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EP confirmation hearings A snapshot from Commissioner-designate Maria Luís Albuquerque’s appearance before the European Parliament.   more

This is an email sent by the European Commission's Finance news hub. It is hosted by the Directorate-General for Financial Stability, Financial Services and Capital Markets Union.

 PRESS/970: TRADE AND DEVELOPMENT

WTO-ITC initiative for women receives record-high pledge from FIFA World Cup Legacy Fund

The WTO and the International Trade Centre (ITC) on 27 November welcomed the donation pledge of the FIFA World Cup Qatar 2022 Legacy Fund™ for the Women Exporters in the Digital Economy (WEIDE) Fund, a global programme to help women tap into opportunities in international trade and the digital economy through grants and technical assistance. The Legacy Fund has pledged up to US$ 16.6 million to the WEIDE Fund, with an initial deposit of US$ 5 million. This marks one of the largest pledges ever made to a WTO fund.

WTO-ITC initiative for women receives record-high pledge from FIFA World Cup Legacy Fund

WTO Director-General Ngozi Okonjo-Iweala said: “This initiative builds on important lines of collaboration already established between the WTO and FIFA. Through our Women Exporters in the Digital Economy (WEIDE) Fund, this ground-breaking collaboration will help scale up capacity for women entrepreneurs seeking to use digital tools and platforms to access new opportunities and global value chains. This grant is the first of its kind at the WTO in scale and the team is excited to get to work.”

ITC Executive Director Pamela Coke-Hamilton said: “This is a win for women entrepreneurs. FIFA's pledge to our WEIDE Fund will go a long way to ensuring more women have the capital and the capacity they need to grow their businesses through trade, so they can earn more, create jobs, and invest in the socioeconomic development of their countries. That's the goal.”

FIFA President Gianni Infantino said: “The FIFA World Cup Qatar 2022 Legacy Fund is a landmark project that builds on the unprecedented impact of the tournament from a sustainability point of view.”

The FIFA World Cup Qatar 2022™ Legacy Fund is investing US$ 50 million in a series of social programmes in collaboration with Qatar and three global organizations, namely the WTO, the Office of the United Nations High Commissioner for Refugees (UNHCR), and the World Health Organization (WHO). The Legacy Fund will be implemented in close cooperation with the Supreme Committee for Delivery & Legacy (SC), based in Doha, Qatar.

The groundbreaking initiative was presented at an online meeting attended by Mr Infantino, DG Okonjo-Iweala, Ms Coke-Hamilton, and leaders from other organizations.

Last September, the United Arab Emirates government also signed a grant agreement to the WEIDE Fund for US$ 5 million and a call was launched for business support organizations (BSOs) to partner with the WEIDE Fund in the pilot phase. The selected BSOs in four developing countries will be announced in January 2025.

These business support organizations will then help launch competitions in each country, targeting hundreds of women to benefit from the fund through grants of up to US$ 30,000 along with technical assistance.

Unveiled by the WTO and the ITC in February 2024 at the 13th Ministerial Conference (MC13) in Abu Dhabi, the WEIDE Fund aims to empower women entrepreneurs by helping them grow their businesses through international trade and digitalization. Specifically, the targeted beneficiaries are women-led micro and small enterprises in the formal sector which are already exporting or have export potential.

The WEIDE Fund will unlock opportunities in international trade and digital trade for women entrepreneurs by improving their access to: grants and support from financial institutions to reduce the finance gap; technical assistance and training related to digital skills and improving export competitiveness; export markets, with the aim of connecting more women to digital market platforms; and networks and support services, with the objective of creating more inclusive and effective business ecosystems including by leveraging partnerships with the private and public sectors.

The WTO and ITC aim to raise US$ 50 million for the Fund, with an initial target of US$ 25 million, from public and private sector partners. The Fund will actively seek partnerships with various stakeholders, including governments, international organizations, development banks, philanthropic foundations and the private sector to implement initiatives aimed at maximizing the impact of the Fund's activities. Collaboration and knowledge-sharing will be crucial to achieving sustainable and scalable solutions.

The Fund's activities will be implemented through projects in specific countries in cooperation with business support organizations selected through a competitive call for proposals. At the country level, the Fund will implement a two-track system tailored to meet the needs of the targeted micro and small enterprises. Both tracks will include a grant and complementary technical assistance.

More information on the WEIDE Fund can be accessed here.

DIASPORA-GRECQUE.COM,update

DIASPORA-GRECQUE.COM

Προβολή του πολιτισμού μας και της Ελληνικής μας καταγωγής στην Τουλόν

Ici se trouve un article intéressant Diaspora Grecque:  http://diaspora-grecque.com/modules/altern8news/article.php?storyid=8102

ΑΗΕPA update

 

From the Desk of the Supreme President November 28, 2024

Dear AHEPA Family & Friends,   At this time of year, we are reminded that we have plenty for which to be thankful. We are especially grateful to our volunteer members who give unselfishly of their time and resources in service to the community.

In fact, think about the amazing work AHEPA has accomplished thanks to you--our valued member! Within the past year, specifically in the past few months, AHEPA has provided relief to communities that have suffered devastation due to natural and other disasters. Ahepans also have: assisted the victims of the Flint Water Crisis with relief giveaways that concluded this year, surpassed $1 million in raising funds for cancer research and continue to demonstrate an enduring commitment to Thalassemia (Cooley's Anemia) research, donated $1 million to help rebuild Saint Nicholas Greek Orthodox Church and National Shrine at World Trade Center; and helped to feed the hungry and provided public health assistance in Greece and established a medical library and a burn unit at Evangelismos Hospital. And there's more! Throughout its history, Ahepans have honored our veterans and those who made the ultimate sacrifice, remembered the sacrifices of our immigrant forebears, raised awareness about the consequences of PTSD and raised $1 million to sponsor over 100 service dogs to help wounded warriors (with more to come), helped neighbors to recover from natural disasters, organized successful Journey to Greece programs for our emerging leaders, collectively awarded millions of dollars in scholarships at the national, district and chapter levels (collectively an approximate $2 million annually); honored excellence in athletics, and continued to provide safe and dignified affordable housing for low-income and disabled older adults as a recognized nationwide leader in the affordable senior housing sector, while donating more than $10 million historically to nonprofits.   The commitment and dedication of our members is unwavering. We are also thankful for our generous donors and sponsors who have helped us to meet our mission by supporting our many programs and events -- and to our benefactors who have bolstered our Century Capital Campaign in celebration of our100th anniversary. As a reminder, this #GivingTuesday, please take a moment to make the AHEPA Charitable Foundation, from which our charitable giving programs are administered, a priority. Be sure to follow us on social media to see how you can help each day this week! On behalf of the AHEPA family, I wish you and yours a very Happy Thanksgiving!  Fraternally, Savas C. Tsivicos Supreme President PS -- Don't forget, members are they key to our successful service programs. Know of an individual who can make a positive contribution to our mission and to the promotion and preservation of Hellenic ideals? Ask them to join AHEPA!

Founded in 1922 in Atlanta, Georgia, on the principles that undergirded its fight for civil rights and against discrimination, bigotry, and hatred felt at the hands of the Ku Klux Klan, AHEPA is the largest and oldest grassroots association of American citizens of Greek heritage and Philhellenes with more than 400 chapters across the United States, Canada, and Europe.  AHEPA's mission is to promote the ancient Greek ideals of Education, Philanthropy, Civic Responsibility, and Family and Individual Excellence through community service and volunteerism.  For more information, please visit www.ahepa.org.

ΠΕΡΙΦΕΡΕΙΑ ΚΡΗΤΗΣ:εκεί που η δουλειά,ο πολιτισμός,η προκοπή ΔΕΝ ΤΕΛΕΙΩΝΟΥΝ ΠΟΤΕ!!

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U.S.A.'s interesting latest news

FinCEN Joins Public-Private Partnership to Combat Fraud and Scams Impacting Innocent Americans

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has joined a multi-sector national task force dedicated to the prevention of fraud and scams. The National Task Force on Fraud and Scam Prevention, convened by the Aspen Institute’s Financial Security Program, brings together key stakeholders including the financial services sector, technology companies, consumer advocacy groups, information sharing and analysis centers, and federal government agencies to develop a comprehensive national strategy for combating fraud and scams.

News Release: https://www.fincen.gov/news/news-releases/fincen-joins-public-private-partnership-combat-fraud-and-scams-impacting




The Week Ahead: Happy Thanksgiving!



Thanksgiving is Thursday, November 28!

It's the perfect time of year to thank you for exploring Census Bureau data with us. Enjoy Thanksgiving-related fun facts courtesy of our Statistics in Schools team.

Explore

 Holidays and Observances The 2024 Winter Holiday Season has nearly arrived!

 Coming Soon
International Population Estimates and Projections

ESM and EFSF ,update

 

ESM and EFSF approve merger of HFSF with HCAP 28 November 2024 ESM Press Release no. 14/2024 The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) gave their consent today to the merger of the Hellenic Financial Stability Fund (HFSF) with the Hellenic Corporation of Assets and Participations (HCAP).  This follows the request of the Greek government of 5 November 2024, seeking approval for the merger by the ESM and EFSF, as the prior consent of both institutions is required for any transfer or assignment of HFSF's rights or obligations under the relevant loan agreements. The Greek government’s merger plan also includes the merger of Hellenic Republic Asset Development Fund (HRADF) with HCAP, which does not require consent by the ESM or EFSF.  Before the merger becomes effective under Greek law, the ESM, EFSF and HCAP will sign an implementation agreement. It will clarify the operational aspect of the transfer of HFSF rights and obligations under the loan agreements to HCAP and preserve the creditor status of ESM and EFSF so that it is unaffected by the resulting succession. “The planned merger of HFSF with HCAP will strengthen HCAP’s operational capacity, optimise its resources, and allow it to manage state assets more efficiently. Consequently, the consolidation will be beneficial for Greece’s economy and thus aligns with the ESM’s and EFSF’s strategy to support Greece's efforts in enhancing long-term economic growth,” said ESM Managing Director and EFSF CEO Pierre Gramegna. HFSF is a fund established in July 2010 to maintain the stability of the Greek banking sector. It has recapitalised several systemic Greek banks, using loans provided to the Greek government by the EFSF and ESM. It subsequently developed a strategy for the sale of its stakes in these banks. Following this year’s partial divestment and monetisation in National Bank of Greece, the HFSF has now effectively completed its main purpose and role. HCAP is a Greek state-owned holding company, which was established in 2016 and operates in an independent manner for the public interest. It manages Greek state assets, enhancing their value and contributing to the country’s economic development and debt reduction. ESM and EFSF waive Greece’s repayment obligation, enabling early repayment of GLF loans 28 November 2024 ESM Press Release no. 13/2024 The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed today to waive the mandatory repayment obligation of ESM/EFSF loans in connection with an early repayment to Greek Loan Facility (GLF) lenders.  Under the ESM and EFSF loan agreements with Greece, upon early repayment to other creditors, a proportional amount of the financial assistance provided under ESM and EFSF facilities becomes immediately due and payable. Thanks to the waivers granted today by the ESM and EFSF, Greece will not be required to make an early repayment to either institution.    “Greece continues to make significant strides in its economic development. It is one of the fastest growing economies in the EU and has returned to investment grade. The planned early repayment of GLF loans is another positive signal for financial markets and demonstrates Greece's improving fiscal position. The repayment will generate some savings for the Greek budget and will also enhance its liquidity management. These are notable developments for the ESM and EFSF, who hold around 54% of Greece’s public debt. Our interests are aligned, and we will continue to support the Greek authorities in their efforts to enhance long-term growth and debt sustainability,” said ESM Managing Director and EFSF CEO Pierre Gramegna. The waivers were granted in response to a formal request from the Greek government, proposing an early repayment of principal payments originally due in 2026-2028 to GLF lenders in an amount of €7.935 billion. The Greek Loan Facility was part of the first financial support programme for Greece, agreed in May 2010. It consisted of bilateral loans from 14 euro area countries, amounting to €52.9 billion, of which €39.5 billion remains outstanding. Greece completed the repayment of its IMF loans two years ahead of schedule in 2022 and made a first early repayment of GLF loans in 2023.

About the ESM     The European Stability Mechanism (ESM) has the mandate to preserve financial stability in the euro area by providing financial assistance to Member States with severe financing problems. It is a permanent inter-governmental institution, operating since October 2012. The shareholders of the ESM are the 20 euro area Member States. All financial assistance to Member States is linked to appropriate conditionality. The ESM finances its assistance by issuing bonds and other debt instruments. It has a total subscribed capital of approximately €700 billion, which comprises €80 billion in paid-in capital and €624 billion in committed callable capital. The ESM’s maximum lending capacity is €500 billion.     About the EFSF     The European Financial Stability Facility (EFSF) was created as a temporary crisis resolution mechanism by the euro area Member States in June 2010. The EFSF has provided financial assistance to Ireland, Portugal and Greece. The assistance is financed by the EFSF through the issuance of bonds and other debt instruments. Since July 2013, the EFSF may no longer provide any further financial assistance.     European Financial Stability Facility Société Anonyme 6a Circuit de la Foire Internationale, L-1347, Grand Duchy of Luxembourg R.C.S. Luxembourg B153414