The US Agency for International Development (USAID) and the Swedish government on Monday announced a US$25 million grant program to increase access to clean water for farming.
The Securing Water for Food program is intended to fund innovators and help their businesses take root in countries where the technology is desperately needed.
“Almost 3 billion people on the planet right now live in areas impacted by water scarcity,” USAID Global Water Coordinator Chris Holmes said. “We want to take technology that has already proven it works and use the grant money to overcome hurdles to get it into countries that no one has bothered or been able to get into, like sub-Saharan Africa.”
Grants were expected to range between US$250,000 and US$1 million for winning proposals.
“It is not just putting up cash; it is making a commitment that we will work closely with them to overcome obstacles in a developing country to try to build out a new technology,” Holmes said.
Grants will be awarded in categories such as improving water reuse and countering intrusion of salt water into rivers, streams, deltas or underground aquifers.
“In a finite biosphere, solutions to pressing water challenges require new thinking and innovative financing,” Swedish Minister for International Development Cooperation Gunilla Carlsson said in a statement. “Through a catalytic use of aid, Securing Water for Food will be able to capture and support the implementation of innovative ideas and new technologies for better water efficiency and sustainable development.”
“Water scarcity and its impact on food security affect everyone on the planet,” USAID Administrator Rajiv Shah said. “By harnessing the expertise and creativity of the world’s brightest innovators, we can tackle this critical challenge with new thinking and partnerships.”
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
AVIATION: Despite production issues in the US, the Taoyuan-based airline expects to receive 24 passenger planes on schedule, while one freight plane is delayed The ongoing strike at Boeing Co has had only a minor impact on China Airlines Ltd (CAL, 中華航空), although the delivery of a new cargo jet might be postponed, CAL chairman Hsieh Su-chien (謝世謙) said on Saturday. The 24 Boeing 787-9 passenger aircraft on order would be delivered on schedule from next year to 2028, while one 777F freight aircraft would be delayed, Hsieh told reporters at a company event. Boeing, which announced a decision on Friday to cut 17,000 jobs — about one-tenth of its workforce — is facing a strike by 33,000 US west coast workers that has halted production
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more