Amit Shah refutes Stalin's fund claims, says Centre gave Tamil Nadu ₹5 lakh cr. BJP aims for 2026 TN win, slams DMK for corruption, nepotism & diversion tactics.

Harpal Singh Cheema leads a meeting on revenue generation and capital creation, praising Krishan Kumar for a 62.93% rise in GST collection in Punjab.

By David Latona and Virginia Furness LONDON (Reuters) -Spain has partnered with the World Bank to help countries free up money to spend on sustainable development projects via debt swaps, the country’s Ministry of Economy said on Tuesday. With rich governments cutting official development aid and many countries spending more on servicing debt than on development, nations are turning to creative ways to find cash to support projects ranging from protecting coral reefs to paying for water sanitation projects and schools. The Global Hub for Debt Swaps for Development, launched at the Finance for Development summit in Seville, southern Spain, will provide countries with technical and financial assistance as they look to reallocate finance to projects like food security and climate adaptation, the Spanish government said. Countries from Barbados to the Ivory Coast have used debt-swap mechanisms over the last year to buy back more expensive loans or bonds and refinance them at cheaper rates, while pledging to use the savings for social and environmental projects. But critics say such deals can be time-consuming, costly and hard to replicate, which has prevented more widespread adoption of a tool advocates say is critical to helping countries reduce debt burdens and address development issues. "We have heard loud and clear the message from many countries: we need practical tools that make debt swaps simpler, faster, and more accessible," Spain’s Minister of Economy, Trade, and Business Carlos Cuerpo said. Spain will contribute 3 million euros ($3.54 million) to support the Hub, while the World Bank said it will host a "multi-partner trust fund to finance technical assistance". "By turning successful pilot projects into repeatable solutions, we can ease debt burdens and unlock investments in education, health, and opportunity," World Bank Group President Ajay Banga said. In the last two decades, Spain has signed 47 agreements with 28 countries, resulting in the forgiveness of 1.64 billion euros of debt. The government has put in place a new national framework to sign bilateral debt swap agreements totaling up to 300 million euros over the next five years, the Economy Ministry said. ($1 = 0.8470 euros) With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

Mizoram CM Lalduhoma said that the inflow of funds from the Centre for executing development projects in the state has been satisfactory.

Federal Minister for Parliamentary Affairs Azam Nazeer Tarar informed the National Assembly on Wednesday that the allocation of development funds to lawmakers is currently in progress. Responding to a...

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