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G7 DFIs, MedAccess, EIB, and IFC Announce MoU for Surge Financing Initiative for Medical Countermeasures
Media Kit: DFC at UNGA 2024
NEW YORK, Sept. 24, 2024 /PRNewswire/ — Today, participating G7 development finance institutions (DFIs), MedAccess, the European Investment Bank (EIB), and the International Finance Corporation (IFC) announced the signing of a memorandum of understanding (MoU) for the Surge Financing Initiative for Medical Countermeasures (MCMs). These DFIs are working closely with global and regional health organizations to establish the collaboration frameworks and innovative financing mechanisms needed to support a rapid and equitable pandemic response. Building on lessons from the COVID-19 pandemic, the initiative will focus on the procurement, production, and distribution of vaccines, therapeutics, diagnostics, and other MCMs for low- and lower-middle-income countries. The MoU builds on the Joint Statement of Collaboration announced at UNGA last year as well as the Chair Summary and Report that outlined collaboration and innovating financing options. This effort is a joint collaboration between participating G7 DFIs, MedAccess, EIB, and IFC, in accord with G7 Hiroshima Vision for Equitable Access to Medical Countermeasures launched at the 2023 Hiroshima Summit and reaffirmed at the 2024 Apulia Summit.
The MoU was signed by the U.S. International Development Finance Corporation (DFC, USA), Cassa Depositi e Prestiti (CDP, Italy), British International Investment (BII) & MedAccess (UK), KfW & Germany’s Development Finance Institution DEG (Germany), AFD & Proparco (France), JICA (Japan), EIB (European Union), and IFC (World Bank Group). The MoU also has support from the Government of Canada and leading global and regional health organizations.
This work builds on ongoing collaboration across many DFIs on regional manufacturing in Africa. The ongoing Mpox public health emergency underscores the importance of this collaboration and need for surge financing. Leveraging this initiative, DFIs met with leading global health organizations including the World Health Organization, Africa Centres for Disease Control and Prevention (Africa CDC), Gavi, and the Coalition for Epidemic Preparedness Innovations (CEPI) on August 22, soon after Mpox was declared a public health emergency of international concern, to discuss response efforts and financing needs.
“DFC is proud to support this first-of-its kind framework to ensure DFIs can act swiftly and cohesively to provide surge financing for life-saving products at the start of a health emergency. We expect to leverage this initiative for the Mpox response, working closely with our U.S. Government, development finance, and health partners More broadly, DFC’s investments in health services, supply chains, and technology all help bolster pandemic preparedness and health system resilience.” said DFC DCEO Nisha Biswal.
“JICA believes this surge financing initiative will enhance coordination among development finance institutions and health organizations to achieve our commitment to work towards equitable access to safe, effective, quality-assured and affordable MCMs for health emergencies, which Japan announced as Chair of the 2023 G7 Summit in Hiroshima. Leveraging this initiative and JICA’s own lessons learned from the COVID-19 pandemic, we will continue to support countries that have suffered from inequitable access to MCMs in the past,” said Chief Representative of JICA USA Office Satoko Tanaka.
“IFC is proud to participate in this innovative framework to support medical countermeasure financing mechanisms, an important step for responding more effectively to future health crises. Collaboration between development finance institutions and global health partners is key to ensure coordinated efforts that strengthen healthcare systems and supply chains, enhancing pandemic preparedness.” IFC Vice President of Industries Mohamed Gouled.
“DEG and KfW are committed to the UN Sustainable Development Goals, one of which is improving healthcare,” said Member of the DEG Management Board Monika Beck. “Therefore, we are delighted to support this initiative to provide financing for healthcare products during health emergencies, together with our trusted development finance partner institutions. We are convinced that it is essential to join forces to support improved access to critical health products when they are in short supply.”
“Sustainable development is linked to equitable and rightful access to health and well-being. As CDP, we strongly support this initiative, which has been mentioned in the G7 Leaders’ final declaration last June at the Apulia Summit, that will foster the development of health systems across emerging economies, ensuring the foundation is laid for research, production, and distribution of essential medicines, diagnostic equipment, and vaccines. The COVID-19 pandemic underscored the critical need for every nation to be equipped with the tools to safeguard public health in times of crisis. Achieving the 2030 UN SDGs will require robust global collaboration, and we are proud to partner with G7 DFIs, the European Investment Bank, and the International Finance Corporation to help make this vision a reality.” said CDP Director of International Development Cooperation Paolo Lombardo.
“The COVID-19 pandemic showed us the value of working together but also the need to coordinate our actions more closely,” said EIB Vice President Thomas Östros. “With joint efforts, we can multiply our impact and effectiveness, especially in meeting current challenges such as Mpox and in tackling future health emergencies. At the EIB, global health is a key priority, and we highly value this partnership.”
“The MoU is an important step towards strengthening global health security and reducing the impact of future pandemics on vulnerable populations. This furthers our commitment, as the UK’s DFI, to invest in businesses that provide essential health services and products, including vaccines. It will ensure that future health crises can be mitigated to allow continued economic growth and social progress in low- and middle-income countries,” said BII Chair Diana Layfield.
“When critical health products are in short supply, fast and flexible capital can make the difference between life and death,” said CEO of MedAccess Michael Anderson. “The COVID-19 pandemic showed how quickly global supply chains can grind to a halt when overwhelming demand meets scarce supply. This led to inequitable distribution of medical products, leaving millions of people at risk from the disease. Today’s announcement underlines our shared commitment to being prepared for future pandemics with the capital and financial tools to enable companies to meet large-scale, urgent demand for lifesaving products.”
“A lesson learned from the COVID-19 crisis is that it is possible to mobilize significant public and private financial resources in turbulent times. Let’s use this experience of successful mobilization to anticipate effective pandemic preparedness. I believe this Memorandum of Understanding is one of the necessary steps towards better coordination among Public Development Banks to mobilize the private sector and demonstrates the catalytic power of joining forces for innovative financial instruments, as explored by Finance in Common and its Social Investment Coalition. Health is a common good, no one should be left behind in the face of a pandemic,” said Rémy Rioux, CEO of AFD Group (AFD, Proparco, and Expertise France) and Chairman of Finance in Common Summit in Paris.
The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
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View original content:https://www.prnewswire.co.uk/news-releases/g7-dfis-medaccess-eib-and-ifc-announce-mou-for-surge-financing-initiative-for-medical-countermeasures-302257771.html
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THE 10 KG 99.99% PURE GOLD THE DANCE SCREEN (THE SCREAM TOO), A ONE-OF-A-KIND COIN FROM THE ROYAL CANADIAN MINT, SURPASSES $1.5 MILLION AT HEFFEL AUCTION
OTTAWA, ON, Nov. 21, 2024 /PRNewswire/ — The Royal Canadian Mint is delighted that the one-of-a-kind 2024 10 kg 99.99% Pure Gold Coin – The Dance Screen (The Scream Too), an exquisite numismatic tribute to the art of acclaimed Haida master carver Chief 7IDANsuu (James Hart), sold for $1,561,250.00 CAD (including Buyer’s Premium), after a live auction conducted by Heffel Fine Art Auction House (Heffel). This rare, pure gold masterpiece was sold to an anonymous bidder on November 20, 2024, and beat the previous record for a coin offered at auction in Canada, held by The Ultimate, a one kilo pure platinum coin also produced by the Royal Canadian Mint.
“We are thrilled by the collector interest in this unique coin and delighted that the skill of the Royal Canadian Mint and the talent of Chief 7IDANsuu (James Hart) have been recognized by the buyer of this rare and beautiful 10 kg pure gold masterpiece,” said Marie Lemay, President and CEO of the Royal Canadian Mint.
“It has been an extraordinary privilege to auction The Dance Screen (The Scream Too) 10kg pure gold coin,” said David Heffel, President of Heffel Fine Art Auction House. “The profoundly significant artwork by the esteemed Chief James Hart, showcased on its face, stands as an enduring icon of Canadian art, embodying the rich traditions and cultural narratives of the Haida Nation. We are honoured to have placed this masterpiece in a distinguished collection and look forward to seeing its legacy continue to inspire.”
Impeccably crafted from 10 kg of 99.99% pure Canadian gold, The Dance Screen (The Scream Too) re–creates carved images from the original red cedar panel carved by Chief 7IDANsuu on its reverse. The reverse design of the flagship coin of the 2024 Opulence Collection brings together traditional Haida figures—a Shaman, the Beaver, Raven, Eagle, Frog, Orca and Mother Bear with cubs—whose life deeply depends on the Salmon, represented in human and animal form along the edge. Six pearlescent pieces of responsibly sourced abalone shell are inlayed along the coin’s edge, where their aquatic hues shimmer in the light and their shapes evoke the Haida copper shields that serve as traditional markers of wealth. The imposing coin’s obverse features the effigy of His Majesty King Charles III by Canadian artist Steven Rosati, surrounded by an engraving of subtle sketch lines from the original carving.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours.
As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.
For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedIn, Facebook and Instagram.
About Heffel Fine Art Auction House
Since 1978, Heffel has connected passionate collectors across the world with outstanding works of art, with sales totaling nearly $1 billion. With offices in Toronto, Vancouver, Montreal, Ottawa and Calgary, Heffel has the most experienced team of fine art specialists in Canada and provides superior client service to both sellers and buyers internationally.
For more information, media are asked to contact: Royal Canadian Mint, Alex Reeves, Senior Manager, Public Affairs, 613-884-6370, [email protected]; Heffel Fine Art Auction House, Rebecca Rykiss, National Director, Brand and Communications, 416-961-6505 ext. 323, [email protected]
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
TEL AVIV, Israel, Nov. 21, 2024 /PRNewswire/ — Israel Corporation Ltd. (TASE: ILCO) (“ILCO”) announced today its third quarter results for the period ending September 30, 2024.
|
Selected Financial Figures for the Third Quarter 2024: |
||
|
$m |
Q3/24 |
Q3/23 |
|
ILCO share in ICL profit1 |
49 |
59 |
|
Financing income, G&A and other expenses at ILCO headquarter level |
– |
(1) |
|
Tax income of ILCO Headquarters |
– |
– |
|
Net profit to company’s shareholders |
49 |
58 |
Liquidity at the ILCO Headquarters Level2
As of September 30, 2024, total financial liabilities were $722 million, and investments in liquid assets amounted to $843 million of which $313 million are pledged deposits.
Net cash1 as of September 30, 2024, totaled $84 million. The net cash includes the fair value of derivatives transactions, which increases the economic value of the financial liabilities by $37 million. As of June 30, 2024, the net cash was $64 million.
Additional updates
On March 27, 2024, ILCO Board of Directors decided on distribution of dividend at the sum of $37m, this in accordance with the company’s dividend policy announced in January 2023. The payment date was April 17, 2024.
On July 17, 2024, S&P Maalot, reaffirmed ILCO’s credit rating of ilA+/stable.
ILCO financial results of ILCO are mainly affected by the results of its investees. For more details see detailed financial report.
|
ILCO Total Assets, Net |
|
|
$m |
30/09/2024 |
|
Assets |
|
|
ICL (~567m shares, market value4) |
2,427 |
|
AKVA Group (~6.6m shares, market value4) |
35 |
|
Other5 |
11 |
|
Total Assets |
2,473 |
|
ILCO’s Net Cash |
84 |
|
Total Assets, net |
2,557 |
About Israel Corporation
Israel Corporation Ltd. (TASE: ILCO) (“ILCO”) is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.
In November 2019, ILCO announced its updated strategy, ILCO plans to expand its portfolio through new investments over the next few years. ILCO plans to focus mainly on the food (inc. tech), agriculture (inc. tech), healthcare and industry 4.0 sectors. For more details please see the following link to ILCO updated Strategy Presentation
ILCO strives to generate return on its investment through active board participations and its operational and managerial expertise.
ILCO current core holdings include c.44% stake in ICL Group (NYSE:ICL, TASE:ICL) and c.18% stake in AKVA Group (OB:AKVA). ILCO is publicly traded on the Tel Aviv Stock Exchange under the ticker ILCO and is included in the TA-35 Index.
For further information on ILCO, see ILCO’s publicly available filings, which can be found on the Tel Aviv Stock Exchange website at http://maya.tase.co.il.
Please also see ILCO company website http://www.israelcorp.com for additional information.
Convenience Translation
The financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original in Hebrew.
Forward Looking Statements
This press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of ILCO, which may cause actual results to differ materially from those contained in the disclosures.
Investor Relations Contact
Idan Hizki
Vice President, Business Development & Investor Relations
Tel: +972 3 684 4500
[email protected]
1. Amortization of excess cost
2. Israel Corp and its wholly owned and controlled headquarter companies.
3. Following the end of the quarter, $6m were np longer pledged
4. As of September 30, 2024
5. Includes 1.508m shares in Nordic Aqua Partners (OB:NOAP), after the end of the quarter NOAP successfully completed a financing round of ~NOK 366m, in which ILCO participated slightly above its pro-rata share ending with total shares of 1.98m.
View original content:https://www.prnewswire.co.uk/news-releases/israel-corp-reports-results-for-third-quarter-of-2024-302313398.html
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