Chris Infotainment

The "Nuoi Em" Charity Project Faces Major Scrutiny Over Transparency Concerns The charity project “Nuoi Em” (Raising Children) has recently come under intense scrutiny due to allegations of transparency failures. These include claims that individual children were assigned multiple sponsors and that the project's data contains inconsistencies. Hoang Hoa Trung, the founder of the initiative, announced on December 8 that all fundraising activities would be suspended and bank accounts frozen while an independent audit is conducted. This decision followed a two-day storm of criticism on social media regarding the project’s processes. Central to the controversy is the alleged violation of the project’s core promise: that each child would be supported by only one donor through a unique identification code. The issue first came to light on December 6 when donor Alexa Phan shared her experience online. She stated that she sponsored a child in August 2022 under code NE03905, onl...

ADF Provides Critical Funding to Complete Liberia’s Hydropower Project The African Development Fund (ADF) has taken a significant step in supporting Liberia's renewable energy ambitions by approving a $7.41 million financial injection to complete the Renewable Energy for Electrification project. This initiative is a key component of the country's efforts to expand access to electricity and promote sustainable development. The funding is specifically aimed at addressing critical financial and operational challenges that have delayed the project. At the heart of this initiative is the construction of a 9.34-megawatt run-of-river hydropower plant located at Gbedin Falls in Nimba County. This plant is expected to play a vital role in meeting the energy needs of the region. Addressing Financial and Operational Challenges The additional loan is intended to overcome cost overruns that have occurred during the construction phase of the hydropower plant. It will also cover expenses ...

Launch of the National Growth Fund Marks a New Era in Economic Strategy On the 17th, the government held a signboard unveiling ceremony and a business agreement ceremony for the "National Growth Fund," a substantial financial initiative worth 150 trillion Korean won. This fund marks the beginning of full-scale operations and is seen as a pivotal move in the country's economic strategy. Led by President Lee Jae-myung , the fund has been dubbed the "Lee Jae-myung-style fund" due to its innovative approach and focus on long-term growth. At the event, which took place at KDB in Yeouido, Seoul, Lee Eog-weon, Chairperson of the Financial Services Commission, emphasized the importance of the fund. He stated, "Through the National Growth Fund, which is evaluated as the 'largest fund in the nation's history,' we must redirect the flow of funds, gather innovative capabilities, and trigger a major transformation in our advanced industries." The fun...

Introduction to the New Financial Support Measures The Ministry of Land, Infrastructure and Transport has introduced new financial support measures aimed at boosting the construction industry, particularly for small and medium-sized enterprises (SMEs). These initiatives include a special project financing (PF) guarantee program designed to provide much-needed liquidity and support to companies that previously struggled to meet traditional lending criteria. Overview of the PF Special Guarantee Program The PF special guarantee is specifically tailored to assist SMEs in the construction sector that are not among the top 100 in terms of construction capabilities. The program has been enhanced with revised evaluation criteria, which now place more emphasis on project feasibility rather than the contractor's overall ranking. This shift allows companies with lower rankings to qualify for financial support. The evaluation process has seen a reduction in the weight given to the contrac...

Ho Chi Minh City authorities have proposed a VND9.2 trillion (US$370 million) project to dredge and upgrade the Ba Lon Canal, one of the city's seven key drainage arteries, as flooding and pollution intensify across wards in its southern parts. The city People's Committee has submitted the proposal to the municipal People's Council for immediate consideration, seeking approval to launch what officials describe as a critical infrastructure intervention to protect the fast-growing southern urban zone from recurring inundation. Heavy rain and rising tides caused about 2 km of Tran Xuan Soan Street in HCMC to be flooded on Oct. 17, 2025. Photo by VnExpress/Gia Minh Stretching 7.4 km from the Doi Canal in former District 8 to the Ba Lao Canal in the former Binh Chanh district, the Ba Lon Canal will be fully dredged and reinforced with nearly 10 kilometers of embankments. The plan also calls for a new 1km road, 12-18m wide, and the construction of the Ba Lon 2 Bridge spanni...

Morocco Reduces Treasury Special Accounts in 2026 Budget Plan Morocco has announced a significant reduction in the number of treasury special accounts as part of its 2026 finance bill. According to official budget documents released this week, the number of these accounts has been cut from 69 to 55, representing a decrease of 14 funds. This move is part of broader efforts to streamline government spending and improve fiscal efficiency. Despite the reduction in the number of accounts, the total allocations for these funds remain substantial, amounting to 154.47 billion dirhams. The Social Protection and Solidarity Fund is the largest recipient, with 36.49 billion dirhams allocated. This is followed by local governments, which receive 57.59 billion dirhams through value-added tax revenue shares. Additionally, a separate regional fund receives 9 billion dirhams. Key Allocations and Development-Oriented Funds Several development-oriented funds continue to absorb a large portion of the...

EU’s Horizon Europe Programme Welcomes Nigerian Researchers The European Union (EU) has made a significant statement regarding its Horizon Europe programme, a massive €100 billion initiative dedicated to funding research and innovation across the globe. This programme is now open to researchers from Nigeria, marking an important step in international scientific collaboration. At the University of Lagos 18th Annual Research Conference, the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, emphasized the importance of research in driving inclusive and transformative progress. He stated, “Horizon Europe is open to Nigerian researchers because the pursuit of knowledge belongs to all humankind. When science connects people, it builds a stronger, fairer and more sustainable world.” Mignot highlighted that the EU is working closely with Nigeria to strengthen the country's research and innovation ecosystem. The focus areas include digital transformation, climate resilience, and susta...

Government Urges Tertiary Institutions to Utilize Unspent Education Funds The Federal Government has issued a directive to all tertiary institutions in Nigeria, urging them to fully utilize unaccessed and unspent education intervention funds within 30 days. This move marks the end of an era where funds remained idle due to bureaucratic inefficiencies. During a strategic meeting with Vice Chancellors, Rectors, Provosts, Bursars, and Procurement Officers in Abuja, Minister of Education, Dr. Maruf Tunji Alausa, emphasized the importance of using allocated resources effectively. He described the failure to use these funds as a "setback to national progress" and stressed that institutions must submit reconciled reports of unutilized funds within the stipulated timeframe. "This meeting is not for blame games but to move forward collectively," the Minister stated. He highlighted that resources meant to transform classrooms, laboratories, and libraries have remained unus...

ECOWAS Bank for Investment and Development Approves $308.63 Million for Strategic Projects The ECOWAS Bank for Investment and Development (EBID) has announced the approval of a total of $308.63 million to support strategic projects focused on clean energy, industrial development, and sustainable growth across the West African region. This significant financial commitment was made during the Bank’s 93rd Ordinary Session, which took place at its headquarters in Lomé. The session was chaired by Dr. George Agyekum Donkor, EBID’s President and Board Chair. Dr. Donkor emphasized that these funding decisions are aligned with the Bank’s core mandate to promote regional integration, economic diversification, and sustainable development in West Africa. He highlighted that the approved projects will contribute significantly to the region's long-term economic resilience and environmental sustainability. Key Projects Approved One of the major initiatives approved is a $40 million line of cr...

Introduction to the DELTA-2 Programme The National Agency for Science and Engineering Infrastructure (NASENI) has partnered with the Presidential Implementation Committee on Technology Transfer (PICTT) to launch the second phase of the DELTA-2 Programme. This initiative, a collaboration with the Technology Agency of the Czech Republic (TA CR), aims to transform research and development outcomes into practical solutions that address real-world problems, create employment opportunities, and drive economic growth. Background of the DELTA-2 Initiative DELTA-2 was first introduced in 2022, inviting Nigerian innovators, researchers, and entrepreneurs to submit proposals in key sectors such as agriculture, mining, and manufacturing. The initial call received approximately 284 applications, with 25 projects selected for funding after an extensive evaluation process. In December 2023, agreements worth $21.7 million were signed, with TA CR contributing $11.7 million and NASENI providing $10 m...

Federal Government Targets 20 Million Children Through School Feeding Initiative The federal government has set an ambitious goal of reaching 20 million children through the Homegrown School Feeding Programme by 2026. This initiative is being framed not only as a critical educational investment but also as a strategic move for national security. The announcement was made by Vice President Kashim Shettima during the National Policy Forum on the Institutionalisation and Implementation of the Renewed Hope National Home Grown School Feeding Programme, held in Abuja. The forum was organized by the Presidential Committee on Economic and Financial Inclusion, in partnership with ActionAid Nigeria and other key stakeholders. Representing the Vice President, Dr. Kolade Fasua, Special Adviser to the President on Economic Affairs, highlighted the significance of the programme under President Bola Tinubu’s Renewed Hope Agenda. He described it as the most extensive expansion in the history of the ...

A Global Call to Action on Debt and Development Following a significant moment in the Fourth International Conference on Financing for Development, there is a growing consensus among governments, international financial institutions, and civil-society organisations. They are preparing for action ahead of the United Nations General Assembly (UNGA) in September. This comes after recent reports, including Healthy Debt on a Healthy Planet , the Jubilee Report , and the Report of the UN Secretary-General's Expert Group on Debt , have highlighted the severity and urgency of the intertwined debt and development crises. In 2024, developing countries paid US$25 billion more to external creditors than they received in new disbursements. This means that 3.4 billion people—more than 40% of the world’s population—live in countries that spend more on interest payments than on health or education. The situation has been exacerbated by the global financial system, which is not designed to meet t...

FUTA Alumni Trust Fund Board Inaugurated The Federal University of Technology, Akure (FUTA) recently held an inauguration ceremony for a new set of alumni who have been appointed to the board of the Alumni Trust Fund. This event marks a significant step in the university's efforts to strengthen its financial and developmental support systems. The newly formed board is tasked with overseeing the endowment and fundraising activities aimed at supporting various aspects of the university’s growth. These include training programs, research initiatives, capacity building, and infrastructural development. The board’s role is crucial in ensuring that the university continues to meet high standards of academic excellence and innovation. During the event, the FUTA Alumni President worldwide, Engr. Adeyemi Bello, expressed his gratitude to the University Vice Chancellor, Professor (Mrs) Temidayo Adenike Oladiji FAS, for her unwavering support of the association. She also serves as the Patr...