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African Development Bank approves $18.8 million grant to boost rice production – Ghana

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African Development Bank approves $18.8 million grant to boost rice production – Ghana

AFRICA – The board of directors of the African Development Bank Group has approved a grant of $18.8 million to the government of Ghana for the implementation of the Regional West Africa Resilient Rice Value Chains (REWARD) Project.

The project aims to boost domestic rice production, strengthen food security, and create jobs across the agricultural value chain. It will support efforts to increase rice productivity, improve market systems, and reduce Ghana’s dependence on rice imports, while enhancing the competitiveness of locally produced rice.

Agriculture remains central to Ghana’s economy, supporting livelihoods and contributing significantly to food security. However, domestic rice production has not kept pace with rising demand, leaving the country to rely on imports and exposed to global price volatility.

The REWARD project seeks to address these challenges through investments in climate-resilient rice production systems, improved access to quality inputs and mechanization, and enhanced irrigation and land development in key production areas.

The initiative will also support the modernisation of rice processing facilities, strengthen market linkages, and promote greater private sector participation across the rice value chain.

Implementation will focus on selected districts within Ghana’s Northern Savannah Ecological Zone, an area with significant agricultural potential where productivity remains constrained by climate risks, inadequate infrastructure, and weak market integration.

“This project will help strengthen Ghana’s rice value chain by increasing productivity, improving market access, and supporting agribusiness development,” said Halima Hashi country manager, Ghana Country Office, African Development Bank Group. “By investing in climate-resilient agriculture, the initiative will contribute to food security, job creation, and more inclusive economic growth.”

The REWARD project aligns with Ghana’s national development priorities, including its agricultural transformation and food security agenda under the Feed Ghana Programme. It also supports the African Development Bank’s strategic priorities of climate-resilient agriculture, private sector development, and inclusive growth, while contributing to broader regional efforts to strengthen food systems and resilience across West Africa.

President-elect Keiko Fujimori, CAF and CEAPI reaffirm their commitment to Peru

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President-elect Keiko Fujimori, CAF and CEAPI reaffirm their commitment to Peru

CARACAS, Venezuela – CEO of CAF – Development Bank of Latin America and the Caribbean – Sergio Díaz-Granados, and the president of the Business Council Alliance for Ibero-America (CEAPI), Nuria Vilanova, met with the president-elect of Peru, Keiko Fujimori, to reaffirm the support of both institutions for the country and lay the foundations for close cooperation with the new government.

In an open dialogue, the main opportunities to revitalise a development agenda that fosters sustainable growth, competitiveness, institutional strengthening and regional integration were explored.

“ Peru is about to begin a new chapter. Peruvians have made it very clear that they want a functioning state, an economy that will grow again, and a government that will generate stability and opportunities. That will be the commitment of our administration. We want to build a Peru that is safe to live in, attractive to invest in, and reliable for doing business,” the Peruvian president stated.

Along those lines, he emphasised three principles that will guide his government. The first focuses on absolute respect for the rule of law; the second, on macroeconomic stability; and the third relates to a firm commitment to private investment as an engine of growth and job creation.

The Peruvian president also expressed his commitment to restoring order and public safety, stating that all the State’s capabilities would be used to ensure that Peru would once again be a safe country for its citizens and for those who invest in it. He added that from the beginning of his term, Peru will begin to responsibly prepare to face the El Niño phenomenon.

“Our initial focus will be preventative; we will invest before the emergency to avoid human and economic losses. We will carry out river dredging projects, ravine protection, identification of critical points, and maintenance of pedestrian infrastructure,” he stated.

Sergio Díaz-Granados reiterated CAF’s full commitment to continue supporting Peru in the implementation of projects and initiatives aimed at improving the quality of life for Peruvians. “CAF maintains a historical relationship with Peru, spanning more than five decades, and we will continue to support the country in projects and initiatives that improve the quality of life for all Peruvians. Our commitment to the country’s sustainable and inclusive development is stronger than ever.”

For her part, CEAPI President Núria Vilanova expressed her appreciation to president-elect Keiko Fujimori for “her intelligence, determination, commitment, and generosity.” She also emphasised that “to transform a country, it is necessary to know and love it,” and affirmed her confidence in the new president’s ability to lead a period of reconciliation and development for Peru, based on “healing wounds, not responding to provocations, and working for a better country.”

Vilanova also reaffirmed CEAPI’s commitment to continue promoting the participation of Ibero-American businesses in the country’s development. “We will work to mobilise Ibero-American businesspeople, strengthen their confidence in Peru, and promote new investments that contribute to its growth,” he stated.

CAF maintains a strong cooperative relationship with Peru and has supported the country for over five decades by financing strategic projects in infrastructure, social development, regional integration, energy transition, institutional strengthening, and the promotion of the productive sector. This meeting reaffirms the commitment to continue working together to promote sustainable development.

IOM warns trafficking victims are being forced into scam networks

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IOM warns trafficking victims are being forced into scam networks

GENEVA, Switzerland – Hundreds of thousands of people worldwide have been trafficked by criminal networks and forced to participate in online scams in a multibillion-dollar criminal industry, the International Organization for Migration (IOM) warns today, in advance of 30 July which marks World Day Against Trafficking in Persons under the theme “Trapped Behind the Scam.”

Trafficked victims are often lured by fake job ads promising legitimate work abroad. Once they arrive, many are locked inside compounds, stripped of their documents, subjected to constant surveillance, and forced through violence, threats and debt bondage to carry out online scam operations targeting people worldwide. Survivors report enduring torture, sexual abuse, starvation and solitary confinement.

“People trapped in scam compounds are victims of trafficking, forced to commit crimes through violence, threats and coercion. They deserve protection, not punishment,” said IOM Director General Amy Pope. “We must work together to support survivors, stop traffickers and close the gaps these criminal networks exploit. No country can tackle this alone.”

The scale of the crime is staggering. New United Nations Office on Drugs and Crime (UNODC) data estimates combined annual losses from scam offences across East Asia, South-East Asia, Australia, and New Zealand are between USD 88.3 billion and USD 114.1 billion for 2025 alone, much of it tied to organised crime, and scam compounds across the region are believed to hold hundreds of thousands of trafficked workers.

As trafficking in persons for forced criminality continues to expand across Asia and increasingly beyond the region, IOM has launched its new Regional Strategy Response to Trafficking in Persons for Forced Criminality in Asia and the Pacific (2026–2030). The strategy outlines IOM’s vision for addressing one of the fastest-growing forms of human trafficking, with a strong focus on victim protection, prevention, cross-border cooperation and stronger partnerships to disrupt trafficking networks.

Between 2022 and 2025, IOM assisted more than 3,500 victims of trafficking for forced criminality across South-East Asia, from 39 countries, with the largest numbers originating from Indonesia, India, Sri Lanka, Ethiopia, Kenya, and Bangladesh.

The message at the heart of this year’s campaign is clear: people forced to commit crimes inside scam centres are victims of trafficking, not criminals, and should be protected, not punished.

Rescue is only the first step. Survivors often face severe trauma, stigma, debt, missing identity documents and the fear of prosecution, requiring sustained support to return home safely and rebuild their lives. IOM’s response includes identifying victims, referring them to protection services, providing direct assistance, coordinating with consular authorities, supporting safe return and reintegration, and working with governments and law enforcement partners to strengthen victim identification, cross-border cooperation and accountability for traffickers.

To strengthen its response, IOM calls for continued support to assist victims of trafficking through protection, safe return and reintegration, while scaling up efforts to raise awareness of traffickers’ tactics so that people can recognise risks and know where to seek help.

Barbados is building the education system its children deserve: Here’s how it can make every Barbadian dollar count

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Barbados is building the education system its children deserve: Here’s how it can make every Barbadian dollar count

By Victoria Levin, Astrid Camille Pineda and Lauren Marston

Walk into a primary school classroom in Barbados, and you see all the right elements: eager and curious kids, dedicated teachers, and a culture that truly values education. Visit a place like the Oceana Innovation Hub, and you are wowed by the innovative use of eco-friendly features that come together to create a learning environment supporting young people with high aspirations and potential.

This reality reflects a genuine and sustained commitment by the government of Barbados to building human capital. The country allocates nearly 5 percent of GDP to education—a level comparable to high-income countries and well above the Latin America and Caribbean average. Even more importantly, education expenditures have been protected during crises, including episodes of fiscal austerity and the COVID-19 pandemic.

The dedication and ambition of Barbados to investing in education is not in doubt. But the relevant question is whether Barbados is getting the outcomes for which it is paying. The honest answer is that there is meaningful room for improvement. More than a third of primary school students are not performing at an acceptable level in mathematics. Six in ten secondary school students leave without passing the high-stakes exams that enable them to continue their education and signal academic competence to employers. And despite years of sustained spending, Barbados has one of the lowest shares of skilled workers in the Caribbean.

Where the gaps are—and why they matter

A new World Bank report, Navigating Change: Review of Education Expenditure and Resilience in Barbados, examines how education resources are allocated and used across the system. The findings point to a set of structural misalignments that are limiting the impact of public investment.

Over the past decade, student numbers declined due to falling birth rates while teacher headcounts increased, resulting in smaller classes. In theory, smaller classes support better learning, but translating this into actual gains requires accompanying improvements in how instruction is delivered. High-stakes secondary entrance exams tend to focus instructional attention on higher-performing students, leaving less space for children who need more individualised support.

Grade repetition—costing an estimated BDS$19 million per year, mostly from students repeating their final year of secondary school—delivers limited learning gains compared to earlier, targeted intervention.

Equity gaps are also widening at both ends of the system. Preprimary education remains out of reach for many three-year-olds from lower-income households, while tertiary scholarships intended to broaden access disproportionately benefit students from better-off families. Meanwhile, capital investment in preprimary and primary education—the stages where foundational literacy and numeracy are built—is relatively low, meaning teachers and students often navigate outdated facilities with subpar conditions. This imbalance compounds over time, particularly in a country as exposed to climate-related hazards as Barbados.

A path forward

The report sets out five strategic priorities to address these challenges: (i) closing foundational learning gaps—especially in numeracy—through early diagnostics and targeted remediation; (ii) empowering teachers via robust professional development and a comprehensive national teacher policy; (iii) expanding early childhood education by repurposing underused primary classrooms for play-based learning; (iv) reducing costly grade repetition through early interventions alongside support programs like school feeding and textbooks; and (v) improving learning environments by modernizing physical and digital infrastructure while enhancing climate resilience.

From Good to BEST

These findings formed the foundation for the World Bank’s engagement with the Government of Barbados and directly shaped the design of the Barbados Education Sector Transformation (BEST) Operation—a USD 50 million IBRD loan launched in May 2026 in Bridgetown with the Minister of Education Transformation, the Honourable Chad Blackman. The Operation targets the two areas where change is most needed: strengthening foundational learning and making primary school infrastructure fit for purpose.

The resources are there—and so is the political will. What the BEST Operation brings is a sharper focus: reaching children earlier, equipping teachers with better diagnostic tools, and building schools to be resilient enough for a changing climate and a changing world. The foundation is solid.

The imperative now is to realise prime minister Mottley’s vision that “every Barbadian is provided with the tools to not only participate in the global economy and human civilisation, but to lead it.”

Venezuela Telecom Watchdog meets with SpaceX to greenlight Starlink service

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Venezuela Telecom Watchdog meets with SpaceX to greenlight Starlink service
    • Despite prior clashes between President Maduro and Elon Musk, the acting Rodríguez government has approved Starlink operations in the country.

By Silvana Solano Rodríguez

MERIDA, Mexico, (venezuelanalysis.com) – Venezuela’s National Telecommunications Commission (CONATEL) held a formal working session with SpaceX executives to establish the legal, technical, and financial parameters for the regularized rollout of Starlink’s satellite internet services nationwide.

CONATEL director-general Enrique Quintana led the bilateral meeting with representatives from the Elon Musk-owned company: Emmanuel Cárdenas, SpaceX’s director of legal and regulatory affairs for Latin America; Catalina Castellanos, regional telecom legal advisor; and Rebecca Hunter, director of Market Access.

During the sessions, the regulatory body requested that SpaceX initiate the formal homologation process for its satellite hardware via CONATEL’s digital platform. This step assures that user terminals and ground equipment comply with national standards for data security, spectrum allocation, and operational quality. The talks also focused on data transport infrastructure and the formal authorization for radio frequency bands required under Venezuela’s Organic Telecommunications Law.

SpaceX’s delegation reportedly expressed full willingness to align the company’s legal and corporate status with Venezuela’s regulatory requirements. Quintana, on behalf of acting president Delcy Rodríguez, highlighted the importance of the working group to promote telecommunications throughout the country.

While imported Starlink receiver dishes have already been circulating among private buyers for years, the satellite service officially made its signal available across Venezuelan territory following the January 3 US strikes on Venezuela and the kidnapping of president Nicolás Maduro. At the time, SpaceX offered a free promotional connectivity window for both newly registered local users and existing international roaming hardware.

CONATEL’s engagement accelerated following the June 24 double earthquake, which damaged communications infrastructure in central coastal regions. To assist with emergency management and humanitarian relief, CONATEL granted SpaceX a temporary pilot authorisation.

This operational exemption allowed civil protection and disaster relief teams to deploy Starlink terminals in hard-hit areas, notably across La Guaira state, where damaged fibre-optic networks had disrupted local communications.

Acting president Rodríguez thanked Musk and his team via social media.

“Thank you, Elon Musk and the Starlink team, for helping those affected by the earthquakes in Venezuela with free internet access. Every connection counts in times like these,” she wrote at the time.

In addition, CONATEL highlighted that expanding satellite internet options complements existing state-owned and private telecommunications providers, offering critical redundancy during natural disasters or power disruptions.

The institutional dialogue between state regulators and SpaceX unfolds a political history, following clashes between president Nicolás Maduro and company CEO Elon Musk.

Tensions peaked in August 2024 following Venezuela’s presidential election, when Musk used his social media platform X to launch verbal attacks against the Venezuelan government, accusing Maduro of electoral fraud and calling for foreign intervention.

In response, Maduro denounced the tech billionaire for using his digital platform to incite hatred, destabilisation, and political violence inside Venezuela. “Out of Venezuela, Elon Musk!” he said in a public rally.

CONATEL initially enacted a 10-day suspension of X in the Caribbean nation, which was later extended. In recent weeks, Venezuelan telecom and mobile service providers have unblocked access, though CONATEL has not formally announced the reinstatement of the social media platform.

Musk has drawn scrutiny across Latin America and internationally for his open alignment with far-right political figures and reactionary causes.

The outspoken billionaire has frequently used his global platform to endorse far-right politicians, express support for neoliberal deregulation, and launch hostile commentary directed at progressive and leftist governments.

Starlink has also been embroiled in controversy as a result of Musk’s direct control and political views. The company introduced a “whitelist” to ban access to Russian users in an effort to disrupt communications amid the war in Ukraine. In Gaza, Starlink has operated in integration with Israeli occupation forces, raising concerns of complicity in war crimes.

Why Airlines need a new approach to payment

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Why Airlines need a new approach to payment

By Nick Careen

A passenger selects a flight. The schedule works, the fare is right, they add a bag and choose a seat. But the sale is not complete until the payment works.

That final step needs to be quick, secure, and familiar. If it’s slow, confusing, or does not offer the payment option the customer wants to use, the sale is at risk.

That risk is not theoretical. IATA’s 2025 Global Passenger Survey found that 17 percent of travellers who attempted to purchase an ancillary service—an extra bag, seat assignment, or other upgrade—could not complete their purchase. Why? Because the initial payment attempt failed and no other option was available.

The implication is straightforward: payments can directly affect revenue, as well as how much airlines spend, how quickly they receive their money, and their exposure to fraud or failed transactions. In 2024, IATA and Edgar Dunn & Company estimated that airlines processed approximately USD 977 billion in payments, at a cost of USD 22.2 billion.

At this scale, payment choices need to be managed deliberately. And that starts with recognising that there is no single one-size-fits-all solution. From the customer perspective, an individual traveller might prioritise speed and simplicity of payment. On the other hand, a corporate buyer’s needs include policy compliance, approvals, reconciliation, and reporting.

Meanwhile, airlines cannot view payments solely as a cost. Passengers are using an increasingly diverse range of payment methods. While physical cards still dominate, options such as instant payment and digital wallets are growing rapidly. If an airline does not offer a passenger’s preferred payment method, it risks losing the sale.

This growing choice also creates greater complexity. Without effective payment orchestration, matching the right payment method to each customer, sales channel and transaction, settlement costs and delays can increase. To help airlines manage this complexity, IATA supports the industry through the IATA Financial Gateway (IFG) and IATA Pay.

Pleasing all customer segments while maintaining control over cost, fraud risk, settlement timing, refunds, chargebacks, and cash flow is no small challenge. The answer is often different depending on whether you work in commercial, finance, treasury, distribution, digital, risk, or technology functions.

The Airline payment framework

IATA has developed the new Airline Payment Framework – Management Foundation to help management teams look at payment options. Cost remains an important consideration. But the framework broadens the discussion by helping management teams evaluate what payment options enable, and the trade-offs that come with them.

The framework helps airlines look at payments holistically, enabling airlines to make decisions with the same rigor applied to other strategic areas and to track performance over time. Essentially the framework is a common lens through which commercial, finance, treasury, digital, and technology teams can efficiently evaluate payment options together. This avoids fragmented decisions that may serve one purpose but compromise others.

Adopting this disciplined approach does not require major transformation. The payments framework makes ownership clearer, improves visibility of key issues, and facilitates more structured conversations across the business. Elevating payments strategy to this level of rigorous consideration alone will bring benefits across the business.

Publishing the framework now is timely. As the move toward Modern Airline Retailing accelerates, managing payment effectively will become more important. More dynamic offers, richer service offerings, and more personalised customer journeys will require management teams to make decisions on payment options.

In the world of modern airline retailing, payment is no longer a back-office function. It is a strategic capability that influences whether a sale succeeds, how customers experience the airline, and how effectively revenue is converted into cash.

Airlines that recognise the business impact of these decisions will be positioned strongly to compete and grow in the era of Modern Airline Retailing.

  • Nick Careen, IATA Senior Vice President, Operations, Safety & Security

Accelerating the energy transition in ports

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Accelerating the energy transition in ports
    • UNCTAD is supporting port professionals through new training focused on practical solutions for cleaner and more efficient port operations.

GENEVA, Switzerland – Ports under growing pressure to adapt to the energy transition, as cleaner shipping, new fuels and changing regulations reshape maritime trade.

The maritime sector accounts for about 2 percent of global energy consumption, with almost all ship fuel still coming from fossil sources. Port operations produce a smaller share of emissions but play a critical role in enabling cleaner shipping.

For UN Trade and Development (UNCTAD), the transition is not only an environmental priority. It also brings economic, health and social benefits – helping ports secure a more competitive and sustainable future while strengthening their role as engines of global trade.

Training future-ready port communities

UNCTAD’s TrainForTrade programme has introduced a new online course on Energy Transition in Ports (ETP). The course covers methodologies, technologies, case studies and best practices to help port communities develop lower-emission operations.

The first edition of the ETP course, delivered in Spanish between April and June 2026, brought together 544 participants from 31 countries, with women representing 47 percent of the cohort.

“This training shows that sustainability should not be seen only as an environmental obligation, but as a core element of planning, governance and decision-making in ports,” said Sandra Asanza, a participant from Ecuador.

She said the course helped participants focus on practical steps, from measuring emissions to identifying energy-efficiency opportunities and improving coordination across port communities.

From training to action

UNCTAD will build on the course with a workshop in Argentina in October 2026, where selected participants will present concrete solutions and share best practices for advancing the energy transition in their ports.

The initiative is part of TrainForTrade’s longstanding Port Management Programme, which has trained more than 13,500 port professionals across 183 countries and territories since 1996.

The programme supports port communities in improving efficiency, boosting trade flows, enhancing resilience and advancing sustainable development.

Jamaica urges young farmers to embrace AI and Technology

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Jamaica urges young farmers to embrace AI and Technology

By Vanessa James

KINGSTON, Jamaica, (JIS) – Minister of agriculture, fisheries and mining, Floyd Green is encouraging the youth in agriculture to utilise advancements in technology including artificial intelligence (AI) to be more efficient, productive and get better returns on their investments. The minister noted that while technological advancements do pose threats to certain jobs, food production will always require the human element.

“One of the messages that our youth must understand, as the world advances, as we look at things like artificial intelligence, as we think about the jobs that are under threat, no matter what happens in this world, we will have to eat. Even if you’re writing the programme for AI, you will have to eat. So, AI will never replace our farmers and food production,” the minister said,  speaking at the Jamaica 4-H Clubs Youth In Agriculture Village on Saturday (August 1), during the 72nd staging of the Denbigh Agricultural, Industrial and Food Show in May Pen, Clarendon held under the theme ‘Growing Forward: Cultivating a Path to a Better Jamaica’.

The village serves as a strategic pipeline to guide youth toward profitable agricultural enterprises.

Minister Green emphasised that the ministry is actively working to remove barriers that often prevent young people from getting involved in agriculture. He highlighted the Rural Youth Economic Empowerment Programme (RYEEP) which is an entrepreneurial training platform organised by the Jamaica 4-H Clubs in partnership with Heart/NSTA Trust.

“Why RYEEP is working is because it takes a practical approach. It takes you where you are, it provides you with practical training, and it provides you with grant support so you can expand,” minister Green said.

Additional support provided by the Ministry is reserving land in agro-parks for young people and assisting with land preparation and agricultural inputs.

“Last year, we reserved 25 percent of our land [in agro-parks] for young people. I’m pleased to announce that we have passed that mark and last year, of all the land in the agro-park that we leased, 34 per cent of it went to youth in agriculture,” the minister announced.

A major highlight was the Youth Agritech Challenge, an initiative designed to encourage young Jamaicans to become creators, and not just consumers of agricultural technology.

The competition focused this year on climate-smart and sustainable agriculture, water management and food security. Following presentations to a panel of judges, six finalists were shortlisted to compete for a share of the $1 million cash prize.

Abena Corniffe secured the top spot, taking home $500,000, while the second and third-place winners received $300,000 and $200,000, respectively.

“We’re not trying to get our young people to just be users of the technology that already exists. We want our youth to create fit-for-purpose technology for agriculture in Jamaica. We know we have the capacity here, and we’re going to continue to incentivise our youth to get it done,” minister Green declared.

Touring the Youth in Agriculture Village, minister Green highlighted the collaborative effort of stakeholders including the Jamaica 4-H Clubs, the College of Agriculture, Science and Education (CASE), HEART/NSTA Trust, the Northern Caribbean University (NCU), and Knockalva Polytechnic College.

Oman plans major expansion of certified organic farming to strengthen food security

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Oman plans major expansion of certified organic farming to strengthen food security

OMAN, (TV BRICS) – Organic farmland is set to grow more than tenfold as the Sultanate increases investment in sustainable agriculture and domestic food production

Oman is preparing a major expansion of its certified organic farming sector, with plans to increase cultivated land from 4 hectares to more than 40 hectares as part of wider efforts to strengthen food security and promote sustainable agricultural development, as reported by Al Shabiba, a partner of TV BRICS.

The expansion will significantly increase domestic production of certified organic crops, helping to meet growing consumer demand for high-quality locally produced food while supporting the country’s long-term sustainability objectives.

The farm, currently the only internationally certified organic agricultural operation in Oman, cultivates more than 40 varieties of organic crops. Its produce supplies the hospitality and retail sectors while also reaching consumers through direct sales.

Authorities say the initiative is designed to encourage innovative agricultural projects capable of expanding both domestically and across regional markets. The investment also reflects Oman’s broader strategy to develop resilient food production systems based on sustainable farming practices and higher-value agricultural output.

Increasing organic cultivation is expected to strengthen local food supplies, reduce reliance on imported produce and encourage wider adoption of environmentally responsible farming methods. The project also supports efficient use of natural resources.

As Oman continues to invest in modern agricultural technologies and sustainable production, the planned expansion is expected to reinforce the country’s position as a growing regional hub for certified organic farming and environmentally responsible food production.

Amazon emerges as Brazil’s main hub for strategic mineral mining applications

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Amazon emerges as Brazil’s main hub for strategic mineral mining applications

BRAZIL, (TV BRICS) – New assessment highlights major potential for critical minerals while emphasising sustainable development and environmental governance

Brazil’s Legal Amazon accounts for 48.2 percent of all mining applications related to strategic and critical minerals nationwide, underlining the region’s growing importance for future supplies of resources essential to advanced manufacturing, renewable energy and emerging technologies, per Brasil 247, a partner of TV BRICS.

A new assessment by Brazil’s National Mining Agency identifies the Legal Amazon as one of the country’s most promising regions for the development of critical mineral resources, including copper, nickel, potash, cobalt and rare earth elements. The findings are expected to support the development of a national strategy for critical minerals.

Mining activity in the region is currently dominated by iron ore, bauxite, copper and gold, while production of several high-demand strategic minerals remains at an early stage despite substantial geological potential.

Critical minerals such as cobalt, potash and rare earth elements are increasingly important for the production of batteries, electric vehicles, wind turbines, electronic devices and other technologies supporting the global energy transition.

According to the source, future mineral development should be accompanied by robust environmental governance and transparent planning.

Researchers conclude that expanding geological knowledge, strengthening infrastructure and maintaining high environmental standards could enable the legal Amazon to play an increasingly significant role in global critical mineral supply chains while supporting Brazil’s long-term industrial and energy ambitions.

PM Gaston Browne seeks review of US Visa Restrictions and Visa Bond Measures

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PM Gaston Browne seeks review of US Visa Restrictions and Visa Bond Measures

 

    • Prime Minister Gaston Browne writes to president Trump as Antigua and Barbuda seeks review of US Visa Restrictions and Visa Bond Measures

ANTIGUA / USA – The government of Antigua and Barbuda has initiated two further diplomatic representations to the government of the United States following the publication by the United States Department of State of the Final Rule establishing a permanent Visa Bond Program.

Prime Minister Gaston Browne has written to president Donald J. Trump requesting that he direct a review of the restrictions currently affecting nationals of Antigua and Barbuda under Presidential Proclamation 10998, the related visa measures, and the newly established Visa Bond Program.

At the same time, the Embassy of Antigua and Barbuda in Washington, DC, has submitted a formal Diplomatic Note to the United States Department of State, for the attention of Secretary of State Marco Rubio, requesting an early review of Antigua and Barbuda’s continued inclusion in these measures.

The government’s representations are based upon the Department of State’s own explanation of the objectives of the Visa Bond Program, published in the Final Rule in the Federal Register. In that document, the Department states that the Program is intended as “a tool of diplomacy” to encourage foreign governments to strengthen information sharing, identity verification, screening and vetting, document security, compliance with immigration requirements and related security measures.

The government of Antigua and Barbuda has pointed out that it has responded positively and constructively to each of these objectives.

Among the measures highlighted in the prime minister’s letter and the diplomatic note are:

  • the strengthening by legislation of the residency requirements under Antigua and Barbuda’s Citizenship by Investment Programme;
  • the establishment of biometric cooperation with the United States Department of Homeland Security to enhance identity verification and screening;
  • Antigua and Barbuda’s continuing full cooperation with United States Immigration and Customs Enforcement in accepting promptly the return of its nationals who are lawfully removed from the United States;
  • Antigua and Barbuda’s willingness to cooperate with the United States regarding Third-Country Nationals within the limits of its national capacity.

The government has also reminded the United States that Antigua and Barbuda has historically maintained a visa overstay rate of little more than one per cent, that no citizen of Antigua and Barbuda has sought refugee status in the United States, and that the country remains a stable parliamentary democracy recognised by the World Bank as an upper-middle-income economy.

Prime Minister Browne’s letter also recalls Antigua and Barbuda’s longstanding friendship with the United States and its consistent cooperation in matters of regional security, including the fight against illicit narcotics trafficking and transnational organised crime, intelligence sharing, immigration cooperation and other matters affecting the security interests of both countries.

The prime minister notes that Antigua and Barbuda has consistently responded constructively to concerns raised by successive United States administrations and respectfully submits that the objectives identified by the Department of State have now been substantially achieved in relation to Antigua and Barbuda.

Accordingly, the government has requested that the United States review Antigua and Barbuda’s continued inclusion in the visa restrictions and Visa Bond Program in light of the facts as they now stand.

“The government’s objective is not confrontation,” the prime minister said. “It is to ensure that decisions affecting the people of Antigua and Barbuda are based upon accurate information and upon the substantial steps our country has taken in close cooperation with the United States to address every legitimate concern that has been raised. We believe the time is now right for a review.”

The government of Antigua and Barbuda remains committed to strengthening its longstanding partnership with the United States and looks forward to continued engagement with the administration on matters of mutual interest and shared security.

In the Philippines, food security is going digital

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In the Philippines, food security is going digital
    • The Philippines’ Walang Gutom Program is using electronic vouchers to reduce hunger, improve diets and support local economies.

MANILA, Philippines – The Philippines reached an important development milestone on July 1, when the World Bank reclassified it as an upper-middle-income country. Its economy has doubled in size since 2010, while reforms have created millions of jobs, reduced poverty and increased fiscal capacity.

Yet the benefits remain uneven. Around 17.5 million Filipinos still live below the national poverty line, while an estimated 55.6 million cannot regularly afford a healthy and varied diet. Rural communities dependent on low-productivity agriculture are among those most at risk of being left behind.

The government’s Walang Gutom – Filipino for Zero Hunger – Program is responding by combining direct food support with nutritional education and livelihood training. Eligible low-income households receive electronic cards loaded each month with ₱3,000 in food credits, equivalent to around USD 50.

The OPEC Fund was among the program’s earliest supporters, providing a USD 500,000 technical assistance grant for the pilot implemented by the Philippines Department of Social Welfare and Development.

OPEC Fund country manager Driss Belamine said: “This is a highly important and impactful project that tackles the twin challenge of food poverty and healthy nutrition. It is a prime example of what sustainable development means, combining quantity – the provision of sufficient food – with quality by helping secure a healthy diet.”

The vouchers are designed to encourage balanced purchases. Beneficiaries may spend up to half of their credits on carbohydrates, up to 30 percent on protein and no more than 20 percent on dietary fibre. Participating vendors record purchases, helping the program assess nutritional compliance and respond to consumer demand.

Households must also attend monthly social and behavioural communication sessions covering nutrition and livelihood skills. The aim is to help families sustain improvements in their diets and food security beyond the period of direct assistance.

The program began with a pilot reaching almost 2,500 households between December 2023 and July 2024. Coverage expanded to 300,000 households by mid-2025 and reached 600,000 in February 2026. The government plans to support 750,000 households by 2027.

An impact analysis co-financed through an OPEC Fund grant found that the incidence of frequent hunger among beneficiaries fell by 20 percent. Nutrition advice delivered through text messages and social media also helped influence shopping and cooking choices, contributing to a 36 percent increase in fruit and vegetable consumption and a 21 percent increase in protein consumption.

The benefits extended beyond participating households. More than 1,300 local retailers and agricultural cooperatives gained from increased demand for their products.

The Asian Development Bank is the program’s lead development partner. Other contributors include Agence Française de Développement, the Japan Fund for Prosperous and Resilient Asia and the Pacific, and the United Nations World Food Programme.

Preparations are now in their final stages for a proposed USD150 million OPEC Fund loan supporting the Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project, known as REFUEL.

The wider rollout will also accelerate the use of digital payment systems in the Philippines. By combining social protection, better nutrition, local economic activity and digital delivery, the program supports both immediate household needs and longer-term development.

Seven OPEC+ countries – JMMC review global market conditions and outlook

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Seven OPEC+ countries – JMMC review global market conditions and outlook

VIENNA, Austria – The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 2 August 2026 to review global market conditions and outlook.

In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in September 2026 as detailed in the table below.

The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024.

The seven OPEC+ countries will continue to hold monthly meetings to review market conditions.

  • The next meeting will be held on 6 September 2026.

Meanwhile, JMMC, comprising Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela held its 67th Meeting via videoconference.

The JMMC reviewed current market conditions and emphasised the essential role of the Declaration of Cooperation (DoC) in supporting the stability of global energy markets. In this context, the Committee highlighted the critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy.

It also expressed concern regarding attacks on energy infrastructure, noting that restoring damaged energy assets to full capacity is both costly and takes a long time, thereby, affecting overall supply availability. Accordingly, the Committee stressed that any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility and weaken the collective efforts under the DoC to support market stability for the benefit of producers, consumers, and the global economy.

The JMMC reviewed the crude oil production data for the months of May and June 2026 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).

The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.

The JMMC will continue to closely monitor market conditions and retains the authority to convene additional meetings or request an OPEC and non-OPEC ministerial meeting, as established at the 38th ONOMM held on 5 December 2024.

  • The next meeting of the JMMC (68th) is scheduled for 4 October 2026.

How Santander Brasil and Eco Invest mobilise private capital at scale

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How Santander Brasil and Eco Invest mobilise private capital at scale
    • IDB Invest provides financing to Banco Santander Brasil to support sustainable agriculture, land restoration efforts, and resilient infrastructure.

By Marcia Groszmann

WASHINGTON, USA – The Eco Invest Brasil Program recognises a simple reality: public capital alone is insufficient to finance Brazil’s resilient development. What is required is an environment that allows private investors to participate on reasonable terms – reducing risk, aligning incentives, and creating scale.

Eco Invest combines blended finance, currency hedging mechanisms, and competitive auctions to attract long-term private investment for sustainable agriculture, land restoration, and resilient infrastructure. Banks and other financial institutions compete for access to public funds, with bids evaluated primarily on their ability to mobilise the largest volume of private capital.

Banco Santander Brasil, one of the largest financial institutions in the country, participated in the first two Eco Invest auctions. While the bank has broad access to funding, the challenge lies in mobilising long-term foreign capital at scale for Eco Invest’s priority sectors.

To address this challenge, IDB Invest provided a loan to Banco Santander Brasil, with a tenor of up to five years and a maximum amount of $150 million, while mobilising an additional $400 million from international B-lenders with shorter tenors. By acting as Lender of Record, IDB Invest extends its preferred-creditor status and contractual framework to private investors – thereby significantly enhancing risk mitigation and investor confidence.

How Eco Invest auctions channel capital through banks to projects  

Eco Invest’s blended finance auctions operationalise a simple mechanism: public catalytic capital is allocated competitively to local financial institutions, which then mobilise private capital (including external funding) and on-lend to eligible projects, subject to defined eligibility, safeguards, monitoring, and reporting requirements.

Mobilising additional private capital, not replacing it

Santander’s funding profile is robust, supported by a large deposit base and diversified market access. As such, the value of this transaction lies not in providing access to capital but in mobilising additional private investment and extending tenors.

The A/B loan enables Santander  

  • Secure longer-term funding aligned with the cash-flow profile of resilient assets;
  • Mobilise private international capital at scale under Eco Invest requirements;
  • Strengthen its participation in Eco Invest auctions, where mobilisation ratios are a key success metric.

In practice, the transaction demonstrates how multilateral capital can be used not to crowd out private funding, but to catalyse it – bridging the gap between investor appetite and project needs.

Aligning finance with impact

The proceeds of the A/B loan will support financing for projects eligible under Eco Invest, including:

    • Sustainable agriculture and livestock;
    • Restoration and productive use of degraded land;
    • Resilient infrastructure aligned with national development priorities.

At a higher level, the transaction contributes to:

    • Mobilising private capital for aligned investments;
    • Supporting Brazil’s land restoration goals across multiple biomes;
    • Demonstrating a replicable model for scaling sustainable finance in emerging markets.

A model for emerging markets

As highlighted by the OECD, Eco Invest offers a replicable model for emerging economies seeking to mobilise foreign capital while managing currency risk. The Santander A/B loan shows how this framework can be operationalised through well-designed financial intermediation that combines public and private resources in a disciplined, market-oriented way.

For IDB Invest, this transaction reflects our Originate-to-Share approach: originating complex, high-impact transactions, structuring them to meet market requirements, and then bringing in private investors to scale impact.

In doing so, we help turn investment priorities into bankable projects – and demonstrate that with the right structures, private capital can play a decisive role in financing resilient growth.

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