Across America – The Energy Department today announced 10 organizations selected to receive more than $20 million in funding for new research, development, and demonstration projects that advance and monitor marine and hydrokinetic (MHK) energy systems, which generate electricity from ocean waves and tidal currents. These projects will aim to improve the performance of MHK systems and advance environmental monitoring technologies that will help protect wildlife and reduce uncertainty regarding potential environmental impacts – US/DOE/Energy.gov: Read Details & List of Recipients

Across America – Hilton Worldwide (NYSE: HLT) yesterday kicked off a month of groundbreaking celebrations for its youngest and fastest-growing hotel brand in company history, Tru by Hilton. A ceremony in Lancaster, Pa., this week marked the first of 10 groundbreakings Tru by Hilton will host in the next 30 days all over the country. The event series, spanning Pennsylvania, Texas, Mississippi, Iowa, South Carolina, Alabama and Virginia – Business Wire: Read Details

Across Asia – A new Asian Development Bank fund aimed at spurring investment in Asia has drawn attention from Japanese business, a senior official said on Tuesday, a positive move towards meeting the region’s infrastructure financing needs. The Leading Asia’s Private Infrastructure Fund (LEAP) was established in March by ADB and Japan International Cooperation Agency (JICA) as a follow-up to the “Partnership for Quality Infrastructure” unveiled by Prime Minister Shinzo Abe last year. The ADB estimates Asia’s infrastructure financing needs at $800 billion a year, making it crucial to tap resources from the private sector and development organizations – Reuters: Read Details

Asia & Europe – Impact and opportunities for Asia and Europe: One belt one road – Now the legendary Silk Road is one of  Beijing’s most important international trade and development initiatives – nicknamed: “One Belt One Road”, or OBOR as it is frequently referred to. Over 900 deals worth more than $890 billion are currently underway including a gas pipeline from the Bay of Bengal to Myanmar through to southwest China and a rail link between Beijing and Germany’s Duisburg transport hub – Daily News: Read Details

Asia – Sindh, Pakistan – Asian Development Bank (ADB) agreed on Tuesday to provide a loan of $197.85 million for Sindh Provincial Roads Improvement Project. The project would help in rehabilitation and upgradation of roads in Sindh, particularly in Sanghar, Mirpur Khas, Badin, and Kashmore districts. In addition, it would also serve to strengthen the institutional capacity of Sindh government’s Works and Services Department in project management, road planning and maintenance as well as in ensuring road safety, Ishaq Dar added – Daily Pakistan: Read More

Caribbean Islands – Puerto Rico – Over the next week, Liberty Street Economics will present a series of posts on Puerto Rico, drawing on expertise from different areas of the New York Fed. Today we provide some brief background on the sustainability of the Commonwealth’s fiscal trajectory, and introduce the remaining posts in the series. As we pointed out in our 2014 report, Puerto Rico’s current debt burden is very high relative to that of mainland states and other economies, and Puerto Rico’s own history – Liberty Street Economics: Read Details

Europe – Helsinki, Finland – The European Investment Bank (EIB) has signed off €100 million to finance phase two of the West Metro project in Helsinki. Altogether, a loan facility of €450 million has been approved for the second phase of the project. Additional payments will be made throughout 2017. The West Metro extension to Espoo will open in two phases. The first is a 14-kilometre section between Ruoholahti and Matinkylä, which received a €450 million loan from the EIB in 2011. This will be followed by a seven-kilometre route between Matinkylä and Kivenlahti – Global Rail News: Read More

Middle East – Across Egypt – Egyptian Lawmakers Approve Law Governing Church Construction – Egypt’s parliament approved on Tuesday a long-awaited law that governs building and renovating churches, an issue that has led in the past to attacks on members the country’s Christian minority by Muslim militants. Egyptian Christians make up about a tenth of the country’s 90 million people and are the Middle East’s largest Christian community. The new law empowers provincial governors to approve church building and renovation permits, previously the domain of security services – VOA: Read Details

USA – Aroma Park, IL – U.S. Sen. Dick Durbin last week announced $22.5 million in federal funding, including $5,107,700 in grant awards, to support rural development projects across Illinois. Locally, the village of Aroma Park will get $1 million in grant money, and $1.4 million in loans to replace deteriorating iron ductile force sewer main with PVC piping – Daily Journal: Read Details

USA – Blacksburg, VA – The Virginia Tech Board of Visitors has approved a new hitting facility for the Hokies’ softball program. Construction is expected to begin in the fall. The hitting facility is designed by Cannon Designs and will be built by Branch Associates of Salem, Virginia. This project is part of a larger plan that will vastly improve Rector Field House and all of the adjacent athletics facilities. Total cost is expected to be $18 million. The total project will add about 32,000 square feet to the field house – Hokie Sports: Read Details

USA – Noblesville, Hamilton County, IN – Through the generosity of local individuals and businesses more than 75 percent of the necessary funds have been raised to construct a new 33,900 square foot Boys & Girls Club facility in Noblesville , in order to meet the growth and expanding needs of young people in Hamilton County. To raise the additional needed funds, the Boys & Girls Club of Noblesville’s Capital Campaign Committee has announced a final push and an offer to interested contributors to participate in a Contribution Matching program – Current in Noblesville: Read Details

USA – Sheridan, WY – On Monday, more than 100 people gathered north of Sheridan to witness the groundbreaking of the new north Sheridan interchange. The project will include the construction of a new, diamond-shaped interchange 1 mile north of the existing interchange. The project will also include the realignment of Decker Road, reconstruction of North Main Street and isolated reconstruction of both lanes on Interstate 90. Contractors for the project are High Country Construction, Inc. of Lander and Reiman Corp of Cheyenne. The project is expected to last more than three years and cost $46.4 million – The Sheridan Press: Read Details