Impact Fund Surpasses $17 Million for Sustainable Coastal Fisheries in Indonesia and the Philippines

ARLINGTON, Va. (PRWEB) November 20, 2017

The Meloy Fund I, LP (the “Fund”), an impact investment fund dedicated to promoting sustainable coastal fisheries in Indonesia and the Philippines, today announced closing an additional $7 million of funding and finalizing a partial guarantee with the U.S. Agency for International Development through its Development Credit Authority (DCA). This brings the total amount of capital raised to $17.1 million.

The close included the Global Environment Facility (GEF), the Fund’s anchor investor, as well as Ceniarth, LLC, a single-family office which funds market-based solutions that benefit underserved communities. They join a diverse group of family offices, investment managers, and foundations already invested.

Naoko Ishii, CEO and chairperson of the GEF, said, “As the anchor investor in the Meloy Fund, we are committed to catalyzing private sector action and investment to address the drivers of environmental degradation and trigger systems change. This investment helps support our commitment to safeguard the critical marine ecosystems in Indonesia and the Philippines. A key area for GEF innovation has been the use of non-grant instruments (NGI) to offer concessional finance for crowding-in of private sector investment. As the anchor investor, the GEF’s non-grant equity investment in the Meloy Fund helped catalyze private sector action and investment, and is an example of how the GEF can successfully expand innovative blended finance to natural resources management and translate non-grant innovations across key sectors.”

The Fund also announced the finalization of a partial debt guarantee with the USAID. The guarantee assistance will help the Fund’s borrowers expand their sustainable fish and seafood production or supplemental livelihood activities, resulting in increased incomes for fishers and application of sustainable practices and technologies to protect coastal systems.

Lawrence Hardy, USAID/Philippines Mission Director, said, “USAID is pleased to partner with the Meloy Fund to support small and medium fish and seafood enterprises that increase productivity, advance inclusive economic development, and help conserve biodiversity.”

The Fund’s projected social and environmental impacts include the improvement in the lives of 100,000 fishers and their household members, while placing 1.2 million hectares of coastal habitats, including coral reefs, seagrass beds, and mangroves, under improved management.

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Note: This release does not constitute an offer of an investment security by The Meloy Fund I, GP, LLC or related entities.

ABOUT THE MELOY FUND

The Meloy Fund is a target $20M impact investment fund that will incentivize the development and adoption of sustainable fisheries by making debt and equity investments in fishing-related enterprises that support the recovery of coastal fisheries in Indonesia and the Philippines. The General Partner of the Fund is a wholly-owned subsidiary of Rare. To learn more about the Meloy Fund, please visit http://www.meloyfund.com.

Read the full story at http://www.prweb.com/releases/2017/11/prweb14914739.htm

Highest Thanksgiving Gas Prices Since 2014 to Hit Motorists

BOSTON (PRWEB) November 20, 2017

GasBuddy, the only smartphone app connecting 70 million drivers with their Perfect Pit Stop, today projects that Thanksgiving will see the highest average gas prices since 2014 as the country prepares for the busiest traveling weekend of the year. Yet the average gas price in four of five U.S. states is lower than a week ago, coming as the number of Americans driving is expected to surge by 20 percent* over last Thanksgiving according to GasBuddy’s Annual Holiday Travel Survey.

 

GasBuddy projects the national average gas price this Thanksgiving will be $2.53 per gallon, the priciest Thanksgiving in three years (2014: $2.79), though not as high as the peak on Thanksgiving in 2012 ($3.44). Additionally, average gas prices have risen 9 cents in the last month, the largest pre-Thanksgiving Day increase since 2007, when average prices rose 26 cents in the 30 days leading up to the holiday.

“This year has been unique at the pumps. Gas prices spent much of the time in the weeks approaching Thanksgiving by rising when typically they would be on a sizeable downward trend,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “On average, Americans are paying nearly 40 cents a gallon more than last year, which means collectively we’re spending $800 million more on fuel over the Thanksgiving travel period. Drivers should pay close attention to prices to avoid overpaying.” 

 

According to GasBuddy’s Annual Holiday Travel Survey, despite higher gas prices, travelers are driving longer distances. 2017 is expected to see a 4 percent increase in travelers driving for 10 or more hours over Thanksgiving compared to 2016. 

 

GasBuddy offers several tips for motorists on the road this holiday season:

  • Watch Out for State Lines. Because of differing state taxes, in some extreme cases, drivers can spend an extra $25 when refueling the tank if on the wrong side of the line according to a recent GasBuddy study.
  • Avoid Gas Stations Near the Highway. Gas station on a long stretch of highway will usually be pricey. If possible, plan ahead or drive a little farther toward the nearest town to find a cheaper station.
  • Pay with GasBuddy. A free new payments service that offers 15 cents off per gallon on the first fill-up and 5 cents off per gallon on every fill-up after at over 100,000 stations nationwide.

*According to GasBuddy’s Annual Holiday Travel Survey of 5,635 respondents

About GasBuddy

GasBuddy is a smartphone app connecting drivers with their Perfect Pit Stop. With 70 million downloads, GasBuddy is the leader in crowdsourced information to help drivers find the best gas prices, closest stations, friendliest service, cleanest restrooms, tastiest coffee and much more. GasBuddy is the leading source for the most accurate, real-time fuel prices at more than 140,000 gas stations in the U.S., Canada and Australia. The Company’s B2B Retailer Software-as-a-Service (SaaS), known as GasBuddy Business Pages, provides Fuel Marketers and Retailers their best opportunity to maintain their station information, manage their brand, and promote to their target consumer audience.

Read the full story at http://www.prweb.com/releases/2017/11/prweb14938366.htm

UK pet insurance breaks the billion pound barrier

(PRWEB) November 20, 2017

Aquarium warns the sector risks hard-won gains if premiums are raised ten per cent this year, and argues that technology is delivering savings when consumer confidence remains so fragile. With inflation at 2.9 per cent; interest rates already raised a fraction and set on an upward course; and the 22 November budget just around the corner, the pet insurance sector is unlikely to prove immune from stormy trade winds predicted ahead.

“Everyone connected with pet insurance will welcome these latest figures released, but we can’t be complacent and more must be done to keep the market on an upward trajectory,” said Mark Colonnese, Director at Aquarium Software. “The spectre of reduced customer satisfaction is cited as a reason for the lower than expected figures, and our mission as technologists is to deliver customer journey enhancing platforms and products, proven effective in assisting insurers streamline business processes and ultimately reduce premiums,” he added.

There is undoubtedly still a major untapped pet insurance market out there and many commentators believe the industry must still do more to encourage greater take-up, particularly as inflation continues to outpace wages and consumers have less and less disposable income to spend. The 42 per cent of owners who have never had pet insurance (according to YouGov research commissioned by Aquarium Software), means two fifths of pet parents remain to be convinced of its value. “Current market drivers are as challenging as the future is exciting,” said Colonnese. “Smart technology can keep reducing insurer costs over the medium to long-term, so the pet insurance sector should concentrate on adding value and try to resist any knee-jerk premium increases in response to shorter-term economic factors,” Colonnese concluded.

Aquarium Software’s specialist pet insurance solution spanning premiums rating, policy admin, billing and claims has been implemented by a number of insurers around the globe. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com

Read the full story at http://www.prweb.com/releases/2017/11/prweb14923403.htm