Loan system – Alba Ruthenicae http://albaruthenicae.info/ Sat, 01 Jan 2022 07:31:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://albaruthenicae.info/wp-content/uploads/2021/07/icon-2021-07-06T145847.214-150x150.png Loan system – Alba Ruthenicae http://albaruthenicae.info/ 32 32 Bridging the Gap: Rethinking Pathways to University https://albaruthenicae.info/bridging-the-gap-rethinking-pathways-to-university/ Sat, 01 Jan 2022 06:08:20 +0000 https://albaruthenicae.info/bridging-the-gap-rethinking-pathways-to-university/ Click to enlarge Collectively and individually, survival and prosperity depend on an education that enables a person to find a rewarding niche. Throughout the 20th century, “higher education” generally meant at least a four-year liberal arts or science degree, undertaken immediately after high school. This paradigm is seriously frayed. About 40 percent of students who […]]]>

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Collectively and individually, survival and prosperity depend on an education that enables a person to find a rewarding niche. Throughout the 20th century, “higher education” generally meant at least a four-year liberal arts or science degree, undertaken immediately after high school.

This paradigm is seriously frayed. About 40 percent of students who enroll in college never graduate. And public confidence in the benefits of higher education has declined, with a Pew Research poll revealing 38% believe colleges and universities have a negative effect on the way things go, up 12 points percentage in just seven years. Meanwhile, a flawed student loan system has fueled rising tuition fees and burdened individuals with massive debt that cannot be discharged even in bankruptcy.

The administrators of the Hudson Valley educators are keenly aware of the crisis and have taken steps to address its components. This is what gave the impetus to “Rethinking College,” a virtual conference hosted last month by Bard Early College, which saw two high school dual-track New York students moderate a discussion with Roberto J Rodriguez, deputy secretary of planning, evaluation and policy development at the Department of Education, and Kevin Carey, vice president of education policy and knowledge management at the New America think tank . What has emerged is that young adults are far more capable than the old paradigm attributes to them, but they are in dire need of opportunities surrounded by support.

An advance

Bard’s Early College Program, begun with the founding of a private residential outpost in 1979 and more fully articulated in President Leon Botstein’s 1997 book Jefferson’s Children: Education and the Promise of American Culture, surged in before around the turn of the century, when the school embarked on the creation of a multi-site public network of early childhood colleges.

Two decades later, there are seven tuition-free satellite campuses co-located with high schools in Manhattan, Queens, Newark, New Orleans, Cleveland, Baltimore, and Washington, DC. Students – most low-income, about 75% students of color, and about half the first in their families to attend college – can graduate with 60 college credits and an AA degree. A related program, the Bard Sequence, partners with 14 districts through the Local Boards of Cooperative Educational Services (BOCES) to provide personalized learning and credit opportunities at the college level.

Traditional colleges need to do a better job supporting students in their transition to adult learning, says Carey. “The industry tends to focus on throughput and enrollment and not be responsible for the quality of education or the success of the career transition. Some go to college and end up in a worse situation. We need to refocus on the needs of students, which are almost as diverse as the human condition. ”

Educators agree that an opportunity to pursue college or other career-oriented options should be available in mid-teens or even earlier, and connectivity between high school and post-secondary education is lacking. In the traditional American system, Carey notes, the two levels are “funded and governed in completely different ways and beyond that there is a completely different collective perspective on the balance of responsibilities between student and institution – it created a chasm with a rocky bridge between what should really be close, ”says Carey.

Preparation for life

Other private colleges in the Hudson Valley are actively trying to replace this rickety bridge with a smooth, well-paved span. Marist offers an award-winning summer pre-college where high school students can immerse themselves in any of 13 courses over three weeks, earning early credit while getting a taste of what the experience entails. Vassar offers the Exploring College program, where high school students, mostly from neighboring public schools in Poughkeepsie, can access preparation workshops, tutoring, and community development activities, as well as a class. three-week summer intensive.

“We are fortunate to have so many great bridging programs, and Exploring College gives students a chance to see what studying with a professor is like and to be motivated, to see a path,” said Elizabeth Bradley , president of Vassar College. “But the whole concept of life preparation has to start much earlier, with secondary and even early childhood educators presenting a panoply of ways for students to improve their well-being and livelihoods. Boot camps, vocational programs – a wide variety of offerings help reduce high school dropout rates and better prepare learners for the next stage in life.

BOCES has offered teens a chance to dive into the waters of career preparation for over 70 years, providing shared services to school districts to help them achieve educational and financial goals that would be difficult on their own. “We offer 26 professional and technical concentrations in our center in Port Ewen, ranging from aviation and computer technology to animal science and fashion design, and our aim is to inspire and train employable and good people. , as well as becoming an economic engine so that graduates have a direct and reliable path to the skilled trades and the jobs that are actually available, ”says Peter Harris, director of learning and design for Career Pathways programs at Ulster County BOCES. “Right now we have a group of six kids – we call them young professionals – earning very high salaries by installing split heat pumps, using what they’ve learned in our HVAC programs and electricity. Oh, and they’re employed by a graduate of the program.

Harris says vocational and technical education programs still meet some resistance, although it’s clear that getting excited about the future can help keep a student long enough to earn a Regents degree that will allow them to pursue n any option he can possibly explore. “We want to make sure the children have relevant internships and day schools; with our synthesis program, no student completes their final year without having been exposed to industry, ”he says. “You would think that would be the norm everywhere, but educators tend to regard class time as sacred. We’re trying to break that mold and get them out, where they can hang on to something.

Like Bradley, Harris would like to see practical preparation for the real world start much younger. “In homeschools and sixth grade careers, we give kids a career interest survey. I think my child’s results were artist and surgeon, ”he says. “But then they spend years in class not being able to explore what their results might actually mean. Children are capable of much more than they are allowed to do, and I think much earlier exposure to vocational and technical education would be very productive.

Student support is crucial

Soft skills – personal foundations that make it possible to function no matter what path you choose – can be a natural byproduct of earlier exposure to the chance to immerse yourself in your passion, whether academic or technical or both. This side effect, combined with a greater awareness of social and emotional learning needs, makes the rickety bridge easier to cross. As it is, many students enter college without essential skills such as time management.

“The colleges do a great job of recruiting, but not so well in terms of scaffolding support,” Rodriguez told the Bard conference, saying that while he was lucky enough to be well prepared, his fellow students University of Michigan classrooms have often floundered when exposed to large lectures, unsupervised study routines, and the need to make curriculum choices at the same time. “Student support must be a priority not only for obtaining credits, but also for maintaining mental and psychosocial health on a daily basis. ”

Almost 40 percent of those who drop out of college do so for financial reasons. Dual credit programs solve part of the problem, but need-based Pell Grants, which covered over 75 percent of the cost of attending public colleges in the 1970s, now cover less than 30 percent. The industry of secured student loans, intended to supplement work-study programs, scholarships and scholarships, has been hit by the disease of predatory capitalism. Private colleges are grappling with affordability on several fronts.

In an email, Marist College President Kevin Weinman outlined a strategy for engaging in needs-based support: managing funding allocations to meet that commitment, finding diverse funding sources and solid and manage costs; this support, he stresses, must cover the expenses of study abroad, internships, tutoring and other vital elements. Weinman and his wife just announced their own donation of $ 250,000 to the school for access and equity initiatives.

But no single family or institution can fix the mess on its own and make higher education what it should be: a broad road to self-fulfillment and self-sufficiency with a ramp for everyone. “We must remember that our public education system was designed by a committee of 10 people in the 1890s, with the goal of US dominance in the economy and war, ”says Harris,“ and a lot of rote learning built in. Teens today are likely to change what they do seven times in their working lives, and we desperately need dynamic, viable options that improve their process of becoming who they are.


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Wales loan four million LFT tests to England in times of shortage, says Mark Drakeford https://albaruthenicae.info/wales-loan-four-million-lft-tests-to-england-in-times-of-shortage-says-mark-drakeford/ Thu, 30 Dec 2021 15:21:09 +0000 https://albaruthenicae.info/wales-loan-four-million-lft-tests-to-england-in-times-of-shortage-says-mark-drakeford/ // = do_shortcode (‘[in-content-square]’)?> Prime Minister Mark Drakeford. Christmas photo. Welsh Government Wales will loan England four million lateral flow tests due to a shortage, said Mark Drakeford. It comes after British pharmacies and scientists warned the lack of LFT tests in England was becoming a “huge” problem, as they were requested every five minutes […]]]>
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Prime Minister Mark Drakeford. Christmas photo. Welsh Government

Wales will loan England four million lateral flow tests due to a shortage, said Mark Drakeford.

It comes after British pharmacies and scientists warned the lack of LFT tests in England was becoming a “huge” problem, as they were requested every five minutes to cope with the Omicron surge in cases.

In a statement, Mark Drakeford said that “the demand for PCR tests and lateral flow devices continues to increase and has reached new records.”

“Wales has a large stock of lateral flow tests sufficient to meet our needs over the coming weeks,” he said.

“The Minister of Health today agreed to loan four million of these additional tests to the UK NHS, bringing this mutual aid to 10 million lateral flow tests.

“The distribution of lateral flow test kits via home delivery and pharmacies remains the responsibility of the UK government and we are working with them as this increases the capacity of the system.”

UK Health Secretary Sajid Javid previously said the UK government would triple the provision of lateral flow tests to 300 million per month by February, but added that as current shortages persist, “we expect to have to restrict the system at times over the next two weeks. “

He advised the public to take a test “when they engage in activities that carry the most risk and before coming into contact with people at risk of serious illness.”

Leyla Hannbeck, managing director of the Association of Independent Multiple Pharmacies, told BBC Radio 4 that “the scale of the problem is huge because demand is high, due to current guidelines.”

“People act responsibly in wanting to be tested. And it’s Christmas time and the New Year is just around the corner and people want to be with their family and friends, ”she said.

Professor Ravi Gupta, a clinical microbiologist at the University of Cambridge, told Sky News earlier that the lack of available tests was “of great concern”.

“M he said.


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What you need to know about the overhaul of the civil service loan forgiveness https://albaruthenicae.info/what-you-need-to-know-about-the-overhaul-of-the-civil-service-loan-forgiveness/ Tue, 28 Dec 2021 18:55:29 +0000 https://albaruthenicae.info/what-you-need-to-know-about-the-overhaul-of-the-civil-service-loan-forgiveness/ US Secretary of Education Miguel Cardona. Bloomberg | Bloomberg | Getty Images After paying off her student loans since 2005, Karen Tongson is finally free from her debt. In November, Tongson, an English and Gender Studies teacher, logged into her loan account and discovered that her balance had dropped from $ 47,000 to $ 0, […]]]>

US Secretary of Education Miguel Cardona.

Bloomberg | Bloomberg | Getty Images

After paying off her student loans since 2005, Karen Tongson is finally free from her debt.

In November, Tongson, an English and Gender Studies teacher, logged into her loan account and discovered that her balance had dropped from $ 47,000 to $ 0, thanks to the loan cancellation program at public service.

This program, enacted in 2007 by then-President George W. Bush, allows nonprofit and government employees to cancel their remaining federal student loans after 10 years, or 120 payments.

However, the program has been defined by problems and rejections, with borrowers often believing that they are paying for loan cancellation only to learn at some point in the process that they are not eligible, often for far-fetched reasons and unclear. Lenders have been accused of misleading borrowers and mis-counting their eligible payments.

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“I noticed a lot of the payments I made were not being counted,” said Tongson, 48. “And I never understood why.”

Tongson’s surprise last fall came as a result of corrections made by the Biden administration to the loan program. He reassessed borrowers’ demands and recounted their payments, and estimates that more than 500,000 people could now be closer to their loan cancellation.

The US Department of Education also reimbursed Tongson $ 20,000 for his years of overpayments, and many other borrowers are also expected to be repaid, experts say.

Here’s what borrowers need to know about the updated program rules.

How are payments recorded now?

To get your PSLF student loans canceled, you must have made 120 payments over 10 years while working in the public service.

The problem the Biden administration is working to solve is that many borrowers are being told by their lenders that they have made less payments than they actually have, or that some of their payments go unaccounted for. for technical reasons, such as the type of loan they hold or overdue by a month.

To give people the proper credit for their payments, the administration now looks not at the number of your eligible payments, but the months of repayment, said Elaine Griffin Rubin, senior contributor and communications specialist at Edvisors.

Even if you haven’t made payments throughout the government’s pandemic student loan hiatus, those months still count toward civil service loan cancellation, added Griffin Rubin.

“Payments made under any federal student loan program under any repayment plan can count,” said Mark Kantrowitz, a higher education expert. “This includes partial payments and late payments. “

How can I be sure to benefit from the new rules?

You want to act as quickly as possible, Kantrowitz said. That’s because the Biden administration’s new rules for canceling civil service loans are set to expire on October 31, 2022.

If you have a Federal Family Education Loan (FFEL) or Federal Perkins Loan, which normally does not count towards the Public Service Loan Cancellation, but now does so temporarily, you will need to consolidate them. in direct loans with your service agent.

“It typically takes 30 to 45 days for consolidation to occur,” Kantrowitz said.

“Borrowers should do this even if they don’t expect to receive 120 payments by the deadline, as previously ineligible payments will only count if they do,” he added.

In addition, borrowers will also need to prove that their work has been viewed as a public service for the entire period of time that they are trying to get for forgiveness. To do this, you will need to file with your service agent an employer certification form for each employer that you have had throughout your schedule.

Borrowers who are currently unemployed or not working in the public service can still be granted a pardon now, provided they have made 120 qualifying payments in the past, Kantrowitz added.

Some borrowers seem to get forgiveness automatically after the government audits these accounts, but following these steps will ensure you benefit from the new rules.

Will I be reimbursed?

“Any payments made beyond 120 will be automatically refunded as long as these additional payments have taken place after consolidation,” said Betsy Mayotte, president of the Institute of Student Loan Advisors, a nonprofit organization.

If some of your payments were ineligible for some reason other than an unreadable loan type, you should still get a refund as long as you hit those 120 payments.

Refunds are not expected to have any tax implications, Mayotte said.

“However, some states tax the amount remitted under the PSLF,” she added.


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Freeport Volunteer Fire Department to Receive New Borough Funded Fire Truck https://albaruthenicae.info/freeport-volunteer-fire-department-to-receive-new-borough-funded-fire-truck/ Sun, 26 Dec 2021 22:07:19 +0000 https://albaruthenicae.info/freeport-volunteer-fire-department-to-receive-new-borough-funded-fire-truck/ Freeport officials have agreed to fund a new fire truck for volunteer firefighters. The Board voted unanimously to approve a 10-year, $ 250,000 loan through Volunteer’s Financial Services (VFS) at a fixed rate of 3.35%. These funds, plus $ 300,000 in capital project funds, will be used to cover the cost of a new truck […]]]>

Freeport officials have agreed to fund a new fire truck for volunteer firefighters.

The Board voted unanimously to approve a 10-year, $ 250,000 loan through Volunteer’s Financial Services (VFS) at a fixed rate of 3.35%.

These funds, plus $ 300,000 in capital project funds, will be used to cover the cost of a new truck from Pierce Manufacturing, based in Wisconsin.

VFS was founded in 1987 by a volunteer firefighter and specializes in financing devices and building fire stations.

Councilor Josh James, a borough firefighter, did not have to withdraw from the vote, according to borough lawyer Matthew Kalina. Board members Mary Bowlin and Justin DeAngelis resigned ahead of this month’s meeting.

Annual loan payments are estimated at approximately $ 29,000 and would be covered by the borough’s annual contribution of $ 30,000 to the fire department.

The new custom model will replace an aging truck. The 1987 Mack Grumman Fire Truck of the Volunteer Fire Department failed a pump test this year.

That, combined with other factors, such as rusting in several places, pushed it beyond the standards for emergency vehicles in service under the National Fire Protection Association (NFPA), the Marshal said. Michael Greiser fires, and he must be removed.

The purchase of this new fire truck will help the department achieve NFPA compliance, which will be achieved by increasing staffing, personnel, equipment and water / pump capacity.

It will also help increase its rating with the Insurance Services Office (ISO). ISO is an advisory and rating body for the property and casualty insurance industry.

Greiser takes care of the paperwork for the purchase on behalf of the borough.

“We contacted the manufacturer with the signed version of the purchase contract submitted to them last night,” he said. “We are working on the documents to finalize the loan as the last part of the buying process.”

Greiser said the fire truck committee will meet once again ahead of production to finalize a final set of specifications for the truck.

The truck is still in the design phase.

It should not be received by the borough for at least 15 months.

The specifications offered include a tank of at least 750 gallons and a pump capable of handling 2,000 gallons per minute. The truck will be equipped with a remote-controlled deluge gun, a low rear hose bed, a 360-degree camera system as well as 360-degree reflective stripes and LED lighting.

Ladders and other equipment would be stored inside the truck rather than on its sides.

Council Chairman Clint Warnick said the cost of the fire truck is expected to increase by about $ 40,000 next year, so it was best to approve the purchase this month.

“We’ve been working with firefighters on this topic for six to eight months since we started the talks,” Warnick said. “The borough has an obligation to ensure the safety of the community. By doing this, we made it happen.

James said the new truck would be a boost for the department as well as the borough.

“This is good news,” he said. “The fire department has a 34 year old engine that has served the borough very well for years. However, he has his problems. The purchase of this new engine allows the fire department to benefit from the most sophisticated and modern technology and engineering available, along with long-lasting service and warranty to enhance the longevity of this engine. in the district.

“The purchase of this engine will also increase the borough’s ISO (fire insurance) rating. As a borough citizen, this is good news for everyone.

Michael DiVittorio is a writer for Tribune-Review. You can contact Michael at 412-871-2367, mdivittorio@triblive.com or via Twitter .



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Are we done with non-performing loans? https://albaruthenicae.info/are-we-done-with-non-performing-loans/ Fri, 24 Dec 2021 18:26:05 +0000 https://albaruthenicae.info/are-we-done-with-non-performing-loans/ A closed clothing factory can be seen in an archive photo. Many businesses are doomed to fail even if they have entered into a settlement plan for their bad loans because they do not have access to banks. [AMNA] When you inject nearly 43 billion euros into the economy through government-backed support programs that account […]]]>

A closed clothing factory can be seen in an archive photo. Many businesses are doomed to fail even if they have entered into a settlement plan for their bad loans because they do not have access to banks. [AMNA]

When you inject nearly 43 billion euros into the economy through government-backed support programs that account for 25% of gross domestic product, and your GDP ends up making up for its 13.4% losses in the third quarter, well, that’s not a serious reason to get upset.

It is positive that the economy has almost returned to what it was in 2019, but this is due to the 43 billion euros injected, the increase in private and public consumption and the construction of new housing, with a parallel jump in the external balance of payments: The economic model has not changed and, with a few exceptions, our exports remain limited, low-tech and / or expensive. Each jump in the GDP is accompanied by a jump in the external deficit, which shows the low total productivity of the country.

Some celebrations, even excessive ones, on the part of the government would not be a problem if they did not mask inactions that could undermine the course of the economy. Among them, virtual reality in the management of bad debts.

Bad debts which have been discharged by the banking system via securitizations, as well as those which will be discharged in the future in the same way, are estimated at around 100 billion euros. These loans would have been transferred to special funds to reduce them, to separate the wheat from the chaff, to help those who really want a fresh start and, on the other hand, to shut down zombie businesses, to prevent taxpayers and depositors to lose money, to consolidate the markets.

And what happened? In reality, nothing. It is as if bad debts disappear the moment they are transferred to funds. Or as if suddenly there was money to be spent.

This effort to get out of the rut could well spell the death knell for some companies. Even in the best of circumstances, some companies’ efforts to recover are almost doomed. Many companies are held hostage because, although they have entered into some sort of agreement on their loan, they are denied all access to banking services. The guidelines of the Single Supervisory Mechanism (SSM) prevent banks from financing them, but without new loans, these companies will not be able to stand up for the long term.

It would make more sense to find a bad debt arrangement, test whether companies can / want to honor their obligations, establish whether their shareholders are willing to pay out of pocket and then reestablish their relationship with the banking system. None of this is done.

This is one side of the rut. The other is zombie companies and bad payers. Not only do they resist any debt consolidation, but many of them have become more rigid, having received state aid with (non) repayable advances, money for rent, electricity, ‘water, telephone, etc., with taxpayers’ money, as part of the state support plan. for the economy. Pressure can be exerted on them either by selling the assets of their business or by selling the business itself to new owners.

The tool for exerting such pressure is well known and is called lockdowns, but lockdowns are something no government wants to hear in a pre-election time like the one we are experiencing now.

And what happens after the lockdown? Well, if the gap between forecasted and actual bad debt income continues to widen for the funds that bought them, the next victim may be the 22 billion euros in state guarantees from the protection scheme. of Hercules assets.


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Central bank says more deposits, less loans, sign of improving liquidity https://albaruthenicae.info/central-bank-says-more-deposits-less-loans-sign-of-improving-liquidity/ Thu, 23 Dec 2021 01:15:14 +0000 https://albaruthenicae.info/central-bank-says-more-deposits-less-loans-sign-of-improving-liquidity/ Nepal Rastra Bank officials said the gap between deposits and credit, which has led to the current shortage of loanable funds in banks and financial institutions, has turned towards a correction. According to them, this is reflected in the reverse trend of deposit collection and credit expansion in the third week of December. Banks and […]]]>

Nepal Rastra Bank officials said the gap between deposits and credit, which has led to the current shortage of loanable funds in banks and financial institutions, has turned towards a correction.

According to them, this is reflected in the reverse trend of deposit collection and credit expansion in the third week of December. Banks and financial institutions have collected 116 billion rupees in deposits through December 21 since the start of the 2021-2022 fiscal year in mid-July. During the same period, credit reached 438 billion rupees.

But, this trend was completely reversed in the week of December 16-21, according to the central bank, as banks and financial institutions collected 27 billion rupees in deposits and extended credit of 7 billion rupees.

“The latest data shows that the trend of expanding deposits and credit has reversed,” Prakash Kumar Shrestha, head of the economic research department at the central bank, said during a meeting in Kathmandu on Wednesday.

Central bank officials said recent moves to control imports and the central bank’s pumping of liquidity into the banking system would also help balance deposit credit growth.

As the country’s economy recovers from the disastrous effects of the Covid-19 pandemic, demands for credit have increased for importing goods.

With banks and financial institutions lending excessively to finance imports, this caused a liquidity crisis in the banking system and this crisis was compounded by the failure of the government to make capital expenditures.

Now the government and the central bank have taken a number of steps to rectify the situation, with the central bank injecting liquidity into the banking system through repurchases, overnight reverse repurchases and reverse repurchase agreements. ‘outright purchases and refinancing facilities. The government has also allowed banks and financial institutions to account for 80 percent of funds owned by local governments as deposits in order to reduce the credit-to-deposit ratio.

The repo is a monetary instrument whereby the central bank buys securities from banks and financial institutions while providing them with funding, while the overnight repo is a short repo.

The central bank also requires importers to deposit 100 percent cash in banks to open the letter of credit for importing certain goods the government wants to discourage from importing.

Central bank governor Maha Prasad Adhikari said the measures were taken as short-term solutions to deal with the liquidity crisis. “Our preparations are underway for medium and long term strategies to deal with the recurring liquidity crisis in the banking system,” he said.

While the increase in import financing has resulted in a shortage of liquidity in the banking system, the country is also suffering from a huge balance of payments deficit and declining foreign exchange reserves.

The balance of payments, which refers to the balance between money leaving the country and money entering, slipped to a deficit of 150.38 billion rupees in the first four months of the current fiscal year and while gross foreign exchange reserves fell by 11%. percent to Rs1244.85 billion in mid-November from mid-July, according to the central bank.

Current foreign exchange reserves would be sufficient to import goods and services for 7.2 months, according to the central bank.

But, central bank officials said they noticed signs of depletion of foreign exchange reserves as early as April. But the central bank did not intervene even through the monetary policy for the current fiscal year 2021-22 released in mid-August, about a month after the start of the fiscal year.

Experts have sounded the alarm on the state of the economy, saying the current deterioration in economic indicators along with the potential fertilizer crisis and the potential spread of the Omicron variant could cause economic catastrophe.

However, central bank officials argue that they have not stepped in to help economic activities thrive after the Covid-19 pandemic and have also paved the way for the economy to self-correct.

“Sometimes the economy corrects itself as part of a cyclical model. But if that doesn’t happen, we have to intervene politically, ”Shrestha said.


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Tunisia: AfDB approves a loan of 104 million euros for the implementation of the 2nd phase of Pmir II in Tunisia https://albaruthenicae.info/tunisia-afdb-approves-a-loan-of-104-million-euros-for-the-implementation-of-the-2nd-phase-of-pmir-ii-in-tunisia/ Tue, 21 Dec 2021 13:18:25 +0000 https://albaruthenicae.info/tunisia-afdb-approves-a-loan-of-104-million-euros-for-the-implementation-of-the-2nd-phase-of-pmir-ii-in-tunisia/ Tunis / Tunisia – The African Development Bank Group (AfDB) has approved a loan of 104 million euros (equivalent to 330 million dinars) for the implementation of the 2nd phase of the road infrastructure modernization program ( PMIR II) in Tunisia. The Group’s board of directors approved this loan on December 17 in Abidjan, the […]]]>

Tunis / Tunisia – The African Development Bank Group (AfDB) has approved a loan of 104 million euros (equivalent to 330 million dinars) for the implementation of the 2nd phase of the road infrastructure modernization program ( PMIR II) in Tunisia.

The Group’s board of directors approved this loan on December 17 in Abidjan, the ADB said in a statement on Tuesday.

The “PMIR II” program aims to set up an efficient and sustainable transport system capable of developing intra and interregional trade. It aims to ensure greater accessibility to priority regions and the country’s main development poles in order to support growth and provide conditions conducive to youth employment, according to the same source.

The project also aims to rehabilitate and modernize more than 230 kilometers of classified roads in the governorates of Gafsa, Kairouan, Kasserine, Sidi Bouzid and Siliana.

It will also contribute to the periodic maintenance of 1,000 kilometers of roads, part of which will be provided by 80 microenterprises created for this purpose. It will also support the development of a 2×2 lane road on the RN2 linking Enfidha to Kairouan.

By 2026, this new operation will help to better integrate the territories by improving access to the road network for 700,000 users ”, declared the Director General of the ADB for North Africa, Mohamed El Azizi.

It will reduce by more than half the average duration of journeys on the RN2. Almost 1,800 new jobs will be created. This is a new step in a fruitful cooperation that has modernized over 70% of Tunisia’s classified road network over the past decade.

According to the bank, the project is in line with the African Development Bank’s “High 5” strategic priorities.

It is part of the Bank’s 2013-2022 Ten-Year Strategy, which aims to lay the foundations for sustainable and inclusive growth on the continent.

The active portfolio of the African Development Bank Group in Tunisia amounted to 1.8 billion euros as of November 30, 2021. It covers the sectors of health, social development, water, agriculture. , energy, transport, industry, digital and finance.


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Chinese loan increases by $ 330 million in one year to reach $ 3.59 billion on 15 projects https://albaruthenicae.info/chinese-loan-increases-by-330-million-in-one-year-to-reach-3-59-billion-on-15-projects/ Sun, 19 Dec 2021 23:12:45 +0000 https://albaruthenicae.info/chinese-loan-increases-by-330-million-in-one-year-to-reach-3-59-billion-on-15-projects/ Posted 20 December 2021 Nigeria’s debt to China rose from $ 3.26 billion as of September 30, 2020 to $ 3.59 billion as of September 30, 2021, an increase of $ 330 million in one year. This emerges from an analysis of data on the external debt stock of the Debt Management Office. Although the […]]]>

Nigeria’s debt to China rose from $ 3.26 billion as of September 30, 2020 to $ 3.59 billion as of September 30, 2021, an increase of $ 330 million in one year.

This emerges from an analysis of data on the external debt stock of the Debt Management Office.

Although the federal government has been mostly secretive about the terms of its Chinese loan deal, the DMO has made a few statements about them lately.

In a June 2020 statement, the DMO said, “Total borrowings from China, amounting to $ 3.121 billion as of March 31, 2020, are concessional loans with interest rates of 2.5 billion. % per year, a period of 20 years and a grace period (moratorium) of seven years.

According to the DMO, the conditions comply with the provisions of section 41 (1a) of the 2007 Tax Responsibility Act.

In addition, the low interest rate lowers the cost of interest to the government while the long term allows loan principal to be repaid over many years.

In a new document titled “Chinese Loan Status as of September 30, 2021,” the DMO revealed that 15 projects were funded by loans acquired from China. These projects range from water supply, power generation, railways, airport terminals, communication to agricultural transformation.

The first loan project was for the Nigerian communications satellite project in the amount of $ 200 million agreed on January 12, 2006. It was a five-year loan that expired on June 29, 2018. Nigeria has successfully repaid the loan, which carried an interest rate of three percent per annum, leading to the payment of $ 40.02 million as the interest rate.

The second loan was for the Nigerian National Public Security Communication System Project in the amount of $ 399.50 million agreed on December 20, 2010 and disbursed.

The third loan concerned the Nigerian railway modernization project (Wu-Kaduna section) in the amount of $ 500 million agreed on December 20, 2010 and disbursed.

While the fourth loan was for the Abuja tram project with $ 500 million agreed on November 7, 2012 and disbursed, the fifth loan was for the Nigerian ICT infrastructure backbone project with $ 100 million agreed on January 5, 2013 and disbursed.

The sixth loan was for the expansion project of four airport terminals (Abuja, Kano, Lagos and Port Harcourt) with $ 500 million agreed on July 10, 2013, but $ 455.28 million was disbursed, or 91.06 million. % of the agreed amount.

The seventh loan was for the Nigerian Zungeru hydropower project with $ 984.32 million agreed on September 28, 2013, but only $ 518.24 million was disbursed, or 52.65% of the agreed amount.

The eighth loan was for the Nigerian project for 40 parboiled rice processing plants (Federal Ministry of Agriculture and Rural Development), with an amount of $ 325.67 million agreed on April 26, 2016, but nothing was disbursed.

The ninth loan concerned the Nigerian railway modernization project (Lagos – Ibadan section), with $ 1.27 billion agreed on August 18, 2017, but only $ 759.84 million was disbursed, or 17.50% of the agreed amount.

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‘I needed to be challenged’ – How the Manchester United starlet was transformed by a loan https://albaruthenicae.info/i-needed-to-be-challenged-how-the-manchester-united-starlet-was-transformed-by-a-loan/ Sat, 18 Dec 2021 05:00:00 +0000 https://albaruthenicae.info/i-needed-to-be-challenged-how-the-manchester-united-starlet-was-transformed-by-a-loan/ Playing for Manchester United at youth level is the dream of any young player who grows up with the dream of someday succeeding in the world of professional football. Right now, United’s senior squad are teeming with talent that has been nurtured into the club’s illustrious academy system, and last week Charlie Savage and Zidane […]]]>

Playing for Manchester United at youth level is the dream of any young player who grows up with the dream of someday succeeding in the world of professional football.

Right now, United’s senior squad are teeming with talent that has been nurtured into the club’s illustrious academy system, and last week Charlie Savage and Zidane Iqbal became the 245th and 246th graduates of the club. academy to reach the first team, entering as substitutes against Young Garçons.

Their first glimpse into senior football might be the start of something special at Old Trafford, but the harsh reality is that even after representing the first team very few prospects manage to make them a permanent promotion at such a young age. .

It’s a feeling young defender Di’Shon Bernard knows well.

He made his debut two years ago in the same vein as Savage and Iqbal, as part of a makeshift squad that faced Kazakhstan’s Astana side in a Europa League draw when qualifying was obtained.

Bernard, 21, scored an unfortunate own-side goal on that arctic night at Nur-Sultan, but it was an important part of the journey which now sees him playing regular football in the league at such a tender age.

The United youngster was first impressed with a one-season loan with Salford a year ago, where he played 29 times for the League Two side, before returning for Ole Gunnar Solskjaer’s side in pre-season.

He played in a friendly against championship duo Derby and Queens Park Rangers, signing a new long-term contract before embarking on a second tier loan in the next stage of his career.

“It was a good time for me personally,” he told MEN Sport in an exclusive interview. “It’s a good step for me.

“The quality has definitely improved. There is a lot more football on the pitch which has been good, but you just know you have to be on at all times. A mistake can end in a goal. Some have good quality players here, some have been in the Prem so you always have to be turned on and focused because you can get punished.



DiShon Bernard in action for Hull City earlier this season

“From a competition point of view, everyone, Ligue 2, the championship, everyone is working hard to win. So the competition has remained the same, but the quality that you can see is different.”

Two weeks ago he faced arguably his toughest test yet when he faced Andy Carroll, who is now at Reading.

Bernard impressed again as his side fought back to earn a decent away point, in a six-game unbeaten streak with the young defender still having to pinch himself as he faced off against football stars that ‘he used to watch TV at home.

“You can see they played at the top level,” he said of Carroll. “Just their quality and movement is something you really watch. I feel like I played well against them; I feel like I left my mark on them and challenged them really well.”

As with any young loaner, Bernard is in regular contact with United’s loan staff, who give him regular feedback on his performance and add his own suggestions he can focus on.

The former Chelsea youngster is also helped by two close friends Teden Mengi and James Garner, who embarked on championship loans themselves last season and offered invaluable advice on what to expect in second division.

“Me and Teden are still talking,” he said. “Obviously there was also Jim (James Garner) in the championship last season, so we’re still talking. Always ask questions about how they find him. They gave me their advice on that, and that helped. been a big help getting into this season. “

With Mengi back in the ranks of young United ahead of a loan in the January window, Garner is on the rise in his second season at Nottingham Forest. This weekend, he will face Bernard as Hull visits the City Ground on Saturday afternoon.

“I already told him to watch over me!” Obviously, when we step on the field, we are no longer friends, as I already told him, so it’s going to be a good challenge.

Garner and Bernard have spent the past five years playing together at a youth level since the latter left Chelsea, and this weekend the young defender is hoping to surprise his friend by showing how much he’s learned in senior football .



Manchester United U23’s Di’shon Bernard, Teden Mengi and Ethan Laird

“I think vocally I definitely improved,” he said. “My positioning and passing range has improved as well. It’s something that I got in and the coaching staff worked with me. I’m just trying to improve day by day. There is definitely a lot. room for improvement, and hopefully this season I can work on those things. “

If he hadn’t been on loan, Bernard might have played for United last week in that Young Boys game, but he has made it clear this summer that he wants another spell from the club as he seeks to break out of the youth football security bubble.

“Obviously when you hit the Under-23s and start playing every week you realize that doesn’t test you anymore,” admitted Bernard. “You have to be challenged. The loan system has always been something that has fascinated me.

“I know everyone’s development is different. Not everyone can get into the first team, so you have to go on loan and really learn your trade. That’s what I tried to do.

“It’s a great way to develop, to have a bunch of league games under your belt. So it’s something that interests me and I encourage a lot of young players to do the same.”

With 47 Football League appearances to his name, Bernard is the perfect example of how a wise loan can help accelerate a career.

Despite his young age, he shows great maturity in the way he approaches his development and he believes that there are other young people who could benefit from following in his footsteps.

“I think sometimes when you’re young you can be a little naive and you’re like, ‘I don’t want to be loaned to a lower league club’ because you grow up with a little big club ego. ‘ , he said. “But you have to realize that every path is different. Sometimes you have to do Ligue 2 or Ligue 1 and then come back up again. That’s definitely something that I encourage.

“At the moment it’s the best football I’ve played. I knew when I came in that the league was at a good level. It’s definitely a step I had to take.”

In recent weeks, discussions have circulated regarding a possible international call-up for Bernard, who qualifies to play for Jamaica through his father.

His case is helped by the fact that the island nation is currently managed by former Hull midfielder Theodore Whitmore, although the London-born Bernard insists he is keeping his international options open.

“I’ve said it before, I’m open to playing for Jamaica, open to playing for England,” he insisted. “Every time they call, I’m ready.”

While the long-term dream might be international involvement, at the moment Bernard is only focused on keeping Hull in the championship. A victory this weekend over his close friend Garner would be a big step in the right direction.

He concluded: “My goal? Just to improve and keep playing. As a central defender you need a lot of games under your belt to reach the top level. It all comes with experience. The more I play. more games, the more experience I get. The goal is definitely to play a lot of games and keep learning from each other. “

Two years after his only senior appearance at United, it’s safe to say that Bernard is on track to add to it in the future.


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Philippines secures $ 250 million ADB loan for COVID-19 vaccines https://albaruthenicae.info/philippines-secures-250-million-adb-loan-for-covid-19-vaccines/ Mon, 13 Dec 2021 07:17:00 +0000 https://albaruthenicae.info/philippines-secures-250-million-adb-loan-for-covid-19-vaccines/ MANILA, Dec. 13 (Reuters) – The Asian Development Bank (AfDB) has approved a $ 250 million loan to the Philippines for the purchase of COVID-19 vaccines, it said in a statement on Monday. The AfDB said the loan would allow the government to purchase an additional 40 million doses of COVID-19 vaccine for eligible children […]]]>

MANILA, Dec. 13 (Reuters) – The Asian Development Bank (AfDB) has approved a $ 250 million loan to the Philippines for the purchase of COVID-19 vaccines, it said in a statement on Monday.

The AfDB said the loan would allow the government to purchase an additional 40 million doses of COVID-19 vaccine for eligible children and boosters for adults.

The Philippines aims to fully immunize at least 54 million people, or nearly half of its 110 million people, by the end of the year.

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To achieve this goal, he plans to organize a second three-day mass vaccination campaign from December 15. It has so far fully immunized 39.2 million people as of December 7.

New daily cases in the Philippines have remained below 1,000 since November 24, a sharp drop from the peak of over 20,000 at the end of September that put strain on the fragile health system in the Asian archipelago from the South East.

The improving COVID-19 situation in the Philippines has allowed her to gradually reopen the economy and temporarily resume face-to-face classes.

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Reporting by Karen Lema Editing by Ed Davies

Our Standards: Thomson Reuters Trust Principles.


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