Εμφάνιση αναρτήσεων με ετικέτα financial aid. Εμφάνιση όλων των αναρτήσεων
Εμφάνιση αναρτήσεων με ετικέτα financial aid. Εμφάνιση όλων των αναρτήσεων

Πέμπτη, Δεκεμβρίου 11, 2014

Bulgaria ready to place gas hub for European consumers

Bulgaria is ready to place on its territory a gas distribution European-scale station, instead of the South Stream project, according to a verbatim account of a meeting of the Bulgarian government on Wednesday.

“We can build a gas storage facility in Varna, where /South Stream/ pipes were to come out of the Black Sea. The European Commission, under the plan /of its President Jean-Claude/ Juncker, may finance the construction of a liquefied gas storage facility. It will be filled there and pumped from there to Europe,” Prime Minister Boiko Borisov said. “The European Commission will sponsor this hub. We make a distribution centre of the Energy Union in Varna, and we are number one in terms of diversification. It is not in the interests of Turkey or Greece, or any other country. It is in our interests and in the interests of the European Union, and we must solve this problem. We offer the European Commission and the entire Europe a perfect option of placing a gas hub in Bulgaria, not in Turkey.”

Borisov instructed the ministers to notify all parties concerned about this initiative.

On December 1, after the talks with Turkish President Recep Tayyip Erdogan, Russian President Vladimir Putin said that Russia was ready not only extend the Blue Stream pipeline but also to build another pipeline system to satisfy Turkey’s growing demand and to build a gas hub at the border between Turkey and Greece to pump gas to Southern Europe.

On the same day, the Russian leader said that in current conditions Russia would not implement the South Stream project. Gazprom CEO Alexei Miller said the project was no longer topical. “The project is closed, and that’s it,” he told journalists, commenting on the results of the top-level Russia-Turkey talks.

The South Stream project estimated at 15.5 billion euro was meant to supply 67 billion cubic metres of gas a year. Now, the capacity of the Blue Stream gas pipeline that runs across the bottom of the Black Sea to Turkey is 16 billion cubic metres of gas a year. Turkey has repeatedly offered Russia to use its territory as a starting point for gas supplies to Europe.

  http://itar-tass.com/en/economy/766323
11/12/14
--
-
Related:

Τρίτη, Σεπτεμβρίου 23, 2014

Financial sector to help mobilize $200 billion to fight climate change in developing countries

UN,  23 September 2014 – Governments, investors and financial institutions today pledged to mobilize $200 billion by the end of next year for low-carbon programmes in developing countries, giving a significant boost to the United Nations goal of reaching $100 billion annually by 2020.

“This will serve as a catalyst in finalizing a universal and meaningful agreement at Paris on climate change in 2015,” Secretary-General Ban Ki-moon said as he hosted the largest ever summit of world leaders on climate change at UN Headquarters in New York to prepare the ground for a global accord at a summit in the French capital in December next year.


Today’s agreement combines public and private financing, including pledges by donor and developing countries to capitalize the Green Climate Fund aimed at helping developing countries shoulder the burden of slashing emissions.

“The Summit has created a platform for new coalitions and has brought leaders from both public and private sectors across the globe to not only recognize climate risks, but to agree to work together,” Mr. Ban said of today’s gathering.

  • The private sector announcements were made by an unprecedented coalition of financial institutions, pension funds, insurance companies, development banks and commercial banks which had never previously acted together on climate change at such a large scale.

The Summit also marked a major advance in efforts by Governments and businesses to set a price on greenhouse gas emissions, a step that offers investors and consumers an accurate reflection of the true cost of goods and services. More than 50 countries and 500 companies endorsed the need for developing mechanisms that would adequately reflect the true costs relating to pollution and emissions.

In a major departure from the climate negotiations and previous climate summits, the business community and civil society are playing a major role. There were 181 representatives from the business and investment community, including 90 chief executive officers. There were 52 business and investors from developing countries. In addition, there were dozens of civil society representatives. 

[un.org]
23/9/14
--
-

Κυριακή, Σεπτεμβρίου 21, 2014

UN summit test for new climate fund. (Donors yet to stump up to pay for assistance to developing countries)

A global fund created to spearhead climate change financing faces a key test at a UN summit this week when it looks to the leaders of the industrialized world to stump up billions of dollars to fill its underflowing coffers.

For the South Korea-based Green Climate Fund, the climate summit in New York on Tuesday is an opportunity for the developed world to demonstrate its financial commitment to securing a new, legally binding global climate deal with poorer countries in 2015.


The fund was born out of the UN climate summit in Copenhagen in 2009, when developed countries made a political commitment to mobilize $100 billion annually for developing countries by 2020.

So far only Germany has come up with a substantial commitment to the GCF, pledging around $1 billion in July.

"We expect at the summit other countries to come forward and show they are leading the way in contributing to the fund," said GCF executive director Hela Cheikhrouhou.

"Early pledges, like Germany or those who pledge in New York, are incredibly important for trust-building," Cheikhrouhou told AFP in an interview in Incheon.

The GCF, which was formally established in 2010, has had a slow gestation period, and it took 3-1/2 years to reach a working consensus on what it should do and how it should go about it.

"That's where people got impatient," Cheikhrouhou acknowledged.

"It took a long time to agree on the foundational policies and operational guidelines."

The fund's board is composed of 24 members, with equal representation from developing and developed countries.

Cheikhrouhou said debate had been "stormy" at times, but argued this was inevitable with an institution being built from scratch and entrusted with such a pivotal role.

The GCF was set up to channel funding from wealthy to poorer nations, helping them to shift their development pathways towards a greener track and shore up defenses against climate peril.

"We have to start this paradigm shift now," Cheikhrouhou said. "The more we delay action, the harder and more expensive it will be in the future."

The fund currently has around $55 million in its coffers, while Christiana Figueres, the head of the UN Framework Convention on Climate Change (UNFCCC), has called for an initial capitalization of $10 billion by the end of the year.

Confidence in the GCF is seen as critical for the UNFCCC's conference in Lima, Peru in December, which aims at clearing the way to a global pact on climate change a year later in Paris.

"Essentially, the fund should be proof that help will be on the way if you agree to an agreement," Cheikhrouhou said.

Sources: AFP - globaltimes.cn
21/9/14
--
-
Related:

Τετάρτη, Σεπτεμβρίου 10, 2014

Moldova, Romania to Expand Iasi-Ungheni Pipeline to Chisinau with Aid from EU

CHISINAU, September 10 (RIA Novosti) - The European Union will allocate 10 million euros ($12.9 million) to expand the Iasi-Ungheni pipeline to Chisinau, the official website of the Moldovan Economy Ministry reported.

"The European Union will provide 10 million euros for the expansion of the Iasi-Ungheni pipeline. The pipeline will be extended to Chisinau," the ministry's website stated. Previously, the Economy Ministry directly reported that the project aims to reduce dependence on Russian gas.


The Iasi-Ungheni pipeline was commissioned on August 27, 2014. Its length on the Romanian territory is 32 kilometers (19.8 miles). Some 736 meters (about 2400 feet) have been constructed under the river Prut, and another 11 kilometers are located on the territory of Moldova. Its construction has required 26 million euros ($33.5 millions), seven million ($9 million) of which have been granted by the European Union. The country's authorities have stated that the first stream of “blue fuel" will arrive at the beginning of September, but the pipeline is still not operable yet.

[ria.ru]
10/9/14
--
-
 

Πέμπτη, Μαρτίου 27, 2014

US Congress Votes to Aid Ukraine, Penalize Russia. - The same day that the IMF pledged to provide Ukraine with up to $18 billion in loans

The U.S. Congress has sent a strong message to Russia for its annexation of Crimea by passing measures that give aid to Ukraine and penalize Moscow.

Lawmakers in the House and the Senate overwhelmingly approved separate measures on Thursday.

Both bills include $1 billion in loan guarantees to Ukraine and penalize Russia for its actions in Crimea.

Lawmakers in both chambers will have to resolve differences on other provisions before sending a final bill to President Barack Obama.


Democratic Congressman Elliot Engel said if the United States continues to work with Ukraine and help turn the country "Westward," then Russian President Vladimir Putin "will have lost."

He said Putin may have a "land grab" in Crimea, but would lose the rest of Ukraine.

  • The House and Senate votes took place on the same day that the International Monetary Fund pledged to provide Ukraine with up to $18 billion in loans.

But, the IMF says Ukraine, in exchange, must agree to enact tough economic reforms.

[voanews.com]
27/3/14

Ukraine to hike gas rates by 50% for IMF loan. -The IMF programme's approval would set in motion the release of further assistance from both Washington and the European Union.

Ukraine agreed on Wednesday to quickly hike domestic gas prices by as much as 50 percent to meet a key loan condition set by the International Monetary Fund (IMF) for the crisis-hit ex-Soviet state.The new Western-backed government in Kiev is seeking $15-20 billion (11-14.5 billion euros) in IMF assistance in order to balance its books and meet a series of foreign loan repayments.An IMF team met with Prime Minister Arseniy Yatsenyuk in Kiev on Wednesday for what Ukrainian officials hoped would be a final round of talks before the package is approved in Washington next month.
The Fund has made an immediate end to Ukraine's costly gas subsidies one of its prime conditions for the programme's approval.

It also wants the central bank to stop propping up the Ukrainian currency and for the government to cut down on corruption and red tape.A top official at Ukraine's Naftogaz state energy company said Kiev was willing to raise the price households pay for natural gas by 50 per cent as of May 1.Naftogaz budget and planning director Yury Kolbushkin added that rates for district heating companies would go up by 40 per cent on July 1.Kolbushkin indicated that these prices would increase still further in the coming years."We will publish a document that sets a schedule for rate increases through 2018," Ukrainian media quoted Kolbushkin as saying.Ukraine's central bank has already limited its currency interventions -- a decision that has seen the hryvnia lose 26.4 per cent of its value against the dollar since the start of the year.
  • The IMF programme's approval would set in motion the release of further assistance from both Washington and the European Union.
Yatsenyuk said he expected EU officials to send 1.6 billion euros ($2.2 billion) to Kiev within two months of its approval.The United States has also pledged $1 billion (720 million euros) in loan guarantees while Japan has promised up to $1.5 billion (1.1 billion euros)..........http://www.ellanodikis.net/2014/03/ukraine-to-hike-gas-rates-by-50-for-imf.html
26/3/14

Τετάρτη, Μαρτίου 05, 2014

EU-Georgia: Financial support to strengthen democratic institutions. -European Commission, Press release

EU-Georgia: Financial support to strengthen democratic institutions

Commissioner for Enlargement and European Neighbourhood Policy Štefan Füle signed two financing agreements in Tbilisi on Tuesday to support public finances reform in Georgia and to strengthen the role and capacities of the Parliament.

The financing agreement to support Georgia’s reform of public finance policy is worth €21m and will contribute to good governance and further strengthen government services' delivery and the accountability of the public sector. It will promote transparency, while increasing efficiency and effectiveness of planning and governmental spending.


"It is important for me not only to come and talk about significance of consolidating democratic institutions and strengthening the inclusivity of the reform process but also to support it with concrete help. This program creates a new mechanism to allow the Parliament to make recommendations on the state budget. Civil society will be informed and consulted. All this should ultimately lead to better management of public spending and accountability towards the Georgian citizens," Commissioner Füle said.

This third wave of EU support to the Georgian Public Finance Management builds on two successful previous programmes totalling €26 million. For the first time, this new programme will not only involve the Ministry of Finance, but also work with the Parliament and the State Audit Office, thus increasing accountability.

The financing agreement to strengthen the system of parliamentary democracy in Georgia is worth €1,5m and will help the Parliament to develop new capacities in the system of government oversight, strengthen its policy making capacity and enhance its role in the European integration process.

Parliamentary leadership, as well as parliamentary commissions will be helped to perform policy-making and oversight function more effectively. Parliamentary committees, including Human Rights, Agriculture, Environment, Health and Social Affairs will be coached to improve their budgetary and audit oversight.

Commissioner Füle said, "This is a clear expression of our interest in strengthening the democracy in Georgia. To have strong, capable parliament is very important, particularly when we are witnessing challenging times with some neighbours acting in complete disregard of international laws and norms."
 http://europa.eu/rapid/press-release_IP-14-211_en.htm?locale=en
4/3/14
--
-

Οι νεκροί Έλληνες στα μακεδονικά χώματα σάς κοιτούν με οργή

«Παριστάνετε τα "καλά παιδιά" ελπίζοντας στη στήριξη του διεθνή παράγοντα για να παραμείνετε στην εξουσία», ήταν η κατηγορία πο...