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OPEC Fund approves over US$600 million in new financing for global development
VIENNA, Dec. 14, 2023 /PRNewswire/ — The OPEC Fund for International Development (the OPEC Fund) has approved more than US$600 million in new development financing at the meeting of its Governing Board today and in the final quarter of 2023.
The 18 new projects reflect the OPEC Fund’s commitment to advancing sustainable social and economic development in its partner countries. The new funds will support projects in the transportation, health, education and energy sectors, and will promote climate action and food security, and bolster international trade.
OPEC Fund Director-General Abdulhamid Alkhalifa said: “In 2023 we continued to strengthen our impact and increase commitments in support of sustainable social and economic development in our partner countries all across the globe. The new projects approved today will empower communities and improve living conditions for millions of people, while promoting climate resilience, food security, international trade and better health and education services.”
The OPEC Fund Governing Board approved the following projects:
Public sector operations:
China: A US$50 million loan will support the financing of the Jiangxi Vocational Education Project to expand and strengthen vocational education in the Jiangxi province and provide market-oriented education for about 5,000 students every year.
Comoros: A US$17 million loan will co-finance the El-Maarouf Hospital Project, improving the existing hospital infrastructure and extending its capacity by 300 beds to provide modern healthcare services to the island state’s population.
Liberia: A US$20 million loan will support the Mano River Union Road Development and Transport Facilitation Project (Liberia Section). The upgrading of the existing road infrastructure will facilitate trade between Liberia and Sierra Leone by reducing travel times and increasing trade volumes.
Madagascar: A US$30 million loan will support the co-financing of the Facilitation of Commerce Corridors Project, enabling the interconnection of the Island’s southern region and integrating commercial road and sea networks. This will increase access to remote areas, increase economic activity and improve living conditions.
Malawi: A US$20 million loan will co-finance the Shire Valley Transformation Program, Phase II, providing access to sustainable irrigation services and promoting the commercialization of agricultural production in the south of Malawi to the benefit of nearly 50,000 households and smallholder farmers.
North Macedonia: A €50 million loan will co-finance a Sustainability and Resilience Program for the implementation of policy reforms to promote climate action in the energy and financial sectors, strengthen the sustainability of public finances and safeguard the stability of the financial sector.
Paraguay: A US$50 million loan will co-finance the Rehabilitation, Upgrading and Maintenance of National Route PY22 (Concepción Vallemi-San Lazaro) and Access Roads Project. This will improve the connection between the Port of Vallemi and the city of Concepción, promoting regional integration and trade.
Senegal: A €38.03 million loan will co-finance the Cities Modernization Program, which will develop urban roads and improve social and economic infrastructure in the six cities Podor, Richard-Toll, Ourossogni, Mékké, Dahra and Kébémer.
Tajikistan: A US$10 million loan will co-finance the Guliston-Farkhor-Panj-Dusti Road Reconstruction Project (Phase 1) to improve the efficiency and quality of Tajikistan’s road network and to promote the country’s potential for international transit traffic.
Tanzania: A US$41 million loan will co-finance the Upgrading Kagwira-Karema Port Road Project (Kasekese-Karema section). The upgraded transport infrastructure will raise living standards in the Katavi region in the Western part of the country by unlocking economic opportunities in trade, agriculture, fisheries and tourism.
Türkiye: A US$50 million loan to the Development and Investment Bank of Türkiye (TKYB) will co-finance a Food Security and Resilience Project providing immediate financial support to the agriculture and food production sectors, particularly in provinces affected by the February 6, 2023 earthquakes.
Private sector and trade finance operations:
Armenia: A US$20 million loan to a bank in Armenia will support on-lending to micro, small and medium-sized enterprises, including women-owned enterprises and in-country climate projects.
Azerbaijan: A US$50 million loan to ACWA Power Wind Azerbaijan Renewable Energy will support the construction of a 240 MW Khizi-Absheron wind power plant, strengthening electricity supply, diversifying the energy-mix and reducing carbon emissions.
Bangladesh: A US$30 million loan to a local bank will support international trade by providing financing to import and export companies, especially in the agriculture and green energy sectors.
Nepal: A US$25 million loan to a local bank will increase access to finance for micro, small and medium-sized enterprises, including women-owned firms as well as climate-smart projects.
Uganda: A US$25 million loan to a power company will help construct a 42 MW run-of-river hydroelectric power plant.
Uzbekistan: A US$35 million loan to a local bank will support food security and climate action projects.
Regional Africa: A US$40 million participation in a trade finance facility will promote the international trade of agricultural products and benefit at least 600,000 small-holder farmers in sub-Saharan Africa.
About the OPEC Fund
The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$24 billion to development projects in over 125 countries with an estimated total project cost of US$190 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA, Outlook Positive by S&P. Our vision is a world where sustainable development is a reality for all.
Contact:
Basak Pamir
T+43151564174
[email protected]
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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