| | OCTOBER 20238IN FOCUSThe World Bank, in collaboration with Japan and with the participation of Italy, the Republic of Korea, Canada, and the United Kingdom, has established an effort to address the combined concerns of employment development and climate change. The RISE program, or Resilient and Inclusive Supply-chain Enhancement, will aid emerging markets and developing nations in growing their clean-energy product production and boosting their role in the minerals business.This effort is expected to stimulate economic growth and generate quality local jobs, ultimately contributing to poverty alleviation. The RISE initiative has garnered substantial financial support from Japan, Canada, Italy, the Republic of Korea, and the United Kingdom, with an initial total contribution exceeding USD 40 million. Further contributions from additional donors are anticipated, as per ANI.The announcement of this revolutionary alliance was announced during the 2023 World Bank-IMF Annual Meetings in Marrakech. The event was co-hosted by Japanese Finance Minister Suzuki Shunichi and World Bank President Ajay Banga.Prospective receiving nations, Chile and India, emphasized the importance of the RISE program in their respective development plans.World Bank President Ajay Banga expressed his enthusiasm for the initiative, said, "These are exactly the kinds of initiatives we need right now. This partnership will give developing countries the promise of a brighter future, one with a healthy economy and a livable planet. Countries will have new economic opportunities in clean energy and minerals industries; leading to jobs that help them build better lives for themselves and their families." Edge, one of the world's premier advanced technology and defense firms, has inked a strategic partnership deal with Saha Istanbul, setting the road for stronger UAE-Turkey cooperation.Attending a dedicated industry summit in Türkiye, hosted exclusively for Edge by Saha Istanbul, a respected association representing more than 1,000 Turkish defence companies, Edge announced that it is inaugurating a dedicated office in the UAE named Malath, which will act as a catalyst for new business engagement between Edge and Saha companies, marking a new chapter in UAE-Türkiye cooperation in the advanced technology and defence sectors, and creating greater growth opportunities across the wider region and beyond, as per TradeArabia.The agreement establishes a framework for both parties to discover collaborative prospects for cooperative growth, allowing Edge to benefit from Turkey's mature ecosystem and solid supply networks. Mansour AlMulla, Edge Group Managing Director & CEO, and lhami Kele, Vice Chairman of Saha Istanbul, signed the agreement, which was witnessed by Faisal Al Bannai, Chairman of Edge Group, and Haluk Bayraktar, Chairman of Saha Istanbul. Edge will also sign more than 20 more agreements with Turkish firms in the technology and defense industries.Al Bannai said: "Today, we forge a path of strategic alliance with Saha Istanbul and its member companies, enabling us to tap into Türkiye's rich ecosystem and robust supply chain. This cooperation will not only pave the way for innovation but also strengthen the ties between our nations, fostering a sustainable future for our industries." WORLD BANK & JAPAN PARTNER TO PROMOTE MINERAL INVESTMENTSEDGE INKS STRATEGIC COOPERATION DEAL WITH SAHAISTANBUL
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