NewzIntel.com

Category: Finance

  • MIL-OSI China: China allocates additional 140 mln yuan for flood relief in Guizhou, Hunan

    Source: People’s Republic of China – State Council News

    BEIJING, June 30 — China’s Ministry of Finance on Monday announced the allocation of an additional 140 million yuan (about 19.5 million U.S. dollars) in emergency disaster relief funds for flood-hit Guizhou and Hunan provinces.

    The new allocation follows an earlier disbursement of 160 million yuan on June 23, according to the ministry.

    Since mid-June, both provinces have experienced heavy rainfall and severe flooding. The situation is particularly serious in areas such as Rongjiang and Congjiang in Qiandongnan Miao and Dong Autonomous Prefecture of Guizhou Province, where large numbers of residents have been evacuated, and significant damage has occurred.

    Rongjiang County, widely known as the birthplace of the Village Super League, or Cun Chao, is beginning post-disaster recovery after being hit by two severe floods in less than a week. Since June 24, back-to-back floods have inundated large parts of the county, with the Cun Chao stadium, which is situated in a low-lying urban area, submerged twice within five days.

    The emergency funds will primarily support search and rescue operations, the relocation of affected residents, temporary living assistance, and reconstruction of damaged homes, the ministry said.

    The funds aim to support the affected areas in restoring daily life and economic activity as soon as possible, the ministry added.

    As China is currently in its flood season, the finance ministry said it will strengthen coordination with the Ministry of Emergency Management and other relevant departments to closely monitor developments and promptly allocate relief funds as needed to ensure disaster relief operations and protect people’s lives and property.

    MIL OSI China News –

  • MIL-OSI China: China grants 3.08B USD QDII quota in financial opening move

    Source: People’s Republic of China – State Council News

    The State Administration of Foreign Exchange has recently granted a total of 3.08 billion U.S. dollars in investment quotas to eligible Qualified Domestic Institutional Investors (QDII) to meet the demand for overseas asset allocation, it said Monday.

    The move aims to further support QDII institutions in conducting cross-border investment activities in compliance with laws and regulations. Under the premise of effectively preventing risks, it seeks to meet the reasonable overseas investment demands of domestic residents, the administration said.

    The QDII program is a key institutional arrangement for China’s financial market opening. It allows eligible domestic financial institutions to remit both RMB and foreign currencies abroad within specified quotas to invest in overseas financial markets.

    “Under the current stable and positive conditions in the foreign exchange market, granting quotas at an appropriate time can orderly meet the legitimate investment needs of market participants and contribute to the healthy development of the QDII system,” the administration said.

    The administration said that the quota allocation process comprehensively considers factors such as the asset management scale as well as internal control and compliance of QDII institutions. 

    MIL OSI China News –

  • MIL-OSI: DRC Medicine Ltd. Announces the Business Combination Agreement with Ribbon Acquisition Corp.

    Source: GlobeNewswire (MIL-OSI)

    Combined Company Expected to be Listed on NASDAQ Global Market

    • DRC Medicine Ltd. (“DRC Medicine” or the “Company”), is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges.
    • The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis.
    • Combined company to have an implied initial pro forma equity value of approximately $422.15 Million, (assuming no redemptions) and the transaction is expected to deliver cash proceeds of around $50.42 Million to DRC Medicine (assuming no redemptions) to fund DRC Medicine’s business and operations, which include devices’ clinical trial and certification.
    • Current DRC Medicine shareholders will retain 100% of their equity and will continue to own approximately 82.91% of the combined company on a pro forma basis, assuming no redemptions by Ribbon’s shareholder.

    Tokyo, June 30, 2025 (GLOBE NEWSWIRE) — DRC Medicine Ltd., an innovative healthcare and biotechnology company based in Tokyo, Japan (“DRC” or the “Company”), announced today that it has entered into a business combination agreement (the “Business Combination Agreement”) with Ribbon Acquisition Corp. (NASDAQ: RIBB) (“Ribbon”), a special purpose acquisition company, DRC Medicine Inc., a Delaware company limited by shares (DRC Medicine) and DRC Merger Inc. (“Merger Sub”), a Delaware company limited by shares and a directly owned subsidiary of DRC Medicine, which would result in DRC Medicine becoming a publicly-traded company (the “Proposed Transaction”).

    DRC Medicine Ltd. is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges. The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis. In addition to medical devices, the Company is developing a pipeline of In Vitro Diagnostic (“IVD”) kits for infectious diseases and allergen detection, combining its world-only cell-free protein synthesis technology leveraging AI powered Apps and is in final negotiation in acquiring an innovative ATP-enhancing drug for Parkinson’s disease drugs development company, the drug is currently in clinical trials. This diverse portfolio is driven by a strong focus on unmet medical needs, AI-assisted discovery, and global healthcare infrastructure transformation. For more information, visit https://drciyaku.co.jp/ and https://drciyaku.jp/.

    Dr. Marumi Okazaki, President & CEO of DRC, said: “This transaction will give us the resources that will enable us to capture the positive trends in our industry. Given the growth of airborne allergens, respiratory diseases and infectious diseases, increasing demand for better respiratory protection mask and faster and a more accurate IVD kits, we intend to invest in more IVD kits paired with AI-powered Apps in achieving universal diagnostics to empower the general public in guarding their health and fight against allergen, respiratory diseases and infectious diseases as well as catapult our research and development, production capabilities to meet the rising demand for better respiratory protection mask and AI-powered IVD kits.”

    Mr. Angshuman (Bubai) Ghosh, Chairman/CEO of Ribbon, said, “This business combination agreement with DRC is a great opportunity to enter into an exciting and accelerating growth healthcare and biotechnology industry. We believe its highly capable and experienced management team with all of the founders with substantial experience in developing innovative technologies, supported by their technology-savvy specialists and R&D team who are committed to pioneering innovations, will enable DRC to continuously innovate and advance their healthcare and biotechnology applications to gain a greater foothold in the global market.”

    Transaction Overview

    As a part of the Proposed Transaction, an intermediate holding company incorporated in Japan (the “Intermediate Co.” will acquire the shares of DRC Medicine, after which the Intermediate Co. will engage in a share exchange transaction with the  shareholders of the Company, such that the Company will become a wholly-owned subsidiary of Intermediate Co. and the shareholders of the Company will become shareholders of DRC Medicine (the “DRC Restructuring”). Following the consummation of the DRC Restructuring and subject to the terms and conditions of the Business Combination Agreement, Ribbon will merge with and into the Merger Sub, with Merger Sub continuing as the surviving company and remaining a wholly owned subsidiary of DRC Medicine.

    The Proposed Transaction implies a pre-money equity value of US$350 million of DRC on a fully diluted basis, and is expected to provide DRC with access to approximately US$50 million cash from Ribbon’s IPO proceeds held in trust, assuming no redemption by Ribbon’s shareholders in connection with the current and future proxy exercises and prior to the payment of any transaction expenses. The parties will cooperate in connection with any financing arrangement the parties seek in connection with the Proposed Transaction.

    Advisors

    A.G.P./Alliance Global Partners serves as the financial advisor and lead capital markets advisor to Ribbon. Geneva Capital Group serves as the financial advisor to DRC. Celine & Partners serves as the legal advisor to Ribbon. Ross Law Group serves as the legal advisor to DRC.

    About DRC Medicine Ltd. 

    Founded in 2007, DRC is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges. The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis . In addition to medical devices, the Company is developing a pipeline of In Vitro Diagnostic (“IVD”) kits for infectious diseases and allergen detection, combining its world-only cell-free protein synthesis technology leveraging AI powered Apps and is in final negotiation in acquiring an innovative ATP-enhancing drug for Parkinson’s disease.

    About Ribbon Acquisition Corp. 

    Ribbon is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While Ribbon intends to conduct a global search for target businesses without being limited by geographic region, certain executive officers and independent directors are based in Hong Kong, and certain executive officers have experience investing in and building businesses in the Asia Pacific region and have a deep understanding of the region’s business environment, regulations, regulatory bodies and culture. Ribbon will not undertake an initial business combination with any company being based in or having the majority of the company’s operations in Greater China. Ribbon is led by Mr. Angshuman (Bubai) Ghosh, Ribbon’s Chief Executive Officer, and Ms. Zhiyang (Anna) Zhou, Ribbon’s Chief Financial Officer.

    Important Additional Information Regarding the Transaction Will Be Filed With the SEC

    This press release relates to the proposed business combination between Ribbon Acquisition Corp. and DRC Medicine Ltd.. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. DRC intends to file a Registration Statement on Form S-4 with the SEC, which will include a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Ribbon shareholders. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Ribbon and DRC will also file other documents regarding the proposed business combination with the SEC. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF RIBBON ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

    Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Ribbon and DRC through the website maintained by the SEC at www.sec.gov. The documents filed by Ribbon and DRC with the SEC also may be obtained free of charge upon written request to Ribbon Acquisition Corp., Central Park Tower LaTour Shinjuku Room 3001, 6-15-1 Nishi Shinjuku, Shinjuku-ku Tokyo 160-0023.

    Participants in the Solicitations

    Ribbon, DRC and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from Ribbon’s shareholders in connection with the proposed business combination. You can find information about Ribbon’s directors and executive officers and their interest in Ribbon in Ribbon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was originally filed with the SEC on April 1, 2025. A list of the names of the directors, executive officers, other members of management and employees of Ribbon and DRC, as well as information regarding their interests in the business combination, will be contained in the Registration Statement on Form S-4 to be filed with the SEC by DRC. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.

    Caution About Forward-Looking Statements

    This press release may contain forward-looking statements within the meaning of section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and section 21E of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to Ribbon and DRC. These forward-looking statements are based on Ribbon’s and DRC’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of DRC’s business plans including its plans to expand, the anticipated enterprise value of the combined company following the consummation of the proposed business combination, anticipated benefits of the proposed business combination and expectations related to the terms and timing of the proposed business combination, are also forward-looking statements.

    Although each of Ribbon and DRC believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of Ribbon and DRC cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. These factors are difficult to predict accurately and may be beyond Ribbon’s and DRC’s control. In addition, there will be risks and uncertainties described in the proxy statement/prospectus on Form S-4 relating to the proposed business combination, which is expected to be filed by DRC with the SEC and other documents filed by Ribbon or DRC from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those expressed or implied in the forward-looking statements.

    There may be additional risks that neither Ribbon or DRC presently know or that Ribbon and DRC currently believe are immaterial and that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Ribbon or DRC, their respective directors, officers or employees or any other person that Ribbon and DRC will achieve their objectives and plans in any specified time frame, or at all. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Ribbon or DRC to predict these events or how they may affect Ribbon or DRC. Except as required by law, neither Ribbon nor DRC has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Ribbon’s and DRC’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against Ribbon or DRC, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of Ribbon or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of Ribbon or DRC as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; costs related to the business combination; changes in applicable laws or regulations; Ribbon’s estimates of expenditures and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; the impact of the COVID-19 pandemic; changes in laws and regulations that impact DRC; ability to enforce, protect and maintain intellectual property rights; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Ribbon’s final prospectus dated January 14, 2025 relating to its initial public offering and in subsequent filings with the SEC, including the registration statement on Form S-4 relating to the business combination expected to be filed by DRC.

    No Offer or Solicitation

    This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

    For further queries please contact:

    Geneva Capital Group on behalf of DRC

    Bob Lau, bob.lau@genevagroup.com.sg 

    The MIL Network –

  • MIL-OSI Economics: Joint Statement: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: New Development Bank

    PARIS (28 June) – The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization.

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers.

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Economics –

  • MIL-OSI Russia: Chinese authorities have allocated an additional 140 million yuan to flood-affected provinces of Guizhou and Hunan.

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, July 1 (Xinhua) — China’s Ministry of Finance said it has allocated an additional 140 million yuan (about 19.5 million U.S. dollars) to help flood-hit Guizhou Province in southwest China and Hunan Province in central China. Recall that 160 million yuan was allocated for the same purpose from the central disaster relief fund on June 23.

    Since mid-June, both provinces have been hit by prolonged rains that have caused severe flooding. The worst situation has developed in the Rongjiang and Congjiang areas of Qiandongnan-Miao-Dong Prefecture of Guizhou, where there has been a mass evacuation of residents and heavy damage.

    The allocated funds will go primarily to support search and rescue operations, housing affected residents and paying their living expenses during the transition period, as well as repairing damaged homes, the Finance Ministry reported. -0-

    MIL OSI Russia News –

  • MIL-OSI Security: TdA leader charged with terrorism and nationwide stolen vehicle scheme among those announced as part of Operation Take Back America efforts

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    HOUSTON – A total of 202 cases have been filed from June 20-26 in border-security and other related matters in the Southern District of Texas, announced U.S. Attorney Nicholas J. Ganjei.

    The filed cases include seven involving human smuggling. A total of 125 people are charged with illegally entering the country, while another 65 face charges of felony reentry after prior removal. Most of those individuals have prior felonies such as narcotics, violent crime, immigration crimes, sexual assault and more. Other relevant cases charged this week relate to immigration crimes, firearms and illegal exportation of stolen vehicles.

    Among those newly charged are two Cuban nationals allegedly involved in a nationwide multimillion-dollar auto theft ring. Sadiel Noa-Aguila and Miguel Baez-Echevarria are allegedly part of a large ring linked to numerous vehicle thefts, primarily from major metropolitan airports and surrounding areas including Las Vegas, Nevada; Phoenix, Arizona; Salt Lake City, Utah; Denver, Colorado; Fort Lauderdale, Florida; and Texas cities including Dallas-Fort Worth and Houston. Several vehicles were allegedly exported to Mexico through ports of entry in Hidalgo County and El Paso. The charges allege the organization stole vehicles worth millions of dollars in total.

    Others facing charges include several Mexican nationals who allegedly illegally reentered the country this week, including Juan Lopez who had just been removed June 2. He has a previous conviction of evading arrest and had been sentenced to 10 years in prison, according to the criminal complaint. Charges also allege Hugo Perez-Garza and Ventura De Jesus Sandoval-Torres have previous convictions for trafficking marijuana and alien smuggling, respectively, and had been previously removed, but authorities found them in the Pharr area. Discovered near Hidalgo was Jesus Jaime Saavedra-Orozco, a convicted felon for aggravated sexual assault of a child and sentenced t0 18 years before his removal, according to the allegations. They all face up to 20 years in prison. 

    Also announced this week was a known Tren de Aragua (TdA) leader added to the FBI’s 10 Most Wanted Fugitives List. Giovanni Vincente Mosquera Serrano aka El Viejo is charged along with Jose Enrique Martinez Flores aka Chuqui with conspiring to provide and providing material support to a designated foreign terrorist organization – TdA – as well as conspiracy and distribution of cocaine in Colombia intended for distribution in the United States. Both are Venezuelan nationals and high ranking TdA members, according to the allegations. If convicted, both face up to life in federal prison and a possible $10 million fine. There is a $3 million reward for information leading to Serrano’s arrest and/or conviction. 

    “Transnational criminal gangs and cartels have preyed upon Americans for far too long,” said Ganjei. “That ends now. The Southern District of Texas is committed to smashing these criminal terror groups and will use every available legal tool to do so. It doesn’t matter if you are hiding a continent away; if you hurt U.S. citizens, we will find you and bring you to justice. This is what Operation Take Back America looks like.” 

    In Laredo, a Mexican citizen with a B1/B2 visa was sentenced for transportation of child pornography. Martin Alonso Diaz-Lopez received 180 months. At the hearing, the court held him accountable for 66,489 images and noted that not only was he receiving, but also sharing the photos online and bringing them into the United States. Many of the images and videos he possessed were of very young children and toddlers being raped. Authorities had linked his email from a visa application to that of a known user sharing material online and ultimately apprehended him upon his arrival at the Lincoln-Juarez Port of Entry in Laredo applying for admission into the United States. 

    Mexican national Jesus Hernandez-Herrera received a 66 month-term of imprisonment for unlawfully reentering the country and human smuggling after crashing during a high-speed chase. He had been transporting illegal aliens in a Ford Expedition before fleeing authorities and weaving in and out of heavy traffic with speeds reaching 95 miles per hour. At his sentencing, the court heard additional evidence that described his criminal history, including another evading arrest in which he drove his car towards a federal agent and almost collided with a pedestrian. He also has five previous removals from the United States.  

    Another illegal alien learned his sentence for trafficking over $1 million in cocaine. Miguel Angel Reyes-Sanchez received 57 months in federal prison. During the investigation and operations, authorities seized over 50 kilograms of cocaine. At the sentencing, the court heard additional evidence that described Reyes-Sanchez’s role in the drug trafficking organization and that he was involved in multiple transactions.  

    In Houston, a Honduran national received his sentence for illegally reentering the United States. Denis Hernandez-Cruz was ordered to serve 60 months in federal prison. In handing down the sentence, the court noted he needed a substantial sentence to deter him from illegally reentering again. Hernandez-Cruz has felony convictions for illegal reentry as well as two convictions for burglary of a habitation. He has three prior removals from the United States, most recently in April 2020.

    Angel Zavaleta-Rodriguez, an illegal alien from El Trapiche, Guerrero, Mexico, pleaded guilty in Brownsville federal court to illegal reentry into the United States. He had been removed from the United States in August 2000 and had previously returned illegally. Authorities removed him again Nov. 13, 2023, but encountered him March 25 in Harlingen. Zavaleta-Rodriguez had been residing in Sebastian illegally. He faces up to 20 years in federal prison.  

    These cases were referred or supported by federal law enforcement partners, including Immigration and Customs Enforcement (ICE) – Homeland Security Investigations, ICE – Enforcement and Removal Operations, Border Patrol, Drug Enforcement Administration, FBI, U.S. Marshals Service and Bureau of Alcohol, Tobacco, Firearms and Explosives with additional assistance from state and local law enforcement partners.

    The cases are part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces and Project Safe Neighborhood.

    Under current leadership, public safety and a secure border are the top priorities for this district. Enhanced enforcement both at the border and in the interior of the district have yielded aliens engaged in unlawful activity or with serious criminal history, including human trafficking, sexual assault and violence against children.  

    The U.S. Attorney’s Office for the Southern District of Texas remains one of the busiest in the nation. It represents 43 counties and more than nine million people covering 44,000 square miles. Assistant U.S. Attorneys from all seven divisions including Houston, Galveston, Victoria, Corpus Christi, Brownsville, McAllen and Laredo work directly with our law enforcement partners on the federal, state and local levels to prosecute the suspected offenders of these and other federal crimes. 

    An indictment or criminal complaint is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.

    MIL Security OSI –

  • MIL-OSI Security: Western District of Texas U.S Attorney’s Office Files 253 New Immigration Cases This Week

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    SAN ANTONIO – United States Attorney Justin R. Simmons for the Western District of Texas announced today, that federal prosecutors in the district filed 253 new immigration and immigration-related criminal cases from June 20 through 26.

    Among the new cases, U.S. citizen Justin Joel Knight was arrested near Carrizo Springs on June 19 for conspiring to transport an illegal alien further into the United States. A criminal complaint alleges Knight underwent an immigration inspection at the Highway 277 Border Patrol checkpoint, during which an illegal alien was found inside the toolbox located in the bed of Knight’s pickup truck. The illegal alien who Knight was allegedly transporting was Honduran national Jose Alfredo Pena-Miranda. Pena-Miranda is charged with illegal re-entry and was previously deported twice, most recently to Honduras in May 2019 through Valley International Airport. In 2014, he was convicted of aggravated robbery and sentenced to five years confinement.

    Mexican national David Lopez-Bartolo was arrested by U. S. Border Patrol agents near Maverick for being an alien illegally present in the U.S. Immigration records indicate Lopez-Bartolo was previously deported to Mexico on Feb. 4 through Laredo and has multiple prior convictions including criminal mischief, deadly conduct, driving under the influence, evading arrest, and family violence assault causing bodily injury.

    Honduran national Rigoberto Alvarado Escobar was also arrested for illegal re-entry charges near Maverick. He has been deported four times, the last one being to Honduras on July 29, 2024, through Alexandria, Louisiana. Alvarado Escobar’s criminal history includes several convictions in Kentucky for disorderly conduct, criminal trespassing, unauthorized use of a motor vehicle, resisting arrest, assault and illegal re-entry.

    Mexican nationals Angel Arturo Barbosa-Morales and Miguel Angel Herrera Miranda were arrested in El Paso and charged with illegal re-entry. Barbosa-Morales has two prior removals, the last one being to Mexico on Aug. 11, 2022, and has prior convictions for aggravated assault and assaulting/resisting/obstructing. Herrera Miranda was previously removed from the U.S. to Mexico in July 2003. He was previously convicted for possession of a controlled substance with intent to distribute.

    Guatemalan national Juan Bautista Carrillo-Gomez was arrested for illegal re-entry in El Paso after being removed to Guatemala on May 20 through Harlingen. Carrillo-Gomez has an extensive criminal record that includes prior convictions for willful obstruction and battery.

    In San Antonio, a Honduran national was federally charged with possession of a firearm by an illegal alien. A criminal complaint alleges Wilmer Vladimir Ruiz Ortega shot and paralyzed a U.S. Marine Corps veteran who was working as a security guard at a bar. According to the complaint, the veteran security guard conducted a routine pat-down on Ruiz Ortega at the bar’s entrance when he located a pistol in the defendant’s pocket. A scuffle ensued and Ruiz Ortega allegedly shot the security guard three times, with one of the rounds hitting his neck and causing serious bodily injury. The complaint further alleges that Ruiz Ortega attempted to flee in a vehicle but was detained.

    In Austin, an Iranian national was arrested and charged with one count of failure to deport. Jamil Bahlouli had been ordered to report to the Immigration and Customs Enforcement office in 2024 following an illegal re-entry conviction. Bahlouli did not follow the order and appear but was found in Austin on June 25.

    Honduran national Abner Javier Torres-Maldonado was encountered in the Travis County Jail on Tuesday following an arrest by the Texas Department of Public Safety. In 2018, Torres-Maldonado was convicted for alien smuggling.

    Jose Luis Hernandez-Salinas, a Mexican national, was also encountered at the Travis County Jail with two prior removals. Additionally, Hernandez-Salinas has been previously convicted for being a felon in possession of a firearm, illegal re-entry, and possession of a controlled substance.

    Mexican national Hermenegildo Prado-Perez was arrested in Waco by a U.S. Marshal and a Homeland Security Investigations special agent during a targeted enforcement action. He was charged with illegal re-entry after being previously removed from the U.S. in April 2024 through Laredo. Prado-Perez has a prior conviction for soliciting prostitution of a minor.

    Also in Waco, Guatemalan national Pablo David Cajti-Tzoy was arrested in Temple on June 21 after being encountered by the U.S. Immigration and Customs Enforcement (ICE) Waco Fugitive Operations Team. Cajti-Tzoy was not in possession of his I-94 when he was encountered by ICE officers. He also failed to notify the Attorney General in writing of his new address and address change within 10 days. Cajti-Tzoy pleaded guilty in federal court on June 24 and was sentenced to time-served.

    These cases were referred or supported by federal law enforcement partners, including Homeland Security Investigations (HSI), Immigration and Customs Enforcement’s Enforcement and Removal Operations (ICE ERO), U.S. Border Patrol, the Drug Enforcement Administration (DEA), the Federal Bureau of Investigation (FBI), the U.S. Marshals Service (USMS), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), with additional assistance from state and local law enforcement partners.

    The U.S. Attorney’s Office for the Western District of Texas comprises 68 counties located in the central and western areas of Texas, encompasses nearly 93,000 square miles and an estimated population of 7.6 million people. The district includes three of the five largest cities in Texas—San Antonio, Austin and El Paso—and shares 660 miles of common border with the Republic of Mexico.

    These cases are part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    Indictments and criminal complaints are merely allegations and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    ###

    MIL Security OSI –

  • MIL-OSI Australia: Investigation of alleged incidents in childcare centres

    Source: Australian Capital Territory Policing

    30/06/25

    A public health response has been stood up as part of the investigation of alleged incidents in childcare centres.

    The Department of Health is working closely with Victoria Police and other government agencies to provide information to those impacted, as well as the wider public.

    Please, see the Investigation of alleged incidents in childcare centres websiteExternal Link for the latest information.

    MIL OSI News –

  • MIL-OSI China: China rolls out 10 percent tax credit for foreign investors reinvesting dividends

    Source: People’s Republic of China – State Council News

    China rolls out 10 percent tax credit for foreign investors reinvesting dividends

    BEIJING, June 30 — China’s finance, taxation, and commerce authorities on Monday unveiled a tax incentive granting foreign investors a 10 percent corporate income tax credit on direct domestic investments funded by dividends from Chinese resident companies.

    The measure, which takes effect from Jan. 1, 2025 through Dec. 31, 2028, allows unused credits to be carried forward and applies lower rates under existing tax treaties.

    Eligible investors may reinvest dividends in equity capital increases, new resident enterprise establishments, or acquisitions of resident enterprise shares from non-affiliated parties. The industries or sectors in which the invested enterprise operates must be listed in the Catalogue of Encouraged Industries for Foreign Investment.

    Investors can apply retroactively for qualifying reinvestments made between Jan. 1, 2025, and the policy’s announcement date.

    MIL OSI China News –

  • MIL-OSI China: China grants 3.08 bln USD QDII quota in financial opening move

    Source: People’s Republic of China – State Council News

    BEIJING, June 30 — The State Administration of Foreign Exchange has recently granted a total of 3.08 billion U.S. dollars in investment quotas to eligible Qualified Domestic Institutional Investors (QDII) to meet the demand for overseas asset allocation, it said Monday.

    The move aims to further support QDII institutions in conducting cross-border investment activities in compliance with laws and regulations. Under the premise of effectively preventing risks, it seeks to meet the reasonable overseas investment demands of domestic residents, the administration said.

    The QDII program is a key institutional arrangement for China’s financial market opening. It allows eligible domestic financial institutions to remit both RMB and foreign currencies abroad within specified quotas to invest in overseas financial markets.

    “Under the current stable and positive conditions in the foreign exchange market, granting quotas at an appropriate time can orderly meet the legitimate investment needs of market participants and contribute to the healthy development of the QDII system,” the administration said.

    The administration said that the quota allocation process comprehensively considers factors such as the asset management scale as well as internal control and compliance of QDII institutions.

    MIL OSI China News –

  • MIL-OSI China: China allocates additional 140M yuan for flood relief in Guizhou, Hunan

    Source: People’s Republic of China – State Council News

    Residents get clean water from a temporary water supply station in Longshan County, central China’s Hunan province, June 20, 2025. [Photo/Xinhua]

    China’s Ministry of Finance on Monday announced the allocation of an additional 140 million yuan (about 19.5 million U.S. dollars) in emergency disaster relief funds for flood-hit Guizhou and Hunan provinces.

    The new allocation follows an earlier disbursement of 160 million yuan on June 23, according to the ministry.

    Since mid-June, both provinces have experienced heavy rainfall and severe flooding. The situation is particularly serious in areas such as Rongjiang and Congjiang in Qiandongnan Miao and Dong Autonomous Prefecture of Guizhou province, where large numbers of residents have been evacuated, and significant damage has occurred.

    Rongjiang County, widely known as the birthplace of the Village Super League, or Cun Chao, is beginning post-disaster recovery after being hit by two severe floods in less than a week. Since June 24, back-to-back floods have inundated large parts of the county, with the Cun Chao stadium, which is situated in a low-lying urban area, submerged twice within five days.

    The emergency funds will primarily support search and rescue operations, the relocation of affected residents, temporary living assistance, and reconstruction of damaged homes, the ministry said.

    The funds aim to support the affected areas in restoring daily life and economic activity as soon as possible, the ministry added.

    As China is currently in its flood season, the finance ministry said it will strengthen coordination with the Ministry of Emergency Management and other relevant departments to closely monitor developments and promptly allocate relief funds as needed to ensure disaster relief operations and protect people’s lives and property.

    MIL OSI China News –

  • MIL-OSI China: Global investors double down on Chinese assets

    Source: People’s Republic of China – State Council News

    China’s resilient economy, robust growth potential and improving corporate profitability are fueling more optimism and renewed interest in Chinese assets among foreign investors.

    Driven by China’s advancements in technology and rising confidence in its policy support to stabilize economic growth in the second half of the year, global investors are ramping up their exposure to Chinese equities and bonds.

    Major foreign financial institutions, including United States asset manager Franklin Templeton, investment bank Goldman Sachs and Swiss bank UBS have stepped up their allocations or expressed optimism about Chinese equities, citing favorable valuations, a peak in China-US trade tensions and optimism regarding China’s artificial intelligence-led transformation.

    Market watchers and economists said that a combination of proactive fiscal measures, targeted industrial policies and accelerating technological innovation is reinforcing China’s appeal as a destination for global capital.

    According to data released on Monday by the National Bureau of Statistics, China’s factory activity gauge improved marginally in June, as the official purchasing managers index for the manufacturing sector came in at 49.7 in June, up from 49.5 in May. Notably, the PMIs for equipment manufacturing, high-tech manufacturing and the consumer products sector came in at 51.4, 50.9 and 50.4, respectively, remaining in expansion territory for two straight months.

    “The story of China now is about growth,” said Fang Dongming, head of China Global Markets at UBS.

    Foreign investors will be attracted as long as companies promise growth and profit, whether it is in technology, healthcare, new energy or new types of consumption, Fang said.

    Multibillion-dollar US fund manager Franklin Templeton has started edging back into Chinese stocks for the first time in years, with a group of its funds managing around $2 billion buying into Chinese stocks in recent weeks, Zehrid Osmani, head of the company’s Global Long-Term Unconstrained team, told Reuters recently.

    The company believes that trade tensions with the US have peaked, and that China is expected to further support its technology giants, according to Osmani.

    Economists believe that China is well-positioned to achieve its annual growth target of around 5 percent, backed by proactive fiscal policy and moderately accommodative monetary policy.

    Zhang Xiaoyan, associate dean at Tsinghua University’s PBC School of Finance, said that China’s top leadership may sharpen its focus on ensuring domestic economic stability and maintaining stable relationships with its trading partners, which would further boost the confidence of domestic and foreign investors in the Chinese economy.

    Liu Qiao, dean of Peking University’s Guanghua School of Management, said that new policy tools in the second half might include fiscal transfers or cash subsidies for low-income groups, and supportive policies to address pressure on enterprises, especially listed companies, which would improve corporate cash flow and strengthen investment appetite.

    Driven by this favorable policy environment and long-term opportunities in sectors like technology, new energy and advanced manufacturing, global asset managers are reassessing their China allocations.

    The return of global capital is reflected in broader data. According to Goldman Sachs, global active funds have increased their China equity allocations from 5 percent in late September to 6.4 percent by late April. The investment bank maintains an “increase” stance for Chinese stocks, citing improving corporate profitability, foreign capital inflows and long-term value in yuan-denominated assets.

    Fu Si, China portfolio strategist at Goldman Sachs, has forecast that the CSI 300 Index — tracking 300 heavyweight stocks in Shanghai and Shenzhen — could reach 4,600 points, about 10 percent above current levels. Similarly, the MSCI China Index, widely tracked by global investors, is expected to rise another 10 percent in the coming months, supported by its current price-to-earnings ratio of just 11.5.

    Goldman Sachs also identified artificial intelligence as a key growth driver. It estimated that AI proliferation could lift the overall profitability of Chinese stocks by 2.5 percent annually over the next decade. China’s AI breakthroughs may attract $200 billion in fresh capital into its equity market, potentially driving stock prices up 15 to 20 percent.

    Zhang Di, chief macro analyst at China Galaxy Securities, highlighted that new policy-based financial instruments are likely to be introduced soon to support economic growth.

    “That will help support the growth of infrastructure and real estate in the second half of the year. And the focus will also be placed on supporting technological innovation, consumer-related infrastructure, and key sectors such as trade-in deals for consumer goods,” he said.

    According to Nomura Orient International Securities, Chinese equities could outperform global peers in the second half of 2025. Factors include expectations of more supportive policy, improving domestic liquidity, and rising global interest in Asia-Pacific markets amid a weaker US dollar.

    Market performance so far reflects rising confidence. The Shanghai Composite Index has gained about 5.6 percent so far this year, while the CSI 300 is up over 3 percent. Meanwhile, the Hang Seng Index in Hong Kong has surged over 23 percent this year, second only to South Korea’s KOSPI, which saw a 28 percent increase.

    MIL OSI China News –

  • MIL-OSI New Zealand: Police investigating after baby critically injured, Foxton Beach

    Source: New Zealand Police

    To be attributed to Detective Senior Sergeant Michael Deegan, Central District Investigation Manager:

    Police are investigating after a 6-month-old baby was found with critical injuries at a Foxton Beach house on Sunday 29 June.

    Emergency services were called to the Seabury Avenue house at around 5.30am that day.

    The baby was initially transported to Palmerston North Hospital before being airlifted to Starship Hospital, where he remains in a critical condition.

    Police are working to establish how the baby boy came to be injured. This includes a scene examination at the Foxton Beach house, where a scene guard is currently in place.

    Seabury Avenue residents can expect to see a continued police presence in the coming days, as we conduct the scene examination and speak to neighbours as part of our enquiries.

    ENDS

    Issued by Police Media Centre. 

    MIL OSI New Zealand News –

  • MIL-OSI Security: Possession of Machine Gun While on Probation for Two Armed Robberies Nets Felon 57 Months in Prison

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

                WASHINGTON – Derkwon Johnson, 26, of the District of Columbia, was sentenced today in U.S. District Court to 57 months in prison in connection with being a felon in possession of a loaded Glock 23 equipped with a machine gun conversion device, while he was on probation for two armed robberies, an assault, and other crimes.  The sentence was announced by U.S. Attorney Jeanine Ferris Pirro.

                Johnson pleaded guilty on Jan. 29, 2025, to unlawful possession of a firearm and ammunition by a felon. In addition to the prison sentence, Judge Loren L. AliKhan ordered Johnson to serve three years of supervised release.

                According to court papers, in December 2023, MPD investigators were alerted to Johnson’s posts on Instagram depicting large clear plastic bags of a green leafy substance, a firearm, and ammunition. On Jan. 4, 2024, Officers with the Sixth District Crime Suppression Team executed a residential search warrant on Johnson’s home on the 3600 block of Minnesota Ave. SE.

                Officers entered Johnson’s apartment shortly after 6 a.m. to find six occupants – Johnson, Johnson’ half-sister, and her four small children – in a bed in a second bedroom. In the first bedroom, which was not occupied as police entered, officers recovered a .40 caliber Glock 23 pistol from the top of a piece of bedside furniture. The pistol, loaded with 28 rounds of ammunition, was equipped with a machine gun conversion device.

                Police also recovered a loaded ammunition magazine, a firearm laser attachment, addition ammunition, a bag containing 335 grams of a green leafy substance, a pill bottle containing 40 white pills stamped RP/10 325 (oxycodone), a scale, and $4,704 in cash.

                Investigators searched Johnson’s Instagram account and discovered multiple chats, videos, and messages advertising or arranging for the sale of pills and marijuana between Oct. 4, 2023, and Jan. 4, 2024.

                At the time of the January 4 arrest, Johnson was on probation for 2018 convictions in D.C. Superior Court for conspiracy to commit robbery, two counts of armed robbery, two counts of possession of a firearm during a crime of violence, possession with intent to distribute (PCP), and assault with a dangerous weapon.

                This case was investigated by the Metropolitan Police Department, the FBI Washington Field Office, and the Bureau of Alcohol, Tobacco, Firearms and Explosives. It was prosecuted by Assistant U.S. Attorney Sarah Martin.

    24cr31

    MIL Security OSI –

  • MIL-OSI: NMP Acquisition Corp. Announces Pricing of $100 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Palo Alto, California, June 30, 2025 (GLOBE NEWSWIRE) —  NMP Acquisition Corp. (the “Company”) today announced the pricing of its initial public offering of 10,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one right. Each right entitles the holder to receive one-fifth (1/5) of one Class A ordinary share upon consummation of the Company’s initial business combination. In connection with the offering, $10.00 per unit will be deposited into a trust account with Continental Stock Transfer & Trust Company acting as trustee. Up to $300,000 of interest earned on the funds held in the trust account, in the aggregate, may be released to us to fund our working capital requirements.  In addition, we may withdraw interest earned on the trust to pay our income and franchise taxes, if any. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “NMPAU” beginning on July 1, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to trade on Nasdaq under the symbols “NMP” and “NMPAR,” respectively.

    Maxim Group LLC is acting as the sole book-running manager for the offering.

    The Company has granted the underwriter a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price less the underwriting discount to cover over-allotments, if any. The offering is expected to close on July 2, 2025, subject to customary closing conditions.

    A registration statement on Form S-1 (File No. 333-286985) (the “Registration Statement”) relating to the securities to be sold in the initial public offering, as amended, was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 30, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com, or by accessing the SEC’s website, www.sec.gov.

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

    About NMP Acquisition Corp.

    NMP Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Contact Information

    NMP Acquisition Corp.
    Melanie Figueroa
    CEO
    Attn: Investor Relations
    E-mail: mailto:ir@nmpspac.com 

    The MIL Network –

  • MIL-OSI Economics: Morocco: African Development Bank approves over €300 million to improve competitiveness, strengthen resilience and create jobs

    Source: African Development Bank Group

    The Board of Directors of the African Development Bank Group has approved approximately €301 million to support Morocco’s economic resilience and drive job creation. The funding will back two key initiatives: the Entrepreneurship Support and Financing Programme for Job Creation (PAFE-Emplois) and the second phase of Economic Governance and Climate Resilience (PGRCC II).

    With €181.8 million in funding, PGRCC II aims to boost the Moroccan economy and strengthen its resilience to external shocks, particularly climate change. It will support competitiveness, private investment and economic resilience by modernizing the water and energy sectors. This programme will also contribute to consolidating Morocco’s new development model, in particular by promoting investment under the new Investment Charter.

    The PAFE-Emplois programme, backed by €119 million, will promote job creation by developing entrepreneurship and very small and medium-sized enterprises (VSEMEs). It will help establish a results-oriented culture, particularly in terms of employment impact. Its objectives are to support public support mechanisms for entrepreneurs, finance inclusive entrepreneurship, strengthen incentive mechanisms for VSEs and support innovative operational approaches to employment. This project will support the new roadmap for employment to promote job creation and entrepreneurship.

    ‘Together, these two new operations work in synergy and complement each other to strengthen their impact,’ said Achraf Tarsim, Country Manager for Morocco at the African Development Bank Group. They combine their objectives to consolidate the economy’s competitiveness, strengthen its resilience to shocks and boost investment and entrepreneurship. These are all levers for creating opportunities and jobs for young people and women. “

    For more than half a century, the African Development Bank Group has mobilised nearly €15 billion to finance more than 150 projects and programmes in the Kingdom. Its interventions cover strategic sectors such as transport, social protection, water and sanitation, energy, agriculture, governance and the financial sector.

    MIL OSI Economics –

  • MIL-OSI Economics: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: African Development Bank Group

    The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs. The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements have been signed, helping streamline the preparation and implementation of co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization. 

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration; 2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers. 

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Economics –

  • MIL-OSI Economics: African Development Bank, AIIB sign MOU renewing their collaboration on sustainable economic development for Africa

    Source: African Development Bank Group

    The African Development Bank and the Asian Infrastructure Investment Bank (AIIB) have signed an agreement strengthening their collaboration on sustainable economic development, designed to boost infrastructure development and economic opportunities across the African continent.

    The Memorandum of Understanding, which builds on an earlier one in 2018, was signed by African Development Bank president, Dr. Akinwumi Adesina, and AIIB President and Chair of the Board of Directors Jin Liqun on Saturday 28 June. The signing took place on the sidelines of a meeting of Heads of Multilateral Development Banks held in Paris, France, the same day.

    The agreement outlines continued collaboration from both parties in six priority areas, aligned with the Bank Group’s Ten-Year Strategy 2024–2033 as well as AIIB’s Corporate Strategy and its Strategy on Financing Operations in Non-Regional Members. The areas are:

    • (i) Green infrastructure
    • (ii) Industrialization
    • (iii) Private capital mobilization including Public – Private Partnerships
    • (iv) Cross-border-connectivity
    • (v) Digitalization; and
    • (vi) Policy-based financing

    The MOU will promote among other things, co-financing, co-guaranteeing and other forms of joint participation in financial assistance for development projects primarily in sustainable infrastructure. The African Development Bank and AIIB’s existing cooperation in this area, includes providing guarantees to support the issuance of Egypt’s first Sustainable Panda Bond in 2023, valued at RMB 3.5 billion.

    This historic issuance—backed by guarantees from both AfDB and AIIB—marked the first African sovereign bond placed in the Chinese interbank bond market. The guarantees provided by the two triple-A-rated multilateral banks were instrumental in de-risking the transaction, enabling Egypt to secure competitive terms and attract investor confidence.

    “This partnership continues to be an effective pathway to provide economic development for our member countries, especially in infrastructure. By reaffirming today, we are boosting energy access by accelerating Mission 300 which is targeting to connect 300 million people to electricity by 2030,” Dr Adesina said.

    Mr. Jin Liqun remarked: “The renewal of our partnership with the African Development Bank reflects AIIB’s commitment to supporting sustainable development beyond Asia. Through this collaboration, we can leverage our combined expertise to deliver transformative projects that will benefit millions across the continent and create prosperity through quality infrastructure investment.”

    About the Asian Infrastructure Investment Bank (AIIB):

    The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “infrastructure for tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.

    MIL OSI Economics –

  • MIL-OSI Russia: IMF Executive Board Completes the Second Review under the Extended Credit Facility Arrangement for Togo

    Source: IMF – News in Russian

    June 30, 2025

    • The IMF Executive Board today completed the second review under the Extended Credit Facility (ECF) arrangement for Togo, allowing the authorities to draw about SDR 44.0 million (about US$ 60.5 million). The Executive Board approved the 42-month ECF arrangement in March 2024 and concluded the first review in December 2024.
    • Growth has remained robust, and inflation has continued to slow. The medium-term economic outlook is favorable, with sustained robust growth, but elevated risks remain.
    • Implementation of the IMF-supported program has been broadly satisfactory: the authorities met all quantitative targets at end-December 2024 except for the performance criterion on the fiscal balance, and they have met all but one structural benchmark due since the completion of the first ECF review.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the second review of the Extended Credit Facility (ECF) arrangement for Togo. The Board’s decision enables the immediate disbursement of about SDR 44.0 million (about US$ 60.5 million), which will be used for budget support. The ECF-arrangement provides overall financing of SDR 293.60 million (about US$ 403.4 million) on favorable terms.

    The IMF approved the ECF arrangement in March 2024 to help the authorities address the legacies of shocks experienced since 2020, notably the COVID pandemic and the increase in global food and fuel prices. The Togolese authorities were able to lessen the impacts of these shocks on the Togolese population, but this came at the price of large fiscal deficits and a rapidly rising public debt burden. The IMF-supported government program aims to (i) make growth more inclusive while strengthening debt sustainability, and (ii) implement structural reforms to support growth and limit fiscal and financial sector risks. The IMF Executive Board completed the first ECF review in December 2024.  

    The medium-term outlook is broadly favorable, with continued robust growth. Economic growth reached an estimated 5.3 percent in 2024 and is projected at 5.2 percent in 2025 and 5.5 percent per year thereafter, according to IMF staff projections, barring major adverse shocks. Headline inflation eased to 2.6 percent in April 2025 and core inflation (which excludes the prices of energy and fresh products) fell to 1.3 percent (annual averages).

    However, the outlook is subject to high risks. In particular, insecurity from the presence of terrorist groups at the country’s northern border continues, putting pressure on spending. The authorities face challenging trade-offs between the need to achieve fiscal consolidation to lower the debt burden and the need to maintain security, enhance inclusion, and support growth.

    Implementation of the IMF-supported program has been broadly satisfactory. The authorities met all quantitative targets at end-December 2024 except for the performance criterion on the fiscal balance. A notable success has been that the authorities raised tax revenue in 2024 as planned and pushed non-tax revenue beyond expectations. At the same time, higher-than-budgeted spending pushed debt higher. The authorities also met all but one structural benchmark due since the completion of the first ECF review, thanks to public financial management and banking sector reforms.

    At the conclusion of the Executive Board’s discussion, Mr. Kenji Okamura, Deputy Managing Director, and Acting Chair, made the following statement: 

    “The authorities have implemented the IMF-supported program in an overall satisfactory manner in an environment marked by continued security challenges, tight financing conditions, and elevated global uncertainty. Among other achievements, the authorities mobilized tax revenue in line with targets, while non-tax revenue exceeded projections.

    “Nonetheless, progress on fiscal consolidation has been slower than programmed due to operations the authorities recorded below the line, resulting in faster-than-expected debt accumulation. The authorities’ efforts to address this development, in particular the publication of an innovative note on budget execution and debt accumulation, are welcome.

    “Against this background, the authorities are encouraged to redouble their efforts at fiscal consolidation while preserving growth and strengthening inclusion. The IMF approves the authorities’ request for a limited relaxation of the fiscal deficit target for 2024 and for delaying the goal of lowering the present value of debt below 55 percent of GDP by one year, to 2027. These modifications appropriately balance the need to respond to security threats against the need to strengthen debt sustainability. 

    “Further, the authorities are encouraged to continue efforts to enhance revenue while making taxation more efficient, supported by a timely elaboration of a medium-term revenue mobilization strategy. Reforms to improve the efficiency of spending and strengthen the effectiveness of the social safety net, including phasing out fuel subsidies, will also be important. Further, it will be important to strengthen electricity and water provision, including raising tariffs to ensure cost recovery in combination with measures to protect the most vulnerable.

    “The IMF welcomes the authorities’ efforts to reduce financial sector and fiscal risks by recapitalizing the remaining state-owned bank, which have boosted the bank’s compliance with regulatory norms. Further efforts will be needed to address the remaining breaches of regulatory norms and to restructure the bank’s operations to ensure its stability and profitability.

    “Finally, efforts to strengthen governance will be critical for nurturing the business environment and supporting sustainable growth. The authorities’ commitment to publishing the planned Governance Diagnostic Assessment is very welcome. The authorities should also align asset and income declarations regime with international standards.”

    Togo: Selected Economic and Financial Indicators, 2023–27
     

    2023

    2024

    2025

    2026

    2027
     

    Estimates

    Projections

    Real GDP

    5.6

    5.3

    5.2

    5.5

    5.5

    Real GDP per capita

    3.1

    2.8

    2.7

    3.0

    3.0

    GDP deflator

    2.9

    2.2

    2.0

    2.0

    2.0

    Consumer price index (annual average)

    5.3

    2.9

    2.3

    2.0

    2.0

    GDP (CFAF billions)

    5,507

    5,927

    6,360

    6,843

    7,364

    Exchange rate CFAF/US$ (annual average level)

    606

    …

    …

    …

    …

    Real effective exchange rate (appreciation = –)

    -8.2

    …

    …

    …

    …

    Terms of trade (deterioration = –)

    2.5

    -0.4

    -0.3

    0.9

    0.6
     

    Monetary survey

    		  

    Net foreign assets

    2.0

    1.3

    3.6

    2.4

    2.3

    Net credit to government

    1.2

    8.6

    2.6

    -1.3

    -0.1

    Credit to nongovernment sector

    2.9

    3.6

    1.4

    7.4

    7.0

    Broad money (M2)

    6.5

    8.5

    7.3

    7.6

    7.6

    Velocity (GDP/end-of-period M2)

    2.0

    2.0

    2.0

    2.0

    2.0
     

    Investment and savings

    		  

    Gross domestic investment

    28.0

    26.8

    25.6

    24.4

    25.3

    Government

    11.5

    10.1

    8.5

    7.1

    7.8

    Nongovernment

    16.5

    16.7

    17.1

    17.3

    17.5

    Gross national savings

    24.0

    23.7

    23.2

    23.0

    24.3

    Government

    4.8

    2.7

    4.6

    4.1

    4.8

    Nongovernment

    19.2

    20.9

    18.7

    18.8

    19.5
     

    Government budget

    		          

    Total revenue and grants

    19.8

    19.0

    18.8

    18.5

    19.0

    Revenue

    16.8

    17.0

    16.6

    17.1

    17.6

    Tax revenue

    14.8

    14.9

    15.4

    15.9

    16.4

    Expenditure and net lending

    26.6

    26.4

    22.7

    21.5

    22.0

    Expenditure and net lending (excl. banking sector operations)

    26.6

    25.4

    22.3

    21.5

    22.0

    Primary balance (commitment basis, incl. grants)

    -3.9

    -4.5

    -1.2

    -0.2

    -0.4

    Overall balance (commitment basis, incl. grants, excl. banking sector operations)

    -6.7

    -6.4

    -3.5

    -3.0

    -3.0

    Overall balance (commitment basis, incl. grants)

    -6.7

    -7.4

    -3.9

    -3.0

    -3.0

    Primary balance (cash basis, incl. grants)

    -3.9

    -4.5

    -1.2

    -0.2

    -0.4

    Overall balance (cash basis, incl. grants, excl. banking sector operations)

    -6.7

    -6.4

    -3.5

    -3.0

    -3.0

    Overall balance (cash basis, incl. grants)

    -6.7

    -7.4

    -3.9

    -3.0

    -3.0
     

    External sector

    		          

    Current account balance

    -4.0

    -3.2

    -2.3

    -1.4

    -1.0

    Exports (goods and services)

    26.3

    25.5

    25.5

    25.5

    25.7

    Imports (goods and services)

    -37.8

    -35.9

    -34.3

    -32.8

    -32.5

    External public debt1

    26.3

    30.4

    32.8

    32.1

    32.7

    External public debt service (percent of exports)1

    7.7

    10.0

    14.8

    15.0

    8.1

    Domestic public debt2

    42.3

    41.7

    37.5

    36.6

    34.3

    Total public debt3

    68.6

    72.1

    70.2

    68.7

    66.9

    Total public debt (excluding SOEs)4

    67.3

    71.2

    69.6

    68.2

    66.6

    Present value of total public debt3

    62.3

    63.2

    60.0

    57.0

    54.0

    Sources: Togolese authorities and IMF staff estimates and projections.
     

    1 Includes state-owned enterprise external debt.

    2 Includes domestic arrears and state-owned enterprise domestic debt.

    3 Includes domestic arrears and state-owned enterprise debt.

    4 Includes domestic arrears.
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/06/30/pr25229-togo-imf-completes-the-second-review-under-the-ecf-arrangement-for-togo

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Submissions: Moroccan schools are fuller thanks to cash grants. The problem now is the quality of their education – study

    Source: The Conversation – Africa – By Jules Gazeaud, Chargé de recherche CNRS, Université Clermont Auvergne (UCA)

    Reprinted by permission from VoxDev

    The spread of conditional cash transfer programmes in low- and middle-income countries has been described as perhaps the most remarkable innovation of recent decades in welfare programmes. These programmes provide regular cash transfers to poor families contingent on specific behaviours. These include school enrolment and regular attendance.

    The programmes started in the late 1990s in Mexico and quickly became the public policy of choice to fight poverty and low enrolment. Today, more than 60 countries operate education conditional cash transfer programmes, often at a national scale.

    There is plenty of evidence showing that conditional cash transfers boost enrolment. But evidence on their impacts on children’s learning is mixed. Explanations for the lack of learning gains relate to the short-term nature of the evaluations, which may not provide enough time for the learning effects to materialise.

    In recent research, conducted in Morocco, we show that conditional cash transfers can constrain learning when no accompanying measures are taken by governments to account for increased enrolment. We found that the introduction of a programme can deteriorate school quality and thus constrain learning for children who enrol in school.

    Conditional cash transfers in Morocco

    We looked at a programme implemented at scale in Morocco. Known as Tayssir, it began operating in 2008 and quickly became the flagship education policy of a government strongly committed to reducing school dropout rates.

    Earlier research showed that the pilot version of Tayssir had substantial positive effects on enrolment, but not on learning.

    Following this evaluation, Tayssir was quickly scaled-up to reach annually up to 800,000 children in 434 municipalities. Because the allocation of transfers remained remarkably stable over time, the scaled-up version of Tayssir offers an ideal setup to study how conditional cash transfer programmes affect learning, with enough time for the effects to materialise.

    Tayssir targeted all municipalities with a poverty rate above 30% and all households with children aged 6-15 within these municipalities.

    To study the impacts of the programme, we used data from the information system of Morocco’s ministry of education.

    In the first part of our analysis, we assessed Tayssir’s effects on dropout rates and checked for possible differences with the research done in 2015 on the pilot version of the scheme.

    We confirmed that the grade-specific dropout rate decreased by 1.3 percentage points on average (41% of the sample mean). This is equivalent to an increase in enrolment of about 9 percentage points by the end of grade 6.

    We found a greater decrease for girls: 1.8 percentage points, or 50% of the sample mean.

    Remarkably, these estimates were in line with those on the pilot, despite the nationwide expansion of the programme and the ten-fold increase in the number of beneficiaries.

    The impact on quality

    The reduction of the dropout rates induced by Tayssir may have affected both class size and class composition by retaining lower-ability students. This could potentially lead to negative effects on learning outcomes through peer effects and less effective teaching practices.

    Our estimates show that class size in targeted areas increased by 3.6 students by the end of primary school, equivalent to 12% of the sample mean.

    Variation in class composition increased by 0.30 standard deviations (SD) by the end of primary school.

    Figure 1 shows that these effects are stronger in higher grades. This suggests that the reduction in dropout rates accumulated over time and progressively overburdened school resources. Large effects in grade 1 likely reflect the fact that children in targeted municipalities started school earlier – possibly to benefit from the transfers – and repeated grade 1 more often.

    Figure 1: Effect of Tayssir on class size and heterogeneity

    Notes: Each bar reports the coefficient estimate of the local average treatment effects of Tayssir. The dependent variables are class size (number of students per class) and class heterogeneity (standard deviation of the GPAs within a class). 95% confidence intervals are reported.

    Larger class sizes and increased differences in class composition had negative impacts on children’s test scores.

    In the final part of our analysis, we looked at the effects on test scores at the end of primary school exam. We found that Tayssir had negative effects on test scores. We estimated that the programme reduced test scores by 0.12 standard deviation for the full sample.

    What needs to be done

    Our insights should not be interpreted as evidence that policymakers should not pursue conditional cash transfer programmes. Such programmes, including the one we study, have proven particularly effective at increasing access to education, which is a crucial first step to enhance learning.

    These programmes also have many other benefits. These include delayed marriage and childbearing for adolescent girls.

    However, our results, together with evidence showing alarmingly low literacy and numeracy levels among students in low- and middle-income countries, indicate that the attendance gains from the programmes alone are unlikely to equip students with the foundational skills they need to thrive.

    In fact, our results show that conditional cash transfer programmes can have adverse effects on learning when schools lack the necessary resources to accommodate the influx of new students. Such insights may be particularly relevant for other interventions aiming to increase school attendance without complementary investments in school capacity.

    Recent decades have seen a surge in evaluations focusing on the learning effects of education interventions in low- and middle-income countries. Although there is no silver bullet to raise learning, some “great buys” emerged from the 2023 report of the Global Education Evidence Advisory Panel:

    • providing information on the benefits, costs and quality of education;

    • supporting teachers with structured pedagogy;

    • pedagogical interventions that tailor teaching to student learning.

    In Morocco, where our study takes place, other scholars have demonstrated that an intervention combining two of these three “great buys” – targeted instruction based on learning level and structured pedagogy – yields large gains in learning.

    Claire Ricard received funding from Agence Nationale de la Recherche of the French government through the program “Investissements d’avenir” (ANR-10-LABX-14-01).

    Jules Gazeaud does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Moroccan schools are fuller thanks to cash grants. The problem now is the quality of their education – study – https://theconversation.com/moroccan-schools-are-fuller-thanks-to-cash-grants-the-problem-now-is-the-quality-of-their-education-study-243298

    MIL OSI –

  • MIL-OSI Submissions: AI policies in Africa: lessons from Ghana and Rwanda

    Source: The Conversation – Africa (2) – By Thompson Gyedu Kwarkye, Postdoctoral Researcher, University College Dublin

    Artificial intelligence (AI) is increasing productivity and pushing the boundaries of what’s possible. It powers self-driving cars, social media feeds, fraud detection and medical diagnoses. Touted as a game changer, it is projected to add nearly US$15.7 trillion to the global economy by the end of the decade.

    Africa is positioned to use this technology in several sectors. In Ghana, Kenya and South Africa, AI-led digital tools in use include drones for farm management, X-ray screening for tuberculosis diagnosis, and real-time tracking systems for packages and shipments. All these are helping to fill gaps in accessibility, efficiency and decision-making.

    However, it also introduces risks. These include biased algorithms, resource and labour exploitation, and e-waste disposal. The lack of a robust regulatory framework in many parts of the continent increases these challenges, leaving vulnerable populations exposed to exploitation. Limited public awareness and infrastructure further complicate the continent’s ability to harness AI responsibly.

    What are African countries doing about it?
    To answer this, my research mapped out what Ghana and Rwanda had in place as AI policies and investigated how these policies were developed. I looked for shared principles and differences in approach to governance and implementation.

    The research shows that AI policy development is not a neutral or technical process but a profoundly political one. Power dynamics, institutional interests and competing visions of technological futures shape AI regulation.

    I conclude from my findings that AI’s potential to bring great change in Africa is undeniable. But its benefits are not automatic. Rwanda and Ghana show that effective policy-making requires balancing innovation with equity, global standards with local needs, and state oversight with public trust.

    The question is not whether Africa can harness AI, but how and on whose terms.

    How they did it

    Rwanda’s National AI Policy emerged from consultations with local and global actors. These included the Ministry of ICT and Innovation, the Rwandan Space Agency, and NGOs like the Future Society, and the GIZ FAIR Forward. The resulting policy framework is in line with Rwanda’s goals for digital transformation, economic diversification and social development. It includes international best practices such as ethical AI, data protection, and inclusive AI adoption.

    Ghana’s Ministry of Communication, Digital Technology and Innovations conducted multi-stakeholder workshops to develop a national strategy for digital transformation and innovation. Start-ups, academics, telecom companies and public-sector institutions came together and the result is Ghana’s National Artificial Intelligence Strategy 2023–2033.

    Both countries have set up or plan to set up Responsible AI offices. This aligns with global best practices for ethical AI. Rwanda focuses on local capacity building and data sovereignty. This reflects the country’s post-genocide emphasis on national control and social cohesion. Similarly, Ghana’s proposed office focuses on accountability, though its structure is still under legislative review.

    Ghana and Rwanda have adopted globally recognised ethical principles like privacy protection, bias mitigation and human rights safeguards. Rwanda’s policy reflects Unesco’s AI ethics recommendations and Ghana emphasises “trustworthy AI”.

    Both policies frame AI as a way to reach the UN’s Sustainable Development Goals. Rwanda’s policy targets applications in healthcare, agriculture, poverty reduction and rural service delivery. Similarly, Ghana’s strategy highlights the potential to advance economic growth, environmental sustainability and inclusive digital transformation.

    Key policy differences

    Rwanda’s policy ties data control to national security. This is rooted in its traumatic history of identity-based violence. Ghana, by contrast, frames AI as a tool for attracting foreign investment rather than a safeguard against state fragility.

    The policies also differ in how they manage foreign influence. Rwanda has a “defensive” stance towards global tech powers; Ghana’s is “accommodative”. Rwanda works with partners that allow it to follow its own policy. Ghana, on the other hand, embraces partnerships, viewing them as the start of innovation.

    While Rwanda’s approach is targeted and problem-solving, Ghana’s strategy is expansive, aiming for large-scale modernisation and private-sector growth. Through state-led efforts, Rwanda focuses on using AI to solve immediate challenges such as rural healthcare access and food security. In contrast, Ghana looks at using AI more widely – in finance, transport, education and governance – to become a regional tech hub.

    Constraints and solutions

    The effectiveness of these AI policies is held back by broader systemic challenges. The US and China dominate in setting global standards, so local priorities get sidelined. For example, while Rwanda and Ghana advocate for ethical AI, it’s hard for them to hold multinational corporations accountable for breaches.

    Energy shortages further complicate large-scale AI adoption. Training models require reliable electricity – a scarce resource in many parts of the continent.

    To address these gaps, I propose the following:

    Investments in digital infrastructure, education and local start-ups to reduce dependency on foreign tech giants.

    African countries must shape international AI governance forums. They must ensure policies reflect continental realities, not just western or Chinese ones. This will include using collective bargaining power through the African Union to bring Africa’s development needs to the fore. It could also help with digital sovereignty issues and equitable access to AI technologies.

    Finally, AI policies must embed African ethical principles. These should include communal rights and post-colonial sensitivities.

    Thompson Gyedu Kwarkye does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. AI policies in Africa: lessons from Ghana and Rwanda – https://theconversation.com/ai-policies-in-africa-lessons-from-ghana-and-rwanda-253642

    MIL OSI –

  • MIL-OSI Submissions: Threatening diversity, threatening growth: the business effects of Trump’s anti-DEI and anti-trans agendas

    Source: The Conversation – France – By Matteo Winkler, Professeur associé en droit et fiscalité, HEC Paris Business School

    Recent months have seen a dramatic shift in US policies on diversity, equity, and inclusion (DEI). These changes carry deep economic consequences. President Donald Trump’s executive orders aim to ban DEI initiatives in federal agencies and contractors, and private companies have felt pressure to weaken or drop their DEI programmes. Trump has framed what was once a corporate safeguard against discrimination as “illegal and immoral”, marking a stark reversal in legal and business norms. Federal judges have blocked some of Trump’s orders, or elements of them, and some legal processes are ongoing.

    Transgender rights have become a lightning rod in this shifting landscape. The barrage of federal directives seeks to challenge – or outright eliminate – protections in areas ranging from health care to education to the military. Beyond the immediate harm to trans individuals, these policies pose threats to multinational companies that have long defended inclusive workplace values. Their leaders must now navigate a cultural minefield where staying silent risks public backlash, while openly supporting trans employees can invite legal and political complications. The business repercussions of this moral issue could affect everything from brand reputation to talent retention.


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    The economic imperative of DEI initiatives

    There is a growing ensemble of research suggesting that DEI policies are not just nice-to-have but a corporate imperative. This year, the World Economic Forum reported that organizations that include DEI in their core business strategies improve performance, innovation and employee satisfaction. These findings are in line with other studies, which have consistently demonstrated that inclusive workplaces not only attract top talent but perform better financially and have higher returns on assets and net income.

    With regard to people identifying as LGBTI+, a 2024 report by the Organization for Economic Co-operation and Development highlighted that inclusive policies enable LGBTI+ individuals to achieve their full employment and productivity potential, benefiting both their well-being and society at large. Moreover, according to Open for Business, a think tank whose mission is making a case for LGBTQ+ inclusion in private and public settings, companies with “larger LGBTQ+ workforce benefit from diverse perspectives but also foster environments where innovation and productivity thrive”. It has also been found that human rights violations against LGBTI+ people diminish economic output at the micro level, suggesting that inclusive societies are more likely to experience robust economic growth.



    À lire aussi :
    Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively

    Research has also shown that trans-inclusive business practices have long been associated with innovation, employee satisfaction and market competitiveness. Companies that provide gender-neutral bathroom access, introduce the inclusive use of pronouns and support employees’ gender transitions have been proven to foster relational authenticity in the workplace.

    Discrimination and exclusion, by contrast, not only harm individuals but also impede economic growth by limiting the available talent pool and reducing overall productivity. In September 2024, the American Civil Liberties Union (ACLU) reported that “laws and policies designed to restrict or prevent access or supports for transgender and nonbinary people” endanger LGBTQ+ individuals and their allies, leading to increased fear, lack of safety and a rise in anti-LGBTQ+ violence. More generally, these laws and policies can also deter businesses from investing in regions perceived as discriminatory. Also in September, the Movement Advancement Project identified that the lack of legal protection against discrimination contributes to economic instability for LGBTQ+ families, which can lead to wage gaps, job insecurity and reduced access to benefits, ultimately contributing to reduced consumer spending and lower economic participation.

    Language targeting trans rights and visibility

    Despite the benefits of DEI initiatives, the current US administration has sought to enact several policies aimed at dismantling them, resulting in organizations, both public and private, to suspend funding for DEI and outreach programmes. In Trump’s executive orders, anything – policy, programme or initiative – related to or benefitting trans people in access to healthcare, academic research, scientific inquiry, school policies, personal safety, participation in sports, and military service is now rejected as “gender ideology extremism”.

    Targeting sports, education and the military is functional to an ideological battle aimed at erasing spaces where trans people are most vulnerable. These spaces are also formative arenas in shaping national identity and the public perception of DEI initiatives. When they become politicized, they can also affect how businesses frame their values, manage risks and engage with their different stakeholders.



    À lire aussi :
    Anti-DEI guidance from Trump administration misinterprets the law and guts educators’ free speech rights

    The anti-trans executive orders begin by redefining the term “sex” for interpretations of federal law. According to the text of “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to Federal Government”, a person is either male or female, which is determined by their reproductive cells at conception – a definition in which biology takes precedence over individual rights and legal protections. “Keeping Men Out of Women’s Sports” weaponizes this “biological truth” by threatening to cut off federal funds to schools that allow trans athletes to participate in them. “Prioritizing Military Excellence and Readiness” equates being transgender with medical or physical incapacity despite no evidence suggesting that trans service members negatively impact military readiness. “Ending Radical Indoctrination in K-12 Schooling” seeks to prevent schools from teaching about gender identity, which would strip trans youth of critical support systems. And “Protecting Children from Chemical and Surgical Mutilation” describes gender-affirming healthcare as “destructive”.

    The ripple effects of this anti-trans rhetoric extend into the private sector, compelling businesses to reevaluate their DEI strategies in fear of backlash or scrutiny. Even before the last US presidential election, companies such as Ford, Harley-Davidson and Lowe’s withdrew their participation in the Corporate Equality Index, a national benchmarking tool on corporate policies and practices related to LGBTQ+ workplace equality. In the wake of Trump’s anti-DEI and anti-trans orders, organizers of various Pride events in the US and Canada learned that some corporations, including longtime sponsors, had decided not to fund them. And according to the New York Times, some companies erased language and terms related to DEI from annual reports filed this year, including Dow Chemical, whose reference to LGBTQ+ employee resource groups disappeared from its public documents.

    Navigating between inclusive values and anti-DEI pressure

    Three patterns seem to be emerging on how companies are navigating the tension between values that are inclusive of LGBTI+ people and the growing pressure to scrub DEI commitments within the US context. For the moment, these patterns do not reflect formalized strategies but adaptive responses to an environment that has grown in complexity in a very short time. Some corporate actions reflect deliberate strategy aimed at protecting global consistency, while others appear more reactive, shaped by local market pressures.

    The first pattern involves establishing a sort of internal firewall between US and international operations. Banco Santander provides a clear example of this approach. Thus far, it has maintained global DEI commitments such as tying executive bonuses to increased gender equality in leadership. This group stated that such targets would not be applied to countries where governmental policies target DEI. In this pattern, DEI programmes are maintained abroad but are dismantled in the US to minimize political exposure in the latter.

    The second approach, observed at accounting firm Deloitte, is a cultural split between US operations and those overseas: while entities under the same global brand may still share data, practices, or strategic frameworks internally, they now adopt publicly distinct positions on DEI. Deloitte UK has remained vocal on its DEI commitments, highlighting the cultural and political fault lines that multinationals must now navigate.

    The third approach is a retraction of DEI altogether. Target offers a striking example. In 2023, under increased political and consumer pressure, the company rolled back some of its LGBTQ+ inclusion efforts by reducing the number of Pride-related items for sale. In 2025, four days after Trump’s inauguration, Target announced it would “end its three-year DEI goals”, cease reporting to the Corporate Equality Index and “end a program focused on carrying more products from Black- or minority-owned businesses”, as reported by CNBC. The moves resulted in considerable public criticism, and more notably, coincided with a marked drop in foot traffic – “nearly 5 million fewer visits” over a four-week period – revealing reputational and financial risks associated with the abandoning of DEI policies. By contrast, bulk retailer Costco, which said three days after the inauguration that its shareholders voted against a proposal seen as unfriendly to the company’s DEI programmes, “saw nearly 7.7 million more visits” during that same stretch.



    À lire aussi :
    A boycott campaign fuels tension between Black shoppers and Black-owned brands – evoking the long struggle for ‘consumer citizenship’

    In light of the evidence, it is clear that undermining DEI initiatives poses substantial risks – not just to human dignity, but to economic competitiveness. Businesses and policymakers must recognize that DEI is not merely a social or ethical imperative but a core strategy for growth and innovation. By fostering environments where all individuals can thrive, we unlock the full potential of our workforce and ensure sustainable economic growth.

    Conversely, discriminatory policies contribute to social instability, brain drain and economic stagnation. In the United States, the rollback of DEI initiatives and the marginalization of transgender individuals threaten to erode the nation’s ability to uphold human rights and maintain business competitiveness. History demonstrates that exclusionary policies ultimately harm societies rather than strengthen them. The question remains whether the US can afford to sacrifice social stability and economic growth in pursuit of ideological battles. The evidence suggests that it cannot.

    Matteo Winkler is a member of the Open for Business Academic Committee. He has received funding from the HEC Foundation.

    Marcelle Laliberté is a member of Women in Aerospace Europe and HEC We&Men, and a contributor to the UN`s High Advisory Board on Governing AI for Humanity.

    – ref. Threatening diversity, threatening growth: the business effects of Trump’s anti-DEI and anti-trans agendas – https://theconversation.com/threatening-diversity-threatening-growth-the-business-effects-of-trumps-anti-dei-and-anti-trans-agendas-255040

    MIL OSI –

  • MIL-OSI Submissions: Why relying on technology to keep ASEAN’s coal plants running is risky

    Source: The Conversation – Indonesia – By Lay Monica, Researcher, Center of Economic and Law Studies (CELIOS)

    shutterstock

    A recent ASEAN Centre for Energy (ACE) report emphasised that to contribute in tackling climate change, ASEAN countries don’t need to immediately phase out all of their coal fleet.

    The report asserted that coal will continue to be an essential part of the energy transition. It also stated that by allowing ASEAN countries more time to improve electricity grids to accommodate more renewables could help smooth the transition to cleaner energy. Put the two together, and it strongly hinted that coal might be squeezed in to buy said time.

    In order to reduce damage from coal, ACE urged ASEAN member states to use clean coal technologies in coal-fired power plants. It also recommended to use carbon capture and storage (CCS) or carbon capture, utilisation and storage (CCUS) to replace “old, inefficient, and unabatable coal plants”.

    Interestingly, this is also a view promoted by the World Coal Association — now Future Coal – the international coal lobbying group.

    At first glance, this plan seems promising. However, relying heavily on technology oversimplifies potential risks and assumes full delivery of promises without thorough risk assessments. In this article, we provide evidence that ACE’s chosen pathway is not as good as it seems and could face significant problems in the future.

    False solution

    The first “clean coal technology” proposed by ACE – termed “high efficiency, low emissions (HELE)” – is mostly supercritical coal power plant. This means it uses less coal while producing more energy. This is why they’re claimed to be more environmentally friendly than sub-critical or “regular” coal power plants.

    But using supercritical technology doesn’t guarantee the emission problem is solved; it has varying degrees of success in reducing coal emissions.

    For example, a 2019 Australian paper found supercritical coal power plants underperformed against regular power plants with higher breakdown rates, leading to frequent electricity price spikes during 2018-2019. This was a decade after the technology was first launched in 2007.

    Failing to deliver steady electricity supplies would contradict ACE’s stated goal to prevent energy shortage and provide smoother transitions towards renewable energy.

    Risks of carbon capture

    Another technology that ACE advocates is carbon capture and storage (CCS), which captures carbon emissions from power plants and stores them underground.

    However, CCS appears to replicate past project failures. Opponents of CCS often suggest its success rate is relatively small.

    The industry claims the technology can capture 95% carbon from each project. Yet, the 2023 reports from the Institute for Energy Economics and Financial Analysis (IEEFA) found that no current project has consistently managed to capture more than 80% of carbon emissions. Some of them only succeeded in capturing 15% of carbon emissions.

    Leakage from captured carbon underground is the other risk we might bear. This will have tremendous consequences not only by netting off the so-called mitigated emissions but also by contaminating groundwater and risking communities nearby.

    According to carbon capture proponents, when done properly, the risk of leakage is minuscule. Even when it occurs, they claim it will not be catastrophic.

    However, a big enough leak is still possible. The margin of safety is very narrow: even a mere 1% leakage every ten years could pose serious consequences in the long-run, mainly rises in temperature. Keeping the “safe level of leakage rate” requires a rigorous monitoring and supervision. Therefore, the risks could be higher in developing countries like Indonesia, which has chronic problems with regulatory governance.

    Some other evidence suggests that CCS is not economically viable. One of the strongest arguments against CCS is probably the diminishing returns. As one of the leading experts in carbon capture claims:

    The closer a CCS system gets to 100% efficiency, the harder and more expensive it becomes to capture additional carbon dioxide.

    This implies potential future costs for bigger equipment, additional time, and additional energy for CCS to achieve that efficiency level.

    More importantly, chasing increasingly expensive CCS technology merely prolongs the life of coal-fired power plants, which pose significant environmental risks. The same money and effort could be used to build more renewable energy infrastructure such as wind turbines or solar panels.

    In addition to its potential high costs, captured carbon must be sold in the market – for various uses ranging for oil extraction to food preservation – to increase its economic viability.

    However, other than CO₂ conversion to fuels, there is a strictly limited usage of CO₂. Commercial use of CO₂ is less than 1% of the global CO₂ emmissions from energy usage. On the other hand, converting CO₂ back to fuels requires carbon-free energy sources.

    The conversion will also result in approximately 25-35% of energy losses. Although there have been more research on how to improve the efficiency of the process, CO₂ utilisation has yet to be scalable.

    Why the half measure?

    ACE must be wary of its reliance on technological solutions. Instead, the centre should consider a double-down on less-risky and less-capital-intensive solutions with many positive impacts, such as setting up community-based renewable energy, aggressive reforestation, or even better, significant halt of deforestation.

    Community-based renewable energy offers to help people in energy-poor areas to build their own energy sources. Moreover, people living in close geographical proximity can share costs and resources to install and maintain off grid renewables, encouraging more widespread adoption of cleaner energy sources with minimum problem of land use.

    On the other hand, in contrast to CCUS, aggressive reforestation does not require heavy machinery or specialised knowledge and skills to operate complex technology to achieve the same goals of storing emissions. Again, it is an established scientific fact that forests and soil currently store 30% of emissions. Unlike CCS that only stores emissions from sites where it is installed, forests and soil absorb atmospheric carbon emissions. Even well-planned city forests could have more capacity to effectively absorb CO2 than we thought.

    ACE can also reconsider replacing the “old, inefficient, and unabatable coal plants” with renewables, such as solar and wind, especially those for non-industrial electricity facilities. Those electricity generation costs have been falling rapidly for years.

    As most of the ASEAN member states are developing countries, they must carefully select the most suitable technologies to adopt. With limited fiscal capacity, rashly importing an advanced technology that will require substantial startup costs potentially becomes a costly effort, yielding limited benefits.

    It is puzzling why we should replace our old coal plants with new ones. It is like when we are replacing our old mobile phone with a slightly better mobile phone – instead of jumping straight to a smartphone. Why the half-measure?

    Para penulis tidak bekerja, menjadi konsultan, memiliki saham atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi di luar afiliasi akademis yang telah disebut di atas.

    – ref. Why relying on technology to keep ASEAN’s coal plants running is risky – https://theconversation.com/why-relying-on-technology-to-keep-aseans-coal-plants-running-is-risky-234918

    MIL OSI –

  • MIL-OSI Submissions: What’s the difference between an eating disorder and disordered eating?

    Source: The Conversation – Global Perspectives – By Gemma Sharp, Researcher in Body Image, Eating and Weight Disorders, Monash University

    PIKSEL/Getty

    Following a particular diet or exercising a great deal are common and even encouraged in our health and image-conscious culture. With increased awareness of food allergies and other dietary requirements, it’s also not uncommon for someone to restrict or eliminate certain foods.

    But these behaviours may also be the sign of an unhealthy relationship with food. You can have a problematic pattern of eating without being diagnosed with an eating disorder.

    So, where’s the line? What is disordered eating, and what is an eating disorder?

    What is disordered eating?

    Disordered eating describes negative attitudes and behaviours towards food and eating that can lead to a disturbed eating pattern.

    It can involve:

    • dieting

    • skipping meals

    • avoiding certain food groups

    • binge eating

    • misusing laxatives and weight-loss medications

    • inducing vomiting (sometimes known as purging)

    • exercising compulsively.

    Disordered eating is the term used when these behaviours are not frequent and/or severe enough to meet an eating disorder diagnosis.

    Not everyone who engages in these behaviours will develop an eating disorder. But disordered eating – particularly dieting – usually precedes an eating disorder.

    What is an eating disorder?

    Eating disorders are complex psychiatric illnesses that can negatively affect a person’s body, mind and social life. They’re characterised by persistent disturbances in how someone thinks, feels and behaves around eating and their bodies.

    To make a diagnosis, a qualified health professional will use a combination of standardised questionnaires, as well as more general questioning. These will determine how frequent and severe the behaviours are, and how they affect day-to-day functioning.

    Examples of clinical diagnoses include anorexia nervosa, bulimia nervosa, binge eating disorder and avoidant/restrictive food intake disorder.

    How common are eating disorders and disordered eating?

    The answer can vary quite radically depending on the study and how it defines disordered behaviours and attitudes.

    An estimated 8.4% of women and 2.2% of men will develop an eating disorder at some point in their lives. This is most common during adolescence.

    Disordered eating is also particularly common in young people with 30% of girls and 17% of boys aged 6–18 years reporting engaging in these behaviours.

    Although the research is still emerging, it appears disordered eating and eating disorders are even more common in gender diverse people.

    Can we prevent eating disorders?

    There is some evidence eating disorder prevention programs that target risk factors – such as dieting and concerns about shape and weight – can be effective to some extent in the short term.

    The issue is most of these studies last only a few months. So we can’t determine whether the people involved went on to develop an eating disorder in the longer term.

    In addition, most studies have involved girls or women in late high school and university. By this age, eating disorders have usually already emerged. So, this research cannot tell us as much about eating disorder prevention and it also neglects the wide range of people at risk of eating disorders.

    Is orthorexia an eating disorder?

    In defining the line between eating disorders and disordered eating, orthorexia nervosa is a contentious issue.

    The name literally means “proper appetite” and involves a pathological obsession with proper nutrition, characterised by a restrictive diet and rigidly avoiding foods believed to be “unhealthy” or “impure”.

    These disordered eating behaviours need to be taken seriously as they can lead to malnourishment, loss of relationships, and overall poor quality of life.

    However, orthorexia nervosa is not an official eating disorder in any diagnostic manual.

    Additionally, with the popularity of special diets (such as keto or paleo), time-restricted eating, and dietary requirements (for example, gluten-free) it can sometimes be hard to decipher when concerns about diet have become disordered, or may even be an eating disorder.

    For example, around 6% of people have a food allergy. Emerging evidence suggests they are also more likely to have restrictive types of eating disorders, such as anorexia nervosa and avoidant/restrictive food intake disorder.

    However, following a special diet such as veganism, or having a food allergy, does not automatically lead to disordered eating or an eating disorder.

    It is important to recognise people’s different motivations for eating or avoiding certain foods. For example, a vegan may restrict certain food groups due to animal rights concerns, rather than disordered eating symptoms.

    What to look out for

    If you’re concerned about your own relationship with food or that of a loved one, here are some signs to look out for:

    • preoccupation with food and food preparation

    • cutting out food groups or skipping meals entirely

    • obsession with body weight or shape

    • large fluctuations in weight

    • compulsive exercise

    • mood changes and social withdrawal.

    It’s always best to seek help early. But it is never too late to seek help.

    In Australia, if you are experiencing difficulties in your relationships with food and your body, you can contact the Butterfly Foundation’s national helpline on 1800 33 4673 (or via their online chat).

    For parents concerned their child might be developing concerning relationships with food, weight and body image, Feed Your Instinct highlights common warning signs, provides useful information about help seeking and can generate a personalised report to take to a health professional.

    Gemma Sharp receives funding from an NHMRC Investigator Grant. She is a Professor and the Founding Director and Member of the Consortium for Research in Eating Disorders, a registered charity.

    – ref. What’s the difference between an eating disorder and disordered eating? – https://theconversation.com/whats-the-difference-between-an-eating-disorder-and-disordered-eating-256787

    MIL OSI –

  • MIL-OSI United Nations: Readout of the Secretary-General’s meeting with H.E. Mr. Alar Karis, President of the Republic of Estonia

    Source: United Nations secretary general

    The Secretary-General met with H.E. Mr. Alar Karis, President of the Republic of Estonia, on the margins of the 4th International Conference on Financing for Development held in Sevilla, Spain.  The Secretary-General and the President discussed the war in Ukraine and the situation in the Middle East.

    The Secretary-General commended Estonia’s engagement with the UN to advance the international financing for development agenda.

    MIL OSI United Nations News –

  • MIL-OSI Canada: Government confirms non-taxability of Canada Carbon Rebates for Small Businesses

    Source: Government of Canada News

    June 30, 2025 – Ottawa, Ontario – Department of Finance Canada

    Canada’s new government is bringing down costs and putting more money in Canadians’ pockets.

    Today, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, issued draft legislation to ensure that all Canada Carbon Rebates for Small Businesses are provided tax-free—securing small businesses the full financial benefit of the rebates. 

    Specifically, payments received by corporations in respect of the 2019-20 to 2023-24 fuel charge years would not be included in income for tax purposes, and the final payment to be made under the Canada Carbon Rebate for Small Businesses (i.e., in respect of the 2024-25 fuel charge year) will also be tax-free.

    The government will introduce legislation in Parliament to implement these changes in the fall.

    Once the legislation receives Royal Assent, the Canada Revenue Agency (CRA) will have the authority to process amended T2 corporation income tax returns for those who have already included the rebate in their taxable income, ensuring the rebate is processed as tax-free (i.e., not included in the taxable income reported in the T2). Further guidance will be provided by the CRA at that time.

    The Government also confirms that eligible businesses that filed their 2023 tax return after July 15, 2024, and on or before December 31, 2024, will also be eligible to receive tax-free payments in respect of the 2019-20 to 2023-24 fuel charge years, once the legislation receives Royal Assent. Eligible businesses that file their 2024 income tax return by July 15, 2025, will be eligible to receive a tax-free payment in respect of the 2024-25 fuel charge year.

    Finally, with the removal of the fuel charge from law and the winding down of proceeds return mechanisms, the government will no longer proceed with proposed changes announced in the 2024 Fall Economic Statement which would have expanded eligibility for the Canada Carbon Rebate for Small Businesses to cooperative corporations and credit unions, added a minimum payment for smaller businesses, and introduced a phaseout for larger businesses.

    MIL OSI Canada News –

  • MIL-OSI: Willis Lease Finance Corporation Completes Sale of Consultancy and Advisory Arm to Joint Venture with Mitsui & Co.

    Source: GlobeNewswire (MIL-OSI)

    COCONUT CREEK, Fla., June 30, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), a leading lessor of commercial aircraft engines and global provider of aviation services, announced today the successful close of its previously reported sale of Bridgend Asset Management Limited (“BAML”), its consultancy and advisory arm, to Willis Mitsui & Co. Engine Support Limited (“WMES”), the Company’s long-standing joint venture with Mitsui & Co., Ltd. (“Mitsui”).

    After the closing, BAML will be officially renamed Willis Mitsui & Co. Asset Management Limited (“WAML”), reflecting its new position within the joint venture structure and its expanded strategic role going forward.

    This transaction strengthens the WMES platform by integrating technical consultancy and records management services into its operations, enhancing its capabilities, reach, and efficiency across aviation asset management. WMES, established in 2011 and headquartered in Dublin, now manages assets totaling approximately $380 million, a figure expected to grow with its expanded service offerings.

    “This is a milestone for WLFC and our partnership with Mitsui,” said Austin C. Willis, Chief Executive Officer of WLFC. “It is the first step towards closer collaboration and significant growth in our joint venture, WMES.”

    “With this transaction, we deepen our collaboration with WLFC and expand the scope of WMES,” shared Yuichi Nagata, General Manager of the Aerospace Business Division at Mitsui. “This positions us to better serve the growing demands of the global aviation market and solidifies the joint venture’s role as a key platform for delivering comprehensive engine-related services.”

    WLFC remains a 50% owner of WMES and will continue to leverage its services to support its leasing operations while focusing on strategic initiatives to grow its aviation portfolio.

    Willis Lease Finance Corporation

    Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.

    Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

    CONTACT: Lynn Mailliard Kohler
    Director, Global Corporate Communications
      415.328.4798

    The MIL Network –

  • MIL-OSI: Willis Lease Finance Corporation Completes Sale of Consultancy and Advisory Arm to Joint Venture with Mitsui & Co.

    Source: GlobeNewswire (MIL-OSI)

    COCONUT CREEK, Fla., June 30, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), a leading lessor of commercial aircraft engines and global provider of aviation services, announced today the successful close of its previously reported sale of Bridgend Asset Management Limited (“BAML”), its consultancy and advisory arm, to Willis Mitsui & Co. Engine Support Limited (“WMES”), the Company’s long-standing joint venture with Mitsui & Co., Ltd. (“Mitsui”).

    After the closing, BAML will be officially renamed Willis Mitsui & Co. Asset Management Limited (“WAML”), reflecting its new position within the joint venture structure and its expanded strategic role going forward.

    This transaction strengthens the WMES platform by integrating technical consultancy and records management services into its operations, enhancing its capabilities, reach, and efficiency across aviation asset management. WMES, established in 2011 and headquartered in Dublin, now manages assets totaling approximately $380 million, a figure expected to grow with its expanded service offerings.

    “This is a milestone for WLFC and our partnership with Mitsui,” said Austin C. Willis, Chief Executive Officer of WLFC. “It is the first step towards closer collaboration and significant growth in our joint venture, WMES.”

    “With this transaction, we deepen our collaboration with WLFC and expand the scope of WMES,” shared Yuichi Nagata, General Manager of the Aerospace Business Division at Mitsui. “This positions us to better serve the growing demands of the global aviation market and solidifies the joint venture’s role as a key platform for delivering comprehensive engine-related services.”

    WLFC remains a 50% owner of WMES and will continue to leverage its services to support its leasing operations while focusing on strategic initiatives to grow its aviation portfolio.

    Willis Lease Finance Corporation

    Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services. Willis Sustainable Fuels intends to develop, build and operate projects to help decarbonize aviation.

    Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

    CONTACT: Lynn Mailliard Kohler
    Director, Global Corporate Communications
      415.328.4798

    The MIL Network –

  • MIL-OSI Security: 38 Gang Members and Associates Charged in Federal Complaint as a Result of “Operation Shock Collar”

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    On June 26, 2025, upwards of 550 federal, state, and local law enforcement personnel executed 54 search warrants in the Fresno County city of Huron, and surrounding communities. Throughout the investigation, law enforcement seized firearms, ammunition, methamphetamine, heroin, and cocaine. Eighty‑nine criminal street gang members and associates were arrested and charged with crimes in federal and state court.

    The complaint, unsealed today, charges 38 members and associates of the Huron Dog Life, Coalinga Dog Life, and San Joaquin Ruthless Perro cliques of the Bulldog street gang with various drug and firearms trafficking offenses.

    Announcing the results of Operation Shock Collar today are Acting U.S. Attorney Michele Beckwith, California Attorney General Rob Bonta, FBI Special Agent in Charge Siddhartha Patel, Fresno County Sheriff John Zanoni, Fresno County District Attorney Lisa Smittcamp, and California Highway Patrol Captain (MAGEC Commander) Jon Staricka.

    “Today’s announcement reflects our Office’s commitment to using every available resource in close coordination with our law enforcement partners to address the root causes of crime and hold gang members and their associates accountable,” said Acting U.S. Attorney Beckwith. “Criminal street gangs inflict real harm on our communities by trafficking deadly drugs and firearms that destroy lives and neighborhoods. I commend the outstanding work of our agents and law enforcement partners in disrupting these criminal networks and safeguarding our communities.”

    “The charges reflect the brazen violence and drug trafficking that have threatened the safety and stability of the greater Fresno area, particularly in rural communities like Huron and Coalinga,” said Special Agent in Charge Sid Patel of the FBI Sacramento Field Office. “Yesterday’s operation was the culmination of months of collaborative work to disrupt gang-driven violence and the flow of drugs and firearms into Central Valley neighborhoods. This case highlights the power of strong partnerships at every level of law enforcement, all united in the mission to dismantle violent gangs and protect the communities we serve.”

    Fresno County Sheriff Zanoni said, “The collective work done by all law enforcement agencies in this operation will undoubtedly improve the safety and overall quality of life for residents in Fresno County, particularly those living in our smaller rural communities.”

    “This operation is a powerful example of what can be achieved when law enforcement agencies at every level work together with a shared mission: to protect our communities from violent criminal street gangs,” said Fresno County District Attorney Lisa Smittcamp. “We are determined to send a clear and unwavering message to even the most rural parts of our county—no matter where you are, gang violence and drug trafficking will not be tolerated. I commend the extraordinary efforts of all the agencies involved in this operation.”

    According to the criminal complaint, in February 2024, investigators began an investigation into the Bulldog criminal street gang operating in Fresno County with a specific focus on the ongoing criminal activities of Bulldog cliques in Huron, Coalinga, and San Joaquin. The complaint alleges an extensive criminal conspiracy in which Bulldog members and associates — some of whom were inmates in California prisons and the Fresno County Jail — orchestrated various crimes, including drug and firearms trafficking. On several occasions, members of the drug trafficking conspiracy attempted to smuggle drugs hidden inside their bodies into jails or through holes they punctured in the walls. They used contraband phones to coordinate these smuggling attempts with other gang members and associates.

    Narcotics packaged for smuggling within bodily cavities

    Narcotics packaged for smuggling through holes in jail walls

    Photo depicting hole in jail walls

    Photo depicting hole in jail wall

    This case is the product of an investigation led by the FBI, the Fresno County Multi-Agency Gang Enforcement Consortium (MAGEC), the California Department of Justice Special Operations Unit, the Fresno County Sheriff’s Office, the California Highway Patrol, and the Fresno County District Attorney’s Office, with assistance from the Bureau of Alcohol, Tobacco, Firearms and Explosives, Homeland Security Investigations, the U.S. Marshals Service, the Police Departments of Fresno, Kingsburg, Coalinga, Kerman, Firebaugh, Lemoore, Parlier, the California Department of Corrections and Rehabilitation, and the Kings County Sheriff’s Office.

    Assistant U.S. Attorneys Robert L. Veneman-Hughes, Luke Baty, and Antonio Pataca are prosecuting the case.

    The case was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi‑agency approach. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to combat illegal immigration, achieve the total elimination of cartels and transnational criminal organizations, and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from OCDETF and Project Safe Neighborhood (PSN).

    This operation is part of Summer Heat, the FBI’s nationwide initiative targeting violent crime during the summer months. As part of this effort, the FBI has launched a multi-pronged offensive to crush violent crime. By surging resources alongside state and local partners, executing federal warrants on violent criminals and fugitives, and dismantling violent gangs nationwide, we are aggressively restoring safety in our communities across the country.

    The defendants charged in the criminal complaint unsealed today are:

    Ignacio Sanchez, aka “Giddy,” 44, of Salinas Valley State Prison, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Ray Pinon, aka “Lil Ray,” 46, of Huron, is charged with distribution and possession with intent to distribute methamphetamine.

    Benny Gonzales, aka “Huero,” 51, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Ramona Felisciano, 45, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Jennifer Escobedo, 42, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Armando Alfaro, aka “Whisper,” 49, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Luis Amaro Aguilar, 31, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Carly Balboa, 24, of Hanford, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Timothy Chenot, aka “Lil Whisper,” 34, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Barbara Diaz, 55, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Susanna Garcia, 38, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Axel Guevara, aka “Action,” 18, of Coalinga, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Carlos Guillen, aka “C-Dog,” 23, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine and conspiracy to traffic in firearms.

    Gilberto Hernandez, 27, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Anthony Jeff, aka “Envy,” 46, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Victoria Lima, 44, of Clovis, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Angel Solorio Lopez, aka “Ronzo,” 18, of Coalinga, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Ricardo Lopez, aka “R-Dog,” 27, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Damien Murphy, 30, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Bridgett Murphy, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Ricardo Nunez, 22, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Laura Plascencia, aka “LP,” 46, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Gracie Pulido, 38, of Lemoore, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Daniel Loubet Romero, aka “Topo,” 44, of Huron, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Debbie Sanchez, 60, of Hanford, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Naul Sandoval, 23, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Angel Soto Rios, 42, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Rodrigo Ruvalcaba, aka “Regal,” 40, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Victor Tamayo, 47, of Fresno, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Louis Bonilla, 41, of Coalinga, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Crystal Martinez, 38, of Coalinga, is charged with conspiracy to distribute and possess with intent to distribute methamphetamine.

    Hemir Alonso Fevela Velazquez, 32, of Huron, is charged with distribution and possession with intent to distribute methamphetamine.

    Herman Vierra Jr., 41, of Fresno, is charged with being a felon in possession of a firearm.

    Servando Ayala, 30, of Coalinga, is charged with conspiracy to deal firearms without a license.

    Jose Licea, aka “T-Bird,” 35, of Huron, is charged with conspiracy to deal firearms without a license.

    Alexander Vasquez, aka “A-Dog,” 21, of Huron, is charged with conspiracy to deal firearms without a license and conspiracy to traffic in firearms.

    Brian Fornes, 22, of Huron, is charged with conspiracy to deal firearms without a license and conspiracy to traffic in firearms.

    Jesus Quesada, aka “Rojo,” 50, of Hanford, is charged with being a felon in possession of a firearm.

    If convicted, the defendants face a range of sentences from 10 years to life in prison. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

    MIL Security OSI –

  • MIL-OSI Economics: Five years already! 

    Source: – Press Release/Statement:

    Headline: Five years already! 

    The Canadian Renewable Energy Association celebrates 5th anniversary.

    Ottawa, June 30, 2025—The Canadian Renewable Energy Association (CanREA) is proud to celebrate its fifth anniversary on July 1, 2025. CanREA launched on July 1, 2020, during the global pandemic, as the merger of Canada’s wind and solar industry associations (CanWEA and CanSIA), with the important addition of energy storage to the mandate. 

    Created to provide a unified voice for solar energy, wind energy, and energy storage in Canada, CanREA has since grown to a total of more than 330 members, with seven member Networks (federal, BC, Alberta, Saskatchewan & Manitoba, Ontario, Quebec and Atlantic Canada) and three national Programs (Operators, BTM Solar & Storage, and Utility GRID Integration), as well as four successful annual Summits, nearly 30 staff members, 10 annual networking events, an ongoing series of industry webinars, and the second-largest social media community of all the Canadian trade associations in any sector. 

    “I want to thank our members for their support over the past five years, which has enabled our advocacy work and helped secure many key successes for the industry so far. This five-year milestone is an occasion to look back and see how far we have come, but more importantly, to look ahead. CanREA is committed to advancing the Canadian wind, solar and energy storage industries for the next five years, and for many more years to come,” said Vittoria Bellissimo, CanREA’s President and CEO.   

    CanREA is marking the anniversary by launching a new Awards Program, and other activities throughout the year.  

    Top 5 priorities for 2025-26  

    As we enter our new fiscal year on July 1, 2025, CanREA has defined five ambitious new strategic objectives to guide our priorities. These include: 

    Executing a comprehensive advocacy plan to effectively respond to evolving government mandates; 

    Optimizing outcomes for ongoing procurement processes in Ontario, BC and Quebec;  

    Executing on our new BTM strategy;  

    Building strategic alliances to enhance key messaging, collect information on project economics, and advocate for infrastructure and other support initiatives, including energy corridors opportunities; 

    All the while providing excellent membership value for all our members. 

    Top 10 accomplishments: Annual report card 2024-25 

    Looking back on the past year, there is a lot for CanREA—and the industry—to celebrate. Here is a recap of Top Ten accomplishments of 2024-5, starting with the most recent items: 

    Advocacy in Ontario: CanREA successfully worked to reduce barriers and improve clarity for access to agricultural land and Crown land, shaping the LT2 contracts and RFPs that were launched in late June. This is the first time in a decade the industry can bid on new wind and solar projects in Ontario!

    Advocacy in Manitoba: CanREA expanded the Saskatchewan Network to include Manitoba this year and devoted a Policy Director to this mandate. CanREA’s recommendations to Manitoba’s Minister of Finance were reflected in Manitoba Hydro’s 600 MW Call for Power for Indigenous Majority-Owned Wind, for which the Request for Expressions of Interest (REOI) was issued in June.  

    Indigenous engagement: This year, CanREA’s new Director of Indigenous Engagement led efforts to enhance Indigenous cultural awareness for the staff and Board of Directors, develop the outline for CanREA’s Indigenous Reconciliation Action Roadmap, expand the Indigenous Business Pavilion at ETC, and collaborate with Indigenous Clean Energy (ICE) to present CanREA’s Manitoba Wind Energy Indigenous Equity Summit in June.

    Advocacy in BC: CanREA expanded its presence to BC this year, with a new BC Director, a new BC Network, and a MOU with Clean Energy BC. CanREA is now working with BC Hydro to support the integration of renewables into the grid in its new Call for Power, announced in May, and its two new requests for expressions of interest relevant to energy storage, announced in June. 

    Advocacy in Quebec: CanREA successfully worked to optimize the ongoing procurement process in Quebec. One highlight: in May, Hydro-Québec launched a 300 MW solar energy tender. This milestone represents the first major solar procurement in Quebec, part of a broader objective to develop 3,000 MW of solar capacity by 2035.  

    Utilities: CanREA launched a new Utility GRID Integration program in May. Evolving from CanREA’s NRCan-funded Electricity Transition Hub, the program helps members integrate clean, affordable and reliable electricity into Canada’s power grids.    

    Go Solar Guide 2025: In March, CanREA’s new BTM Solar and Storage Program launched a new and improved edition of our annual Go Solar Guide, encouraging more Canadians to generate their own solar energy at home and work, and listing of all CanREA’s solar installer members. Now available as a web portal, the information is free and accessible to all.  

    Advocacy in Atlantic Canada: CanREA is building momentum in Atlantic Canada, enabled by a new, full-time Policy Manager based in New Brunswick. Our renewed advocacy efforts have led to policy wins across the region, including the Nova Scotia Green Choice Program RFP, which awarded 625 MW of wind in January, nearly double the original call for 350 MW. 

    ITCs: CanREA successfully advocated with the federal government to optimize and accelerate the Investment Tax Credits (ITCs) in Canada, as the Clean Tech ITC was implemented into law in the fall.

    Procurement calendar: In October, CanREA launched a new Clean Energy Procurement Calendar, which we continue to monitor and update as new procurements get announced or come online across the nation. 

    Quotes 

    “I want to thank our members for their support over the past five years, which has enabled our advocacy work and helped secure many key successes for the industry so far. This five-year milestone is an occasion to look back and see how far we have come, but more importantly, to look ahead. CanREA is committed to advancing the Canadian wind, solar and energy storage industries for the next five years, and for many more years to come.”  

    —Vittoria Bellissimo, President and CEO, Canadian Renewable Energy Association (CanREA) 

    For media inquiries or interview opportunities, please contact:  

    CommunicationsCanadian Renewable Energy Associationcommunications@renewablesassociation.ca

    About CanREA  

    The Canadian Renewable Energy Association (CanREA) is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult “Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision.” Follow us on Bluesky and LinkedIn here. Learn more at renewablesassociation.ca.   

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