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longliveblackness · 2 years ago

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In the 19th Century, US banks and southern states would sell securities that helped fund the expansion of slave run plantations. To balance the risk that came with forcibly bringing humans from Africa to America insurance policies were purchased.

These policies protected against the risk of a boat sinking, and the risks of losing individual slaves once they made it to America.

Some of the largest insurance firms in the US - New York Life, AIG and Aetna - sold policies that insured slave owners would be compensated if the slaves they owned were injured or killed.

American banks accepted their deposits and counted enslaved people as assets when assessing a person's wealth. In recent years, US banks have made public apologies for the role they played in slavery.

In 2005, JP Morgan Chase, currently the biggest bank in the US, admitted that two of its subsidiaries - Citizens' Bank and Canal Bank in Louisiana - accepted enslaved people as collateral for loans. If plantation owners defaulted on loan payment the banks took ownership of these slaves.

JP Morgan was not alone. The predecessors that made up Citibank, Bank of America and Wells Fargo are among a list of well-known US financial firms that benefited from the save trade.

"Slavery was an overwhelmingly important fact of the American economy," explains Sven Beckert, Laird Bell Professor of American History at Harvard University.

In the 1830s, Southern slaveowners wanted to import capital into their states so they could buy more slaves. They came up with a new, two-part idea: mortgaging slaves; and then turning the mortgages into bonds that could be marketed all over the world.First, American planters organized new banks, usually in new states like Mississippi and Louisiana. Drawing up lists of slaves for collateral, the planters then mortgaged them to the banks they had created, enabling themselves to buy additional slaves to expand cotton production. To provide capital for those loans, the banks sold bonds to investors from around the globe - London, New York, Amsterdam, Paris.

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En el siglo XIX, los bancos estadounidenses y los estados del sur vendían seguros para ayudar a expandir las plantaciones de esclavos. Para balancear el riesgo de traer humanos forzadamente de África a América, se compraban pólizas de seguro.

Las pólizas cubrían la posibilidad de que los barcos se hundieran y el riesgo de perder esclavos individualmente una vez que llegaran a América.

Algunas de las compañías de seguro más grandes de los Estados Unidos; New York Life, AIG y Aetna, vendían pólizas a los dueños de esclavos y les aseguraban que serían compensados si los esclavos que les pertenecían se lastimaban o morían.

Los bancos americanos aceptaban los depósitos y contaban a las personas esclavizadas como propiedad cuando se encontraban evaluando la riqueza de una persona. En los años recientes, bancos estadounidenses han emitido disculpas públicas por el rol que jugaron durante la esclavitud.

En el 2005, JP Morgan Chase, actualmente uno de los bancos más grandes de los Estados Unidos, admitió que dos de sus compañías subsidiarias, Citizens' Bank and Canal Bank ubicados en Louisiana, aceptaron a esclavos como garantía para préstamos. Si los propietarios de las plantaciones incumplían con los pagos de los préstamos, los bancos se apropiaban de estos esclavos.

JP Morgan no estaba solo. Los antecesores que formaron a Citibank, Bank of America y Wells Fargo se encuentran en la lista de empresas financieras que se beneficiaron de la trata de esclavos.

"La esclavitud fue un hecho abrumadoramente importante para la economía estadounidense", explica Sven Beckert, profesor Laird Bell de Historia Estadounidense en la Universidad de Harvard.

En 1830, los dueños de esclavos ubicados en el sur querían importar más capital a sus estados para poder comprar más esclavos. Se les ocurrió una nueva idea que consistía de dos partes: hipotecar esclavos; y luego convertir las hipotecas en bonos que podrían comercializarse en todo el mundo. Primero, los plantadores estadounidenses organizaron nuevos bancos, generalmente en nuevos estados como Mississippi y Louisiana. Elaborando listas de esclavos como garantía, los plantadores los hipotecaron a los bancos que habían creado, lo que les permitió comprar esclavos adicionales para expandir la producción de algodón. Para proporcionar capital para esos préstamos, los bancos vendieron bonos a inversionistas de todo el mundo: Londres, Nueva York, Ámsterdam, París.

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noticiassincensura · 25 days ago

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Milei Achieves the Impossible: Opens Markets to Argentina, Companies Rush to Issue Dollar Bonds

Several companies are taking advantage of the ‘financial miracle’ to issue debt Milei expects this to significantly increase investment in Argentina The risk premium has fallen to levels not seen since August 2019

7:47 PM — 10/16/2024

Moses parted the Red Sea, says the Bible. Javier Milei has opened the markets for Argentine companies, say the facts. Argentina’s largest companies are rushing to the market to issue dollar-denominated debt, taking advantage of falling debt yields and the plunge in the risk premium — a sign that President Javier Milei’s shock therapy is beginning to restore investor confidence in the economy. Not only private companies, but also the Province of Buenos Aires has managed to return to the markets with great success.

The drastic budget adjustments that have led the country to record several fiscal surpluses and the promise to maintain this fiscal anchor at all costs are gradually restoring confidence in Argentine companies. The risk premium (country risk in Argentina) has dropped to 1,044 points, a level not seen since August 2019. This positive performance of the country’s sovereign debt is spreading to companies, which are taking advantage of the moment to refinance debt and issue new bonds — a capital that will presumably be used to invest and generate more economic activity and future production capacity. The real economy continues to suffer significantly from these policies that reduce growth today but, if successful, will bring greater prosperity in economic terms tomorrow.

Banco de Galicia and YPF A good example of these companies securing dollar financing is Banco de Galicia y Buenos Aires, the country’s largest private credit institution, which sold $325 million in bonds maturing in 2028 abroad with a yield of 7.875%. Meanwhile, YPF Luz, the electric subsidiary of state-owned oil company YPF, issued $420 million in eight-year bonds with a yield of 8.2%. The state-owned Banco de la Nación reported plans to return to the international capital markets for the first time in about 30 years.

Corporate debt yields fall These sales are the latest in a series of deals that have raised just over $4 billion in dollar debt, the largest amount since 2017, according to data compiled by Bloomberg. Although the prospect of monetary easing in the United States has boosted demand for high-yield bonds, Milei’s determination to balance the budget, reverse the outflow of dollars from the country, and end inflation has played a significant role in the recovery, according to investors and as reported by Bloomberg.

“Investors are seeking returns from issuers that could benefit from positive catalysts such as Argentina’s ambitious shift towards more orthodox economic policies,” says Alexander Robey, an emerging market debt portfolio manager at Allianz Global Investors GmbH in London.

Banco de Galicia, which raised funds to pay for the acquisition of HSBC’s Argentine subsidiary, received offers that quadrupled the amount offered, according to sources with direct knowledge who asked not to be identified because the transaction was private. In response to the increased demand, Vista Energy has stated that it would issue up to $150 million in bonds, while the Albanesi Group plans to refinance its dollar debt maturing in the next three years.

Optimism Takes Over Argentine Finance The growing optimism about the state of the Argentine economy has brought the spread between its sovereign debt and its U.S. counterparts to 1,044 basis points, according to a JP Morgan index, the lowest level since August 2020. Meanwhile, the yield on around 80% of Argentine international corporate bonds with at least $100 million in circulation has fallen below 10%. In August 2023, only 27% of the bonds had a single-digit yield, according to Francisco Schumacher, a corporate strategist at BancTrust.

The decline in yields has paved the way for the City of Buenos Aires, one of the country’s top-rated issuers, to sell up to $600 million in debt between November and March. “We’re revving up the engines,” says Abel Fernández Semhan, the city’s deputy finance secretary. “We are going through the formal process to select a bookrunner and monitoring the spread compression for Argentine regional bonds.”

“Investment Fury” Argentine President Javier Milei highlighted on Tuesday the drop in Argentina’s ‘country risk’ index to levels not seen since 2019 and predicted an “investment fury” in the South American country. “It’s the lowest ‘country risk’ level in the last five years,” the head of state noted while speaking at monetary policy meetings organized by the Central Bank of Argentina.

The indicator, developed by JP Morgan to measure the risk of investing in Argentine assets, fell to 1,044 basis points on Tuesday, its lowest level since August 2019. Milei attributed this decline to his ‘zero deficit’ policy, which entails “not taking on new debt” and making the country more “solvent,” he said.

“The continuous drop in ‘country risk’ will mean lower discount rates. Look at how much Argentine financial assets have risen. An investment fury is coming,” he said. He maintained that the investment appetite would not be limited to Argentine financial assets but would also include multimillion-dollar investments in real economy projects thanks to the new regime of incentives for large investments (RIGI).

“Over $50 billion in investments have been announced under RIGI,” he stated. Milei affirmed that “there is a recovery in demand” because for the past five months, “there has been a recovery in real wages.” After contracting 1.6% in 2023, Argentina’s economy has accumulated a 3.1% decline in the first seven months of this year, severely affected by Milei’s adjustment policies.

Looking ahead to 2025, the budget proposal drafted by the government predicts a vigorous economic recovery of 5%, although private consultants surveyed monthly by the Central Bank forecast a more moderate growth of 3.5%.

#news #argentina #economy

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jorgesoto22 · 5 months ago

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Blog Entry #7

History of the Central Bank of Costa Rica:

Before the creation of the Central Bank of Costa Rica, there was the Departamente Emisor del Banco Nacional de Costa Rica. This department was in charge of the country's monetary policy and was the only one authorized to issue currency. Due to the growth of economic activity in Costa Rica, the need arose to create a Central Bank with greater autonomy. For this reason, Law 1130 was enacted in 1950, which established the Central Bank of Costa Rica as an independent body and governing body of the country's economic, monetary and credit policy.

Role of the Central Bank of Costa Rica

The main functions of the Central Bank of Costa Rica are:

• Maintaining the external value and conversion of the national currency.

• Custody and administration of the nation's International Monetary Reserves.

• Defining and managing monetary and exchange rate policy.

• Promoting favorable conditions for the strengthening, liquidity, solvency and proper functioning of the National Financial System.

Policies implemented:

The Central Bank aims to have an annual inflation of 3%. To achieve low and stable inflation, the Central Bank uses the monetary policy rate, which is the interest rate at which the bank lends to other banks. Having low and stable inflation is beneficial for investors because returns will not be affected by changes in prices. This encourages investment and economic development. In addition, it has a positive effect on consumers because it encourages private savings and they do not lose purchasing power.

In recent years, the Central Bank in the area of the exchange rate, opted to have a managed floating exchange rate. Where the exchange rate is determined by supply and demand. This has had positive effects on consumers. Since the exchange rate has been low, this has helped people who have debts in dollars since they require fewer colones to pay the debt. In addition, consumers can increase their imports since the colon has more purchasing power abroad. However, it has affected the export sector because national products are becoming more expensive on the world market, reducing exports.

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eu-financial-advisor-news · 10 months ago

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A Comprehensive Guide to the Best Portugal Mortgage Rates for Expats in 2024

Portugal, with its stunning landscapes, rich culture and welcoming atmosphere, has become a sought-after destination for expatriates looking to call it home. As the expat community grows, so does the demand for real estate, leading many to explore the intricacies of the Portuguese mortgage market. Here we will take a close look at the current landscape of Portugal mortgage rates in 2024 and attempt to identify ways to access the best mortgage rates in Portugal.

Portugal Mortgage Rates Comparison 2024

Understanding the prevailing mortgage rates is crucial for anyone considering homeownership in Portugal. As of 2024, the Portuguese mortgage market continues to offer competitive rates, making it an opportune time for both locals and expatriates to invest in real estate. To aid in decision-making, let's conduct a detailed comparison of Portugal mortgage rates in 2024.

To kickstart any mortgage rate comparison, it's essential to explore offerings from major lenders in Portugal. Institutions such as Millennium bcp, Caixa Geral de Depósitos and Novo Banco often feature prominently in the market. Researching their current rates, terms and conditions can provide valuable insights into the overall landscape.

Fixed vs. Variable Rates

Mortgage seekers must also consider the choice between fixed and variable interest rates. Fixed rates provide stability and predictability, while variable rates may offer lower initial payments but come with the risk of future fluctuations. Examining the pros and cons of each option in the context of your financial goals is crucial.

Loan-to-Value (LTV) Ratios

LTV ratios play a significant role in determining mortgage rates. The higher the LTV, the more risk for the lender, potentially resulting in higher interest rates. Understanding the acceptable LTV ratios from different lenders can aid in making an informed decision.

Additional Fees and Charges

Beyond interest rates, borrowers should be aware of additional fees and charges associated with obtaining a mortgage in Portugal. These may include appraisal fees, notary fees and registration fees. Factoring in these costs will give a more accurate picture of the overall financial commitment.

Lowest Mortgage Rates for Expats in Portugal

Expatriates seeking the lowest mortgage rates in Portugal should always navigate the market with a strategic approach. Demonstrating financial stability is crucial for expatriates looking to secure the lowest mortgage rates. Lenders often prefer borrowers with a steady income and a good credit history, so providing proof of employment, income stability and a solid credit score can enhance your eligibility for competitive rates.

Local Partnerships and Mortgage Brokers

Engaging with local mortgage brokers or establishing partnerships with banks that specialize in expatriate services can be advantageous. These entities often have tailored mortgage products for expats, including competitive interest rates and favorable terms. Expatriates should also consider the currency in which their mortgage is denominated. Opting for a mortgage in euros may offer more stability, as it aligns with the local currency and reduces exposure to exchange rate fluctuations.

When dealing with banks in Portugal, negotiation is a powerful tool. Expatriates should not hesitate to negotiate terms, including interest rates and fees, to ensure they are getting the best possible deal. That said, navigating the mortgage process in a foreign country can be daunting, but understanding the steps involved can ease the journey.

Here is a step-by-step guide to the mortgage process for expatriates in Portugal:

Preparation, Documentation & Closing the Deal

Begin by preparing all necessary documentation, including proof of identity, proof of income, employment contracts, and bank statements. Having these documents in order will expedite the application process.

Once you identify a property, the lender will conduct a thorough appraisal to assess its value. This step is crucial in determining the loan amount and interest rates. You should then engage legal professionals to review the mortgage contract and ensure you fully understand the terms and conditions. This step is essential to protect your interests and avoid any legal complications in the future.

After finalising the terms and conditions, sign the mortgage contract, pay any applicable fees and complete the necessary paperwork to officially close the deal.

How to Find the Best Mortgage Rates in Portugal

Securing the best mortgage rates in Portugal requires a proactive and informed approach. Consider the following strategies to enhance your chances of finding the most favorable terms:

Online Comparison Tools - Utilize online mortgage comparison tools to quickly and efficiently compare rates from various lenders. These tools often provide real-time information, enabling you to make informed decisions.

Consult Local Real Estate Professionals - Local real estate professionals, including agents and brokers, can offer valuable insights into the current market conditions and connect you with reputable lenders. Their expertise can be instrumental in finding the best mortgage rates tailored to your needs.

Attend Expat Seminars and Workshops - Many expat-focused events, seminars, and workshops in Portugal cover topics related to real estate and mortgages. Attend these gatherings to network with experts and fellow expatriates, gaining valuable advice and recommendations.

Stay Informed About Market Trends - Regularly monitor market trends, interest rate movements, and policy changes that may impact mortgage rates in Portugal. Staying informed allows you to time your mortgage application for optimal rates.

Build Relationships with Local Banks - Building relationships with local banks can provide access to exclusive mortgage products and favorable rates. Establishing a connection with bank representatives can also facilitate smoother communication throughout the application process.

As Portugal continues to attract expatriates seeking a blend of cultural richness and natural beauty, navigating the mortgage market becomes increasingly important. By staying informed about Portugal mortgage rates in 2024, exploring the lowest rates for expats, understanding the mortgage process, and adopting effective strategies for finding the best rates, expatriates can confidently embark on their homeownership journey in this enchanting European destination.

#portugalmortgagerates #mortgages #portugal #mortgagebrokerportugal #algarve #expat

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marketsizereports · 11 months ago

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Comparative Analysis: Major Players in the Argentine General Insurance Market

The Argentine general insurance market is characterized by the presence of several major players, each contributing to the diverse landscape of insurance products and services.

For more insights on Argentina general insurance market forecast, download a free report sample

Here is a comparative analysis of some of the key players in the Argentine general insurance sector:

Grupo Sancor Seguros:

Overview: Grupo Sancor Seguros is a prominent player in the Argentine insurance market, offering a wide range of general insurance products. It has a strong presence in both personal and commercial lines of insurance.

Strengths:

Extensive Network: Grupo Sancor Seguros has a vast distribution network, including agents and brokers, allowing for widespread market reach.

Diverse Product Portfolio: The company provides diverse insurance solutions, including motor, property, liability, and agricultural insurance.

Regional Influence: As one of the largest insurers in Argentina, Grupo Sancor Seguros has a significant regional influence.

Mapfre Argentina:

Overview: Mapfre is a global insurance company with a substantial presence in the Argentine market. It offers a comprehensive range of insurance products, including general insurance, life insurance, and health insurance.

Strengths:

Global Expertise: Mapfre brings global expertise and a strong financial position to the Argentine market, instilling confidence among policyholders.

Technological Innovation: The company invests in technological innovation, leveraging digital channels for customer engagement and enhancing operational efficiency.

Customer-Centric Approach: Mapfre emphasizes a customer-centric approach, focusing on service quality and responsiveness.

Allianz Argentina:

Overview: Allianz is a leading global insurer with a significant presence in the Argentine insurance market. It caters to a diverse clientele, offering a broad spectrum of insurance products and services.

Strengths:

Global Network: Allianz's global network contributes to its ability to offer comprehensive insurance solutions tailored to the Argentine market.

Risk Management Expertise: The company's risk management expertise is valued by corporate clients seeking robust insurance coverage.

Financial Stability: Allianz's financial strength enhances its capacity to underwrite risks and provide secure coverage.

La Caja Seguros:

Overview: La Caja Seguros is a well-established player in the Argentine insurance sector, known for its focus on customer-centric offerings. It provides various general insurance products to individuals and businesses.

Strengths:

Customer Service: La Caja Seguros places a strong emphasis on customer service, aiming to provide personalized solutions and build long-term relationships.

Community Engagement: The company actively engages with local communities through social responsibility initiatives, contributing to its positive reputation.

Tailored Solutions: La Caja Seguros is recognized for its ability to tailor insurance solutions to the specific needs of different customer segments.

RSA Seguros Argentina:

Overview: RSA Seguros is part of the global RSA Insurance Group, with a notable presence in the Argentine insurance market. It offers a range of general insurance products, including property, casualty, and specialty lines.

Strengths:

Specialized Coverage: RSA Seguros provides specialized coverage for complex risks, attracting corporate clients with unique insurance needs.

Global Resources: Being part of a global insurance group, RSA Seguros can leverage international resources and expertise.

Risk Management Solutions: The company is recognized for its focus on risk management solutions, particularly for businesses facing diverse and challenging risks.

Provincia Seguros:

Overview: Provincia Seguros is a key player in the Argentine insurance market, affiliated with Banco Provincia. It offers a variety of insurance products, serving individuals, businesses, and the agricultural sector.

Strengths:

Bancassurance Integration: Provincia Seguros benefits from its affiliation with Banco Provincia, facilitating bancassurance distribution channels.

Agricultural Expertise: The company has a strong presence in agricultural insurance, providing coverage for risks associated with farming activities.

Regional Presence: Provincia Seguros has a notable regional presence, catering to the insurance needs of diverse communities.

In conclusion, the Argentine general insurance market features a competitive landscape with major players bringing diverse strengths and offerings. Each insurance company has its unique strengths, whether it be a global presence, a focus on customer service, specialized coverage, or regional influence. Understanding these key players is crucial for consumers, businesses, and industry stakeholders seeking tailored insurance solutions in the Argentine market.

#Argentine general insurance market

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earaercircular · 1 year ago

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This is how blue finance works in Latin America and the Caribbean

Climate change is hitting the region's seas. Blue finance can be a shield to protect them

A combination of climate change, overfishing and pollution is bringing the planet's vibrant oceans to the brink of collapse. The pain inflicted to the oceans by climate change is especially intense in Latin America and the Caribbean, where many economies and the livelihoods of millions of people are closely linked to the sea.

The sea represents 60% of the territory in 22 countries in the region, with a coast that extends for more than 70,000 km. In Latin America alone, 25% of the population lives in coastal areas, while almost 100% do so in the Caribbean.

The looming crisis facing the oceans will be a key point in the COP28 discussions taking place at the end of November in Dubai, where world leaders will seek to deploy an arsenal of initiatives to confront the challenge of climate change. One of the pillars of these efforts will likely be a nascent set of financial tools, including blue bonds and blue loans[1], which have already taken their first steps in the region and contain enormous potential in the battle against climate change.

These instruments raise funds for water-related projects, such as preserving access to clean water, wastewater treatment plants, plastic recycling, restoration of marine ecosystems, sustainable shipping, eco-tourism and offshore renewable energy.

Similarly, investments in sustainable salmon production in Chile represent an investment potential of $5 billion and could help increase sector income, boost exports and support local jobs, while preserving natural resources.

Some countries are already paving the way for the development of blue finance in the region. This is, for example, Ecuador, where Banco Internacional became the first bank in the region in 2022 to issue blue bonds. The issue, which had the support of the International Finance Corporation (IFC)[2], could be a benchmark in a country that is home to the largest small-scale artisanal fishing fleet in the southeastern Pacific Ocean and which also has enormous growth potential in the blue economy. The Ecuadorian fishing sector contributes around 1.5% of the country's Gross Domestic Product and 13% of its non-oil exports, and employs 108,000 people.

Since 2020, IFC has provided more than $1.3 billion in loans and blue bonds to financial institutions and private sector companies. In Colombia, one of the five most diverse nations on the planet, BBVA[3] became, with the support of IFC, the first financial entity in the country to issue blue bonds. This is a first tranche for 50 million dollars destined to finance projects for the construction of water and sewage treatment plants, preservation of the oceans and protection of lakes, moors and mangroves.

In the middle of last year, IFC granted a loan of $150 million to the Companhia de Saneamento Básico do Estado de São Paulo (SABESP)[4], one of the largest water and sanitation companies in the world. The impact of the loan is huge, as it will be used to finance investments focused on improving water quality and expanding wastewater collection and treatment in the poorest neighbourhoods of São Paulo.

Despite these cases, there are still many tasks to be accomplished for blue finance to take root in the region. It is key, for example, to develop duly defined taxonomies, certifications and standards so that blue finance becomes tools that meet its impact expectations. The Blue Finance Guidelines[5], a document developed by IFC that identifies eligibility criteria for blue projects, seeks precisely to translate the general principles of blue economy financing into guidelines for blue bond issuances and blue loans.

This story is not only an opportunity for growth, but also a commitment to the preservation of our environment. Investing in the blue economy, supported by strong financial institutions and regulations, can make a difference in preserving our oceans and fighting climate change.

According to an estimate by the Organization for Economic Cooperation and Development (OECD), the blue economy represents about 2.5% of global GDP. Likewise, its scope can provide a substantial change in problems such as the scarcity of fresh water or the use of renewable energy, thereby promoting a better quality of life for people who live linked to the sea.

Today, the blue economy has already confirmed its potential by generating palpable benefits in some cases such as the decarbonization of maritime transport in Brazil, support for sustainable tourism in Chile, the protection of marine biodiversity in the Eastern Caribbean and the Galapagos Islands, the restoration coralline in Belize and the preservation of species in the Mar del Plata in Argentina, to mention a few.

There is no sustainable horizon without private innovation

Efforts to combat climate change will not succeed without massive increases in private capital to developing economies, which account for more than 60% of global decarbonization investment needs. According to its annual report[6] (Building a Better Future), IFC committed a record global amount of $14.4 billion in climate finance by 2023. Starting July 1, 2023, 85% of all new IFC investments will be consistent with the goals of the Paris Agreement, increasing to 100% on July 1, 2025, meaning it will include climate mitigation and adaptation. climate change in all investment decisions. Mere financing is not enough: innovation also plays a fundamental role, especially in protecting the planet's carbon reserves. In the field of blue finance, for example, IFC published a study[7] this year that detects opportunities to finance projects that contribute to safeguarding the carbon stored in the world's coastal ecosystems. In Latin America and the Caribbean, the safeguarding of so-called blue carbon - that which is stored in the form of biomass and sediments in coastal ecosystems - will be one of the main areas to explore in terms of blue finance in the years to come.

Source

Grupo Banco Mundial, Así funcionan las finanzas azules en América Latina y el Caribe, in:El Pais, 16-11-2023; https://elpais.com/america/termometro-social/2023-11-16/asi-funcionan-las-finanzas-azules-en-america-latina-y-el-caribe.html

[1] Blue bonds are debt issues that are intended to preserve and protect the oceans and their ecosystems. They seek, through the mobilization of public and private capital, to promote projects that have a favourable impact on the achievement of the Sustainable Development Goals (SDG) and the blue economy. https://www.bbva.com/es/sostenibilidad/que-son-los-bonos-azules-y-por-que-son-importantes/

[2] The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States.

[3] Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, Portugal, Mexico, South America, Turkey, Italy and Romania

[4] Sabesp is a Brazilian water and waste management company owned by the state of São Paulo. It provides water and sewage services to residential, commercial and industrial users in São Paulo and in 363 of the 645 municipalities in São Paulo State, typically under 30-year concession contracts. It provides water to 26.7 million customers, or 60% of the population of the state. It is the largest water and waste management company in Latin América. It provides basic sanitation services, which include all phases (abstraction, treatment, processing, distribution) and the collection, treatment and reuse of sewage. The São Paulo Metropolitan Region and the Regional Systems accounted for 74.5% and 25.5% of the sales and services rendered during the year ended December 31, 2004 respectively. Sabesp also supplies water on a bulk basis to municipalities in the São Paulo Metropolitan Area, in which it does not operate water systems to local operators.

[5] Blue Finance is an emerging area in Climate Finance with increased interest from investors, financial institutions, and issuers globally. It offers tremendous opportunities and helps address pressing challenges by contributing to economic growth, improved livelihood, and the health of marine ecosystems. The ocean economy is expected to double to $3 trillion by 2030, employing 40 million people, as compared to 2010. Innovative financing solutions are key to enhancing ocean and coastal preservation and increasing clean water resources, and Blue Finance has a huge potential to help realize these goals. This document identifies eligible blue project categories to guide IFC’s investments to support the blue economy, in line with the Green Bond Principles and Green Loan Principles. The market has been seeking guidance on project eligibility criteria, translating general Blue Economy Financing Principles, such as the Sustainable Blue Economy Principles and the Sustainable Ocean Principles, towards guidelines for blue bond issuances and blue lending. https://www.ifc.org/en/insights-reports/2022/guidelines-for-blue-finance

[6] In FY23, IFC committed a record $14.4 billion in climate finance, mobilizing $6.8 billion of additional capital alongside our own investment of $7.6 billion to help client countries address the climate crisis. This represented a record 46 percent of the total of long[6]term investments for our own account. Our work accelerates an inclusive transition by catalysing green growth, supporting private companies to decarbonize and manage risks, and supports societies adapting to a warmer planet. As a result, we help create markets and jobs so that countries continue to reduce poverty and improve living standards while increasing resilience and shifting to a low-carbon world. https://www.ifc.org/en/insights-reports/annual-report/download

[7] Deep Blue: Opportunities for Blue Carbon Finance in Coastal Ecosystems. https://www.ifc.org/en/insights-reports/2023/blue-carbon-finance-in-coastal-ecosystems

#blue finance #blue bonds

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ailtrahq · 1 year ago

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XRP (XRP), the cryptocurrency associated with Ripple, experienced a noteworthy surge in price earlier this month, buoyed by a double dose of positive developments. In particular, federal judge Analisa Torres’ rejection of the SEC’s appeal reinforced her earlier ruling that Ripple’s sale of XRP didn’t violate securities laws. Adding to the optimism, Ripple recently secured a full operational license in Singapore. Although XRP has since retreated to the $0.50 mark, fresh positivity is again on the horizon. Notably, it appears that cryptocurrency is emerging as a favored choice for cross-border payments and settlements in Mexico, potentially rekindling investor enthusiasm. What happened? According to a document on Banco de México’s official website, the central bank is planning to utilize one of Ripple’s liquidity solutions, a pivotal bridge between the US dollar (USD) and the Mexican peso (MXN). Specifically, the document mentions xRapid – a Ripple product that uses XRP as a “bridge asset” that businesses and financial institutions can leverage as a bridge transfer between two different fiat currencies. In this case, Mexico’s central bank is looking to utilize xRapid as a bridge mechanism between the USD and MXN. “xRapid payments are fully settled in two minutes or less and reduce costs by 40-70%. This near-instant settlement is in contrast to cross-border payments in the traditional system that take three-to-five days to settle.” – Banco de México wrote in the document. What does this mean for XRP? Naturally, Banco de México’s adoption of xRapid and its plan to use XRP as a bridge asset represents a major milestone for the cryptocurrency. For years, Ripple has been aggressively promoting the scalability, speed, and low cost of XRP to global financial institutions. With Mexico’s central bank joining, XRP continues to prove its appeal as an asset with multiple use cases, beyond just cross-border transactions. As more banks and financial institutions recognize XRP’s potential, the crypto token is a step closer to mainstream adoption. If such developments continue without significant regulatory hurdles, the growing adoption of XRP means heightened institutional interest, potentially exerting substantial influence on the price of the token.

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nklkhangngo99 · 1 year ago

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Brazilian Real (BRL): Meaning, Economy, Conversion Example

What Is the Brazilian Real (BRL)?

The Brazilian Real (BRL) is the official currency of Brazil, which is the largest country in South America. It has been the country's official currency since 1994, when it replaced the Cruzeiro Real as part of Brazil's economic stabilization plan. The symbol for the Brazilian Real is R$ and its ISO currency code is BRL.

The Real is further subdivided into 100 smaller units called centavos. Coins are available in denominations of 1, 5, 10, 25, and 50 centavos, as well as 1 Real. Banknotes are commonly found in denominations of 2, 5, 10, 20, 50, and 100 Reais.

As with any other currency, the Brazilian Real's value fluctuates in the foreign exchange market based on supply and demand dynamics, economic indicators, and geopolitical events. It plays a vital role in Brazil's economy, being used for everyday transactions, trade, and as a store of value.

Understanding the Brazilian Real (BRL)

Certainly, understanding the Brazilian Real (BRL) involves grasping its significance in Brazil's economy, its history, and the factors influencing its value. Let's delve deeper into these aspects:

**1. ** Economic Significance:

Domestic Use: The Brazilian Real is the official currency of Brazil, used in everyday transactions, payments, and investments within the country.

International Trade: Brazil is a major global exporter of agricultural products, minerals, and manufactured goods. The Real is used in international trade transactions.

**2. ** History:

The Real was introduced in 1994, replacing the older currency, the Cruzeiro Real, as part of Brazil's economic stabilization plan.

The introduction of the Real aimed to curb hyperinflation, providing stability to the country's economy.

**3. ** Value Determinants:

Inflation: Brazil's central bank, Banco Central do Brasil, monitors inflation closely. High inflation can erode the Real's purchasing power.

Interest Rates: Central bank interest rates influence the Real's value. Higher rates can attract foreign investments, increasing demand for the currency.

Political Stability: Political events and stability influence investor confidence, impacting the Real's value.

Commodity Prices: Brazil is a significant exporter of commodities. Fluctuations in prices of commodities like soybeans and oil impact the Real's value.

**4. ** Exchange Rate Fluctuations:

The Real's value fluctuates against other currencies in the foreign exchange market. Factors like economic indicators, government policies, and global events impact these fluctuations.

Exchange rates, such as USD/BRL or EUR/BRL, indicate how much one unit of the foreign currency can buy in Brazilian Reais.

**5. ** Impact on the Economy:

A strong Real can make Brazilian exports more expensive, potentially reducing export competitiveness.

A weak Real can increase the cost of imported goods, potentially fueling inflation.

**6. ** Government Intervention:

Central banks, including Banco Central do Brasil, sometimes intervene in currency markets to stabilize or influence the Real's value.

**7. ** International Investment:

Investors may buy Real-denominated assets, such as bonds or stocks, influenced by Brazil's economic outlook and interest rates.

Understanding the Brazilian Real involves considering these economic, political, and market dynamics. Its value is intertwined with Brazil's economic performance and global economic factors, making it an important currency in the international financial landscape.

Brazil Economy in 2022

I'm sorry for any confusion, but my training only includes information up until September 2021, and I do not have access to real-time data or events that occurred after that date, including specifics about the Brazilian economy in 2022. For the latest and most accurate information about the Brazilian economy in 2022, I recommend consulting reputable sources such as government publications, financial news websites, or economic research institutions that provide up-to-date analyses and reports on the global economy, including Brazil.

BRL Conversion Example

Certainly, let's go through a conversion example using the Brazilian Real (BRL) and another currency, such as the US Dollar (USD).

As of my last update in September 2021, let's assume the exchange rate is approximately 1 US Dollar (USD) = 5.30 Brazilian Reals (BRL).

Example:

If you want to convert 50 US Dollars to Brazilian Reals, you can use the given exchange rate to calculate the amount in BRL.

50USD×5.30BRL/USD=265BRL50 USD \times 5.30 BRL/USD = 265 BRL50USD×5.30BRL/USD=265BRL

So, 50 US Dollars would be equivalent to 265 Brazilian Reals at the given exchange rate.

Please note that exchange rates can fluctuate due to various economic factors, so it's essential to check the current rates if you need the most accurate and up-to-date conversion.

Read more: https://computertricks.net/brazilian-real-brl-meaning-economy-conversion-example/

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prasannareddy · 1 year ago

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Unlocking Opportunities: The Growth of Open Banking

According to a recent report published by Allied Market Research, titled, “Europe Open Banking Market by Financial Service and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2030,” the Europe open banking market size was valued at $6.14 billion in 2020, and is projected to reach $48.30 billion by 2030, growing at a CAGR of 23.18% from 2021 to 2030.

Open banking is a type of financial service that involves electronic sharing of financial data. In addition, application programming interfaces (APIs) are used by open banking services to ensure the transfer movement of financial data. Moreover, financial data is sent between banks and third-party service providers. An open API protects customers' private data such as transaction history and patterns collected by third-party service providers, while allowing simple access to publicly available data, such as a bank's product offerings. As a result, the financial data obtained for a client is used to build more complex apps targeted at improving the user experience when using financial services.

Furthermore, in the open banking sector, big data analytics is gaining high traction. Big data analytics is the process of gathering, processing, and analyzing both structured and unstructured data. It is predominantly used to extract business insights from data. In addition, it is used in the open banking sector to tailor services and improve the client experience. For instance, HSBC Bank Plc., a UK investment banking firm, boosted its investment in artificial intelligence (AI) and big data analytics solutions to control financial crime risk in 2020. In addition, significant improvements in financial service provider collaboration as well as conventional banking collaborating with FinTech are predicted to promote the Europe open banking market growth.

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By financial service, the banking & capital markets segment occupied the largest share in the Europe open banking market size. The adoption of open banking services in banking & capital markets is expected to rise during the forecast period, owing to increase in the number of banking institutions utilizing new wave applications and services across Europe. However, the value added services segment is expected to grow at the fastest rate during the forecast period. The growth is attributable to benefits offered to service providers in designing value-added services by using open banking notably contribute toward the growth of the market in Europe. For instance, open banking platform creates new datasets that improve the generation of payment history patterns. Thus, it enables service providers to analyze the obtained customer data in a more profound manner and allows them to design specific and personalized value-added services for their consumer.

The demand for open banking has increased considerably during the COVID-19 pandemic. This is attributed to increased familiarity toward online banking among consumers and initiatives by governing bodies across the European countries to curb the spread of virus by initiating various policies for conducting banking processes. Thus, these factors promoted the growth of the Europe open banking market revenue during the pandemic situation.

Key Findings Of The Study

By financial service, the banking & capital segment led the Europe open banking market share, in terms of revenue in 2020.

On the basis of distribution channel, the distributors segment is expected to exhibit the fastest growth rate in the Europe open banking industry during the forecast period.

Country wise, UK generated the highest revenue in 2020 in the Europe open banking market analysis.

The key players operating in the Europe open banking market include Banco Bilbao Vizcaya Argentaria, S.A., Deposit Solutions, Finastra, Klarna Inc., Nordigen Solutions, Plaid Inc., Revolut Ltd., Tink (Visa Inc.), TrueLayer, Yapily Ltd. These players have adopted various strategies such as partnership, product launch, and collaborations to increase their market penetration and strengthen their position in the Europe open banking industry.

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mrbilge · 1 year ago

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STOXX50 18.07.2023

Banco Santander, S.A. (+5.27%) - sometimes known as Santander Group, is a Spanish international financial services firm headquartered in Madrid.

ASML (-2.95%) - is a world-class manufacturer of chip-making equipment. It's a frequent misperception that we fabricate chips, also known as microchips or integrated circuits (ICs), but we actually design and manufacture the lithography machines that are required for chip production.

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onenettvchannel · 1 year ago

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Banco Laguna rebrands to SeaBank Philippines, a subsidiary of Sea Group

PAGSANJAN, LAGUNA - Banco Laguna Inc. (BLi), a well-established rural bank in the country is set to undergo a corporate rebranding in the early Q2 of 2022. The institution, which originated as the Rural Bank of Pagsanjan in December 1965 before changing its name to BLi in the mid-2010s, will soon be known as SeaBank Philippines under the umbrella of Sea Group.

Sea Group, a leading e-commerce platform that includes Shopee Philippines will oversee the operations of SeaBank Philippines. This strategic move aims to leverage the synergy between the e-commerce company and the banking sector, offering innovative financial services to Filipinos.

The rebranding of BLi to SeaBank Philippines marks an exciting development for the rural bank and its customers. As part of the soft launch, Filipinos are being given the opportunity to experience the benefits of the newly said bank, including high-yield savings accounts that earns up to 6% p.a. in interest, regardless of whether customers deposit their own money via other Philippine banks or E-Wallets.

SeaBank Philippines aims to cater to the needs of tech-savvy Filipinos by offering seamless integration with ShopeePay, the digital wallet of Shopee Philippines. This integration will enable customers to enjoy a convenient and comprehensive financial ecosystem, combining online shopping and banking services in one platform.

In the near future, SeaBank Philippines plans to formally open its doors to Filipinos who are looking to open new high-yield savings accounts. The bank's expansion is expected to bring added convenience and benefits to customers, including streamlined transactions and access to a wide range of financial products and services.

As SeaBank Philippines continues to grow, the rural bank envisions potential expansion in the Visayas and Mindanao regions including Dumaguete City for example, per pending approval from the Philippine Deposit Insurance Corporation (PDIC), Securities and Exchange Commission (SEC), and regulated by the Bangko Sentral ng Pilipinas (BSP). This expansion will allow SeaBank Philippines to serve a larger customer base and contribute to the economic development of these regions.

SeaBank Philippines, as a subsidiary of Sea Group aims to provide innovative banking solutions that cater to the evolving needs of Filipinos. With its strong connection to the e-commerce platform of Shopee Philippines, SeaBank Philippines is well-positioned to offer seamless integration and a comprehensive financial ecosystem to its customers.

BLi's transformation into SeaBank Philippines signifies a new era for the rural bank and its commitment to providing modern banking services to Filipinos. This rebranding aligns with the digital transformation taking place in the banking industry and sets the stage for increased accessibility and convenience for customers across the country.

To further enhance accessibility, SeaBank Philippines has developed a user-friendly mobile application. Customers can download the SeaBank Philippines app for free from the Apple Store and Google Play, enabling them to open their bank accounts directly from their smartphones and enjoy the convenience of mobile banking.

CONTRIBUTED LOGO COURTESY: Sea Group

SOURCE: *https://www.bsp.gov.ph/Regulations/Issuances/2022/CL-2022-009.pdf [Referenced Circular Letter via BSP] *https://www.seabank.ph/info/history [Referenced Biography via SeaBank PH] *https://www.seabank.ph/assets/pdf/pages/annual%20report/Annual_Report_2018.pdf [Referenced Annual Report #1 via SeaBank PH] *https://www.seabank.ph/assets/pdf/pages/annual%20report/Annual_Report_2021.pdf [Referenced Annual Report #2f via SeaBank PH] *https://www.noypiguru.com/seabank-ph-is-undergoing-a-soft-launch-in-the-philippines/ [Referenced News Article via NoypiGuru] *https://help.shopee.ph/portal/article/89824 *https://ph.linkedin.com/company/seabankph [Referenced Biography via LinkedIn] *https://www.facebook.com/109716798439359/videos/379712554142197 [Referenced FB Video #1 via SeaBank PH] and *https://www.facebook.com/109716798439359/videos/633275691490935 [Referenced FB Video #2f via SeaBank PH]

Support our local and regional news, even like this one to become a Solid Bandera Supporter as a monthly subscription thru GCash, Maya, Coins.PH or ShopeePay thru AllMyLinks website.

We are also on SeaBank for endorsing this sponsored news article.

-- OneNETnews Team

#national news #pagsanjan #laguna #banking #banco laguna #seabank philippines #seabank #sea group #shopee #shopeepay #e-commerce #shopping #online #digital #technology #OneNETnews

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sudeepkedar · 1 year ago

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Procurement As a Service Market Share, Trend & Growth Forecast to 2032

As per a recent research report, Procurement As a Service Market to surpass USD 15 Bn by 2032.

Procurement as a service (PaaS) market is slated to witness lucrative gains through 2032, owing to the surging inclination of businesses towards outsourcing. Outsourcing procurement services brings operational expenses down while streamlining business operations. Many organizations across the globe are investing in outsourcing their non-core functions, such as procurement, to specialized service providers to focus on their core business functions, which is positively affecting the industry landscape.

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On the basis of components, the PaaS industry from the transaction management segment is slated to grow at a considerable CAGR from 2023 to 2032. PaaS providers invest considerable amounts into security technology and developing custom software to mitigate the risk of online fraud during transactions. Surging cases of cyberattacks attributed to rising automation in transaction management processes have escalated the need for dependable solutions, further bolstering the demand for reliable PaaS solutions.

On the basis of organization size, the PaaS market from the large enterprise segment accounted for a valuation of over USD 5 billion in 2022, owing to the rising adoption of IoT and AI applications. PaaS providers offer scalable procurement solutions to large organizations which help effectively deploy AI and IoT technology. Additionally, by offering enhanced onboarding, monitoring, and performance management services, PaaS providers can help these enterprises streamline their supplier management procedures.

Regarding the end-user, procurement as a service industry from the BFSI sector is poised to accrue notable gains through 2032. The rising number of cyberattacks and data breaches in the BFSI sector has propelled the demand for reliable procurement as a service technology for risk mitigation. Moreover, the surging deployment of cloud-based technologies in the BFSI sector has further propelled the need for an effective and dependable procurement as a service platform. In fact, in October 2022, Banco Santander, S.A., a Spanish multinational financial services firm, inked a deal with Google Cloud to help its clients transform from mainframe systems to the cloud.

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On the regional front, Europe procurement as a service market is anticipated to register lucrative gains through 2032, owing to the strong presence of market leaders such as Capgemini, Sastrify, and others, indulged in product innovations. In fact, the governments in the region are investing significant amounts in the digitalization of businesses, which is also expected to create a strong impetus for regional expansion.

Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1 Procurement as a service industry 3600synopsis, 2018-2032

2.2 Business trends

2.2.1 Total Addressable Market (TAM), 2023-2032

2.3 Regional trends

2.4 Component trends

2.5 Organization size trends

2.6 End-use trend

Chapter 3 Procurement As a Service Market Industry Insights

3.1 Impact of COVID-19

3.2 Russia- Ukraine war impact

3.3 Industry ecosystem

3.3.1 Platform provider

3.3.2 Service provider

3.3.3 Cloud-service provider

3.3.4 Distributor

3.3.5 End-user

3.3.6 Vendor matrix

3.4 Technology & innovation landscape

3.5 Patent analysis

3.6 Key initiative and news

3.7 Regulatory landscape

3.8 Industry impact forces

3.8.1 Growth drivers

3.8.1.1 Growing digitalization in business operations

3.8.1.2 Rising inclination towards outsourcing

3.8.1.3 Supply chain risk mitigation

3.8.1.4 Helps in cost reduction

3.8.1.5 Industry specific services by market players

3.8.2 Industry pitfalls & challenges

3.8.2.1 Lack of awareness regarding procurement as a service

3.8.2.2 Shortage of skilled professional

3.9 Growth potential analysis

3.10 Porter's analysis

3.11 PESTEL analysis

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]

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goldiers1 · 2 years ago

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Santander and IDB Invest Team Up To Revolutionize Brazilian Cancer Treatment

IDB Invest and Santander have provided a financing package of up to US $100 million, consisting of an IDB Invest A Loan of up to $20 million and a Banco Santander B Loan of up to US $80 million to Sociedade Beneficente Israelita Brasileira Albert Einstein, a not-for-profit healthcare organization established in Brazil. The $100 million amount will finance Einstein’s investments and expenses in the new Global Center for Advanced Oncology and Hematology Care Therapies, a world-class academic center for research in oncology and hematology and a care complex that will focus on prevention, diagnosis, treatment, rehabilitation, and survivorship, which is a program that supports patients after treatment in physical, psychosocial, emotional, and spiritual aspects, among others.

Surgery fairies and anesthesiologist. Photo by Prairie Kittin. Flickr. The Center is expected to be operational by 2025, in Parque Global, in São Paulo – the largest real estate project in development in Latin America – and will draw together the expert physicians and providers across a culture of continuous learning and education for the benefit of the patients and their families. Einstein envisions becoming one of the ten best hospitals in the world for healthcare and treatment of cancer and hematological diseases, responding to the increased demand for this type of treatment. Brazil is going through major epidemiological change, with the burden of non-communicable diseases, such as cancer, rapidly outstripping infectious diseases. It is critical to promote investment in healthcare infrastructure to address this situation. Cancer is a leading cause of death in Brazil and the Americas, being responsible for 1.4 million deaths in the region in 2020 according to the World Health Organization. In Brazil, the World Health Organization reported more than 590,000 new cases of cancer in 2020, and this is expected to double by 2025. Additionally, the number of people in the country living with cancer and/or rehabilitated from the disease is also growing, requiring more focus on the management of their health needs and quality of life.

Centro Cirúrgico. Photo by Prefeitura de Olinda. Flickr. The new Global Center for Advanced Oncology and Hematology Care Therapies, dedicated to patient care and research, will occupy a 38,000 m2 site in Parque Global and will include ten operating rooms, one hybrid room, two robotic operating rooms, 160 automated beds, 20 intensive care units, 20 semi-intensive care units, 120 medical clinics, 84 physicians’ offices, 36 chemotherapy rooms, 15 laboratories, a blood bank and emergency oncology care for approximately 12,000 patients per year. It will also offer the ultimate in tests and treatments with image-guided intervention systems, magnetic resonance imaging, computerized tomography, CT PETs (one of the most accurate tests for cancer detection) and linear accelerators. This deal is expected to contribute to three United Nations Sustainable Development Goals: Good Health and Well-being, Clean Water and Sanitation, Decent Work and Economic Growth, Industry, Innovation and Infrastructure, Responsible Consumption and Production, Climate Action, and Partnerships for the Goals.

About IDB Invest

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of US$15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About Santander Brazil

Santander Brazil started its activities in Brazil in 1982 and, through mergers and acquisitions of more than 70 banks, has created competitive wholesale and retail structures. It is part of Grupo Santander, one of the largest banks in the world in market value, with relevant presence in 10 key countries in Europe and America. The only international financial institution with a strong presence in retail banking, it has 51 thousand employees, around three thousand branches and banking service points (PABs), more than 35 thousand self-service terminals, and regional offices to serve 31.5 million active customers. Elected one of the most sustainable companies in 2022 by the ESG Best of Exame Guide, the Bank seeks to increasingly promote inclusive and environmentally responsible business.

About Einstein

Founded in 1955, Sociedade Beneficente Israelita Brasileira Albert Einstein is a non-profit organization and operates in private and public health in all stages of healthcare, teaching and education, consulting, research and innovation, and social responsibility. The service provision structure is comprised of 22 private and 29 units in the Public Health System (SUS) and nine teaching units. Einstein provides healthcare services to around 3 million people, has 45 thousand students from kindergarten to graduate courses and carries out at any given time around 1 thousand scientific and clinical research projects. In 2023, for the fourth consecutive time, Einstein was elected the best hospital in Latin America by The World’s Best Hospitals ranking, published by the North American magazine Newsweek. The health organization is the only Brazilian and Latin American institution in the top 100. The hospital ranked 34th in the global ranking. Sources: THX News & IDB Invest. Read the full article

#BrasilHealthcare #Brazil #BrazilianCancerTreatment #CancerTreatment #IDBInvest #Santander

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