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Business Journals
24-07-2025
- Business
- Business Journals
PG&E initiatives drive small business resilience and growth
As the Sacramento region continues to grow, Pacific Gas and Electric Company (PG&E) is doing more than just powering businesses -- it's helping them thrive. Through a variety of tailored programs, PG&E is helping small and medium businesses save energy, reduce costs and operate more efficiently from day one. PG&E serves more than 19,000 small and medium business customers in Sacramento, Yolo, Placer and El Dorado counties. In just the past three years, those businesses have collectively saved over 440,000 kilowatt-hours (kWh) of energy -- enough to power about 42 average homes for an entire year. These businesses have also received more than $544,00 in energy efficiency incentives through PG&E's rebate and financing programs. PG&E has a Small Business Engagement (SBE) Team that provides dedicated support to small businesses by making personalized calls, launching regional campaigns and working with local partners. Their goal is to ensure customers know about every available resource. Let's take a deeper dive into those programs and resources. Support starts early -- with PG&E's Welcome Series. As part of this new initiative, SBE representatives reach out to new business owners during the first six weeks of service to offer personalized guidance so they can take control of their energy use from the start. 'This early outreach is more than just connecting a business to the grid,' said Joe Wilson, vice president for PG&E's North Valley & Sierra region. 'It's about building trust and showing business owners we're here to help them succeed long-term.' For businesses facing financial challenges, PG&E offers Thrive, a no-cost operational assessment that identifies ways to cut costs, boost efficiency, and improve comfort for both employees and customers. You can contact your local representative for more details. PG&E also provides high-impact programs that help businesses continue growing and saving, even years after opening their doors. For example, PG&E's Rate Analysis Tool helps customers find the most cost-effective electric rate plan for their operations. The SBE team runs two targeted rate analysis campaigns each year—one focused on agricultural businesses and another for general business customers. In 2024 alone, this campaign effort saved small business customers across PG&E's service area a combined $5.4 million. PG&E's On-Bill Financing (OBF) program offers interest-free loans for energy-efficient upgrades, with payments made through the customer's monthly PG&E bill. In most cases, the energy savings offset the loan payments. Paired with Customer Energy Efficiency (CEE) rebates, these tools have had a measurable impact. Additional tools for long-term growth Simplified Savings Program – Free energy assessments and upgrades for businesses in disadvantaged communities. Rebates for food service equipment -- Rebate programs that will help you save money and improve productivity when you upgrade your food service equipment. Food Service Technology Center -- Access key training programs, design consultants and test kitchen plans to improve your operations and energy efficiency. Budget Billing -- The program averages out your monthly bill to determine your monthly payment, instead of having unpredictable summer bills. Economic Development Rate. This offers eligible business customers the opportunity to lower costs through one of three reduced electric rate options. PG&E developed this rate to help businesses grow or maintain jobs in California. The standard 12% rate is available throughout our service territory. Small businesses make up 99% of PG&E's commercial customer base, and the company is committed to serving them with local solutions and lasting support. 'Small businesses are the backbone of our communities, and we're proud to support them with tailored energy solutions, cost-saving programs, and local partnerships,' said Wilson. 'We're committed to helping small business owners thrive by making energy more affordable, reliable, and accessible.'
Time of India
04-07-2025
- Business
- Time of India
India is institutionalizing outcome-based financing for skilling: Jayant Chaudhary
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India is institutionalizing outcome-based financing , and not just experimenting with it, to build a resilient, inclusive skilling ecosystem in the country, Jayant Chaudhary, minister of state (independent charge) for the ministry of skill development and entrepreneurship said.'Models like the Skill Impact Bond and Project AMBER demonstrate how public funds, philanthropic capital, and private investment can come together to drive measurable social impact at scale,' he said while speaking at a panel discussion in the fourth international conference on financing for development (FfD4) in Seville, to a statement issued by MSDE, minister Chaudhary reiterated that India stands ready to partner with global stakeholders in taking these models to Financing (OBF) is emerging as a powerful tool to ensure that public investment translates into real, measurable outcomes — especially in critical areas like skilling, employment, and women's Skill Impact Bond links funding to achievement of outcomes, inverting the process of conventional grant-making which often funds activities and inputs. The initial financing to training providers is supported by risk investors, who are repaid by outcome funders on the achievement of predetermined, independently verified outcomes achieved by training results in maximum impact for money spent, aligned incentives between partners, thus creating measurable social impact that spur social Skill Impact Bond aims to benefit 50,000 young Indians over four years, with 60% of the beneficiaries being AMBER or the Accelerated Mission for Better Employment and Retention is a joint initiative by the ministry of skill development and entrepreneurship (MSDE), National Skill Development Corporation (NSDC), and Generation India Foundation (GIF).It focuses on improving employment and retention outcomes for 30,000 trainees, with a target of 50% women institutionalizing OBF, India is not only enhancing transparency and accountability in its development financing but also creating a replicable model for the world, MSDE strong partnerships, robust data systems, and a shared commitment to results, India is positioning itself as a global leader in leveraging innovative finance for inclusive and sustainable growth, it added.
Fintech News ME
16-06-2025
- Business
- Fintech News ME
Kuwait Releases Draft Framework to Guide Open Banking Adoption
The Central Bank of Kuwait has published a draft of its Open Banking Framework (OBF), outlining the country's early steps towards enabling data sharing across the financial services ecosystem. The framework aims to provide banks and fintechs with a structure to offer open banking services that are secure, standardised, and based on customer consent. The OBF has been introduced in light of the increasing role of technology in Kuwait's financial and payments sectors. It is positioned as a mechanism to support the development of digital banking services, with potential benefits for regulators, banks, Open Banking Service Providers (OBSPs), and consumers. The draft is built around four guiding principles: utility, transparency, security, and adoption. These principles are intended to ensure that Open Banking in Kuwait delivers practical value, maintains clarity around data use, balances convenience with protection, and considers overall market readiness and cost implications. The framework includes a series of supporting documents, which outline technical, operational, and regulatory requirements for participants. These documents cover areas such as regulatory instructions for onboarding and dispute management, customer experience guidance, consent management, API design, technical specifications (including Swagger codes), security standards, operational procedures, and monetisation considerations. Kuwait's Open Banking Framework remains in draft form and is subject to further consultation. Financial institutions and relevant stakeholders are encouraged to review the documentation and provide feedback as the framework continues to develop.
Business Recorder
28-05-2025
- Business
- Business Recorder
Body on Social Impact Finance: Progress on initiatives reviewed
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Tuesday chaired a high-level meeting to review the progress on outcome-based funding initiatives recommended by the Committee on Social Impact Finance, a body constituted by the Prime Minister to spearhead innovative and inclusive financial solutions in Pakistan. The meeting brought together senior representatives from Pakistan's financial sector, including commercial banks, development finance institutions (DFIs), regulators, and investment experts, who form the core of the MOF-led Task Force. The session marked a follow-up to the recently concluded two-day Impact Financing Workshop and Training, held in the federal capital and organized by the Ministry of Finance in collaboration with Karandaaz Pakistan and the Pakistan Banks Association (PBA) under the theme 'From Value to Vision: Financing with Purpose from Pakistan's Financial Sector'. Social impact financing: PM panel outlines key priorities The workshop, inaugurated by Finance Minister Senator Muhammad Aurangzeb, covered key topics such as strategic intent in financing, impact governance, portfolio-level impact design, outcomes at exit, and independent validation. Through interactive case studies, peer-learning engagements, and scenario-based exercises, participants developed actionable strategies to embed impact into financial decision-making processes. During today's review session, the Task Force presented detailed findings and recommendations focused on steering the financial sector towards sustainable, inclusive, and impact-driven innovation. Central to the discussions was the Social Impact Financing (SIF) Framework, a comprehensive model co-developed with experts from health, poverty alleviation, and skills development sectors under the aegis of the Ministry of Finance. The framework lays out six priority pillars and is designed to mobilize private sector capital towards verified, outcome-based public good initiatives. The Task Force emphasized that Outcome-Based Financing (OBF) represents a transformative shift from input-oriented funding models to results-linked investments. By tying disbursements to independently validated outcomes, OBF seeks to enhance transparency, accountability, and efficiency across Pakistan's development finance architecture. This model has the potential to unlock both private and philanthropic capital, directly address delivery challenges, and ensure smarter targeting of resources. Five prototype OBF initiatives were showcased to the Minister, including: Graduation of ultra-poor, female-headed households out of poverty within five years. Enhanced income generation for farmers through agronomic support. Financial inclusion and poverty alleviation via agri-warehousing. Social impact financing in the healthcare sector. Human capital development through skills training and employment-linked education. The Task Force highlighted that the SIF Framework is a strategic blueprint aligned with the Sustainable Development Goals (SDGs), aiming to blend financial returns with measurable social outcomes. It recommends the creation of innovative financial instruments, de-risking solutions, and incentive mechanisms to attract long-term private sector participation in development. In his remarks, Finance Minister Senator Muhammad Aurangzeb expressed appreciation for the Task Force's collaborative efforts and emphasized the critical role of private capital in catalyzing macroeconomic transformation. He noted the interconnected nature of healthcare and wellbeing with all six priority development pillars, and underscored human capital development as central to the country's sustainable growth agenda. He also stressed the need for upskilling and re-tooling of the workforce to meet emerging industry demands, suggesting closer integration between economic activity and vocational training. The meeting concluded with a commitment to take forward the Task Force's recommendations for presentation to the Prime Minister for policy integration, institutional mainstreaming, and piloting of selected OBF models. Copyright Business Recorder, 2025
Time of India
04-05-2025
- Business
- Time of India
Pay for play: How DJs, donors and dharma fuel India's outcome obsession
'What gets measured gets managed,' noted Peter Drucker wisely, In the world of projects, infrastructure and government schemes, measurement and management is difficult. The challenge lies in effectively measuring outcomes to ensure resources are allocated efficiently and lead to meaningful impacts. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad Arthashastra, Chankaya's 4th c. BCE treatise on statecraft and economic policy, prescribed results-linked rewards for state officials, ensuring efficiency and accountability. This was an early manifestation of today's outcome-based financing (OBF). Mahabharata mentions Yudhishthir's 'Rajasuya yajna', which allocated responsibilities and honours based on demonstrated contributions, mirroring modern principles of disbursement-linked indicators (DLI). Even temple economies functioned on an outcome-driven model, where grants were contingent upon their societal impact, much like today's output-outcome monitoring framework (OOMF). The gurukul system also followed a performance-linked structure, where 'guru dakshina' of students was determined by the practical impact of their learning, a la today's programme-for-results ( PforR ) funding in education and skill development. No doubt the terminology has evolved. But the fundamental concept remains the same: financial disbursements should be tied to measurable results. Today, multilateral donor agencies like World Bank , Asian Development Bank (ADB) and African Development Bank (AfDB) have embraced these principles, using OBF instruments to drive efficiency, accountability and sustainable impact across infrastructure and development projects. OBF has been particularly successful in large-scale infra projects, where defined, tangible outcomes ensure that financing leads to real-world impact. Multilateral donor agencies increasingly rely on PforR, DLI and OOMF to ensure projects deliver on their promises. Live Events Take World Bank's PforR initiative in Tanzania, where financing has been directly linked to improved road quality, maintenance efficiency and rural connectivity. Funds are disbursed only when specific milestones, like length of roads upgraded, safety enhancements and improved access for local communities are achieved. This has minimised project delays, reduced corruption and ensured long-term sustainability. Egypt's AfDB-backed urban transport modernisation programme deployed DLI-based financing to enhance metro expansion and integrate intelligent transport systems. By tying financial releases to milestones like improved passenger capacity, less travel time and emission reductions, the programme has led to significant upgradations in urban mobility. In Brazil, results-based financing in water supply and sanitation infra has been instrumental in expanding pipeline networks and wastewater treatment facilities. Rather than disbursing funds based on project inputs, financial flows were tied to measurable improvements in water quality, service accessibility and sustainability indicators. This model has ensured that investments translate into real benefits for communities, rather than just fulfilling construction targets. In India, under the World Bank-supported PforR in AMRUT 2.0 (Atal Mission for Rejuvenation and Urban Transformation), funds were released to states based on achievements across indicators like universal water supply coverage, energy-efficient water systems and improved service-level benchmarks. The performance-based disbursement structure has encouraged states to prioritise outcomes over inputs, leading to faster implementation and enhanced citizen-centric results. As governments face pressure to optimise resources and ensure value-for-money investments, integrating OBF into future transportation, energy, water and urban development projects is imperative. Applying this mechanism to social sector programmes requires a more nuanced and cautious approach. Unlike roads, bridges or power grids where results can be measured within a fixed timeline, social impact outcomes are often long-term, qualitative and influenced by multiple external factors. In education, improvements in student learning, literacy rates or employability may take years, if not decades, to materialise. Similarly, in public health programmes, interventions aimed at reducing child malnutrition or improving maternal health require continuous, multi-year investments. This poses a fundamental challenge for OBF mechanisms like PforR, which prioritise measurable, time-bound indicators. If not carefully designed, these models may promote short-termism, prioritising quick wins over long-term systemic change. An education programme tied to immediate improvements in test scores may lead to teaching-for-exam strategies, rather than fostering deep, conceptual learning. National Education Policy (NEP) 2020 recognises such complexities, and emphasises outcome-oriented learning, foundational literacy and skill-based education. While not structured as an OBF programme, it lays the groundwork for performance-linked financing by promoting competency-based assessments and measurable learning outcomes. This alignment opens up opportunities to design future education programmes that balance long-term systemic reform with results-driven accountability. To integrate OBF in the social sector, financing frameworks must be more flexible, incorporating qualitative assessments, longer evaluation horizons and mixed funding approaches that account for both immediate results and long-term impact. Development institutions must also recognise that in healthcare, education and social protection, success is often incremental and dependent on behavioural and systemic shifts. As resources become increasingly linked to results, creating effective, inclusive and sustainable OBF models will be crucial for driving real change in communities. Pachori is director, ministry of education, GoI, and Jha, is associate director, KPMG
