real peoples bank south africa

For large middle-income countries, like India and South Africa, governments and civil society and indigenous peoples groups forced. real peoples bank contact details. China will not resort to flood-like stimulus, Pan Gongsheng, vice governor at the People's Bank of China (PBOC), told a news conference on.

Real peoples bank south africa -

China is injecting $150 billion into the economy — that may fuel a short-term rally, UBS says

The NIO Inc. ES6 electric sport utility vehicle (SUV) stands on display at the Auto Shanghai 2019 show in Shanghai, China.
Qilai Shen/Bloomberg/ Getty Images

China's move to cut the amount of funds banks need to hold in reserve could boost market sentiment — and that could be good news for stocks in certain sectors, according to investment bank UBS. 

The People's Bank of China said Friday it would cut the reserve requirement ratio (RRR) by 50 basis points for all banks, effective from July 15. The move is expected to release around 1 trillion yuan (or $154 billion) in long-term liquidity into the economy.

The reserve requirement represents the amount of money that banks must hold in their coffers as a proportion of their total deposits. A lowering of that required amount will increase the supply of money that banks can lend to businesses and individuals.

"We think this broad-based RRR cut could boost market sentiment in the short term and improve stock market liquidity," UBS analysts Lei Meng and Eric Lin said in a note on Monday.

Winners and losers

In the short term, the move could boost liquidity-sensitive sectors, such as aerospace and defense, electronics, IT and media, according to UBS.

Companies with strong earnings expectations could also outperform, UBS said, citing sectors such as electric vehicles and batteries, and the new energy sector.

However, the market rally may be short-lived given concerns over China's slowing economic growth, the bank indicated.

"The RRR cut has, to some extent, added to equity investors' concerns that the economic recovery in Q2-Q3 (this year) may not be as good as the market expected," the UBS analysts wrote. "In our view, in the absence of a directional shift to monetary policy loosening, the additional liquidity will not drive a sustained market rally."

UBS analysts pointed out that investors' are worried about the weakening pace of China's economic recovery in the second and third quarter this year — and that may weigh on the banking, insurance and consumer sectors.

'Strong headwinds'

The Chinese central bank's move on Friday signals that the country acknowledges the risks to China's growth, analysts said.

"It is a signal, it's a higher profile message I think, that the authorities are paying attention and alert to the possibility of downside risks," Andrew Tilton, chief Asia Pacific economist at Goldman Sachs, told CNBC's "Street Signs Asia" on Monday.

Separately, Eurasia Group analysts said: "The move, which is expected to inject 1 trillion yuan into the economy, is an acknowledgement of strong headwinds to corporate profitability, financial stability, and growth."

The move "does not detract from PBOC's 'prudent' monetary stance that's done with emphatic easing," said Vishnu Varathan, head of economics and strategy as at Mizuho Bank in a note on Monday.

He added that it focuses on calibrating credit — to restrain credit to frothy or speculative sectors, while boosting it for small- and medium-sized enterprises.

Varathan said that the cornerstone of Beijing's policy calculus is still to mitigate a build-up of financial stability risks.

Источник: https://www.cnbc.com/2021/07/12/china-monetary-policy-pboc-to-cut-rrr-impact-on-economy-and-sectors.html
AfDB approves $116 million loan to Central People's Bank of Morocco
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Источник: https://www.klk.co.za/uxclg/first-national-bank-south-africa-address

Top 100 Largest Central Bank Rankings by Total Assets

SWFI Comparison
RankProfileTotal AssetsTypeRegion
1.Federal Reserve System$8,201,651,000,000Central BankNorth America
2.Bank of Japan$6,548,870,000,000Central BankAsia
3.People's Bank of China$5,144,760,000,000Central BankAsia
4.Deutsche Bundesbank$3,103,230,000,000Central BankEurope
5.Bank of France$2,138,080,000,000Central BankEurope
6.Bank of Italy$1,592,110,000,000Central BankEurope
7.Bank of England$1,291,640,000,000Central BankEurope
8.Bank of Spain$1,135,110,000,000Central BankEurope
9.Swiss National Bank$1,131,370,000,000Central BankEurope
10.Central Bank of Brazil$720,710,000,000Central BankLatin America
11.European Central BankCentral BankEurope
12.Central Bank of the Russian FederationCentral BankEurope
13.Reserve Bank of IndiaCentral BankAsia
14.Central Bank of ChinaCentral BankAsia
15.Netherlands BankCentral BankEurope
16.Saudi Central BankCentral BankMiddle East
17.Bank of CanadaCentral BankNorth America
18.Reserve Bank of AustraliaCentral BankAustralia and Pacific
19.Bank of KoreaCentral BankAsia
20.National Bank of BelgiumCentral BankEurope
21.Monetary Authority of SingaporeCentral BankAsia
22.National Bank of the Republic of AustriaCentral BankEurope
23.Central Bank of LuxembourgCentral BankEurope
24.Bank of PortugalCentral BankEurope
25.Bank of MexicoCentral BankLatin America
26.Bank IndonesiaCentral BankAsia
27.Bank of ThailandCentral BankAsia
28.Central Bank of ArgentinaCentral BankLatin America
29.Central Bank of IrelandCentral BankEurope
30.Central Bank of the PhilippinesCentral BankAsia
31.Czech National BankCentral BankEurope
32.Central Bank of LebanonCentral BankMiddle East
33.Central Bank of the Republic of TurkeyCentral BankMiddle East
34.National Bank of PolandCentral BankEurope
35.Central Bank of the United Arab EmiratesCentral BankMiddle East
36.Bank Negara MalaysiaCentral BankAsia
37.Bank of IsraelCentral BankMiddle East
38.Bank of GreeceCentral BankEurope
39.Sveriges RiksbankCentral BankEurope
40.State Bank of VietnamCentral BankAsia
41.Central Bank of IraqCentral BankMiddle East
42.Central Bank of ChileCentral BankLatin America
43.Central Bank of NigeriaCentral BankAfrica
44.Central Reserve Bank of PeruCentral BankLatin America
45.Norges BankCentral BankEurope
46.National Bank of DenmarkCentral BankEurope
47.Qatar Central BankCentral BankMiddle East
48.South African Reserve BankCentral BankAfrica
49.Reserve Bank of New ZealandCentral BankAustralia and Pacific
50.National Bank of SlovakiaCentral BankEurope
51.Bank of the Republic ColombiaCentral BankLatin America
52.Bank of AlgeriaCentral BankAfrica
53.Central Bank of EgyptCentral BankMiddle East
54.Central Bank of the Republic of UzbekistanCentral BankAsia
55.Central Bank of HungaryCentral BankEurope
56.National Bank of UkraineCentral BankEurope
57.Bangladesh BankCentral BankAsia
58.Central Bank of KuwaitCentral BankMiddle East
59.National Bank of SerbiaCentral BankEurope
60.Bank Al-MaghribCentral BankAfrica
61.Monetary Authority of MacaoCentral BankAsia
62.Bank of SloveniaCentral BankEurope
63.Bulgarian National BankCentral BankEurope
64.Bank of LatviaCentral BankEurope
65.Central Bank of CyprusCentral BankMiddle East
66.Bank of LithuaniaCentral BankEurope
67.Croatian National BankCentral BankEurope
68.Bank of GuatemalaCentral BankLatin America
69.Central Bank of UruguayCentral BankLatin America
70.Central Bank of the Dominican RepublicCentral BankLatin America
71.Central Bank of OmanCentral BankMiddle East
72.Central Bank of BoliviaCentral BankLatin America
73.State Bank of PakistanCentral BankAsia
74.Central Bank of JordanCentral BankMiddle East
75.Central Bank of the Republic of AzerbaijanCentral BankAsia
76.Central Bank of TunisiaCentral BankAfrica
77.Central Bank of MyanmarCentral BankAsia
78.Bank of GhanaCentral BankAfrica
79.Central Bank of KenyaCentral BankAfrica
80.Central Bank of MaltaCentral BankEurope
81.National Bank of the Republic of BelarusCentral BankEurope
82.National Bank of AngolaCentral BankAfrica
83.Central Bank of Sri LankaCentral BankAsia
84.Bank of FinlandCentral BankEurope
85.Bank of EstoniaCentral BankEurope
86.Central Bank of TurkmenistanCentral BankAsia
87.Central Bank of Costa RicaCentral BankLatin America
88.Central Bank of Trinidad and TobagoCentral BankNorth America
89.Bank of AfghanistanCentral BankAsia
90.Central Bank of NepalCentral BankAsia
91.Central Bank of VenezuelaCentral BankLatin America
92.Reserve Bank of ZimbabweCentral BankAfrica
93.Central Bank of ParaguayCentral BankLatin America
94.Bank of MauritiusCentral BankAfrica
95.Central Bank of IcelandCentral BankEurope
96.Central Bank of Bosnia and HerzegovinaCentral BankEurope
97.Central Reserve Bank of El SalvadorCentral BankLatin America
98.Bank of MongoliaCentral BankAsia
99.Bank of UgandaCentral BankAfrica
100.Bank of AlbaniaCentral BankEurope

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Источник: https://www.swfinstitute.org/fund-rankings/central-bank

How much the world achieved at the Glasgow climate talks – and what happens now – depends in large part on where you live.

In island nations that are losing their homes to sea level rise, and in other highly vulnerable countries, there were bitter pills to swallow after global commitments to cut emissions fell far short of the goal to keep global warming to 1.5 degrees Celsius (2.7°F).

For large middle-income countries, like India and South Africa, there were signs of progress on investments needed for developing clean energy.

In the developed world, countries still have to internalize, politically, that bills are coming due – both at home and abroad – after decades of delaying action on climate change. The longer the delay, the more difficult the transition will be.

There were also signs of hope as coalitions of companies, governments and civil society and indigenous peoples groups forced progress on issues such as stopping deforestation, cutting methane, ending coal use and boosting zero-emissions vehicles. Now, those promises must be acted upon.

As a former senior U.N. official, I’ve been involved in the climate negotiations for several years. Here are five key elements to watch over the coming year as countries move forward on their promises.

Bending the curve to 1.5°C

Going into the Glasgow summit, countries’ commitments had put the world on a trajectory of warming about 2.9°C this century, well beyond the 1.5°C goal and into levels of warming that will bring dangerous climate impacts. Indian Prime Minister Narendra Modi’s announcement in the first days (much to the surprise of Indian observers) that India would reach net zero emissions by 2070 and generate 50% of its energy from renewables by 2030 helped lower that trajectory to 2.4°C.

Countries agreed to return for the next round of climate talks in November 2022 in Sharm el-Sheikh, Egypt, with stronger commitments to put the world on track for 1.5°C.

Illustration showing the differences between current policies and commitments.

That turns the spotlight back on national action. China reminded everyone, while throwing shade at the U.S., that goals must be backed with plans for implementation. U.S. Cabinet members and Congressional leaders had much to say in Glasgow about being “back,” after the previous administration withdrew from the Paris climate agreement. Yet they had little to offer in terms of the U.S. share of the finance, and the world cast a worried eye over its continued partisan politics.

More South Africa deals, please

While all countries are important for reaching the world’s climate goals, some are more important than others.

Countries that are high emitters and heavily dependent on coal will be a focus of international attention in the coming months, not just to phase down coal but importantly to fund a just transition to green sources of energy and the necessary electricity infrastructure.

The poster child for this approach is South Africa, where a presidential commission has worked for three years to develop a just transition plan and has been able to attract US$8.5 billion from the U.K., the EU, the U.S. and others to help them execute on it. That, coupled with guarantees and other financial aid that could help draw further private investment, could become a replicable model.

The key was national ownership. In the year ahead, look for plans to come together in Indonesia and Vietnam and other countries needing to fast forward away from coal.

Getting climate finance flowing

Many developing countries already have national platforms to deliver on their commitments, but throughout Glasgow’s conference halls, officials complained that finance wasn’t flowing to help them succeed.

This isn’t just a climate finance problem. Many countries are also facing economic disruption from the COVID-19 pandemic and have chafed at the way international financial institutions fail to address issues of access to finance and trade. Advanced economies didn’t come to Glasgow ready to provide even the $100 billion a year in finance promised a decade ago, which shrank the landing zone for agreement on all issues.

The Chinese calculate the value of growth lost through a few measures, such as floods and heat. Unsurprisingly it amounts to trillions of dollars. It may be a useful exercise whenever a government balks at the “cost” of climate action.

In the end, governments agreed to reach the $100 billion annual climate finance target within the next two years and agreed that adaptation funding should double. But with the U.N. Environment Programme estimating that adaptation funds will need to quadruple by 2030 from today’s $70 billion, there’s a long way to go.

The Glasgow Climate Pact also criticized the traditional channels of public funds that set the conditions for finance to flow, including the International Monetary Fund and the World Bank. Look for G7 and G20 countries, the largest shareholders of these institutions, to examine how they can be managed differently to respond to the climate emergency. All eyes are on Italian Prime Minister Mario Draghi, current president of the G20 and an experienced central banker. Actions could range from bolstering the Climate Investment Funds, managed by the World Bank, and loosening the terms and conditions of the IMF’s proposed management of the reallocation of special drawing rights, to incentives to leverage more private funds and take more risk.

Finance pledges and cries of ‘greenwashing’

In the first week of Glasgow, the titans of the financial industry heralded the Glasgow Financial Alliance for Net Zero – the commitment by financial institutions representing $130 trillion in assets to accelerate the transition to a net-zero emissions economy. The shifts within financial markets away from exposure to carbon emissions was palpable. But without more detail, the announcement attracted cries of “greenwashing.”

Organizers of the alliance will need to work hard to hold members to account, and throw out those still underwriting the coal industry, for example. The principle of getting everyone pledged and in the tent and then making them improve has been used before, for example, the Net Zero Asset Managers Initiative. But this only works with transparency, and buried among the press releases was their report that, of the advertised $57 trillion of the initiative’s assets under management, only an estimated 35% is actually in line with net zero.

The U.N. secretary-general announced an expert group to propose clear standards for companies and others making net zero commitments, partly in response to furor around greenwashing. That group is expected to report back in 2022. At the heart of Glasgow was a new seriousness around transparency, credibility, integrity and accountability. Watch this unfold this coming year.

The third leg of a wobbly stool: Loss and damage

Climate action is a three-legged stool – mitigation, adaptation and loss and damage.

Loss and damage was mentioned an unprecedented 12 times in the final Glasgow texts, but without commitments to funding or mechanisms to secure funding. Loss and damage, or reparations, can be understood this way: you broke it (or endangered it), you pay for it. But, afraid of lawsuits in international courts – which the U.S. does not belong to – or afraid of the costs, developed countries have opposed progress on the issue in recent years.

[More than 140,000 readers get one of The Conversation’s informative newsletters.Join the list today.]

Developing countries left Glasgow disappointed, but there was no escaping the debate. Watch for a design of a mechanism to help pay for loss and damage and plans to start funding it. With the next year’s U.N. climate conference in Africa, this will move center stage.

There’s a Scottish proverb, “fools look to tomorrow, wise men [sic] use tonight.” There were wise people in Glasgow, and fools too. But there’s not a night to lose in the year ahead.

Источник: https://theconversation.com/cop26-left-the-world-with-a-climate-to-do-list-here-are-5-things-to-watch-for-in-2022-172024
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Источник: https://www.klk.co.za/uxclg/first-national-bank-south-africa-address

How much the world achieved at the Glasgow climate talks – and what happens now – depends in large part on where you live.

In island nations that are losing their homes to sea level rise, and in other highly vulnerable countries, there were bitter pills to swallow after global commitments to cut emissions fell far short of the goal to keep global warming to 1.5 degrees Celsius (2.7°F).

For large middle-income countries, like India and South Africa, there were signs of progress on investments needed for developing clean energy.

In real peoples bank south africa developed world, countries still have to internalize, politically, that bills are coming due – both at home and abroad – after decades of delaying action on climate change. The longer the delay, the more difficult the transition will be.

There were also signs of hope as coalitions of companies, governments and civil society and indigenous peoples groups forced progress on issues such as stopping deforestation, cutting methane, ending coal use and boosting zero-emissions vehicles. Now, those promises must be acted upon.

As a former senior U.N. official, I’ve been involved in the climate negotiations for several years. Here are five key elements to watch over the coming year as countries move forward on their promises.

Bending the curve to 1.5°C

Going into the Glasgow summit, countries’ commitments had put the world on a trajectory of warming about 2.9°C this century, well beyond the 1.5°C goal and into levels of warming that will bring dangerous climate impacts. Indian Prime Minister Narendra Modi’s announcement in the first days (much to the surprise of Indian observers) that India would reach net zero emissions by 2070 and generate 50% of its energy from renewables by 2030 helped lower that trajectory to 2.4°C.

Countries agreed to return for the next round of climate talks in November 2022 in Sharm el-Sheikh, Egypt, with stronger commitments to put the world on track for 1.5°C.

Illustration showing the differences between current policies and commitments.

That turns the spotlight back on national action. China reminded everyone, while throwing shade at the U.S., that goals must be backed with plans for implementation. U.S. Cabinet members and Congressional leaders had much to say in Glasgow about being “back,” after the previous administration withdrew from the Paris climate agreement. Yet they had little to offer in terms of the U.S. share of the finance, and the world cast a worried eye over its continued partisan politics.

More South Africa deals, please

While all countries are important for reaching the world’s climate goals, some are more important than others.

Countries that are high emitters and heavily dependent on coal will be a focus of international attention in the coming months, not just to phase down coal but importantly to fund a just transition to green sources of energy and the necessary electricity infrastructure.

The poster child for this approach is South Africa, where a presidential commission has worked for three years to develop a just transition plan and has been able to attract US$8.5 billion from the U.K., the EU, the U.S. and others to help them execute on it. That, coupled with guarantees and other financial aid that could help draw further private investment, could become a replicable model.

The key was national ownership. In the year ahead, look for plans to come together in Indonesia and Vietnam and other countries needing to fast forward away from coal.

Getting climate finance flowing

Many developing countries already have national platforms to deliver on their commitments, but throughout Glasgow’s conference halls, officials complained that finance wasn’t flowing to help them succeed.

This isn’t just a climate finance problem. Many countries are also facing economic disruption from the COVID-19 pandemic and have chafed at the way international financial institutions fail to address issues of access to finance and trade. Advanced economies didn’t come to Glasgow ready to provide even the $100 billion a year in finance promised a decade ago, which shrank the landing zone for agreement on all issues.

The Chinese calculate the value of growth lost through a few measures, such as floods and heat. Unsurprisingly it amounts to trillions of dollars. It may be a useful exercise whenever a government balks at the “cost” of climate action.

In the end, governments agreed to reach the $100 billion annual climate finance target within the next two years and agreed that adaptation funding should double. But with the U.N. Environment Programme estimating that adaptation funds will need to quadruple by 2030 from today’s $70 billion, there’s a long way to go.

The Glasgow Climate Pact also criticized the traditional channels of public funds that set the conditions for finance to flow, including the International Monetary Fund and the World Bank. Look for G7 and G20 countries, the largest shareholders of these institutions, to examine how they can be managed differently to respond to the climate emergency. All eyes are on Italian Prime Minister Mario Draghi, current president of the G20 and an experienced central banker. Actions could range from bolstering the Climate Investment Funds, managed by the World Bank, and loosening the terms and conditions of the IMF’s proposed management of the reallocation of special drawing rights, to incentives to leverage more private funds and take more risk.

Finance pledges and cries of ‘greenwashing’

In the first week of Glasgow, the titans of the financial industry heralded the Glasgow Financial Alliance for Net Zero – the commitment by financial institutions representing $130 trillion in assets to accelerate the transition to a net-zero emissions economy. The shifts within financial markets away from exposure to carbon emissions was palpable. But without more detail, the announcement attracted cries of “greenwashing.”

Organizers of the alliance will need to work hard to hold members to account, and throw out those still underwriting the coal industry, for example. The principle of getting everyone pledged and in the tent and then making them improve has been used before, for example, the Net Zero Asset Managers Initiative. But this only works with transparency, and buried among the press releases was their report that, of the advertised $57 trillion of the initiative’s assets under management, only an estimated 35% is actually in line with net zero.

The U.N. secretary-general announced an expert group to propose clear standards for companies and others making net zero commitments, partly in response to furor around greenwashing. That group is expected to report back in 2022. At the heart of Glasgow was a new seriousness around transparency, credibility, integrity and accountability. Watch this unfold this coming year.

The third leg of a wobbly stool: Loss and damage

Climate action is a three-legged stool – mitigation, adaptation and loss and damage.

Loss and damage was mentioned an unprecedented 12 times in the final Glasgow texts, but without commitments to funding or mechanisms to secure funding. Loss and damage, or reparations, can be understood this way: you broke it (or endangered it), you pay for it. But, afraid of lawsuits in international courts – which the U.S. does not belong to – or afraid of the costs, developed countries have opposed progress on the issue in recent years.

[More than 140,000 readers get one of The Conversation’s informative newsletters.Join the list today.]

Developing countries left Glasgow disappointed, but there was no escaping the debate. Watch for a design of a mechanism to help pay for loss and damage and plans to start funding it. With the next year’s U.N. climate conference in Africa, this will move center stage.

There’s a Scottish proverb, “fools look to tomorrow, wise men [sic] use tonight.” There were wise people in Glasgow, and fools too. But there’s not a night to lose in the year ahead.

Источник: https://theconversation.com/cop26-left-the-world-with-a-climate-to-do-list-here-are-5-things-to-watch-for-in-2022-172024

Nigerian SMEs to benefit from European Investment Bank’s €100 million credit facility to Africa

Nigerian SMEs are part of business investments to benefit from a €100 million credit facility secured by Ecobank from the European Investment Bank.

This comes as EIB lists West Africa as part of the regions to benefit from the credit facility, which aims to support business investments most hit by the COVID-19 pandemic.

In a statement on Thursday, the bank disclosed that the facility will be shared among the West, Central, East and South Africa region through Ecobank and its affiliates for investment projects undertaken by private sector companies.

“The facility is split into three regional facilities: West & Central Africa, Eastern Africa, and Southern Africa. Funding will be provided through Ecobank affiliates, for investment projects undertaken by private sector companies,” the investment bank said.

EIB revealed that the agreement was reached when its Vice President, Ambroise Fayolle, and the CEO of the Agence Française de Développement, Koen Doens, visited Togo.

The bank said the facility, which is a long-term credit facility, will span over nine years.

Speaking on the development, Ade Ayeyemi, the CEO of Ecobank Group, said the credit facility will help facilitate the development of SMEs across Africa.

“This informed the credit facility that we have just secured from the EIB which we believe will deliver real impact in our joint mission to develop SMEs across Africa.

“The €100 million facility will support the recovery of African SMEs from the COVID-19 pandemic while also helping to provide them with the impetus to grasp the immense growth opportunities from the African Continental Free Trade Area vast single market.

“We thank the EIB for its focus and commitment to the continent,” Mr Adeyemi said.

On his part, Mr Fayolle said the agreement will help small and medium enterprises to better tackle the challenges triggered by the outbreak of COVID-19.

“This latest cooperation with Ecobank Group will help companies to better tackle challenges triggered by the COVID-19 pandemic, unlock economic and social opportunities, especially for SMEs and women-owned and women-run enterprises, across Sub-Saharan Africa in the coming weeks,” Mr Fayolle said.

The EIB made the funds available through its COVID-19 Rapid Response Facility, for private sector entities active in eligible productive sectors, and with fewer than 3,000 employees.

It also disclosed that the loan will be accompanied by technical assistance under the AWRI (African Women Rising Initiative) program of the EIB with gender finance-focused training and capacity building for lending to women entrepreneurs.

This method, the EIB stated, was closely aligned with the Ellevate by Ecobank initiative, which supports women-focused businesses across the African continent.

Источник: https://gazettengr.com/nigerian-smes-to-benefit-from-european-investment-banks-e100-million-credit-facility-to-africa/

Top 100 Largest Central Bank Rankings by Total Assets

SWFI Comparison
RankProfileTotal AssetsTypeRegion
1.Federal Reserve System$8,201,651,000,000Central BankNorth America
2.Bank of Japan$6,548,870,000,000Central BankAsia
3.People's Bank of China$5,144,760,000,000Central BankAsia
4.Deutsche Bundesbank$3,103,230,000,000Central BankEurope
5.Bank of France$2,138,080,000,000Central BankEurope
6.Bank of Italy$1,592,110,000,000Central BankEurope
7.Bank of England$1,291,640,000,000Central BankEurope
8.Bank of Spain$1,135,110,000,000Central BankEurope
9.Swiss National Bank$1,131,370,000,000Central BankEurope
10.Central Bank of Brazil$720,710,000,000Central BankLatin America
11.European Central BankCentral BankEurope
12.Central Bank of the Russian FederationCentral BankEurope
13.Reserve Bank of IndiaCentral BankAsia
14.Central Bank of ChinaCentral BankAsia
15.Netherlands BankCentral BankEurope
16.Saudi Central BankCentral BankMiddle East
17.Bank of CanadaCentral BankNorth America
18.Reserve Bank of AustraliaCentral BankAustralia and Pacific
19.Bank of KoreaCentral BankAsia
20.National Bank of BelgiumCentral BankEurope
21.Monetary Authority of SingaporeCentral BankAsia
22.National Bank of the Republic of AustriaCentral BankEurope
23.Central Bank of LuxembourgCentral BankEurope
24.Bank of PortugalCentral BankEurope
25.Bank of MexicoCentral BankLatin America
26.Bank IndonesiaCentral BankAsia
27.Bank of ThailandCentral BankAsia
28.Central Bank of ArgentinaCentral BankLatin America
29.Central Bank of IrelandCentral BankEurope
30.Central Bank of the PhilippinesCentral BankAsia
31.Czech National BankCentral BankEurope
32.Central Bank of LebanonCentral BankMiddle East
33.Central Bank of the Republic of TurkeyCentral BankMiddle East
34.National Bank of PolandCentral BankEurope
35.Central Bank of the United Arab EmiratesCentral BankMiddle East
36.Bank Negara MalaysiaCentral BankAsia
37.Bank of IsraelCentral BankMiddle East
38.Bank of GreeceCentral BankEurope
39.Sveriges RiksbankCentral BankEurope
40.State Bank of VietnamCentral BankAsia
41.Central Bank of IraqCentral BankMiddle East
42.Central Bank of ChileCentral BankLatin America
43.Central Bank of NigeriaCentral BankAfrica
44.Central Reserve Bank of PeruCentral BankLatin America
45.Norges BankCentral BankEurope
46.National Bank of DenmarkCentral BankEurope
47.Qatar Central BankCentral BankMiddle East
48.South African Reserve BankCentral BankAfrica
49.Reserve Bank of New ZealandCentral BankAustralia and Pacific
50.National Bank of SlovakiaCentral BankEurope
51.Bank of the Republic ColombiaCentral BankLatin America
52.Bank of AlgeriaCentral BankAfrica
53.Central Bank of EgyptCentral BankMiddle East
54.Central Bank of the Republic of UzbekistanCentral BankAsia
55.Central Bank of HungaryCentral BankEurope
56.National Bank of UkraineCentral BankEurope
57.Bangladesh BankCentral BankAsia
58.Central Bank of KuwaitCentral BankMiddle East
59.National Bank of SerbiaCentral BankEurope
60.Bank Al-MaghribCentral BankAfrica
61.Monetary Authority of MacaoCentral BankAsia
62.Bank of SloveniaCentral BankEurope
63.Bulgarian National BankCentral BankEurope
64.Bank of LatviaCentral BankEurope
65.Central Bank of CyprusCentral BankMiddle East
66.Bank of LithuaniaCentral BankEurope
67.Croatian National BankCentral BankEurope
68.Bank of GuatemalaCentral BankLatin America
69.Central Bank of UruguayCentral BankLatin America
70.Central Bank of the Dominican RepublicCentral BankLatin America
71.Central Bank of OmanCentral BankMiddle East
72.Central Bank of BoliviaCentral BankLatin America
73.State Bank of PakistanCentral BankAsia
74.Central Bank of JordanCentral BankMiddle East
75.Central Bank of the Republic of AzerbaijanCentral BankAsia
76.Central Bank of TunisiaCentral BankAfrica
77.Central Bank of MyanmarCentral BankAsia
78.Bank of GhanaCentral BankAfrica
79.Central Bank of KenyaCentral BankAfrica
80.Central Bank of MaltaCentral BankEurope
81.National Bank of the Republic of BelarusCentral BankEurope
82.National Bank of AngolaCentral BankAfrica
83.Central Bank of Sri LankaCentral BankAsia
84.Bank of FinlandCentral BankEurope
85.Bank of EstoniaCentral BankEurope
86.Central Bank real peoples bank south africa TurkmenistanCentral BankAsia
87.Central Bank of Costa RicaCentral BankLatin America
88.Central Bank of Trinidad and TobagoCentral BankNorth America
89.Bank of AfghanistanCentral BankAsia
90.Central Bank of NepalCentral BankAsia
91.Central Bank of VenezuelaCentral BankLatin America
92.Reserve Bank of ZimbabweCentral BankAfrica
93.Central Bank of ParaguayCentral BankLatin America
94.Bank of MauritiusCentral BankAfrica
95.Central Bank of IcelandCentral BankEurope
96.Central Bank of Bosnia and HerzegovinaCentral BankEurope
97.Central Reserve Bank of El SalvadorCentral BankLatin America
98.Bank of MongoliaCentral BankAsia
99.Bank of UgandaCentral BankAfrica
100.Bank of AlbaniaCentral BankEurope

If you are a journalist writing a story, an academic writing a research paper or a manager writing a report, we request that you reach out to us for permission to republish this data. Additionally, we may have updated information that is not yet reflected in this table.

If you would like to produce the full rankings page, please reach out to the Research Team.

Top 22 Largest Afore Rankings by Total AssetsTop 21 Largest Airlines Company Rankings by Total AssetsTop 53 Largest Asset Manager Rankings by Total AssetsTop 8 Largest Automobile Company Rankings by Total AssetsTop 100 Largest Bank Rankings by Total AssetsTop 21 Largest Blank Check Company Rankings by Total AssetsTop 4 Largest Broker Dealer Rankings by Total AssetsTop 55 Largest Business Development Company Rankings by Total AssetsTop 17 Largest Cannabis Company Rankings by Total AssetsTop 100 Largest Company Rankings by Total AssetsTop 100 Largest Corporate Pension Rankings by Total AssetsTop 14 Largest Credit Union Rankings by Total AssetsTop 50 Largest Development Bank Rankings by Total AssetsTop 100 Largest Endowment Rankings by Total AssetsTop 18 Largest Export Credit Agency Rankings by Total AssetsTop 13 Largest Family Enterprise Rankings by Total AssetsTop 69 Largest Family Office Rankings by Total AssetsTop 100 Largest Financial Holding Company Rankings by Total AssetsTop 100 Largest Foundation Rankings by Total AssetsTop 7 Largest Government Rankings by Total AssetsTop 34 Largest Government Bank Rankings by Total AssetsTop 46 Largest Government Fund Rankings by Total AssetsTop 39 Largest Healthcare Foundation Rankings eso snb Total AssetsTop 100 Largest Insurance Rankings by Total AssetsTop 3 Largest Land Bank Rankings by Total AssetsTop 15 Largest Media Company Rankings by Total AssetsTop 12 Largest National Oil Company Rankings by Total AssetsTop 5 Largest Native American Fund Rankings by Total AssetsTop 25 Largest Nonbank Lender Rankings by Total AssetsTop 36 Largest Pension Rankings by Total AssetsTop 41 Largest Pharmaceutical Company Rankings by Total AssetsTop 100 Largest Public Pension Rankings by Total AssetsTop 44 Largest Real Estate Company Rankings by Total AssetsTop 100 Largest Real Estate Investment Trust Rankings by Total AssetsTop 18 Largest Retailer Rankings by Total AssetsTop 72 Largest Safety Pension Rankings by Total AssetsTop 100 Largest Real peoples bank south africa Wealth Fund Rankings by Total AssetsTop 82 Largest State Owned Enterprise Rankings by Total AssetsTop 40 Largest Superannuation Rankings by Total Real peoples bank south africa 14 Largest Supranational Entity Rankings by Total AssetsTop 7 Largest Trading Company Rankings by Total AssetsTop 6 Largest Wealth Manager Rankings by Total Assets

Источник: https://www.swfinstitute.org/fund-rankings/central-bank
AfDB approves $116 million loan to Central People's Bank of Morocco
29-06-2018 08:40:05

China is injecting $150 billion into the economy — that may fuel a short-term rally, UBS says

The NIO Inc. ES6 electric sport utility vehicle (SUV) stands on display at the Auto Shanghai 2019 show in Shanghai, China.
Qilai Shen/Bloomberg/ Getty Images

China's move to cut the amount of funds banks need to hold in reserve could boost market sentiment — and that could be good news synchrony bank old navy credit card login stocks in certain sectors, according to investment bank UBS. 

The People's Bank of China said Friday it would cut the reserve requirement ratio (RRR) by 50 basis points for all banks, effective from July 15. The move is expected to release around 1 trillion yuan (or $154 billion) in long-term liquidity into the economy.

The reserve requirement represents the amount of money that banks must hold in their coffers as a proportion of their total deposits. A lowering of that required amount will increase the supply of money that banks can lend to businesses and individuals.

"We think this broad-based RRR cut could boost market sentiment in the short term and improve stock market liquidity," UBS analysts Lei Meng and Eric Lin said in a note on Monday.

Winners and losers

In the short term, the move could boost liquidity-sensitive sectors, such as aerospace and defense, electronics, IT and media, according to UBS.

Companies with strong earnings expectations could also outperform, UBS said, citing sectors such as electric vehicles and batteries, and the new energy sector.

However, the market rally may be short-lived given concerns over China's slowing economic growth, the bank indicated.

"The RRR cut has, to some extent, added to equity investors' concerns that the economic recovery in Q2-Q3 (this year) may not be as good as the market expected," the UBS analysts wrote. "In our view, in the absence of a directional shift to monetary policy loosening, the additional liquidity will not drive a sustained market rally."

UBS analysts pointed out that investors' are worried about the weakening pace of China's economic recovery in the second and third quarter this year — and that may weigh on the banking, insurance and consumer sectors.

'Strong headwinds'

The Chinese central bank's move on Friday signals that the country acknowledges the risks to China's growth, analysts said.

"It is a signal, it's a higher profile message I think, that the authorities are paying attention and alert to the possibility of downside risks," Andrew Tilton, chief Asia Pacific economist at Goldman Sachs, told CNBC's "Street Signs Asia" on Monday.

Separately, Eurasia Group analysts said: "The move, which is expected to inject 1 trillion yuan into the economy, is an acknowledgement of strong headwinds to corporate profitability, financial stability, and growth."

The move "does not detract from PBOC's 'prudent' monetary stance that's done with emphatic easing," said Vishnu Varathan, head of economics and strategy as at Mizuho Bank in a note on Monday.

He added that it focuses on calibrating credit — to restrain credit to frothy or speculative sectors, while boosting it for small- and medium-sized enterprises.

Varathan said that the cornerstone of Beijing's policy calculus is still to mitigate a build-up of financial stability risks.

Источник: https://www.cnbc.com/2021/07/12/china-monetary-policy-pboc-to-cut-rrr-impact-on-economy-and-sectors.html

Nornickel lead an open discussion with Indigenous peoples

The FPIC procedure, first used in Russia by the Norilsk Nickel mining company, has entered a new stage. A second round of consultations with residents of the Arctic workers' village of Tukhard (in the Taimyr Dolgano-Nenets District of the Real peoples bank south africa Territory) took place, the company reported in a press release.

In October 2021, it was reported that FPIC procedure was started.

At the gathering of residents in the framework of the second round, the issues of consent of the residents of the village to the procedure for obtaining FPIC, as well as the formation of a body for making collective decisions of the residents of Tukhard (Council of Representatives) were brought up. The gathering was attended by 78 residents of the village and tundra reindeer herders.

Tukhard was established as a temporary residence for shift workers producing gas in the area in the 1970's, and the development of the village did not provide for the creation of any infrastructure. Due to the lack of possible infrastructure development, taking care of the quality of life, safety and health, the company operating in this region - Norilsk Nickel, offered residents the opportunity to choose a better option for life.

Independent international experts invited by the organizer of the procedure, the Interregional Public Organization for the Protection of the Rights of Indigenous Peoples "KMNSOYUZ", took part in the meetings with residents. Among them are Alexey Tsykarev, a member of the UN Permanent Forum on Indigenous Issues, Corporate Advisor to the World Bank on Indigenous Issues, author of the current World Bank policies on indigenous peoples' rights Navin K. Rai, lawyers in the field of protecting the rights of indigenous peoples of the Russian Federation Mikhail Todyshev and Antonina Gorbunova. The procedure was advised by the UN Special Rapporteur on the Rights of Indigenous Peoples, Professor James Anaya and other experts.

Dr. Navin Rai, who is visiting the Taimyr Peninsula as an Independent Expert for drafting the Indigenous Peoples Policy, noted that "the indigenous peoples of Tukhard, including those families who practice reindeer herding in the tundra, are currently negotiating with the Norilsk Nickel Company the specific parameters for the proposed physical relocation." He underlined that "the principle of Free, Prior and Informed Consent (FPIC) requires that these indigenous peoples have the right to say "no." However, the result of the negotiations may result in an outcome that is acceptable to both the indigenous peoples and the Company."

During the gathering, a Council of representatives of the inhabitants of the village of Tukhard was formed, consisting of 7 people. It included both those who in the future wish to move to other settlements, and those who wish to continue their life in Tukhard. The Council also includes reindeer herders who live on a permanent basis in the tundra. Taking into account the interests of reindeer herders who are registered in Tukhard but do not have a permanent place of residence in the village is one of the main requirements of international experts.

The next round of FPIC negotiations is expected in the first quarter of 2022.

Источник: https://themunicheye.com/nornickel-lead-an-open-discussion-with-indigenous-peoples-4571
real peoples bank south africa

Real peoples bank south africa -

The 4 Biggest Chinese Banks

The 21st century has seen China assume an increasingly large position in global finance. In fact, the biggest four banks in the world (by asset size) are Chinese, according to the 2021 annual rankings by S&P Global Market Intelligence: the Industrial & Commercial Bank of China, the China Construction Bank, the Bank of China, and the Agricultural Bank of China. All four now combined have more than $17.32 trillion in assets and their collective worth is 16.88% higher compared to the previous year, according to S&P.

China’s banking system has undergone major changes in the first two decades of the 2000s, allowing financial institutions to operate significantly more like their counterparts in the West. However, financial operations are still controlled tightly by the government—specifically, through the nation's central bank, the People’s Bank of China (PBOC). Not only is PBOC responsible for the planning and implementation of China’s monetary policy, but it also maintains all of the banking sector’s clearing, payment, and settlement systems, in addition to overseeing the State Administration of Foreign Exchange, or SAFE, that establishes foreign exchange policies. Although they trade on public stock exchanges, each of the Big Four banks remains wholly or predominantly state-owned and headquartered in Beijing.

Here, we provide snapshot analyses of each of the four largest banks in China—and the world.

key takeaways

  • The four largest banks in the world are all Chinese.
  • China's Big Four banks, in order of asset size, are the Industrial & Commercial Bank of China, the China Construction Bank, the Agricultural Bank of China, and the Bank of China.

Industrial & Commercial Bank of China

Occupying the number one spot is the Industrial & Commercial Bank of China (ICBC). It is the largest multinational bank company in the world as measured by total assets—over $5.1 trillion as of 2021—though it's no slouch in other areas either, employing more than 440,000 people. The bank was established in 1984 as a limited company and, as the name implies, specializes in business loans to manufacturers, retailers, power companies, and other businesses.

In 2006, ICBC had what was at the time the world’s largest initial public offering (IPO) with a value of over $21 billion. It was the first company to ever be listed simultaneously on the Hong Kong Stock Exchange and the Shanghai Stock Exchange.

ICBC has more than 400 overseas subsidiaries. Chief among them is the branch it opened in Kuwait in 2014, the first and only Chinese bank there. It was the fourth branch of the bank in the Middle East, which already had branches in Abu Dhabi, Doha, and Dubai. A fifth Middle Eastern branch has now been added in Riyadh. The opening of the Kuwait branch served to advance the bank’s service network in the Middle East and is considered a significant accomplishment in the bank’s strategy to expand operations internationally.

China Construction Bank Corp.

The China Construction Bank (CCB) has $4.3 trillion in assets as of 2021. It operates nearly 15,000 branches as of 2020, with established subsidiaries in Luxembourg (which serves as the bank’s European headquarters), South Africa, South Korea, the United States, and Australia.

The bank, one of China's oldest, was founded in 1954 as the People’s Construction Bank of China, changing its name in 1996. Bank of America obtained a 9% stake in the bank in 2005, facilitating the bank's continuing rapid growth for the next several years (BOA sold its final stake in 2013).

$17.322 trillion

The combined asset value of China's Big Four banks in 2021, according to S&P Global Market Intelligence.

Agricultural Bank of China

The Agricultural Bank of China (ABC), sometimes known as AgBank, was founded in 1951. As its name implies, it originally specialized in financing enterprises in rural China, but more recently it has diversified into corporate and consumer banking services and products—everything from currency trading to credit cards. The bank has over 860 million retail customers and more than 23,000 branches around the world, including just about every major city: London, New York, Sydney, Singapore, Seoul, and Tokyo. In terms of lending, ABC is the world’s third-largest provider.

As of 2021, ABC held $4.2 trillion in assets and employed a similar number of employees to ICBC—459,000 compared to 440,000. When it went public in 2010, the last of the Big Four to do so, it broke ICBC's record as the world's largest IPO to date, racking up $22.1 billion.

Bank of China

Established in 1912 to replace the Imperial Bank of China, the Bank of China (BOC) is the oldest native bank still in existence on the mainland. Its total assets numbered $3.7 trillion in 2021. Its activities include corporate banking, personal banking, investment banking, and insurance. Though no longer the central bank, It is also licensed to issue banknotes in two of China's Special Administrative Regions.

The BOC is considered the most international of all China’s banks, as it has a branch in every inhabited continent in the world. It operates in 61 countries and regions, including Canada, the United States, and throughout the United Kingdom. In 2010, the BOC branch in New York offered renminbi products to Americans, the first major Chinese bank to make such Chinese currency investments available in the U.S.

Источник: https://www.investopedia.com/articles/investing/082015/4-biggest-chinese-banks.asp

About the Timeline

The timeline tracks cyber incidents involving financial institutions dating back to 2007. The timeline is based on Carnegie research and data BAE Systems’s threat intelligence team shares with Carnegie on a monthly basis and are subsequently added to the timeline. The incidents are coded using several indicators and can be filtered accordingly:

  1. incident type;
  2. target country and target region, which include information about the physical location of the victim(s);
  3. actor type, which includes information about the attacker to the extent known;
  4. attribution, which includes an assessment of the level of confidence in the information about the attacker; and
  5. other details about the incident summarized in a short narrative text.

With respect to associating a specific date with a cyber incident, which may be part of a longer cyber operation, the dates for each event are chosen intuitively either using the starting date/month of the incident, if known, or when the incident was first reported. For further questions about the methodology, please contact the team here.

When citing this resource, please use the following format:

Carnegie Endowment for International Peace and BAE Systems. Timeline of Cyber Incidents Involving Financial Institutions. FinCyber Initiative, Carnegie Endowment for International Peace. https://carnegieendowment.org/specialprojects/protectingfinancialstability/timeline (access date).”

Источник: https://carnegieendowment.org/specialprojects/protectingfinancialstability/timeline

How much the world achieved at the Glasgow climate talks – and what happens now – depends in large part on where you live.

In island nations that are losing their homes to sea level rise, and in other highly vulnerable countries, there were bitter pills to swallow after global commitments to cut emissions fell far short of the goal to keep global warming to 1.5 degrees Celsius (2.7°F).

For large middle-income countries, like India and South Africa, there were signs of progress on investments needed for developing clean energy.

In the developed world, countries still have to internalize, politically, that bills are coming due – both at home and abroad – after decades of delaying action on climate change. The longer the delay, the more difficult the transition will be.

There were also signs of hope as coalitions of companies, governments and civil society and indigenous peoples groups forced progress on issues such as stopping deforestation, cutting methane, ending coal use and boosting zero-emissions vehicles. Now, those promises must be acted upon.

As a former senior U.N. official, I’ve been involved in the climate negotiations for several years. Here are five key elements to watch over the coming year as countries move forward on their promises.

Bending the curve to 1.5°C

Going into the Glasgow summit, countries’ commitments had put the world on a trajectory of warming about 2.9°C this century, well beyond the 1.5°C goal and into levels of warming that will bring dangerous climate impacts. Indian Prime Minister Narendra Modi’s announcement in the first days (much to the surprise of Indian observers) that India would reach net zero emissions by 2070 and generate 50% of its energy from renewables by 2030 helped lower that trajectory to 2.4°C.

Countries agreed to return for the next round of climate talks in November 2022 in Sharm el-Sheikh, Egypt, with stronger commitments to put the world on track for 1.5°C.

Illustration showing the differences between current policies and commitments.

That turns the spotlight back on national action. China reminded everyone, while throwing shade at the U.S., that goals must be backed with plans for implementation. U.S. Cabinet members and Congressional leaders had much to say in Glasgow about being “back,” after the previous administration withdrew from the Paris climate agreement. Yet they had little to offer in terms of the U.S. share of the finance, and the world cast a worried eye over its continued partisan politics.

More South Africa deals, please

While all countries are important for reaching the world’s climate goals, some are more important than others.

Countries that are high emitters and heavily dependent on coal will be a focus of international attention in the coming months, not just to phase down coal but importantly to fund a just transition to green sources of energy and the necessary electricity infrastructure.

The poster child for this approach is South Africa, where a presidential commission has worked for three years to develop a just transition plan and has been able to attract US$8.5 billion from the U.K., the EU, the U.S. and others to help them execute on it. That, coupled with guarantees and other financial aid that could help draw further private investment, could become a replicable model.

The key was national ownership. In the year ahead, look for plans to come together in Indonesia and Vietnam and other countries needing to fast forward away from coal.

Getting climate finance flowing

Many developing countries already have national platforms to deliver on their commitments, but throughout Glasgow’s conference halls, officials complained that finance wasn’t flowing to help them succeed.

This isn’t just a climate finance problem. Many countries are also facing economic disruption from the COVID-19 pandemic and have chafed at the way international financial institutions fail to address issues of access to finance and trade. Advanced economies didn’t come to Glasgow ready to provide even the $100 billion a year in finance promised a decade ago, which shrank the landing zone for agreement on all issues.

The Chinese calculate the value of growth lost through a few measures, such as floods and heat. Unsurprisingly it amounts to trillions of dollars. It may be a useful exercise whenever a government balks at the “cost” of climate action.

In the end, governments agreed to reach the $100 billion annual climate finance target within the next two years and agreed that adaptation funding should double. But with the U.N. Environment Programme estimating that adaptation funds will need to quadruple by 2030 from today’s $70 billion, there’s a long way to go.

The Glasgow Climate Pact also criticized the traditional channels of public funds that set the conditions for finance to flow, including the International Monetary Fund and the World Bank. Look for G7 and G20 countries, the largest shareholders of these institutions, to examine how they can be managed differently to respond to the climate emergency. All eyes are on Italian Prime Minister Mario Draghi, current president of the G20 and an experienced central banker. Actions could range from bolstering the Climate Investment Funds, managed by the World Bank, and loosening the terms and conditions of the IMF’s proposed management of the reallocation of special drawing rights, to incentives to leverage more private funds and take more risk.

Finance pledges and cries of ‘greenwashing’

In the first week of Glasgow, the titans of the financial industry heralded the Glasgow Financial Alliance for Net Zero – the commitment by financial institutions representing $130 trillion in assets to accelerate the transition to a net-zero emissions economy. The shifts within financial markets away from exposure to carbon emissions was palpable. But without more detail, the announcement attracted cries of “greenwashing.”

Organizers of the alliance will need to work hard to hold members to account, and throw out those still underwriting the coal industry, for example. The principle of getting everyone pledged and in the tent and then making them improve has been used before, for example, the Net Zero Asset Managers Initiative. But this only works with transparency, and buried among the press releases was their report that, of the advertised $57 trillion of the initiative’s assets under management, only an estimated 35% is actually in line with net zero.

The U.N. secretary-general announced an expert group to propose clear standards for companies and others making net zero commitments, partly in response to furor around greenwashing. That group is expected to report back in 2022. At the heart of Glasgow was a new seriousness around transparency, credibility, integrity and accountability. Watch this unfold this coming year.

The third leg of a wobbly stool: Loss and damage

Climate action is a three-legged stool – mitigation, adaptation and loss and damage.

Loss and damage was mentioned an unprecedented 12 times in the final Glasgow texts, but without commitments to funding or mechanisms to secure funding. Loss and damage, or reparations, can be understood this way: you broke it (or endangered it), you pay for it. But, afraid of lawsuits in international courts – which the U.S. does not belong to – or afraid of the costs, developed countries have opposed progress on the issue in recent years.

[More than 140,000 readers get one of The Conversation’s informative newsletters.Join the list today.]

Developing countries left Glasgow disappointed, but there was no escaping the debate. Watch for a design of a mechanism to help pay for loss and damage and plans to start funding it. With the next year’s U.N. climate conference in Africa, this will move center stage.

There’s a Scottish proverb, “fools look to tomorrow, wise men [sic] use tonight.” There were wise people in Glasgow, and fools too. But there’s not a night to lose in the year ahead.

Источник: https://theconversation.com/cop26-left-the-world-with-a-climate-to-do-list-here-are-5-things-to-watch-for-in-2022-172024
by: Bob Koigi Tags:

AfDB

Banking

Import Export Trading

Morocco

The Board of Directors of the African Development Bank Group has approved a line of credit of 100 million euros for the benefit of the Central People's Bank of Morocco (BCP).

This facility will enable BCP to strengthen its business financing activities in the sectors of agriculture, education, health and infrastructure in West Africa, mainly in Côte d'Ivoire, Guinea in Mali and Senegal.

The credit line will concretely contribute to improving the economic competitiveness of the countries concerned, generating public and export revenues and creating employment opportunities, particularly in labor-intensive sectors such as agriculture. . It also promotes regional integration and the development of trade.

The operation is in perfect harmony with the Bank's key policies and strategies. Aligned with the Bank's Decade Strategy and the Bank's 2014-2019 Financial Sector Development Strategy and Strategy , it addresses two of its top five priorities , Feeding Africa and Industrializing Africa .

"Our partnership with the People's Central Bank will support Morocco's South-South cooperation," said Mohamed El Azizi, Director General of the African Development Bank for the North Africa Region. "This mechanism will serve as a lever to strengthen production capacity and boost growth in West Africa, through the financing of private sector development", said, for its part, the country manager of the Bank in Morocco , Leila Mokaddem.

The partnership between the Kingdom of Morocco and the African Development Bank Group, which has lasted for nearly half a century, has more than 160 projects and programs, totaling more than $ 10 billion in financial commitments.

These funds cover different sectors, including energy, water, transport, agriculture and social development.

BCP is a leading Moroccan banking group, a true continental player in the financing of the private sector. The group is present in sub-Saharan Africa through its subsidiary Banque Atlantique.

www.afdb.org

www.gbp.ma



Источник: https://africabusinesscommunities.com/