Latest news with #ICRF
Daily Tribune
2 days ago
- Business
- Daily Tribune
ICRF Bahrain Celebrates International Yoga Day 2025 with Amad Group Employees
TDT I Manama pradeep@ The Indian Community Relief Fund (ICRF) Bahrain marked International Yoga Day 2025 by organizing a refreshing yoga session for over 100 employees of Amad Group of Companies in Askar. The event, held on Thursday, June 19, 2025, aimed to promote well-being and a healthy lifestyle among the community. The one-and-a-half-hour session was expertly led by Yoga Instructor Mr Pradeep Kumar, who guided participants through a series of beneficial asanas and shared valuable tips for healthy living. The yoga session saw active participation from ICRF leadership, including Chairman Adv. V.K. Thomas, Advisor Dr. Babu Ramachandran, Vice Chairman Prakash Mohan, General Secretary Aneesh Sreedharan, Joint Secretary Suresh Kumar, and Yoga Day Coordinator Sunil Kumar. Other prominent ICRF members like Ajayakrishnan, Chemban Jalal, Nasser Manjeri, John Philip, Muralikrishnan, Rajeevan, and Deepshikha also joined. Representatives from Amad Group's Ascon Control WLL were also present, with General Manager Anindya Haldar, Assistant General Managers Vasudevan C and Ranjith Lakshman, Technical Director Nithyananda, and HR Manager Shibu Mundukattil participating in the communal practice. The initiative highlights ICRF's commitment to the welfare of the Indian community in Bahrain, fostering health and harmony through such engaging programs.
Daily Tribune
6 days ago
- Health
- Daily Tribune
BDK Bahrain Honors 19 Organizations for Contributions to Blood Donation
TDT I Manama On the occasion of World Blood Donor Day, the Blood Donors Kerala (BDK) Bahrain Chapter honored 19 organizations that collaborated with them in organizing blood donation camps. The organizations felicitated were: ICRF, All Kerala Drivers Freeakers, Beats of Bahrain, Institute of Chartered Accountants of India, Kayamkulam Pravasi Koottayma, World Malayalee Federation, Edappalayam Bahrain Chapter, Voice of Trivandrum, Science of Spirituality, Pavizha Dweepile Ponnanikkar, Gurudwara Singh Sabha, Sachin Cricket Club, KIMS Hospital, Gudaibiya Koottam, OICC Bahrain, Bahrain Malayalees Pravasi Forum, Malabar Adukkala, Asri Labour Union, and Palakkad Pravasi Association. The event was attended by renowned historical author P. Hareendranath, ICRF Chairman Adv. V. K. Thomas, BDK Bahrain Patron Dr. P. V. Cherian, KIMS Hospital Bahrain Sales Manager Pyari Lal, Middle East Hospital Ayurveda Doctor Dr. Athulya Unnikrishnan, along with BDK Bahrain Chapter office bearers and executive committee members.
Zawya
27-02-2025
- Business
- Zawya
European Investment Bank (EIB) backs Africa Finance Corporation $750 Million Climate Resilient Infrastructure Fund
The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) ( in financing a $750 million Infrastructure Climate Resilient Fund (ICRF). This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa. As part of this commitment, the EIB today confirmed it will invest $52.48 million in the Fund, which is managed by AFC Capital Partners (ACP), the asset management arm of AFC. ACP has already secured a $253 million commitment from the Green Climate Fund (GCF), marking GCF's largest-ever equity investment in Africa. In addition, the Nigeria Sovereign Investment Authority (NSIA) and two private African pension funds have also committed to the Fund, demonstrating robust institutional backing on the continent and internationally. The Infrastructure Climate Resilient Fund aims to accelerate climate adaptation in Africa by embedding resilience measures at every stage of infrastructure development—from design and construction to operation. Using blended finance to de-risk private investment, the Fund also integrates innovative tools such as climate risk parametric insurance to enhance protection against climate-related risks and losses. In addition, the Fund will provide technical assistance to enhance the capacity of countries seeking climate risk assessment and adaptation, aligning with the European Union's Global Gateway initiative and the UN Sustainable Development Goals. The EIB formally signed the agreement at the Finance in Common Summit (FICS) in Cape Town today, demonstrating the close collaboration between the EIB, AFC, and other strategic partners. "The EIB is committed to supporting private sector investment in climate-resilient infrastructure, especially in regions most vulnerable to climate change,' EIB Vice-President Ambroise Fayolle stated at the ceremony today. 'This partnership with the Africa Finance Corporation and the launch of ACP's Infrastructure Climate Resilient Fund are a significant step towards accelerating Africa's green and digital transition and ensuring a sustainable future for all. The EIB's investment is not just about the initial capital injection; it is also intended to have a multiplier effect by attracting more investors, reducing risk, showcasing successful projects, and promoting best practices in climate finance." ACP's fund aims to demonstrate that Africa can pursue a climate-resilient and sustainable development path by addressing market failures, mitigating environmental risks, strengthening logistics, trade, and industrialization, and accelerating the continent's digital and energy transition. "This Fund is crucial for bridging the funding gap for climate adaptation in Africa,' Samaila Zubairu, AFC's President&CEO, said at the launch event today. 'By focusing on climate-resilient infrastructure, we are not only securing our economic future but also creating opportunities for sustainable growth, and supporting job creation across the continent. We are glad to partner with the EIB and other investors who are committed to increasing the impact of climate finance.' Developing Climate-Resilient Infrastructure The ICRF focuses on Africa, the world's most climate-vulnerable continent, by investing in infrastructure that can withstand the impacts of climate change while reducing carbon emissions. The Fund prioritizes resilient, low-carbon solutions across transport and logistics, clean energy, digital infrastructure, and industrial development, ensuring sustainable growth. ACP's investment strategy evaluates climate risk across both physical and transition dimensions, including emissions and climate governance. The Fund is committed to ensuring that infrastructure assets are designed, built, and operated to withstand and adapt to evolving climate conditions. To achieve this, ACP will conduct rigorous climate risk screenings and assessments for every investment, establishing a new benchmark for selecting and implementing the most effective adaptation solutions. The Fund leverages a powerful partnership between three major institutions—EIB, AFC, and GCF—uniting their expertise, capital, and commitment to climate resilience. Aligned with the EIB's Climate Bank Roadmap, ACP will draw on the proven track records and deep technical expertise of both EIB and AFC in infrastructure investment, creating a compelling platform to attract additional investors. Through this strategic collaboration, the $750 million fund is poised to unlock up to $3.7 billion in financing, accelerating the deployment of climate-resilient infrastructure across Africa. The GCF will play a critical role by providing technical assistance for due diligence and climate resilience monitoring while also covering the first-loss tranches on new investments, effectively de-risking projects and attracting private capital. Once operational, the Fund aims to invest in a diversified portfolio of 10 to 12 projects across Africa. It will also assist countries and entities in capacity building and deployment of climate risk assessment and adaptation solutions. Further Information Leveraging Partnerships The Fund is built on a powerful partnership between three major institutions: the European Investment Bank (EIB), Africa Finance Corporation (AFC), and the Green Climate Fund (GCF). Through its asset management arm, AFC Capital Partners (ACP), AFC is collaborating with the EIB to deploy the Fund, leveraging both institutions' proven track records and technical expertise in infrastructure investment to attract additional investors. The partnership is further strengthened by the GCF's critical role in providing first-loss protection and technical assistance, ensuring a robust framework for scaling climate-resilient infrastructure across Africa. Mobilizing Climate Finance The EIB's $52.48 million commitment is a strategic step toward the Fund's $750 million target, aimed at catalysing additional investments from both private and public sector partners into climate-resilient infrastructure. This commitment is expected to help mobilize approximately $3.7 billion in total financing, driving tangible, on-the-ground impact across Africa. Focusing on EIB's core priorities agreed by ECOFIN The EIB investment will support the climate bank ambition to accelerate international action on adaptation and resilience. With an expected climate action and environmental sustainability contribution of about 80%, the operation will contribute to EIB's objectives to dedicate (i) 50% of its financing toward climate action and environmental sustainability and (ii) 15% of its financing toward to climate adaptation by 2025. The Fund supports three of the five EU Global Gateway thematic priorities: i) climate and energy, ii) transport and iii) digital. Addressing Market Failures The EIB investment in ACP's Infrastructure Climate Resilient Fund is intended to address the scarcity of equity capital for greenfield infrastructure projects, and to help overcome other market failures such as the lack of incentives for green energy solutions or market failures related to transport accessibility and digital connectivity. The Fund also aims to improve the efficiency of logistics and trade corridors and contribute to the digital and energy transition. Supporting the Green and Digital Transition By investing in clean energy and digital infrastructure, the Fund aims to support the broader green and digital transition in Africa and contribute to diversification and security of energy supply, as well as improved access to digital connectivity. Enhancing Capacity for Climate Risk Management ACP's Infrastructure Climate Resilient Fund will provide technical assistance to build capacity for climate risk assessment and adaptation, with a focus on integrating climate risk considerations into project design and construction. Creating Jobs and Economic Opportunities Projects backed by ACP's Infrastructure Climate Resilient Fund will contribute to job creation, economic growth, and improved quality of life in the target regions. These projects are expected to generate significant temporary employment during construction as well as permanent jobs during operation. Key projects in the ICRF pipeline, such as the Lobito Corridor, underscore AFC's pivotal role in driving transformational and climate-resilient infrastructure investments across Africa. As the lead developer of the project, AFC is spearheading efforts to enhance regional connectivity and economic integration through the corridor, which is set to become a critical trade and logistics route linking Angola, the Democratic Republic of Congo (DRC), and Zambia. The Lobito Corridor is expected to unlock vast economic opportunities by facilitating efficient transportation of critical minerals, agricultural goods, and other commodities, reducing dependency on other congested export routes and fostering industrial development along the wider corridor. Alongside partners including the European Union, the United States Government, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia, AFC is working to ensure the corridor is developed with climate resilience in mind, integrating sustainable infrastructure solutions that can withstand environmental challenges while promoting long-term economic growth. Beyond Lobito, the ICRF pipeline includes other strategic projects across transport, clean energy, and digital infrastructure, all designed to attract institutional investment and address Africa's pressing infrastructure gap. Through these initiatives, ACP continues to highlight its commitment to mobilizing capital for projects that deliver both financial returns and lasting developmental impact. The investments backed by the Fund will actively promote the adoption of Environmental, Social, and Governance (ESG) best practices, including gender equality, protection, and anti-discrimination policies. De-risking Investments The Fund's structure, with support from the EIB and other institutions like the Green Climate Fund (GCF), aims to de-risk climate investments. The GCF is providing grant funding to help with due diligence and monitoring of climate resilience, which can make the investments more attractive to other investors. Additionally, the Fund will integrate innovative climate risk insurance to complement traditional indemnity programs. Aligning with Global and Regional Objectives The EIB investment aligns with EU strategies, the African Union's Agenda 2063, and the UN Sustainable Development Goals, and aims to support the implementation of Nationally Determined Contributions. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Press contacts: Richard Willis tel.: +352 43 79 82155 Mobile: +352 621 55 57 58 Website: Press Office: press@ Yewande Thorpe tel +234 1 279 9654 Website: Press office: communications@ Social Media: Twitter: Facebook: Instagram: YouTube: RSS Feed: LinkedIn: Follow EIB Global on: Twitter: LinkedIn: About EIB Global EIB Global ( is the EIB Group's specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe ( alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world ( About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Daily Tribune
23-02-2025
- General
- Daily Tribune
Winter Fest 2025 by ICRF: Celebrating Workers' Day with Games, Music, and More
The Indian Community Relief Fund (ICRF) celebrated Winter Fest 2025 on Friday, 21 February, in honor of Workers' Day, with a vibrant event aimed at boosting the morale of low-income workers in Bahrain. Held at the Kerala Catholic Association's (KCA) premises, the celebration attracted around 250 workers from various labour camps. The Winter Fest featured an exciting lineup of activities, including games, sports, and performances by the workers themselves, showcasing their talents through dancing and singing. The event not only provided a festive atmosphere but also aimed to raise awareness about the support systems available for workers in the community. ICRF's Workers' Day initiative continues to focus on creating a sense of unity and well-being among workers, reinforcing the importance of community and mutual support.
Daily Tribune
08-02-2025
- General
- Daily Tribune
ICRF Women's Forum Hosts Fun Day for Low-Income Women
The Women's Forum of the Indian Community Relief Fund (ICRF) recently organized a heartwarming Fun Day for women from low-income backgrounds, fostering a sense of community and joy. Held at Andalus Garden, the event drew nearly 40 participants, beginning with a cake-cutting ceremony to mark the occasion. The celebration featured an array of cultural performances that showcased the vibrant spirit of the community. Participants also enjoyed a series of interactive games that encouraged bonding and fun. The event concluded with the distribution of lunch packs and thoughtful gift hampers for all attendees. The ICRF Women's Forum remains committed to its mission of empowering women, providing support, and enhancing communication within the community. Through such initiatives, the forum continues to create a platform for women to engage, strengthen their resilience, and inspire one another.
