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BII and ADB Trade and Supply Chain Finance Program sign $100m risk sharing agreement to promote green trade in Asia, including Vietnam
- BII and ADB forge partnership to increase access to finance to facilitate trade of green goods
- The risk sharing agreement will help international banks increase financing support to local banks in South and South East Asia, starting off in Vietnam
- The collaboration addresses demand for longer-tenor finance to support climate related projects particularly within the renewable energy sector
HANOI, Vietnam, Jan. 18, 2024 /PRNewswire/ — British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, and Asian Development Bank (ADB), the regional development bank for Asia and the Pacific, today announced a new partnership to finance up to $100 million of green trade transactions in the region. The partnership will be managed through ADB’s Trade and Supply Chain Finance Program (TSCFP) and will focus on renewable energy, energy efficiency and climate-smart agriculture to support the region’s energy transition and climate resilience.
In South and South East Asia, two of the most vulnerable regions to climate change, enabling development of more renewable energy capacity and its supply chain is essential to achieve the region’s sustainability goals.
Trade is a critical part of this as it enables the flow of goods that help regions to mitigate and adapt to the impacts of climate change. However, it is estimated that there is a global trade finance gap of $2.5 trillion annually, which means businesses lack access to the finance needed to trade energy transition goods for climate projects. Furthermore, local banks are currently not able to fully meet the demand to provide longer tenors required to finance goods for climate related projects, particularly within the renewable energy sector.
The BII-ADB partnership aims to reduce the global trade finance gap and address this unmet demand for longer tenor for green transactions. The risk sharing agreement between the two organisations will help international banks increase their financing support to local banks, initially in Vietnam, before expanding to other countries supported by BII and ADB.
This will provide crucial financing for local importers of solar panels, wind turbines, electric vehicles, and agricultural goods which will support the region to transition to cleaner sources of energy.
Andrew Mitchell, UK Minister for Development and Africa, said: “This agreement between BII and the Asian Development Bank will unlock crucial green trade finance in Asia. It demonstrates how, by working together, the development finance system can mobilise the private finance so urgently needed to support countries in their transition to low carbon, climate-resilient economies.”
Srini Nagarajan, Managing Director and Head of Asia at BII, commented: “Supporting sustainable development in South and South East Asia is a key priority at BII. Green trade finance enables supply chain development of the renewable energy industry and tackles the bottleneck for much needed long tenor financing in the region. We are delighted to work with ADB, a strong partner with extensive knowledge and network in Asia, on a shared ambition to support the region’s energy transition and build climate resilience.”
Suzanne Gaboury, Director General for Private Sector Operations at ADB, said: “This collaboration with BII will strengthen ADB TSCFP’s capacity to further grow green supply chains in Asia-Pacific region, with a focus on energy transition goods that are essential for tackling climate change.”
The BII-ADB Green Trade Finance Facility supports SDG 7 on Affordable and Clean Energy and SDG 13 on Climate Action. The transaction is led by Freddie Tucker, Investment Director, Trade and Supply Chain Finance at BII.
Notes to editors:
About British International Investment
- British International Investment is the UK’s development finance institution and impact investor.
- British International Investment is a trusted investment partner to businesses in Africa, Asia and the Caribbean.
- It invests to support the UK Government’s Clean Green Initiative and to create productive, sustainable and inclusive economies in our markets.
- Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance.
- BII is also a founding member of the 2X Challenge which has raised over $16 billion to empower women’s economic development.
- The company has investments in over 1,470 businesses across 65 countries and total assets of £8.1 billion.
- For more information, visit: www.bii.co.uk | watch here.
- Follow British International Investment on LinkedIn and X.
About Asian Development Bank’s Trade and Supply Chain Finance Program
- The Asian Development Bank (ADB) supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
- TSCFP works to make global trade and supply chains green, resilient, inclusive, transparent, and socially responsible.
- TSCFP empowers countries to meet the Sustainable Development Goals by closing market gaps through guarantees, loans, and knowledge products.
- Since 2009, the TSCFP has supported $57 billion in trade across 45,510 transactions (60 per cent SME-related).
- In addition to delivering guarantees and loans to close trade finance gaps, ADB’s Trade and Supply Chain Finance Program (TSCFP) has a history of delivering transformative initiatives: ADB’s Global Trade Finance Gaps Study; The ICC Trade Register; Deep-Tier Supply Chain Finance White Paper; Digital Standards Initiative.
- For more information, visit: https://www.adb.org/what-we-do/trade-supply-chain-finance-program.
- Follow ADB TSCFP on LinkedIn.
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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
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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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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