International
UK Announces Partnership to Address Climate Crisis, Boost Growth
UK Announces Partnership to Address Climate Crisis, Boost Growth
By: Michael Mike
Efforts to address the climate crisis and boost growth in the Global South and at home will be enhanced under a partnership approach between the government and the UK financial sector, the UK’s Minister for Development Anneliese Dodds announced Monday
The Minister announced up to £100 million for the UK’s flagship public markets programme MOBILIST which will provide businesses focused on delivering the SDGs with the anchor funding and expert advice they need to list on stock exchanges around the world, allowing them to attract significant sums of additional private investment.
She also celebrated the issuance of the first Climate Investment Fund (CIF) Capital Markets Mechanism (CCMM) bond last month, which raised $500 million (approximately £400 million) for energy and clean technology projects in low- and middle-income countries. The CCMM, launched by the Prime Minister at COP29, is a new financial mechanism to leverage future loan repayments by issuing bonds on capital markets.
Speaking at the London Stock Exchange, Minister Dodds praised the “expertise, experience and dynamism” of the UK’s financial services sector, and pledged to put this expertise “at the heart of how we meet the opportunities and challenges of our time”, including accelerating delivery of the UN’s Sustainable Development Goals (SDGs). These seek to address global challenges, including poverty, inequality, and climate change, to achieve a better and more sustainable future for all, by 2030.
Minister Dodds set out how investment in the Global South is an opportunity for UK financial services “to marry investment in the economies and technologies of the future, with the experience and expertise of the City of London”, adding that the government will hold up its end of the bargain by working internationally to reform the global financial system to provide greater opportunity and stability.
Minister for Development Anneliese Dodds said: “With businesses and the government working hand in hand to drive investment in the Global South, we can unlock growth, jobs, trade, investment, and pride in our economy overseas and here at home.
“This government is enabling the financial services sector to flourish and use its expertise and depth of capital to invest in the markets and technologies of the future.
“Through partnerships like this, we will deliver on the Plan for Change, drive domestic growth, and create a world free from poverty on a liveable planet.”
The MOBILIST funding is expected to generate between £400 million and £600 million of new investments in businesses across emerging markets in Asia, Africa, and Latin America. These investments will support economic growth, sustainable development, and climate action in local markets.
As today’s announcements demonstrate, this government’s modern approach to development focuses on harnessing the power of the private sector in mobilising the finance emerging markets need to grow.
This will create future export markets for the UK and new overseas investment opportunities, supporting domestic growth and delivering on the government’s Plan for Change. It will also make the UK safer and more stable by tackling the drivers of conflict, climate crises and economic decline in partner countries.
UK Climate Minister Kerry McCarthy said:
“This is a historic moment for tackling the climate crisis, with the first bond raising $500 million to accelerate the global clean energy transition and support the flow of climate finance to developing countries.
“Public finance alone cannot tackle the scale of this challenge, and this mechanism will help leverage the private finance needed to support those on the frontline of a changing climate.
“Its listing in the UK positions London as a green finance capital. By working with partners such as the World Bank the UK can drive the action needed to grow the economy and reap the rewards of net zero.”
Minister Dodds made the announcements during a speech to the UK financial sector, including pension funds, insurers, banks, and development finance organisations, after joining a market opening ceremony at the London Stock Exchange.
Julia Hoggett, CEO of the London Stock Exchange, added: “Flows of investment are vital to generating sustainable growth both in the UK and around the world. London’s capital markets have long played a leading role in driving flows of capital to where they need to go, and we welcome the focus on fuelling growth and supporting the just transition to net zero.
“As part of these efforts, we are proud to celebrate the listing of the Climate Investment Funds’ Capital Markets Mechanism on the London Stock Exchange. This pioneering bond issuance programme not only brings a new financing tool to our market but is facilitating critical investment in sustainable and clean assets.”
UK Announces Partnership to Address Climate Crisis, Boost Growth
Nigeria, Russia to deepen military, technical cooperation
By: Zagazola Makama
The Russian Federation has reaffirmed its commitment to strengthening defence and military-technical cooperation with Nigeria as part of efforts to promote peace, sovereignty and stability across the African continent.
Speaking at a bilateral meeting with Nigerian Defense Chief, General Christopher Musa and other officials, a Russian envoy described Nigeria as a strategic and promising partner, noting its position as the most populous country in Africa and a key regional player.
“We consider the Federal Republic of Nigeria a promising partner on the African continent. You are the largest country, and we support the efforts of the Nigerian authorities to strengthen national armed forces to safeguard the country’s sovereignty and ensure regional security,” the envoy said.
He expressed satisfaction with Nigeria’s willingness to pursue constructive cooperation with Russia in the areas of military and defence technology.
“We positively assess your commitment to fruitful cooperation with our country in military and military-technical spheres,” he added.
The Russian official called for an open discussion on current defence priorities, pledging continued support to Nigeria and other African partners.
In his response, Gen Musa, appreciated them for their support and commitment to the Armed Forces of Nigeria and for inviting him and his for the 80th victory parade.
He also appreciated them for the donation of weapons and drones to boost the campaign against terrorism within Nigeria and the Sahel Region
“Today, we discuss the most relevant issues of cooperation between our defence ministries. We value our friendship with Russia and deeply appreciate all the assistance Russia has provided assistance that has often been critical for many countries,” he said.
He praised Russia’s reliability and action-oriented diplomacy, saying, “You don’t just make promises, you fulfil them. Everyone knows Russia works for the good of peace and stability.”said General Musa.
The meeting, attended by top defence officials from both countries, is expected to yield agreements that will boost training, logistics, arms supply and intelligence-sharing in the fight against terrorism.
Nigeria, Russia to deepen military, technical cooperation
Nigeria Congratulates Germany on Election of New Chancellor
By: Michael Mike
Nigeria has extended its warm congratulations to Germany on the successful election of Friedrich Merz as the new Chancellor. The Conservative Leader
won with 325 votes in the 630-Seat Bundestag on Tuesday, 6th May, 2025.
A statement by the spokesperson of the Ministry of Foreign Affairs, Kimiebi Ebienfa read: “Nigeria commends Germany’s strong democratic traditions and values, which have once again been demonstrated through a peaceful and transparent electoral process. We are confident that under Friedrich Merz’s leadership, Germany will continue to play a pivotal role in advancing global peace, stability, and prosperity.
“As longstanding partners, Nigeria looks forward to deepening bilateral relations with Germany in areas of mutual interest, including trade, investment, security, and sustainable development. We also reaffirm our commitment to strengthening multilateral cooperation within the framework of the United Nations and other international fora.
“The Nigerian government and people wish the new Chancellor a successful tenure and express our readiness to work closely with Germany for the benefit of both nations and the global community.”
Nigeria Congratulates Germany on Election of New Chancellor
Nigeria Commiserates with Catholic Church Over Demise of Pope Francis
By: Michael Mike
The Federal Government has expressed profound sorrow at the passing of His Holiness Pope Francis, who died on Monday, 21 April 2025, at the age of 88 years.
The departed Holy Father, the political head of Vatican City and the head of the Catholic Church, was described in the statement as a global moral leader whose papacy was marked by humility, compassion, and an unwavering commitment to peace, social justice, and the dignity of all people.
The statement read: “Nigeria commiserates with the teaming population of the catholic church in the country and joins the international community, particularly the Catholic faithful worldwide, in mourning this immense loss. Pope Francis’ deep concern for the marginalized; including refugees, the poor, and victims of conflict, resonated strongly in Nigeria, where his calls for interreligious harmony and solidarity were a beacon of hope amid challenges.
“His historic 2022 apology for the Church’s role in colonial injustices, including the suffering of Indigenous peoples, indeed set a powerful example of reconciliation. Also worthy of commendation is his advocacy for peace in Africa, and other conflict areas in the world, reflecting his universal pastoral mission.”
The statement further read that: “In this moment of grief, therefore, Nigeria extends heartfelt condolences to the Vatican, the Catholic Church, and the Argentine people, who gifted the world this extraordinary pontiff.
“We pray for the repose of his soul and trust that his legacy of mercy, dialogue, and care for our common home will endure.”
Nigeria Commiserates with Catholic Church Over Demise of Pope Francis
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