The Asian Development Bank’s (ADB) Board of Directors has approved debt financing and partial risk guarantees totaling $583 million to develop the Reliance Bangladesh Liquified Natural Gas (LNG) and Power Project.
The project, which includes a power generation facility to be located in Meghnaghat, near the capital city of Dhaka, and an LNG Terminal, near Kutubdia Island south of Chittagong, will significantly increase power generation and improve energy infrastructure in Bangladesh.
ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion.
“ADB’s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country’s economic growth,” said Michael Barrow, Director General of ADB’s Private Sector Operations Department. “ADB’s role as a direct lender and guarantee provider will enable Reliance Power to mobilize much needed long-term debt financing and help attract new lenders to Bangladesh.”
Diversifying Bangladesh’s sources of energy is critical for the country as demands for natural gas have placed significant pressures on the country’s domestic gas reserves. New LNG import facilities will enable the country’s existing gas-dependent infrastructure to remain viable while opening the country to access natural gas from global markets.
ADB’s support will help Reliance Power Limited to develop an initial approximately 750 megawatts (MW) of gross power generation capacity and terminal facilities for LNG import. Reliance Power plans to increase its power generation capacity to around 3,000 MW in Bangladesh. Energy from the power plant will be sold into the country’s electricity grid under a long-term power purchase agreement with the Bangladesh Power Development Board.
“Reliance Power has achieved a major and important milestone of approval of financing for its landmark project in Bangladesh. This is an important step in helping Bangladesh achieve energy security,” said Venugopala Rao, CEO of Reliance Power. “ADB’s leadership in financing will help us to develop this clean and reliable LNG-based power project in Bangladesh.”
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.
Reliance Power Limited, a part of the Reliance Group, is India’s leading private sector power generation company. The company has the largest portfolio of power projects in the Indian private sector, based on coal, gas, hydro, and renewable energy, with an operating capacity of 5,945 MW.
‘Global learning crisis’ continues says Guterres; millions still hit
Almost two years into the COVID-19 pandemic, school closures continue to disrupt the lives of over 31 million students, exacerbating what the United Nations’ Secretary General called “a global learning crisis.”
“Unless we take action, the share of children leaving school in developing countries who are unable to read could increase from 53 to 70 per cent”, António Guterres warned in a video message marking the International Day of Education, on Monday.
The UN chief remembered the “chaos” that COVID-19 caused in education worldwide, noting that, at the pandemic’s peak, some 1.6 billion school and college students had their studies interrupted.
Despite the improvement, he believes the crisis is “not over yet”, and the turmoil goes beyond questions of access and inequality.
The theme for the day this year, is “Changing course, transforming education”.
For Mr. Guterres, the world is “changing at a dizzying pace, with technological innovation, unprecedented changes in the world of work, the onset of the climate emergency, and a widespread loss of trust between people and institutions.”
In this scenario, he believes conventional education systems are “struggling” to deliver the knowledge, skills and values needed to create a greener, better and safer future for all.
Because of these challenges, he is convening a Summit on Transforming Education in September.
“The time has come to reignite our collective commitment to education”, he said.
For him, that means “putting education at the heart of broader recovery efforts, aimed at transforming economies and societies and accelerating progress on sustainable development.”
It also means financial solidarity with developing countries and understanding how national education systems can be reformed, between now and 2030.
Mr. Guterres noted the Summit will be the first time that world leaders, young people and all education stakeholders come together to consider these fundamental questions.
Assembly, Abdulla Shahid, also stressed the need to reflect on the impact of two years of the COVID-19 pandemic.
Highlighting the challenges created for the empowerment of children and youth, Mr. Shahid mentioned a UN joint publication showing that students worldwide could lose a total of $17 trillion in lifetime earnings as a result of these constraints.
For him, this number is a call to close the digital divide, to empower girls and boys, in particular those in rural and isolated areas, and to strengthen support for persons living with disabilities, as well as other vulnerable groups.
“In a world of increasing complexity, uncertainty, and precarity, knowledge, education and learning need to be reimagined”, he argued.
Mr. Shahid also believes the world needs “an education system that could leverage humanity’s collective intelligence.”
“A system that advances, rather than subverts, our aspirations for inclusive education based on the principles of justice, equity and respect for human rights”, he concluded.
According to new data released by the UN Educational, Scientific and Cultural Organization (UNESCO) on Monday, schools are currently open in 135 countries, and in 25 nations, it has been temporarily suspended by extending the end-of-year break.
Only a dozen countries have opted to close schools and pivot to fully remote rather than in-person learning since the outbreak of the Omicron variant.
This is in stark contrast with the same period last year when most schools were closed, and learning was fully remote in 40 countries.
For the UN agency, this shows that a large majority of countries are using lessons from the past two years to keep classrooms accessible, with reinforced health and safety protocols.
“Education continues to be deeply disrupted by the pandemic, but all countries are now keenly aware of the dramatic costs of keeping schools closed as UNESCO said for the past two years”, said the agency’s Director-General, Audrey Azoulay.
A dozen countries surveyed – including Brazil, France, Kazakhstan, Mexico, Palestine and Ukraine – now use traffic light monitoring systems that trigger different measures according to levels of infection: mask wearing, hand washing, ventilation, but also indoor and outdoor distancing, and class closures on a case-by-case basis to avoid impacting all students.
Other countries, including Canada, France, United Kingdom and Italy, are also using mass rapid test-to-stay policies.
Once again, UNESCO called for more efforts to vaccinate educators, noting teachers were not included in any priority group in up to a third of countries.
For the UNESCO chief, more action is needed to bring back to school all the children who have moved away from it and to recover learning losses.
“Without remedial action and focus on the most vulnerable students, the COVID-19 pandemic will carry dramatic long-term consequences”, Ms. Azoulay warned.
In fact, more than 50 per cent of teachers state that students had not progressed to the levels expected, according to a large-scale survey conducted by UNESCO and the International Association for the Evaluation of Educational Achievement.
In the study, conducted in 11 countries, most teachers agreed that it was difficult to provide necessary support for vulnerable students. And over 50 per cent of students said they were anxious about the changes taking place.
How Twitter can help your business
Twitter is easily one of the leading online platforms which encourages networking on a global scale. The number of users, more than 300 million, is staggering and this is not through sheer luck on their part. The virtual destination provides many advantages including a delectable smorgasbord of ideas for your business. Avoid it at your peril. Here, you can in very little time, easily and cost-effectively develop your brand, its awareness, relationships with customers, past, present, and future, especially if you decide to buy real Twitter followers. A tweet is a post, Twitter style. It will include content, copy and visuals are possible, which captivate your followers. Playstation, Starbucks, and Chanel are among the most popular brands, with a combined following of 42 million people. Brainstorm these ideas as relates to your business and upon implementation, you’ll enjoy their effects.
1. Brand Story
The story about your multi-faceted business should be diligently threaded across your content calendar. Whether your business is complex in its offering or not, your tweets must be diverse in their topic. Impress with accolades received, ooze humility sincerely with a question about a product color you’re grappling with, showcase team member achievements, or the fun on offer at the trade expo you’re attending. Your followers will be converted to loyal and long-term customers if you bear all, professionally.
2. Generate Traffic
Social media content calendars often include a call to action, usefully encouraging a specific activity and how and where to do so, which very often will direct the individual to your website, blog, or perhaps an insightful video. Twitter generates traffic to your other important locales, which is one or more steps closer to a purchasing decision. This is what you want and lots of it!
3. Tweet from Anywhere
If your launch strategy includes activity on Twitter next Wednesday, while you’ll be basking in the sun on a beach in the Mediterranean, finally enjoying a long overdue vacation, execute it from your lounger, on your mobile device. You don’t need your larger devices to navigate Twitter and enjoy success. The ease with which you can communicate with followers easily categorizes this platform as one of enormous convenience.
4. Massive Reach
You have never had this number of people quite literally at your fingertips. Be crystal clear about who your target audience is. That your offering has a 250km radius limitation, is crucial information. If you have a limited quantity of an item, your content must reference this. You do not want to disappoint someone continents away, who thinks that what you offer is theirs for the taking when that is not the case. You have an opportunity for massive reach. Plan well and your bottom line will impress all stakeholders.
5. Research Competitors
Know what your competitors are doing. Follow their Twitter profiles and make note of what type of content tends to elicit the greatest level of engagement, good or bad. Follow some of their more active followers, which may lead you to more like-minded prospects. Keep a close eye on their influencer activity. All this research will provide a useful understanding and may inform some of your future choices. However, Twitter has over 350 million monthly users, so avoid focusing your efforts on trying to out-perform them. Focus instead on doing what you do, to a level of excellence and soon enough, your competitors will be following your lead.
Twitter must be included in your comprehensive marketing campaign. Its statistics are indicative of an organization that understands very well what it can do for you and it supports your success, with continual enhancements, all of which will continue to generate traffic, conveniently.
Maintenance Tips for Second-Hand Cars
With a shortage of semiconductors continuing to plague the automotive industry, many are instead turning to the second-hand market to source a bargain on their next car purchase – resulting in a boom in second-hand car sales. Second-hand cars, while cheaper to purchase initially, can present problems quicker without proper maintenance. Here are some simple ways to maintain your second-hand vehicle.
Read the Manual and Service History
The first thing you should endeavour to do with any second-hand car purchase is to scrutinise your car’s service history book and user manual. The former will give you crucial information on prior issues that have cropped up with the car, either giving you an idea of what may fail next or what not to worry about, while the latter gives you important details regarding points of maintenance on your car: where your oil pan is, where the safe anchor points for trolley jacks are, and the location of various parts of the engine.
Keep Your Oil Fresh
One key way you can ensure the longevity of your second hand vehicle’s engine is to learn how to replace its engine oil, and to replace its engine oil regularly. The oil cleans and lubricates the engine, preventing debris from clogging moving parts and causing wear. Over time, the oil becomes dirty with this debris, and can eventually pose a threat to the engine’s safe running itself. New oil ensures the engine stays clean, and keeps it running for longer.
Keep a Regular Service Schedule
As with any vehicle, taking your second-hand car in for regular appointments with a mechanic can keep on top of potential problems before they cause more issues; booking a car service online makes managing your car’s service schedule easy, and can make sure that your car remains healthy and well-maintained thanks to regular check-ups via a professional pair of eyes. Regular servicing can also reduce the potential incurred costs from failed MOTs.
Clean Your Interior
Keeping your car’s interior clean might seem like a relatively insignificant task with regard to your car’s overall maintenance, however taking car of the surfaces and fabrics in your car can increase their lifespan, reducing the need for potential re-upholstery and preserving your personal comfort while driving. Regularly vacuuming footwell mats and seat cushions can stave off wear and tear, while regularly cleaning and polishing trim can preserve their condition.
Lastly, but by no means least, your driving habits can have a profound effect on the life span of your vehicle. Those who drive fast and brake hard are sure to encounter more issues quicker than those who adopt safe driving techniques and approach the road with a sense of calm. Simple things like coasting into corners and accelerating at a steady pace can ensure your brakes, suspension and engine live their longest possible life, giving you a great run with your new second-hand vehicle.
Economic Activity in Myanmar to Remain at Low Levels, with the Overall Outlook Bleak
Myanmar’s economy and people continue to be severely tested by the ongoing impacts of the military coup and the surge...
Libya’s Energy Puzzle: Every Challenge is an Opportunity
Libya’s energy sector remains divided between two authorities, the National Oil Corporation (NOC) and the Petroleum Facilities Guard, and three...
Ukraine Lies About 2022 Russian Attack to Hide Dying Economy
Yesterday, Ukraine’s president Zelensky speaking to the Ukrainian Foreign Intelligence Service said “We have learned to contain external threats. It...
Structural Reforms Needed to Put Tunisia on Path to Sustainable Growth
Decisive structural reforms and an improved business climate are essential to put Tunisia’s economy on a more sustainable path, create...
‘Global learning crisis’ continues says Guterres; millions still hit
Almost two years into the COVID-19 pandemic, school closures continue to disrupt the lives of over 31 million students, exacerbating what...
Ukraine crisis could produce an unexpected winner: Iran
Iran potentially could emerge as an unintended winner in the escalating crisis over Ukraine. That is, if Russian troops cross...
How Twitter can help your business
Twitter is easily one of the leading online platforms which encourages networking on a global scale. The number of users,...
Africa Today4 days ago
South Africa’s Covid-19 Response Gets a $750 Million Boost
Green Planet4 days ago
Introducing India’s first ever diving grant
Africa4 days ago
West Africa: Extreme poverty rises nearly 3 per cent due to COVID-19
New Social Compact3 days ago
Delivering on Our Promise for Universal Education
Europe4 days ago
Tactical Retreat: Madrid Makes Concessions to Catalonia and the Basque Country
Human Rights4 days ago
Urgent action needed to protect Vietnamese workers trafficked to Serbia
International Law2 days ago
Psychology of Political Power : Does Power Corrupt or is Magnetic to the Most Corruptible?
Middle East3 days ago
“Kurdish Spring”: drawing to a close?