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Luxembourg to extend support for European Investment Bank’s Financial Inclusion Fund

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Luxembourg

The Financial Inclusion Fund seeks to strengthen the capacity of the EIB’s existing and prospective microfinance counterparts and reach out to typically disadvantaged groups of the population

LUXEMBOURG, Luxembourg, July 19, 2023/APO Group/ — 

The Financial Inclusion Fund provides technical assistance for microfinance institutions in Africa, the Caribbean and the Pacific; With an additional €4.8 million pledged by Luxembourg over the next three years, the fund’s size has increased to €11.5 million; Building on remarkable results, the fund will continue to help micro and small businesses in vulnerable communities to access financial services.

The Grand Duchy of Luxembourg, represented by Minister for Development Cooperation and Humanitarian Affairs Franz Fayot, and Minister of Finance Yuriko Backes, has pledged an additional €4.8 million to EIB Global’s Financial Inclusion Fund, bringing the fund’s total size to €11.5 million. The contribution agreement was signed on 18 July 2023 at the EIB headquarters in Luxembourg.

The Financial Inclusion Fund will continue providing support to financial service providers that focus on vulnerable groups such as young people, women and rural populations in African, Caribbean and Pacific countries. The fund was launched in 2019 (https://apo-opa.info/3Q3Jf7D) to continue the long-standing partnership between the EIB and the Luxembourg Ministries of Finance and Foreign and European Affairs in the area of microfinance.

The Financial Inclusion Fund seeks to strengthen the capacity of the EIB’s existing and prospective microfinance counterparts and reach out to typically disadvantaged groups of the population. Its efforts are helping to achieve the United Nations’ Sustainable Development Goals, notably targeting SDG 1 (No Poverty), SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth).

Since its inception, the fund has provided 32 capacity-building grants to a range of inclusive finance stakeholders in 25 countries in Africa, the Caribbean and the Pacific as well as in the EU Southern Neighbourhood. These grants have been used for a variety of projects, from connecting microentrepreneurs and small businesses with funding via digital platforms, to empowering female business owners, improving processes for loan applications and for releasing funds, and offering savings accounts to make clients more resilient to different types of market shocks.

Our joint collaboration under the Financial Inclusion Fund is delivering concrete results on the ground, helping thousands of vulnerable people who lack access to finance

The fund’s ongoing operations are expected to achieve further impressive results. Some examples include training or coaching over 130 000 staff members and clients of microfinance institutions in the targeted regions, providing access to finance to 600 000 people in remote and rural parts of Zambia, rolling out digital banking services to thousands of people in sub-Saharan Africa, and enabling 200 000 female microentrepreneurs to access and use financial products.

Future projects made possible thanks to the contribution signed today will focus on promoting the economic empowerment of women (50% of projects will be aimed at gender and social inclusion), encouraging climate action and environmental sustainability by supporting sustainable agriculture, and advancing digitalisation in the world’s least developed and low- and middle-income countries.

EIB President Werner Hoyer said: “Finance is a critical enabler of the United Nations Sustainable Development Goals. To accelerate progress, we need more innovative models, particularly in the areas of women’s empowerment and climate action. The Financial Inclusion Fund is a powerful tool that allows the European Investment Bank to provide crucial support to microfinance institutions around the world and to deliver development impact. I am grateful for the long-standing support of the Luxembourg government in this field. The Financial Inclusion Fund is a testament to our shared commitment to using finance to achieve the SDGs.”

Yuriko Backes, Luxembourg Minister of Finance and EIB governor said: “With a contribution of €4.8 million to the Financial Inclusion Fund, Luxembourg aims to support meaningful action to foster economic empowerment and improve the lives of individuals and communities worldwide. Building upon our previous efforts, we will continue to prioritise the delivery of technical assistance through the fund, targeting key areas crucial for sustainable development, such as women’s empowerment and gender equality, climate and environmental protection, and digitalisation and food security, among others. This renewed contribution serves as another testament to the strong collaboration between Luxembourg and the European Investment Bank in driving finance for change, further solidifying our commitment to creating positive and lasting impact.”

Franz Fayot, Luxembourg Minister for Development Cooperation and Humanitarian Affairs said: Providing formal financial services in a socially responsible and financially sustainable way can make a substantial contribution to poverty reduction and job creation in low- and middle-income countries. Yet, the lack of accessible and affordable financial services, particularly in remote rural areas, remains a major challenge. In this regard, the Financial Inclusion Fund is a key instrument to help overcome barriers to accessing impactful financial services. Its activities are making a considerable contribution towards achieving the SDGs.”

EIB Vice President Kris Peeters said: “Luxembourg is a key partner for the EIB and one of the largest donors to EIB Trust Funds, in a wide range of areas, such as financial inclusion, as well as climate action, economic resilience and infrastructure. Our joint collaboration under the Financial Inclusion Fund is delivering concrete results on the ground, helping thousands of vulnerable people who lack access to finance. The additional contribution from Luxembourg to the FIF is an occasion to celebrate its success so far, and of course aim higher, to do more and better, ensuring a better future for marginalised groups including women”

Distributed by APO Group on behalf of European Investment Bank (EIB).

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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