Fintech PR
OPEC Fund delivers record results in 2023 with US$1.7 billion in development funding
VIENNA, Jan. 29, 2024 /PRNewswire/ — The OPEC Fund for International Development, a multilateral development finance institution headquartered in Vienna, Austria, expanded its new commitments to US$1.7 billion across 55 projects globally in 2023, providing funding to address climate change and energy transition, support social and economic resilience and boost sustainable growth. The organization was established 48 years ago and the 2023 results represent a record in new commitments.
OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said: “In 2023, the OPEC Fund increased its impact through the delivery of development support in a challenging global environment. We grew our lending program across the board in response to strong demand by our partner countries and thanks to our success in raising additional funds from the capital markets. We were also able to leverage our partnerships to mobilize development support by working with multilateral development banks and development finance institutions such as the Arab Coordination Group. And we are well on track with our 2030 target to commit 40 percent of all new financing to climate action.”
In 2023, the OPEC Fund delivered strong results across Africa (42 percent of investments), the Middle East and North Africa & Europe and Central Asia (20 percent), Latin America & the Caribbean (20 percent), as well as Asia and the Pacific (18 percent) through public and private sector lending, trade finance and grants operations.
The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent). In cooperation with financing partners, the OPEC Fund supported sustainable development government programs in Botswana (US$100 million), Cote d’Ivoire (US$74 million), Armenia (US$54 million), North Macedonia (US$54 million), Colombia (US$150 million) and Paraguay (US$100 million) to bolster economic, social and climate resilience.
The transport and storage sector received the major share of OPEC Fund’s support (14 percent) with the OPEC Fund helping to build roads and sustainable transport infrastructure for improved connectivity in India (US$100 million), Kyrgyz Republic (US$15 million), Tajikistan (US$10 million), Uzbekistan (US$47 million) and Bosnia and Herzegovina (US$28 million).
Aligned with the OPEC Fund Climate Action Plan, support in renewable energy projects constituted nearly 60 percent of all lending in the energy sector. The OPEC Fund supported the development of a solar plant in Niger (US$25 million), a 240 MW wind farm in Azerbaijan (US$50 million) and two wind power plants in Uzbekistan totalling 1 GW of renewable energy capacity (US$40 million). OPEC Fund energy sector investments also included projects to promote energy security in Tanzania (US$30 million) and Bangladesh (US$60 million), aligned with Sustainable Development Goal (SDG) 7 – Clean and affordable energy.
In the financial sector, the OPEC Fund provided US$171 million, partnering with governments and local banks to provide on-lending to small and medium-sized enterprises, promoting job creation and access to finance in Albania, Botswana, Paraguay and Vietnam. US$273 million of trade finance was offered to partner banks to support the movement of critical commodities and goods in developing economies.
Aligned with its Food Security Action Plan, the OPEC Fund provided US$59 million to promote agricultural sustainability and fisheries in Benin, Liberia and Zimbabwe. The institution also dedicated US$104 million towards education, US$61 million to water and sanitation and US$50 million to health projects primarily in Africa and Asia.
Successful development delivery in 2023 was also fuelled by the OPEC Fund’s debut in the capital market, which the institution tapped for the first time in its history in January. The issuance of the OPEC Fund’s benchmark SDG bond raised US$1 billion for sustainable development projects. The OPEC Fund’s excellent standing in the market was confirmed in December when the international rating agency Standard & Poor’s assigned the OPEC Fund a credit rating upgrade to AA+ with stable outlook, citing its “ambitious growth agenda”.
In 2023, the OPEC Fund continued to expand partnerships with peer institutions including the Asian Development Bank (ADB), the African Development Bank (AfDB), the Arab Coordination Group (ACG), the European Bank for Reconstruction and Development (EBRD), Islamic Development Bank (IsDB), the International Atomic Energy Agency (IAEA), the United National Industrial Development Organization (UNIDO), and the World Food Programme (WFP) among others.
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 about US$27 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.
CONTACT:
Basak Pamir
T+43151564174
[email protected]
Photo – https://mma.prnewswire.com/media/2328662/OPEC_Fund___Building_Inside.jpg
Logo – https://mma.prnewswire.com/media/1899865/4517478/OPEC_Fund_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/opec-fund-delivers-record-results-in-2023-with-us1-7-billion-in-development-funding-302046644.html
Fintech PR
Strictly Money Launches Crowdcube Campaign, Inviting European Investors to Fuel its Growth Journey
LONDON, Dec. 27, 2024 /PRNewswire/ — Strictly Money Ltd, the London-based fintech, has launched a crowdfunding campaign on Crowdcube to invite European investors to fuel its next phase of growth. Crowdcube, Europe’s largest private market investment platform, has powered success stories like Revolut, Qonto, and Monzo. Regulated by the UK’s Financial Conduct Authority (FCA), Crowdcube provides a trusted and innovative platform for investors to participate in transformative ventures.
Strictly Money’s primary objective with this campaign is to accelerate its growth, fuel product development, and expand its shareholder base. The funding will enable Strictly Money to launch its payment card and banking app in early 2025 and to strengthen its market presence in Scandinavia, the UK, and Ireland. The company plans to introduce hedge fund returns products, broadening investment options for consumers by the end of 2025.
Discover how you can be part of Strictly Money’s growth journey by visiting our Crowdcube campaign at https://crowdcube.getstrictlymoney.com.
Will Povey, CEO and Co-Founder of Strictly Money, said: “At Strictly Money, our vision is to empower everyday investors with access to wealth-building tools and opportunities that were previously reserved for high-net-worth individuals. With this crowdfunding campaign, we aim to bring together a diverse community of investors who share our passion for financial innovation and inclusivity. This funding will not only help us launch our innovative debit card and app but also drive the development of new products that deliver real value to our users.”
About Strictly Money:
Strictly Money is a UK-based financial technology company set to launch a debit card and a cutting-edge banking app in early 2025. The company aims to democratize access to high-performing hedge fund returns, providing innovative investment strategies and financial solutions tailored to investors, savers, and entrepreneurs. Strictly Money’s mission is to open up premium investment opportunities traditionally limited to high-net-worth individuals (HNWIs). For more information, visit https://strictly-money.com.
For media inquiries contact:
Mary Prendergast
Email: [email protected]
Important Notice:
Investing in startups and early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Please read the full Risk Warning on Crowdcube’s website before deciding to invest.
Logo – https://mma.prnewswire.com/media/2588210/Strictly_Money_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/strictly-money-launches-crowdcube-campaign-inviting-european-investors-to-fuel-its-growth-journey-302339702.html
Fintech PR
Bybit Web3 Wallet Integrates Tonstakers: The First of Its TON Staking Offerings to Expand DeFi Opportunities
DUBAI, UAE, Dec. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange,is excited to announce the integration of Tonstakers, the leading liquid staking protocol on the TON blockchain, into its Web3 Wallet. This marks the first of Bybit Web3’s TON staking offerings, reinforcing its commitment to expanding decentralized finance (DeFi) opportunities for its users.
With this integration, Bybit Web3 Wallet users can now seamlessly stake Toncoin ($TON) and receive $tsTON (Tonstakers LST) in return. The value of $tsTON increases relative to $TON every 26 hours, ensuring competitive rewards while contributing to the growth and success of the TON ecosystem. The integration also opens the door for 130 million users in the TON ecosystem to access TON staking directly within the Bybit Web3 Wallet.
Bybit is dedicated to simplifying DeFi adoption by providing intuitive and user-friendly staking experiences. This milestone partnership with Tonstakers enables users to unlock annual returns estimated between 3% and 5% APY, with rewards automatically compounded, further cementing Bybit’s role as a leader in DeFi accessibility.
Why Tonstakers Matters: The First of Its Kind
Tonstakers is the inaugural partner in Bybit Web3’s TON staking initiative, setting a new standard for staking services. With a total value locked (TVL) exceeding $260 million and a significant market share in the liquid-staked TON sector, Tonstakers offers Bybit Web3 Wallet users unparalleled access to TON staking benefits:
- Effortless Staking: Securely stake $TON with ease, thanks to the user-friendly interface within the Bybit Web3 Wallet.
- Earn $tsTON Rewards: Receive tokenized staked Toncoin ($tsTON), which can be leveraged within DeFi applications across the TON ecosystem.
- Explore DeFi Liquidity: Engage with Tonstakers Earn to provide liquidity using $tsTON, unlocking diverse earning opportunities.
“Bybit Web3 is proud to deepen our integration with the TON blockchain, a crucial step in our mission to foster a thriving and interconnected Web3 ecosystem,” said Emily Bao, Head of Bybit Web3. “This integration empowers our users with seamless and trusted access to TON liquid staking pools and unlocks valuable earning opportunities. As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Start Staking Today To begin staking your $TON and earning with $tsTON, visit https://www.bybit.com/en/web3/staking and discover the power of Bybit Web3 Wallet’s integration with Tonstakers. Bybit Web3 Wallet currently supports a wide range of staking services beyond TON tokens, including ETH, USDT, USDC, bbSOL, SUI, and more.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2588103/Bybit_Web3_Wallet_Integrates_Tonstakers_The_First_Its_TON_Staking.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-web3-wallet-integrates-tonstakers-the-first-of-its-ton-staking-offerings-to-expand-defi-opportunities-302339604.html
LAS VEGAS, Dec. 27, 2024 /PRNewswire/ — Yaber reported a remarkable 100% year-over-year sales surge during Black Friday. The T2 outdoor projector, featuring a built-in battery and handle-to-stand design, ranked among Amazon’s Top 3 “Most Wished For” list. Meanwhile, the L2s projectors, available in exclusive Pantone colors, sold out shortly after launch.
Yaber T2 projector is currently available at Christmas sale on Amazon and the official Yaber website. Meanwhile, pre-orders for the L2s projectors in exclusive Pantone colors will reopen in mid-January 2025.
This year, Yaber further expanded its global retail presence, debuting at the iconic Selfridges in the UK and securing placements in MediaMarkt across EMEA, Canada’s London Drugs, Saudi Arabia’s EXTRA, Belgium’s FNAC, Greece’s PUBLIC, Czech Republic’s Datart, Japan’s Bic Camera and Yodobaxi, and Malaysia’s premier IOI City Mall and Plaza Low Yat.
Looking ahead, Yaber is set to unveil its first ultra-short-throw laser projector and a new Keith Haring-inspired entry-level model at CES 2025. The launch event will take place at 4:00 PM PST, January 6, 2025 at Caesars Palace, Las Vegas. Visit Yaber’s booth in South Hall 1-30808 at Las Vegas Convention and World Trade Center (LVCC) from January 7-10 to discover more.
About Yaber
Founded in 2018, Yaber redefined home entertainment by introducing the world’s first entertainment projector, pioneering a new category in the industry. Today, its innovative projectors have delivered immersive experiences to users in over 120 countries, making Yaber a trusted name in global home entertainment.
The letter “Y” in Yaber embodies the youthful vigor and innovative spirit of Generation Y. It’s not just a symbol, but a unique representation of youth identity and attitude towards life, infusing the brand with rich cultural connotations of youthfulness within simplicity.
Committed to excellence, Yaber has been pushing the boundaries of audiovisual innovation, crafting projectors that inspire richer, more vibrant lifestyles. Its achievements are recognised with prestigious accolades, including the Red Dot, IDEA, VGP, and CES Innovation Awards.
Photo – https://mma.prnewswire.com/media/2588098/Yaber_achieves_100__YOY_sales_growth_Black_Friday.jpg
Logo – https://mma.prnewswire.com/media/2348478/5093200/Yaber_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/yaber-achieves-100-yoy-sales-growth-during-black-friday-and-gears-up-for-ces-2025-302339600.html
-
Fintech PR4 days agoGCL Energy Technology and Ant Digital Technologies Launch First Blockchain-Based RWA Project in Photovoltaic Industry
-
Fintech PR3 days ago2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
-
Fintech PR4 days agoBybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
-
Fintech PR4 days agoCKGSB Successfully Hosts 2024 MBA Professor Training Program for Western China
-
Fintech PR5 days agoH.I.G. Realty Announces Strategic Partnership with Queen Mary BioEnterprises Innovation Centre in London
-
Fintech PR5 days agoDesigning for the future: SM’s vision through an architect’s lens
-
Fintech PR4 days agoAIMA Technology Welcomes Top U.S. Dealers to Shape the Future Together
-
Fintech PR4 days agoFXGiants Online Trading Platform Launches Bonus Initiative to Reward Traders