#National Handicapped Finance and Development Corporation loan

[fincrif]

Government & Special Schemes: A Complete Guide to Personal Loans

When it comes to financing personal expenses, a personal loan can be a valuable tool. However, did you know that there are several government-backed schemes and special loan programs designed to make personal loans more accessible and affordable for various groups of people? Whether you are a government employee, a first-time homebuyer, or an individual with specific financial needs, understanding these schemes can help you secure better terms and lower interest rates.

In this article, we will explore government and special schemes that offer financial assistance, discuss how these programs work, and provide a list of lenders who offer personal loans under these schemes.

1. Government Schemes for Personal Loans in India

1.1 Pradhan Mantri Mudra Yojana (PMMY)

One of the most prominent government schemes for financing small businesses and individuals is the Pradhan Mantri Mudra Yojana (PMMY). This scheme offers financial support to non-corporate, non-farm small/micro enterprises and is especially helpful for those looking to start their own business or expand an existing one.

Types of Loans under PMMY: ✔ Shishu Loan – Up to ₹50,000 for startups and small businesses in the early stages. ✔ Kishore Loan – ₹50,001 to ₹5 lakh for businesses that have a more established track record. ✔ Tarun Loan – ₹5 lakh to ₹10 lakh for larger small enterprises looking to grow.

💡 Tip: Since PMMY loans are aimed at small businesses and entrepreneurs, they can also be used for personal purposes like buying equipment or funding personal projects related to business needs.

🔗 Best lenders for PMMY loans: 👉 IDFC FIRST Bank Personal Loan 👉 Bajaj Finserv Personal Loan

1.2 Atal Pension Yojana (APY)

The Atal Pension Yojana (APY) is a government-backed pension scheme designed for workers in the unorganized sector. This scheme provides pension benefits to people between the ages of 18 to 40 years, ensuring a steady income after retirement. Though primarily a pension scheme, APY participants may also benefit from certain loan schemes tailored to meet their financial needs.

1.3 National Handicapped Finance and Development Corporation (NHFDC) Loans

The NHFDC offers personal loans at subsidized rates to people with disabilities, helping them fund various personal needs, including: ✔ Education ✔ Employment creation ✔ Livelihood enhancement

Eligibility Criteria: ✔ Individuals with disabilities must be between 18 to 55 years. ✔ A minimum of 40% disability must be verified by a medical board.

💡 Tip: NHFDC loans are especially helpful for disabled individuals to set up small businesses or manage personal expenses.

2. Special Loan Schemes for Government Employees

2.1 Government Employee Personal Loan Schemes

Many banks and NBFCs offer special personal loan schemes tailored specifically for government employees. These loans typically come with lower interest rates, flexible terms, and quick processing. Since government employees are considered low-risk borrowers, these schemes are designed to offer more favorable conditions.

Key Features: ✔ Lower Interest Rates – Reduced interest rates for government employees. ✔ Longer Tenure – Extended repayment periods (up to 7 years). ✔ Higher Loan Amount – Government employees can avail of larger loans than those with private-sector jobs.

💡 Best for: Government employees looking for unsecured loans to cover personal expenses or emergencies.

🔗 Best lenders for government employee loans: 👉 Tata Capital Personal Loan 👉 Axis Bank Personal Loan

2.2 Nationalized Banks Personal Loans for Government Employees

Nationalized banks such as SBI, PNB, and Bank of India also offer exclusive personal loan schemes for government employees. These loans are typically available at lower interest rates, making them an ideal choice for government staff members.

3. Schemes for Women Entrepreneurs

3.1 Stand-Up India Scheme

The Stand-Up India Scheme was launched to promote entrepreneurship among women, Scheduled Castes (SCs), and Scheduled Tribes (STs). Under this scheme, banks offer loans ranging from ₹10 lakh to ₹1 crore for greenfield projects in the manufacturing, services, or trading sectors.

Key Features: ✔ Collateral-free loans for women entrepreneurs. ✔ Repayment tenure of up to 7 years. ✔ Lower interest rates compared to standard loans.

💡 Tip: This scheme is ideal for women entrepreneurs who want to establish or grow a small business and need financial assistance.

🔗 Best lenders for Stand-Up India loans: 👉 Axis Finance Personal Loan 👉 InCred Personal Loan

4. Schemes for First-Time Homebuyers

4.1 Pradhan Mantri Awas Yojana (PMAY)

The Pradhan Mantri Awas Yojana (PMAY) aims to provide affordable housing to the urban poor and those from rural areas. This scheme offers subsidized loans for first-time homebuyers and those looking to upgrade their homes.

Key Benefits of PMAY: ✔ Subsidized interest rates (up to 6.5% p.a.) for home loans. ✔ Affordable repayment terms with long loan tenures. ✔ Available to both urban and rural residents.

💡 Tip: Check if you’re eligible for a PMAY subsidy before applying for a home loan to save significantly on interest payments.

🔗 Best lenders for PMAY loans: 👉 IDFC FIRST Bank Personal Loan 👉 Bajaj Finserv Personal Loan

5. How to Apply for Government and Special Scheme Loans

Step 1: Check Eligibility Criteria

Each government-backed or special loan scheme has specific eligibility criteria that must be met. Be sure to review the eligibility conditions for each scheme before applying.

Step 2: Gather Required Documents

Most loans will require basic documentation such as: ✔ Identity Proof ✔ Address Proof ✔ Income Proof (ITR, Salary slips, or Bank Statements) ✔ Property Papers (for housing schemes)

Step 3: Apply Through Approved Lenders

Many of these loans are disbursed by banks and financial institutions that are approved by the government. Ensure that the lender you choose is part of the approved list for each scheme.

Leveraging Government & Special Schemes for Personal Loans

Government and special schemes play a vital role in providing financial support to individuals from various backgrounds, whether you are a first-time homebuyer, government employee, or women entrepreneur. These schemes typically offer lower interest rates, longer repayment periods, and less stringent eligibility conditions, making them highly beneficial for personal and business needs.

Before applying, make sure you: ✔ Check the eligibility for the scheme that fits your needs. ✔ Compare interest rates and loan terms to get the best deal. ✔ Prepare your documents in advance to speed up the approval process.

For the best personal loan options, apply here: 👉 Compare & Apply for a Personal Loan

By leveraging these government and special schemes, you can achieve your financial goals more affordably and efficiently.

[studywithds]

01-03-2020 | PIB News

01-03-2020 | PIB NEWS | StudywithDS

1.Shri Narendra Singh Tomar inaugurates the Pusa Krishi Vigyan Mela-2020 The Union Minister for Agriculture & Farmers’ Welfare, Rural Development & Panchayati Raj, Shri Narendra Singh Tomar has called for retention of talent in Agriculture. Today, He Inaugurating the Pusa Krishi Vigyan Mela-2020. and He Said India has a vast pool of agricultural scientists and specialists graduating from universities every year. & he added, “Government can provide funds, subsidies, and incentives, but there has to be an interest in farming. For this agriculture has to be made a profitable venture; it should fulfill the nation’s needs, its share in GDP and exports should rise,”. Shri Tomar said the Prime Minister Shri Narendra Modi has given priority to agriculture and set a target of doubling farmers’ income by 2022. The Government has ensured one-and-a-half times MSP of input costs to farmers, assured Rs.6,000 annually to farmers covered under the PM-KISAN scheme and a loan of Rs.1,60,000 under Kisan Credit Card. Shri Tomar said the Prime Minister yesterday launched the registration of 10,000 new Farmer Producer Organisations (FPOs) in order to promote cooperative farming. A budgetary provision of Rs. 6,600 crore has been made to provide each FPO a sum of Rs. 15 lakh for all farming-related activities ranging from sowing, harvesting to distribution and marketing. For this purpose, a Credit Guarantee Fund of Rs.1,500 crore has been created jointly by NABARD and NCDC. Shri Tomar said geographic divisions and climate change pose a challenge to our agriculture community. He said the Ministry is in the process of organizing a big conference in each of the eight zones. The Minister said field exhibitions on the patterns of Pusa Krishi Vigyan Mela should also be organized simultaneously. The Prime Minister has directed that a study on Pesticides be included as part of the Agriculture curriculum. the Minister of State for Agriculture & Farmers’ Welfare, Shri Parshottam Rupala called for organizing such Farmers’ Fairs in every state. He urged the Agriculture Institutes and scientists to ensure that superior seeds are provided to farmers at reasonable rates. an MoU was signed between the ICAR and Patanjali Bio Research Institute (PBRI), Haridwar in the presence of the three Ministers. The MoU was signed by Dr. Trilochan Mohapatra on behalf of ICAR and Shri Acharya Balkrishna, Chief Executive Officer (CEO), Patanjali & Managing Director, PBRI. the MoU will promote Organic Farming with the R&D expertise of ICAR and the indigenization efforts of Patanjali in a wide range of products. 2.New explosive detection device, developed by DRDO & IISc Bangalore, unveiled in Pune Today, RaIDer-X, a new explosive detection device, was unveiled at the National Workshop on Explosive Detection (NWED-2020) in Pune RaIDer-X has the capability to detect explosives from a stand-off distance. The data library can be built in the system to expand its capability to detect a number of explosives in pure form as well as with the contaminants. Bulk explosive in a concealed condition can also be detected by the device. RaIDer-X has been co-developed by High Energy Materials Research Laboratory (HEMRL) Pune and Indian Institute of Science, Bangalore. Secretary of Department of Defence Research &Developmentand Chairman Defence Research & Development Organisation (DRDO) Dr. G Satheesh Reddy, inaugurated The NWED-2020. The two-day workshop has been organized by HEMRL Puneon its diamond jubilee celebration. HEMRL Pune is a premier laboratory of DRDO. It provides a platform to scientists, technocrats and users to share knowledge, experience and updated information on the technological advancements made in the recent past. The DRDO Chairman said that detection of explosives is a compelling need of the hour. Security agencies are continuously monitoring vulnerable targets with the help of intelligence agencies to thwart the attempts of anti-social elements. A total of 250 delegates from different DRDO laboratories, Army, CRPF, CISF, State Police, academic institutes, industries, and other security agencies are attending the workshop. 3.Memorandum of Understanding Between Indian Air Force and Savitribai Phule Pune University As a unique initiative of Indian Air Force. the IAF and Savitribai Phule Pune University entered into an academic collaboration by signing a Memorandum of Understanding to establish a 'Chair of Excellence' at the Department of Defence & Strategic Studies on 29 Feb 2020. To pay tribute to the legend and commemorate the centenary birth year of the MIAF, the IAF has named it as "Marshal of the Air Force Arjan Singh Chair of Excellence". The Chair will enable IAF officers to pursue Doctoral Research and higher studies in Defence & Strategic Studies and allied fields. The chair will facilitate research and higher studies in the area of National Defence and allied fields of Air Force officers. The chair would facilitate inculcating a strategic outlook and building a pool of strategic thinkers. The ceremony was presided over by Shri Nitin Karmalkar, Hon'ble Vice-Chancellor of SPPU. The Chief Guest of the function was Air Marshal Amit Dev AVSM, VSM, Air Officer-in-Charge Personnel, Indian Air Force and was attended by Air Vice Marshal LN Sharma AVSM, Assistant Chief of the Air Staff (Education) and other senior IAF and University officials. 4.GST Revenue collection for February, 2020? 1,05,366 crore gross GST revenue collected in February The gross GST revenue collected in the month of February, 2020is ₹ 1,05,366crore of which CGST is ₹ 20,569crore, SGST is ₹ 27,348crore, IGST is ₹ 48,503crore (including ₹ 20,745crore collected on imports) and Cess is ₹ 8,947 crore (including ₹ 1,040crore collected on imports). The total number of GSTR 3B Returns filed for the month of January up to 29th February 2020 is 83.53lakh. The government has settled ₹ 22,586 crores to CGST and ₹ 16,553 crores to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of February 2020 is ₹ 43,155 crores for CGST and ₹ 43,901 crores for the SGST. The GST revenues during the month of February 2020 from domestic transactions have shown a growth of 12% over the revenue during the month of February 2019. Taking into account the GST collected from the import of goods, the total revenue during February, 2020has increased by 8% in comparison to the revenue during February 2019. During this month, the GST on import of goods has shown a negative growth of (-) 2% as compared to February 2019. The chart shows trends in revenue during the current year. The table shows the state-wise figures of GST collected in each State during the month of February 2020 as compared to Feb 2019.

State-wise GST revenue in February| StudywithDS 5.Week-Long “Ekam Fest” to Begin Tomorrow to Promote Craftsmanship & Products of Divyang Artisans And Entrepreneurs Union Minister of Social Justice & Empowerment Shri Thaawarchand Gehlot will inaugurate the week-long Exhibition-cum-Fair “EKAM Fest” organized by National Handicapped Finance Development Corporation (NHFDC) under M/o Social Justice & Empowerment tomorrow evening at State Emporia Complex, Baba Kharak Singh Marg, New Delhi-1. Union Minister for RT&H and MEME Shri Nitin Jairam Gadkari and Union Minister for Women and Child Development and Textiles Smt. Smriti Zubin Irani will grace the occasion. Ministers of State for SJ&E Shri Krishan Pal Gurjar, Shri Rattan Lal Kataria and Shri Ramdas Athawale will also be present. EKAM Fest is an effort for promoting entrepreneurship and knowledge among the Divyangjan community, generating awareness among society about potentialities of PwDs & providing a major marketing opportunity to PwDs entrepreneurs. NHFDC Foundation is making efforts for the development of a brand and platform for marketing of products of these determined entrepreneurs. Accordingly, the name of the brand has arrived at Ekam (Entrepreneurship, Knowledge, Awareness, Marketing). The word Ekam also represents the inclusiveness, oneness, and unity which appropriately describe the efforts being put in by NHFDC to develop the marketing platform and aggregation of the products through the promotion of entrepreneurship, knowledge sharing, Awareness creation and marketing initiatives amongst the Divyangjan. The week-long Ekam Fest will also host a number of activities like cultural extravaganza including performances by Divyang artists and well-known professionals. Additional highlights of the event will be astrological consultations and foot massage by Divyang professionals. In the first Ekam Fest, Divyang Entrepreneur and Artisans from all over the country have been invited with representation from J&K to Puducherry and from Nagaland to Gujarat. The fest will see vibrant products from J&K and NE with products ranging from handicrafts, handloom, Embroidery work and dry fruits. During the Fair, around 80 Divyang Entrepreneur/Artisan and organizations from 18 States/UTs shall display their skills represented through their beautiful products, services and demonstration of skills. It will be an opportunity for all to encourage these products made with extraordinary determination by the divyang craftspersons and entrepreneurs. NHFDC also plans to start an online marketing platform to promote online sales and roping in the big corporate houses. The Ekam Fest stalls will see the following broad products category: Home Décor and Lifestyle Textiles Stationery and Eco-Friendly products Packed Food and Organic Products Toys and Gifts Personal Accessory –Jewelry, Clutch Bags The new initiatives of NHFDC will be showcased in the Fest. A few are highlighted below: NHFDC Swavalamban Kendra (NSK): NHFDC has taken an initiative to establish PWD owned micro skill training Centers throughout the country for skill training of PwDs. These NSKs will have the capacity to provide quality skill training to around 120 PwDs per year NSK. The PwD owner of the NSK is expected to earn around Rs 20,000 per month. Safe Cabs in Delhi and Indore: NHFDC has made an arrangement with Sakha Cabs where the PwD owned commercial vehicles will be driven by the Women drivers to provide safe taxi options for the women, children, and senior citizen commuters. Such Safe cabs are already in operation at New Delhi and Indore Airport. The vehicles here are financed by NHFDC under its scheme. Safe Drinking Water E Carts: NHFDC has recently agreed to finance E-carts fitted with RO water dispensing vending machines. These carts will sell water in paper glasses maintaining hygiene. The carts will be supported in operation by Bharat Jal. The PwD owner is expected to earn Rs 10,000/- to Rs 15,000/- per month in the operation of these carts. NHFDC is an Apex corporation under the aegis of Department of Empowerment of Persons with Disabilities (Divyangjan), Ministry of Social Justice & Empowerment and is working since 1997. It is registered as a company, not for profit and provides financial assistance to the Divyangjan/Persons with Disabilities (Divyangjan/PwDs) for their economic rehabilitation and provides a number of skill development programs to empower them to grow & sustain their enterprises. To empower the Divyang and marginalized groups of the society more closely, NHFDC has taken a step forward and established the NHFDC Foundation, this year. Recognizing the absence of a connect with the market which hinders fair prices and volumes in the sale of the unorganized tiny Divyang entrepreneurs, NHFDC Foundation is making efforts for the development of a brand and platform for marketing of products of these determined entrepreneurs. Read the full article

[jamaicaismyplayground]

Dr Germaine Spencer, an obstetrician, gynaecologist and surgeon, is not satisfied with being just a medical practitioner, when there is money to be made from quality health facilities.

The medico with a taste for business specialises in female oncology, that is, cancer prevention, treatment and care for women; minimally invasive abdominal or laparoscopic surgery; and vaginoplasty or cosmetic vaginal surgery. He identifies the latter as a booming area of a generally profitable health business.

Spencer, 38, has outfitted and operates three private health centres in Montego Bay and is now investing in excess of US$2 million, or over $260 million in local currency, in a new private hospital set to open in the western city by next January. For the past year, he has also invested in a restaurant and sports bar in the western city.

Baywest Hospital takes up space formerly occupied by MoBay Hope at Half Moon Shopping Village in Rose Hall. Hospiten Group, the Spanish owners of MoBay Hope, rebranded the facility and relocated just across the road where it now operates as Hospiten Montego Bay. That 27-bed hospital, reported to have been built at a cost of $2.3 billion, was opened in October 2015.

Spencer is taking a slightly different market focus than rival Hospiten and is banking on the encouragement of corporate clients, including major hotels, large business process outsourcing firms, cruise lines and international insurance providers to drive business his way.

"The market is there for the taking," he told the Financial Gleaner.

The 10-bed Baywest Hospital will be equipped with an operating theatre, a maternity suite, clinics and a full range of imaging services, and will be serviced by a staff of nearly 30, including 20 doctors. The hospital joins three other Baywest health facilities all located in Montego Bay - at Baywest Shopping Centre; on Barnett Street; and a 24-hour operation at the Fairview commercial centre in the expanding Bogue suburbs.

These businesses grew out of one office in Baywest Centre, started in 2011, which itself has undergone major expansion and now occupies some three rented shops, one utilised as an operating theatre. Baywest Medical partners with ambulances service providers Life Call and EMed air ambulance.

The tenacious entrepreneur also operates E-Shore Medical, which provides medical services on location in the Montego Bay Free Zone for call centre workers.

Last year, spurred by the perceived need among young professionals for a safe space to relax downtown, Spencer decided to enter the food service business. He opened 876 Legends restaurant and sports bar at the fast-developing Fairview Town Centre on the Montego Bay outskirts.

The 876 investment, to date, is in excess of $30 million. Spencer said he is still learning the restaurant business and is yet to determine whether to maintain a long-term footprint in that industry.

The entrepreneur says his business expansion is being financed largely by bank loans with savings, reinvestment of earnings and support from one family member who assisted in purchasing some equipment in the early stages. He and wife, Kerene, who oversees the finances full-time, were coy about disclosing the total investments to date, which they admit is sizable.

All the businesses combined employ close to 50 people.

Self-sufficient centre

In his core area of competence, medicine, Spencer's central business idea is to create a "wide network of full-service, urgent-care medical facilities throughout western Jamaica", with these centres also providing referrals to the Baywest Hospital.

These centres are intended to be self-sufficient, providing services including general practitioner, physician, obstetrician/gynaecologist, internist, surgeon, dentist, laboratory, ultrasound, X-ray and other imaging services. His network of urgent-care health facilities is also expected to be supported by a services locator mobile app with the capacity to deliver medical advice from trained paramedics, security and roadside assistance. The GPS-enabled app has been in development for a few years but is expected to be launched soon, pending the expected signing of a major health insurance provider.

Spencer plans to grow his holdings nationally, eventually, but first wants to perfect his business model before stepping beyond western Jamaica.

For now, the evolution of his business is driven by "gut feeling" and his knowledge of the health-care environment.

Spencer says he is not worried about the competition from the various medical centres and doctors' offices dotting the landscape in Montego Bay. He cites the full-service nature of the Baywest medical centres, a down-to-earth service culture, and "less-than-market benchmark" fees as competitive advantages. The three locations together are said to see up to 180 patients on a good day.

As he puts it, the state of public health facilities and services, handicapped by the lack of resources stemming from the Government's no-user-fee policy, is providing a lucrative, growing market for medical entrepreneurship.

"There is 'x' number of patients any human being can see per day without getting flustered. The clinics are backed up. The surgery list is backing up," said Spencer. The 'no-user -fee' policy "created a lull for us initially, but business went back to what it was before," he said.

Spencer's first foray into business was in 2010 on his return to Jamaica from Trinidad and India, where he pursued advanced studies following his degree studies in medicine and surgery at the University of the West Indies, Mona.

Building from failure

He tasted failure when his initial medical centre business partnership established at Fairview in Montego Bay went sour after a year, while he worked full-time in the government health service for three years. But he decided to treat it as a positive development, an opportunity to do better on his next venture.

He has a protracted court battle that ended a year ago to thank for the recovery of some of his initial investment, which saved him from total loss on the venture.

The Jamaica College graduate credits his uncle, Dr Howard Spencer, a retired cardiothoracic surgeon, professor emeritus of cardiothoracic surgery at the University of the West Indies and registrar of the Medical Council of Jamaica and the Caribbean Association of Medical Councils, for having encouraged him into medicine and guiding him professionally.

But credit for his entrepreneurial side, he said, goes to his mother Yvette Griffiths.

Both his mother and father, Goldstone Spencer, have been involved in garment manufacturing.

"My mother is a strong woman," he said, recalling the challenging times when her business was seriously and adversely affected in the financial sector meltdown and Finsac bailouts of the 1990s and she struggled to keep the venture afloat, pay staff and put food on the family table.

Spencer notes that he tries to match his mother's tenacity in his own business pursuits.

"I love business. Medicine is my route to business," he said.

[sarkarimirror]

MoA between PNB & NHFDC

New Delhi, March 07, 2019 Punjab National Bank, Country's one of the largest public sector lender and National Handicapped Finance and Development Corporation (NHFDC) have tied up to provide financial assistance for economic development of Persons with Disabilities (PwDs) for their economic benefits and employment. A Memorandum of Agreement to this effect was signed by Shri B. S. Raina, Corporate General Manager, Priority Sector & Financial Inclusion Division, PNB and Shri Ranajit Kumar Mishra, Company Secretary, NHFDC in the presence of Shri A.P.Garg, Deputy General Manager, Priority Sector & Financial Inclusion Division, PNB,Dr.Vineet Rana NHFDC, and other dignitaries. On the occasion, Shri B.S.Raina informed that PNB, through its huge network and customer base, would act as Channelizing Agent (CA) for the loan schemes of NHFDC. Shri Ranajit Kumar Mishra emphasized that NHFDC in collaboration with PNB, will provide concessional finance for setting up of self-employment projects and skill-training grants financial assistance for economic development of Persons with Disabilities (PwDs) for their economic benefits and employment. Read the full article

[jobsinchicago911]

Treasury Manager

Advanced Group leverages over 30 years of expertise in talent acquisition, staffing, and outsourcing solutions to operate the award-winning Advanced Group family of brands, including Advanced Clinical, Advanced Resources, Advanced RPO, and WunderLand Group. Together, with mastery across professional disciplines and global markets, we’re dedicated to make a difference, every day, for our clients, our candidates, each other, and our communities. Advanced Group’s Shared Services team provides corporate services such as Marketing, Human Resources, Finance & Accounting, IT, and Operations to each of our brands. Our employees are the foundation of our energetic and collaborative environment, where constant learning and service to others take top priority. We seek dynamic, hard-working team members who are inspired to work amongst diverse backgrounds and perspectives. From our altruistic mission to outstanding career development opportunities, there’s no better place to grow your career than Advanced Group.

The Sr. Treasury Analyst is a newly created position that is responsible for managing the Company’s cash, investments and financial risk exposures through a network of financial institutions. You will provide support to improve the achievements of the company’s financial goals by executing activities related to monthly and quarterly global cash flow analysis, bank reconciliation, banking platform statements, collections and treasury documentation, bank fee and interest analysis, and internal controls reporting. Additionally, this role will support the Head of Tax and Treasury with special projects and any ad hoc reporting requests.

Coordinate daily cash management function worldwide to make sure entities can meet their financial goals and obligations.

Review & approve daily manual ACH/wire transfers in bank websites for all regions.

Facilitate the management of domestic and international bank accounts, signatories and KYC requests.

Ensure alignment of bank account controls and signatories with corporate strategy and financial policies.

Lead the annual FBAR process and support the Tax department’s data requirements.

Conduct bank account signer audits with each bank at least annually.

Ensure our Treasury policies and procedures are current;

Ensure internal controls compliance with respect to policies and procedures.

Coordinate the tracking and reporting of bank account changes throughout the year.

Perform monthly/quarterly interest analysis in relation to the line of credit and term loans.

Liaise with banks to deliver automated bank fee reporting

Respond to internal and external audit requirements and inquiries.

Develop and maintain strong relationships with the different departments and entities within and outside of the Company, including relationship banks.

Support evolving Treasury reporting function; Work with IT finance resources to share Treasury data efficiently to improve our forecasts and Treasury services.

Lead all aspects of financial information (Bank Accounts, Account Signers, Counterparty Ratings, Commercial Cards, Investment balances, G/L postings and report writing including open/close bank accounts and maintain authorized signatories).

Responsible for monthly, quarterly and annual reporting (Line of Credit, Term Loans, bank fees, interest, investment activity).

Prepare Monthly, Quarterly and Annual reporting for various departments within the Finance group.

Manage the cash forecast model and upload actuals to forecast cash needs.

Develops and prepares presentations to senior management, Board of Advisors, and third-party organizations.

Support special projects as needed.

Bachelor’s Degree in General Business, Accounting, or Finance.

3-5 years of proven experience in a global Treasury Department.

Knowledge of principles and best practices of global cash management and treasury functions preferred.

Ability to multi-task, be a self-starter, and manage competing deadlines

Strong project management.

MBA/Certified Treasury Professional (CTP) preferred.

Proficient Excel, Word and PowerPoint skills.

Excellent communication, analytical, and collaborative problem-solving skills

Ability to work with different functional groups and levels of employees to effectively and professionally achieve results.

Ability to develop and execute task specific projects with minimal direct supervision.

Outstanding attention to detail and experience working in a fast-paced environment.

Strong written and oral communication skills, including the ability to present ideas and suggestions clearly and effectively with all levels of corporate staff and management

Dependable and punctual.

Sense of urgency with demonstrated ability to meet deadlines

Eagerness to take initiative

Willing to work remote

What’s in it for you? Advanced Group offers competitive compensation, comprehensive benefits packages, and a flexible work environment designed to help our team members and their families stay healthy, meet their financial goals, and generally thrive in and beyond work. Visit the links below to discover all that Advanced Group has to offer:

Our Culture: https://careers.advancedgroup.com/embrace-our-culture

Career Development Opportunities: https://careers.advancedgroup.com/realize-your-potential

Community Programs: https://careers.advancedgroup.com/unleash-your-passion

For a complete list of all of our job openings, please visit Advanced Group’s career site here.

  It is Advanced Group’s practice not to discriminate against any employee or applicant because of sex, race, color, age, national origin, religion, gender identity or expression, sexual orientation or sexual preference, pregnancy or maternity, genetic information, marital status, disability, veteran status, or any other basis protected by applicable federal, state or local law.

This practice applies to all terms and conditions of employment including, but not limited to, hiring, training, compensation, benefits, promotions, transfers, layoff, Company-sponsored education, social and recreational programs, and treatment on the job.  If you have a disability or handicap and would like us to accommodate you in any reasonable way, please inform your recruiter so that we can discuss the appropriate alternatives available.

 The post Treasury Manager first appeared on Jobs in Chicago.

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[dpr-lahore-division]

With the compliments of, The Directorate General Public Relations,

Government of the Punjab, Lahore Ph.: 99201390.

No.41/QU/Mujahid

HANDOUT (A)

CM CHAIRS MEETING OF PUNJAB ENVIRONMENTAL PROTECTION COUNCIL

LAHORE, January 08:

        Chief Minister Punjab Sardar Usman Buzdar presided over a meeting of Punjab Environmental Protection Council at his office in which principle decision was taken to formulate provincial climate change policy. The meeting also decided to prepare a comprehensive environment situation report. The chief minister disclosed that an environmental endowment fund will be set up to regularly monitor and determine the standard of air quality index and directed to constitute a committee in this regard. The government wants people to breathe in the fresh air. The identification of environmental quality should be realistic, he directed and further said that experts will also be consulted to deal with climate change issues as it is a sensitive matter and no leniency or negligence could be tolerated.

        The chief minister regretted that criminal negligence was shown in the past by ignoring climate challenges and trees were mercilessly cut for erecting a chaotic jumble of concrete structures, bridges and buildings. We are facing the consequences now in the shape of smog and environmental pollution, he regretted. Usman Buzdar emphasized that the coming generations will have to be provided a neat and clean atmosphere and for that purposes, every challenge has to be met to settle the issues. He directed that meetings of Punjab Environmental Protection Council will be regularly held. Environmental experts and heads of different departments presented their proposals. Provincial environment minister Muhammad Rizwan, secretaries of environment, industries, Planning & Development, finance, irrigation, health and forests departments, representatives of World Wild Fund, Punjab University, UET Lahore and others attended the meeting.  

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No.42/QU/Mujahid

HANDOUT (A)

CM SEEKS REPORT ABOUT THE DEATH OF YOUTH

LAHORE, January 08:

        Chief Minister Punjab Sardar Usman Buzdar expressed sorrow and grief over the death of youth due to falling of container over their bike in Kamoke area. He extended sympathies to the bereaved families and sought a report from the administration about the incident.

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No.43/QU/Akram

HANDOUT (A)

CM WELCOMES PASSING OF SERVICES ACT AMENDMENT BILL FROM SENATE

LAHORE, January 08:

    Chief Minister Punjab Sardar Usman Buzdar has welcomed the passing of Services Act Amendment Bill from the senate after national assembly and said that political consensus over national issues is a victory of democracy. In a statement, he said that passing of the bill has given a positive message of unity and cohesion and political parties have shown a responsible behaviour. The government and opposition are on one page on important issues as national development lies in unity, he added. It is sanguine that Prime Minister Imran Khan has tackled this issue in the best of the manner by showing sagacity and farsightedness. National issues will be tackled with consensus in future as well, he added.          

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No.44/QU/Akram

HANDOUT (A)

POLICE ARRESTS ACCUSED INVOLVED IN MOLESTATION OF MENTALLY HANDICAPPED GIRL

LAHORE, January 08:

    On the notice of Chief Minister Punjab Sardar Usman Buzdar, the police have arrested one accused involved in molestation of a 13-year-old mentally handicapped girl in Wah Cantt and raids are being conducted to arrest the absconding accused Nadeem. The chief minister has assured that the provision of justice will be ensured to the heirs.

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No.45/QU/Akram

HANDOUT (A)

CM CHAIRS MEETING TO APPROVE LOAN SCHEME FOR SMALL AND MEDIUM ENTERPRISES DEVELOPMENT

LAHORE, January 08:

    Chief Minister Punjab Sardar Usman Buzdar chaired an important meeting at his office in which launching of a new loan scheme for small and medium enterprises development was approved. Under this scheme, up to Rs50 lac could be taken for existing businesses or new business activity. Men, women and transgenders could apply for this scheme in manufacturing, services and trading categories. The Punjab Bank will provide support to Punjab Small Industries Corporation for the launch of this scheme. The meeting also approved to start a loan scheme for cottage industry. Under this scheme, one lac to three lac soft loan would be given.

        The chief minister directed to settle the requirements as early as possible so as to launch the said schemes without any delay. He hoped that industry will grow through the provision of soft loans and youth will earn a livelihood after learning necessary technical and vocational skills. He pointed out that the industries facing financial crunch would be especially facilitated. The meeting also pondered over the proposal of naming the loan scheme as “Punjab Rozgar” while the MD PSIC briefed about salient features of small and medium enterprise loan programme. Industries minister Mian Aslam Iqbal, finance minister Hashim Jawan Bakht, Chief Secretary, Chairman P&D, administrative secretaries and others attended the meeting.

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[corporationsetup]

Double Your Profit With These 5 Tips on Help With Paying Apartment Rent For Free

According to government real estate standards, any kind of household that puts greater than 30% of their revenue toward lease are "expense burdened." This implies they might have trouble paying for other needs.

" That's hard in a lot of rental markets for individuals," states Laura Scherler, elderly supervisor of economic movement and also corporate solutions at United Means. She added that there are individuals that invest upwards of 40 or 50% of their income on rental fee. "It leaves them vulnerable if their auto breaks down, or their kids get sick. Anything unforeseen will certainly toss them off. It doesn't provide any wiggle room to manage those situations."

That was the case for Mandy. She and her partner had currently tired their savings for their relocation when they had to get her automobile dealt with. Mandy estimates that they were paying near 50% of their common revenue toward rent.

" We didn't have any kind of cost savings to draw on," Mandy says, including that conserving also $20 per paycheck (as Scherler suggests) was incredibly challenging for the pair at the time.

Financial challenges prevail Only 39% of Americans can spend for a $1,000 monetary emergency situation out of their cost savings, according to a current survey from Bankrate.

The very same Bankrate study located that of those who can not spend for a $1,000 financial emergency situation out of savings, their solution is to:

Finance with a bank card (19%). Reduce their costs on other things (13%). Obtain loan from friend or family (12%). Get an individual loan (5%). There are lots of factors that a person can be looking for short-term aid and would certainly wish to know exactly how to get help with rental fee. Volunteers of America (VOA) is a nationwide nonprofit company that aids individuals discover budget friendly real estate, specifically professionals, seniors, families and also individuals with impairments. VOA has identified these factors for the boost in requirement:.

Salaries are not raising at a symmetrical price to the continually increasing building worths as well as low job prices. Property values and also lease continue to boost at a rate that renters can not stay up to date with, causing have problem with paying rent. Significantly long waiting listings for subsidized housing. Waiting lists of 2-3 years for low-income households and songs make paying rental fee in higher rental units more difficult. While the problem may be on the surge, there are ways to increase loan for rental fee.

Exactly how to obtain help with rental fee. 1. Read your lease. Discover your legal rights as an occupant. Look to see what happens if your settlement is late or if you miss out on a month, as well as when expulsion process would start.

Generally, it takes 90 days prior to expulsion procedures begin, Scherler states, so there is a long time to collaborate with.

" If you miss out on one rental fee repayment, however make your adhering to month's settlement, you might not be forced out," Scherler says.

2. Talk with your property manager. They might be willing to work with you if you are an excellent renter and also have a good relationship with your proprietor. Ask if they will certainly approve a late payment or if you can pay your rent in installations.

3. Reach out to nonprofits. When the government can not, nonprofit organizations can load the need for help. Both Catholic Charities and also The Salvation Military may have the ability to offer reserve to pay your rental fee and energy expenses. Contact your neighborhood Redemption Army or Catholic Charities to learn if you fulfill their demands for monetary support. With The Salvation Military, applicants consult with a caseworker as part of the process.

Another option is calling 2-1-1, a 24-hour helpline carried out by United Way that links individuals in need of aid to resources in their communities.

Of the 15 million phone calls and also emails asking 2-1-1 for aid in 2017, 4.4 million were for real estate and utility assistance. That phone call quantity was the highest percent of any kind of classification, Scherler says.

" I think, regrettably, real estate is a challenging one," Scherler says. "That is a large obstacle in a lot of neighborhoods.".

An additional nationwide not-for-profit company that offers support is Modest Demands, which supplies grants for a single emergency situation cost.

Individuals have to use for a grant through Modest Demands. Most requests get fulfilled within 2 weeks, Taylor says, and also numerous of the give applications have to do with covering living expenditures that candidates can not pay for due to a temporary monetary emergency.

4. Check into other incomes. Ask your friends and family participants for a funding or see if you can get a pay-roll advance from your company. Some firms might additionally have a hardship fund for workers.

5. Think about crowdfunding. Crowdfunding is a fantastic solution. An excellent way to sharp friends and family to your situation is by beginning a fundraising event on GoFundMe. They give cost-free fundraising so you reach keep even more of the funds you raise.

6. Rental assistance for veterans. If you're a professional, the U.S. Department of Veterans Matters gives help for homeless veterans. Nonprofit companies like Veterans Inc. may also be able to aid those that need aid with lease via its housing program. The federal government has a program to offer financing to create and also subsidize low income rental real estate for grownups with specials needs if you're handicapped.

7. Federal government aid. The federal government provides just minimal help to pay emergency rent costs. The federal division of Real estate as well as Urban Growth offers aid with its real estate selection coupons program, but there are typically long waitlists, Scherler says.

The federal government does provide some emergency funding. It's normally carried out through the state firms, but unless you're facing expulsion, the help is hard to get.

" You practically have to get to the point of dilemma prior to you have the ability to obtain aid," Scherler states.

A rental fee dilemma can indicate a much deeper demand. By having a look at the large picture when faced with an one-time, emergency expenditure, people can avoid years of financial struggle.

For Mandy, her rental fee struggle was an indicator that she and her partner required even more assistance to manage than they intended to admit. They had actually been thinking about looking for Supplemental Nutrition Help Program (typically referred to as BREEZE), however their monetary situation created them to seek help right away.

" We felt dreadful," Mandy claims. "We wanted so terribly to be self-dependent, however we simply could not make it function.".

There are a variety of free sources offered if you are in a situation like Mandy's, and several continue to offer assistance after the crisis has passed.

Volunteers of America has the following guidance if you need aid paying your rental fee:.

Take an energetic role in developing an activity strategy to end your crisis circumstance with short-term and long-term solutions. Prevent neglecting the trouble up until the last minute. Don't make or worry rash decisions, as there are neighborhood sources and also sustains in place to get you with this scenario. Consider taking free budgeting courses to establish just how to pay your lease, or if you require to find a less costly location to live. " If you have this creeping suspicion that following month you could not make the lease, you require to begin looking right now," Taylor says. "It is necessary to be positive as well as actually get out there.".

There's no shame in requesting help. Regardless if you're asking for aid via a not-for-profit company, pals or family, or crowdfunding, do not feel ashamed.

" Everyone falls on bumpy rides," Mandy claims. "It takes place to even more of us than people realize.".

If you're having a hard time as well as require to elevate money for lease, take a deep breath. Sometimes we all require a little help.

There are many factors that someone might be in requirement of short-term assistance and would certainly want to recognize exactly how to obtain aid with rent. Volunteers of America (VOA) is a national nonprofit organization that assists people discover budget friendly real estate, specifically veterans, elderly people, family members as well as people with disabilities. Nonprofit companies can fill the requirement for assistance when the federal government can not. Nonprofit companies like Veterans Inc. may additionally be able to assist those who require assistance with lease through its real estate program. Sometimes we all require a little aid.

[johnjankovic1]

Marshall Plan’s Strategic Trade Policy

The reformism cast upon foreign industrial policy by way of US trade over time was most starkly substantiated by and which germinated from the Marshall Plan, a unilateral endeavour to leverage American giantism over what was then a prostrate Europe at the close of WWII when, in reciprocation for aid, this quid pro quo was gratified by new access to the continent’s markets. Investment into Europe’s economy in the guise of monetary relief thereby spearheaded film exports produced by multinationals. Such economic statecraft, which the author contends to be the provenance of strategic trade policy, constituted a shrewd linkage between investment reconciled to trade whose lopsidedness indulging American interests acutely began in the 1940s. In spite of being awash in new investment capital meant to pump prime Europe’s economy, on average 340 American films per annum inundated French markets, its domestic firms however produced a meagre 40, the disproportion issued from the nascent program of loans the provisos of which privileged US multinationals in France’s fecund markets and elsewhere that, by necessity when in thrall to the US Treasury’s helicopter money, yielded to Hollywood’s influx of culture commodities (Ellwood 1994:7; Swann 1991:2). The logic was a symphony of economic genius and alchemy: 1) supply Europe with investment capital; 2) the continent’s aggregate demand thereby increases; 3) that same investment in virtue of how postwar industries were in disrepair recycled back into American firms compensating for the constraints on production; 4) a positive-sum outcome manifested as Europe and US economies grew whilst the latter’s horizontal and vertical FDI generated subsidiaries as well as controlling interests in foreign companies; 5) the multiplier effect from this initial investment bolstered US national income and ergo its global hegemony both economically and culturally as a tonic to the preceding wartime ravages.

The Marshall Plan, after previous financing stopgaps to Greece and Turkey’s plight against communism, was an unvarnished policy of strategic trade at its finest. Acquiring a foothold in Europe, the legerdemain gambit consolidated market share for American firms whereby under the false pretence of a structural adjustment program monetized at $13bn ($143bn in constant 2017 dollars) it enabled proliferation of US industries and in particular for Hollywood whose 40 percent of revenue earnings depended on European sales in the 1950s (Swann 1991:6; Eichengreen 1991:2). The currency of American film was plainly sent forth in 1954 seen in the theatre seat to moviegoer ratio, 1:14 in the US, 1:12 in the UK, and 1:11 in Italy (Golden & Young 1955:14), the bankability of this filmgoing the State Department devoted to safeguard in terms of attendant remitances hence it browbeat those banks reluctant to convert earnings into US dollars for repatriation under the fixed exchange-rate system of Bretton Woods (Swann 1991:7). The Marshall Plan’s strategic trade policy in a cultural sense thus bolstered and broadened the propaganda arm of the military-industrial-complex whereas it equally was a fillip to American manufacturing. The revisionism herein dispels any romantic notion of enlightened idealism, the seed money for Europe’s fast reconstruction, which Germany christened Wirtschaftswunder after the era’s unprecedented development, certainly muted the siren call of Soviet communism and renascence of German militarism, but by design principally conduced to buttressing US industry.

Similar to the injection of public funds from the New Deal stimulating economic activity, of the torrent of new capital entering Europe 23 percent was apportioned to Britain, 20 percent to France, and the rest divided largely between West Germany and Benelux region, Joseph Stalin denied it to Soviet satellites in Eastern Europe whilst incidentally the British and French funnelled a further percentage from their teutonic neighbour as war reparations (Kunz 1997:169). Unbeknownst to these war-torn beneficiaries, however, the princely sums achieved expansionism for the US, already its GDP accounted for more than half of goods and services worldwide in the immediate aftermath of the war (Lundestad 1986:264), its newfound internationalism thereupon sought to spread the gospels of democracy and capitalism in drawing inspiration from economic power at its disposal the apolitical source of which most obviously entailed export-driven growth. American missions and exports into Europe sped modernization and recovery of the continent via mass consumption which necessitated mass production whereby, in the habituation of the public to an economic truism, consumer spending would not be vilified as profligacy but instead esteemed as critical to industrialization. A bounty of finished and capital goods, therefore, was exported from the US to European peoples and factories.

The Marshall Plan in the sense of a positive feedback loop was, analogous to a feat of magic never betraying the truth of how these funds would necessarily be repatriated, a trade agreement more so than economic assistance whose $13bn invested in Europe was in actuality an investment for American industry. The sustainability of wartime supply the US had attained, handicapped by the precipitous drop in peacetime demand, naturally broached the tenability of this new surplus production, subsequently it was a scaled-up nostrum of Keynesianism that increased aggregate demand in Europe by means of prolific aid abreast of the Bretton Woods system, a currency convertibility mechanism substituting for the gold standard to ensure payment in US dollars, which guaranteed the unhampered dominance of American output and ensconced a market economy freshly indoctrinated with the prototypical Washington Consensus (Milward 1979:330). The policy promised full employment at home, increased exports, and minimized imports, a trinity in the incipience of US strategic trade which in practice exploits international agreements to bolster market positions for American firms at the expense of foreign ones, thus the Marshall Plan emblematized job-creation and welfare-maximization and more prominently a trade agreement for American multinationals.

Europe subsidized by US products largely sourced in its multinationals effectively instituted the beginning of American hegemony whose production surplus thenceforth established a precedent to protect export firms in trade agreements. Had there been no Marshall Plan, however, exacerbated by the risk aversion of and little rescue chance from private lenders whose loans to keep Germany solvent in the wake of WWI still remained in arrears, it would become incumbent on Europeans to be sparring with consumer spending as only this  fallback could amortize their debt, and yet the knock-on effect would imply the reality of restricted imports diminishing the standard of living of an entire continent left vulnerable to the ideology of communism thriving just beyond the Iron Curtain. In terms less abstruse, the chain reaction follows from no Marshall Plan which would reduce European imports so as to conserve money earned from exports for the liquidation of war debt that would then depress welfare and leave Europeans prone to Soviet adventurism. The Marshall Plan consequently checked the communicability of socialism otherwise the most brainless idea ever invented by man.

A new frontier of capitalist investment and market penetration, which could absorb economic surplus overseas, forgathered American firms in Europe as a nonrevolutionary atavism to the early Republic’s expansionist consensus, an age when the theology of mercantilism actuated policy and which in the early twentieth century evolved into corporatism first in alliance with progressivism’s organized labour and later free market businessmen (Williams 1954:14). Exports to postwar Europe including production methods, capital, goods and the like, prompting the miscarriage of any Socialist revolution in Europe, Americanized the continent as a backyard for US firms, and in concert with the European missions to the US for the study of its mass-production, consumerism, and Maddison Avenue advertising, the two outreaches ratcheted up transatlanticism in reversal of liberal leadership that once was less sympathetic to such capitalism (Lillibridge 1965:52). Indeed the French were widely convinced Americans were ‘human robots’ and ‘worshippers of machines’ living in a ‘spiritual vacuum’ (Emmanuel 1958), only to betray how they themselves were so illiterate to the salutary effects of modernization which actualized their proper joie de vivre and bourgeois ways of life despite their maudlin complaints.

The Marshall Plan’s privatization of economic policy de facto ushered corporate liberalism into Beltway politics, thereafter the policy precedence that was pledged to export firms typically of capital-intensive production, by nature disposing them to an Open Door world economy, came to displace progressivism’s darling which at the time was organized labour whose business interests inherent to import-competing firms foresaw less growth than did the rich possibilities of FDI from multinationals (Ferguson 1984:50). It was believed surplus production, if it could be a function of the country’s Manifest Destiny, and portal to economic liberalism’s diffusion, epitomized an opportunity for a new sort of imperialism in an effort to surpass Pax Britannica which, in virtue of the ubiquity of global firms under American ownership, history correctly informs as indeed a prescient thought. Self-serving Samaritanism coloured the dynamic of US suzerainty over Europe, a newly denominated junior partner, so that corporate headquarters in financial clusters of New York, automobile agglomerations in Detroit, and others elsewhere could extract rents from Europe in mercantilist tradition. Though still obdurate, in 1950 France’s Communist party futilely sought to prohibit what was sensationalized as the country’s cocacolonization if only to safeguard domestic wine growing, cider and mineral water, only too soon to find the effort aborted in yielding to market share parity between the soda beverage and claret (Kaiser 1991:107).

Under the yoke of Pax Americana European firms coexisted with American ones. The heyday of the quasi-metropolitan power prevailed for over a generation, the pared down timeframe evidencing how firstly, on the industrialization process itself, although for instance General Motors arrogated market share to itself to the chagrin of Volkswagen and Mercedes-Benz these latter firms inexorably came to fledge into multinationals themselves by virtue of the allure based upon German craftsmanship and engineering, and secondly how integration of Europe’s Steel and Coal Community ultimately  impinged on the mobility of capital for US firms transplanting to the region. Industrialization kindled increased competition and regionalism militated against wholesale establishment of offshored production which revealed the inconsistency of such integration with American expansionism when interstate rapprochement gainsaid incoming FDI. A unified Europe, although in the interest Cold War geopolitics and nation-building, contravened the warm hospitality agreeable to the influx of US subsidiaries, albeit however this modus vivendi between European states may have checked economic imperialism it did not undo the second most important aspect of this phenomenon that, aside from the more pregnant expansion of industry, American firms targeting demographic groups overhauled Europe’s consumer market newly exposed to appurtenances the likes of inter alia  Coca-Cola, Play-Doh, or rock-and-roll all of which appealed to the consumerism of younger generations in clinching sales for posterity’s sake.

Industry expansion in addition to this capture of future consumers indulgent towards high price premiums of American goods together hinged on an unspoken feature of the Marshall Plan which, underwriting American productivity for multinationals, assured growth of capital formation, the precursor to increases in aggregate income. Sharing knowhow enjoined on West Germany by the Marshall Plan, a lesser known legacy of the program, insisted on engineers, technicians, and others of their ilk from the country to concede export of their technologies to the US, a gesture intended as intellectual reparations for the war. This third benefit of the Marshall Plan, its official appellation remembered as Operation Paperclip, in concert with the other two hegemonic perquisites of trouble-free offshored production and new markets, bulwarked American industries to include production of intermediates, capital goods, and processes such as wind tunnels, tape recorders, synthetic fuels and rubber, diesel motors, colour film processing, machine tools, acetylene chemistry, heavy presses, cold extrusion of steel, die-casting equipment, electron microscopes and a litany of other sundries (Gimbel 1990:297). Exploitation of German engineering redounded to a hidden boon to the strategic trade policy of the Marshall Plan which increased trade, investment, markets, and human capital imported from the new protectorate’s wartime economy and fated to either be adopted or reverse engineered to bolster American hegemony.

An inducement for receipt of economic assistance, West Germany acquiesced to President’s Truman executive order 9604 for the Office of Technical Services (OTS) to screen, index, and microfilm technologies which (Gimbel 1990:301), when ferreted out, could be exploited by American firms, the caveat essentially furnished a lead and impetus for the expediency of mass manufacturing in the midst of Cold War escalation for the US economy (Laenderrat 1947:217). The most notable German companies raided included Merck Pharmaceutical, BMW, Bosch, MAN’s commercial vehicles, Krupp, and IG Farber, their pilfered technologies, while each patented legally, were appropriated for US multinationals to vie for European market share leveraging the same technology created by the said companies. A vast swathe of samples, formulas, calculations, custom lathes, milling machines, schematics, and experimentation were confiscated to efface whatever technological gap existed, in lieu of industrial espionage the actions evidenced the currency of the Federal Government’s interference to doctor R&D of foreign firms in privileging its own under the implicit ransom and duress of withholding payments from the Marshall Plan. The genius of this third prong in US strategic trade policy, again as opposed to the disingenuity of conventional wisdom which rhapsodizes the $13bn, won market dominance for American multinationals over domestic offerings in Europe.

The Buy American Act of 1933 limned the recovery and reconstruction of Europe which President Roosevelt signed into law initially as a countercyclical policy to rally growth during the Great Depression. The protectionist and strategic trade philosophy informed postwar Europe, whilst the Federal Government was restricted to intermediates from American manufacturers alone over seventy percent of the Marshall Plan bound European countries to equally import US goods (Baram 1966:271), the spectre of foreign competition infringing on US market share inspirited export firms to codify this clause despite cost-efficient prospects of material procurement from local production. Though price-fixing as racketeering would customarily ensnare the economy, the compulsion to source goods from the US endowed firms a carte blanche to repatriate American funds with impunity, the end product thus often constituted overpriced intermediates. The same pragmatism simultaneously actuated President Truman’s Point Four Program in 1949 (Olden & Phillips 1952:223), handouts to developing countries spurring American exports, thus postwar decolonialism of newly autonomous states unwittingly forsook one empire for another, in reality nation-building and democratization of the world economy provided fodder on a vast scale for American multinationals to prosper when attributed to their export surpluses and FDI pursuant to a profit motive in the interest of private shareholders as opposed to a humanitarian rationale which otherwise would be a disincentive.

The scores of underdeveloped economies offered moneymaking opportunism for transnational companies, and whether in the guise of the Marshall Plan, or the Point Four Plan, these ‘intermestic’ initiatives spuriously veneered as aid assumed the character of trade agreements couched in industrial policy, to be sure European recovery and Third World development mark the genesis of, as forerunners to the Tokyo and Uruguay Rounds of the GATT and WTO, the paternalism in countenancing leviathan firms and how Congress availed itself of strategic policies to featherbed their growth by monopolistic ventures overseas which by extension proved to be a windfall for national income. In the main, these agreements exploited markets not to alleviate poverty of indigent nations but instead to extract concessions in undermining sovereignty for the purpose of economic empire vis-à-vis export markets to absorb surplus production whose positive externalities stabilized the world economy, begot supranational institutions, created pan-European identity, enabled detente, modernized production, ameliorated socioeconomic conditions, and established global peace. The multidimensional sequence of American bridgeheads in diverse markets formerly beset with austerity culminated into a lucrative investment by ultimately increasing purchasing power of the nouveau riche and general consumer whose affinity with premium, luxury, or white goods as in refrigerators and washing machines, and even household items as in cellophane tape bankrolled American multinationals (Kaskeline 1955:63).

Were it not for the pro-growth policies of the Marshall Plan or Point Four Plan, the US economy devoid of a stimulus and legions of new markets which otherwise could not consume in virtue of internally moribund financing would have predictably careened into a recession as anathema to hegemonic stability. The attendant production-policy nexus, more plainly the mutual interests of businessmen and career diplomats, concomitantly informed American internationalism which, pragmatic rather than idealistic when hegemony is indigenous to rapid growth, adduces the firm’s endogenous motives as the sole panacea to the interwar insularity the US erstwhile espoused. Exporting a doctrine universally to the Free World became the vocation of economic hegemony that Jeffersonian democracy, capitalism, and globalization are functions of business whose freedoms eventuate in a rise of national welfare in terms of purchasing power and standard of living and from where any marginal dirigisme should serve only to facilitate market transactions. International trade and FDI, the two most pregnant activities germane to GDP which the Marshall Plan and Point Four Plan established abroad, spurred American hegemony and were mainstays to American statecraft exporting the aforesaid trinity to the benefit of multinationals. However, concealed behind dependency on US goods until the mid 1950s, as economic assistance bridged the dollar gap akin to a springboard for transnational firms, was one last important lynchpin distorting free markets and prolonging the longevity of American mercantilism.

In 1946, the world imported $14.7bn in value of US goods and services, however, hindered by high tariffs, its exports to Americans quantified as $7bn did forsake a dollar gap of $7.7bn which economic assistance squared (Nielsen 1957:14). This strategic trade policy, a canny method by which to defer ending the dollar shortage, redounded to orchestrating a false dependency for Europe in the case of the Marshall Plan. Until 1955, when President Eisenhower propounded the reduction of trade barriers, protectionism sieved an influx of foreign goods and services into the US, yet had free trade polices been operational for America’s 141.3m consumers their spending would have quickly financed European reconstruction devoid of any need for further economic assistance, the desiderata of which obliged Europeans to ‘buy American’. Arguably, an unmitigated elimination of tariffs between the US and Europe might have substituted for the Marshall Plan, yet this scenario would not have been as propitious for American multinationals if European industrialization were financed without market penetration of firms into the continent with all the perquisites Congress enjoyed from doling out reconstruction funds qualified by provisos well disposed to FDI, offshoring, and sharing technical knowhow redolent of Operation Paperclip. Free market economics would have rebuilt Europe in a timely manner without asserting hegemony but economically the US would have gained very little. Hence, strategic trade policies of protectionism compounded the positive externalities of the Marshall Plan and Point Four Program with the corollary of maximizing world dependency on US goods and services until the economy’s global market share and investments were well fixed.

Europe’s seed money and American protectionism conduced to a Hobson’s choice, rely on US succour or else flounder from a flagging economy, the classical narrative adumbrates feigned idealism of postwar enlightenment when in fact contrarianism would show how reducing trade barriers ultimately would have proven more benevolent.1 The quid pro quo, instead of market access in exchange for aid, would have been market access in exchange for market access occasioning capitalism’s organic effect, Adam Smith’s invisible hand of laissez-faire economics, to arouse wealth creation and greater utility without statist interventionism. Though the exalted outcome should not be denied, viz., European integration undeterred by Soviet communism, free trade amongst Western economies would have conspired to anywise avert a politburo West of the Urals though the US in this case would be deprived of asserting dominance and long-lasting peace in Europe through universalization of its ideals and Kantian institution-building. Ultimately, the Marshall Plan and Point Four Program inaugurated a trend whereby multinationals, the surrogate of shareholder interests, and equally a medium for Washington’s foreign policy as well as a benchmark for modern industrialism, could offshore to increase growth rates and profit margins as sales in Europe by ExxonMobil increased from 35 to 65 percent, Ford manufactured the Consul and Taunus models on the mainland, Kaiser cobbled together Jeeps in Argentina and Brazil, Del Monte opened canneries in Italy, Campbell Soup built a plant in Britain as greenfield investment, or Procter & Gamble organized new transatlantic operations (Aitken 1962:104).

Corporate giantism of these firms, their prodigious expansion, and dynamic entrepreneurialism engineering social change wrought economic imperialism propagated around the globe. Economist Joseph Schumpeter enlarged upon such  size of firms with signature iconoclasm, bigness becomes a virtue in particular for offshoring business, their stores of capital leads to the affordability of leading innovation and latitude to expend vast outlays in spite of how grandiose the enterprise may be. Whereas economist John Maynard Keynes subscribed to government directing investment, Joseph Schumpeter believed entrepreneurs ought to do so, while Keynesianism animated the New Deal, Schumpeterianism informed postwar hegemony with record income for the US. The oligopoly of American firms over world market share, in large measure predicated on Congress’ nation-building efforts in underdeveloped economies creating investment opportunities which the Marshall Plan and Point Four Program bespoke, came to fruition mainly by Schumpeterian innovation rationalizing value chains as well exploiting use of technology and R&D and thus running athwart dirigisme espoused by European economies that stifled growth. At the frontier of economic performance, industrial production issuing from physical (i.e., size), ownership (i.e., corporate, joint stock, limited liability, etc.), organizational (i.e., multidivisional, transnational, etc.), and governance (i.e., hierarchy) structures of American firms reshaped foreign policy dispensing with interwar isolationism in the interest of profit-making (Djelic 2001:4-7).

Under the yoke of the Truman Doctrine, the foreign policy inducing seed capital from the Marshall Plan and Point Four Program, transnational firms proliferated with immunity behind a shroud of legitimacy ordained by POTUS in a bid to rebuild the world economy. Seven years passed until production levels reached prewar parity after WWI in Europe, its rehabilitation during the same interval following WWII exceeded such antebellum output by 41 percent, and American transnational firms were the ones to monopolize this meteoric modernization (Williams 1952:594). At length a paradigm shift informed US wealth-creation, as a switch to FDI from intensive manufacturing, in the interim between 1948 and 1957 European output per capita increased by 40 percent, the lackadaisical growth of American production scarcely reached 20 percent obliquely signalling a change in economic strategy (Balliet 1962:22). The synergy of prime markets abroad together with the ascendency of household income and wages in these places foreseeably grew markets with greater alacrity than in the US in virtue of how purchasing power of virgin consumerism there incentivized American investment with commensurate growth rates which revivified the industry life cycle between pioneering, growth, mature, stabilization, and declining phases as well as reversed production inertia beleaguered by the law of diminishing returns.

Insofar as the Marshall Plan stimulated European recovery, this foreign aid came to simulate trade together with industrial policies redounding to what was essentially a roundabout way to subsidize export multinationals with repatriated liquidity from transatlantic buyers. The prevalent hagiography of US postwar internationalism mischaracterizes this history when in no way was the impetus to rebuild Europe for the sake of altruism and indeed only three alternatives existed, a) a return to isolationism thus sloughing off Europe that would push the continent into the bosom of the Soviet Union, b) liberalize trade devoid of any geopolitical assurances of militating against another outbreak of bloodshed on a continent whose biography recounts centuries of war, or c) buy the fealty through foreign aid of economies which then would genuflect to multilateral institutions the likes of GATT, IMF, or World Bank and also position American firms overseas to consolidate this newfound hegemony. Until eventually approaching the end of the Marshall Plan’s ‘tied procurement’ to US goods did a torrent of FDI figure prominently in the market rationality of lawmakers and businessmen alike in spite of the chorus of alarmism scoffing at such expatriation of capital (Matthews 1964:457). It is agreed from 1951 to 1960 American firms did elect to invest $12.2bn outside of the country, however, returns of more than $21.3bn as dividends, interest, and profit were repatriated  in that timeframe (Balliet 1962:27), the epiphenomenon of such riches could be  chalked up to the US Treasury’s initial investments of foreign aid which in effect laid the groundwork for the later influx of FDI into Europe that in turn fastened the continent to the US in thwarting the geopolitical spectre of the Kremlin’s fifth column actions that already had proxied its influence in the coup d’état of its satellite Czechoslovakia, and in the Korean War (Thorp 1953:407).

The disbursement of the Marshall Plan, then monetized at 2 percent per annum of US GNP (Mack 1986:11), produced a pro-American Europe whose transfer of resources jumpstarted the continent’s recovery for transnational firms which, commanding technological leads by leaps and bounds, naturally sponsored the doctrine of free trade with the object of globalizing value chains. The Marshall Plan’s pump-priming function, easing Europe’s liquidity problem abreast of stabilizing economies therein, induced American firms to leapfrog over the continent’s tariff barriers discriminating against US goods, the investment capital outflows after 1955 thus sought to occasion branch plant production (Mack 1986:12). Outpouring of private capital did in fact deindustrialize certain sectors, by 1959 the US imported more consumer goods than it exported, by 1968 the country imported more vehicles than it exported cresting in the country’s first trade deficit of the 20th century by 1971. However, in the esprit de corps of free market economists like its patriarch Adam Smith, antipodal to conventional wisdom this dollar gap by no means constitutes an anathema to economic growth, pursuant to this logic exporting less volumes in exchange for the maximum total of imports 1) raises the standard of living, and 2) is a token of economic advancement as national income generated from capital-intensive exports pays for labour-intensive imports. Maximizing inexpensive imports and minimizing costly exports thus increases the standard of living.

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1 A 1952 editorial published in Business Week propounded a ‘Trade, not Aid’ thesis, its premise contending how reductions to US tariffs conducive to rising imports of competitive products from Europe would enable the continent to gird itself more effectively against economic downturns and likewise precipitate economic development. The president Joseph Sprang Jr. (1952) of the American firm Gillette, a manufacturer of safety razors, later propositioned if Congress heeded such policy reform, $5bn of the Marshall Plan would be economized for every tranche of $600m in cuts to tariffs to which he further expounded, ‘Some of us are going to have to give at various points along the line…What we are doing now in our foreign aid programs is taxing ourselves for the privilege of excluding foreign merchandise.’ See BUSINESS WEEK. 1952. Trade, Not Aid. December 13, 172; SPRANG, J. 1952. More Trade - Less Aid! Commercial and Financial Chronicle, 15, 32.