Day: 27 February 2024

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Open Society Foundations’ Soros Economic Development Fund Commits $25 Million to Allied Climate Partners’ Climate Finance Partnership

New York, Feb. 27, 2024 (GLOBE NEWSWIRE) — The Soros Economic Development Fund (SEDF), the impact investment arm of the Open Society Foundations, is committing $25 million to Allied Climate Partners (ACP)—a new and innovative public-private partnership focused on increasing the number of bankable climate projects in emerging markets and developing economies around the world.

ACP aims to address a critical financing gap at the early, risk-oriented stages of the development process. Without this support, many projects and businesses struggle to attract the necessary capital to achieve their climate-related goals. While early-stage project development represents the smallest portion of the overall funding needed for a project (approximately 5 percent), relatively few early-stage projects get financed due to risk. Even though 5 percent of the capital can unlock 95 percent, this early-stage capital is the hardest to raise for critical activities like technical and environmental assessments, modeling, permitting, and land acquisition.

Using funds from SEDF and other philanthropic investors, ACP will anchor a number of regional funds in Southeast Asia, Africa, Latin America and the Caribbean, and India with $235 million first-loss junior equity. These regional funds will in turn seek to raise an additional $600+ million in senior equity from multilateral development banks (MDBs), development finance institutions (DFIs), and private investors.

ACP has strategic partnerships with a number of leading MDBs and DFIs, including the International Finance Corporation (IFC), a member of the World Bank Group, U.S. International Development Finance Corporation (DFC), British International Investment (BII), the U.K.’s DFI and impact investor, the African Development Bank (AfDB), Proparco, a subsidiary of Agence Française de Développement Group, FMO, the Dutch Entrepreneurial Development Bank, and IDB Invest, a member of the Inter-American Development Bank Group.

Philanthropic investments in ACP are expected to mobilize a significant level of third-party capital into regional investment managers and climate-related projects—potentially as much as $11 billion in additional investment.

SEDF has partnered with the Three Cairns Group, Bezos Earth Fund, Sea Change Foundation International, and several other philanthropic and investment partners in making this commitment.

Georgia Levenson Keohane, CEO of the Soros Economic Development Fund, said: “This innovative SEDF investment builds on Open Society’s broader work to support the mobilization of development finance and commercial capital critical for financing a just climate transition in the Global South.”

ACP recently announced the anchoring of its first regional fund—the Southeast Asia Clean Energy Fund II. Managed by Clime Capital, the fund is targeting at least $135 million to invest in projects in Vietnam, Indonesia, and the Philippines—countries that account for about 75 percent of the region’s population and 60 percent of current regional greenhouse gas emissions.

Mark Malloch-Brown, president of the Open Society Foundations, said, “The scale of investment needed to drive climate transition and adaptation in Global South economies clearly goes far beyond the capacities of private philanthropic funding. We are excited about this model which seeks to use catalytic funding to remove barriers, and help kick start the broader systemic shifts the world urgently needs.”

“We urgently need innovative blended finance solutions that can operate at scale,” said Ahmed Saeed, CEO of Allied Climate Partners. “ACP welcomes SEDF’s commitment to join this exciting endeavor to leverage the power of philanthropic funding.”

Estimates of how much additional capital countries will need to invest annually to address the costs of climate transition and adaptation vary—one recent study puts the need for external capital at $1.1 trillion per annum. However, investment in transition and adaptation projects globally has been overwhelmingly focused on the industrialized economies, where project risks are lower.

About the Soros Economic Development Fund

The Soros Economic Development Fund (SEDF) is the impact investment arm of the Open Society Foundations (OSF). SEDF deploys patient, risk-tolerant and catalytic capital to advance OSF’s commitment to sustaining vibrant and inclusive democracies across the globe. Founded in 1997, SEDF has committed over $520M in debt, equity and guarantee investments into businesses, funds, platforms and nonprofits across geographies and sectors that advance the mission of the Foundations. SEDF’s current investment portfolio includes $395M in committed capital across 38 investments.

About Allied Climate Partners

Allied Climate Partners (ACP) is a philanthropic investment organization with a mission to accelerate the climate transition and improve livelihoods in emerging economies by increasing the flow of capital to bankable, climate-related projects and businesses. ACP selects regional investment managers in emerging economies and supports them with first-loss capital, expertise, and the mandate to address a critical financing gap at the early, risk-oriented stages of the development process for climate-related projects and asset-oriented businesses. Without this support, many projects and businesses struggle to attract the necessary capital to achieve their climate-related goals. By proving this model, ACP aims to induce commercially-oriented public and private sector investors to invest where they likely would not otherwise.

Communications
Open Society Foundations
(212) 548-0378
media@opensocietyfoundations.org

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The World’s Most Attractive Investment Migration Programs in 2024

LONDON, Feb. 27, 2024 (GLOBE NEWSWIRE) — European residence and citizenship by investment programs continue to dominate the top spots of global wealth advisory firm Henley & Partners’ annual rankings of the most sought-after investment migration programs in the world. Malta holds onto 1st place in the 2024 Global Citizenship Program Index as it has done for nine consecutive years, while the Portugal Golden Residence Permit Program retains top spot on the Global Residence Program Index.

The two indexes — featured in the 2024 edition of the Investment Migration Programs report — offer a systematic analysis and comprehensive benchmarking of the world’s most attractive residence and citizenship by investment programs, providing the gold standard in the sector. This year’s edition includes a total of 39 programs, representing the most relevant of over 100 programs worldwide. These have been appraised by a panel of independent experts, including leading academic researchers, country risk specialists, economists, independent expert immigration and citizenship lawyers, and other specialists, who consider a broad range of pertinent factors. Interactive digital comparisons of the programs are also available, enabling global investors and wealthy families to select what matters most to them when weighing up their options.

Dr. Christian H. Kaelin, international immigration and citizenship law expert and Chairman of Henley & Partners, says, “The publication is important for private clients and wealth management professionals as well as for government policy makers looking to manage investment migration programs to achieve greater fiscal autonomy and economic growth. In this era of heightened global volatility, nation states are using investment migration as an innovative financing tool to fund national or regional social and infrastructure projects as well as development initiatives that mitigate sustainability risks, to the benefit of their citizens and residents.”

Citizenship programs: Malta reigns supreme

The Global Citizenship Program Index ranks 13 programs, with the strategically-located European nation of Malta scoring 77 out of 100 and taking top honors once again. Malta’s Granting of Citizenship for Exceptional Services by Direct Investment Regulations allow for the granting of citizenship by a certificate of naturalization to foreign individuals and their families who contribute to the country’s economic development. This is possible following a 36-month residence period (or 12 months by exception). Malta’s original citizenship program was designed by Henley & Partners in 2013–2014 and went on to become one of the most successful such programs in the world.

Retaining 2nd place with a score of 74 is Austria’s premium citizenship by investment offering, which requires applicants to make a substantial contribution to the Austrian economy. Three Caribbean island nations tie in 3rd position, each scoring 70: the Antigua and Barbuda Citizenship by Investment Program, the Grenada Citizenship by Investment Program, and the St. Lucia Citizenship by Investment Program all offer attractive real estate-linked investment routes and fund options.

Residence programs: Portugal in prime position

Europe also prevails in the 2024 Global Residence Program Index, with programs on the continent occupying the Top 5 positions. The Portugal Golden Residence Permit Program ranks 1st overall out of 26 programs, with a score of 75 out of 100. Each scoring 73, the Austria Private Residence Program shares 2nd place with the Mediterranean’s rising star — the Greece Golden Visa Program, followed closely by the Swiss Residence Program on 72 — an investment option developed by Henley & Partners, which combines private residence with the Swiss forfait tax provisions.

Italy’s Residence by Investment Program is joint 4th with the UK’s Innovator Founder Visa, each scoring 71. The only Top 5 program not in Europe is the Canada Start-Up Visa Program, which scores 69 and shares the 5th spot with another European favorite that is attracting a great deal of attention, the Spain Residence by Investment Program.

Domicile diversification a top priority

Dr. Juerg Steffen, CEO of Henley & Partners, says, “Acquiring alternative residence and/or citizenship programs enables greater flexibility and participation in the world’s leading economies, as well as optionality, which is now an indispensable part of any family’s insurance policy for the 21st century. The more jurisdictions a family can access, the more diversified its assets, the lower its exposure to country-specific, regional, and global volatility, and the more sustainable it will be over the long term.”

Last year, US-Americans were the top nationality applying for alternative residence and citizenship options through Henley & Partners, and this trend has continued into the first quarter of 2024. This year is also projected to be a record-breaker in terms of millionaire migration, according to the Henley Private Wealth Migration Report, with 128,000 high-net-worth individuals forecast to move to a new country, compared to the 120,000 who did so last year, surpassing the pre-pandemic high of 110,000.

Read Full Press Release

Sarah Nicklin
Group Head of PR
sarah.nicklin@henleyglobal.com
Mobile: +27 72 464 8965

GlobeNewswire Distribution ID 1000925589

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ASICS Study Confirms Positive Link Between Exercise and Women’s Mental Health, Yet Worryingly Over Half of Women Around the World Are Dropping Out or Stopping Exercise Completely

ENCOURAGINGLY, STUDY SHOWS THE IMPACT OF INDIVIDUALS AND GRASSROOTS ORGANISATIONS IN SUPPORTING MORE WOMEN TO MOVE; ASICS RECOGNISES THOSE WHO ARE MAKING A DIFFERENCE.

LONDON, Feb. 27, 2024 (GLOBE NEWSWIRE) — Largest global study ever conducted on the gender exercise gap reveals:

  • The more women move, the better they feel. Women who exercise regularly are 52% happier, 50% more energised, 48% more confident, 67% less stressed and 80% less frustrated.
  • But, over half of women are not exercising as much as they would like and missing out on the physical and mental benefits of exercise.
  • All women are facing a myriad of universal challenges and barriers to exercise, throughout their lifetime.
  • Yet, men’s perceptions of these barriers are different to the reality.
  • Encouragingly, around the world people are actively breaking barriers for women in sport; ASICS shines a light on their stories and pledges to help Move Her Mind.
Move Her Mind
Move Her Mind

Move Her Mind Key Visual

This International Women’s Day, ASICS unveils the results of the largest study ever conducted on the gender exercise gap, reaffirming the positive correlation between women’s exercise levels and their mental health, with women 52% happier, 50% more energised, 48% more confident, 67% less stressed and 80% less frustrated when exercising.

Yet, the independent research, conducted on over 25,000 people and led by renowned academics Dr Dee Dlugonski and Professor Brendon Stubbs, alarmingly found that over half of women globally are dropping out or stopping exercise completely, which is negatively impacting their state of mind. In response, ASICS is recognising and amplifying the positive impact of individuals and grassroots organisations who are breaking barriers for women in sport, to support, empower and inspire more women to move.

Worryingly, the global study revealed that over half of women are unhappy with their exercise levels. All women are experiencing barriers to exercise throughout their lifetime, from time pressures (74%) and low self-confidence (35%) to intimidating environments (44%) or not feeling sporty enough (42%). What’s more, almost two-thirds (61%) of mothers cited motherhood as the primary reason they dropped out of doing regular exercise or sport altogether, showing the impact that caregiving responsibilities and societal expectations about gender roles are having on women’s activity levels.

Interestingly, men’s perceptions of the challenges women face were different to the reality. Only 34% of men recognised lack of time as a barrier to exercise for women, despite three-quarters (74%) of women citing the issue. Instead, men thought body insecurities were the leading problem, with 58% of men reporting this as the main barrier, compared to 36% of women. In fact, of the top five barriers to exercise perceived by men, only one (costs) actually featured in the list of most common obstacles reported by women, highlighting a disparity between men’s perceptions and the daily reality felt by women around the world.

Despite this, the research found that over a third of women say their friends are their most important exercise influencers, noting that they’re more motivated to exercise by women like themselves, than celebrities. When asked why they would exercise, encouragingly women universally said for their mental (92%) and physical (96%) health rather than aesthetics.

The study lead, Dr Dee Dlugonski, Assistant Professor at Sports Medicine Research Institute, University of Kentucky said: “Our study showed that the gender exercise gap is a complex challenge which did not develop overnight. Given it has no sole cause, it will not be solved with one single solution, but when asked what could help, women noted that making movement more accessible, inclusive and recognised in all forms, while challenging society’s gendered expectations, would support them in moving more.

“This includes making exercise centred around women and their needs. From providing childcare and catering for all activity levels, to fitting around work, being fun, affordable, safe, welcoming and judgement-free. All these solutions, while small, can have a significant impact and our study uncovered thousands of individuals and organisations around the world who are already driving change.”

This includes people like Karen Guttridge, who as an older woman felt like there were no exercise opportunities locally, so she decided to set up her own running group for women over fifty. Expecting five ladies to join the first session, Karen was overwhelmed when over seventy like-minded women turned up. Offering running programmes for all exercise levels and an inviting, safe and judgement-free space for the women to connect, the group has been an overwhelming success and supported many women to move and feel confident in doing so.

ASICS wants to recognise and celebrate the incredible impact of people like Karen across communities around the world. Today, ASICS is spotlighting the remarkable individuals and organisations, who are actively dismantling barriers for women in exercise and sport. As well as the stories of those who are making a difference, the ASICS Move Her Mind platform contains resources, activities and tips to support more women to move more often.

ASICS knows there are many, many more people and organisations making a difference around the world. This International Women’s Day, ASICS is inviting people to submit their stories and experiences, so more women can be connected, supported and inspired.

Tomoko Koda, Managing Executive Officer for ASICS comments: “ASICS was founded on the belief that sport and exercise benefit the body and the mind. It’s why we’re called ASICS: ‘Anima Sana in Corpore Sano’ or ‘Sound Mind in a Sound Body’. While our study found that many women are not happy with their exercise levels, it also uncovered the tremendous impact that individuals and grassroots organisations are having in helping women to move.

“By launching Move Her Mind, we hope to give these remarkable people a platform, to connect and inspire others, so everyone can achieve a sound mind in a sound body. It’s time more women and girls experience the positive physical and mental benefits of exercise. It’s time for change. It’s time to Move Her Mind.”

Visit the Move Her Mind platform and get involved, at http://www.asics.com/us/en-us/mk/move-her-mind

Notes to Editors:
The study was commissioned by ASICS and led by Dr Dee Dlugonski, Assistant Professor at Sports Medicine Research Institute, University of Kentucky, and Associate Professor Brendon Stubbs of King’s College London. Both are renowned researchers in movement and mental wellbeing.

The study ran from June – September 2023. In total, 26 focus groups took place around the world and 24,772 people completed the online survey across more than 40 countries, making it the biggest study of its kind. All focus groups were led by independent facilitators, including leading academics and industry experts.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe3723d9-16dc-4cb1-ad05-6561904aa4ac


For further information or to organise interviews, please contact moveeverymind@golin.com

GlobeNewswire Distribution ID 1000925585

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Trade, Industry ministry lessens difficulties facing private sector


The Ministry of Industry and Trade has lessened difficulties that might facing the private sector for encouraging the national industrial production.

In return, the General Federation of Yemeni Chambers of Commerce and Industry and the Chamber of Commerce and Industry in the capital Sana’a praised such step for developing the industrial production in Yemen.

In a statement, the Federation and the Chamber appreciated the keenness of the caretaker Minister of Industry, Mohammed al-Mutahar, in stabilize the country’s commodity stock of food and consumer materials, and to overcome the difficulties facing private sector activities to ensure the flow of supply chains.

The statement confirmed that the relationship between the government and the private sector is witnessing momentum in the field of trade facilitation, trademarks, industrial records, corporate regulation, and the business environment.

It pointed to the efforts made by the leadership of the Ministry of Industry to solve the problems facing the priva
te sector importers of food and consumer goods at land and sea ports

Source: Yemen News Agency

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Jordan’s exports to GAFTA reach JD3Bln in 2023Women’s protest in Hajjah in solidarity with Palestinian people

Jordan’s exports to countries within the Greater Arab Free Trade Area (GAFTA) surged by 12.4 percent in the preceding year, positioning the Kingdom atop the roster of trading allies and economic blocs in terms of domestic exports.

Data unveiled by the Department of Statistics and disseminated by the Jordan News Agency (Petra) underscored a notable uptick in the value of national exports to GAFTA countries, with figures soaring to JD3.078 billion, marking a significant rise from the JD2.738 billion recorded in 2022.

Conversely, the value of imports into Jordan from the GAFTA countries experienced a decline of 18.5 percent over the same period, tallying at JD4.711 billion compared to JD5.778 billion in the previous year.

Statistical analysis revealed a reduction in Jordan’s trade deficit with GAFTA countries, shrinking to approximately JD1.633 billion in the previous year from JD3.040 billion in 2022.

The total trade volume between Jordan and GAFTA countries amounted to approximately JD7.789 billion in the
previous year, down from JD8.516 billion in 2022.

Jordanian exports to the GAFTA countries encompass a diverse array of products including fertilizers, pharmaceuticals, fresh and refrigerated fruits and vegetables, skincare products, paints, food preparations, chocolates, furniture, fabrics, textiles, and insecticides.

In contrast, imports into Jordan predominantly consist of crude oil and derivatives, jewelry, dates, wheat, fish, plastic sheets and plates, titanium dioxide, polyethylene, polystyrene, iron and its products, furniture, fruit trees, as well as cheeses, honey, and grains.

The Greater Arab Free Trade Area, established in January 2005, represents a pivotal economic alliance fostering integration and facilitating low-tariff trade among its 18 member Arab countries.

Source: Jordan News Agency

The Women’s Cultural Authority in Al-Shahil District, Hajjah Governorate, organized a stand in solidarity with the Palestinian people.

Participants in the protest condemned the heinous crimes and genocidal massacres committed by the Zionist enemy against the Palestinian people in Gaza.

Source: Yemen News Agency

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Launching coffee planting season and distributing 20,000 seedlings in Sana’a


The Office of Agriculture and Irrigation in Sana’a province and the sector associations in the province launched today,Tuesday, the coffee planting season by distributing 20,000 seedlings to farmers in coffee growing sites in the province’s districts.

At the inauguration in the village of Hamel, the isolation of Imam Al-Hadi, New Sana’a District, the governor’s advisor, Abdullah Al-Marouni, praised the efforts made to promote agricultural development by encouraging farmers to produce coffee as an important economic crop that contributes to supporting the national economy.

He stressed the importance of supporting the Agriculture Office and the Project Finance Unit, agricultural , fisheries initiatives, and encouraging citizens to expand coffee cultivation as a cash crop.

He stressed the keenness to promote coffee cultivation in the province, calling on citizens to turn to agriculture to achieve food security and achieve self-sufficiency in all crops.

Meanwhile, the heads of the Southern and Eastern Sector
Associations, Ali Al-Mudghamr and Abdul-Razzaq Al-Mukharafi, considered the distribution of coffee seedlings to farmers a positive step to encourage them to expand their cultivation and restore its position as one of the main agricultural crops in the province.

They stressed the importance of providing farmers’ needs of production means and requirements to ensure the advancement of the agricultural sector in the province.

The inauguration was attended by the Deputy Director of the Social Affairs Office in the province, Muhammad Al-Rishani, the President of the Yemen 2030 Foundation, Adnan Shibam, and the President of the Isolation Association, Hashim Al-Hamli.

Source: Yemen News Agency

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Launching mosque cleaning campaign in Saada


The office of the General Authority for Endowments in Saada Governorate launched a campaign to clean and prepare the Houses of Allah in preparation for welcoming the holy month of Ramadan.

At the inauguration, the governor stressed the importance of caring for and caring for the houses of Allah, because of the great reward for this work, especially with the arrival of the holy month of Ramadan.

Source: Yemen News Agency

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Sana’a Customs and Control Office destroys quantity of electronic hookahs


Sana’a Customs and Control Office destroyed today,Tuesday, a quantity of electronic shisha pipes that were seized during an attempt to smuggle them and bring them into the capital, Sana’a.

The director of Sana’a Customs and Control Office, Hussein Abdulaziz, indicated during the destruction process that took place in the office yard that the quantity destroyed amounted to 12,653 electronic hookahs.

He pointed out that the destroyed quantity was seized by customs officers because of the health damage that electronic hookahs pose to citizens, in addition to the fact that they are considered a bad habit and a strange phenomenon in Yemeni society. He stressed that customs will not be lax in seizing smuggled goods and materials that are not authorized for entry into the country.

The Director of Sana’a Control and Customs Office touched on the awareness efforts implemented by the Authority regarding the harms of smuggling.

For his part, the representative of the Industry and Trade Prosecution, Faisal Al-Shami,
explained that the destruction process was carried out in accordance with Cabinet Resolution No. 63 of 2018 regarding preventing and prohibiting the import, entry and circulation of electronic cigarettes, due to their severe harm to human health.

The destruction process was attended by representatives of the relevant authorities.

Source: Yemen News Agency

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Shura Council Human Rights Committee discusses its draft report on persons with disabilities


The Shura Council’s Human Rights and Public Liberties Committee held a meeting today ,Tuesday, under the chairmanship of the Council’s Speaker, Muhammad Hussein Al-Aidaroos.

The meeting, which included the Chairman of the Committee, Hasiba Chenif, and members of the Committee, discussed the level of the Committee’s implementation of its programs within the 1445 AH plan, and the Committee’s draft report on persons with disabilities, the challenges they face, and ways to address them.

At the meeting, the ShuraSpeaker appreciated the committee’s efforts in its commitment to holding its meetings in accordance with the annual plan and discussing human rights and humanitarian issues that touch upon citizens’ concerns.

He stressed the importance of concerted efforts of relevant authorities, raising awareness of the rights of people with disabilities, and supporting the services provided to them to enable them to integrate into society.

Source: Yemen News Agency

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Shura Council’s Political and Foreign Committee discusses draft report on Yemen’s support for Al-Aqsa Flood Battle


The Political and Foreign Relations Committee of the Shura Council held on Tuesday a meeting, headed by head of the Shura Council Muhammad Al-Aidarous.

The meeting, which was attended by the Vice President of the Council, Mohammed Hassan Al-Durra, and the Chairman of the Political Committee, Eng. Lutf Al-Jarmouzi, discussed the activity of the Committee and the level of implementation of its programs included in its plan for the year 1445 AH.

The meeting dealt with the draft report of the committee entitled “Yemeni participation in the battle of the Al-Aqsa flood: premises, repercussions, results.”

At the meeting, the Speaker of the Shura Council praised the efforts made by the committee in implementing the tasks entrusted to it within its annual plan.

He directed the speedy completion of the preparation of the report, the absorption of the substantive observations contained thereon and its submission to the Presidency of the Council for discussion and approval.

Source: Yemen News Agency

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Closing ceremony of school year in Ibb


The Holy Quran Academy and Schools in Ibb Governorate organized a speech ceremony to conclude the academic year 1445 AH.

At the ceremony, the statement confirmed the interest of the leader of the revolution, al-Sayeed Abdul-Malik Badr al-Din al-Houthi, in the Holy Quran Academy and Schools and its members.

Source: Yemen News Agency

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General Corporation for Grain Production launches harvest show


The General Corporation for Grain Development and Production in Sana’a launched a display of homemade harvesters.

At the inauguration, the Minister of Agriculture confirmed that, in implementation of the directives of the leader of the revolution,al-Sayeed Abdul-Malik Badr al-Din al-Houthi, a series of measure taken to increase the production of grain crops and enhance food security in the country.

Source: Yemen News Agency