake agreements among airlines, jet-fuel distributors, SAF producers, and financial institutions, which are essential for scaling the industry.

     

    About Haffner Energy

    Haffner Energy designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues. Its innovative, patented thermolysis technology produces Logo Blue ATOBA Energy – small Sustainable Aviation Fuel, as well as renewable gas, hydrogen, and methanol. The company also contributes to regenerating the planet through the co-production of biogenic CO2 and biochar. A family-owned company co-founded 32 years ago by Marc and Philippe Haffner, Haffner Energy has been working from the outset to decarbonize industry and all forms of mobility, as well as governments and local communities. Further information is available at www.haffner-energy.com.

     

    About ATOBA Energy

    ATOBA is the midstream Sustainable Aviation Fuel (SAF) aggregator focused on accelerating the aviation industry’s energy transition through solving the financial dilemma between airlines and producers. ATOBA provides long-term SAF contracts to airlines and jet-fuel resellers at optimized market SAF pricing indexes. The company brings high security and competitiveness to the SAF supply chain for its airline partners via offtake from diversified producers and technologies, as well as best-in-class sector expertise. Simultaneously, ATOBA’s aggregation strategy allows the SAF industry to scale by providing producers with long-term offtake agreements that support their Final Investment Decisions for their  SAF production plants. Further information is available at www.atoba.energy

     

    Media relations

    Haffner Energy laetitia.mailhes@haffner-energy.com  tel. +33 (0)6 07 12 96 76

     ATOBA Energy press@atoba.energy  tel. +33 (0)6 11 65 92 74

    Investor relations

    Haffner Energy investisseurs@haffner-energy.com 

    ATOBA Energy investors@atoba.energy tel. +1 310 874 7871    

     

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: The UK has information that Proxies directed by the Russian state have plans to interfere with CAR elections: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Statement by Ambassador James Kariuki, UK Deputy Permanent Representative to the UN, at the UN Security Council meeting on the Central African Republic.

    President, like others I extend condolences to the fallen Tunisian peacekeeper’s family, and express our gratitude for the personal sacrifices that peacekeepers and their families make in support of peace.

    We condemn all attacks on UN peacekeepers.

    I will make three points today.

    First, the UK welcomes the work by the government of CAR, in coordination with MINUSCA, to advance voter registration for elections. 

    The elections should be an important milestone in expanding the political participation of all individuals in CAR.

    However, the UK has information that Proxies directed by the Russian state have plans to interfere with CAR elections, including through suppressing political voices and conducting disinformation campaigns to interfere in political debate. 

    These actions demonstrate that Russian proxies act without regard for CAR’s sovereignty in order to secure continued support for their destabilising objectives. 

    Furthermore, they jeopardise the dedicated UN role, mandated by this Council, to help support inclusive, free and fair elections in 2025 and 2026.

    Second, the UK also welcomes progress by the government of CAR to improve its security and accountability capacity. 

    This includes delivering the first disciplinary sanctions against magistrates since 2013.

    However, as the Secretary-General’s report highlights, CAR faces many security challenges. 

    Attacks by Sudanese Rapid Support Forces in CAR threaten progress made in implementing the 2019 Political Agreement. 

    The UK calls on all actors to respect CAR’s territorial integrity. 

    We also encourage the government of CAR to enhance border management with Sudan to support refugees and prevent their exploitation by armed elements.

    Third, we remain concerned at the human rights situation in the country. 

    The UK condemns reports of ‘Wagner Ti Azande’ and other armed groups committing atrocities against civilians, including conflict-related sexual violence. 

    Grave violations against children are also increasing. 

    We urge the government of CAR to enhance their efforts to identify recruited children and secure their handover to child protection actors. 

    We also call on all actors to the conflict to uphold their obligations under International Humanitarian and Human Rights Law.

    President, to conclude, the coming year will be important for supporting peace and security in CAR, including through elections. 

    The UK remains committed to supporting MINUSCA and the government of CAR to embed genuine long-term security while preserving CAR’s sovereignty.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Coface : 2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

    Source: GlobeNewswire (MIL-OSI)

    2024 results: net income at €261.1m, up 8.6%, and proposed dividend at €1.40

    Paris, 20 February 2025 – 17.35

    • Turnover: €1,845m, down -0.6% at constant FX and perimeter and down -1.3% on a reported basis
      • Trade credit insurance revenue decreased by -2.2% at constant exchange rates, with slightly positive customer activity in Q4-24
      • Client retention is still high at 92.3% but down slightly from 2023 records; pricing remained negative at -1.4%, in line with historical trends
      • Business information once again recorded double-digit growth (+16.3% at constant FX); factoring stabilised at +0.3% with solid growth in Q4-24
    • Net loss ratio at 35.2%, improved by 2.5 ppts; net combined ratio at 65.5%, up 1.2 ppt
      • Gross loss ratio at 33.4%, improved by 2.4 ppts with still high opening year reserving and high reserve releases
      • Net cost ratio increased by 3.6 ppts to 30.2%, reflecting slightly lower revenues and continued investment, in line with our strategy
      • Net combined ratio in Q4-24 at 68.7%, up 9.7 ppts due to a higher net cost ratio and a very low combined ratio in Q4-23 (59.0%)
    • Net income (group share) of €261.1m, up +8.6%, of which €53.4m in Q4-24, the highest annual figure since the adoption of IFRS 17. Annualised RoATE1at 13.9%
    • Coface continues to be backed by a solid balance sheet:
      • Estimated solvency ratio at ~196%2, above the upper end of target range (155% to 175%)
      • Proposal to distribute3 a dividend per share of €1.40 representing an 80% pay-out ratio
      • Earnings per share reached €1.75
    • Coface signed the acquisition of Cedar Rose, strengthening its capabilities in information services in the Middle East and Africa
    • Gonzague Noël has been appointed as Group Chief Operating Officer (COO)

    Unless otherwise indicated, change comparisons refer to the results as at 31 December 2023

    Xavier Durand, Coface’s Chief Executive Officer, commented:
    “2024 was marked by the launch of our Power the Core strategic plan which is deliberately focused on innovation.
    In an environment characterised by weak economic growth, a decrease of our clients’ activity and an increase in the number of bankruptcies, the discipline of our underwriting enabled us to contain the increase in the combined ratio, which rose moderately to 65.5%. Finally, we benefited from the repositioning of our investment portfolio to achieve a return on average tangible equity of 13.9%, above our mid-cycle targets. The net income of €261m marked the highest level since the transition to IFRS 17.
    All these achievements would not have been possible without the engagement of our employees.
    These good results and solid solvency ratio of 196% allow us to propose the payment of a dividend of €1.40 per share to the Shareholders’ meeting.”

    Key figures at 31 December 2024

    The Board of Directors of COFACE SA approved the consolidated financial statements at 31 December 2024 at its meeting of 20 February 2025. The Audit Committee at its meeting on 18 February 2025 also previously reviewed them. Accounts are non-audited, certification is in progress.

    Income statements items in €m 2023 2024 Variation % ex. FX*
    Insurance revenue 1,559.1 1,512.9 (3.0)% (2.2)%
    Services revenue 309.2 331.9 +7.4% +7.4%
    REVENUE 1,868.2 1,844.8 (1.3)% (0.6)%
    UNDERWRITING INCOME/LOSS AFTER REINSURANCE 395.4 368.7 (6.8)% (5.3)%
    Investment income, net of management expenses, excluding finance costs 12.4 91.7 638.0% 595.7%
    Insurance Finance Expenses (40.0) (42.5) 6.4% 12.9%
    CURRENT OPERATING INCOME 367.9 417.9 +13.6% +12.8%
    Other operating income / expenses (5.0) (8.6) 74.5% 74.2%
    OPERATING INCOME 362.9 409.2 +12.8% +12.0%
    NET INCOME (GROUP SHARE) 240.5 261.1 +8.6% +6.3%
             
    Key ratios 2023 2024 Variation
    Loss ratio net of reinsurance 37.7% 35.2% (2.5)% ppts
    Cost ratio net of reinsurance 26.6% 30.2% 3.6% ppts
    COMBINED RATIO NET OF REINSURANCE 64.3% 65.5% 1.2% ppt
             
    Balance sheet items in €m 2023 2024 Variation
    Total equity (group share) 2,050.8 2,193.6 +7.0%
    Solvency ratio 199% 196%1         -3 ppt

    * Also excludes scope impact

    1This estimated solvency ratio constitutes a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    1.   Turnover

    In 2024, Coface recorded a consolidated turnover of €1,844.8 million, down by -0.6% at constant FX and perimeter compared to 2023. As reported (at current FX and perimeter), turnover was down -1.3%.

    Revenue from insurance activities (including bonding and Single Risk) fell -2.2% at constant FX and perimeter, although the year ended on a slightly more positive note (Q4-24 revenue from insurance activities rose +3.7% and total revenue increased +4.3%). Client retention remains high at 92.3% (but down from the record level in 2023), in a competitive market where Coface implemented risk mitigation plans that impacted renewals at the beginning of the year. New business rose to €126m, up €9m compared to 2023 driven by an increase in demand and the positive effects of investments for growth, mainly in the mid-market segment.

    Client activity grew modestly at 0.5%, below the historical average with an improvement in Q4-24 (+0.4%). Over the year, the decline in activity in the metals sector, with lower prices, partially offset the positive trend in the agri-food sector. The price effect remained negative at -1.4% in 2024 (vs. -1.9% in 2023), in line with long-term trends.

    Turnover from non-insurance activities was up +8.2% compared to 2023. Factoring turnover stabilised at +0.3% with a positive Q4-24 that reversed the full-year trend. Information services turnover rose +16.3%. Fee and commission income (debt collection commissions) increased by +19.6%, from a low base, due to the increase in claims to be collected and investments made in third-party debt collection. Commissions were up +6.6%.

    Total revenue – in €m
    (by country of invoicing)    		 2023 2024 Variation % ex. FX4
    Northern Europe 379.6 362.2 (4.6)% (4.6)%
    Western Europe 380.1 391.8 +3.1% +0.4%
    Central & Eastern Europe 177.1 173.8 (1.9)% (3.2)%
    Mediterranean & Africa 526.3 538.5 +2.3% +5.6%
    North America 171.8 176.6 +2.7% (6.4)%
    Latin America 100.3 77.7 (22.5)% +4.0%
    Asia-Pacific 133.1 124.3 (6.6)% (7.1)%
    Total Group 1,868.2 1,844.8 (1.3)% (0.6)%

    In Northern Europe, turnover was down by -4.6% at constant and current FX, due to the selective non-renewal of some loss-making policies at the beginning of the year, despite the stabilisation of client activity in Q4-24.

    In Western Europe, turnover increased by +0.4% at constant FX (+3.1% at current FX and perimeter following the integration of certain African countries in the first half of the year) thanks to a sharp increase in information services sales (+30.3%) combined with a better Q4-24 in credit insurance under the effect of significant business catch-up.

    In Central and Eastern Europe, turnover fell -3.2% at constant FX (-1.9% at current FX) due to the decline in client activity, which weighed on credit insurance, despite a high client retention rate. Factoring was down -1.0% at constant exchange rates.

    In the Mediterranean and Africa region, which is driven by Italy and Spain, turnover rose +5.6% at constant FX and +2.3% at current FX driven by robust sales in credit insurance and services and a stronger economic environment.

    In North America, turnover was down -6.4% at constant FX but increased by +2.7% at current FX due to the integration of Mexico in this scope. The region saw a slowdown in client activity despite higher retention and a fairly strong economic environment.

    In Latin America, turnover rose +4.0% at constant FX but fell -22.5% at current FX. The region is benefiting from a recovery in client activity after 2023 was dominated by risk prevention actions. However, the transfer of Mexico to the North America region had a negative impact.

    In Asia-Pacific, turnover decreased by -7.1% at constant FX and -6.6% at current FX. This lower turnover was due to a slowdown in client activity that robust sales were unable to offset and selective non-renewal of certain policies.

    2.   Result

    • Combined ratio

    The annual combined ratio net of reinsurance was 65.5% in 2024, up 1.2 ppt year on year.

    (i)  Loss ratio

    The gross loss ratio stood at 33.4%, a 2.4 ppts improvement on the previous year. This improvement reflects both the gradual normalisation of the loss experience, offset by rising reserve releases. The amount of claims recorded is now higher than in 2019. The total number of claims decreased, offset by an increase in the number of mid-sized claims.

    The Group’s provisioning policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, reflects the increase in the claims frequency. Strict management of past claims enabled the Group to record 51.9 ppts of recoveries.

    The net loss ratio improved to 35.2%, down 2.5 ppts compared to 2023.

    (ii)  Cost ratio

    Coface is pursuing a strict cost management policy and is continuing to invest, in line with its Power the Core strategic plan. As a result, over the full year 2024, costs rose by +5.5% at constant FX and perimeter, and by +5.3% at current FX.

    The cost ratio before reinsurance was 33.7%, up 2.2 ppts year on year. This rise was mainly due to the decline in revenues (1.0 ppt), embedded cost inflation (1.5 ppt) and ongoing investments (1.5 ppt). In contrast, the improved product mix (information services, debt collection and fee and commission income) had a positive effect. High reinsurance commissions explain the remainder of the variation.

    • Financial result

    Net financial income for 2024 was €91.7m, up sharply compared to 2023. This figure includes capital gains of +€11.4m, which more than offset negative market value adjustments on investments of -€2.9m. The FX effect remained slightly negative at -€2.7m but improved significantly compared to 2023, which was marked by the accounting effect of IAS 29 (hyperinflation) in Turkey and Argentina as well as the sharp devaluation of the Argentine peso.

    The portfolio’s current yield (i.e. excluding capital gains, depreciation and FX impact) was €96.6m, of which €25.7m in Q4-24. The accounting yield5, excluding capital gains and fair value effect, was 2.9% for 2024. The yield on new investments made year-to-date was 4.1% and fell in Q4-24 in line with the trend in market rates.

    Insurance Finance Expenses (IFE) stood at €42.5m (€40.0m in 2023).

    • Operating income and net income

    Operating income amounted to €409.2m in 2024, up +12.0% at constant FX.

    The effective tax rate was 29% for the year (vs. 27% in 2023), including the impact of Pillar 2 (global minimum tax).

    In total, net income (group share) was €261.1m, up +8.6% compared to 2023.

    3.   Shareholders’ equity

    At 31 December 2024, Group shareholders’ equity stood at €2,193.6m, up €142.8m or +7.0% (€2,050.8m at 31 December 2023).

    These changes are mainly due to the positive net income of €261.1m and the dividend payment of -€194.3m. Other items include changes in unrealised capital gains for €72.0m.

    The annualised return on average tangible equity (RoATE) was 13.9%, up 0.5 ppt mainly due to the improvement in financial income, which more than offset the decrease in underwriting income (decline in net premiums and slight increase in the combined ratio).

    The solvency ratio reached 196%6, representing a decrease of 3 ppts compared to FY-23. It remains well above the upper end of the target range (155%-175%).

    Coface will propose €1.40 dividend per share at the Shareholders’ meeting, corresponding to a payout ratio of 80%7, in line with its capital management policy.

    4.   Outlook

    Once again, the global economy experienced modest growth in 2024 (2.7%), in line with Coface’s forecasts and still driven being by the United States. The electoral calendar, which involved an unprecedented number of countries, delivered generally unsurprising outcomes, with some exceptions.

    For 2025, Coface is forecasting growth identical to that of 2024 at 2.7%. Further downgrades to European growth are likely to be offset by the good performance of the United States, while political risk remains. Donald Trump’s return to power seems to have been welcomed by economic circles so far, raising hopes of deregulation, which is stimulating in the short term but often carries longer-term risks. The announced introduction of tariffs for many countries is also a destabilising factor for global trade.

    Against this backdrop, Coface is anticipating a continued rise in bankruptcies, as businesses are caught between depleted levels of cheap financing and sluggish growth. Coface and its teams will continue to support their clients in this still uncertain environment.

    At the end of 2024, client activity finally posted a slightly positive performance after several quarters of decline. This slight rebound may give hope that the post-Covid decline in client activity has come to an end. In 2025, Coface will continue to implement its Power the Core strategic plan, which aims to develop a leading global ecosystem in credit risk management.

    5.   Governance evolution

    In the Executive Committee:

    • As of February 1st, 2025, Carole Lytton leads the Specialties Businesses, in addition to her role as General Secretary. She takes over from Antonio Marchitelli who decided to leave and take another appointment outside Coface after many years of dedication to the Group.
    • As of February 3rd, Gonzague Noël has been appointed as Group Chief Operating Officer (COO). He takes over Declan Daly, joins the Group executive committee and reports to Xavier Durand, Coface CEO.

    Conference call for financial analysts

    Coface’s results for FY-2024 will be discussed with financial analysts during the conference call on Thursday, 20 February 2025 at 18.00 (Paris time). Dial one of the following numbers:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/Investors/financial-results-and-reports

    Income statements items in €m
    Quarterly figures    		 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24   % %
    ex. FX*
    Insurance revenue 395.3 407.8 384.7 371.3 378.6 375.6 375.9 382.7   +3.1% +3.7%
    Other revenue 79.8 76.8 73.4 79.2 85.0 83.4 78.0 85.5   +8.0% +7.6%
    REVENUE 475.1 484.5 458.1 450.4 463.7 459.1 453.8 468.3   +4.0% +4.3%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 95.3 103.5 91.2 105.4 100.3 94.7 88.8 84.9   (19.5)% (17.9)%
    Investment income, net of management expenses, excluding finance costs (2.6) 4.0 13.0 (2.0) 17.9 22.8 19.0 31.9   (1667)% (1568)%
    Insurance Finance Expenses (2.4) (12.3) (15.4) (9.9) (11.4) (6.7) (7.3) (17.1)   +73.3% +77.9%
    CURRENT OPERATING INCOME 90.4 95.2 88.9 93.5 106.8 110.9 100.5 99.7   +6.7% +7.9%
    Other operating income / expenses (0.3) (0.4) (0.2) (4.0) (0.1) (0.5) (2.6) (5.5)   +38.3% +36.4%
    OPERATING INCOME 90.0 94.8 88.6 89.5 106.8 110.4 97.9 94.2   +5.2% +6.6%
    NET INCOME (GROUP SHARE) 61.2 67.7 60.9 50.8 68.4 73.8 65.4 53.4   +5.1% +4.9%
    Income tax rate 25.5% 21.9% 24.2% 36.0% 27.2% 26.8% 25.5% 36.2%   +0.2 ppt

    Appendices

    Quarterly results

    Cumulated results*

    Income statements items in €m
    Cumulated figures    		 Q1-23 H1-23 9M-23 2023 Q1-24 H1-24 9M-24 2024   % %
    ex. FX*
    Insurance revenue 395.3 803.1 1,187.8 1,559.1 378.6 754.3 1,130.2 1,512.9   (3.0)% (2.2)%
    Other revenue 79.8 156.6 230.0 309.2 85.0 168.5 246.4 331.9   +7.4% +7.4%
    REVENUE 475.1 959.7 1,417.8 1,868.2 463.7 922.7 1,376.6 1,844.8   (1.3)% (0.6)%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE    		 95.3 198.8 290.0 395.4 100.3 195.0 283.8 368.7   (6.8)% (5.3)%
    Investment income, net of management expenses, excluding finance costs (2.6) 1.4 14.5 12.4 17.9 40.8 59.8 91.7   +638.0% +595.7%
    Insurance Finance Expenses (2.4) (14.7) (30.1) (40.0) (11.4) (18.1) (25.4) (42.5)   +6.4% +12.9%
    CURRENT OPERATING INCOME 90.4 185.5 274.4 367.9 106.8 217.7 318.2 417.9   +13.6% +12.8%
    Other operating income / expenses (0.3) (0.7) (0.9) (5.0) (0.1) (0.5) (3.1) (8.6)   +74.5% +74.2%
    OPERATING INCOME 90.0 184.8 273.4 362.9 106.8 217.2 315.1 409.2   +12.8% +12.0%
    NET INCOME (GROUP SHARE) 61.2 128.8 189.7 240.5 68.4 142.3 207.7 261.1   +8.6% +6.3%
    Income tax rate 25.5% 23.7% 23.8% 26.8% 27.2% 27.0% 26.5% 28.7%   +1.9 ppt  

    * Also excludes scope impact

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)

    Q1-2025 results: 5 May 2025 (after market close)
    Annual General Shareholders’ Meeting: 14 May 2025
    H1-2025 results: 31 July 2025 (after market close)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2023 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2023 Universal Registration Document filed with AMF on 5 April 2024 under the number D.24-0242 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    1RoATE = Return on average tangible equity
    2This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    3The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.
    4 Also excludes scope impact
    5 Book yield calculated on the average of the investment portfolio excluding non-consolidated subsidiaries.
    6 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    7 The distribution proposal will be submitted to the Shareholders’ Meeting to be held on 14 May 2025.

    Attachment

    The MIL Network –

  • MIL-OSI USA: America Is Back — and President Trump Is Just Getting Started

    US Senate News:

    Source: The White House
    President Donald J. Trump took office just one month ago, but has already accomplished more than most presidents do in their entire term as he makes good on his promise to usher in the New Golden Age of America.
    Here is a non-comprehensive list of President Trump’s wins after just one month:
    SECURING OUR HOMELAND:
    President Trump declared a national emergency at the border and deployed the military, including the 10th Mountain Division, to secure our nation.
    Illegal border crossings have hit lows not seen in decades as U.S. Border Patrol is re-empowered to once again enforce the law.
    ABC News: “From Jan. 21 through Jan. 31, the number of U.S. Border Patrol apprehensions along the southwest border dropped 85% from the same period in 2024, according to data obtained by ABC News. In the 11 days after Jan. 20, migrants apprehended at ports of entry declined by 93%.”

    Illegal aliens have started turning around in droves amid the crackdown.
    The Department of Homeland Security announced that arrests of criminal illegal immigrants have doubled under President Trump.
    President Trump signed the Laken Riley Act into law, which requires illegal immigrants arrested or charged with theft or violence to be detained — honoring the legacy of Laken Riley, a Georgia college student brutally murdered by an illegal alien released into the country.
    President Trump ended “catch-and-release,” reversing the dangerous Biden-era policy that released dangerous illegal aliens back into our communities.
    President Trump shut down the “CBP One” app, which “paroled” more than one million illegal immigrants into the country.
    A migrant shelter in San Diego announced it will shut down after it has received no new arrivals since President Trump took office.

    President Trump terminated all taxpayer-funded public benefits for illegal aliens.
    President Trump ramped up deportation flights of criminal illegal aliens.
    After President Trump announced “urgent and decisive retaliatory measures” against Colombia over its refusal to accept deportation flights from the U.S., the country’s president quickly backtracked — even offering the use of his personal plane for the deportations.
    El Salvadorian President Nayib Bukele offered to accept deportees of any nationality, including violent American criminals currently imprisoned in the U.S.

    President Trump began transferring criminal illegal aliens to Guantanamo Bay ahead of their repatriation back to their own countries.
    President Trump re-established the successful “Remain in Mexico” policy.
    President Trump restarted construction of the border wall.
    The Trump Administration officially declared Tren de Aragua, MS-13, the Sinaloa Cartel, the Jalisco New Generation Cartel, the United Cartels, the Gulf Cartel, the Northeast Cartel, and the Michoacán Family as Foreign Terrorist Organizations.
    New York City Mayor Eric Adams (D) agreed to allow federal immigration officials to operate on Rikers Island and deport illegal alien criminals following his meeting with Border Czar Tom Homan.
    Mexico announced a deployment of 10,000 troops to the border to combat illegal immigration and fentanyl trafficking, while Canada announced a flurry of measures to combat fentanyl manufacturing and trafficking following President Trump’s imposition of tariffs on the two countries.
    President Trump implemented an additional 10% tariff on imports from China in order to stem the flow of illegal aliens and fentanyl.
    President Trump ordered an end to birthright citizenship.
    President Trump suspended the U.S. Refugee Admissions Program.
    The Department of Justice filed suit against the State of New York and some of its elected officials over their willful failure to follow federal immigration law and announced that it will take action against so-called “sanctuary cities” for their obstruction of U.S. law.
    The Department of Homeland Security “clawed back” tens of millions of dollars in funds paid by rogue FEMA officials to house illegal aliens in luxury New York City hotels.
    President Trump reinstated the death penalty for federal capital crimes.
    PROTECTING AMERICAN WORKERS AND FOSTERING ECONOMIC GROWTH:
    President Trump restored a 25% tariff on steel imports and elevated the tariff to 25% on aluminum imports to protect these critical American industries from unfair foreign competition — a move praised by the Steel Manufacturers Association, the Aluminum Association, and businesses across the country.
    Robert Simon, CEO of JSW Steel USA, praised President Trump’s steel and aluminum tariffs, celebrating them “as a project that will flood the U.S. with jobs as trading partners move their industries to U.S. soil to avoid tariffs.”

    Makoto Uchida, the CEO of global automaker Nissan, said President Trump’s tariffs could push the car manufacturer to move its production from Mexico to the U.S.
    President Trump unveiled a plan for fair and reciprocal trade, making clear to the world that the United States will no longer tolerate being ripped off.
    President Trump secured hundreds of billions of dollars in new investments.
    President Trump announced the largest artificial intelligence infrastructure project in history, securing $500 billion in planned private sector investment — with major CEOs agreeing it would not have been possible without President Trump’s leadership.
    Saudi Arabia declared its intention to invest $600 billion in the United States over the next four years.
    President Trump secured a $20 billion investment by DAMAC Properties to build new U.S.-based data centers.
    Taiwan pledged to boost its investment in the United States.
    Electronics giants Samsung and LG “are considering moving their plants in Mexico to the U.S.” now that President Trump is back in office.

    In February, forecasters from the Federal Reserve Bank of Philadelphia revised their economic growth projections for the first quarter of 2025 up from 1.9% to 2.5%, and their unemployment rate projections for the quarter down from 4.2% to 4.1%.
    After a meeting with President Trump, Stellantis announced it will reopen its assembly plant in Belvidere, Illinois — putting 1,500 employees back to work — and build its next-generation Dodge Durango in Detroit, Michigan. The company also announced new investments in their Toledo, Ohio, and Kokomo, Indiana, facilities.
    President Trump laid out a visionary plan to establish a Sovereign Wealth Fund to maximize the stewardship of the $5+ trillion in assets held by the United States.
    Following President Trump’s victory, the S&P 500 set a new record as the stock market surged to record highs — while major Wall Street firms like JP Morgan Chase posted their highest ever annual profits.
    LOWERING THE COST OF LIVING:
    President Trump directed the heads of all executive departments and agencies to “deliver emergency price relief … to the American people and increase the prosperity of the American worker.”
    President Trump established the National Energy Dominance Council to maximize use of the U.S.’ extensive energy resources, thereby enabling lower energy prices.
    Crude oil prices have fallen over 5% since President Trump took office.
    The Department of Energy postponed burdensome Biden-era efficiency standard rules for the following appliances, saving American consumers large sums:
    Central air conditioners: Biden rules were slated to make air conditioners $1,100 more expensive, according to Alliance for Consumers.
    Gas water heaters: Biden rules were slated to make water heaters $2,800 more expensive.
    Clothes washers and dryers: Biden rules were slated to make washers $200 more expensive.
    Light bulbs: Biden rules were slated to make light bulbs $140 more expensive.
    Walk-in coolers and freezers, commercial refrigeration equipment, and air compressors.

    The total cost of federal regulations in 2023 was a record-breaking $2.1 trillion, or $15,788 per U.S. household, according to the Competitive Enterprise Institute. By requiring agencies to identify at least ten existing rules, regulations, or guidance documents to be repealed for every one rule they promulgate, President Trump has put the U.S. on track to severely reduce regulatory costs for everyday Americans.
    The National Associations of Manufacturers found the cost of federal regulations was even greater — at $3.079 trillion in 2022.

    Secretary Sean Duffy’s very first action at the Department of Transportation was to initiate rulemaking resetting Corporate Average Fuel Economy (CAFE) standards — effectively eliminating the Biden-era electric vehicle mandate.
    NBER economist Mark R. Jacobsen “estimates that a one-mpg increase in CAFE standards costs consumers of all income levels approximately 0.5% of their income in the first year of the increase. By the 10th year following the increase, however, this cost becomes regressive, as the increase drives up the price of used cars. A one-mpg increase in CAFE standards costs consumers earning less than $25,000 per year 1.12% of their income, but only costs consumers earning more than $75,000 per year 0.41% of their income.”

    RE-ESTABLISHING AMERICAN STRENGTH:
    President Trump secured the release of six American hostages in Venezuela, two Americans in Afghanistan, an American-Israeli citizen in Hamas captivity, a Pennsylvania teacher in Russian captivity, and an American citizen in Belarus — bringing the total number of American hostages released under President Trump to 11.
    President Trump spoke with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy in pursuit of finally securing peace as negotiations get underway.
    President Trump restored maximum pressure on Iran, “sanctioning an international network for facilitating the shipment of millions of barrels of Iranian crude oil worth hundreds of millions of dollars to the People’s Republic of China.”
    President Trump redesignated the Iran-backed Houthis as a Foreign Terrorist Organization.
    President Trump hosted Israeli Prime Minister Benjamin Netanyahu for a visit where he proposed a bold vision for securing lasting peace in Gaza.
    Former U.S. Ambassador to Israel David Friedman described the proposal as “brilliant, historic and the only idea I have heard in 50 years that has a chance of bringing security, peace and prosperity to this troubled region.”

    President Trump hosted Japanese Prime Minister Shigeru Ishiba, who announced his intention to “elevate Japan’s investment in the United States to an unprecedented amount of $1 trillion,” import “historic” quantities of LNG from Alaska, and open new auto plants in the U.S.
    President Trump hosted Jordan’s King Abdullah II, who announced that the Kingdom will accept 2,000 sick children from Gaza “as quickly as possible.”
    President Trump hosted Indian Prime Minister Narendra Modi for a visit where they announced new deals between the two countries on immigration, trade, energy, and artificial intelligence.
    President Trump banned funding to UNRWA — a United Nations agency that employed hundreds of Hamas and jihad operatives.
    President Trump imposed sanctions on the International Criminal Court, which has illegitimately asserted jurisdiction over internal U.S. matters and baselessly targeted Israeli Prime Minister Benjamin Netanyahu.
    President Trump reinstated the Mexico City Policy to ensure no taxpayer dollars support foreign organizations that perform, or actively promote, abortion in other nations.
    The Department of State ordered embassies worldwide to only fly the American flag — not activist flags.
    President Trump declared all foreign policy must be conducted under the President’s direction, ensuring career diplomats reflect the foreign policy of the United States at all times.
    The Department of State declared that U.S. foreign policy will be America First going forward.
    Following a visit from Secretary of State Marco Rubio, Panamanian President José Raúl Mulino agreed to withdraw from China’s Belt and Road Initiative, a debt-trap diplomacy scheme the Chinese Communist Party uses to gain influence over developing nations.
    The U.S. rejoined the Geneva Consensus Declaration, which promotes and strengthens opportunities for women and girls around the world, and protects the family as the fundamental unit of society.
    President Trump cracked down on anti-Semitism by canceling visas for foreign students who are Hamas sympathizers.
    President Trump ordered the immediate dismissal of the Board of Visitors for the Army, Air Force, Navy, and Coast Guard following years of woke ideologies infiltrating U.S. service academies.
    The U.S. Army barred transgender people from enlisting and stopped using taxpayer funds for sex change surgeries.
    President Trump reinstated, with backpay, U.S. service members who were discharged under the military’s nonsensical COVID-19 vaccine mandate.
    Secretary of Defense Pete Hegseth restored Fort Liberty, North Carolina, to “Fort Bragg,” in honor of a World War II hero.
    President Trump withdrew the U.S. from the World Health Organization.
    President Trump paused enforcement of the overregulation of American businesses abroad, which negatively impacted national security.
    President Trump proclaimed “Gulf of America Day” after the Department of the Interior officially established it on its mapping databases.
    President Trump initiated a process to build a next-generation missile defense shield over the United States.
    UNLEASHING AMERICAN ENERGY:
    President Trump declared a National Energy Emergency to unlock America’s full energy potential and bring down costs for American families.
    President Trump rescinded every one of the Biden Administration’s job-killing, pro-China, anti-American energy regulations.
    President Trump empowered Americans with choice in vehicles, showerheads, toilets, washing machines, light bulbs, and dishwashers, and killed Biden-era regulations that restricted water flow and mandated inadequate light bulb standards.
    President Trump terminated the job-killing Green New Scam.
    President Trump withdrew from the disastrous Paris Climate Agreement, which unfairly ripped off our country.
    President Trump paused federal permitting for massive wind farms, which degrade our natural landscapes and fail to serve American consumers.
    President Trump reversed bureaucratic regulations that impeded Alaska’s ability to develop its vast natural resources.
    President Trump re-opened 625 million acres for offshore drilling, which Biden banned in his waning days, in order to “drill, baby, drill.”
    President Trump scrapped an Obama-era rule on greenhouse gases.
    President Trump ended the Liquefied Natural Gas pause and approved the first LNG project since the Biden Administration banned them last year.
    BRINGING BACK COMMON SENSE:
    Health systems across the nation stopped or downsized their sex change programs for minors following President Trump’s “Protecting Children from Chemical and Surgical Mutilation” executive order.
    In Illinois, Chicago’s Lurie Children’s Hospital paused sex-change surgeries for patients under 19 as it “work[s] to understand the rapidly evolving environment.”
    In Colorado, Denver Health announced it would stop performing sex change surgeries on minor children, while UCHealth said it was ending so-called “gender-affirming care” for all minors.
    In Washington, D.C., Children’s National Hospital “paused” prescribing puberty blockers and hormone therapies for minors, while Northwest Washington Hospital did the same.
    In Virginia, VCU Health and Children’s Hospital of Richmond “suspended” providing transgender-related medication and surgeries for minors, while UVA Health also “suspended” transgender-related services for minors.

    President Trump ended the unfair, demeaning practice of forcing women to compete against men in sports — which resulted in the NCAA changing its rules.
    The Department of Education launched investigations into the California Interscholastic Federation and the Minnesota State High School League over their failures to comply.

    President Trump made it the official policy of the U.S. government that there are only two sexes.
    President Trump banned COVID-19 vaccine mandates at schools that receive federal funding.
    President Trump rolled back the Biden-era push to mandate paper straws.
    President Trump instructed the Secretary of the Treasury to stop production of the penny, which cost 3.69 cents each to make.
    President Trump directed full enforcement of the Hyde Amendment, which bars taxpayer dollars from being used to fund or promote elective abortion.
    The Department of Transportation terminated the approval for New York City’s burdensome “congestion pricing” scheme.
    RESTORING ACCOUNTABILITY AND TRANSPARENCY IN GOVERNMENT
    President Trump established the Department of Government Efficiency (DOGE) to maximize government productivity and ensure the best use of taxpayer funds — which has already achieved billions of dollars in savings for taxpayers.
    President Trump commenced his plan to downsize the federal bureaucracy and eliminate waste, bloat, and insularity.
    President Trump ordered federal workers to return to the office five days a week.
    President Trump ordered federal agencies hire no more than one employee for every four employees who leave.
    President Trump ended the wasteful Federal Executive Institute, which had become a training ground for bureaucrats.
    President Trump ordered the termination of all federal Fake News media contracts.

    President Trump ordered the Consumer Financial Protection Bureau — the brainchild of Elizabeth Warren, which funneled cash to left-wing advocacy groups — to halt operations.
    President Trump ordered an end to anti-Christian bias in the Federal Government.
    President Trump ordered an examination of all regulations to assess any infringements on Americans’ Second Amendment rights.
    The Environmental Protection Agency canceled tens of millions of dollars in contracts to left-wing advocacy groups, announced an investigation into a scheme by Biden EPA staffers to shield billions of dollars from oversight and accountability, and put 168 “environmental justice” employees on leave.
    President Trump stopped the waste, fraud, and abuse within USAID — ensuring taxpayers are no longer on the hook for funding the pet projects of entrenched bureaucrats, such as sex changes in Guatemala.
    President Trump ordered an end to the weaponization of the Federal Government against American citizens.
    The Department of Justice immediately began rooting out politically motivated lawfare that occurred in the Biden Administration.

    President Trump reversed the massive over-expansion of the IRS that took place during the Biden Administration.
    President Trump eliminated discriminatory DEI offices, employees, and practices across the bureaucracy alongside a return to merit-based hiring — including at the Federal Aviation Administration, where the Biden Administration specifically recruited individuals with intellectual disabilities and psychiatric issues.
    As a result, taxpayer-funded PBS closed its DEI office, Disney dropped two of its DEI programs, Goldman Sachs ended its DEI policy, and Institutional Shareholder Services announced it would no longer consider diversity of company boards when making its voting recommendations.
    The Federal Communications Commission opened an investigation into discriminatory DEI policies at Comcast, an entity it regulates.

    President Trump ordered an end to all censorship of Americans by the federal government.
    President Trump ordered a review of funding for all non-governmental organizations, so taxpayers are no longer funding those that undermine America’s interests.
    The Department of State issued a “pause” on existing foreign aid grants to ensure accountability and efficiency.

    President Trump lifted last-minute collective bargaining agreements issued by the Biden Administration, which sought to impede reform.
    President Trump overrode bureaucratic red tape that limited water availability in California following the failure of the state’s water system during the devastating wildfires.
    President Trump terminated the Biden-era electric vehicle mandate.
    President Trump suspended the Biden-era EV charging program, which had resulted in just eight charging stations despite $7.5 billion earmarked for the program.

    President Trump shut down the wasteful Biden-era “Climate Corps” program.
    The Federal Communications Commission took action against a Soros-backed radio station that leaked sensitive information about ICE operations.
    President Trump ordered the declassification of documents related to the assassinations of President John F. Kennedy, Jr., Robert F. Kennedy, and Rev. Dr. Martin Luther King, Jr.
    President Trump opened the White House Press Briefing Room to non-legacy media outlets as the White House sets a new standard for transparency in the digital age.
    President Trump reinstated press privileges for roughly 440 journalists who the Biden Administration sought to silence.
    President Trump fired members of The Kennedy Center’s Board of Trustees amid their obsession with perpetuating radical, left-wing ideology at taxpayer expense.
    President Trump revoked the security clearances of the 51 “spies who lied.”
    EMPOWERING THE AMERICAN PEOPLE
    President Trump established the Make America Healthy Again Commission, which redirects the national focus to promoting health rather than simply managing disease.
    President Trump took executive action to expand access to in vitro fertilization (IVF).
    President Trump established the White House Faith Office to protect Americans’ religious liberty.
    President Trump ordered an end to the radical indoctrination of children in K-12 schools that receive federal funding.
    President Trump took executive action to support parents in choosing the best education for their children.
    President Trump established the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance.
    President Trump granted full and unconditional pardons to 23 pro-life Americans who were unjustly persecuted by the Biden Administration.
    President Trump pardoned two Washington, D.C., police officers who were imprisoned simply for doing their jobs of apprehending criminals.
    President Trump has had his cabinet confirmed by the Senate at a far faster pace than his predecessors, with a majority of his cabinet earning confirmation in his first month.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Manchester Digital Campus gets green light

    Source: United Kingdom – Executive Government & Departments

    A major government office complex has been given planning consent to be built in Manchester.

    A major government office complex has been given planning consent to be built in Manchester.

    Manchester Digital Campus will be a state-of-the-art hub constructed on the former Central Retail Park in Ancoats after the city’s planning committee approved the Government Property Agency’s (GPA) scheme at a meeting today (Thursday 20 February 2025).

    The campus will bring together a number of Civil Service departments with a focus around digital skills and create significant employment opportunities and economic benefits in the region.

    Mark Bourgeois, CEO at the GPA, said:

    We are delighted with the decision and are grateful for the support of the many stakeholders in Manchester. The GPA team is proud to be working on this exciting project in support of the Government’s growth mission.

    The GPA exchanged contracts to acquire five-and-a-half acres of the former Central Retail Park in Ancoats from the city council in May last year with a view to constructing a state-of-the-art digital campus.

    Both the agency and Manchester City Council have been working together on the plans for Ancoats, culminating in a parallel proposal for the digital campus and an adjacent public park.

    The council and the GPA held a joint consultation around emerging plans for the former retail site in August and September last year, inviting local residents, businesses and other stakeholders to help guide proposals to create the new government digital campus – delivered by the GPA – and a new city centre park space, delivered by the council.

    Mark added:

    We are pleased to be working with Manchester City Council on these regeneration  plans, and look forward to creating fantastic and sustainable workplaces to support the transformation of the Civil Service.

    This proposed development, builds on the work MCC and the GPA undertook last year in putting in place an updated Strategic Regeneration Framework, and the shared ambition to regenerate the Ancoats former retail site, creating employment and wider business opportunities, supported by the digital campus.

    New city centre park  

    Alongside the new campus, the new park will improve access to quality green space in Manchester city centre, creating a connection to the existing Cotton Field Park behind and through to Ancoats and New Islington.  

    The park space has been designed in collaboration with landscape architects Planit-IE following public consultation.  

    A central lawn and plaza will create a green buffer to Great Ancoats Street, with various tiered gardens navigating the different level changes across the site, alongside play areas, paths and tranquil areas to escape the noise of the city. The park has been designed to make sure that it is fully accessible. 

    The site will accommodate new walking and cycling routes, helping to link to other city centre active travel investment in Ancoats, Northern Quarter and out towards the Etihad Campus.

    To note – development across the rest of the site will be brought forward as a later development phase. More information will be made available in due course.

    Leader of the Council, Bev Craig said: 

    Gaining planning approval for both the GPA’s digital campus and the latest city centre park is the launchpad for the transformation of this site.  

    Our ambition has long been to bring the former retail park back into active use and working in partnership with the GPA we are delivering a quality, low carbon development that will bring 7,000 civil service jobs to Manchester in the coming years. 

    The new digital campus plays to Manchester’s strengths. We have fostered one of the fastest growing tech and digital communities in the UK, with a growing international reputation. The transformation of this brownfield site supports our ongoing growth in the sector, which translates into quality employment and development opportunities for our residents.  

    We stand ready to work with this Government to bring forward other ambitious investments in Manchester that can continue our path of sustainable economic growth, supporting our residents to thrive. 

    At the same time, the new park is a welcome addition to our city centre green spaces and a reimagining of the former retail site that has for many years acted only as a barrier to the community behind – and an eyesore in one of the most exciting parts of our city.

    For more information contact comms@gpa.gov.uk

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The Global Geopolitical Situation: Foreign Secretary speech at G20 South Africa

    Source: United Kingdom – Executive Government & Departments

    Foreign Secretary David Lammy’s intervention on Discussions on the Global Geopolitical Situation at the G20 Foreign Ministerial Meeting, South Africa

    Thank you very much, Ronald (Ronald Lamola, Minister of International Relations and Cooperation of South Africa) and let me say, my dear brother, what a joy is to see the G20 in Africa at long last. And we thank Brazil for its stewardship last year.

    The challenges that we face are truly global.

    We will not begin to tackle them unless we harness the potential of this continent, bursting with growth and opportunities and with so many young people, talented young people at its heart.

    The starkest challenge we face is escalating conflict, both between and within nations, driving vicious cycles of grievance, displacement and low growth.

    Your presidency, Ronald calls for solidarity, and solidarity starts by recognizing and naming the victims of war and injustice.

    Innocent Ukrainians enduring bombardment night after night from Odessa to Zaphorizhya, the hostages still cruelly held underground by Hamas, 16 months old on from the trauma of October the 7th, and the Palestinian civilians driven from their homes in Gaza and the West Bank, the Sudanese refugees flee their burning villages to escape across the border to Chad, the overwhelming majority of them, women and children having endured the most unimaginable and indiscriminate violence.

    As I said when I visited Chad, there can be no geopolitical stability, whilst there remains a hierarchy of conflicts, with those on this continent finding themselves at the bottom of the global pile.

    And that’s why, since starting this job, I’ve made a reset with the so called Global South, a central plank of the UK Foreign Policy, and it’s why I doubled British aid for Sudan, and I prepared a conference in London to push for a political process which will end the fighting and protect civilians.

    And that’s why I’ve called out the Rwandan Defence Force operations in the eastern DRC as a blatant breach of the UN Charter which risks spiralling into a regional conflict, and that’s why I will again make clear to President Kagame, that further breaches of DRC’s sovereignty will have consequences.

    Because at the heart of my government’s approach to foreign policy lies the belief that regional and geopolitical stability can only be delivered through respect for international law and the principles of the UN Charter.

    And as my Canadian, Australian, Japanese colleagues have said, respect for international law must underwrite a free and open Indo Pacific, just as it must underwrite the Euro Atlantic, with the security of those two regions ever more closely linked.

    And as we turn to the Middle East, the ceasefire in Gaza is painfully fragile, I’m grateful that so many of us here today are working together to ensure that it holds we must continue to work together tirelessly to secure the release of the remaining hostages, to bolster the Palestinian Authority, and to boost aid into Gaza and to develop a long term plan for governance and security on the strip so that we can advance towards, a two state solution. Which remains the only long term viable pathway to peace.

    And finally, in Ukraine, the only just and lasting peace will be a peace that is consistent with the UN Charter, and we want that as soon as possible.

    You know, mature countries learn from their colonial failures and their wars, and Europeans have had much to learn over the generations and the centuries.

    But I’m afraid to say that Russia has learned nothing.

    I listened carefully to Minister Lavrov intervention just now he’s, of course, left his seat, hoping to hear some readiness to respect Ukraine’s sovereignty.

    I was hoping to hear some sympathy for the innocent victims of the aggression.

    I was hoping to hear some readiness to seek a durable peace.

    What I heard was the logic of imperialism dressed up as a realpolitik, and I say to you all, we should not be surprised, but neither should we be fooled.

    We are at a crucial juncture in this conflict, and Russia faces a test.

    If Putin is serious about a lasting peace, it means finding a way forward which respects Ukraine’s sovereignty and the UN Charter which provides credible security guarantees, and which rejects Tsarist imperialism, and Britain is ready to listen.

    But we expect to hear more than the Russian gentleman’s tired fabrications.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Nick Park CBE, unveils statue of Feathers McGraw at Animate, Preston

    Source: City of Preston

    Nick Park CBE, four-time Academy Award®-winner and Preston-born creator of Wallace & Gromit, has officially opened the city’s £45m+ Animate entertainment and leisure destination.

    The Honorary Freeman of Preston and multi award-winning filmmaker, unveiled a four-foot-high bronze statue of Feathers McGraw, the villainous penguin character in the Wallace & Gromit animated films, to mark the opening, close by to the existing famous Wallace & Gromit bench at Preston Markets.

    Joining Nick at the unveiling were the Mayor of Preston Councillor Philip Crowe, Chris Butler and Chris Jones, owners and directors of Castle Fine Arts Foundry, which created the statue, and Merlin Crossingham, Bafta@ award-winning creative co-director of Wallace and Gromit at Aardman Animations.

    Nick and Merlin are executive directors and creative directors, respectively, at Bristol-based independent studio Aardman, makers of the Wallace & Gromit films and other beloved brands, including Shaun the Sheep, Creature Comforts, Chicken Run, and Morph.

    Nick Park CBE said:

    “As a proud Prestonian, I couldn’t be more ‘egg-cited’ to see our infamous Feathers McGraw joining Wallace and Gromit in my hometown.

    “I’m not sure how happy Wallace and Gromit will be, though, to have their arch nemesis clutching the limelight.”

    Councillor Matthew Brown, Leader at Preston City Council said:

    “To have Nick Park officially opening our flagship regeneration scheme, Animate, is a genuine honour and landmark moment for the Council and the city. In addition, the new Feathers McGraw statue is a fantastic complement to the Wallace and Gromit bench, which has drawn so many visitors to Preston – its popularity has blown us away.

    “Today heralds a new era for Preston, providing an unrivalled multi-tenanted entertainment and leisure complex for residents and visitors from the wider regionin the ownership of our city.”

    Chris Jones, Director at Castle Fine Arts Foundry added:

    “It was such an honour for us all at the Foundry to be given the opportunity to depict the deliciously malign Feathers McGraw in bronze, having enjoyed creating Wallace & Gromit a couple of years ago.

    “We had felt Feathers ‘wee beady eyes’ upon us in the workshop for a good few months since we completed him, so it was both a relief and a joy to put him where he truly belongs, alongside his arch nemeses in Preston.”

    Animate features The Arc Cinema with eight screens, 16-lane Hollywood Bowl bowling alley with gaming zone, public realm, a socialising unit and 164-space basement car park, alongside leading family restaurant brands Ask Italian, Cosmo, Taco Bell, Argento Lounge and a variety of street food outlets and a cocktail bar in Mad Giant Food Hall, run by Northern Lights Group.

    The scheme was delivered by Maple Grove Developments (MGD), part of Preston-based contractor Eric Wright Group, on behalf of Preston City Council. Commercial property agents Sanderson Weatherall are the estate managers.

    Built on the former indoor market and car park site, Animate is fully owned by Preston City Council and is one of six major projects in Preston’s Harris Quarter Towns Fund Investment Programme, a £200m programme including £20.9m of funding by UK Government to support several regeneration projects.

    The leisure scheme supports the Council’s commitment to Community Wealth Building – a fair, inclusive and ethical approach to fostering sustainable economic development and prosperity for all in Preston – via measures including using locally based businesses and the creation of approximately 300 full and part-time jobs when fully open and 105 apprenticeship weeks worked throughout the construction period to date.

    Opening dates at Animate

    • Argento Lounge – Open
    • Taco Bell – Open
    • The Arc Cinema – Open
    • Hollywood Bowl – opening March
    • Ask Italian – opening early April 
    • Mad Giant Food Hall – coming soon  
    • Cosmo – coming soon

    Visit Animate Preston for more information

    Harris Quarter Towns Fund Investment Programme

    Projects included in Preston’s £200 million Harris Quarter Towns Fund Investment Programme are:

    • Animate – £45m multi-use entertainment and leisure complex anchored by a state-of-the-art cinema and bowling venue next to Preston Markets
    • Educate Preston: The creation of a new Careers and Employment, Information, Advice and Guidance Hub in the Harris Quarter.
    • Renewal of Harris Quarter Assets: Investment to support the redevelopment of publicly-owned buildings in the Harris Quarter to support new cultural and community uses, including Amounderness House.
    • Illuminate and Integrate: A project to deliver improved pedestrian and cycleway infrastructure, street lighting and other public realm improvements within the Harris Quarter.
    • Preston Youth Zone:The development of Preston Youth Zone as a state-of-the-art facility for young people in Preston aged eight to 19.
    • #HarrisYourPlace:The refurbishment of the Grade I listed Harris Museum, Art Gallery & Library, enhancing and protecting the building for future generations.
    • Preston Pop Ups: £1m pop-up programme of events bringing together new temporary event space, artworks and improvements to public realm infrastructure, aimed at boosting visitor activity in the Harris Quarter.

    For more information, visit Invest Preston.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council commemorates tenth anniversary of Care Day with tree planting ceremony

    Source: Northern Ireland City of Armagh

    To mark the tenth anniversary of Care Day, Armagh City, Banbridge and Craigavon Borough Council held a special tree planting ceremony at the Palace Demesne, Armagh recently. Pictured at the event was Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Sarah Duffy, Geraldine McGuigan and young people from VOYPIC, with Councillors Jessica Johnston and Peter Lavery.

    In a heartfelt commitment to the wellbeing of local young people in care, Armagh City, Banbridge and Craigavon Borough (ABC) Council held a special tree planting ceremony to celebrate the tenth anniversary of Care Day.

    The event, which took place on Wednesday 12 February at the Palace Demesne in Armagh saw representatives from Voice of Young People in Care (VOYPIC), elected representatives and council staff come together to mark this special occasion and honour those with lived care experience.

    Symbolising growth, strength and hope for the care-experienced youth, this tree is a living tribute that will serve as a reminder of ABC Council’s commitment to nurturing a brighter future for all young people in our community.

    Speaking at the event, Lord Mayor of Armagh City, Banbridge and Craigavon, Councillor Sarah Duffy said:

    “We are thrilled to celebrate the tenth anniversary of Care Day by taking meaningful action to support our young people in care. This tree is not only a symbol of our commitment to the care community but also represents the resilience and potential of the young individuals who inspire us each day.”

    This tree planting ceremony to mark the tenth anniversary of Care Day was proposed by Councillor Jessica Johnston (Alliance Party NI).

    Care Day, which takes place on Friday 21 February 2025, is a day dedicated to raising awareness and celebrating the lives of children and young people in care. The initiative emphasises the importance of community support, inclusion, and resilience for those who have navigated the challenges of the care system.

    Care Day in the UK and Ireland is a joint initiative across five children’s rights charities and is led in Northern Ireland by Voice of Young People in Care.

    To learn more about Care Day 2025, click here.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Manchester Digital Campus and latest city centre park gets planning green light

    Source: City of Manchester

    A major government office complex bringing 7,000 civil service jobs to Manchester alongside a new urban park have been given planning consent to be built in Ancoats.

    A major government office complex bringing 7,000 civil service jobs to Manchester alongside a new urban park have been given planning consent to be built in Ancoats.

    Manchester Digital Campus

    The campus will be a state-of-the-art hub constructed on the former Central Retail Park in Ancoats after the city’s planning committee approved the Government Property Agency’s (GPA) scheme at Manchester City Council planning committee today (Thursday 20 February)

    The campus will bring together a number of Civil Service departments with a focus around digital skills and create significant employment opportunities and economic benefits in the region.

    The state-of-the-art campus will bolster Manchester’s digital and tech sector, driving economic growth and new employment opportunities for the city.  

    New City Centre Park

    Alongside the new campus, the new park will improve access to quality green space in Manchester city centre, creating a connection to the existing Cotton Field Park behind and through to Ancoats and New Islington.

    The park space has been designed in collaboration with landscape architects Planit-IE following public consultation.

    A central lawn and plaza will create a green buffer to Great Ancoats Street, with various tiered gardens navigating the different level changes across the site, alongside play areas, paths and tranquil areas to escape the noise of the city. The park has been designed to make sure that it is fully accessible.

    The site will accommodate new walking and cycling routes, helping to link to other city centre active travel investment in Ancoats, Northern Quarter and out towards the Etihad Campus.

    Mark Bourgeois, CEO at the GPA, said:

    “We are delighted with the decision and are grateful for the support of the many stakeholders in Manchester. The GPA team is proud to be working on this exciting project in support of the Government’s growth mission.”

    The GPA exchanged contracts to acquire five-and-a-half acres of the former Central Retail Park in Ancoats from the city council in May last year with a view to constructing a state-of-the-art digital campus.

    Both the agency and Manchester City Council have been working together on the plans for Ancoats, culminating in a parallel proposal for the digital campus and an adjacent public park.

    The council and the GPA held a joint consultation around emerging plans for the former retail site in August and September last year, inviting local residents, businesses and other stakeholders to help guide proposals to create the new government digital campus – delivered by the GPA – and a new city centre park space, delivered by the council.

    Mark added:

    “We are pleased to be working with Manchester City Council on these regeneration plans, and look forward to creating fantastic and sustainable workplaces to support the transformation of the Civil Service.

    “This proposed development, builds on the work MCC and the GPA undertook last year in putting in place an updated Strategic Regeneration Framework, and the shared ambition to regenerate the Ancoats former retail site, creating employment and wider business opportunities, supported by the digital campus.”

    Leader of the Council Bev Craig said:

    “Gaining planning approval for both the GPA’s digital campus and the latest city centre park is the launchpad for the transformation of this site.  

    “Our ambition has long been to bring the former retail park back into active use and working in partnership with the GPA we are delivering a quality, low carbon development that will bring 7,000 civil service jobs to Manchester in the coming years. 

    “The new digital campus plays to Manchester’s strengths. We have fostered one of the fastest growing tech and digital communities in the UK, with a growing international reputation. The transformation of this brownfield site supports our ongoing growth in the sector, which translates into quality employment and development opportunities for our residents.  

    “We stand ready to work with this Government to bring forward other ambitious investments in Manchester that can continue our path of sustainable economic growth, supporting our residents to thrive. 

    “At the same time, the new park is a welcome addition to our city centre green spaces and a reimagining of the former retail site that has for many years acted only as a barrier to the community behind – and an eyesore in one of the most exciting parts of our city.”  

    Find out more about the redevelopment of the former retail site. 

    Read the planning applications here

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council seeks community solution to vacant buildings

    Source: City of Liverpool

    The future of six vacant properties, including a Victorian chapel, is set to be decided at a meeting of Liverpool City Council’s Cabinet next week.

    A report is recommending that the half-dozen Council-owned premises be handed over to charities and community groups operating in the city.

    If agreed, the empty properties will be the latest to be added to Liverpool’s Community Asset Transfer (CAT) programme.

    It means that, subject to an approved, fully-costed business plan, qualifying groups will be able to take control of the buildings to deliver a range of community-based projects.

    The recommended premises for phase two of the CAT programme are:

    • Anfield Cemetery Chapel
    • Garston Urban Village Hall
    • Knotty Ash Community Centre
    • Joseph Gibbons Day Centre, Sefton Park
    • St Brendan’s Church/Shrine, Old Swan
    • Former Lodge Lane Library

    Liverpool’s CAT programme was launched in 2022 and introduced the idea of exchanging ‘social value’ for monetary value which can be used to offset the cost of Council-owned assets.

    Voluntary and community organisations, social enterprises and other not-for-profits can apply to take on ownership of any of the properties under the programme on either a long-term or short-term basis.

    The group’s business plan will then be evaluated to ensure that they offer significant social, community or environmental benefits to Liverpool residents. If the plans qualify, the Council will transfer ownership of the premises for less than its market value.

    Not only will the successful groups then by able to use the premises as a hub to work from, but they can also use the commercial market value of the land to support any bids for funding or loans.

    Phase one of the CAT programme offered a number of premises to interested groups, including land on Mulgrave Street, Rosebery Street, Adlam Park Sports Pavilion, and Speke Adventure Playground Centre. Talks are currently taking place between the Council and community-based organisations to secure new uses for the sites.

    All premises have been chosen to ensure that there is a variety of land and properties up for consideration across the North and South of the city.

    • Subject to Cabinet approval, the Council will seek to advertise CAT Phase Two properties in April on the council website.

    Councillor Nick Small, Liverpool City Council’s Cabinet Member for Growth and Economy, said: “Since the start of our Community Asset Transfer programme, we’ve had a lot of interest from community groups and heard about some fantastic future projects.

    “These new premises would allow us to support even more local groups, who, in turn, are making a huge difference in their neighbourhoods. Each building proposed for the second phase has so much potential but is currently sat empty and unused.

    “By offering them to interested groups within the community, the Council will be able to save on unnecessary maintenance costs and provide charities and organisations with a space they may otherwise be unable to afford.

    “The efforts of our third-party sector are essential in supporting the city’s most vulnerable residents and giving a voice to those in need. Community transfers are a way for us to support the vital work that goes on every single day.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK Chair statement: Ministerial Roundtable on Sudan

    Source: United Kingdom – Executive Government & Departments

    Statement highlighting UK Minister for Development, Anneliese Dodd’s attendance at a ministerial roundtable to urgently address the rapidly deteriorating humanitarian crisis in Sudan.

    On 13 February, the UK Minister for Development, Anneliese Dodds MP, convened Ministers and other representatives virtually from Canada, Egypt, EU, France, Germany, Saudi Arabia, Netherlands, Norway, Qatar, UAE and USA with the UN Emergency Relief Coordinator, Tom Fletcher. The participants discussed how to urgently address the rapidly deteriorating humanitarian crisis in Sudan where over 30 million people are in urgent need of assistance, more than 12 million are displaced and famine conditions have been confirmed.

    The participants agreed on the critical need for both warring parties to adhere to their commitments agreed in the Jeddah Declaration to respect international humanitarian law, protect civilians and facilitate the rapid and unimpeded passage of humanitarian relief both into and throughout Sudan. They expressed concern that only a fraction of aid available has been able to reach those in most need and discussed the importance of all sides lifting the bureaucratic impediments that are unnecessarily blocking or delaying the distribution of aid.

    They took note of other efforts to galvanise international action and attention on the humanitarian situation in Sudan, including the High-Level Humanitarian Conference for the People of Sudan co-hosted by Ethiopia, UAE, the African Union and the Intergovernmental Authority on Development on 14 February that called for a Ramadan humanitarian pause and the launch of the 2025 UN Sudan Humanitarian Needs and Response Plan and the Regional Refugee Response Plan on 17 February.

    The participants re-affirmed their commitment to the Sudanese people and agreed to re-convene at regular intervals to strengthen the international response to the humanitarian crisis in Sudan.

    Media enquiries

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    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Federal Home Loan Bank of Atlanta Announces Preliminary Fourth Quarter and Annual 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 20, 2025 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter and year ended December 31, 2024. All numbers reported below for 2024 are approximate until the Bank announces audited financial results in its Form 10-K, which is expected to be filed with the Securities and Exchange Commission (SEC) on or about March 7, 2025.

    Fourth Quarter 2024 Operating Results

    • Net interest income for the fourth quarter of 2024 was $250 million, an increase of $9 million, compared to net interest income of $241 million for the same period in 2023. The increase in net interest income was primarily related to a decrease in interest rates between the comparative quarters which impacted expense from interest-bearing liabilities more than the income from interest-earning assets, partially offset by a decrease in average advance balances.
    • The average advance balances were $96.1 billion and $111.4 billion for the fourth quarter of 2024 and 2023, respectively.
    • Net income for the fourth quarter of 2024 was $176 million, an increase of $2 million, compared to net income of $174 million for the same period in 2023. The Bank had $16 million of voluntary housing contribution expense during the fourth quarter of 2024, compared to $12 million during the same period in 2023.
    • The net yield on interest-earnings assets for the fourth quarter of 2024 was 67 basis points, an increase of nine basis points, compared to 58 basis points for the same period in 2023. Many of the Bank’s assets and liabilities are indexed to the Secured Overnight Financing Rate (SOFR). Average daily SOFR during the fourth quarter of 2024 was 4.68 percent compared to 5.32 percent for the same period in 2023.
    • The Bank’s fourth quarter of 2024 performance resulted in an annualized return on average equity (ROE) of 8.36 percent as compared to 7.83 percent for the same period in 2023. The increase in ROE was primarily due a decrease in the average total capital outstanding during the fourth quarter of 2024 compared to the same period in 2023.

    Annual 2024 Operating Results

    • Net interest income for the year ended December 31, 2024 was $966 million, an increase of $77 million, compared to net interest income of $889 million for the same period in 2023. The increase in net interest income was primarily related to an increase in interest rates during the year which impacted income from interest-earning assets more than the expense from interest-bearing liabilities, partially offset by a decrease in average advance balances.
    • The average advance balances were $98.8 billion and $125.4 billion for the year ended December 31, 2024 and 2023, respectively.
    • Net income for the year ended December 31, 2024 was $697 million, an increase of $48 million, compared to net income of $649 million for the same period in 2023. The increase in net income was primarily due to a $77 million increase in net interest income. Additionally, during 2024 the Bank had $49 million of voluntary housing contributions expense, compared to $19 million during 2023.
    • The net yield on interest-earnings assets for the year ended December 31, 2024 was 64 basis points, an increase of 14 basis points, compared to 50 basis points for the same period in 2023. The year-to-date average daily SOFR as of December 31, 2024 was 5.15 percent compared to 5.01 percent for the same period in 2023.
    • The Bank’s 2024 performance resulted in an annualized return on average equity (ROE) of 8.31 percent as compared to 7.43 percent for the same period in 2023. The increase in ROE was primarily due to the increase in net income during the year.

    Financial Condition Highlights

    • Total assets were $147.1 billion as of December 31, 2024, a decrease of $5.3 billion from December 31, 2023.
    • Advances outstanding were $85.8 billion as of December 31, 2024, a decrease of $10.8 billion from December 31, 2023.
    • Total capital was $7.9 billion as of December 31, 2024, a decrease of $183 million from December 31, 2023. Retained earnings increased to $2.8 billion as of December 31, 2024, compared to $2.5 billion as of December 31, 2023.
    • As of December 31, 2024, the Bank was in compliance with all applicable regulatory capital and liquidity requirements.

    Reliable Source of Liquidity

    • For 2024, the Bank originated a total of $311.4 billion of advances, thereby providing significant liquidity to its members to support lending and other activities in their communities. The Bank is proud to continue to execute on its mission to be a reliable source of liquidity and funding for its members, while remaining adequately capitalized.

    Commitment to Affordable Housing and Community Development

    • The Bank is required and commits 10 percent of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by law, which amounted to $72 million for the 2023 statutory Affordable Housing Program (AHP) assessment available for funding in 2024. As of December 31, 2024, the Bank has accrued $77 million to its AHP pool of funds that will be available to the Bank’s members and their communities in 2025 for funding of eligible projects.
    • During the year ended December 31, 2024, the Bank made an additional $49 million of voluntary housing and community investment contributions. This consisted of $15 million of additional voluntary housing contributions to the Bank’s AHP Homeownership Set-aside Program, $8 million of additional voluntary housing contributions to the Bank’s AHP General Fund, $20 million of voluntary contributions to the Bank’s Workforce Housing Plus+ Program, and $6 million of voluntary contributions to the Bank’s Heirs’ Property Family Wealth Protection Fund.
    • In 2025, the Bank has voluntarily committed an additional five percent of its 2024 income before assessments, equal to $41 million, to further support the affordable housing and community development needs of its communities. This will result in a total commitment by the Bank to support affordable housing and community development needs of $118 million in 2025.
    • Since the inception of its AHP in 1990, the Bank has awarded more than $1.2 billion in AHP funds, assisting more than 177,000 households.
     
     
    Federal Home Loan Bank of Atlanta
    Financial Highlights
    (Preliminary and unaudited)
    (Dollars in millions)
     
        As of December 31,
    Statements of Condition  2024    2023
      Advances $         85,829       $         96,608    
      Investments           60,084                 54,207    
      Mortgage loans held for portfolio, net           89                 103    
      Total assets           147,091                 152,370    
      Total consolidated obligations, net           135,851                 141,572    
      Total capital stock           5,148                 5,597    
      Retained earnings           2,785                 2,524    
      Accumulated other comprehensive loss           —                 (5 )  
      Total capital           7,933                 8,116    
      Capital-to-assets ratio (GAAP)           5.39   %             5.33   %
      Capital-to-assets ratio (Regulatory)           5.39   %             5.33   %
        Three Months Ended December 31,   Years Ended December 31,
    Operating Results and Performance Ratios  2024    2023    2024    2023
      Net interest income $         250       $         241       $         966       $         889    
      Standby letters of credit fees           4                 4                 17                 10    
      Other income (loss)           2                 (1 )               6                 (5 )  
      Total noninterest expense (1)           61                 51                 215                 173    
      Affordable Housing Program assessment           19                 19                 77                 72    
      Net income           176                 174                 697                 649    
      Return on average assets           0.46   %             0.41   %             0.45   %             0.36   %
      Return on average equity           8.36   %             7.83   %             8.31   %             7.43   %
    __________
    (1) Total noninterest expense includes voluntary housing and community investment contributions of $16 million and $12 million for the three months ended December 31, 2024 and 2023, respectively, and $49 million and $19 million for the years ended December 31, 2024 and 2023, respectively.
       

    Additional financial information concerning the Bank’s results of operations for the most recently completed year ended December 31, 2024, will be available in the Bank’s Form 10-K that the Bank expects to file with the SEC on or about March 7, 2025 and will be available at www.fhlbatl.com and on www.sec.gov.

    About Federal Home Loan Bank of Atlanta

    FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBank System). Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

    For more information, visit our website at www.fhlbatl.com.

    To the extent that the statements made in this announcement may be deemed as “forward-looking statements”, they are made within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by such forward-looking statements, and the reader is cautioned not to place undue reliance on them, since those may not be realized due to a variety of factors, including, without limitation: legislative, regulatory and accounting actions, changes, approvals or requirements; completion of the Bank’s financial closing procedures and final accounting adjustments for the most recently completed quarter; SOFR variations; future economic, liquidity and market conditions (including in the housing market and banking industry); changes in demand for advances, advance levels, consolidated obligations of the Bank and/or the FHLBank System and their market; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, climate, and world events; disruptions in information systems; membership changes; mergers and acquisitions involving members; changes to the Bank’s voluntary housing program and other adverse developments or events, including extraordinary or disruptive events, affecting the market, involving other Federal Home Loan Banks, their members or the FHLBank System in general, including acts or war and terrorism. Additional factors that might cause the Bank’s results to differ from forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.

    The forward-looking statements in this release speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of these statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law. New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements.

    CONTACT: Sheryl Touchton
    Federal Home Loan Bank of Atlanta
    stouchton@fhlbatl.com
    404.716.4296

    The MIL Network –

  • MIL-OSI United Kingdom: Kindred Studios set to return to North Paddington with a permanent home at 300 Harrow Road | Westminster City Council

    Source: City of Westminster

    Kindred Studios are poised to make a return to North Paddington, having been selected to manage the new purpose-built enterprise space in the 300 Harrow Road development. Previously located at the former Westminster College in Maida Vale, they are delighted to be back in the borough, supporting the creative community.  

    The new enterprise space is part of a comprehensive regeneration project led by the council, which includes new truly affordable homes, a nursery, community space and a community café. The affordable business space is a key component of the council’s Enterprise Space programme and is designed to serve as a hub for creative incubation, education and outreach. This aligns with the council’s vision for North Paddington, centred around creating a more inclusive, connected and vibrant community.  

    North Paddington is one of several areas designated as Creative Enterprise Zone (CEZ), with the Mayor of London granting £170,000 towards fostering a vibrant creative and cultural economy in the area and opening opportunities for local people. This comes at a crucial time, as there have been significant losses of space for creatives across the capital, and in North Paddington this included Kindred Studios’ previous home, and the London Print Studio. 

    The council will now begin working with Kindred Studios who will fit out the space in the coming months, with an opening anticipated later this year. Once completed the 7,500 square foot space will be equipped with around 30 – 36 affordable studios, and co-working spaces for up to 100 local creatives and businesses. Kindred Studios will soon be inviting applications from artists to express interest in the new space. Stay informed by signing up for the Westminster Business Newsletter. 

     

    Cllr Geoff Barraclough, Cabinet Member for Planning and Economic Development, said:  

    “Small businesses in the creative sector need space but often can’t afford market rents in central London.  

    “That’s why we’re delighted to welcome Kindred Studios to manage our newly purpose-built low-cost workspace at 300 Harrow Road, located in our North Paddington Creative Enterprise Zone.   

    “Kindred will run a continuous programme of networking, training, and events to transform the council’s newest enterprise space into a permanent, supportive environment for creative businesses. With our help, these small businesses will soon grow into bigger ones, generating good growth and employment for local people.” 

    Angelique Schmitt, Founder and CEO, of Kindred Studios said: 

    “It’s a great pleasure for us to be back in the borough, working alongside Westminster Council to deliver a hugely exciting new facility that will benefit creatives, college students, and the wider public with a transformative arts programme designed to foster connection and engagement.” 

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Minister Burke, Minister Donohoe and Minister Chambers welcome latest figures showing further employment growth in fourth quarter of 2024

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    20th February 2025

    The Q4 2024 Labour Force Survey and latest Monthly Unemployment Release show:

    • Employment continues to grow, with 71,400 jobs created in the year to Q4 2024
    • Total employment now stands at 2.78 million
    • Employment growth has been widespread throughout the regions – Employment outside of Dublin increased by 48,000 in the year to Q4 2024 (+2.5 percent)
    • Full time employment was up 82,900 (+3.9 percent) year on year in the fourth quarter, while part time employment was down 11,600 (-2.0 percent) year on year
    • In January 2025, the seasonally adjusted unemployment rate was 4.0 percent, down from the revised rate of 4.5 in December 2024 and from a rate of 4.5 percent in January 2024

    Labour Force Survey (LFS) results published today by the Central Statistics Office show continued growth in Ireland’s labour market, with 71,400 jobs created in the year to Q4 2024.

    Employment now stands at 2.78 million, an increase of approximately 2.6 percent over Q4 2023. 

    This is reflective of the success of the Government’s focus on driving a labour market recovery in the aftermath of the COVID-19 pandemic, as set out in the Economic Recovery Plan. This commitment to continued employment growth has been renewed in the Government’s White Paper on Enterprise, published in December 2022, which sets out the strategic direction for job creation in the years ahead. 

    Commenting on the figures, the Minister for Enterprise, Tourism and Employment, Peter Burke, said:

    “The Irish labour market has shown outstanding progress in 2024, with key indicators reflecting a robust economy and increasing opportunities for workers across multiple industries. Ireland’s workforce continues to expand, driving the nation’s economic resilience and ensuring a brighter future for job seekers across the regions. It is vital that we continue to build on these successes, ensuring that Ireland remains an attractive and inclusive place for individuals to work, live, and prosper.

    “The new Small Business Unit, to be established in the coming weeks, will be one of the tools utilised to ensure the delivery of targeted support for small businesses and employers. These small businesses continue to be the backbone of our local and national economies.”

    The Minister for Finance, Paschal Donohoe, said:

    “2024 was another strong year for the Irish labour market, with the number of people employed reaching 2.78 million in the final quarter. Despite a slight moderation in annual employment growth in the final quarter, the number of people in work increased by 70,000 last year. As a result, employment has now increased by 400,000 compared to the pre-pandemic period, a truly remarkable achievement.  Encouragingly, the unemployment rate remains low at 4.2 per cent, broadly consistent with full employment.

    “Today’s results point to some modest easing in the tight conditions that have characterised the labour market over the past year. Looking ahead, the economic outlook is increasingly uncertain reflecting the challenging international environment. My Department will publish updated macroeconomic projections as part of its usual spring forecasts that will be published in April.”

    The Minister for Public Expenditure, Jack Chambers, said:

    “Our incredibly strong levels of employment continue to be a central component of our country’s robust economic performance. Increased growth in job rates – both in our cities and in the regions – underscores the confidence employers and investors have in the Irish economy. 

    “This is a direct result of the sensible management of our public finances and the economic policies which have been pursued in recent years. The positive figures released today also speak to the level of State investment to support both our small and medium enterprise sector as well as our education system which is producing high calibre, highly skilled workers across a broad range of areas and sectors throughout our economy. 

    “As an open, trading economy we know we face risks from changes to global trade. The best way to safeguard, protect and further advance our economic success is to enhance our national competitiveness. A key aspect of this is continuing to invest in our people and workers to upskill and diversify our talent pool which will equip us to unlock future economic opportunities and to fully harness the potential of the green and digital transitions.”

    Please also find here a link to the CSO release: Labour Force Survey (LFS) – CSO – Central Statistics Office

    ENDS

    Back to Department News

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    MIL OSI Europe News –

  • MIL-OSI Europe: AFRICA/NIGERIA – Father Damulak escapes after his kidnapping on February 6

    Source: Agenzia Fides – MIL OSI

    Diocesi di Shendam

    Abuja (Agenzia Fides) – Father Cornelius Manzak Damulak, kidnapped on February 6 (see Fides, 7/2/2025), managed to escape from the hands of his kidnappers.According to the police in the State of Niger (central Nigeria), the priest was able to free himself on the evening of February 13 and was rescued by a police patrol the next morning. “On February 14, around noon, a person was found by a police patrol from Chanchaga on the Pogo Paiko highway and immediately taken to safety,” says a statement from the police command. “During questioning, the person was identified as Cornelius Damulak (36), a student at the ‘Veritas University’ in Abuja.” The police statement added: “The victim was kidnapped from his home in Bwari (Abuja) at around 5 a.m. on Thursday, February 6, and taken to the forests. Fortunately, on February 13, Father Damulak managed to escape from the kidnappers and found himself on the Pogo Paiko Highway in Minna, where, after a long walk, he was picked up by one of our patrols.”Father Damulak belongs to the clergy of the diocese of Shendam in Plateau State (central Nigeria), but was studying in the federal capital, Abuja, in whose urban area he was kidnapped. (L.M.) (Agenzia Fides, 20/2/2025)
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  • MIL-OSI Europe: ASIA/INDIA – BJP woman as Delhi Chief Minister: raising expectations among Catholics

    Source: Agenzia Fides – MIL OSI

    New Delhi (Agenzia Fides) – Rekha Gupta (50) is the new Prime Minister of the Capital Territory of Delhi. The Indian People’s Party (Bharatiya Janata Party, BJP), which also leads the federal government with Narendra Modi, appointed her as head of government of the “National Capital Territory” (NCT) after the recent electoral victory.Gupta, who was sworn in and took office today, February 20, is the fourth woman to hold this office. She was student spokesperson, general secretary and president of the Delhi University Students’ Union before joining the BJP, devoting herself to active politics and becoming general secretary of the Delhi section of the party. In the last elections for the renewal of the Delhi Parliament, she won a seat in the North-West constituency with 68,200 votes.With her appointment in Delhi, the BJP also wants to show itself as a party that gives space to women. “In the parliamentary elections, the people of Delhi expressed their desire for change and gave the BJP a majority. The people of the city now expect an improvement in life on various levels,” says Father George Manimala, who is responsible for the Holy Spirit Church in the south of the city and coordinator of the diocesan commission for the family, in an interview with Fides. “In a city that is struggling with serious problems such as pollution, traffic congestion, unemployment and extreme poverty, people have put their trust in the BJP and want to see how it intends to govern the city. The election of Gupta seems interesting and should be welcomed without prejudice: one can say that she appears to be a sincere person who has the common good at heart,” says the Catholic priest.The fact that she belongs to the Nationalist Party, he stresses, “does not alter the sympathy of the Catholic faithful, who also look to her with hope, at least in a city like Delhi and at least in the more educated sections of the population, because there are also Catholic and Christian believers in the BJP”. “More extremist nationalist fringe groups”, he notes, “sometimes adopt a hostile or violent attitude when they gain a foothold among uneducated people or in areas of the country that have yet to see full development”. “This is why the key factor for engagement in politics and for citizens’ participation in political life is education: and this is precisely one of the areas in which we, as the Indian Catholic community, are most committed at various levels”, concludes Fr. Manimala. (PA) (Agenzia Fides, 20/2/2025)
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  • MIL-OSI Europe: ASIA/HOLY LAND – The Heads of the Churches in Jerusalem back Armenian Patriarchate in the face of threat of confiscation of Church property

    Source: Agenzia Fides – MIL OSI

    thearmenianreport.com

    Jerusalem (Agenzia Fides) – ” If one member suffers, all suffer together”, say the Patriarchs and Heads of the Christian Churches of Jerusalem, quoting St. Paul from the First Letter to the Corinthians, in order to maintain their fraternal bond with the Armenian Patriarchate of the Holy City, after the Municipality of Jerusalem threatened to confiscate and auction the Patriarchate’s properties to pay off the tax debts accumulated in recent decades, which, according to municipal officials, have reached “astronomical” figures.The planned confiscation is perceived as intimidation by the Armenian Patriarchate, which disputes the amount of the sums demanded by the municipal tax officials and the way in which the amounts owed were calculated.The foreclosure proceedings, which had already been initiated, had been temporarily suspended following a petition from the Patriarchate, but municipal officials claim that the deadline to appeal and reduce the amount demanded has now expired. For its part, the Patriarchate stresses that a large part of the alleged debt is related to Patriarchate properties that are already leased to the Jerusalem Municipality.A court hearing on the ongoing dispute is scheduled for February 24. If the court rejects the petition and thus paves the way for seizure proceedings, the Patriarchate warns, this will set a dangerous precedent and pave the way for further seizures of property belonging to other church entities.On Wednesday, February 19, the Patriarchs and Heads of Churches in Jerusalem issued a joint statement expressing their solidarity with the Armenian Patriarchate “in its pursuit of justice” against what they called an “unjust foreclosure order.” “The measures taken against the Armenian Patriarchate,” the statement said, “appear legally dubious and morally unacceptable”.The Patriarchs and Heads of the Churches in Jerusalem said: “It is inconceivable that Christian institutions, whose mission for centuries has been to safeguard faith, serve communities, and preserve the sacred heritage of the Holy Land, should now face the threat of property seizure under Israeli administrative measures that disregard due process” and disregard the role of the “governmental committee established to negotiate such matters in good faith.”The threatened confiscation of property, the Heads of Churches in Jerusalem emphasize, “is an attempt to the right of existence of the Orthodox Armenian Church, depriving it of the necessary economic resources to live and operate and depriving the local Armenian people of the pastoral care of their Church.” And “the targeting of one Church is an assault on all, and we cannot remain silent while the foundations of our Christian witness in the land of Christ’s ministry are shaken.”The Patriarchs and Heads of Churches appeal directly to Prime Minister Benjamin Netanyahu, Interior Minister Moshe Arbel and Minister Tzachi Hanegbi “to immediately intervene, freeze all foreclosure proceedings, and ensure that negotiations resume within the above-mentioned governmental committee in order to reach to an amicable solution regarding this issue in the spirit of justice.”(GV) (Agenzia Fides, 20/2/2025)
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  • MIL-OSI Europe: AFRICA/DR CONGO – Chaplain and nuns prevent Bukavu prison from burning down completely

    Source: Agenzia Fides – MIL OSI

    Kinshasa (Agenzia Fides) – “It is thanks to the chaplain and some nuns that the prison was not completely burned down,” reports a source from the local Church in Bukavu, the capital of the Congolese province of South Kivu, which fell into the hands of the M23 militias on February 16 (see Fides, 17/2/2025).”On Saturday, February 15, as the M23 approached, the city was looted by fleeing FARDC (Armed Forces of the Democratic Republic of Congo) soldiers, pro-government Wazalendo militiamen and local youth,” reports the source, who asked not to be identified. “The prison was also the target of looting, although it is unclear whether it was by outsiders and/or by the inmates themselves, who set fire to the prison before escaping. Only the intervention of the chaplain, assisted by some nuns, prevented the flames from completely destroying the prison. The prison chapel was also looted, but the priest managed to prevent its complete destruction.”Our source reports that “Bukavu is coming back to life. People have taken to the streets to clear away the garbage left by the looting of the past few days. Business has resumed and schools are expected to reopen next Monday. It is not known when or if the banks will reopen, we are awaiting instructions from Kinshasa. It is hoped that they will be able to reopen soon, as they are essential for trade.””We are also awaiting the instructions that the ‘new authorities’ intend to give the population in the next few days,” the source continued.”The city now seems safe. The clashes and looting have stopped.”The M23 militiamen have little presence in Bukavu; most of their troops are on their way to Uvira, which will probably fall today. The regular FARDC soldiers left the city yesterday. Only the “Wazalendo fighters, who in recent days clashed with the FARDC soldiers who asked them to hand over their weapons, remain in Uvira (see Fides, 19/2/2025).””Another direction of march for the M23 is west, towards Urega, where gold has been mined since colonial times. They are still about 80 kilometers from the gold mines, but it is only a matter of time before this area also falls into their hands,” concludes the Fides source.Meanwhile, in North Kivu, the M23 is advancing towards Butembo, another important center of the province after Goma, the capital captured at the end of January. (L.M.) (Agenzia Fides, 20/2/2025)
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  • MIL-OSI United Kingdom: Mayor of London’s St Patrick’s Day Festival returns on Sunday 16 March

    Source: Mayor of London

    • London’s St Patrick’s Day parade and Trafalgar Square celebrations to take place on Sunday 16 March
    • Londoners and visitors can look forward to a free, family-friendly afternoon of entertainment in the heart of the capital
    • Paralympic gold medal winning cyclist Katie-George Dunlevy and Olympic gold medal boxer Kellie Harrington will be Grand Marshals of this year’s parade

    The Mayor of London, Sadiq Khan, has today announced that London’s famous St Patrick’s Day Festival and parade will return on Sunday 16 March. The celebrations bring together Londoners and visitors in the heart of the capital to honour the immense contributions of London’s Irish community.

    Irish Paralympic gold medal winning cyclist Katie-George Dunlevy and Olympic gold medal winning boxer Kellie Harrington are this year’s Grand Marshals. Following their incredible success in Paris last year, Katie-George and Kellie will lead the spectacular parade of more than 50,000 people through central London. There will be great floats, marching bands, and dance troupes as the procession weaves its way from Hyde Park Corner, past Piccadilly, Trafalgar Square, and on to Whitehall.

    Trafalgar Square will be the centre of the celebrations with a free afternoon of entertainment hosted by Irish-Indian-Malaysian DJ and broadcaster Tara Kumar. The main stage will feature a wide range of family-friendly performances, including world-class acts Kíla, Irish Women in Harmony, Ragz-CV, and many more.

    Celebrity chef Anna Haugh is returning to demonstrate how to cook Irish culinary delights, and there will be food stalls to suit all tastes.

    This year’s programme includes the Peace Heroines exhibition, an art project which celebrates Ireland’s unsung women heroes. Visitors can also enjoy the Irish Creative Collective Sessions showcasing the best of Ireland’s comedy, music, and film and TV shorts.

    There will be an opportunity to learn traditional Irish dancing steps in the Irish Dance Zone, while in the Children’s Zone Artburst will run free creative workshops using recycled materials to promote sustainability – a key theme for this year’s event.

    On the big screen there will be clips of The Song Cycle, a film that documents Nick Kelly and his band Dogs as they cycled from Dublin to Glastonbury to perform at last year’s festival. They’ll be cycling all the way from Dublin to London to join the parade before performing on the main stage.

    London’s St Patrick’s Day Festival is a wonderful opportunity to experience the warmth, creativity and culture of the capital’s Irish community while celebrating the enduring ties between London and Ireland.

    Mayor of London, Sadiq Khan, said: “London’s St Patrick’s Day celebrations are a key part of our capital’s cultural calendar and I’m delighted that each year the festival gets bigger and better. I’m proud that we host this major event to honour and celebrate Irish culture and the immense contributions of our capital’s Irish community. From business and public service to the arts and culture, Irish Londoners have played – and continue to play – a vital role in shaping the very fabric of our city, making London a better, brighter and more prosperous place for everyone. Lá Fhéile Pádraig Sona Daoibh!”

    Ireland’s Ambassador to the UK, Martin Fraser, said: ““The Embassy of Ireland is delighted to support and be part of this event once again. It is a joyful and diverse celebration of Irish arts and culture, with a fantastic programme devised by our friends at the London Irish Centre.

    “St Patrick’s Day in London is truly special, bringing together not only our Irish community but all friends of Ireland here in Britain, and people from around the world who feel a connection to Ireland. It is also a wonderful way to recognise the contribution of the Irish diaspora to London over so many years.

    “The parade and Trafalgar Square show is consistently a highlight in London’s cultural calendar and one which we are so proud to be part of – made all the more special this year by the presence of our Olympic medallists Grand Marshals: para-cyclist Katie-George Dunlevy and boxer Kellie Harrington. It is an honour to have the opportunity to walk alongside these exceptional Irish athletes. We are also happy to highlight the inclusion this year of the “Peace Heroines” exhibition, a series of portraits by the artist FRIZ celebrating the role of women in the Good Friday Agreement. 

    “I know that this year’s events will be a great success, with thanks to the hard work and creativity of all involved, and with the support of Mayor Sadiq Khan.

    “Beannachtaí na Féile Pádraig oraibh go léir!”

    Grand Marshal, Irish Olympic gold medal winning boxer Kellie Harrington, said: ” I am honoured to be attending as Grand Marshal alongside my good friend Katie George Dunlevy in the London St Patrick’s Day Parade on March 16th. I have always gone to the St Patrick’s Day Parade in Ireland on Dublin’s O’Connell St, this be my first Parade away from home and I am very excited to celebrate it with everyone in London. I look forward to celebrating with you all. “

    Grand Marshal, Irish Paralympic gold medal winning cyclist Katie-George Dunlevy, said: “”I’m really honoured and excited to be part of the St Patrick’s Parade and Festival on March 16th in London. I take such pride in representing our wonderful country on the world stage, at the Paralympics. After such an incredible year, where I came home with three medals and retained my time trial title, this is truly the cherry on top!”

    Séamus MacCormaic, CEO of the London Irish Centre, said: “The London Irish Centre are honoured to be Programme Partner for the London St Patrick’s Festival 2025 and to curate the iconic concert in Trafalgar Square each year. This special event acknowledges and celebrates the contribution of Irish communities to London, and we are proud to be part of this story for the past 70 years. Our Culture Team will bring a diverse programme of Irish arts and culture to the iconic Trafalgar Square and celebrate the creativity and huge contribution of the Irish community in London. We want to thank the Mayor Sadiq Khan and London Authority for working with us. and to everyone who works so hard to make this festival such a huge success.”

    Ger Hayes, Managing Director of the event’s title sponsor Sisk, said: “We are delighted to continue our sponsorship of the London St Patrick’s Day parade yet again this year. 

    “St Patrick’s Day is an excellent opportunity for our diverse workforce, many of whom who are Irish diaspora to come together with their friends and family to celebrate with us. 

    “As an Irish business, it is crucial for us to remain active in the London Irish community. We do a lot of voluntary work in the communities in which we operate and have built an excellent relationship supporting the Kilburn Irish Pensioners group in Brent.  

    “As an Irish business, we have been operating in London since the 1980’s and we have completed many major projects including the redevelopment of the Royal Academy of Arts and we are currently building the new Great Ormond Street Children’s Hospital Children’s Cancer Centre.

    “We would like to wish everyone a Happy St Patrick’s Day!”

    Tourism Ireland’s Acting Deputy Head of Great Britain, David Wood, said: “St Patrick’s Day Festival in London’s Trafalgar Square returns for a fantastic day showcasing the vibrancy of Irish culture, arts, food and community. Join Tourism Ireland in celebrating on the 16th March for the festival’s 22nd year. Visit us on the stand for a warm welcome and to find out the latest news and reasons to visit the island of Ireland in 2025.”

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: 19 February 2025 Departmental update Global leaders make new road safety commitments, endorse new declaration to reduce road deaths

    Source: World Health Organisation

    Leaders from around 50 countries made new national commitments to advance road safety at the Fourth Global Ministerial Conference on Road Safety that was hosted that by the Kingdom of Morocco and the World Health Organization [WHO] in Marrakech, Morocco today.

    Road crashes kill nearly 1.2 million people each year – more than two deaths per minute – and are the leading cause of death among children and young people aged 5-29 years.

    Ministers from 100 countries endorsed the Marrakech Declaration for Global Road Safety. that calls on governments to make road safety a political priority, ensure sustained funding and advance actions to achieve the goal of halving road deaths by 2030 as set out in the United Nations Decade of Action for Road Safety 2021-2030 and the Sustainable Development Goals. 

    “We are proud to have hosted this 4th Global Ministerial Conference in Marrakech, mobilizing UN member states and our international partners around an issue that concerns us all. As Africans in particular and as active members of the international community, we must celebrate this milestone. Every decision made here must translate into lives saved,” said Mr. Abdessamad Kayouh, Minister of Transport and Logistics of the Kingdom of Morocco.

    Key commitments made at the conference include:

    • Thailand’s pledge to bring road deaths down to 12 per 100,000 people by 2027.
    • Bangladesh will enact the country’s first national road safety law.
    • Saudi Arabia will update the country’s national road safety strategy.
    • Colombia will ensure more cities will have speed limits of 50kmh and 30kmh.
    • Guinea will ratify the African Charter on Road Safety and align regulations with international standards.
    • Cote d’ivoire aims to increase helmet wearing among motorcyclists to 90% by 2027.
    • The United Kingdom will produce its first national road safety strategy in over a decade. 

    “Concrete commitments to move further and faster to save lives and boost road safety are just what we need to meet the goal of halving road deaths by 2030, and we’ve achieved that here. We commend the countries that made these commitments and we thank the Kingdom of Morocco for their leadership in hosting this crucial event. WHO is here to assist all countries in preventing deaths on the roads,” said Dr Etienne Krug, WHO Director for the Department of the Social Determinants of Health.

    The Marrakech Declaration calls for safety to be a primary concern in all road infrastructure planning and related policies, laws and regulations. It calls for greater coordination across government ministries, including health, transport and the environment. 

    The declaration urges governments to adopt policies and infrastructure that advance safe, green and equitable mobility, such as walking, cycling and public transport. It recognizes that safe and accessible mobility drives equitable economic growth across society. 

    The declaration also calls for more cross-border knowledge-sharing, technical support and technology transfer, and to advance research into emerging technologies such as artificial intelligence (AI). It highlights the need to work with civil society and academia. 

    MIL OSI United Nations News –

  • MIL-OSI USA: Sen. Jason Esteves Introduces Legislation to Support Georgia Seniors, Bring Down Cost of Senior Care

    Source: US State of Georgia

    ATLANTA (February 20, 2025) — This week, Sen. Jason Esteves (D–Atlanta) introduced a series of bills aimed at cutting costs for Georgia seniors and ensuring elderly Georgians have the resources they need to age with dignity, regardless of their income or zip code.

    The proposed legislation includes:

    • Senate Bill 187 would increase Georgia’s tax credit for caregivers from $150 to $500.
    • Senate Bill 186 would allow the use of Medicaid funds for personal care homes and assisted living communities.
    • Senate Bill 188 would establish a Georgia Adult and Aging Services Agency.

    “As a caregiver for my mother, one of the 180,000 Georgians living with Alzheimer’s, this issue is close to my heart. We must do everything we can to ensure all Georgians have the resources they need to age with dignity,” said Sen. Esteves. “I am excited to continue my work to bring down the cost of senior care, provide financial relief for our caregivers and improve Georgia’s senior care system.”

    The three pieces of legislation seek to increase Georgia’s tax credit for caregivers, allow the use of Medicaid funds to pay for assisted living and in-home care and establish a Georgia Adult and Aging Services Agency to address the pressing concerns of Georgia’s aging population. Georgia’s senior population is growing more rapidly than any other age demographic. By 2030, the U.S. Census Bureau estimates that more than 20% of Georgia’s population will be 60 and older.  

    For more on Sen. Esteves’ personal connection to the legislation, read his guest editorial here.

    # # # #

    Sen. Jason Esteves represents the 35th Senate District, including portions of Cobb and Fulton County. He may be reached by phone at (404) 463-1562 or by email at Jason.Esteves@senate.ga.gov.

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI Europe: EU greenlight to reduce food waste and set new rules on waste textile

    Source: European Union 2

    An agreement has been struck to set EU targets for food waste reduction by 2030 and measures towards a more sustainable and less waste-producing textile sector. Under the new rules, textile producers and fashion brands would be required to pay a fee to help fund waste collection and treatment.

    MIL OSI Europe News –

  • MIL-OSI: FBS Analysts Explore AI’s Growing Role in Trading

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — FBS, a leading global broker, has released an in-depth analysis of how artificial intelligence (AI) is reshaping the trading landscape. The report highlights AI’s growing role in improving efficiency, accuracy, and data-driven decision making. 

    AI Reshaping Trading Strategies

    According to FBS analysts, one of the most significant developments is the rise of AI-powered trading assistants. These tools process large volumes of real-time market data, identifying trends and patterns that may go unnoticed by traders. By leveraging AI-driven insights, traders can optimize their strategies and improve market timing. A 2024 market report shows that traders using AI-powered assistants improved their entry and exit point accuracy by 45% in highly volatile markets.

    AI-driven systems also enable real-time sentiment analysis by scanning financial news and social media to evaluate market dynamics. A global survey conducted by TradingTech Insights in 2024 found that 75% of retail traders utilizing AI-assisted analysis increased transaction accuracy by 50%.

    The Rise of AI in Algorithmic Trading

    FBS analysts note that AI is revolutionizing algorithmic trading by moving beyond traditional rule-based strategies. Unlike conventional automated trading systems, AI models dynamically adjust trading strategies by continuously analyzing historical and live market data. Bloomberg Intelligence estimates that AI-powered systems accounted for 68% of trade flow on major exchanges like NASDAQ and the London Stock Exchange in 2024.

    Predictive analytics, another key AI-driven innovation, allows traders to forecast market trends by analyzing price movements, sentiment indicators, and macroeconomic factors. According to a PwC study, hedge funds incorporating AI-driven predictive analytics achieved returns 23% higher than those relying solely on traditional models.

    FBS highlights that AI has significantly increased accessibility to advanced trading tools. Between 2020 and 2024, the number of retail traders using AI-powered platforms rose by 120%, enabling individual traders to access sophisticated analytics once reserved for institutional investors.

    As AI technology evolves, FBS has recently introduced the FBS AI Assistant, a next-generation tool designed to support traders in making informed decisions. The FBS AI Assistant simplifies complex data, transforming complicated chart patterns into clear, easy-to-read reports. By leveraging AI-driven insights, traders can validate their strategies, minimize human error, and make informed decisions faster.

    Users can stay ahead with AI-powered trading and explore the FBS AI Assistant. 

    To get full insights, readers can visit here.

    About FBS

    FBS is a global brand that unites several independent brokerage companies under the licenses of FSC (Belize), CySEC (Cyprus), and ASIC (Australia). With 16 years of experience and over 100 international awards, FBS is steadily developing as one of the market’s most trusted brokers. Today, FBS serves over 27 000 000 traders and more than 700 000 partners around the globe. 

    Disclaimer

    This material does not constitute a call to trade, trading advice, or recommendation and is intended for informational purposes only. 

    AI-generated analysis is not financial advice. Users must always conduct their own research before trading.

    Contact

    The FBS Press Office

    FBS

    press@fbs.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a5282fa0-aefa-44eb-951f-52e3e4904b95

    The MIL Network –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Morocco: Alex Pinfield

    Source: United Kingdom – Executive Government & Departments

    Mr Alex Pinfield OBE has been appointed His Majesty’s Ambassador to the Kingdom of Morocco.

    Alex Pinfield OBE

    Mr Alex Pinfield OBE has been appointed His Majesty’s Ambassador to the Kingdom of Morocco in succession to Mr Simon Martin CMG.  Mr Pinfield will take up his appointment during August 2025.

    Curriculum Vitae    

     Full name: Alexander Giles Pinfield

    Year Role
    2022-2024 FCDO, Head of Iran Unit
    2021-2022 FCDO, Head of Afghanistan Policy Department
    2021 Kabul, Deputy Ambassador
    2020 FCDO, Head of International Human Resources
    2017-2020 FCO, Head of China Department
    2016 Cabinet Office, Deputy Director, National Security Secretariat
    2013 -2015 FCO, Head of Syria Unit
    2009-2013 Canberra, Head of Foreign Policy Section
    2007-2009 Tehran, First Secretary (Head of Political Section)
    2006 Pre-posting training (including Farsi language training)
    2005-2006 Cabinet Office, Middle East analyst
    2002-2005 Beijing, Second Secretary (Press and Public Affairs)
    2000-2002 Pre-posting training (including Chinese language training)
    1999 Joined FCO

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: European farmers to get over €98 million in EU financial support

    Source: European Union 2

    EU farmers who have lost income due to adverse climatic events or natural disasters are set to receive over €98 million from the EU’s agricultural reserve. The funds will be shared among farmers in Spain, Croatia, Cyprus, Latvia and Hungary who have all suffered due to extreme weather conditions.

    MIL OSI Europe News –

  • MIL-OSI Security: Man charged with bribery offences in Met Counter Terrorism investigation

    Source: United Kingdom London Metropolitan Police

    A man has been charged with a number of bribery offences following an investigation by Counter Terrorism Policing.

    Nathan Gill, 51 (06.07.1973) of North Wales, was charged via postal requisition with one count of conspiracy to commit bribery, under the Criminal Law Act 1977, and with eight counts of bribery, under the Bribery Act, 2010.

    He is due to appear at Westminster Magistrates’ Court on Monday, 24 February.

    The investigation has been led by detectives from the Met’s Counter Terrorism Command and a man was previously interviewed under caution on 3 March, 2022 in connection with bribery allegations.

    Further enquiries were carried out by officers and after authorisation by the Crown Prosecution Service Counter Terrorism Division, the man was subsequently charged as above.

    MIL Security OSI –

  • MIL-OSI: BexBack Introduces Double Deposit Bonus, $50 Welcome Bonus and 100x Leverage for Crypto Traders—No KYC Needed

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — Bitcoin hovers below $100,000, analysts suggest the cryptocurrency market is poised for a long-term period of high volatility. For investors, holding spot positions may no longer suffice to generate significant profits. Recognizing this, BexBack Exchange has launched a groundbreaking offer to empower traders: 100% deposit bonus, $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading—all with a No KYC policy.

    Why 100x Leverage Is a Game-Changer?

    With 100x leverage, you can multiply your trading positions with minimal capital, unlocking unparalleled profit potential. Here’s how it works:

    • Assume Bitcoin is priced at $100,000. By opening a long position with 1 BTC and applying 100x leverage, your trade controls a position worth 100 BTC.
    • If the price rises to $105,000, your profit would be (105,000−100,000)×100÷100,000=5BTC—a 500% return.

    Coupled with BexBack’s 100% deposit bonus, you can further amplify your trading power and increase your opportunities to profit.

    How Does the 100% Deposit Bonus Work?

    The deposit bonus is an exclusive feature designed to enhance your trading experience:

    1. Boost Your Margin: The bonus serves as additional margin, allowing you to take larger positions.
    2. Reduce Liquidation Risk: During volatile markets, the bonus acts as a safety buffer to help maintain your positions.
    3. Profits Are Yours: While the bonus itself cannot be withdrawn, the profits earned using it are fully withdrawable.

    BexBack’s Unique Advantages

    1. No KYC Required: Enjoy fast account setup and anonymous trading without lengthy verification.
    2. 100x Leverage: Amplify your trading power and seize market opportunities with one of the highest leverage offerings.
    3. 100% Deposit Bonus: Double your trading capital and increase your potential returns.
    4. $50 Welcome Bonus: New users can claim $50 in BTC after completing their first trade.
    5. Demo Account: A risk-free 10 BTC demo account allows users to practice strategies and familiarize themselves with the platform.
    6. Zero Spreads and No Slippage: All trades are executed at precise market prices, ensuring cost transparency.
    7. Global Support: Available in the US, Canada, Europe, and beyond, with 24/7 multilingual customer assistance.
    8. Affiliate Rewards: Earn up to 50% commission with no caps or time limits through the platform’s affiliate program.

    About BexBack

    BexBack is a premier cryptocurrency derivatives platform headquartered in Singapore, with offices in Hong Kong, the United States, Japan, and the United Kingdom. The platform is trusted by over 500,000 traders worldwide and holds a US MSB (Money Services Business) license, ensuring compliance with regulatory standards.

    BexBack proudly accepts users from the United States, Canada, and Europe, offering a seamless trading experience regardless of location. With innovative trading tools, robust security measures, and user-friendly interfaces, BexBack caters to both beginners and seasoned traders.

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    The MIL Network –

  • MIL-OSI Global: Burkina Faso’s Ibrahim Traoré is making waves in west Africa. Who is he?

    Source: The Conversation – Africa – By Daniel Eizenga, Research Fellow, Africa Center for Strategic Studies

    Captain Ibrahim Traoré is the interim leader of Burkina Faso, having taken over the position following a coup which he led against Lieutenant Colonel Paul Henri Damiba in September 2022. The 37-year-old captain had supported Damiba, his commanding officer, in a putsch earlier that year against former president Roch Marc Kaboré.

    Since Traoré has been in power, Burkina Faso has played a key role in the withdrawal of three west African states from the regional body Ecowas. Burkina Faso, Niger and Mali have formed an alternative, the Alliance of Sahel States. The Conversation Africa asked researcher Daniel Eizenga where the country was headed under Traoré’s leadership.

    Who is Ibrahim Traoré?

    Traoré was born in 1988 in Bondokuy, a small town on the route connecting Burkina Faso’s second city – Bobo Dioulasso – and its fourth largest, Ouahigouya. He completed secondary school in Bobo Dioulasso, then moved to the nation’s capital, where he studied at the University of Ouagadougou.

    After completing his undergraduate education, Traoré joined the army in 2010 at the age of 22. He undertook his officer training in Pô at the Georges Namoano Military Academy, an officer school for the Burkinabe armed forces. He graduated as a second lieutenant in 2012 and served as a peacekeeper in the United Nations Multidimensional Integrated Stabilization Mission to Mali (Minusma) after being promoted to lieutenant in 2014.

    After his stint with Minusma, Traoré took part in missions in northern Burkina Faso as part of a special counterterrorism unit. He was promoted to captain in 2020 at the age of 32.

    Damiba led a coup against Kaboré in January 2022. He then assigned Traoré as chief of an artillery regiment in the North Central region of Burkina Faso.

    As it became clear that Damiba was losing popularity within the junta, Traoré and a group of junior officers organised a coup. They seized on public and military outrage around an ambush that left 11 soldiers and dozens of civilians dead.

    What has been the response to his rule in Burkina Faso?

    Some media reports suggest that the young captain and his junta enjoy popular support throughout the country. Some have even drawn comparisons between Traoré and Burkina Faso’s earlier leftist revolutionary military leader, Captain Thomas Sankara. It’s true that the two captains did take power at the age of 34. But the comparisons end at their rank and age.

    During the 1980s and nearing the end of the cold war, Sankara came to power as ideological division split the Burkinabe armed forces. Officers supporting Sankara led a coup in 1983. Viewed as a Marxist revolutionary, Sankara attempted to enact political reforms. They included policies to boost public political participation, empower women, address environmental degradataion and reduce inequalities.

    Traoré’s position is much more precarious. Most military officers did not participate in either his coup or the one led by Damiba, underscoring the fragmented state of Burkina Faso’s armed forces. Traoré’s junta has claimed there have been multiple attempts at destabilisation or coups. This highlights the arbitrary means by which power has changed hands and the inherent instability present under junta rule.

    To shore up his position, Traoré has launched a restructuring drive. This has included redirecting revenues from taxes, the mining sector, and other sources of public revenues into defence coffers. He has also mobilised volunteers to fight violent extremists as part of the Volunteers for the Defence of the Homeland, a junta-sponsored civilian militia. There are reports that forced conscription has been used to send “volunteers” to the front lines of battle. The conflict data indicate that the strategy is not working.

    Traoré may not be as popular among ordinary people as he is often portrayed. This is inferred from the violent repression of critics, multiple alleged coup attempts as well as the ongoing violence and humanitarian crisis. He has cracked down hard on independent voices. Journalists, civil society leaders, political party leaders and even judges have been targeted by the junta with its forced conscription tactics and other forms of violent repression.

    What about external players?

    The September 2022 coup d’état got the attention of Russian foreign information manipulation and interference campaigns. The campaigns were linked to the shadowy Russian mercenary outfit, the Wagner Group. Other Russian information campaigns employed fake social media accounts that pose as Africans with a genuine interest in Burkina Faso. These accounts promote divisive rhetoric that places blame on France and other western countries for local grievances such as ongoing insecurity.

    Aiming to boost support for himself immediately following the coup, Traoré trained his sights on capturing the anti-French sentiment. He blamed the French for many of the country’s woes and cast Damiba as a close French ally. Within a few months, Traoré demanded the French withdraw its security presence from Burkina Faso altogether.

    Since the French withdrawal, Russian mercenaries have been seen providing protection for Traoré and reportedly supporting operations near the border with Mali. However, only some 100-300 Russian forces have gone to Burkina Faso. This suggests that the focus is on regime security for Traoré and his junta.

    What does the future hold?

    Traoré’s actions have not improved the security situation in the country. There have been at least 3,059 violent events linked to militant Islamist groups since he came to power in October 2022. This is a 20% increase in comparison to two years preceding the coup. The number of fatalities linked to militant Islamist violence nearly doubled from 3,621 in 2022 to 6,389 in 2024.

    The violence has also spread throughout the country to affect nearly every region and increased along Burkina Faso’s southern border. It’s likely that the data is under-reported.

    The junta has claimed to have foiled several coup plots since Traoré’s power grab. A foiled plot came in September 2024 only a few weeks after the deadliest massacre the country has ever suffered. Violent extremists killed hundreds of civilians outside the town of Barsalogho. Civilian fatalities linked to militant Islamist groups have increased from 721 in 2022 to 1,151 deaths in 2024.

    Perhaps more worrying are the civilian fatalities linked to the military or its sponsored militia.

    The violence in Burkina Faso presents an alarming outlook in which the collapse of the country cannot be ruled out. The military has reemerged as the principal political actor. By some counts the military has been directly or indirectly in power for 45 of the 65 years since Burkina Faso became independent.

    All the while, the militant Islamist insurgency embroils more and more of the countryside at great human cost. Some estimates place the number of people displaced by violence as high as 3 million, though the junta will not provide an official figure. That is more than 10% of the population of some 24 million people. Another million or more students may not be in school due to conflict and ongoing insecurity.

    Despite the effort to present Traoré as a bold reformer and saviour, the political, security and economic ramifications from his junta rule will reverberate through Burkina Faso for decades to come.

    Daniel Eizenga has previously received funding from a Minerva Initiative research grant through the University of Florida to conduct research in Burkina Faso towards his Ph.D. Dr Eizenga is currently a research fellow with the Africa Center for Strategic Studies.

    – ref. Burkina Faso’s Ibrahim Traoré is making waves in west Africa. Who is he? – https://theconversation.com/burkina-fasos-ibrahim-traore-is-making-waves-in-west-africa-who-is-he-249875

    MIL OSI – Global Reports –

  • MIL-OSI USA: Durbin: President Trump Is A Pushover For Russian President Vladimir Putin

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    February 19, 2025
    On the Senate floor, Durbin condemns President Trump’s attacks on Ukrainian President Zelenskyy
    WASHINGTON – In a speech on the Senate floor, U.S. Senate Democratic Whip Dick Durbin (D-IL) Co-Chair of the Senate Ukraine Caucus, spoke on the Senate floor condemning President Donald Trump after he publicly attacked Ukrainian President Volodymyr Zelenskyy. Further parroting a Kremlin propaganda point, President Trump also falsely claimed that Ukraine started the war against Russia.
    “Three years ago, the Russian invasion of Ukraine was not a partisan issue in the United States. Congressmen and Senators on both sides of the aisle agreed on the basic facts—Russia was waging an unprovoked, illegal war and must be stopped at all costs. And for the past three years, we have supported Ukraine with the funding it needed to beat back Russian aggression and defend the frontline of democracy in Europe. And the Ukrainian people have done just that—46,000 Ukrainian lives have been lost—46,000 defending their nation against Putin,” Durbin said. “President Trump is a pushover for Russian President Vladimir Putin, always has been and will always be. Since Trump took office, he has played right into Putin’s hands, the outrageous comments he posted today on Truth Social make that painfully clear.”
    In the post, President Trump claimed the U.S. was “duped” into spending billions to help Ukraine defend itself following Russia’s 2022 full-scale military invasion and that President Zelenskyy is a “dictator without elections.”
    “Can you believe that? An American President selling out a democratic leader bravely defending his country from an actual dictator—Putin, a former KGB apparatchik at that? It is insulting to say that. It is shameful. But from this President, it is no surprise,” Durbin continued. “President Trump is doing nothing more than parroting Kremlin propaganda and spreading lies that Putin whispers into his ear. I could call on Trump to apologize to the people of Ukraine who have suffered so much, but it would be a waste of breath. Let me be clear to President Trump, you don’t make America great by selling out our nation and allies to a Russian dictator. Most of my Republican colleagues know this… but it’s time now for them to speak up.” 
    Durbin concluded his speech by reflecting on President Abraham Lincoln in which he stated when referring to the Civil War, “Both parties deprecated war; but one of them would make war rather than let the nation survive, and the other would accept war, rather than let it perish. And the war came.”
    “Putin has made war rather than let Ukraine survive and Ukraine has had no choice but to accept war rather than see itself perish.  And President Zelenskyy and the Ukrainian people have led that noble effort with strength, fortitude, and determination. As their ally, as a fellow democracy, as a nation committed to freedom—the United States of America has an obligation to stand by Ukraine—not to appease Putin,” said Durbin.
    Video of Durbin’s remarks on the Senate floor is available here.
    Audio of Durbin’s remarks on the Senate floor is available here.
    Footage of Durbin’s remarks on the Senate floor is available here for TV Stations.
    -30-

    MIL OSI USA News –