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In the News
Even conservative Britain plans to slash carbon emissions 68% by 2030: banking, building and borrowing are key
By Anupam Nanda, The Conversation – The UK government is setting up a national infrastructure bank in the North of England which will fund projects across the UK, while attempting to garner additional private investment. The bank’s institutional weight will lend confidence and guarantees to private investors, and could assist local and mayoral authorities with regional infrastructure projects.
By Stephen Hamway, Albuquerque Journal – Despite New Mexico’s reputation for famous pecans, chiles and beef, the state routinely ranks near the bottom of food stability rankings, as most of that food never makes it into the hands of New Mexico residents. With that in mind, a collection of small-scale farmers, food policy experts and state officials met virtually last week to discuss how to make NM’s food system more sustainable, more locally driven and, ultimately, more equitable.
By Judy Wicks, Where’s Wicks? Newsletter – The 2020 election has left us a deeply divided nation. But politics did not cause this rural-urban division, and the wound will not be healed by political debates over which party will take better care of us. I believe we must learn to care for each other. I believe we can address this loss, and at the same time end economic inequality and environmental degradation, by working together to build local economies that care for us all, and nature, too.
By Jillian Ambrose, The Guardian – Britain’s first national infrastructure strategy will deliver a “once in a generation investment” worth £100bn to spur the country’s recovery from the coronavirus crisis, the chancellor said on Wednesday. Rishi Sunak set out plans for the “highest sustained levels of public investment in more than 40 years” as the government attempted to offset a grim economic prognosis in the wake of the COVID-19 pandemic.
By Staff Writer, Taarifa – The first ever international summit of Development Banks recently concluded in Paris, bringing together different participants from around the globe. Most prominent at the summit were representatives from Public Development Banks whose main mandate is to implement different countries’ commitments to development and international solidarity in line with the Sustainable Development Goals (SDGs.)
By Bank of North Dakota – In a joint statement, the Industrial Commission stated, “The Bank’s ability to maintain its credit rating despite challenging economic times reflects its solid management and conservative lending and investment practices. BND continues to be a resource for local lenders to stabilize and grow the local economy and for students pursuing higher education.”
By Oscar Perry Abello, Next City – The Paycheck Protection Program laid bare the reality that larger banks tend to focus more on larger clients, relegating millions of small businesses to second-class status. But there is evidence that loan participations, like those offered through the Fed’s Main Street Lending Program, can tip the scales toward smaller lenders.
By Dan Mayfield, Taos News – Community activists have renewed their efforts to create a New Mexico public bank, designed to provide needed capital for jobs and infrastructure spending across the state. Their initiative, to be introduced in the 2021 legislative session, could keep much more of New Mexico’s money in the hands of local communities, according to supporters.
By Dee Gamble for Green Fire Times – How does New Mexico climb out of a seemingly intractable situation in the face of ongoing damage being caused by the coronavirus? A public bank for New Mexico: a bank with a “common good” purpose and re- sources to build community wealth in every village, town and city, can be the primary engine for such a far-reaching transformation.
By Thomas Marois and Maria Jose Romero, In Depth News – Public development banks – and here we are talking about multilateral institutions, but also often overlooked national banks like Germany’s KfW, India’s NABARD, Colombia’s Findeter, and the Development Bank of Southern Africa – are in a unique and powerful position to play a major role in tackling the crises arising in today’s world.