Day: June 3, 2023

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Brazil-based EIB grants, 200 million to Sicredi for SMEs and households’ solar energy investments

BRUSSELS, 3rd June, 2023 (WAM) — The European Investment Bank (EIB) and Sicredi, a cooperative financial institution operating in all regions of Brazil, signed an agreement aimed at fostering the use of renewable energy in Brazil. Ricardo Mourinho Felix, Vice-President of the EIB, and Cesar Bochi, CEO of Banco Cooperativo Sicredi, signed a, 200 million loan in Brasilia, which will be used by Sicredi to finance the installation of photovoltaic panels on homes, small and medium-sized businesses and rural properties. The project will contribute 100 percent to climate action (mitigation) and will support Brazil’s targets for increasing the share of renewable energy sources in its annual electricity generation, contributing to the achievement of the ten-year national energy expansion plan. By supporting this low-size market segment the operation reduces electrical losses and optimises the distribution grid usage. Sicredi is a cooperative financial institution with more than 6.5 million members and 2,500 branches in 1,800 municipalities across all regions of Brazil. In over 200 cities, it is the only financial institution physically present. Currently, the institution holds a credit portfolio of about, 1.1 billion. Tariq Al Fahaam/ Amjad Saleh

Source: Emirates News Agency (WAM)

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Under the umbrella of “Invest in Saudi Arabia”, public and private entities participate in Saudi-Japanese Minerals and Mining Workshop

The Ministry of Investment and the Japanese Oil, Gas, Minerals, and Mining Company jointly organized a Saudi-Japanese Minerals and Mining workshop in Tokyo, Japan, in collaboration with the Saudi Ministry of Industry and Mineral Resources.

The workshop aimed to discuss cooperation opportunities in the investment fields of the metals and mining sector. It also sought to encourage and support Japanese companies to invest in the Saudi mining sector and supply chains, including copper, zinc, steel, and other resources.

During the event, the Undersecretary of the Ministry of Investment for Investment Development, Fahad Al-Naeem, highlighted the Kingdom’s economic and competitive advantages. He introduced the national investment strategy and presented qualitative investment prospects in the minerals and mining sector.

Moreover, Al-Naeem provided an overview of the new Saudi regulations governing mining licenses and outlined medium and long-term investment opportunities in the sector. He defined the mining strategy in the Kingdom and engaged in bilateral meetings with major Japanese companies specialized in the minerals and mining sector.

The mining and mineral sector in the Kingdom greatly benefits from the national initiative for global supply chains, which aims to attract investments worth SR 40 billion. This initiative capitalizes on the Kingdom’s abundant resources, robust infrastructure, and strategic location.

Source: Saudi Press Agency

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Security Council Extends Mandate of UN Mission In Sudan

The UN Security Council (UNSC) on Friday unanimously approved resolution 3685 extending the UN Integrated Transition Assistance Mission in Sudan (UNITAMS), for six month.

The Council reaffirmed all its previous resolutions and statements related to the situation in Sudan, as well as its strong commitment to the sovereignty, unity, independence and territorial integrity of Sudan.

The resolution referred to the report of the Secretary-General of the United Nations on the situation in Sudan and the activities of the United Nations mission there.

The resolution requested the Secretary-General to continue to provide the Security Council every 90 days with a report on the implementation of the mandate of the integrated mission, provided that the next report be submitted by August 30.

In a statement issued before the adoption of the resolution, the members of the Security Council emphasized the need for the parties to immediately cease hostilities, facilitate humanitarian access and establish a permanent ceasefire arrangement and to resume the process towards reaching a lasting, inclusive and democratic political settlement in Sudan.

Source: Qatar News Agency

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Arab universities association holds 3rd conference for presidents of Arab, Russian universities

The Association of Arab Universities (AARU) organized on Saturday the third conference of presidents of Arab and Russian universities at the University of Sharjah, with the participation of more than 200 Arab and Russian universities. In a statement, Secretary-General of the AAU Amr Ezzat Salama said during the opening ceremony that Arab-Russian relations have witnessed great growth in the field of higher education over decades, and continuous cultural and scientific exchange. He added that more than 50,000 Arab students are studying in Russian universities, pointing to hundreds of thousands of graduates from various scientific and human disciplines, which, he noted, reflects the importance of concerted efforts to bring about the required development in the fields of research, joint scientific publishing, mutual scientific visits, and the exchange of experiences and resources. He pointed to the need to increase the volume of cooperation between the members of the association in the scientific, economic and social fields and joint coordination to enhance cooperation and allow the establishment of joint applied educational and training programs, in addition to creating a suitable scientific environment, to build the future and human resources. The sessions of the conference will discuss raising the level of teaching, learning and scientific research through partnership with the most prestigious Arab and international universities, and setting strategies and frameworks for exchange between universities in various fields. On the sidelines of the conference, about 40 memoranda of understanding were signed between Arab and Russian universities to strengthen joint cooperation in the field of scientific research, teaching and community service. It is worthy to note that the Amman-based Association of Arab Universities, which was established in 1964 upon a resolution issued by the Arab League, is a non-governmental independent organization that has 280 Arab Universities as members.

Source: Jordan News Agency

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Foreign Ministry offers condolences to India over train crash victims

The Ministry of Foreign Affairs and Expatriates expressed its “deepest” condolences to India’s government and people over the victims of the train collision that occurred in eastern India, killing and injuring dozens. In a statement on Saturday, the ministry affirmed the Kingdom’s solidarity with India, expressing its condolences to the victims’ families and wishing the injured a speedy recovery.

Source: Jordan News Agency