€5 billion for clean energy, water and forestry €2.6 billion for corporate innovation and business financing €3.1 billion for health, housing and education €137 million for sustainable transport and better communications The Board of Directors of the European Investment Bank (EIB) today backed €10.8 billion of new financing to support renewable energy, restore degraded forests, build affordable homes, new hospitals and better schools, upgrade water, transport and communications networks, and enable businesses to innovate and create jobs. EIB President Nadia...

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A Schedule of Expenditures of Federal Awards shows federal awards active during an audit period and summarizes expenditures incurred under each federal program. The SEFA — Schedule of Expenditures of Federal Awards — is the key report required for organizations subject to single audits. It indicates what federal awards were in play during an audit period, and summarizes the expenditures incurred under each federal program. The SEFA becomes the crux for determining what major programs your auditors will be testing, and...

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Tradewind Finance, an international trade finance company, today announced that it has closed a USD 17 million credit facility for a best-selling consumer product manufacturer offering at-home sporting equipment. The USA-headquartered equipment brand makes a variety of strength training products including kettle bells, dumb bells, chin-up bars, and more that it sells directly to consumers, Amazon, and to other e-tailers around the world. The sporting goods brand is utilizing the facility to unlock cash flow for its expanding international...

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In this week’s Roar: an early holiday for shippers, U.S. imports up, an embargo in Canada, port strikes and air freight, and a perspective on digital transformation. U.S. retailers are stepping up holiday imports due to fears of potential strikes at ports and continuing disruptions on the Red Sea. This led to more than usual container imports in July, mostly fed by precautionary measures instead of consumer demand — which is restrained by inflation and high interest rates. If a strike...

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In this edition of the Neural Network, we look at key AI developments from July and August 2024. In regulatory updates, the EU AI Office launched a consultation on trustworthy general-purpose AI models, the European Commission published updates to its AI Act Q&A page, and the European Data Protection Board adopted a statement on data protection authorities' role in the AI Act framework. In AI enforcement and litigation news, the US Federal Trade Commission, US Department of Justice, the UK Competition and...

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The sums required to meet global challenges like mitigating climate change and strengthening financial-market stability far exceed available public funding. Attracting voluntary private investment, however, will require the development of a menu of innovative financial instruments. WASHINGTON, DC – No one doubts that many of the world’s biggest challenges – such as mitigating climate change, strengthening financial-market stability, and boosting economic growth in developing and emerging economies – are deeply intertwined. Multilateral cooperation will thus lead to better outcomes than...

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By Ian Hunter | Approaching its second anniversary, the Inflation Reduction Act (IRA) has emerged as a surprising boon for red states, driving a surge of green energy investments into traditionally conservative regions. In just two years, the Inflation Reduction Act has channeled over $50 billion into red states, revolutionizing local economies. This transformative legislation has not only reshaped the clean energy landscape but also sparked a wave of foreign direct investment (FDI), revitalizing local economies across the United States. ...

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In July 2021, the European Commission introduced a package of legislative proposals aimed at combating money laundering. These proposals signalled a significant expansion of transparency obligations related to Know Your Customer processes (KYC-processes) and national transparency registers (see our article from 26 July 2021). Since, an agreement on an EU anti-money laundering package has been reached. This new EU anti-money laundering package includes a series of measures by the EU legislature to harmonise anti-money laundering and counter-terrorism financing laws across...

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The EU Data Act (the "Act"), which entered into force on 11 January 2024, is a comprehensive piece of legislation aimed at fostering a fair and competitive digital environment in the European Union. It focuses on ensuring that data is shared more effectively, while protecting the rights of individuals and businesses. Here's an overview of what the Act entails:   Purpose and scope Application The first part of the Act is designed to regulate access to and use of data generated by connected...

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