Photo:Rio2016.com That was the message behind a vibrant Opening Ceremony that heralded the start of the Rio 2016 Olympics.From supermodel Gisele Bundchen’s tribute to the “Girl from Ipanema” to the promise of an athletes’ forest to be planted after the Games, Brazil’s big night saluted the country’s past and pointed towards a greener future.A day of protests against the hosting of the Games gave way to a night of pageantry at the Maracana Stadium, albeit on a budget one-tenth the size of the equivalent in London four years ago.”These first-ever Olympic Games in South America will go from Brazil to the entire world,” International Olympic Committee president Thomas Bach told the crowd.”With the Olympic Games as a catalyst, you have achieved in just seven years what generations before you could only dream of. You have transformed the city of Rio de Janeiro into a modern metropolis and made it even more beautiful.”Our admiration for you is even greater because you managed this at a very difficult time in Brazilian history. We have always believed in you.”During his speech, Bach also paid tribute to the refugee team which will compete in Rio under the Olympic flag.”We are living in a world where selfishness is gaining ground, where certain people claim to be superior to others,” he said of the Olympians representing displaced people across the world. “Here is our Olympic answer.”President of the organizing committee Carlos Nuzman delivered an impassioned tribute to Rio and urged Brazilians to embrace the Games.”Our dream is for the Olympic city to be transformed by the Games,” he said. “This marvelous city is the perfect city. Let’s live our dream together and stay together when circumstances challenge us.”In the name of all Brazilians, I welcome the world. Rio is ready to make history.”Brazil’s interim president Michel Temer spoke briefly to the crowd to officially open the Olympics, but he was greeted by boos from a section of the crowd, reflecting the dissatisfaction of the Brazilian people with the government.The lighting of the Olympic cauldron followed, with the honor going to Vanderlei Cordeiro de Lima, a former runner who led the marathon at the 2004 Games until he was attacked by a spectator. He eventually finished third.Former tennis star Gustavo Kuerten brought the flame into the stadium and passed it on to ex-basketballer Hortencia Marcari, then De Lima took center stage.Reports earlier Friday suggested that football legend Pele was too fragile to take part.While the opening sequence of the ceremony included a nod to “Gambiarra” — the Brazilian talent for making something great out of almost nothing — public anger Friday focused on the level of spending on the Games.Against this backdrop, the ceremony’s director Fernando Meirelles — whose most famous work is the 2002 film “City of God” — was keen to spread a message of conservation.And despite describing the final rehearsal as a “disaster,” Meirelles and Games organizers will be relieved that festivities went off without a hitch.As if to reinforce the green ethos of the ceremony, it came to a close with a floral recreation of the Olympic rings.Prior to the 11,000-plus athletes parading into the stadium, it was revealed each of them would plant a seed that would form a forest at Radical Park in Deodoro, containing a different species for each of the 207 competing nations.Gisele threatened to steal the show when she strutted across the arena floor, with the world’s highest-earning supermodel admitting it was “the longest catwalk I’ll ever walk” in an Instagram post prior to the ceremony.”I am humbled and honored to be part of this historic moment for my country,” she added. “I believe that the unity is the key to creating a world filled with kindness, gratitude, peace, and love.”The show is the work of 35,000 professionals and roughly 12,000 volunteers. It featured 12 samba schools and required 5,500 costumes.Brazil’s flag bearer was modern pentathlete Yane Marques, who led the home team into the Maracana to a rapturous welcome, with the hosts bringing the parade of nations to a close.The Russian team was led into the stadium by flag bearer Sergei Tetiukhin, who is on the men’s volleyball team.The 271 Russian athletes — out of an original entry list of 389 — who walked into the stadium were only officially cleared to take part in the Games on Thursday.The Court of Arbitration for Sport is still deliberating on several appeals from Russians seeking to overturn doping bans.
Peza offers relief to ecozone firms Here’s a look at some of the individuals or organizations that have been charged, ousted, opted to quit, taken leaves or had ties cut:MICHIGAN STATE UNIVERSITYFEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSTim Cone still willing to coach Gilas but admits decision won’t be ‘simple yes or no’— Lou Anna Simon: The university president and school alumna resigned in January amid growing pressure from students, lawmakers and some members of the school’s governing board. She acknowledged being “the focus of this anger” but has denied any cover-up by the university. The governing board later hired former Michigan Gov. John Engler as its interim president .— Mark Hollis: The athletic director and a Michigan State alumnus called his January departure a retirement, but he, too, had faced pressure to leave. Hollis had been on the job for 10 years. He said he made the choice because of “the scope of everything,” adding that he hoped his departure would help the “healing process.” DepEd’s Taal challenge: 30K students displaced Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award MOST READ View comments Don’t miss out on the latest news and information. Nadine Lustre’s phone stolen in Brazil LATEST STORIES Celtics’ Kyrie Irving honored by mother’s Sioux tribe Will you be the first P16 Billion Powerball jackpot winner from the Philippines? ‘High crimes and misdemeanors’: Trump impeachment trial begins FILE – In this Nov. 22, 2017, file photo, Dr. Larry Nassar appears in court for a plea hearing in Lansing, Mich. Authorities say disgraced former sports doctor Larry Nassar has been transferred to another federal prison facility. AP Photo/Paul Sancya, File)Numerous people have been criminally charged, fired or forced out of their jobs in the wake of the sexual abuse scandal involving once-renowned gymnastics doctor Larry Nassar.Nassar was sentenced to decades in prison after hundreds of woman and girls said he sexually abused them under the guise of medical treatment, including while he worked for Michigan State University and USA Gymnastics. The school has already settled lawsuits totaling $500 million.ADVERTISEMENT Sports Related Videospowered by AdSparcRead Next — Valeri Liukin: The coordinator of the women’s national team for USA Gymnastics announced in early February that he was stepping down, less than 18 months after taking over for Martha Karolyi. Liukin said that while he wanted to help turn the program around, “the present climate causes me, and more importantly my family, far too much stress, difficulty and uncertainty.”— USA Gymnastics said in January that its entire board of directors would resign as requested by the U.S. Olympic Committee. The USOC had threatened to decertify the gymnastics organization that picks U.S. national teams and is the umbrella organization for hundreds of clubs across the country.— Steve Penny: The former president and CEO of the organization resigned under pressure in March 2017. He was replaced by Kerry Perry, who took over in December. TWISTARS GYMNASTICS CLUB— John Geddert: The owner of the Michigan club was suspended in January by USA Gymnastics and announced his retirement. He was the U.S. women’s coach at the 2012 Olympics. Geddert has said he had “zero knowledge” of Nassar’s crimes.KAROLYI RANCH— USA Gymnastics said in January that the ranch outside Huntsville , Texas, would no longer serve as the national training center where a number of gymnasts said Nassar abused them. Owners Martha and Bela Karolyi have since sued the U.S. Olympic Committee and USA Gymnastics, seeking damages for a canceled sale of the property. They also have been named in lawsuits .— Debra Van Horn: Texas prosecutors in June filed sexual assault charges against Nassar and Van Horn, a trainer who worked at his side at the Karolyi ranch. She had also worked at Indianapolis-based USA Gymnastics for 30 years. She was charged with second-degree sexual assault of a child. The local prosecutor said Van Horn was charged as “acting as a party” with Nassar, but didn’t elaborate.U.S. OLYMPIC COMMITTEE— Scott Blackmun: The CEO resigned in February, citing difficulties with prostate cancer and the federation’s need to urgently move forward to deal with the sex abuse scandal. He was diagnosed with cancer earlier that winter. Blackmun left amid calls for his departure, including from two U.S. senators who said neither he nor the USOC at large properly reacted to sex abuse cases involving Nassar. The USOC is conducting an independent review of when Blackmun and others learned the details about abuse cases at USA Gymnastics and whether they responded appropriately. Gov’t in no rush to rescue animals in Taal Palace OKs total deployment ban on Kuwait OFWs Judy Ann’s 1st project for 2020 is giving her a ‘stomachache’ — Kathie Klages: The former head gymnastics coach resigned last year after she was suspended for defending Nassar over the years. Klages was charged Thursday with lying to police amid the investigation. She has denied allegations that former gymnast Larissa Boyce told her that Nassar had abused her in 1997, when Boyce was 16.— Brooke Lemmen: The former school doctor resigned last year after learning the university was considering firing her because she didn’t disclose that USA Gymnastics, which trains Olympians, was investigating Nassar.— William Strampel: The former dean of the university’s College of Osteopathic Medicine was charged in March amid allegations that he failed to keep Nassar in line, groped female students and stored nude student selfies on his campus computer. Strampel, who has also been named in lawsuits, announced in December that he was taking a leave of absence for medical reasons. The school announced that month it planned to fire Strampel. He ended up retiring June 30. He receives basic retiree health care coverage and got $175,000 — less money than he would have — while forfeiting emeritus status and other benefits typically accorded to retired executives. He is awaiting trial on the criminal charges.— Bob Noto: The university announced in February the departure of its longtime vice president for legal affairs. The school called it a retirement. Noto had been Michigan State’s general counsel since 1995. Trustee Brian Mosallam had sought Noto’s resignation.USA GYMNASTICSADVERTISEMENT
…any rank guilty of unofficial searches will be fired – CANU HeadTwo Georgetown families are now sleeping with one eye open as they remain on the alert, following a raid to their homes last Wednesday evening by persons claiming to be Customs Anti-Narcotics Unit (CANU) ranks.Carlene KishnaThe still-traumatised residents of Independence Boulevard, La Penitence, Georgetown, recently related their frustration to Guyana Times , noting how afraid they still were.Sheneza Bacchus, 41, of Lot 241 Independence Boulevard, told this publication on Monday that 10 alleged CANU ranks, two of whom were females, barged into her home about 17:00h on Wednesday last.Bacchus said she was at home with her two daughters and her son when she saw a van pull up in front of her yard and the men started kicking down her gate. The woman said she ran to her two girls, who were eating, to inform them of what was going on and by the time she got to her back door, a man approached her and demanded that she step aside.The frightened woman said she questioned the ‘officers’’ intentions when she was told they were CANU ranks who received reports that the family had drugs. The startled woman told this newspaper that she informed the men that her family was not involved with anything illegal and even requested a search warrant, but she was pushed aside.According to the woman, the men proceeded to her children’s room before ransacking the home. A female rank, Bacchus said, even demanded that she and her daughters strip.“The female rank, she tell me that I have to go in the room and strip, me and my two daughters. She stripped my big daughter first and then I said how can you strip a little girl? she is only 15, so she said okay and she didn’t touch us or anything like that. She took off her top and when they finish with those two, I tell her that ‘I am unclean, I cannot do this’, she said ‘no, you have to go through with this’, so I didn’t take off my clothes completely, I just pulled down my skirt and my top and that was it,” the woman recalled.Following the strip search, Bacchus said the female rank told the male officers that “everything was clear”.According to her, the men said they believed she had something to hide and went into the bottom flat of the house and continued with their search. After nothing was found, Bacchus said one of the men from the group said he was sorry for what happened as they were just doing their jobs.The group then proceeded to the home of Carlene Kishna, who lives a few houses away from Bacchus, who also shared her experience.Kishna told Guyana Times that the same group of men entered her home about 17:30h on Wednesday after finding nothing in her neighbour’s home.The woman, who almost had tears in her eyes, explained that she was home with her sickly husband, two children and grandchildren when the men claiming to be CANU ranks went into her home and flashed what was supposed to be an identification card in front of her face while saying that they received reports that she too had drugs and guns in her home.The mother told this publication that she requested a search warrant, but she was told that they were CANU ranks and did not require one.“When we go upstairs, one of them turn to me and say ‘(if) you have jewellery and hundreds of thousands of dollars in here, bring it out’. So I said ‘where am I going to get that sort of money from; I don’t have no money. We is poor people; we just mind two cows to survive’,” she recounted.Kishna told this publication that after the men searched for about 45 minutes, one shouted from the top flat of her home to abort the search.“When they finished I ask them what about our character and so, because this is what we gun got to be living (with), people gun got to be thinking like if we involved in some sort of illegal things … we really, really scared about this. I am calling even on the President to look into this matter, because is not right. We can’t continue living in fear like this. My children are traumatised. I am traumatised,” she added.The frustrated woman said she suspected that a neighbour, who was an ex-CANU rank, might be the one behind the searches, since they are involved in a land dispute.No record of searchThe two determined housewives, desperate to get justice, on Monday visited the CANU head office and requested to speak to the Head of the agency in relation to the matter. They were, however, unable to meet with the Head.According to Kishna, the ranks told her that they have no records of such a raid in the said area. She noted too that she was told that she could not make a report at the Police Station, because it involved CANU ranks.The Head of CANU, Michael Atherly, when contacted by this newspaper, said that he has no record of such a raid. He, however, noted that should any of his ranks be implicated in the unofficial search, they would be immediately dismissed.
160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! “The fact is, more than 50 percent of consumers choose to carry a balance from time to time or over time to manage their cash flow,” said Margo Georgiadis, executive vice president and chief marketing officer of Discover Financial. “Most of them didn’t feel rewards programs were focused on their needs; they felt they were focused on the biggest spenders.” Greg McBride, senior financial analyst with Bankrate.com, a North Palm Beach, Fla., company that tracks financial products and interest rates, said the new Discover card appeared to offer “a new wrinkle” in rewards, which he said “are continually evolving.” Motiva card holders will be able to sign up for e-mail reminders that their payments are due or for e-mail alerts if they’re approaching their credit limits. NEW YORK – Amid the growing proliferation of credit card rewards programs, Discover Financial Services has come up with a new card that rewards consumers who carry a balance and make their monthly payments on time. Discover Financial, a unit of the Morgan Stanley brokerage, said last week it will begin offering its Discover Motiva card nationwide following a six-month trial. The card also carries Discover’s regular cash-back bonus awards. The cards carry no annual fee, and consumers who make six consecutive on-time payments will receive their next month’s interest back as a bonus. They can accumulate the cash, apply it to their card balances or use it for rewards purchases, the company said. Discover Financial, which is based in Riverwoods, Ill., said the new card aims to promote good credit management.
“I saw Kenya appointed a good coach that I personally know. He will bring that professionalism in the national team but at the same time the team needs a feeder, because if you have the Under 15, 17, 18 and 19, the coach can build on that for the future, but at the moment they have to give everything for the qualifying games, believe in themselves, put in extra hard work and they will succeed,” Okoth who is in Kenya to grace the 2017 Safaricom Sports Personality of the Year Awards told Capital Sport.Harambee Stars players line up before the friendly match against Iraq in Basra. PHOTO/CourtesyHaving gone down 2-1 in their opening AFCON qualifying campaign away to Sierra Leone, Kenya will be seeking to bounce back when they host the Black Stars of Ghana in September, before facing neighbors Ethiopia who are the other opponents in Group F.Unlike in the past tournaments where only Group winners and two best losers were booking a slot to AFCON, the 2019 edition will see the top two teams head to the continental showpiece that will be hosted in Cameroon.And it’s from this perspective that Okoth sees an opportunity for Kenya who sits second bottom of the Group with no point to maneuver through, through he challenged the players to concentrate on nothing but to make the dream come true.“Ghana is a strong team having played in the World Cup, they have achieved a lot but if we train well we will beat them. In football everything is possible all the Kenyan team needs to do is work hard for it because nothing comes easy,” the 50-year-old former Kenyan striker revealed.Dennis Oliech. Photo/COURTESYWith pundits arguing that Kenya is yet to get a replacement for him and Oliech in the striking force, he said… “If you don’t score goals then we don’t have strikers so it’s a challenge to the strikers to show that we don’t miss Mike Okoth and Dennis (Oliech), so they need to prove to us that we are wrong.”Okoth, who turned out for Shabana FC and Kenya Breweries (Tusker FC) in his old days, called upon Football Kenya Federation to throw their weight behind the team and give them the necessary preparations they need.“If the federation has focus and right mind set its possible for Kenya to play in 2019 AFCON because we have talent in Kenya but nurturing it is a big problem, if you see our sporting facilities we still have a problem, if we focus on that and put the effort needed it is possible,” he noted.-Backs Divock’s decision to join Wolfsburg- 0Shares0000Koth Biro Golden Boot winner Abraham Dawo receives his trophy from former Kenyan international Mike Okoth, father to Liverpool FC forward Divock Origi. PHOTO/Timothy OlobuluNAIROBI, Kenya, Jan 16 – They may have started their campaign on a losing note against Sierra Leone, but Kenyan football retired great, Mike Okoth Origi believes Harambee Stars will qualify for the 2019 Africa Cup of Nations (AFCON) for the first time since 2004.The last time Kenya played in the Africa’s biggest competition was 14 years ago in Tunisia where, Okoth, the father of Belgian international Divock Origi featured as he partnered upfront with Dennis Oliech.However, despite admitting it will be challenging for Harambee Stars to qualify, Okoth exuded confidence in the squad as he backed head coach Paul Put as the man to quench Kenya’s thirst of competing in AFCON. Okoth, who comes from a football family with his elder brother, Austin ‘Makamu’ Oduor, having played for Gor Mahia and Harambee Stars as a defender, backed his son Divock Origi’s move to Germany top side Wolfsburg on loan.He said he needed to move to have more play time since it’s a World Cup year to increase his chances of being named in the Belgian national team squad for the global competition that will be hosted in Russia from June.”It was a tough decision for Divock to play for Belgium, but as you know he was born in Belgium and played there throughout the Belgium system all the way to the national team, so it was difficult for him to change mentally and physically from Belgium to Kenya knowing the conditions that we have in Kenya,” the uncle to former Harambee Stars goal keeper Arnold Origi stated.“He is 23 years old so he needs more game time and that’s what he was missing in Liverpool so that’s why we decided to give him a break to play in Germany to get more play time, so he will definitely come back stronger.”Divock Origi joined German top side Wolfsburg on loan from Liverpool. Photo/COURTESYOkoth challenged uprising Kenyan footballers to utilize the chances they get when they go for trials, noting that he gets disturbed when he sees players from his native country fail trials.“In our days it was difficult to turn professional and play abroad because there was no exposure so you play for the national team hoping to reach AFCON, or your club plays in bigger stage for someone to scout you,” he said.Headed, “But nowadays if you have talent you have you tube where you will showcase it. The challenge comes when one is called for trials and he fails to prove himself they need to work more before going for trials. In Belgium they youths play a minimum of 8 hours per week here (Kenya) they only play for 3 hours so that is not enough.”He had a powerful advice to Kenyan footballers who wish to emulate him or his son Divock.“Always don’t give up you because you never know when and how it will happen. Like me I never knew I will play in Europe I used to dream of going to Europe but I never knew it would happen, so work hard, no matter how difficult it might be, put extra work, believe in yourself and eventually when you have the talent someone will see you and change your life.0Shares0000(Visited 6 times, 1 visits today)
1 Mark Hughes Stoke manager Mark Hughes believes his club is now shopping in a different transfer market.The Potters recorded their best ever Premier League finish of ninth last term, with a record points total of 50, and they are currently in the same position on 47 with four matches to go.Hughes has already demonstrated his prowess in the market by persuading former Barcelona prodigy Bojan Krkic to move to the Britannia Stadium, where he was a revelation until a cruciate knee ligament injury ended his season in January.And the Welshman feels consistent finishes in the top half of the Premier League will only strengthen their hand when it comes to attracting other players.“I think we are viewed in a different light now anyway. We are working in different markets,” he said.“Players and their agents feel we are a viable option for their clients these days and that is a consequence of having, hopefully, back-to-back top-10 finishes in the Premier League and the type of football we are trying to play.“We’ve got more options and better and different choices than possibly we’ve had in the past.“This year we had Victor Moses, we’ve had other players from Chelsea, Oussama Assaidi from Liverpool, so top clubs know their players can come here and the way we play and train is very similar to what they are exposed to at the top clubs.“They know there is not that much issue in terms of adaptation when they come here.”
Adam Nagy in action for Hungary 1 Southampton are set to beat Leicester to the signing of Adam Nagy.According to L’Equipe, the south coast club are in the driving seat to land the Ferencvaros star amid strong interest from Marseille and the Premier League champions.The 21-year-old is also wanted by Benfica following an impressive breakthrough season in Hungary, including his performances for his country at Euro 2016.But Southampton appear to be on the verge of landing him, although the deal must now be sanctioned by new boss Claude Puel.
The historical Cathedral Quarter in the heart of Letterkenny is set to undergo major enhancements with a financial boost announced today.Minister for Education and Skills Joe McHugh has announced Letterkenny has secured €200,000 funding to revive and repair buildings near St Eunan’s Cathedral.“This €200,000 funding is a huge boost to efforts to bring the architectural heart of the town back to life,” Minister McHugh said. “The money will make a huge difference to the plans for the Ecclesiastical Conservation Area in the town and will enable conservation repair works to a number of buildings along Church Lane.”The funding has been secured following an application by Donegal County Council to the Historic Towns Initiative 2019, a scheme run by the Department of Culture, Heritage and the Gaeltacht in conjunction with the Heritage Council.Minister McHugh said: “Letterkenny is only one of six towns to have made the cut in this latest boost to local heritage and history and culture.“Donegal County Council also deserves praise here for identifying the potential in the cathedral area of the town and pitching for this really important fund. “It is about using our heritage, our special local history, to drive the regeneration in a special part of the town.“And funding of this scale is also about this Government recognising the importance of our heritage and it’s legacy – ár n-Oidhreacht – the history that it has been left for us to preserve and pass on to the next generation.”Letterkenny Cathedral District awarded €200,000 funding boost was last modified: March 3rd, 2019 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)
If you’re thinking about booking summer holidays, then you don’t have far to look for quality service as a travel agency in Letterkenny has been officially named as one of the best in Ireland the UK. Atlantic Travel has earned a place on the Top 50 power-list of agencies by industry bible the Travel Trade Gazette. Atlantic Travel was one of only three agencies in the Republic of Ireland category to earn a place in this prestigious list. More than 500 travel agencies and branches put themselves forward for consideration for TTG’s Top 50 Travel Agencies 2019 – in association with Kuoni – from which a shortlist of 100 finalists across 20 categories was devised. The TTG Top 50 Travel Agencies list was revealed in a glittering ceremony in Birmingham on Thursday night after an extensive judging process, which saw agents rated by tour operators and other suppliers, and then assessed by travel trade journalists. TTG group editor Pippa Jacks said: “Now in its fourth year, our Top 50 Travel Agencies initiative has seen us tour the length and breadth of the UK and Ireland to uncover its most dedicated and innovative travel agency businesses. “Our winners demonstrate that travel retailing in 2019 is a vibrant and successful business sector, and that experienced travel professionals continue to add value through their expertise and by delivering extraordinary service to their customers.” “Each agency that earned a place in our Top 50 list this year worked hard to impress our judges and should feel incredibly proud of what they have achieved.”Mary T. Toye and Caroline Kerr looking after a customer at Atlantic Travel Worldchoice, LetterkennyEmma McHugh who is a partner and the Manager of Atlantic Travel said “We are absolutely thrilled to have been awarded this accolade by TTG. Our passion and dedication to travel is always at the heart of what we do and we are so proud of this recognition.”The shortlisting stage was undertaken by a panel of 60 travel suppliers including airlines, tour operators and car hire providers, who rated hopeful agencies according to their business performance, customer service and expertise. To decide which shortlisted agencies made it into the Top 50 list, a TTG journalist visited or interviewed each shortlisted agency to carry out an assessment. Find the full Top 50 shortlist and more information on the process at ttgtop50.com Atlantic Travel Agency named one of the best in Ireland and UK was last modified: April 29th, 2019 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:atlantic travelholidaystravel agent
After a thorough environmental analysis, the bank’s environmental appraisal report concluded that fossil fuels would remain dominant in South Africa’s energy mix for some time, but technologies to reduce greenhouse gas emissions are being developed globally and Eskom’s projects will use some of these technologies to reduce emissions. “Building a sustainable and secure energy supply is one of many priority areas that the DBSA will aggressively pursue to complement the government development agenda to address key development and socio- economic issues faced by the country,” Baloyi said. Reducing environmental impact Speaking at the media briefing in Johannesburg this week, DBSA chief executive Paul Baloyi said: “This deal signifies a major step change aimed at ensuring that South Africa’s long term electricity supply meets demand to ensure the economy can thrive.” It will also have a significant impact on the economies and communities of the towns in which the new power stations are located. The projects include the Medupi and Kusile coal-fired power stations as well as the Ingula Pump Storage scheme and associated transmission infrastructure. Eskom CEO Brian Dames welcomed the recognition by the DBSA of the critical role that Eskom and its capacity expansion programme have to play in supporting South Africa’s growth and development. Baloyi added that the municipal sector currently constitutes 50% of the DBSA’s loan book. “Electricity is a major component of municipal revenue, and it is only logical for the Bank to contribute to the funding of projects that will help to ensure a secure supply of energy for South Africa,” he said. Eskom’s capacity expansion projects will add 12 300 megawatts of additional generating and transmission capacity to South Africa’s national grid by 2017, enabling it to keep up with growing demand. Supporting growth and development Eskom’s capacity expansion programme is expected to have large spin-off effects, creating 40 000 new jobs, stimulating the creation of new industries and new suppliers, and adding almost 1% a year to the economic growth rate. “Our new build programme is essential to provide the security of supply that South Africa needs if it is to grow its economy and improve the quality of life for all of its people,” Dames said. “The loan is a vote of confidence by the DBSA in Eskom. Securing future energy supply “It will help us to provide South Africa with the power stations and transmission infrastructure it needs while ensuring that Eskom remains financially sustainable.” Like any other transaction, the Eskom loan was subjected to the DBSA’s environmental appraisal guidelines, which found that Eskom has the institutional capacity to address current and future climate change related risks. 4 November 2010 State power utility Eskom has secured a R15-billion loan from the Development Bank of Southern Africa (DBSA) to fund its capital expansion programme. The loan, which is a structured facility that will be drawn over five years, does not utilise guarantees from the South African government. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material