Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Archive for 1 aprile 2013

Micron Notes Appeal of Tokyo District Court’s Approval of Elpida Reorganization Plan

Posted by fidest press agency su lunedì, 1 aprile 2013

Boise, Idaho, (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq:MU) (“Micron”) today noted that certain unsecured creditors of Elpida Memory Inc. filed appeals in Tokyo on Friday, March 29, of the Tokyo District Court’s February 28 order approving Elpida’s plan of reorganization. Elpida’s reorganization plan calls for Micron to sponsor Elpida’s reorganization under which Elpida will become a wholly-owned subsidiary of Micron. The Tokyo District Court’s approval followed an Elpida creditor vote, concluded on February 26, in which the creditors voted overwhelmingly to approve the reorganization plan.”Elpida trustees and the court ran a very thorough and competitive sponsor selection process before selecting Micron as the sponsor,” said Micron CEO Mark Durcan. “Their decision and plan of reorganization was confirmed by the successful vote of the creditors in February. We are confident the Tokyo District Court’s approval of Elpida’s reorganization plan will be upheld.”The closing of the transaction remains subject to the satisfaction or waiver of certain conditions—including finalization of the Tokyo District Court’s approval order under Japanese bankruptcy rules and recognition of Elpida’s reorganization plan by the United States Bankruptcy Court for the District of Delaware (or the completion or implementation of alternative actions providing a substantially similar effect). It is estimated the appeal process of the Tokyo District Court’s approval order will take approximately three to four months.

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World Bank Approves GEF and PPCR-supported Project to Help Communities in Tajikistan

Posted by fidest press agency su lunedì, 1 aprile 2013

Washington. The World Bank Board of Executive Directors today approved a US$14.85 million grant for the Tajikistan Environmental Land Management and Rural Livelihoods Project, which aims to support more sustainable management of natural resources and increase the resilience of communities to climate change impacts.The Tajikistan Environmental Land Management and Rural Livelihoods Project is being financed through a US$9.45 million grant from the Pilot Program for Climate Resilience of the Strategic Climate Fund (PPCR) and a US$5.4 million grant from the Global Environment Facility (GEF) Trust Fund. Tajikistan is one of 18 countries participating in the PPCR supported by Multilateral Development Banks. In Tajikistan, the participating Banks are the World Bank, the European Bank for Reconstruction and Development, and the Asian Development Bank.“Tajikistan is prone to natural disasters and it is assessed as the most vulnerable country to the impacts of future climate change in the Europe and Central Asia region. The project will help communities better understand how climate change may affect their land, water supply, livestock and crops. By using sustainable natural resource management practices that work well in Tajikistan, communities will have greater food security now and for the years to come,” said Marsha Olive, World Bank Country Manager for Tajikistan.The agriculture sector is important for Tajikistan, as it accounts for 21 percent of GDP and 64 percent of employment. The project aims to benefit farmers by helping them carry out more effective and sustainable production and land management practices, and thereby help build their resilience to climate change. The project will also support analytical work and capacity-building in areas related to climate change risks and adaptation, integrated land, water and grazing management, and incentive-based approaches for sustainable land management. The direct beneficiaries are expected to be at least 21,000 rural households or 126,000 people in selected project sites.Tajikistan’s trust fund portfolio — one of the largest in Europe and Central Asia — remains an important supplement to the resources from the International Development Association (IDA), accounting for about 30 percent of total combined commitments in 2010–12. The Tajikistan portfolio includes 47 trust-funded operations with US$87 million in commitments. The active portfolio of the World Bank in Tajikistan currently consists of 14 projects with a net commitment of around US$232.8 million. The largest share of the portfolio is in agriculture and rural development (27 percent), followed by energy (24 percent), water and sanitation (18 percent), human development – education, health, and social protection (24 percent), the private sector (4 percent), and the public sector (2 percent).

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