Category: housing

  • MIL-OSI NGOs: An interview with Chris Chapman

    Source: Amnesty International –

    Chris Chapman is Amnesty International’s Advisor on Indigenous Peoples’ Rights. Working with communities around the world, he has seen how states continue to violate the rights of Indigenous Peoples, failing to involve them in decisions that affect them, most recently during the Covid-19 pandemic.

    Inspired by the incredible people he’s met and interviewed, and his years working in human rights, Chris has now penned a research guide on how to assess whether people have been effectively involved in decisions that affect them and been able to influence them.

    Can you tell me about your role at Amnesty and what it involves?

    I am a researcher and advisor for Indigenous Peoples’ rights. I’m currently focusing on conservation and protected areas and how they impact Indigenous Peoples. Quite often, protected areas are established on lands claimed by Indigenous Peoples. For example, on the borders of Paraguay and Brazil, an Indigenous People has been evicted to make way for a hydroelectric dam. The company has created protected nature reserves around the new borders of the river, yet the displaced Indigenous People have no right to go into those nature reserves, due to lack of consultation by governments.

    I also support people at Amnesty who are doing research on the situations of Indigenous Peoples and provide advice.

    Is there a piece of research that has had a lasting impact on you?

    I was inspired by a joint project between Amnesty’s human rights education team and our Philippines office. They worked with communities all over the Philippines, shared lots of resources on running human rights campaigns, and now they apply these to the most important and pressing issues in their communities. It’s a great example of how Amnesty can share skills and experience and empowers others.

    Another inspiring experience was working with Elias Kimaiyo, an activist and leader for the Sengwer Indigenous People in Kenya. We worked together on a report that came out in 2018. Elias never had the opportunities many of us have had but it’s not held him back. He tells the truth about what is happening to the Sengwer whether it’s to his local MP, in Nairobi, or in Geneva or Brussels. He’s also an amazing photographer and video maker. While I was writing up the research, I learnt he had been out in the field filming the Kenya Forest Service who were evicting his people from their forest. He was shot at by one of the rangers and it permanently damaged his arm. But he continues the work.

    When governments take decisions that might impact on people’s human rights, there is an obligation to consult those people and involve them meaningfully in decision-making.

    Chris Chapman

    What’s the aim of Amnesty’s new research guidelines, Public participation in decision-making ?

    Amnesty’s new guide is for researchers on how to research processes of public participation in decision-making. When governments take decisions or implement projects that might impact on people’s human rights, there is usually an obligation to consult those people and involve them meaningfully in decision-making.

    This guide provides guidance to researchers who want to research such processes to make sure the government has fully complied with its obligations. The researchers could be from NGOs like Amnesty, or academics, or people from the affected communities themselves. It’s about seeing if things are being done as they should – whether that involves consulting the public on projects such as clearing informal settlement housing, building a dam, or passing a new law which will affect a particular group of people.

    The research guide is incredibly engaging – it’s beautifully presented and packed with photographs, so hopefully it’s appealing and useful to those who want to use it. Within it, there’s a series of practical tools for researchers, such as example lists of questions which you need to ask in a particular situation. For example, if a mine or a dam is being built, there is a checklist for what information communities should receive. I really hope researchers will pick it up and use it.

    Why is the guide needed?

    When the public aren’t consulted by the government on issues that affect them, it can affect their human rights negatively. In some cases, governments just tell people what they’re going to do without listening to them. In addition, Indigenous Peoples have the right to free, prior and informed consent, which means that they should be not only consulted, but that the proposal should not go ahead against their will.

    During the pandemic, governments were scrambling to take emergency action very quickly – they closed schools and learning went online. Many Indigenous communities who live in rural areas didn’t have sufficient access to the Internet. In some cases, there weren’t enough devices for a remote connection for schooling and materials weren’t provided in specific languages.  

    Aymara indigenous women walk their children to the Ladislao Cabrera school during their first week of face to face classes, amid the COVID-19 pandemic. The children of the Machacamarca highlands town in Bolivia started face to face classes, due to the lack of means to access virtual education.

    Governments took steps to close down schools without taking into account the issues Indigenous peoples would face. They weren’t ready for these challenges and failed to adapt their policies, which led to a detrimental impact on children’s education. Their schooling effectively ended, causing a long-lasting impact.

    How does it feel to hear these stories?

    It’s really sad. Sometimes we talk about how human rights researchers get a bit blasé because they hear so many accounts and you’re exposed to human rights violations every day. But when you hear first-hand accounts, it’s obviously going to affect you and if it doesn’t, maybe it’s time to reach out for support, as it could be a sign that you’ve reached burn out.

    How could Indigenous Peoples be included in their government responses to emergencies?

    Indigenous Peoples in the Philippines have put an emergency response protocol in place, covering what the government should do when there’s an emergency. Initially designed for floods and hurricanes, it could easily be adapted for pandemics.

    The plan details what the government should do immediately after a disaster, as well as numerous initiatives that can be done immediately or staggered over time. It’s a great idea and if Indigenous Peoples have such a protocol, governments should comply with them, it would provide a starting point for knowing how to consult on pandemic responses.

    Finally, how did you get into this area of work?

    I was always interested in human rights. I was a member of a local Amnesty group in my twenties and passionate about dealing with injustices in the world. I travelled around and worked in Guatemala just as the peace accords had been signed, ending decades of civil conflict. There were people who had gone into exile and who wanted to return, or they had gone into hiding in remote places in Guatemala. They wanted to return to normal life, but they wanted international observers in their communities because they still didn’t trust the army. So I worked in a rainforest community for five months, teaching maths, and getting involved in the community’s activities – it was an incredible experience where people told me about what happened during the civil war. It was powerful and inspired me to work within the human rights field.

    MIL OSI NGO

  • MIL-OSI United Nations: 28 February 2025 Donors making a difference: community engagement to promote, provide and protect the health and well-being of all

    Source: World Health Organisation

    WHO defines community engagement as “a process of developing relationships that enable stakeholders to work together to address health-related issues and promote well-being to achieve positive health impact and outcomes”.

    WHO’s partners and donors support the Organization to work in this area as there are undeniable benefits to engaging communities in promoting health and well-being. At its core, community engagement enables changes in behaviour, environments, policies, programmes and practices within communities.

    Below are some country stories that demonstrate the breadth of community engagement work that WHO conducts, resulting in more positive health outcomes for the people in these communities than before.

    Uganda trains district health workers on community-based approach to Ebola

    Uganda trains Community Health workers from Kole, Mukono and Wakiso districts on community-based approach to Ebola. Photo by: WHO/Sadat Kamugisha 

    Uganda’s Ministry of Health conducted a training on Ebola disease detection and management for Community Health Workers representatives from Kole, Wakiso, and Mukono districts. Participants focused on multi-sectoral action to safeguard communities from emerging zoonotic diseases with pandemic potential such as Ebola.

    Communities play an integral role in raising awareness, supporting case identification, tracing contacts, and maintaining essential health services. The emphasis on collaboration with local leaders, volunteers, and health workers is vital for effective responses to public health emergencies. Building on lessons learned from past health crises, Uganda has already made substantial advancements in emergency preparedness.

    The three-day event was supported by WHO, and the UK Public Health Rapid Support Team (UK-PHRST), which is a UK aid project funded by the Department of Health and Social care. The community protection approach is a central component of WHO’s new Health emergency prevention, preparedness, response, and resilience framework.

    Visit the WHO/Uganda web page to read the full story.

    Community engagement for access to health services in Lao PDR

    CONNECT team members discuss community health priorities in Khammouane Province, Lao PDR. Photo by: WHO/Enric Catala

    Developed by the Lao Ministry of Health and Ministry of Home Affairs in response to COVID-19 with the support of WHO and partners, the CONNECT initiative enhances local governance and community engagement for equitable access to public services, particularly health.

    Supported by USAID, the Australian Government and Luxembourg, as of July 2024, CONNECT reached over 230 villages across 10 provinces (including Vientiane Capital) and support already in-place for expansion to all provinces.

    An external evaluation of implementation in 12 villages found an increase in essential service uptake for maternal health and improved attitudes towards using primary care; increased trust in health providers; increased sense of ownership of health at community level; and increased vaccination uptake and confidence, especially among ethnic groups and previously unreached communities.

    Visit the WHO/WPRO web page to read the full story.

    Côte d’Ivoire community radios boost public awareness on mpox outbreak

    Community radios, pillar of the fight against mpox. Photo by: WHO/Toiherou De Marfere Sidibe

    A network of community radio stations, known as Radio Santé, comprises 350 stations in West African, with over half based in Côte d’Ivoire. Launched in 2020 during the COVID-19 pandemic with major support from WHO, Radio Santé has become a preferred channel for disseminating reliable, verified health information. It brings together nearly 1000 journalists and communications specialists.

    Radio Santé is an interactive and accessible tool for mobilizing communities around health issues, throughout Côte d’Ivoire and across borders. Health authorities use Radio Santé to counter rumours and misinformation, and to strengthen community engagement, which is crucial to curbing the spread of diseases such as mpox.

    After WHO declared mpox as a public health emergency of international concern in August 2024, Radio Santé devoted its health talk show to mpox. 185 Ivorian community radio stations have since broadcasted messages on mpox. Over 50 programmes have been produced and broadcast in eight countries: Benin, Burkina Faso, Chad, Guinea, Mali, Niger, Senegal and Togo.

    Visit the WHO/Côte d’Ivoire web page to read the full story.

    Bolivia strengthens social participation in health for indigenous population

    Indigenous organizations are clear about their requests. They want free and equitable access to health care, an improved indigenous health network, incorporation of traditional medicine, and the consideration of the indigenous population’s culture, customs, and practices. Photo by: WHO/PAHO

    The Ministry of Health and Sports of Bolivia is engaging indigenous populations in community participation processes, creating space for them to discuss health topics, share concerns, and contribute to a health improvement plan.

    The meaningful inclusion and engagement of indigenous populations in health policy planning, taking into account the social determinants of health, is critical to ensure context-specific interventions, uptake of guidance and services, and positive health outcomes for all.

    PAHO/WHO, through the Universal Health Coverage Partnership, has supported the Ministry of Health and Sports of Bolivia in this endeavour since 2021. The UHC Partnership operates in over 125 countries, representing over 3 billion people. It is supported and funded by Belgium, Canada, the European Union, France, Germany, Ireland, Luxembourg, Japan, the United Kingdom of Great Britain and Northern Ireland, and WHO

    Visit the PAHO/AMRO web page to read the full story.

    Weaving hope in Honduras: the community wisdom that saves lives

    Maternal health in Honduras Hermelinda shares her experience. Photo by: WHO/Honduras

    In Honduras, high rates of maternal and neonatal mortality are often the result of multiple factors, including socioeconomic barriers, lack of access to adequate healthcare services, gaps in education and awareness about maternal and child health, and cultural differences.

    Hermelinda Hernández, who is familiar with the local practices and beliefs of her community and also recognizes the value of professional medical interventions, participated in the “Knowledge Dialogues Methodology” workshop organized by the Honduran Ministry of Health with the support of PAHO/WHO and funded by Global Affairs Canada.

    The workshop aimed to promote mutual understanding between midwives and healthcare providers to reach agreements that improve the health of women, and adolescent girls in situations of vulnerability within the community.

    Visit the PAHO/AMRO web page to read the full story.

    Grassroots heroes in Cambodia

    Mrs Say Sa with her Baby in Cambodia’s Principal of Health Centre Kok Chuk. Photo by: Aforative media

    In Cambodia, village chiefs stepped up to create a healthier future for their communities. In villages across 25 provinces, 2000 village chiefs and nearly 5400 village health support groups received trainings, organised by the Ministry of Heath with support from WHO and the EU.

    This equipped the chiefs with knowledge and skills necessary to control transmission of COVID-19, influenza, and other respiratory diseases, and collaborate with authorities more closely on health issues facing their communities.

    The chiefs then shared their newfound knowledge during community dialogues, which then transformed how community members adopted healthier practices. Empowered with accurate information, communities embraced protective measures during times of high COVID-19 transmission.

    Visit the WHO/WPRO web page to read the full story, and more on EU’s support to WHO in ASEAN region.

    Bolstering public awareness to help curb mpox spread in Uganda

    Dr Kenneth Kabali, WHO Field Coordinator for Busoga Sub-region sensitizes the community on mpox in Mayuge district, Eastern Uganda. Photo by: WHO/Abdu Mutwalibu Seguya

    Uganda witnessed an upsurge in mpox cases, with laboratory-confirmed cases increasing from 24 as of 21 September to 413 as of 7 November 2024. Health authorities, with support from WHO and partners, worked closely with communities to raise awareness about the dangers of the disease and how to stay safe, and address misinformation and stigma.

    The risk communication and community engagement team reached more than 100 fishmongers, fisherfolk, boda boda (motorbike taxi) riders, 8000 school children and 30 sex workers. In addition, 500 teachers in the district have been oriented on mpox.

    WHO is also using mass media to expand the reach of mpox response communication. With funding from USAID, WHO has contracted 10 regional radio stations and 2 national TV stations to raise awareness and promote preventative behaviour.

    Visit the WHO/AFRO web page to read the full story.

    Combating measles: a comprehensive community-centred approach in Ethiopia

    Combating measles, a comprehensive community-centred approach in Ethiopia. Photo by: WHO/Hassen Ali

    In the districts of Sidama, Central, and South Ethiopia, access to healthcare is often challenging, exacerbated by various health emergencies. A community-led initiative made remarkable progress in combating measles, malaria, and malnutrition through collaborative efforts between local health facilities, community health workers, and government agencies.

    The initiative received significant financial support from the European Civil Protection and Humanitarian Aid Operations (ECHO) bolstering community-based intervention efforts.

    By leveraging collaboration between healthcare facilities, community health workers, and local communities, this initiative represents a beacon of hope in improving healthcare access and outcomes in regions of Ethiopia.

    Visit the WHO/Ethiopia web page to read the full story.

    WHO races to contain malaria resurgence in southeastern Iran

    Malaria resurgence in Iran. Photo by: WHO/Iran

    A race against time is underway in southeastern Iran, where the resurgence of malaria threatens to undo years of progress. The dramatic rise in cases has been attributed to the devastating floods in neighbouring Pakistan in September 2022 which led to an expansion of malaria breeding sites.

    WHO, with crucial support from the Government of Japan, is on the ground in Sistan and Baluchestan Province, battling this public health emergency and working to protect vulnerable communities. Japan’s generous contribution provided 4902 mosquito dome tents offering families protection from infected mosquitos, 50 000 malaria rapid diagnostic tests enabling health care workers to quickly identify and treat infected individuals, and 1655 kg of insecticides, deployed to contain mosquito populations at their source. The combined resources are estimated to benefit 77 400 people in the province.

    In December 2024, a WHO mission observed a proactive approach to malaria control demonstrated by local health workers as they conducted house-to-house screenings, distributed mosquito nets and educated communities on how to use them.

    Visit the WHO/Iran web page to read the full story.

    Mali: screening for malnutrition in affected children to avoid complications

    Screening for malnutrition in affected children to avoid complications, Mali. Photo by: WHO/Razzack Saizonou

    Malnutrition among children is one of the main health problems that the affected populations of Ségou had to face after severe floods hit Mali between July and October 2024. Having lost everything including their food reserves and their means of subsistence, people found themselves in a very precarious situation.

    Among the more than 370,000 people affected by these floods, children, who represent 45% of the affected population, are particularly vulnerable. To enable access to health care, WHO, with thanks to the Central Emergency Response Fund, supported the deployment of mobile clinics on relocation sites.

    In the Ségou region, three sites were set up and equipped with medical tents. Medical staff go there five times a month. Between July and October 2024, nearly 700 children suffering from malnutrition were identified in the three health districts of the Ségou region.

    Visit the WHO/Mali web page to read the full story in French.

    Effective community engagement saving lives in Tanzania during cholera outbreak

    Abdul Zachari, a young man is washing his hands. Photo by: WHO/Clemence Eliah

    The recurrence of Cholera outbreaks has been a threat to many lives in the United Republic of Tanzania for decades now. In mid-2024, situation reports from the Ministry of Health indicated that, the outbreak have been reported in 19 regions of Tanzania Mainland. Thanks to flexible funding available for responding to outbreaks such as this, WHO has been able to support the Government’s efforts to control cholera outbreaks. Risk Communications and Community Engagement (RCCE) Experts worked on the ground delivering an intensive community sensitization in over 92 households and 32 villages . The joint and community-based action plan against Cholera outbreak was built jointly, this way enhancing 54 community members and local authorities from the affected wards and districts. The community engagement strategies adopted generate local solutions tailored to control and prevent further transmissions in these areas. In addition, WHO applied behavioral science approaches to guide tailored interventions to community protection and resilience – and as a result, enhancing many lives in Tanzania.

    Visit the WHO/Tanzania web page to read the full story.

    * * * *

    Read more about the WHO’s community engagement work.

    The donors and partners acknowledged in this story are (in alphabetical order) Australia, Belgium, Canada, the European Union (ECHO), France, Germany, Ireland, Luxembourg, Japan, the United Kingdom of Great Britain and Northern Ireland, United Nations Central Emergency Response Fund, and the USA Agency for International Development.

    WHO’s work is made possible through all contributions of our Member States and partners. WHO thanks all donor countries, governments, organizations and individuals who are contributing to the Organization’s work, with special appreciation for those who provide fully flexible contributions to maintain a strong, independent WHO.

    MIL OSI United Nations News

  • MIL-OSI Europe: ASIA/SOUTH KOREA – Fertility rate reverses trend: Church community works to restore hope

    Source: Agenzia Fides – MIL OSI

    Foto di sq lim su Unsplash

    Seoul (Agenzia Fides) – The number of newborns and the fertility rate in South Korea are bucking the trend and rising for the first time in nine years of steady decline. According to the 2024 demographic trends, data released by the Korea Institute of Statistics, the number of births last year was 238,300, 8,300 more than the previous year, representing the first increase in the number of births since 2015. The fertility rate, i.e. the number of children a woman has in her lifetime, meanwhile rose to 0.75, an increase of 0.03 compared to the previous year. However, according to the report, Korea’s fertility rate is still well below the average of 1.51 for member countries of the Organization for Economic Cooperation and Development (OECD). According to the Institute of Statistics, there are three reasons for the increase in the number of births: an increase in the population in the fertile age group, an increase in marriages that have been delayed by the pandemic, and also the beginning of a “cultural” shift in young people’s values regarding marriage. Joo Hyung-hwan, vice chairman of the government’s Low Birth Rate and Aging Society Committee, which was set up specifically to deal with these phenomena, said, “This year, the number of newborns will increase by 10,000 compared to last year, to about 250,000, and the total fertility rate will be about 0.79,” referring to the number of pregnancy and childbirth registrations received at workplaces. “The positive changes are obvious,” he said, emphasizing “that this is the result of the joint efforts of not only the government, but also companies and local authorities.” To counter the low birth rate, the government plans to expand parental leave for men, increase tax support for companies that excel in balancing work and family life, and require companies to raise awareness among their employees about work-life balance.In 2024, President Yoon Suk Yeol, currently under impeachment, proposed a new ministry to address the “national demographic crisis,” taking a more comprehensive approach that would not only focus on financial support and childcare, but also – as a broad national debate has shown – address the culture so that a balance between work and family can be found. To this end, companies would be encouraged to encourage their employees to become parents. In June 2024, the committee announced a package of “measures to reverse the trend of low birth rates.” A change in social practices and the work system could prove crucial in a country where the birth rate has fallen to the lowest in the world over the past decade.Sociologists have noted that Korean women have prioritized career advancement over marriage or parenthood, and another contributing factor has been the rising cost of housing and living and the cost of raising a child. But now, economists say, the demographic crisis has become the biggest risk to the growth of Asia’s fourth-largest economy and its social security system, as the population of 51 million could halve by the end of the century if the trend is not reversed.Father Oh Seok-jun, head of the Seoul Archdiocese Committee for Life, urged people not to view the low birth rate as “just a matter of numbers,” nor as a phenomenon that can be tackled with reproductive technologies, as some claim. It is necessary to “look at the issue from a spiritual and hopeful point of view”: “A child is a gift of grace granted by the Lord through the perfect union of love between a man and a woman. This is why the Catholic Church, in its pastoral care with young people and couples, invites them to look to the future with hope.” This is an approach that also characterizes the Holy Year under the motto “Pilgrims of Hope.” In this context, the Yeokchon-dong parish of the Archdiocese of Seoul held a “Blessing Ceremony for Families with Three or More Children” on February 23 to sensitize couples to the protection of life and to overcome the serious crisis of the low birth rate in Korea. Yuliana Kim Min-jeong, head of the family department in the parish, said: “It was good for the faithful to see how couples with three children live a life of faith and turn to the Lord in these rough times. We hope that their testimony will have a positive influence and give encouragement and hope to young couples.” At the level of mentality and social trends, a culture that tends towards individualism and questions the couple relationship must also be overcome. According to the census conducted by the Korea Statistics Institute, the percentage of single-person households in Korea exceeded 35 percent in 2023. In 2000, there were 2.2 million single-person households in the country, in 2015 there were over 5 million, and in 2023 there were 7.8 million. The Catholic Church, especially in the context of pastoral care for young adults, plays an active role in supporting those who, after entering the world of work, choose to live alone and create a “single” household: the aim is to propose to them forms of positive socialization that allow them to open up to others and develop interpersonal relationships, looking at their lives from the perspective of self-giving and not only from the perspective of self-interest. (PA) (Agenzia Fides, 28/2/2025)
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  • MIL-OSI Asia-Pac: KEYNOTE ADDRESS by the Hon. Fiame Naomi Mataafa to Official Open the Peer and Collective Learning (PCL) Talanoa (Forum) for Polynesian Organisations of Persons with Disabilities (OPDs) 2025.

    Source: Government of Western Samoa

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    17th February, 2025 @ 9:30AM – Sheraton Hotel, Apia.

    Rev Maauga Motu,

    Members of the Diplomatic Corp,

    Private Sector and Civil Society Organizations,

    Representatives of Organizations of persons with disabilities from the Polynesian Sub Region,

    President of the Nuanua o le Alofa,

    Distinguished guests,

    Ladies and gentlemen,

    Talofa lava,

    I am honored to deliver the Keynote Address as Prime Minister of the Independent State of Samoa, to officially open the Peer and Collective Learning (PCL) -Talanoa (Forum) for Polynesian Organisations of Persons with Disabilities (OPDs) 2025.

    The Government of Samoa is committed to improving the lives of persons with disabilities. We are intentional to uphold the SDG mantra of ‘Leave No One Behind’ in our national development actions, our sectoral policies, programs and practices. Since ratification in 2016, we have taken concrete steps to implement the UNCRPD through our development efforts. The National Development Plan of Samoa demonstrates commitment to safeguard persons with disabilities across its priority areas. The National Disability Policy has translated the CRPD into national action to ensure that the rights of persons with disabilities are realised through services and access to opportunities for persons with disabilities and their families.

    Some specific areas of progress are; disability disaggregated data with the Washington Group short set of questions in our 2016 and one of the first three countries in the Pacific to produce its disability monograph out of the census. Recently, in 2021, through the partnership with UN agencies and the strong leadership of Nuanua O Le Alofa (NOLA) we have implemented the cash transfer program to persons with disabilities. We acknowledge the commitment and leadership from Nuanua O Le Alofa in its advocacy in supporting and working alongside Government to make a difference to the lives of persons with disabilities and their families. Like many other countries in our Pacific, ensuring that persons with disabilities are part of National Development Plans is another top priority to Samoa.

    I am told that this week you have your ‘peer and collective learning exchange program’, a platform established by the Disability Rights Fund to support your learning and cross learning amongst organisations of persons with disabilities in the Polynesia subregion. The dialogue this week or Talanoa as the Samoan say, is constructive dialogue to enable your learning, support your growth, enable your development is also key to our indigenous way of learning. I am sure you are here to share your experiences, knowledge and discuss solutions that you can take back home, solutions to remove barriers, influence systems and processes and ensure that we as Government are inclusive of persons with disabilities and to understand your diverse needs, ensuring that NO ONE IS LEFT BEHIND in our communities.

    From a Government’s perspective, this is also an opportunity to reflect on and celebrate the diverse initiatives that Governments within our sub region have to protect, promote and ensure the rights of persons with disabilities. To engage in constructive dialogue and to contribute to national developments and nation building as key partners and beneficiaries of these developments, whether its accessing health services, employment opportunities or any other mainstream services. I am aware that the Government must ensure that specific services such as sign language, peer support, carers or personal assistances are keys to your inclusion and participation.

    I wish you well in your deliberations and learning this week. I now declare your meeting officially open.

    Soifua.

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  • MIL-OSI Asia-Pac: JOINT MEDIA RELEASE WITH SAMSUNG NEW ZEALAND – Samoa Takes a Significant Step in Tackling the E-Waste Crisis with Samsung New Zealand’s Support

    Source: Government of Western Samoa

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    [20th February 2025]- The Ministry of Natural Resources and Environment (MNRE) Samoa is pleased to announce a significant milestone in addressing Samoa’s growing e-waste issue. In partnership with Samsung Electronics New Zealand, Blue Orca, Echo, and the Samoa and Tokelau Association of Recyclers (S.T.A.R), over 12.9 tons of electronic waste (e-waste) have been successfully transported to New Zealand for responsible recycling.

    E-waste continues to be one of the largest and most challenging waste streams in Samoa, with limited options available for safe disposal and recycling. The collaboration between MNRE, Samsung New Zealand, and other key partners marks a major step in addressing the environmental threat posed by e-waste, which contains toxic metals that can severely affect our natural ecosystems.

    Under the Moana Taka Partnership initiative with Swire Shipping, 12,911 kg of e-waste were collected and shipped to New Zealand, where they will be recycled responsibly. This initiative prevented 76.35 kg of toxic metals from contaminating the soil and reduced greenhouse gas emissions by 3,702 kg, providing significant environmental and community benefits.

    Samoa’s participation in this program follows a 2024 assessment conducted by Blue Orca, which highlighted the limited local recycling infrastructure across the Pacific Islands. The findings emphasized the need for greater action in managing e-waste responsibly, as the region faces mounting environmental pressures.

    “The initiative led by Samsung New Zealand and their partners is a crucial step in protecting Samoa’s environment. With e-waste being one of our most significant waste streams, this partnership plays an essential role in ensuring that we handle electronic waste in a responsible and sustainable way”

    This is the message from the Waste Management and Pollution Control Division of the MNRE. Furthermore, the Ministry is committed to working with all stakeholders to create solutions that reduce waste and promote sustainability across the nation.

    The program also aligns with MNRE’s ongoing efforts to address waste management and environmental protection in the Pacific Islands. It complements the Ministry’s broader strategy to minimize harmful waste, raise awareness on environmental conservation, and foster regional cooperation on sustainability issues.

    Samsung New Zealand’s commitment to sustainability, alongside its ongoing collaboration with local organizations like Echo, has already seen the successful recycling of over 73 tonnes of e- waste in New Zealand through collection drives and awareness campaigns.

    “We are proud of our ongoing partnership with MNRE Samoa and local stakeholders like S.T.A.R., who play an integral role in this initiative,” said Shannon Watts, Marketing Director for Samsung Electronics New Zealand. “Together, we are taking tangible steps toward mitigating the environmental impact of e-waste in Samoa and the broader Pacific region.”

    The Ministry encourages the public to continue supporting these efforts by responsibly disposing of their electronic waste and participating in future recycling programs. As we move forward, MNRE Samoa will continue to work closely with international and local partners to strengthen Samoa’s waste management infrastructure and foster a more sustainable future for all Samoans.

    E-Waste Collection Breakdown:

    Samoa:

    • 12,911 kg of e-waste collected

    • 3,702.8 kg of greenhouse gas emissions avoided

    • 76.35 kg of toxic metals diverted from landfill

    ENDS

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  • MIL-OSI: OTC Markets Group Welcomes White Pearl Technology Group AB to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 28, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced White Pearl Technology Group AB (Nasdaq First North Growth Market Stockholm: WPTG; OTCQX: WPTGF), a global technology company specialising in digital transformation solutions, has qualified to trade on the OTCQX® Best Market.

    White Pearl Technology Group AB begins trading today on OTCQX under the symbol “WPTGF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

    Marco Marangoni, CEO of White Pearl Technology Group, commented: “We are thrilled to begin trading on OTCQX, which represents an important milestone in our growth strategy. This opportunity enhances our visibility within the U.S. investment community and provides a convenient way for North American investors to trade our shares in their local market and currency. As we continue to expand our global footprint, particularly with our strategic focus on the North American market, trading on OTCQX will support our efforts to diversify our shareholder base and increase our international presence.”

    About White Pearl Technology Group AB
    White Pearl Technology Group AB (WPTG) is a global technology company specializing in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

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    The MIL Network

  • MIL-OSI: Boralex reports net earnings of $74 million for fiscal 2024 and continues construction of its large-scale projects in Québec, Ontario and the United Kingdom

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, Feb. 28, 2025 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Corporation”) (TSX: BLX) is pleased to report its results for the three-month period and year ended December 31, 2024.

    Highlights
    Financial results

    • EBITDA(A)1, operating income and net earnings under pressure in Q4-2024 owing to adverse wind and hydropower conditions
      • Production 16% (11% on a Combined1 basis)2 lower than in Q4-2023 and 16% (12%) below anticipated production1, due primarily to the adverse climate conditions. For fiscal 2024 overall, production was 5% (2%) lower than in 2023 and 10% (8%) below anticipated production.
      • EBITDA(A) of $169 million ($191 million) for Q4-2024, down $33 million ($38 million) from Q4-2023. For fiscal 2024, EBITDA(A) was $581 million ($670 million), up $3 million (down $5 million) from 2023. The decrease in production was partly offset by the contribution of newly commissioned sites in France and the positive impact of the electricity selling price optimization strategy.
      • Operating income of $78 million ($53 million) for Q4-2024, down $20 million ($66 million) from Q4-2023. For fiscal 2024, operating income totalled $226 million ($267 million), unchanged (down $39 million) from 2023.
      • Net loss of $2 million in Q4-2024, down $60 million from T4-2023. For fiscal 2024, net earnings amounted to $74 million, $41 million lower than in 2023. Excluding the impairment of an asset, net earnings would have been $6 million higher in fiscal 2024 compared to fiscal 2023.
    • Lower cash flow related to operating activities for the quarter but balance sheet remains strong
      • Net cash flows related to operating activities of $31 million for Q4-2024 and $215 million for fiscal 2024, compared to $107 million for Q4-2023 and $496 million for fiscal 2023.
      • Discretionary cash flows1 of $47 million for Q4-2024 and $158 million for fiscal 2024, down $44 million from Q4-2023 and $26 million from fiscal 2023.
      • Boralex has $592 million in cash and cash equivalents and $523 million in available cash resources and authorized financing1 as at December 31, 2024.
      • A record of nearly $1.2 billion in project financing, bridge financing and letter of credit facilities obtained in 2024.

    Update on development and construction activities

    • Portfolio of projects under development and growth path totalling 8,005 MW in the high growth potential markets of Canada, the United States, the United Kingdom and France, 1,227 MW or 18% higher than in 2023
    • Progress in under-construction and ready-to-build projects
      • Start of electrification of the Limekiln wind farm in the United Kingdom (106 MW) in February 2025, with full commissioning planned for early April, and work continues on the Apuiat wind farm in Quebec (total 200 MW, Boralex’s share 100 MW), with commissioning planned for the first half of 2025.
      • Construction of the Hagersville (300 MW) and Tilbury (80 MW) storage projects in Ontario progressing on schedule, with commissioning planned for the fourth quarter of 2025. Financings closed in December 2024.
      • Start of work on the Des Neiges Sud wind project in Quebec (total 400 MW, Boralex’s share 133 MW), with commissioning scheduled for 2026.
    • Acquisition of the Clashindarroch Wind Farm Extension project in the United Kingdom, with an installed capacity of 145 MW, and the adjacent battery energy storage system (BESS) with a maximum capacity of 50 MW, for a total capacity of 195 MW. Boralex has a 50% interest, but has control over the project and will fully consolidate the results in the financial statements.
    1 EBITDA(A) is a total of segment measures. Anticipated production is an additional financial measure. “Combined,” “discretionary cash flows” and “available cash resources and authorized financing” are non-GAAP financial measures and do not have a standardized definition under IFRS. Consequently, these measures may not be comparable to similar measures used by other companies. For more details, see the Non-IFRS financial measures and other financial measures section of this press release.
    2 Figures in brackets indicate results on a Combined basis as opposed to a Consolidated basis.
       

    “The year 2024 proved to be full of challenges, which our employees met head-on. I would highlight in particular the significant effort our team invested in 2024 to secure nearly $1.2 billion in financing, a record for Boralex, on very good terms. Despite high volatility in the financial markets and pressure on the stock prices of renewable energy companies, notably in the wake of the American elections, we are convinced that renewable energy development will continue in many regions. Strong growth in electricity demand is expected in the regions where we are developing wind and solar farms and battery storage systems, namely Canada, the United Kingdom, the United States and France,” said Patrick Decostre, President and Chief Executive Officer of Boralex.

    Renewable energy, which is the most competitive type of energy, can be brought on line to meet demand much faster than other types of energy. Boralex is in a position to capitalize on its project pipeline and growth path, which now represent more than 8 GW of power, and will continue to develop key projects with rates of return in line with its targets.

    “Boralex saw its financial results decline in fiscal 2024, mainly as a result of adverse wind conditions in France and to a lesser extent in Canada, as well as impairment of an asset. During the year, we continued to implement our various initiatives aimed at optimizing administrative, financial and development costs. We ended our 2024 financial year with net earnings of $74 million, a strong balance sheet and good financial flexibility, with over $500 million in available cash resources and authorized financing,” Mr. Decostre added.

    Boralex continues to excel on the corporate social responsibility front. In 2024, the Corporation announced that it was one of the few in the industry to have had its greenhouse gas emission reduction targets validated by the Science Based Targets initiative (SBTi). This recognition shows Boralex’s commitment to achieving net zero emissions by 2050. In addition, Boralex ranked 94th out of the 215 S&P/TSX Composite Index companies and trusts analysed as part of The Board Games, with a score of 80/100, while in 2023 it was 102nd with a score of 76. Finally, Boralex placed 15th in the ranking of Canada’s 50 best corporate citizens, out of the 340 leading Canadian organizations analysed.

    4th quarter highlights

    Three-month periods ended December 31

      Consolidated Combined
    (in millions of Canadian dollars, unless otherwise specified)   2024     2023 Change   2024     2023 Change
            $   %           $   %  
    Power production (GWh)1   1,520     1,814   (294 ) (16 )   2,099     2,351   (252 ) (11 )
    Revenues from energy sales and feed-in premium   228     315   (87 ) (28 )   258     345   (87 ) (25 )
    Operating income   78     98   (20 ) (21 )   53     119   (66 ) (55 )
    EBITDA(A)   169     202   (33 ) (17 )   191     229   (38 ) (17 )
    Net earnings (loss)   (2 )   58   (60 ) >(100   (2 )   58   (60 ) >(100 )
    Net earnings (loss) attributable to shareholders of Boralex   (16 )   37   (53 ) >(100   (16 )   37   (53 ) >(100 )
    Per share – basic and diluted   ($0.15 ) $0.36   ($0.51 ) >(100   ($0.15 ) $0.36   ($0.51 ) >(100 )
    Net cash flows related to operating activities   31     107   (76 ) (71 )            
    Cash flows from operations2   105     161   (56 ) (35 )            
    Discretionary cash flows   47     91   (44 ) (48 )            
                                             

    In the fourth quarter of 2024, Boralex produced 1,520 GWh (2,099 GWh) of power, 16% (11%) less than the 1,814 GWh (2,351 GWh) produced in the same quarter of 2023. The decrease was mainly attributable to adverse weather conditions. As a result, Boralex ended the quarter with total production that was 16% (12%) below anticipated production.

    Revenues from energy sales and feed-in premiums for the three-month period ended December 31, 2024, amounted to $228 million ($258 million), 28% (25%) lower than in the fourth quarter of 2023. The decrease was mainly attributable to the lower production. EBITDA(A) amounted to $169 million ($191 million), down 17% (17%) from the fourth quarter of 2023. The decline in production was partly offset by the contribution of new assets commissioned in France and the positive impact of the electricity selling price optimization strategy. Operating income totalled $78 million ($53 million), compared to $98 million ($119 million) for the same quarter of 2023. The Company posted a net loss of $2 million, which represents a $60 million decrease from the $58 million in net earnings reported for the fourth quarter of 2023.

    1 Power production includes the production for which Boralex received financial compensation following power generation limitations as management uses this measure to evaluate the Corporation’s performance. This adjustment facilitates the correlation between power production and revenues from energy sales and feed-in premium.
    2 The cash flows from operations is a non-GAAP financial measure and does not have a standardized meaning under IFRS. Accordingly, it may not be comparable to similarly named measures used by other companies. For more details, see the Non-IFRS and other financial measures section of this press release.
       

    Years ended December 31

      Consolidated Combined

    (in millions of Canadian dollars, unless otherwise specified)

      2024   2023 Change   2024   2023 Change
            $   %           $   %  
    Power production (GWh)1   5,691   5,973   (282 ) (5 )   7,845   8,020   (175 ) (2 )
    Revenues from energy sales and feed-in premium   817   994   (177 ) (18 )   933   1,104   (171 ) (15 )
    Operating income   226   226         267   306   (39 ) (12 )
    EBITDA(A)   581   578   3       670   675   (5 ) (1 )
    Net earnings   74   115   (41 ) (35 )   74   115   (41 ) (35 )
    Net earnings attributable to shareholders of Boralex   36   78   (42 ) (54 )   36   78   (42 ) (54 )
    Per share – basic and diluted $0.35 $0.76 ($0.41 ) (54 ) $0.35 $0.76 ($0.41 ) (54 )
    Net cash flows related to operating activities   215   496   (281 ) (57 )          
    Cash flows from operations   415   445   (30 ) (7 )          
    Discretionary cash flows   158   184   (26 ) (14 )          
      As at
    Dec. 31
    As at
    Dec. 31
    Change As at
    Dec. 31
    As at
    Dec. 31
    Change
            $   %           $   %  
    Total assets   7,604   6,574   1,030   16     8,476   7,304   1,172   16  
    Debt – principal balance   4,032   3,327   705   21     4,588   3,764   824   22  
    Total project debt   3,608   2,844   764   27     4,166   3,281   885   27  
    Total corporate debt   424   483   (59 ) (12 )   424   483   (59 ) (12 )
                                         

    For the year ended December 31, 2024, Boralex produced 5,691 GWh (7,845 GWh) of power, less than the 5,973 GWh (8,020 GWh) produced during the same period in 2023. Revenues from energy sales and feed-in premiums for the financial year ended December 31, 2024, amounted to $817 million ($933 million), down $177 million ($171 million) or 18% (15%) from the same period in 2023.

    EBITDA(A) amounted to $581 million ($670 million), up $3 million (down $5 million) from the same period last year. Operating income totalled $226 million ($267 million), essentially unchanged (down $39 million) from the same period in 2023. Overall, Boralex posted net earnings of $74 million ($74 million) for the financial year ended December 31, 2024, compared to $115 million ($115 million) for fiscal 2023.

    1 Power production includes the production for which Boralex received financial compensation following power generation limitations imposed by its customers since management uses this measure to evaluate the Corporation’s performance. This adjustment facilitates the correlation between power production and revenues from energy sales and feed-in premiums.
       

    Outlook

    Boralex’s 2025 Strategic Plan is built around the same four strategic directions as the plan launched in 2019 – growth, diversification, customers and optimization – and six corporate targets. The details of the plan, which also sets out Boralex’s corporate social responsibility strategy, are found in the Corporation’s annual report. Highlights of the main achievements for the 2024 financial year in relation to the 2025 Strategic Plan can be found in the 2024 Annual Report, in the Investors section of the Boralex website.

    In the coming quarters, Boralex will continue to work on its various initiatives under the strategic plan, including project development, analysis of acquisition targets and optimization of power sales and operating costs. The Corporation will present a new plan for the period to 2030 during the course of 2025.

    Finally, to fuel its organic growth, the Corporation has a portfolio of projects under development and growth path based on clearly identified criteria, totalling more than 8 GW of wind, solar and energy storage projects.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3.1 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

    For more information, visit www.boralex.com or www.sedarplus.ca. Follow us on Facebook and LinkedIn.

    Non-IFRS measures
    Performance measures

    In order to assess the performance of its assets and reporting segments, Boralex uses performance measures. Management believes that these measures are widely accepted financial indicators used by investors to assess the operational performance of a company and its ability to generate cash through operations. The non-IFRS and other financial measures also provide investors with insight into the Corporation’s decision making as the Corporation uses these non-IFRS financial measures to make financial, strategic and operating decisions. The non-IFRS and other financial measures should not be considered as substitutes for IFRS measures.

    These non-IFRS and other financial measures are derived primarily from the audited consolidated financial statements, but do not have a standardized meaning under IFRS; accordingly, they may not be comparable to similarly named measures used by other companies. Non-IFRS and other financial measures are not audited. They have important limitations as analytical tools and investors are cautioned not to consider them in isolation or place undue reliance on ratios or percentages calculated using these non-IFRS financial measures.

    Non-IFRS financial measures
    Specific financial
    measure
    Use Composition Most directly
    comparable IFRS
    measure
    Financial data – Combined (all disclosed financial data) To assess the operating performance and the ability of a company to generate cash from its operations and investments in joint ventures and associates. Results from the combination of the financial information of Boralex Inc. under IFRS and the share of the financial information of the Interests.

    Interests in the Joint Ventures and associates, Share in earnings (losses) of the Joint Ventures and associates and Distributions received from the Joint Ventures and associates are then replaced with Boralex’s respective share in the financial statements of the Interests (revenues, expenses, assets, liabilities, etc.)

    Respective financial data – Consolidated
    Discretionary cash flows To assess the cash generated from operations and the amount available for future development or to be paid as dividends to common shareholders while preserving the long-term value of the business.

    Corporate objectives for 2025 from the strategic plan.

    Net cash flows related to operating activities before “change in non-cash items related to operating activities,” less
    (i) distributions paid to non-controlling shareholders;
    (ii) additions to property, plant and equipment (maintenance of operations);
    (iii) repayments on non-current debt (projects) and repayments to tax equity investors;
    (iv) principal payments related to lease liabilities;
    (v) adjustments for non-operational items; plus
    (vi) development costs (from the statement of earnings).
    Net cash flows related to operating activities
    Cash flows from operations To assess the cash generated by the Company’s operations and its ability to finance its expansion from these funds. Net cash flows related to operating activities before changes in non-cash items related to operating activities. Net cash flows related to operating activities
    Non-IFRS financial measures
    Specific financial
    measure
    Use Composition Most directly
    comparable IFRS
    measure
    Available cash and cash equivalents To assess the cash and cash equivalents available, as at balance sheet date, to fund the Corporation’s growth. Represents cash and cash equivalents, as stated on the balance sheet, from which known short-term cash requirements are excluded. Cash and cash equivalents
    Available cash resources and authorized financing To assess the total cash resources available, as at balance sheet date, to fund the Corporation’s growth. Results from the combination of credit facilities available to fund growth and the available cash and cash equivalents. Cash and cash equivalents
    Other financial measures – Total of segments measure
    Specific financial measure Most directly comparable IFRS measure
    EBITDA(A) Operating income
    Other financial measures – Supplementary Financial Measures
    Specific financial measure Composition
    Credit facilities available for growth The credit facilities available for growth include the unused tranche of the parent company’s credit facility, apart from the accordion clause, as well as the unused tranche credit facilities of subsidiaries which includes the unused tranche of the credit facility- France and the unused tranche of the construction facility.
    Anticipated production For older sites, anticipated production by the Corporation is based on adjusted historical averages, planned commissioning and shutdowns and, for all other sites, on the production studies carried out.
       

    Combined

    The following tables reconcile Consolidated financial data with data presented on a Combined basis:

        2024     2023  
    (in millions of Canadian dollars) Consolidated   Reconciliation(1)   Combined   Consolidated  Reconciliation(1) Combined  
    Three-month periods ended December 31:              
    Power production (GWh)(2) 1,520   579   2,099   1,814 537 2,351  
    Revenues from energy sales and feed-in premium 228   30   258   315 30 345  
    Operating income 78   (25 ) 53   98 21 119  
    EBITDA(A) 169   22   191   202 27 229  
    Net earnings (loss) (2 )   (2 ) 58 58  
    Years ended December 31:                    
    Power production (GWh)(2) 5,691   2,154   7,845   5,973 2,047 8,020  
    Revenues from energy sales and feed-in premiums 817   116   933   994 110 1,104  
    Operating income 226   41   267   226 80 306  
    EBITDA(A) 581   89   670   578 97 675  
    Net earnings 74     74   115 115  
      As at December 31, 2024
      As at December 31, 2023
     
    Total assets 7,604   872   8,476   6,574 730 7,304  
    Debt – Principal balance 4,032   556   4,588   3,327 437 3,764  
    (1) Includes the respective contribution of joint ventures and associates as a percentage of Boralex’s interest less adjustments to reverse recognition of these interests under IFRS. This contribution is attributable to the North America segment’s wind farms and includes corporate expenses of $2 million under EBITDA(A) for the year ended December 31, 2024 ($2 million as at December 31, 2023). 
    (2) Includes compensation following electricity production limitations.
       

    EBITDA(A)

    EBITDA(A) is a total of segment financial measures and represents earnings before interest, taxes, depreciation and amortization, adjusted to exclude other items such as acquisition and integration costs, other losses (gains), net loss (gain) on financial instruments and foreign exchange loss (gain), with the last two items included under Other.

    EBITDA(A) is used to assess the performance of the Corporation’s reporting segments.

    EBITDA(A) is reconciled to the most comparable IFRS measure, namely, operating income, in the following table:

      2024       2023   Change 2024 vs 2023
    (in millions of Canadian dollars) Consolidated Reconciliation(1) Combined Consolidated Reconciliation(1) Combined Consolidated   Combined
     
    Three-month periods ended December 31:            
    EBITDA(A) 169   22   191   202   27   229   (33 ) (38 )
    Amortization (73 ) (15 ) (88 ) (75 ) (14 ) (89 ) 2   1  
    Impairment   (47 ) (47 ) (20 ) (1 ) (21 ) 20   (26 )
    Other gains (losses) (3 )   (3 ) 1   (1 )   (4 ) (3 )
    Share in earnings of joint ventures and associates (3 ) 3     (17 ) 17     14    
    Change in fair value of a derivative included in the share in earnings of a joint venture       7   (7 )   (7 )  
    Impairment included in the share in earnings of a joint venture (12 ) 12           (12 )  
    Operating income 78   (25 ) 53   98   21   119   (20 ) (66 )
                 
    Years ended December 31:            
    EBITDA(A) 581   89   670   578   97   675   3   (5 )
    Amortization (297 ) (59 ) (356 ) (293 ) (58 ) (351 ) (4 ) (5 )
    Impairment (5 ) (47 ) (52 ) (20 ) (1 ) (21 ) 15   (31 )
    Other gains 5     5   1   2   3   4   2  
    Share in earnings of joint ventures and associates (46 ) 46     (59 ) 59     13    
    Change in fair value of a derivative included in the share in earnings of a joint venture       19   (19 )   (19 )  
    Impairment included in the share in earnings of a joint venture (12 ) 12           (12 )  
    Operating income 226   41   267   226   80   306     (39 )
    (1) Includes the respective contribution of joint ventures and associates as a percentage of Boralex’s interest less adjustments to reverse recognition of these interests under IFRS.
       

    Cash flow from operations and discretionary cash flows

    The Corporation computes the cash flow from operations and discretionary cash flows as follows:

      Consolidated
      Three-month periods ended Years ended
      December 31 December 31
    (in millions of Canadian dollars) 2024   2023   2024   2023  
    Net cash flows related to operating activities 31   107   215   496  
    Change in non-cash items relating to operating activities 74   54   200   (51 )
    Cash flows from operations 105   161   415   445  
    Repayments on non-current debt (projects)(1) (53 ) (50 ) (240 ) (232 )
    Adjustment for non-operating items(2) 5   2   7   6  
      57   113   182   219  
    Principal payments related to lease liabilities(3) (6 ) (4 ) (19 ) (17 )
    Distributions paid to non-controlling shareholders(4) (17 ) (33 ) (52 ) (57 )
    Additions to property, plant and equipment (maintenance of operations)(5) (3 ) 2   (10 ) (6 )
    Development costs (from statement of earnings)(6) 16   13   57   45  
    Discretionary cash flows 47   91   158   184  
    (1) Includes repayments on non-current debt (projects) and repayments to tax equity investors, and excludes VAT bridge financing, early debt repayments and repayments under the construction facility – Boralex Energy Investments portfolio and the CDPQ Fixed Income Inc. term loan.
    (2) For the years ended December 31, 2024 and December 31, 2023, favourable adjustment consisting mainly of acquisition, integration and other non-operating miscellaneous items.
    (3) Excludes the principal payments related to lease liabilities for projects under development and construction.
    (4) Comprises distributions paid to non-controlling shareholders as well as the portion of discretionary cash flows attributable to the non-controlling shareholder of Boralex Europe Sàrl.
    (5) Excludes the additions to the property, plant and equipment of regulated assets (treated as assets under construction since they are regulated assets for which investments in the plant are considered in the setting of its electricity selling price). During the fourth quarter of 2023, an amount of $4 million was reclassified as new property, plant, and equipment under construction.
    (6) During Q1-2024, the Corporation reclassified the employee benefits for 2023 and 2024 related to its incentive plans, which were reported in full under Operating expenses in the consolidated statements of earnings. To better allocate these expenses to the Corporation’s various functions and thus provide more relevant information to users of the financial statements, the Corporation is now allocating these costs to Operating, Administrative and Development expenses in the consolidated statements of earnings according to the breakdown of staff. This change resulted in a $1 million increase in development costs for the three-month period ended December 31, 2023 and $5 million increase for the year ended December 31, 2023.
       

    Available cash and cash equivalents and available cash resources and authorized financing

    The Corporation defines available cash and cash equivalents as well as available cash resources and authorized financing as follows:

      Consolidated
      As at December 31   As at December 31  
    (in millions of Canadian dollars) 2024   2023  
    Cash and cash equivalents 592   478  
    Cash and cash equivalents held by entities subject to project debt agreement and restrictions(1) (526 ) (388 )
    Bank overdraft (5 ) (6 )
    Available cash and cash equivalents 61   84  
    Credit facilities available for growth 462   463  
    Available cash resources and authorized financing 523   547  
    (1) This cash can be used for the operations of the respective projects, but is subject to restrictions for non-project related purposes under the credit agreements.
       

    Disclaimer regarding forward-looking statements

    Certain statements contained in this release, including those related to results and performance for future periods, installed capacity targets, EBITDA(A) and discretionary cash flows, the Corporation’s strategic plan, business model and growth strategy, organic growth and growth through mergers and acquisitions, obtaining an investment grade credit rating, payment of a quarterly dividend, the Corporation’s financial targets, the projects commissioning dates, the portfolio of renewable energy projects, the Corporation’s Growth Path, the bids for new storage and solar projects and its Corporate Social Responsibility (CSR) objectives are forward-looking statements based on current forecasts, as defined by securities legislation. Positive or negative verbs such as “will,” “would,” “forecast,” “anticipate,” “expect,” “plan,” “project,” “continue,” “intend,” “assess,” “estimate” or “believe,” or expressions such as “toward,” “about,” “approximately,” “to be of the opinion,” “potential” or similar words or the negative thereof or other comparable terminology, are used to identify such statements.

    Forward-looking statements are based on major assumptions, including those about the Corporation’s return on its projects, as projected by management with respect to wind and other factors, opportunities that may be available in the various sectors targeted for growth or diversification, assumptions made about EBITDA(A) margins, assumptions made about the sector realities and general economic conditions, competition, exchange rates as well as the availability of funding and partners. While the Corporation considers these factors and assumptions to be reasonable, based on the information currently available to the Corporation, they may prove to be inaccurate.

    Boralex wishes to clarify that, by their very nature, forward-looking statements involve risks and uncertainties, and that its results, or the measures it adopts, could be significantly different from those indicated or underlying those statements, or could affect the degree to which a given forward-looking statement is achieved. The main factors that may result in any significant discrepancy between the Corporation’s actual results and the forward-looking financial information or expectations expressed in forward-looking statements include the general impact of economic conditions, fluctuations in various currencies, fluctuations in energy prices, the risk of not renewing PPAs or being unable to sign new corporate PPA, the risk of not being able to capture the US or Canadian investment tax credit, counterparty risk, the Corporation’s financing capacity, cybersecurity risks, competition, changes in general market conditions, industry regulations and amendments thereto, particularly the legislation, regulations and emergency measures that could be implemented for time to time to address high energy prices in Europe, litigation and other regulatory issues related to projects in operation or under development, as well as certain other factors considered in the sections dealing with risk factors and uncertainties appearing in Boralex’s MD&A for the fiscal year ended December 31, 2024.

    Unless otherwise specified by the Corporation, forward-looking statements do not take into account the effect that transactions, non-recurring items or other exceptional items announced or occurring after such statements have been made may have on the Corporation’s activities. There is no guarantee that the results, performance or accomplishments, as expressed or implied in the forward-looking statements, will materialize. Readers are therefore urged not to rely unduly on these forward-looking statements.

    Unless required by applicable securities legislation, Boralex’s management assumes no obligation to update or revise forward- looking statements in light of new information, future events or other changes.

    For more information:

    The MIL Network

  • MIL-OSI Global: Africa’s newest book prize is named after Andreé Blouin: who was she?

    Source: The Conversation – Africa – By Tinashe Mushakavanhu, Research Associate, University of Oxford

    Andrée Blouin was a political activist and writer from the Central African Republic. Until recently, her name hardly ever appeared in the grand narratives of Africa’s liberation.

    When she died in 1986, her passing was hardly in the news – a stark contrast to her pivotal role as an adviser and campaign strategist to newly independent African leaders in Algeria, both Congos, Côte d’Ivoire, Mali, Guinea and Ghana.

    She was more than a participant. She was an organising force, an architect of resistance, a strategist who shaped the fight against colonial rule. Yet, like many women in African history, her contributions faded into the margins, overshadowed by the men she helped empower.

    Interest in Blouin has been rekindled. She is featured in the Oscar-nominated documentary Soundtrack to a Coup d’État about DRC independence leader Patrice Lumumba. She worked as his speechwriter and chief of protocol.

    And her memoir My Country, Africa: Autobiography of the Black Pasionaria, long out of print, was re-released and is now widely available.

    Now a new annual book award called the Andrée Blouin Prize has been launched in her honour by a South Africa-based publishing house, Inkani Books. Its mission is to amplify the voices of African women, cisgender and transgender, writing about history, politics and current affairs from a left perspective.

    For me as a literary historian who has been preoccupied with archives of marginal historical figures, this activation of Blouin powerfully highlights her legacy. It also invites new engagement with her work.

    Who was Andrée Blouin?

    Blouin was born in 1921 in Central African Republic but from the age of three she was placed in an orphanage in neighbouring Congo Brazzaville. She ran away when she was 14 and so began a life of rebellion.

    She would grow up to be a formidable political operator. Her reach touches many parts of Africa. For her, the struggle was not just local, it was everywhere. As a multilingual person, she spoke a dozen languages, a gift that allowed her to easily move between places and political contexts.

    Her political awakening was deeply personal – she was radicalised by her son’s death from malaria in a colonial hospital in 1942. He had been denied life-saving medication. Colonialism, she realised, was not just her own misfortune but a system of evil suffocating African lives.

    Today history is vindicating this fascinating historical figure. This is happening through the wealth of archival material – photographs, videos, interviews and texts – that places her at the centre of political action. The image of African liberation tends to be men in suits. And yet a smiling Blouin can be seen with them, side by side, even addressing large crowds.

    It is thanks to the refusal of this archive to be repressed that we can review moments that shaped African liberation history. And appreciate the roles that women like Blouin played.

    Behind the prize

    African literary prizes have seen significant growth in recent years, both in number and influence. They play an important role in promoting African literature, offering recognition and financial support to writers, and shaping the literary canon.

    They can also address the need for dedicated platforms that amplify underrepresented voices.

    Inkani Books describes itself as a “people’s movement-driven publishing house”. It is introducing The Andrée Blouin Prize in her honour. The impetus for the prize, according to Inkani’s publishing director Efemia Chela, was to directly challenge erasure of women in history and in political writing.

    She explains:

    This prize is not just an accolade; it is a reclamation of space, a declaration that African revolutionary women’s narratives will no longer be sidelined.

    The publishing house, established less than five years ago, has been reissuing popular books about revolutionary figures. These include the likes of Thomas Sankara, Kwame Nkrumah, Amílcar Cabral and Frantz Fanon. These men are often celebrated for their heroism and intellectual contributions to pan-African ideas about freedom, politics and revolution.

    The Andrée Blouin Prize is a bold act of reclamation, ensuring that the narratives of African revolutionary women are no longer overlooked but recognised, celebrated and centred.

    In fact, this is an invitation for contemporary women to write themselves into literary history.

    The inaugural winner will receive a $2,000 advance and a publishing contract with Inkani. The prize is open to all women across Africa and is dedicated to showcasing and celebrating the continent’s diverse and vibrant experiences.

    It is part of a broader movement challenging historical exclusions in African publishing. Literary production is dominated by big multinational publishing companies that determine reading tastes and trends.

    Last year, Nigeria-based Cassava Republic Press launched the Global Black Women’s Non-Fiction Manuscript Prize to spotlight exceptional works by Black women.




    Read more:
    African literary prizes are contested – but writers’ groups are reshaping them


    While African publishing has not always been welcoming to women writers, a shift is underway. Writers like Nigeria’s Chimamanda Ngozi Adichie, Zimbabwe’s NoViolet Bulawayo, Uganda’s Jennifer Nansubuga Makumbi, and Zambia’s Namwali Serpell are now among the most influential voices shaping African literature today.

    Tinashe Mushakavanhu 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. Africa’s newest book prize is named after Andreé Blouin: who was she? – https://theconversation.com/africas-newest-book-prize-is-named-after-andree-blouin-who-was-she-250828

    MIL OSI – Global Reports

  • MIL-OSI Video: Secretary-General/Bangladesh, Ramadan, Türkiye & other topics – Daily Press Briefing (27 February)

    Source: United Nations (Video News)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    Highlights:
    Secretary-General/Bangladesh
    Secretary-General/Ramadan Message
    Türkiye
    Haiti
    Ukraine
    Sudan
    Democratic Republic of the Congo/Jean-Pierre Lacroix
    Democratic Republic of the Congo
    Occupied Palestinian Territory
    Lebanon
    Staff Security

    SECRETARY-GENERAL/BANGLADESH
    Every year, the Secretary-General does a Ramadan solidarity visit, where he likes to visit and fast with a Muslim community, which is facing distress. He began this tradition when he was High Commissioner for Refugees. In his own words, the Secretary-General said that Ramadan embodies the values of compassion, empathy and generosity. It is an opportunity to reconnect with family, with community and a chance to remember those less fortunate. These missions are to remind the world of the true face of Islam.
    This year, the Secretary-General will be going to Bangladesh from the 13-16 March. He will travel to Cox’s Bazaar to join an Iftar and meet with Rohingya refugees who have been forcibly displaced from their homes in Myanmar, and also, of course, with the host Bangladeshi communities who have been generously in hosting the refugees from Myanmar.
    During his visit, he will also be in the capital of Bangladesh, Dhaka, where he will meet with the Chief Adviser for the interim government, Professor Muhammed Yunus, as well as with young women and men and representatives from civil society.

    SECRETARY-GENERAL/RAMADAN MESSAGE
    In his annual message at the start of Ramadan, the Secretary-General expressed a special message of support to all those who will spend this sacred time in displacement and violence. From Gaza and the wider region, to Sudan, the Sahel and beyond.
    The Secretary-General stands with all those who are suffering and joins those observing Ramadan to call for peace and mutual respect.

    TÜRKIYE
    On the reports coming out of Türkiye regarding Abdullah Öcalan, the imprisoned leader of the Kurdistan Workers Party, the PKK, and his message calling for fighters to lay down their arms and the PKK to dissolve itself, the spokesperson said that the Secretary-General welcomes this important development. This represents a glimmer of hope, which would lead to the resolution of a long-standing conflict.

    HAITI
    The World Food Programme (WFP) today said that, as part of their emergency response in Haiti, they continue to provide critical food assistance, cash-based transfers, and hot meals across the Artibonite, Nord, and Ouest departments. This includes $1.2 million in cash assistance, as well as nearly 3,000 meals distributed in border regions to Haitians deported back to their country.
    Last week, the WFP organized the first of two humanitarian cargo flights from Panama City to Port-au-Prince. This was the first humanitarian cargo flight to land at the Port-au-Prince airport since its closure lastNovember.
    The flight carried medicines, vaccines, and medical supplies for eight humanitarian organizations. A second flight is scheduled in about one month.

    Full highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=27%20February%202025

    https://www.youtube.com/watch?v=nX1Wlh5xwHk

    MIL OSI Video

  • MIL-OSI Asia-Pac: Speech by DSJ at closing ceremony of National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong) (English only)

    Source: Hong Kong Government special administrative region

    Following is the speech by the Deputy Secretary for Justice, Dr Cheung kwok-kwan, at the closing ceremony of the National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong) today (February 28):

    Mr Zhao (Vice Chairman and General Manager of China Legal Service (H.K.) Limited, Mr Zhao Zhenhua), distinguished guests, ladies and gentlemen,

    Good afternoon. As we gather here today to conclude the National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong), I am reminded of the saying that “time flies when you are having fun. It seems like just yesterday we were welcoming you to this Course. Yet, here we are, at the end of an enriching journey that has spanned several days of insightful lectures, engaging dialogues and practical experience.

    First, I would like to express my sincere gratitude to the Ministry of Justice, the China University of Political Science and Law, and the China Legal Service (H.K.) Limited for their support and trust in the Hong Kong International Legal Talents Training Academy. We are deeply grateful for their support and assistance, which have been crucial to the success of this Course. I eagerly anticipate our continued collaboration and future endeavors together.

    I would also like to extend my sincere gratitude to each of you for your active participation and valuable contributions. The thoughtful questions you asked, the insightful perspectives you shared, and the engaging discussions you participated in have all significantly enriched our collective learning experience.

    As you may be aware of, the Supreme People’s Court and the Ministry of Justice of the People’s Republic of China have jointly issued the (Opinions on Giving Full Play to the Role of Arbitration to Serve the High-quality Development of the Guangdong-Hong Kong-Macao Greater Bay Area), expanding the scope of arbitration services regarding “Hong Kong-invested enterprises choosing Hong Kong Law” and “Hong Kong-invested enterprises choosing Hong Kong as the arbitration place.

    The new measures, effective from February 14 of this year, include that (i) Hong Kong-invested enterprises registered in Shenzhen and Zhuhai may choose Hong Kong law as the applicable laws in contracts, regardless of the proportion of investment; and (ii) Hong Kong-invested enterprises registered in the nine Mainland municipalities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) may choose Hong Kong as the place of arbitration to resolve commercial disputes, in addition to being able to agree on the Mainland as the arbitration location.

    These new measures implement the content of the Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement Agreement on Trade in Services in October last year, providing investors and enterprises in the GBA with more and broader legal services options. They also establish a better, more diversified dispute resolution mechanism based on joint discussion, joint construction, and shared benefits.

    The Opinions provide suggestions for accelerating the construction of world-class arbitration institutions in the GBA, establishing unified first-class arbitration rules and online negotiation and resolution platforms in the GBA, expanding the service areas of arbitration institutions in the nine Mainland municipalities of the GBA, improving the arbitration and succession mechanisms, as well as the judicial supervision mechanisms, and establishing a training mechanism for foreign-related arbitration.

    The Department of Justice of the Hong Kong Special Administration Region will continue to actively co-operate with municipalities in the GBA to promote the integrated development, seeking to give full play to Hong Kong’s capability in nurturing foreign-related legal talents, and assist the country in providing more training for foreign-related talents.

    As the Academy strives to continuously improve and enhance our training programmes, we would greatly appreciate your feedback on this Course. As you all hail from diverse backgrounds in government, universities, lawyers’ associations and enterprises, and are all leaders and experts in your respective fields, your insights and suggestions are very invaluable to us, helping us tailor future courses to better meet your needs and expectations.

    As we move forward, let us continue to build on the connections and insights that we gained from this Course. I wish you all a safe journey back home, and continued success in your professional pursuits. Thank you very much.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: ICE arrests MS-13 gang member in Iowa

    Source: US Immigration and Customs Enforcement

    February 28, 2025Minneapolis, MN, United StatesEnforcement and Removal

    MINNEAPOLIS – U.S. Immigration and Customs Enforcement and the U.S. Marshals Service arrested Luis Enrique Baires, 28, a criminal alien from El Salvador wanted in his home country for two counts of aggravated homicide, two counts of proposition and conspiracy for the crime of aggravated homicide, and one count of illicit associations with the MS-13, Enfermos Criminales Salvatruchos clique Feb. 21 during a routine traffic stop in Des Moines, Iowa.

    “Rural Iowa is not immune from central American criminals like Baires, and we will continue to face the challenge of tracking down and arresting the worst of the worst,” said ICE Enforcement and Removal Operations St. Paul Field Office Director Matthew Putra. “Thanks to U.S. Marshals Service for assisting us in this arrest to keep communities safe.”

    Baires remains in ICE custody without bond pending the outcome of his removal proceedings.

    For more news and information on ICE’s efforts to enforce our nation’s immigration laws in the St. Paul Area of Operations which includes Minneapolis, Iowa, North and South Dakota and Nebraska follow us on X at @EROSaintPaul.

    MIL OSI USA News

  • MIL-OSI United Kingdom: The Councils ongoing commitment to securing and preserving heritage buildings

    Source: City of Preston

    In recent months, Preston City Council has identified numerous empty buildings within the city centre where community safety, preventing anti-social behaviour and/or preserving their heritage value needs to be addressed.

    Most of these buildings are in private ownership and so the Council has established a task group to oversee and co-ordinate action. This includes a range of departments from the Council and representatives from the Police and Fire Service.

    A liaison group with representatives from Preserving Preston’s Heritage has also been set up.

    The Council has taken steps to obtain ownership details and make contact with owners to draw attention to the risk to their property.

    Owners of the priority buildings have been invited to meet with the task group, but so far only two have replied.

    Furthermore, for certain listed buildings identified which are showing the most deterioration, it has been necessary for the Council to assess the risk to understand the extent of deterioration and damage, assess the scope of works needed to remedy it, decide whether statutory action is warranted and what type of action is appropriate.  

    Councillor Amber Afzal, Cabinet Member for Planning and Regulation at Preston City Council said:

    By adopting a joined up, multi-agency approach to tackling the complex issues that have blighted these properties through years of neglect, good progress is now being made. Public safety is our main concern but it is critical that also, wherever possible, we retain our heritage buildings that are so important to Preston’s history and give the city its unique cultural identity.

    Councillor Valerie Wise, Cabinet Member for Community Wealth Building and the City Regeneration portfolio at Preston City Council is also keen to see a brighter future for these neglected buildings. She said:

    Repurposing and bringing back to life these forgotten and unloved architectural gems, many of which are listed, is so important in the overall regeneration plans for the city.

    We will continue to work closely with the owners and landlords of these special interest properties to rejuvenate the city centre in the best possible way for future economic growth and architectural benefit.

    An update on the most significant cases is provided as follows:

    27 Winckley Square (former home of Edith Rigby) – Grade II listed building

    The Council has taken action and been engaging with the owners for some time in connection with community safety, preventing anti-social behaviour and/or preserving the heritage value of the building.

    Certain steps have been taken by the owners, but the Council are of the view that further work is necessary.

    The Council has previously instructed a survey of the building to assess its condition, which identified numerous concerns. Due to the condition of the building, it was not possible to complete the survey of the inside of the building.

    In December 2024 measures were taken by the owner to provide structural support to allow an internal survey to be carried out.

    The internal survey was carried out this week (week commencing 24 February), which will enable the Council to determine the scope of works necessary to remedy the deterioration and whether statutory action is warranted.

    This will be communicated to the owner in the first instance.

    The Council is aware the rooflight is open to the elements and the owner has confirmed that temporary measures will be taken to weatherproof the rooflight. This is an appropriate course of action until the scope of necessary repair works, which will include this, is determined.    

    The Old Dog Inn – Grade II listed building

    The Council has drawn the owner’s attention to the rear wall, which contains numerous cracks, some of which are significant in size and if not addressed could lead to an uncontrolled collapse.

    In an attempt to address the deterioration, the owner submitted a listed building consent application proposing to demolish and rebuild the rear wall. This was carefully assessed and following the submission of further information concerning the methodology of the work, listed building consent was granted in February 2025.

    The listed building consent was accompanied with a letter informing the owner that given the condition of the rear wall had worsened and to prevent an uncontrolled collapse of the rear wall, the Council is actively considering the use of statutory enforcement powers to execute works urgently necessary for the preservation of the building.

    To that end, the Council instructed a survey of the building, which has been carried out, to inform the owner of what steps are needed to prevent an uncontrolled collapse.

    The owner is fully aware that unless the necessary works are completed within an appropriate timeframe then the works could be carried out by the Council in default.  

    St. Joseph’s Orphanage, Mount Street – complex of Grade II listed buildings

    Planning permission and listed building consent were both granted in February 2021 for alterations to the Chapel and attached tower, demolition of five listed buildings and the erection of three apartment blocks and ten town houses.

    Three out of the five buildings have been demolished. One building, adjoining the tower, has been partially demolished.

    The other building adjacent to Mount Street was the subject of a fire in November 2024. The fire has left this building unsafe and dangerous, and Mount Street was closed as a result until the building is demolished to protect the public.

    The delays in the demolition have largely been due to satisfying the Health and Safety Executive that the demolition methodology satisfactorily addressed the removal of asbestos and the safety of the building and those adjoining, the demolition contractors and members of the public.

    Ground works commenced this week, and the demolition will start on 03 March 2025, and it is expected to be completed in 12-weeks.

    Harris Institute, Grade II* listed building

    The Council has taken action and is engaging with the owner in connection the deterioration of the building and its future preservation.

    Certain steps have been taken by the owner, which include remediation works to the party wall, repairing the roof and addressing the water ingress, and eradicating dry rot, the latter takes time to treat and remove.

    Planning permission and listed building consent were both granted in December 2024 for minor alterations, several community and office uses, and holiday lets within Regent House.

    The owner has responded positively and has recently met with the Council to provide an update on the future of the building.

    The approved scheme for the building will be delivered in phases, with the holiday lets opening first before the rest of the scheme is delivered.

    Additional Information

    • Grade II* listed – This has greater importance as a heritage asset.

    Preston City Council actively applies and prioritises the principles of Community Wealth Building wherever applicable and appropriate.

    Community Wealth Building is an approach which aims to ensure the economic system builds wealth and prosperity for everyone.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Councils collaborate on devolution plans

    Source: City of Plymouth

    In a bold move towards greater local autonomy, the Leaders of Plymouth City Council, Devon County Council, and Torbay Council are working together to explore the creation of a Mayoral Strategic Authority.

    A part of the Government’s new devolution plans, this is a once-in-a-generation opportunity to take power out of Whitehall, bring decision-making closer to the people of Devon, Plymouth and Torbay and unlock unprecedented opportunities for growth and innovation.

    A Mayoral Strategic Authority promises to supercharge the region’s ability to access greater powers and unlock additional funding for economic growth and infrastructure development, such as housing and transport.

    By working together, the councils aim to ensure that Devon, Plymouth and Torbay are ready to seize this unique opportunity when the government calls for further submissions of interest.

    Councillor Tudor Evans OBE, Leader of Plymouth City Council, said, “Devolution is a game-changer for our communities. The devolution of powers and funding to local decision makers will enhance our ability to focus on our priorities such as increasing investment in our roads and public transport, providing better access to education and skills, tackling health inequalities and building new homes.

    “By exploring the formation of a Mayoral Strategic Authority with Devon and Torbay, we’re taking decisive action to ensure that the region can harness the full benefits of local control and enhanced public services.

    “Whilst Plymouth, Devon and Torbay are different places with our own cultures and identities, we also share distinct geographic characteristics, have clearly established economic connections, share existing public service boundaries, and of course already work together closely across a number of major programmes. By working together we can not only unlock greater powers and funding, but we can also ensure that our unique interests are understood by central government.”

    Councillor James McInnes, Leader of Devon County Council, commented: “The formation of a mayoral strategic authority represents an opportunity for Devon, Plymouth and Torbay to speak with one voice at Westminster and attract significant additional funding and autonomy for the county of Devon.

    “Other English regions have delivered more integrated transport networks, kickstarted economic development and focussed on health improvements for their residents through a mayoral model. We have already delivered a successful combined authority deal for Devon and Torbay and it is absolutely right we work together, and with the Government, to explore the potential benefits of deeper devolution for those we serve. Our part of the world is already a fantastic place to live and to do business. This has the potential to make it even better for all.”

    Councillor David Thomas, Leader of Torbay Council, added, “The Devon and Torbay Combined County Authority already gives us and our residents and businesses a stronger voice with Government.  Working together – as councils and with the Government and our stakeholders – is key to us meeting our ambitions.

    “It is really important that we explore the benefits that a Mayoral Strategic Authority could achieve for Devon, Plymouth and Torbay.  Without exploring this there is a risk that our area will be left behind. We cannot allow that to happen”.

    The councils also emphasised that Cornwall Council is welcome to join their discussions at any time, should they choose to reconsider. This inclusive approach highlights the commitment to regional cooperation and shared prosperity.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Women Entrepreneurship Platform – NITI Aayog State Workshop on Enabling Women-Led Development through Entrepreneurship: A Remarkable Success in Mizoram

    Source: Government of India (2)

    Posted On: 28 FEB 2025 4:52PM by PIB Delhi

     

    Under its State Support Mission, NITI Aayog held the Third State Workshop on Enabling Women-led Development through Entrepreneurship. The workshop, organized in collaboration with the Women Entrepreneurship Platform (WEP) and the Government of Mizoram, took place at Mizoram University, Aizawl, on 27 February 2025. The event focused on empowering women entrepreneurs in the north-eastern region and was attended by representatives from all eight north-eastern states.

    The Chief Guest, Chief Minister of Mizoram, Shri Lalduhoma, speaking at the inaugural session said, “Women entrepreneurs in Mizoram have demonstrated remarkable potential and resilience, yet challenges like access to capital and markets persist. Through initiatives like the Mizoram Bana Kaih Handholding Scheme, we are shifting from a welfare-driven approach to an empowerment-based model—where individuals are not just beneficiaries but active contributors to the state’s progress. I encourage more women to step forward, as their innovation and determination will define the future of Mizoram. The government stands with them in this journey towards economic and social transformation.” He urged the participants to register on the WEP platform (www.wep.gov.in) and get benefits from all the programs that were launched.

    Shri Lalnghinglova Hmar, Minister of Labour, Employment Skill Development & Entrepreneurship Department (LESDE), Government of Mizoram said that the launch of the Women Entrepreneurship Platform (WEP) State Chapter in Mizoram marks a transformative step in empowering our women entrepreneurs. This initiative would be ensuring that our women entrepreneurs truly benefit from it, unlocking new opportunities for economic growth and self-reliance in the state

    Dr. Vinod K Paul, Hon’ble Member, NITI Aayog, addressed the gathering with a vision for Viksit Bharat 2047, emphasizing the role of women entrepreneurs in shaping India’s economic future. He underscored the importance of localizing efforts to create a more inclusive and supportive entrepreneurial ecosystem in the North-east. He mentioned, “By combining the visionary initiatives of the state government with the support of WEP, we are creating a sustainable and inclusive environment where women entrepreneurs can thrive, scale their businesses, and contribute to India’s economic transformation.”

    Shri Khilli Ram Meena, Chief Secretary, Government of Mizoram, highlighted the government’s initiatives in fostering women’s entrepreneurship, stressing the importance of financial access, skill development, digital literacy, and mentorship.

    Ms. Anna Roy, Principal Economic Advisor, NITI Aayog, and Mission Director, WEP, stated:

    “The Women Entrepreneurship Platform (WEP) is a catalyst for change, bringing together government, private sector, and civil society to build a robust entrepreneurial ecosystem for women. By addressing critical needs such as access to finance, markets, skilling, and mentorship, WEP empowers women entrepreneurs to scale their businesses and contribute to economic growth.”

    Key Highlights of the Workshop:

    1. WEP Mizoram State Chapter

    The Women Entrepreneurship Platform (WEP) launched its Mizoram State Chapter, making it the first in Northeast India. This initiative aims to strengthen regional support for women entrepreneurs by providing resources, mentorship, and business opportunities.

    1. New Shop ATR Launch in Northeast

    As part of WEP’s Award to Reward (ATR) initiative, the New Shop ATR program was launched to support women entrepreneurs in the retail sector. ATR has already impacted 750+ women across nine cohorts, addressing their business needs and rewarding exceptional performances. The New Shop Award to Reward (ATR) program was launched to support women entrepreneurs in the retail sector. Ten selected participants will receive intensive training, mentorship, and financial assistance, with two outstanding performers being rewarded.

    1. Awards to Women Entrepreneurs – Project Maitri

    As part of the Award to Reward initiative, outstanding women homestay entrepreneurs from Northeast India were honored under Project Maitri. The winners include Monika Devi (Eco Heritage Villa), Lopamudra Bharali (Jazzabor with Private Kitchen), and Barsha Sharma (Nolina Boutique Homestay). This program, launched in Arunachal Pradesh, provided intensive training to help women scale their tourism ventures.

    1. WEP App – Beta Version

    The beta version of the WEP App was launched to digitize entrepreneurial support for women. The app will provide easy access to mentorship, funding, resources, and networking opportunities, fostering a stronger ecosystem for women-led businesses.

    1. Panel Discussions and Workshops – Covering topics such as government policies, financial access, and fostering young women entrepreneurs. The workshop witnessed an overwhelming response, with over 500 participants, including women entrepreneurs, college students, local self-help groups, government officials, industry leaders, incubators, financial institutions, and philanthropic foundations. Engaging sessions provided valuable insights and knowledge to strengthen women entrepreneurs’ journeys, while a tech experience center curated by the SELCO Foundation showcased innovative sustainable technology solutions by women entrepreneurs in the North East along with other exhibitions organised by DONeR, ADP and Government of Mizoram.

    The success of the workshop reaffirms WEP’s commitment to fostering a more inclusive, resilient, and thriving entrepreneurial ecosystem for women across India, especially in the North-East.

    ****

    MJPS/SR

    (Release ID: 2106956) Visitor Counter : 67

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Residential mortgage survey results for January 2025

    Source: Hong Kong Government special administrative region

    Residential mortgage survey results for January 2025
    Residential mortgage survey results for January 2025
    ****************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The Hong Kong Monetary Authority announced the results of the residential mortgage survey for January 2025.           The number of mortgage applications in January 2025 increased month-on-month by 3.3 per cent to 6 516.           Mortgage loans approved in January 2025 decreased by 2.1 per cent compared with December 2024 to HK$25 billion. Among these, mortgage loans financing primary market transactions increased by 15.5 per cent to HK$10 billion and those financing secondary market transactions decreased by 11.7 per cent to HK$12.2 billion. Mortgage loans for refinancing decreased by 8.8 per cent to HK$2.9 billion.           Mortgage loans drawn down during January 2025 increased by 17.6 per cent compared with December 2024 to HK$15.6 billion.           The ratio of new mortgage loans priced with reference to HIBOR increased from 91.3 per cent in December 2024 to 93 per cent in January 2025. The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.1 per cent in December 2024 to 3.4 per cent in January 2025.           The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,872.9 billion at end-January 2025.           The mortgage delinquency ratio stood at a low level of 0.12 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.

     
    Ends/Friday, February 28, 2025Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Spain: EIB Group and Santander provide €163 million to support energy efficiency projects

    Source: European Investment Bank

    • The EIB Group has invested €121 million in an asset-backed securitisation operation by Santander.
    • This EIB Group investment will enable Santander to mobilise some €163 million to promote green loans for real estate.
    • The operation will support energy efficiency and sustainability projects in Spain’s residential real estate market.

    The EIB Group – made up of the European Investment Bank (EIB) and the European Investment Fund (EIF) – signed a new synthetic securitisation operation with Santander to provide financing for energy efficiency investments in the Spanish real estate sector, including the construction of new near zero-emission buildings and the renovation of existing residential properties to meet sustainability standards.

    The operation will allow new green and sustainable mortgages to be granted to individuals investing in the renovation or construction of buildings with high energy efficiency standards that meet the eligibility conditions set by the EIB.

    The projects financed by this operation will improve energy efficiency, reduce CO2 emissions and help mitigate climate change. The operation contributes to EIB Group priorities such as climate action, cohesion and developing the securitisation market in Europe.

    The EIB’s commitment amounts to around €76 million, while the EIF has committed €45 million. The full EIB Group investment is being executed in a single securitisation, optimally structured to give Santander capital relief on a portfolio of residential mortgages. Under the transaction, the EIB Group will provide a €121 million unfunded guarantee in a mezzanine tranche with the goal of enabling Santander to finance new energy efficiency investments for an amount equal to 1.34 times the size of the EIB Group guarantee.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for inhabitants.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    About Santander

    Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of 2024, Banco Santander had €1.3 trillion in total funds, 173 million customers, 8,000 branches and 207,000 employees.

    MIL OSI Europe News

  • MIL-OSI Europe: ECB Consumer Expectations Survey results – January 2025

    Source: European Central Bank

    28 February 2025

    Compared with December 2024:

    • median consumer perceptions of inflation over the previous 12 months decreased, as did median inflation expectations for the next 12 months, while median inflation expectations for three years ahead remained unchanged;
    • expectations for nominal income growth over the next 12 months decreased, while expectations for spending growth over the next 12 months increased;
    • expectations for economic growth over the next 12 months became less negative, while the expected unemployment rate in 12 months’ time decreased;
    • expectations for growth in the price of homes over the next 12 months increased, while expectations for mortgage interest rates 12 months ahead declined.

    Inflation

    The median rate of perceived inflation over the previous 12 months decreased slightly in January to 3.4%, from 3.5% in December. Median expectations for inflation over the next 12 months also decreased, to 2.6% from 2.8%. In both instances, these decreases reversed the increases observed in the December 2024 data. Median expectations for inflation three years ahead were unchanged at 2.4% in January 2025. Inflation expectations at the one-year and three-year horizons thus remained below the perceived past inflation rate. Uncertainty about inflation expectations over the next 12 months remained unchanged, for the sixth month in a row, at its lowest level since February 2022. While the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups, expectations for lower income quintiles were slightly above those for higher income quintiles. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (those aged 35-54 and 55-70), albeit to a lesser degree than in previous years. (Inflation results)

    Income and consumption

    Consumers’ nominal income growth expectations over the next 12 months decreased to 0.9% in January from 1.1% in December. The drop in income growth expectations was mainly driven by the lowest income quintile, while the income growth expectations of the two highest quintiles remained unchanged. Perceived nominal spending growth over the previous 12 months decreased to 5.1% in January, from 5.2% in December, while expected nominal spending growth over the next 12 months increased to 3.6%, from 3.5% in December. (Income and consumption results)

    Economic growth and labour market

    Economic growth expectations for the next 12 months were less negative, standing at -1.1%, compared with -1.3% in December. Expectations for the unemployment rate 12 months ahead decreased to 10.4%, from 10.5% in December. Consumers continued to expect the future unemployment rate to be only slightly higher than the perceived current unemployment rate (9.9%), implying a broadly stable labour market. Quarterly data showed that unemployed respondents reported a decrease in their expected probability of finding a job over the next three months, which declined to 25.1% in January, from 29.3% in October. Employed respondents, by contrast, reported that their expected probability of job loss over the next three months decreased to 8.6% in January, from 9.0% in October. (Economic growth and labour market results)

    Housing and credit access

    Consumers expected the price of their home to increase by 3.0% over the next 12 months, which was slightly higher compared than in December (2.9%). Households in the lowest income quintile continued to expect higher growth in house prices than those in the highest income quintile (3.4% and 2.8% respectively), although the difference narrowed compared with earlier months. Expectations for mortgage interest rates 12 months ahead declined slightly to 4.5%, their lowest level since July 2022. As in previous months, the lowest income households expected the highest mortgage interest rates 12 months ahead (5.1%), while the highest income households expected the lowest rates (3.9%). The net percentage of households reporting a tightening (relative to those reporting an easing) in access to credit over the previous 12 months increased, as did the net percentage of those expecting a tightening over the next 12 months. The share of consumers who reported having applied for credit during the past three months, which is measured on a quarterly basis, declined to 15.0% in January from 15.9% in October. (Housing and credit access results)

    The release of the Consumer Expectations Survey (CES) results for February is scheduled for 28 March 2025.

    For media queries, please contact: Nicos Keranis, Tel: +49 172 758 7237

    Notes

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Stability pact escape clause to promote militarism and war – P-000802/2025

    Source: European Parliament

    Priority question for written answer  P-000802/2025
    to the Commission
    Rule 144
    João Oliveira (The Left)

    The rising cost of living is making life harder for workers and their families. More than 90 million people in the EU are at risk of poverty and social exclusion, including 20 million children. Difficulties accessing housing are becoming more acute. And yet the Commission continues to give priority to militarism and make the arms race the driver of what it sees as a war economy.

    During the Munich Security Conference, the President of the Commission announced that she would propose an escape clause for the stability pact for what she euphemistically called ‘defence investments’, which constitute nothing more than a boost for militarism, higher military expenditure, an arms race and war.

    In the light of the above:

    Will the Commission propose an escape clause that could also be used for investment intended to step up public services and state social functions, raise wages in public administrations, bolster pensions, investment in the expansion and renovation of public housing stock or restoring public control of strategic economic sectors?

    Submitted: 21.2.2025

    Last updated: 28 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Piero Cipollone: The role of the digital euro in digital payments and finance

    Source: European Central Bank

    Contribution to Bancaria by Piero Cipollone, Member of the Executive Board of the ECB, based on remarks at the Crypto Asset Lab Conference on 17 January 2025

    28 February 2025

    Being a key player in digital payments and digital finance should be a priority for Europe.

    As Mario Draghi pointed out in his recent report, the productivity gap between the United States and the European Union is mostly explained by technology and finance.[1] If we take the information and communications technology (ICT) and financial sectors out, the gap disappears.

    If we want to close the productivity gap with the United States, we need to focus on these areas. Digital payments and digital finance stand at the intersection of these two sectors. And they are developing fast, driven by changes in habits and technology. This is both an opportunity and a risk for Europe. It is an opportunity to close the gap by developing innovative and competitive European solutions. But if we do not seize that opportunity, we run the risk of weakening our competitiveness, resilience and strategic autonomy.

    At the European Central Bank (ECB), as guardians of our single currency, the euro, we consider this a matter of crucial importance. Ultimately, it is about the future of our currency. Today, the euro is the second most important currency in the international monetary system. Its share across a range of indicators stands at around 20%, and the euro area accounts for around 12% of global GDP.[2] If we want to prevent the euro from losing importance on the global stage, transacting and investing in euro needs to be seen as safe, easy and efficient, even as digitalisation transforms payments and finance.[3]

    Central bank money – the central pillar of the payments and financial system – has a key role to play in connecting the different parts of the financial system in a safe and risk-free way. This is particularly relevant in Europe, where payments and finance often remain fragmented along national lines, preventing us from fully reaping the benefits of the single European market. This is true for both retail and wholesale transactions.

    For retail transactions – payments made on a daily basis by consumers and businesses – our reliance on non-European solutions weakens our strategic autonomy and is a drag on productivity growth. We should ask, for example, why we don’t have a European VISA or Mastercard. A digital euro – that is, central bank money in digital form for retail transactions – would give us the chance to increase efficiency, competition, innovation and resilience while allowing European private payment solutions to scale up and protect our monetary sovereignty.[4]

    For wholesale transactions – transactions between financial institutions – we need to avoid repeating the mistake we made in the retail sector and ensure that we provide the conditions for European actors to stay ahead of their competitors. New technologies offer us the opportunity to create an integrated European market for digital assets from the outset, in other words a European capital markets union.[5]

    A digital euro for everyday payments

    For firms and households, central bank money is currently only available in the form of cash; there is currently no equivalent in digital form, which is becoming increasingly problematic because the use and acceptance of cash are declining. In the euro area, cash transactions have fallen below card transactions in value.[6] The share of companies reporting that they do not accept cash has tripled over the last three years to 12%.[7] The European Commission has put forward a legislative proposal to ensure the acceptance of cash[8], and the ECB is committed to ensuring that cash remains as widely available and accessible as possible[9]. Still, the trend towards cash being used less for daily transactions is likely to continue owing to the digitalisation of the economy in line with what has been observed in many advanced economies.

    Day-to-day payments in the euro area by payment instrument, in value terms

    (percentage of the value of all non-recurring day-to-day payments)

    Source: ECB (2024), Study on the payment attitudes of consumers in the euro area (SPACE).

    Note: The “Other” category includes bank cheques, credit transfers, direct debit, instant payments, loyalty points, vouchers and gift cards, crypto-assets, buy-now-pay-later services and other payment instruments.

    Current European digital payment solutions, such as cards issued by European payment schemes, mainly cater to national markets and specific use cases. To pay across European countries, consumers have to rely on a few non-European providers. More than two-thirds of card transactions in the euro area were settled through international payment schemes in the second half of 2023.[10] And 13 out of 20 euro area countries rely entirely on non-European solutions in the absence of their own domestic payment scheme. But even those international payment solutions are not accepted everywhere and do not cover all key use cases.

    National card schemes in the euro area

    Source: ECB.

    As a result, one of the key objectives of central bank money – to offer the public a means of payment backed by the sovereign authority that can be used for retail transactions across the entire currency area – is not being fulfilled in the digital space.

    In addition, European payments have become a prime example of the situation that Enrico Letta and Mario Draghi described in their recent reports.[11] The fragmentation of the market along national lines, the lack of European payment solutions available on a European scale and the difficulty faced by European payment service providers in keeping pace with technological advances mean that Europe is not competitive within its own market, let alone on a global scale.

    Moreover, in an unstable geopolitical environment, we are being left to rely on companies based in other countries. In future, this dependency could extend beyond traditional payment service providers. Platforms like Ant Group’s Alipay have shown they know how to bridge geographical gaps: during major events like UEFA EURO 2024 they were able to boost their payment app usage among customers in Europe.

    Merchants – and consumers, who bear the costs – are left to deal with the consequences of the international card schemes’ market dominance. To give just one example, the average net merchant service charges in the EU almost doubled between 2018 and 2022.[12] This increase occurred despite regulatory efforts to contain it. And the cost falls disproportionately on smaller retailers, who face charges that are three to four times higher than those paid by their larger counterparts.[13]

    We must move swiftly to counter the risks stemming from Europe’s current inability to secure the integration and autonomy of its retail payment system. This is one of the key reasons behind the digital euro project: to bring central bank money into the digital age. Doing so would provide firms and households with a digital equivalent to banknotes and would strengthen our monetary sovereignty.

    Benefits for consumers and merchants

    Complementing banknotes, the digital euro would give all European citizens and firms the freedom to make and receive digital payments seamlessly.[14]

    The digital euro would provide a single, easy, secure and universally accepted public solution for digital payments in stores, online and from person to person. It would be available both online and offline, and would be free for basic use.

    For merchants, the digital euro would provide seamless access to all European consumers. Moreover, it would offer an alternative that would increase competition, thereby lowering transaction costs in a more direct way than is possible through regulations and competition authorities.[15]

    Fostering competition and innovation in an integrated payments ecosystem

    The digital euro would strengthen the euro area economy by fostering competition and innovation.

    European payment service providers are finding it increasingly difficult to compete with international card schemes and mobile payment solutions. As the latter grow in popularity, banks risk falling behind not only in terms of interchange fees, but also in terms of client relationships and user data.

    By contrast, the digital euro would ensure that payment service providers would continue to play a central role, thus enabling them to maintain customer relationships and be compensated for their services, as is currently the case.[16] It would also offer an alternative to co-badging with international card schemes for cross-border payments in – and potentially beyond – the euro area, thus promoting competition.

    The digital euro would also expand the opportunities available to payment service providers while reducing the cost of offering their own services on a European scale. In addition, it would foster an environment conducive to the widespread adoption of payment innovations throughout the euro area.

    Currently, several innovations aimed at simplifying payments are emerging within specific national markets or across a few countries, driven by European payment service providers. Although these innovations are highly commendable and would enhance people’s lives, existing structural barriers are hampering their efforts to achieve pan-European scale.

    These solutions are struggling to achieve the scale needed to provide a service to everyone in the euro area. This limits their ability to compete effectively with the large international players who can fully leverage economies of scale, even on a global level.

    The European Commission’s legislative proposal[17] foresees that the digital euro would have legal tender status; this implies that it would be accepted by all merchants who currently accept electronic payments. In reality this would equate to the creation of a pan-European network which could also be used by private solutions, thus overcoming the obstacles limiting their growth.

    This would foster a more integrated European payments market. As private providers expand their geographical reach and diversify their product portfolios, they will benefit from cost efficiencies and be better positioned to compete internationally.

    In essence, the network effects generated by a digital euro would function as a public good, benefiting both public and private initiatives. This approach would be akin to creating a unified European railway network or European energy grid, where various companies could competitively operate their own services and deliver added value to customers.

    Instead of requiring significant investment to expand existing services across the euro area, the open digital euro standards would facilitate cost-effective standardisation, making it possible for private retail payment solution providers to launch new products and functionalities on a broader scale.

    Ultimately, whether through the digital euro or private solutions, this framework would unlock innovation, create new business opportunities and improve consumer access to a diverse range of goods and services.

    Making this vision a shared reality

    The design of the digital euro, as well as the key provision in the regulation proposed by the European Commission, contains all the key elements required to make this vision a reality.

    Over the past years, we have extensively engaged with a multitude of market stakeholders to establish the digital euro’s features. We have collected and discussed the input of representatives of consumers, merchants, banks and payment service providers. Furthermore, we are now looking at how the digital euro could be used to provide services currently not available on the market. To this end, we launched a call for expressions of interest, asking for collaboration from stakeholders, and we received a very strong response. Through this inclusive approach, we want to take everyone’s needs and perspectives into consideration to produce a robust payments solution.

    The role of central bank money in developing a European market for digital assets

    Currently, the ECB and the national central banks of those EU Member States whose currency is the euro (which we collectively refer to as the Eurosystem) offer central bank money in digital form to financial institutions through our TARGET Services: T2 settles more than 90% of the value of large payments between financial institutions, and T2S settles securities transactions. These services have been crucial in increasing the efficiency and integration of post-trade platforms in Europe.

    We are committed to continuing to provide state-of-the-art settlement services in central bank money, even as new technologies emerge.

    The potential of new technologies

    In this respect, we recognise the potential of new technologies, such as distributed ledger technology (DLT), to transform and improve wholesale financial markets by enabling assets to be issued or represented in digital token form.

    DLT allows market participants to handle trading, settlement and custody on the same platform, reducing credit risk, transaction failures and reconciliation needs. It can enhance efficiency by operating on a 24/7, 365 days a year basis and settling transactions instantly, which could potentially reduce annual infrastructure operational costs. A shared DLT platform could lower market entry barriers, enable small and medium-sized enterprises and new players to access capital markets and facilitate the efficient trading of financial instruments currently not covered on regulated markets.

    We have an opportunity to create an integrated European capital market for digital assets from the outset – in other words, a digital capital markets union.[18]

    In fact, we have recently seen an upsurge in DLT initiatives in Europe. Over 60% of EU banks are exploring or using DLT, with 22% already implementing DLT applications. Furthermore, on the securities side, there has been an increasing number of issuances on DLT.

    The role of central bank money and the Eurosystem’s exploratory work

    The ECB is aware that it has a role to play in this work from the very beginning.

    The availability of central bank money to settle transactions using these new technologies is important for two reasons. First, if we don’t use central bank money, other settlement assets – such as stablecoins or tokenised deposits – will be used, which would reintroduce credit risks and fragmentation in the financial system. And second, the possibility to settle in central bank money is seen by the market as a key factor in the adoption of new technologies.

    The Eurosystem has already worked with the market to test settling wholesale transactions in central bank money using DLT. In exploratory work we carried out in 2024, for example, we offered three different solutions to link our TARGET services to market DLT platforms. This allowed industry participants to either settle real transactions in central bank money or conduct experiments with mock transactions.[19]

    This exploratory work stands out at the global level in terms of its scale and scope. Overall, 60 industry participants took part, including incumbents and new entrants. More than 40 experiments and trials covered a wide range of securities and payments use cases, including the first issuance of an EU sovereign bond using DLT. A total value of €1.6 billion was settled via trials over a six-month period, exceeding values settled in comparable initiatives in other jurisdictions.

    Next steps

    In the short term, the Eurosystem will aim to make it possible to settle DLT transactions in central bank money, with a view to enabling the further development of DLT on the market.[20] The technological solution will be based on interoperability between market DLTs and the Eurosystem, but also – and this is crucial – between market platforms, based on strong and enforceable standards.

    Looking further ahead, we will investigate how DLT can be used to create a more integrated financial market. With new technology, there is the opportunity to create a new ecosystem from scratch in a more integrated and harmonised manner. One way to achieve this integrated ecosystem in the longer term would be to move towards a European shared ledger. This would bring together token versions of central bank money, commercial bank money and other digital assets on a shared, programmable platform, on which market participants could provide their services. Another option could be the coordinated development of an ecosystem of fully interoperable technical solutions, which might better serve specific use cases and enable legacy and new solutions to coexist.

    The trade-offs between the benefits of such flexibility and those of bringing everyone together on one platform need further analysis. We will reflect on these trade-offs and refine this long-term vision together with private and public sector stakeholders.

    Conclusion

    In the current fast-moving environment, Europe cannot stand still. If we do not bring central bank money into the digital age, we will hamper Europe’s competitiveness, resilience and strategic autonomy. And we will miss out on the opportunities that digital payments and digital finance offer. Others would reap the benefits instead.

    By ensuring that central bank money keeps pace with digitalisation and new technologies, we would safeguard our monetary sovereignty. We would overcome fragmentation by offering money that can be used for any digital transactions in the euro area. We would foster competition and innovation. And we would strengthen our autonomy and resilience.

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Plan to tackle £70 million in unclaimed benefits in Highland

    Source: Scotland – Highland Council

    Independent research shows that there is an estimated total of £70 million of unclaimed benefits in the Highland area, including £6.9 million unclaimed pension credits affecting 3000 people.  

    This means that thousands of people across Highland are currently missing out on additional financial help they are entitled to.  Securing these additional sources of income will support people to live independently and well in their communities. 

    Convener Bill Lobban added: “We are proposing the establishment of a Commission, funded by £0.300m of Reserves, to accelerate our approach to tackling poverty by identifying direct actions to shape service delivery, improve early intervention and develop integrated approaches to tackling poverty and inequality in Highland. The work would also link to other Council Delivery Plan themes such as employability, housing and health and wellbeing.” 

    Leader of the Council Raymond Bremner said: “Our proposed investment programme would target £0.870m to deliver direct support and consider ways to improve our collective approach to tackling poverty and inequality in the Highlands. This will be supported by increased funding of £0.250m to support new posts in existing Welfare services to help people draw down more of their entitled benefits. 

    “Proposals also include investing £0.320m to increase the provision of Pupil Equity Funding direct to schools and to provide targeted support within schools and the wider community to support those families experiencing poverty, as well as maximising the take-up of unclaimed welfare benefits.”  

    You can find help and advice with regard to welfare on our website. https://www.highland.gov.uk/welfare 

    Budget proposals will be considered by Council at its meeting on 6 March. 

    28 Feb 2025

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Our Hon’ble Prime Minister Shri Narendra Modi is absolutely right in his vision to combat the problem of Obesity: Mr. Luke Coutinho

    Source: Government of India

    Our Hon’ble Prime Minister Shri Narendra Modi is absolutely right in his vision to combat the problem of Obesity: Mr. Luke Coutinho

    We need to have regulation and awareness about junk food for children and adults, which is contributing towards the obesity epidemic: Mr. Luke

    Posted On: 28 FEB 2025 4:19PM by PIB Delhi

    Our Hon’ble Prime Minister, Shri Narendra Modi, is absolutely right in his vision of combating this problem of obesity, said Mr. Luke Coutinho while visiting an Anganwadi Center in New Delhi today. Mr. Luke Coutinho is a renowned holistic health coach and co-founder of Luke Coutinho Holistic Healing Systems. He is on a visit to Delhi to attend a media conclave.

    Talking about nutrition, Mr. Luke said that three issues need to be focused on. First, early start at child level to get their nutrition right, second, the right education about nutrition in different languages across our diverse country and, third, access to local superfoods like millet. He added that we need to have regulation and awareness about junk food for children and adults, which is contributing towards the obesity epidemic.

     

    Praising the Prime Minister Shri Narendra Modi, Mr. Luke said that “Shri Modi has encouraged us to use local superfoods. We can maintain a natural balanced diet with these foods and support the macros of proteins, carbohydrates and fat “.

    Supporting the mission against obesity, he said that “Everyone should take personal responsibility as an Indian citizen to do our part and choose the right food, exercise every day and focus on our mental & emotional health “.

    Mr. Luke said that to overcome obesity, our Prime Minister has spoken about a reduction in edible oil in our foods by 10 percent. He added that “we need awareness and mindfulness and Ghar-ka-khana (home cooked food) has to be promoted and it will require the unity of the country, honoring the Prime Minister’s vision and all of our personal responsibility to make India healthy “.

    ****

    MV/AKS

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Siu Lam Integrated Rehabilitation Services Complex officially opens (with photos)

    Source: Hong Kong Government special administrative region

    Siu Lam Integrated Rehabilitation Services Complex officially opens (with photos)
    Siu Lam Integrated Rehabilitation Services Complex officially opens (with photos)
    *********************************************************************************

         The Chief Secretary for Administration, Mr Chan Kwok-ki, officiated at the Opening Ceremony of the Siu Lam Integrated Rehabilitation Services Complex (the Services Complex) today (February 28), and joined participating guests in witnessing the launch of the largest integrated rehabilitation services complex in Hong Kong to showcase the Government’s support and commitment to persons with disabilities and their carers.     Addressing the ceremony, Mr Chan expressed gratitude to the organisations and groups that had contributed to the project. He commended the design of the Services Complex for making full use of its spatial advantages as well as incorporating smart technology and rehabilitation equipment to create a safe and comfortable living environment for the service users. He was also pleased to learn that the Services Complex smoothly implements a medical-social collaboration model, where close communication and flexible arrangements enable quality medical services for the residents with fewer hospital visits. He called on different sectors to continue to foster cross-sectoral collaboration and make joint efforts in taking forward innovation and improvement in rehabilitation services, as well as serving persons with disabilities and their families with compassion, thereby building a caring and inclusive community.     Mr Chan said that the Government has long been attentive to the needs of persons with disabilities and the development of rehabilitation services. The estimated recurrent expenditure of the Social Welfare Department (SWD) on rehabilitation and medical social services has reached $12.6 billion in 2025-26, a 35 per cent increase in comparison with that of five years ago, which demonstrates the Government’s commitments in supporting persons with disabilities. The Government will continue to strive for service enhancements, including the provision of additional places for rehabilitation services, so that the total number of such service places will reach around 39 900 by 2028-29 for meeting the keen demand for support services for persons with disabilities.     At the ceremony, Mr Chan, accompanied by the Secretary for Labour and Welfare, Mr Chris Sun; the Permanent Secretary for Labour and Welfare, Ms Alice Lau; and the Director of Social Welfare, Mr Edward To, presided at the unveiling ceremony of the Services Complex. A tour of the residential care and day training facilities of the Services Complex was also arranged for the guests prior to the ceremony to showcase to them the relevant service operations.     Located at 12 and 20 Hong Fai Road, Siu Lam, Tuen Mun, the Services Complex, which has commenced operation in phases starting from December 2023, was designed and constructed by consultants and contractors commissioned by the SWD. The Services Complex is operated by the Tung Wah Group of Hospitals, SAHK and the New Life Psychiatric Rehabilitation Association, providing a total of 1 150 residential care places and 560 day training places for mentally handicapped persons, physically handicapped persons as well as persons in mental recovery. Incorporating ample communal space and large glass windows to improve ventilation and provide sufficient natural light, the Services Complex integrates with the surrounding environment to allow service users to enjoy the beautiful scenery.

     
    Ends/Friday, February 28, 2025Issued at HKT 19:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Rail Sea Rail (RSR) Mode Coal Movement Almost Doubles in Two years to 54 MT in FY 24

    Source: Government of India

    Rail Sea Rail (RSR) Mode Coal Movement Almost Doubles in Two years to 54 MT in FY 24

    Push to Coal Ministries Efforts to Make Coal Transportation Competitive: Indian Railways Notifies Telescopic Benefit in Freight Rate to Coal Movement RSR Mode

    Posted On: 28 FEB 2025 3:26PM by PIB Delhi

    The Ministry of Coal has taken initiatives to promote Rail-Sea-Rail (RSR) which aims to integrate the RSR transportation for efficient movement of coal. This multi-modal system allows for seamless transportation of coal from mines to port and to their end users, while improving logistical efficiencies.

    The RSR mode reduces congestion on the all-rail route (ARR) by providing additional alternative mode of coal evacuation and ensures lower carbon-footprint compared to ARR mode of coal movement. The coastal shipping mode of transportation has potential to revolutionize India’s logistics industry.

    Over the last few years Ministry of Coal has made significant strides in use of the coal Rail-Sea-Rail (RSR) networks for evacuation of coal in coordination with Railways. As a result, the coal movement which was 28 MT in FY22 has almost doubled to 54 MT in FY 24 and is on the increasing trend.

    To achieve further increase in RSR mode for coal movement, Indian Railways has notified in February 2025 their decision to permit telescopic benefit in freight rate to coal movement to power houses transported from coal mines of CIL and its Subsidiaries. This would further aid in increasing the coal movement in RSR mode.

    At present movement of domestic coal from mines has been taking place through Rail-Sea-Rail (RSR) route in order to meet demand of various power plants. This involves movement of coal by rail in two legs i.e. from mines to Unloading Port as first leg and from subsequent Loading Port to power plants as second leg.  As a matter of policy, the charging of both the legs of rail transportation was done separately and independently by Railways.

    The telescopic benefit reduces rail freight for coal movement as compared to charging coal freight in both legs separately, resulting in reduced cost of transportation in RSR mode.

    This decision of Railways will aid in increasing the volume of coal movement further in RSR mode and promote coastal shipping.

    The Ministry of Coal remains committed to enhancing the Rail-Sea-Rail Coal Evacuation strategy to consistently meet the nation’s growing energy demands, ensuring a resilient and efficient energy supply system.

    ****

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong) organised by Hong Kong International Legal Talents Training Academy and Ministry of Justice concludes

    Source: Hong Kong Government special administrative region

         The two-week National Training Course for Talents Handling Foreign-related Arbitration (Hong Kong), organised by the Hong Kong International Legal Talents Training Academy and the Ministry of Justice, concluded today (February 28).

         The Deputy Secretary for Justice, Dr Cheung Kwok-kwan, attended the closing ceremony this afternoon and expressed gratitude to the Ministry of Justice, the China University of Political Science and Law, and the China Legal Service (H.K.) Limited for their support and assistance that was crucial to the success of the training course. He also extended his gratitude to the participants for their active participation. He further mentioned that the Academy will continuously organise more tailor-made training programmes to give full play to Hong Kong’s unique strength in nurturing more foreign-related legal talent for the country.

         The two-week training course for more than 80 participants, comprising Mainland in-house counsel, experienced arbitrators, lawyers and arbitration practitioners, commenced last Monday (February 17). Speakers of the training course included members of the Hong Kong International Legal Talents Training Expert Committee and experienced local legal professionals.

         The Academy will capitalise on Hong Kong’s bilingual common law system and international status and continue to leverage the unique advantages of enjoying the strong support of the motherland and being closely connected to the world under the “one country, two systems” principle. Also, it will promote exchange of international legal talent and reinforce Hong Kong’s status as a centre for international legal and dispute resolution services in the Asia‑Pacific region, in order to develop Hong Kong as a capacity-building centre and play a better role in the construction of foreign-related rule of law of the country.

    MIL OSI Asia Pacific News

  • MIL-OSI United Kingdom: Winchester City Council Approves Budget for 2025/26

    Source: City of Winchester

    Winchester City Council has approved a balanced budget for the upcoming year, which supports vulnerable people, addresses the climate emergency, improves recycling and protects our environment.  

    The budget sets out a commitment to the roll out of weekly food waste recycling collections to all households later this year with £595,000 allocated this year (£460,000 as one-off funding).

    It has a strong emphasis on supporting vulnerable people, with additional funding to help prevent homelessness (an additional £300,000) and a revision of income bands for the council tax reduction scheme – ensuring that support continues to be received after the changes to the DWPs universal credit scheme.

    Recognising the ongoing impact of the cost of living, the council has also extended the Council Tax Exceptional Hardship Fund into 2025/6.

    The budget also allocates funding to increase capacity for planning enforcement cases, to help protect the district’s communities, its heritage and the natural environment from harmful unauthorised development.

    The budget has been aligned to help achieve the council’s priorities following approval of the new council plan, which was developed following public consultation. The Plan’s priorities include:

    • Going Greener Faster
    • Thriving Places
    • Healthy Communities
    • Good homes for all

    The council has committed to do this in a way that’s:

    • Efficient and effective
    • And where it’s listening and learning

    The full council meeting also approved an average council tax increase of 2.7%.  For a Band D property, the City Council’s share of the council tax bill will be £163.66 per year (an increase of £4.30 per year).

    The council’s immediate financial position is stable. However, as with many local authorities, it faces increasing budget pressure long term, which it is addressing through its transformation programme, focusing on reviewing contracts, creating an effective and efficient digital service and generating more income.

    Speaking about the budget, Cabinet Member for Finance and Performance Cllr Neil Cutler said:

    “I’m very pleased that we continue to be able to present a balanced budget for the forthcoming year. It is a budget that ensures we continue to enhance services for our residents and invest in projects that will create healthier communities, tackle climate change, increase access to housing and make the district a more vibrant place for residents, visitors and businesses. It also recognises future funding challenges which we’re addressing ahead of time. While we don’t have the same urgency as some of our neighbours, we expect government funding to reduce in future so we need to plan for these now.”

    MIL OSI United Kingdom

  • MIL-OSI United Nations: A letter from a mother in Gaza: Hardships, heartbreak and hope

    Source: United Nations MIL OSI b

    Health

    ‘‘This story doesn’t start from day one. It starts from nine months ago – the day I learned I was going to be a mother.”

    That day was in November 2023, around a month into the war in Gaza. Ala’a is among an estimated 155,000 pregnant women and new mothers in the Gaza Strip who for the past year have been forced to give birth under fire, in tents, while fleeing bombs and often without assistance, medication or even clean water.

    “The sound of the rockets and bombs was louder than my happiness, but I decided that with my little baby, we would overcome all difficulties,” she wrote in a letter thanking the tireless health staff who helped her deliver her baby in a field hospital in Khan Younis.

    “We will survive whatever happens.”

    UNFPA

    A letter from a mother in Gaza.

    Catastrophic situation

    The situation for pregnant women in Gaza is catastrophic: Exhausted, weak from hunger, with health services nearly completely destroyed and none of the hospitals fully operational, they have few places to turn for care and treatment.

    After hundreds of attacks on medical facilities, just 17 out of 36 hospitals are even partially functioning.

    Fuel and supplies are also running dangerously short, health-care workers are being killed or forced to flee and those that remain are stretched thin at a time when Gaza’s whole population is facing a surge in injuries, illnesses and diseases, including the first case of polio in over 25 years.

    Perils of displacement

    More than 500,000 women in Gaza have lost access to vital services like pre- and postnatal care, family planning and treatment for infections. Among them, over 17,000 pregnant women are on the brink of famine.

    “After seven months, I was forced to leave my home and live in a tent,” Ala’a continued in her letter. “I cried a lot, feeling that my brave baby would never see the walls of his room that I had always dreamed of preparing for him.”

    But, her anguish didn’t end there, as she was soon evacuated yet again.

    “It was a cry from the depths of my heart [that I had] to give birth out of my home,” wrote Ala’a. “After 50 days I fled under fire, running, screaming and crying because of the bombs. At that moment, I feared I might lose my baby.”

    Some 1.9 million people are currently displaced in Gaza, many of whom have already been forced to move multiple times over the past year. Since the start of the war, miscarriages, obstetric complications, low birth weight and premature births are reported to have risen at alarming rates, mainly due to stress, malnutrition and a near-total lack of maternity care.

    Recalling her time escaping the bombardments, Ala’a wrote, “We are here, starting from nothing – no shelter, no home, not even a destiny. We built a tent again, and we promised each other again that we must survive, whatever happens.”

    A glimmer of light

    “Two weeks later I felt some pain…It was labour pains! [I thought] ‘No. It’s too early, I want to give birth at home.’”

    After four days of labour, Ala’a visited a field hospital in Khan Younis run by UK-Med, a humanitarian non-governmental organization (NGO) that has a specialised maternity unit supported by the United Kingdom and the UN agency for sexual and reproductive health, UNFPA.

    “I came for a check-up and everything was great,” she continued. “The midwife and nurses were kind and warm. I spoke to Dr. Helen, and she encouraged me to come and give birth there.”

    When the time came, they made sure Ala’a delivered her baby safely.

    “I went directly to the hospital at 2am and all the midwives were ready. But, they told me there was no way for a natural birth, it was too dangerous.”

    UNFPA provides the hospital’s maternity unit with reproductive health kits and supplies and ensures staff can offer comprehensive care, including for obstetric emergencies.

    Ala’a and her newborn Mohammad have recovered well, despite the ongoing war and lack of clean water, food or security.

    “It was the best decision to come here to give birth,” she wrote. “I like that they smile all the time even though they are under pressure. They are a great team.”

    © UK-Med

    More than 500,000 women in Gaza have lost access to vital health services.

    Health care under fire

    The impact of the war in Gaza on women and girls is staggering: More than 500,000 women have lost access to vital services like pre- and postnatal care, family planning and treatment for infections; over 17,000 pregnant women are in severe stages of hunger.

    UNFPA and its partners are dedicated to providing reproductive health support, distributing life-saving medicines, medical equipment and supplies and deploying teams of midwives and health-care workers at both official and makeshift camps.

    Six mobile maternal health units have also been set up in field hospitals to deliver emergency obstetric care to mothers and their newborns wherever they are. But it is impossible to provide continuous support without a ceasefire, full access to health services and sustained funding.

    Despite all the hardships she has endured, Ala’a refuses to lose heart.

    “From Mohammad, my son, thanks for everything,” she wrote, expressing gratitude to the staff at the hospital.

    “We are grateful for you. I hope that we meet again in better times.”

    Donate to UNFPA here.

    MIL OSI United Nations News

  • MIL-OSI: No. 5/2025 – Notice to convene annual general meeting

    Source: GlobeNewswire (MIL-OSI)

    Nasdaq Copenhagen                                                                                   
    Nikolaj Plads 6
    DK-1067 Copenhagen K   

    Copenhagen, 28 February 2025
    ANNOUNCEMENT no. 5/2025

    CEMAT A/S
    Company reg. (CVR) no. 24 93 28 18
    Annual general meeting

    The Board of Directors hereby convene the annual general meeting of Cemat A/S (the “Company”) for Wednesday, 26 March 2025, at 1:00 pm at the office of DLA Piper Denmark, Oslo Plads 2, 2100 Copenhagen OE, Denmark.

    Agenda

    The agenda of the annual general meeting is the following:

    1. The management’s report on the Company’s activities during the past financial year.
    1. Presentation of the audited annual report for adoption.
    1. The Board of Directors’ proposal for appropriation of profit or covering of loss according to the adopted annual report.
    1. Presentation of and indicative vote on remuneration report.
    1. Approval of the Board of Directors’ fees for the current financial year.
    1. Election of members to the Board of Directors.
    2. Appointment of auditor.
    1. Proposals from the Board of Directors or shareholders.
    1. Any other business.

    Complete proposals

    Re item 1     The management’s report on the Company’s activities during the past financial year.

    The Board of Directors proposes that the general meeting takes note of the management’s report.

    Re item 2     Presentation of the audited annual report for adoption.

    The Board of Directors proposes that the general meeting adopts the annual report.

    Re item 3     The Board of Directors’ proposal for appropriation of profit or covering of loss according to the adopted annual report.

    The Board of Directors proposes that the profit for the year as recorded in the Annual Report as adopted by the general meeting be carried forward to next year.   

    Re item 4     Presentation of and indicative vote on remuneration report.

    The Board of Directors proposes that the general meeting adopts the presented remuneration report.

    Re item 5     Approval of the Board of Directors’ fees for the current financial year.

    The Board of Directors proposes that members of the Board of Directors will receive the basic fee of DKK 220,000 for the financial year 2025.

    The chairman of the Board of Directors will receive the basic fee multiplied by a factor of 2.5, and the vice-chairman will receive the basic fee multiplied by a factor of 1.75.

    Re item 6     Election of members to the Board of Directors.

    The Board of Directors proposes to re-elect:

    Frede Clausen, chairman, born 1959
    Professional board member
    Various banking qualifications
    Graduate Diploma in Business Administration
    Elected chairman in 2018
    Other duties and offices:
    Frede Clausen Holding ApS (CEO)
    Core Poland Residential V (board member)
    Malik Supply A/S (chairman)
    Developnord A/S (chairman)
    Søndergaard Holding Aalborg ApS (chairman)
    Palma Ejendomme ApS (chairman)
    Ejendomsselskabet Gøteborgvej 18 ApS (vice-chairman)
    PL Holding Aalborg A/S (chairman)
    Radioanalyzer ApS (chairman)
    Independent
    Special qualifications: Strategic management, business development and real estate
    Languages: Danish and English

    Eivind Dam Jensen, vice-chairman, born 1951
    Estate Agent
    Member of the Danish Association of Chartered Estate Agents
    Diploma in Administration
    Elected vice-chairman in 2005
    Other duties and offices:
    Owner of Chartered Estate Agency E. Dam Jensen
    Chairman and sole shareholder of A/S Eivind Dam Jensen
    Owner of Brundtland Golfcenter (via A/S Eivind Dam Jensen)
    Non-independent
    Special competences: Purchase, sale, valuation and letting of commercial and
    investment properties and property management
    Languages: Danish, English and German.

    Joanna L. Iwanowska-Nielsen, born 1968
    Real Estate Expert
    Degree in International Trade, Organisation and Management
    from the Warsaw School of Economics
    Joined the Board of Directors in 2016
    Directorships and other managerial positions:
    Member of the board of directors of Sustainable Malkowo
    Advisor to the Board of Directors, Ecofarm Foundation
    Member of the board of directors of Coille Righ Green Energy, Scotland
    Member of the board of directors of WildaNova
    Member of the board at NielsenNielsen Ltd (UK)
    Managing Partner in NOLTA Consultants and NOLTA Career Experts
    Board Member of EPI (European Property Institute) think tank
    Member of Warsaw Women in Real Estate & Development
    Founding Member of Women in Global Health’s CEE Chapter
    No directorships in other Danish companies
    Independent
    Special qualifications:
    Experience in the real estate trade in Poland, CEE and
    internationally (development, strategy, sales and project
    management in both the commercial and residential property
    sectors, including sustainable housing, farming enterprises and energy solutions)
    EMCC accredited business coach & mentor
    Languages: Polish, English and Russian.

    Brian Winther Almind, born 1966
    Executive Vice President, DSV Group Property
    Joined the Board of Directors in 2023
    Other duties and offices:
    Shipping agent – Ellegard Transport, of which 2 years were in Verona, Italy
    Traffic manager – DFDS Transport
    Traffic manager – DHL A/S
    Executive Vice President – DSV A/S since 1997
    Directorships and other managerial positions:
    Member of the board in several companies owned by DSV A/S
    Network – European Logistics Forum (ELF), VL 111
    No directorships in other Danish companies
    Special competences:
    Generel management, business development, integration of companies. Property in relation with purchase of land, public sector handling, project management, building activities, purchase and sale, leasing, law, strategy, finances, various large projects in more than 90 countries.  
    Languages: Danish and English.

    Re item 7     Appointment of auditor.

    The Board of Directors proposes that BDO Statsautoriseret Revisionsaktieselskab be reappointed.

    Re item 8     Proposals from the Board of Directors.

    No proposals have been received from the board of directors or executive board

    General information

    The Company’s nominal share capital amounts to DKK 4,997,006.06, divided into 249,850,303 shares of DKK 0.02 each. Each share of DKK 0.02 entitles the holder to one vote.

    The Company has concluded a connection agreement with VP Securities A/S. The financial rights of the shareholders may thus be exercised through VP Securities A/S.

    Requirements for adoption

    Items 2-7 considered at the general meeting will be determined by a simple majority of votes, see article 10.1 of the Company’s articles of association as well as section 105 of the Danish Companies Act.

    The Company’s website

    This notice, including the agenda, remuneration report, information about the total number of shares and voting rights on the date of the notice and proxy, postal voting and registration forms for ordering an entry card, will be made available to the shareholders on the Company’s website, www.cemat.dk, under “Investor/General Meetings” from 28 February 2025.

    This notice has also been published via Nasdaq Copenhagen A/S, the IT system of the Danish Business Authority and the Company’s website as well as by e-mail to the shareholders having requested e-mail notification of general meetings when stating their e-mail addresses.

    Date of registration

    The shareholders will be entitled to exercise the right to vote attaching to the shareholders’ shares, by attendance at the Company’s general meetings or by post pro rata to their shareholding at the date of registration, which is one week before the general meeting.

    The date of registration is Wednesday, 19 March 2025.

    The shareholding of each individual shareholder will be determined at the end of the date of registration based on the number of shares held by the shareholder according to the register of shareholders as well as any notice of ownership received by the Company for the purpose of registration in the register of shareholders, but not yet been registered. In order to be registered in the register of shareholders and included in the calculation, notices of shareholdings must be documented by a transcript from VP Securities A/S or other similar documentation. This documentation must be received by the Company before the end of the date of registration.

    Only the persons who are shareholders of the Company on the date of registration will be entitled to participate and vote at the general meeting but see below regarding the shareholders’ timely request for entry cards.

    Accordingly, any person who has purchased shares, whether by transfer or otherwise, will not be entitled to vote on the shares in question at the general meeting, unless he or she has been recorded in the register of shareholders or has notified the Company and provided documentation of his or her acquisition, no later than on the date of registration, which is Wednesday, 19 March 2025.

    Entry cards

    In order to participate in the general meeting, the shareholders must request an entry card for the general meeting no later than Friday, 21 March 2025. Entry cards may be requested electronically via www.cemat.dk until Friday, 21 March 2025, at 23:59 using MitID or custody account number and password on the Company’s shareholder portal. Shareholders registering for the general meeting electronically will immediately receive a confirmation of their registration.

    It is also possible to request an entry card by forwarding a completed registration form to the Company’s keeper of the register of shareholders, Computershare A/S, Lottenborgvej 26D, 2800 Kongens Lyngby, Denmark, which must receive the form by Friday, 21 March 2025 at 23.59. The registration form is available at www.cemat.dk.

    Please notice that ordered admission cards will no longer be sent out by ordinary mail.

    Admission cards ordered via the shareholder portal will be sent out electronically via email to the email address specified in the shareholder portal upon registration. The admission card must be presented at the annual general meeting either electronically on a smartphone/tablet or in a printed version.

    Admission cards can be picked up at the entrance of the general meeting upon presentation of a valid ID.

    Proxy

    Shareholders are entitled to attend by proxy. An electronic proxy instrument may also be submitted via the shareholder portal until Friday, 21 March 2025, at 23:59.

    The complete proxy form must be received by the Company’s keeper of the register of shareholders, Computershare A/S, by Friday, 21 March 2025, at 23:59. The proxy form is available at www.cemat.dk.

    Postal voting

    Shareholders may elect to vote by post, i.e., by casting their votes in writing, before the general meeting, instead of attending the general meeting and voting there.

    Shareholders who elect to vote by post may submit their postal vote electronically via the shareholder portal or send their postal vote to Computershare A/S where it must be received by Tuesday, 25 March 2025, at 16:00.

    Once received, a postal vote cannot be recalled. Please note that letters may sometimes take several days to reach their destination.

    Questions

    Shareholders will have an opportunity to ask questions to the agenda as well as to the other materials for the general meeting before the general meeting.

    Any questions concerning this announcement may be directed to info@cemat.dk.

    Cemat A/S

    Frede Clausen
    Chairman of the Board of Directors

    This announcement has been issued in Danish and English. In case of any inconsistencies, the Danish version will prevail.

    Please write to investor@cemat.dk to deregister from this mailing list.

    Attachment

    The MIL Network

  • MIL-OSI United Kingdom: New traffic calming measures to be introduced

    Source: Scotland – City of Perth

    The measures, devised in conjunction with community representatives and local Elected Members, aim to reduce vehicle speeds within each village and deter unnecessary commercial traffic along certain routes.

    The work will be completed in phases, starting with the installation of ramps across the main roads at the entrances to the villages of Abernyte, Balbeggie, Burrelton/Woodside, Guildtown, and Meigle.

    This work is scheduled to take place throughout March, ahead of the new road’s opening.

    The Council will monitor vehicle speeds and consult with each community before deciding on the installation of additional ramps or speed cushions within the villages.

    In addition, the 20mph speed limits in the centres of Burrelton, Coupar Angus, Meigle, and Scone will be extended to cover all residential streets, aligning with other communities in the area.

    Further measures will include the installation of Puffin crossings and electronic vehicle-activated signs in communities currently lacking these safety features. The Council will continue to assess and prioritise future road safety projects in consultation with local elected members and community councils.

    Councillor Eric Drysdale, Convener of Perth and Kinross Council’s Economy and Infrastructure Committee said: “The opening of Destiny Bridge and New Kingsway will make a huge difference to traffic flow and reduce journey times but will lead to a rise in traffic in some areas.

    “We are committed to ensuring the safety and well-being of our residents. These traffic calming measures are essential to manage the expected increase in traffic and to maintain the quality of life in our villages.

    “We will work closely with the communities to monitor the effectiveness of these measures and make any necessary adjustments.”

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: City leaders reaffirm that innovation and growth remains priority

    Source: City of Leeds

    In response to the Government’s announcement of delays to the development of the new hospital at Leeds General Infirmary, leaders from Leeds City Council, the West Yorkshire Combined Authority, the University of Leeds, Leeds Beckett University and Leeds Teaching Hospitals NHS Trust have reaffirmed their unwavering commitment to innovation and growth across the city.

    The partnership has confirmed it would continue to deliver on its long-term vision for driving innovation and growth in the city to create a healthier, greener and more inclusive future for all.

    This follows the confirmation of funding and a start date of between 2033 and 2035 for the development of the new hospital at Leeds General Infirmary.

    Despite the Government’s announcement of delays to the development of the new hospital at Leeds General Infirmary, City leaders are pleased to announce that plans for the Leeds Innovation Village, a key neighbourhood within the city’s £2 billion Leeds innovation Arc, and one of the flagship projects of the £160 million West Yorkshire Investment Zone – will still go ahead, with ambitions to start construction later this year.

    The Village, which is set to bring about £13 billion in economic growth for the city and around 4,000 jobs will continue and is already into its first phase. This includes the redevelopment of the Old Medical School on the Leeds General Infirmary site into a cutting-edge healthtech innovation hub by one of the UK’s most active, privately-owned, mixed-use developers, Scarborough Group International.

    Dame Linda Pollard DBE DL Hon. LLD, Chair of Leeds Teaching Hospitals NHS Trust said:

    “Our plans for a new hospital are more than healthcare and play a pivotal role in harnessing innovation and stimulating growth across Leeds and beyond. Despite the announcement of disappointing delays to our new hospital at Leeds General Infirmary, plans for the Leeds Innovation Village will still go ahead, with early phases already underway.”

    The development of a new hospital at Leeds General Infirmary, alongside wider plans to boost growth and innovation across the city, are a central part of the West Yorkshire Mayor’s local growth plan, which aims to boost the region’s fastest growing business sectors with a special focus on health and life sciences, in line with the Government’s emerging national industrial strategy.

    This latest commitment builds on a wide range of successful innovation assets across the Innovation Arc including:

    · The successful and vibrant community of innovators and entrepreneurs at Nexus, a state-of-the-art innovation hub on the University of Leeds campus. Nexus has raised £134m in private investment since launching in 2019, with a return on investment of £1.92 for every £1. To date, it has worked with 191 companies and brings together the brightest minds in business, technology and academia and cites over half of its member businesses as healthtech innovators.

    · Leeds Teaching Hospital’s fast-growing Innovation Pop Up, located in the Innovation Village on the Leeds General Infirmary site, has grown its membership to over 50 industry members

    during its first three years and is currently collaborating on around 40 projects with industry partners. The Pop Up brings work nationally and internationally to bring together world-leading clinicians and healthtech industry partners to grow innovation, research and technology for the benefit of patients.

    · Leeds Becket University’s £80m Leeds School of Art building which provides industry standard facilities for over 2500 students and 100 staff studying and researching in film, TV, technology, sound, music, drama, dance and fashion. The centre provides wider cultural and industry partnerships across Leeds.

    · An envisaged route of the West Yorkshire Mayor’s Mass Transit system would see trams run along the spine of the Innovation Arc, linking Leeds station and the South Bank to Harehills. This would bring modern, sustainable transport modes to the heart of the Innovation Arc, reducing north-south travel times, creating potential hubs around stops, and providing connections to the wider area.

    The renewed commitment will see Leeds continue its journey as one of the UK’s most stable, forward-thinking and attractive locations for health and care research and innovation. With the backing of strong collaborative leadership, Leeds ranks as the third most attractive location for healthtech firms which are ready to launch or looking to move, having the highest number of biomedical scientist undergraduates in the country and being home to nine of the top 10 investors in research and development.*”

    Tracy Brabin, Mayor of West Yorkshire, said:

    “As the home of NHS England and Europe’s largest teaching hospital, Leeds is an international magnet for health innovation, and there is no setback that can stop us from realising our potential.

    “With our multimillion-pound Investment Zone driving the development of the Old Medical School into a world-leading centre of medical and technological innovation, we will deliver jobs and growth here in West Yorkshire while transforming the lives of patients worldwide.

    “We will also continue to make the case for the all-important new hospital at Leeds General Infirmary to be built as soon as possible, as part of our wider plans to build a well-connected Innovation Arc across the city of Leeds through our new Mass Transit system, driving growth.

    Councillor James Lewis, leader of Leeds City Council said:

    “We remain absolutely committed to our long-term vision for the city of stimulating innovation and economic growth that drives and delivers measurable impact towards a healthier, greener and inclusive future for all.

    “The Leeds Innovation Village, a key neighbourhood within the city’s £2 billion Innovation Arc, will progress as planned, and we’re excited about the potential it holds to drive economic growth, create jobs, and improve healthcare. The transformation of the Old Medical School into a new cutting-edge health innovation hub will further solidify Leeds’ position as a global healthtech hub.”

    -ENDS-

    For further information, please contact Jessica Hardman, Head of Communications (BtLW), Leeds Teaching Hospitals NHS Trust, Jessica.hardman3@nhs.net

    Notes

    This recommitment has been made by:

    Professor Phil Wood, Chief Executive, Leeds Teaching Hospitals NHS Trust; Cllr James Lewis, Leader, Leeds City Council; Tracy Brabin, Mayor, West Yorkshire Combined Authority; Professor Shearer West, Vice-Chancellor and President, University of Leeds; Professor Peter Slee, Vice Chancellor, Leeds Beckett University.

    *Pursing excellence report, an independent analysis of Leeds’ research and innovation in health and care, March 2024 (commissioned by Leeds Academic Health Partnership)

    The Leeds Innovation Arc, the city’s £2billion city centre science park, is a global destination for people, investment and innovation in one of the UK’s fastest growing and greenest cities with an ecosystem addressing the biggest societal challenges of our time through collaborative, diverse and innovative solutions. The Arc is home to some of the most significant innovation assets in the north of England, both public and private sector, including our two biggest universities, the hospital and Nexus at the University of Leeds, a hub for an increasing number of innovative businesses including SeeAI, Itecho Health and Atlas Endoscopy.

    Leeds City Council’s work as a city on innovation builds on our participation in the prestigious Massachusetts Institute of Technology Regional Entrepreneurship Accelerator Program (MIT REAP) which fueled Leeds’ drive to grow the regional innovation ecosystem and bench mark ourselves and our progress.

    The Government review into the New Hospital Programme, which the new hospital at Leeds General Infirmary was part, has now concluded. The Secretary of State for Health announced on Monday 20 January that the new hospital at Leeds General Infirmary has been included in Wave 2 of the programme and will not now start construction until some time between 2033-2035.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Lancaster City Council sets its budget for 2025/26 Maintaining a resilient financial foundation and protecting essential services are at the heart..

    Source: City of Lancaster

    Lancaster City Council has set its budget for 2025/26

    Maintaining a resilient financial foundation and protecting essential services are at the heart of Lancaster City Council’s budget for 2025/26, which was agreed on Wednesday (February 26).

    Like many local authorities, the city council has to deal with increases in its operating costs, along with higher interest rates, and a real-terms cut in core funding from the Government.

    Following months of hard work by officers and councillors, a balanced budget has been achieved for 2025/26 without use of reserves.

    The city council’s component of Council Tax, its most stable source of funding, will increase by an average of 2.99%, or 14p a week, for a Band D property. Once again, this increase is lower than the percentage hikes imposed by other authorities that receive the majority of residents’ council tax payments.

    In the next financial year, Band D property residents will pay an average of £5.08 a week (£264.30 a year) to the city council for the services which it provides.

    As 80% of the district’s homes are in the lowest bands (A to C) the actual increase will be lower for most households. The council has also agreed to continue 100% Council Tax Support benefit for those on the lowest incomes, one of a minority of local authorities in England to do so.

    Councillor Tim Hamilton-Cox, cabinet member with responsibility for finance, said: “As with all public services, the city council remains under pressure financially but is determined to protect the vital services it provides for the community.

    “With those significant challenges in mind I can be satisfied that we have delivered a balanced budget, maintained the range of our services and external grants, and ensured that we can continue to invest in the future of our district.

    “A majority of councillors supported the £27m (which includes over £6m of external funding) programme of capital investment in 2025/26. The programme includes replacement of half of the refuse collection vehicle fleet in order to maintain reliability of service; investment in the council’s existing assets to reduce operating costs; and in new assets to generate new long-term income streams for the council.”

    2024/25

    2025/26

    Increase

    £

    £

    £

    %

    Lancashire County Council

    1,653.29  

    1,735.79

    82.50

    4.99

    Lancashire Police & Crime

    263.40

    277.40  

    14

    5.32

    Lancashire Fire Authority

    84.73

    89.73

    5.90

    Lancaster City Council  

    256.63

    264.30

    7.67

    2.99

    Total

    2,258.05     

    2,367.22

    109.17

    4.83

    In addition, residents living in areas with a parish council pay an additional precept to their parish council.

    Last updated: 28 February 2025

    MIL OSI United Kingdom