ATARA: 2nd General Assembly

[Iverica]

OOC:

 

After a motion to convene by the Chairperson Desdemona Tomas-Morra, the Argic-Thalassan-Alharun Regional Association would like to invite all Member state delegates and observers to the 2nd General Assembly.

(Inactives will be counted as present but abstaining)

Active Delegates:

( @Delamaria, @Esonice @Fulgistan, @Gallambria )

Active Observer:

( @Ahrana)

Any questions regarding the Association should either be sent via personal message to @Iverica or posted on the #atara Discord.

 

---

 

ATARA's 2nd General Assembly is being called to order to discuss the possibility of a development bank  that can help a fitting civil project that might require a little bit of extra funds or an international group of expert consultants. As an Association service, it doesn't need a vote just to exist. But as a treaty entity, it could certainly use recognition from the entire ATARA. Organisation like this (based on the IRL: ADB) have freedoms and regulations that allow them to act as international financial institutions. So they don't step on any toes and can do their jobs across the tricontinental area, the discussion on the ABD will mostly about its legal status within ATARA member states and would be a great occasion to pitch in if your state would like to be part of it.

Some investment and cooperative opportunities will also be on the table to discuss. Some such include:

• Involvement with the Canamo Canal
  • Panel Aim: Provide an opportunity for ATARA members to assist the Canamo Canal Company by purchasing shares or by investing capital or other assets.
• Establishing an ATARA Mutual Extradition Agreement for financial crimes in foreign exchange, stock exchange or fraud.
  • Panel Aim: Increase the ease of doing business within the ATARA community by providing legal recourse for governments, private entities, or individuals that commit certain crimes.
• Establishing regulations for member states that participate in foreign exchange or stock exchange.
  • Panel Aim: Apply penalties to national institutions or private entities that use practices like "shorting" or "pump-and-dump" on national institutions or entities of fellow member states. 

There will also be opportunities to bring up your own proposals. You can either ambush us with them or send a summary and/or draft of your proposal to: this inbox.

---

WHEN: ATARA's 2nd GA will officially open on  March 15, 2021

• OOC'ly This thread will be open to accept proposals from June 21 to June 28, 2020. If you have an idea, post it on the inbox thread linked above
  • After being cross-checked with the ATARA charter, it will be announced on this thread, or another on this subforum.
• How do you draft one? See @Andalla's fine example.
• What if I post late?
  • It will not matter to post a reply or update a couple of days since the previous one. But if you take too long, the Assembly may move forward without you.

 

WHERE:  On this thread. IC: In the ATARA Headquarters building, Altaria City, Iverica

 

HOW: 

This thread shall be used to present one or more proposals/bills/appeals for an assembly quorum to deliberate on. Questions may be raised, though are not necessary. Members need only vote. 

Optional Idea (Thanks Seylos): To help RP dialogue, we can each write lines and respond to others on a Google Document for more of a live exchange (using forum posts can leave some waiting a week for a simple response). 

The proper and formal procedure as outlined in the 1st GA does happen canonically. In this case it will be assumed that the IC events happen this way. Though for brevity and efficiency, we are running with the new shortened procedure as announced in the news:

• Easier Voting- I propose to do away with the need to call a full assembly RP for passing resolutions or starting projects. A simple thread stating the activity, followed by a decisive poll will suffice (poll will follow our current rules, see Procedural Addendum). No need to RP attendance, no need to for speech writing. Naturally, the rules for who can propose resolutions and whether they are valid (in keeping with our Charter) will still be in effect. Here's what it will look like:

1. Member writes a proposal and submits it to the leadership for consultation (in the inbox linked above).
2. If the proposal meets Charter rules, the author member can put up a thread and poll on the ATARA subforum.
   1. Depending on the amount of activity, separate threads may be created on the ATARA subforum. If for only a few/one proposal, all discussions and polls will be held on this thread.
3. Members vote and debates can happen if anyone wishes to.
   1. Questions can be raised here. Questions, no matter the tone or style will be assumed to have been asked as though they were lodged by your delegate in the proper manner.
4. Votes will be counted. Any revisions to the proposal are taken into consideration by the leadership.
5. If the proposal passes, whatever activity it begets can begin--an RP can follow or a news post can summarise the execution.

• Lastly: DO NOT FORGET TO VOTE!  All members in attendance will be tagged by the Chair when it comes time for voting.

 

/OOC

[Iverica]

OOC: Post to bump the above announcement.

I used a previously hidden post to type this, which is why the date says June 2020.

See above content.

[Iverica]

2nd General Assembly

0730h IST | 15 March, 2021
Altaria International Airport
Porto Altaria, Iverica

 

Desdemona Tomas-Morra, Chairperson

 

Desdemona Tomas-Morra, ATARA Chairperson and Vice-Executive of the Republic was perhaps the busiest woman in the Federated Commonwealth. Previously also engaged as the Foreign Minister, she had since relegated many of her committee and Ministerial positions to her deputies. Over the last year, she had tirelessly worked with Primo Deitorr on getting the Federated Commonwealth up and running. Thankfully, as 2021 dawned, Franso Deitorr had taken more of a lead in the FedCom affairs and she was left to tend to the long-delayed ATARA affairs.

 

She stood in the arrivals atrium of AIAs terminal one—reserved for this occasion. It had been nearly 3 years since she had donned her ATARA Pin for the 1st General Assembly. All sub-assemblies since had been online affairs. With the first of the delegates due to arrive soon, Morra strode around the terminal, ensuring that the ceiling draperies were seemly and the parade of ATARA flags that lined the tall windows were all pristine.

 

Altaria International Airport, one of the busiest airports in Argis

 

Morra usually wore her infamously cold, dry, and terse attitude, but today she allowed herself to lower the barbettes a fraction. She permitted a small, passive smile and a less confrontational posture. She endeavoured to look more welcoming and chose a warmer but still professional colour of sky blue skirt-suit. Morra had planned the 2nd General Assembly to be less of a stiff affair than the 1st. She realised that more could be done if the member delegates had level ground to voice their ideas and so, she had the ATARA staff prepare the Assembly Chamber at the ATARA Headquarters in more of a circular fashion, with slightly less judicial looking furniture. Hefty formalities and strict proceedings were done away with, allowing for additional time to host an open forum where each Assembly member would have speaking time. The press and non-essential staff were likewise reduced and partitioned further from the delegates' space.

 

Given that ATARA would also be welcoming two very promising new delegates, the Chairperson was sure that an atmosphere of familiarity rather than pomp and circumstance was more than appropriate. Morra had yet to gauge them personally and she was rather piqued at finding out what type of delegate they would respectively be. She wondered how they would take the proposals in store.

 

She also looked forward to seeing old acquaintances like Dr. Binsar, Delegate of @Fulgistan. While Iverica always had a shaky, often guarded relationship with Communist states, Fulgistan was an exception. Relations were old and steady—Iverican foreign policy appreciated that stability in light of the large Solidaridad diaspora living there. Their transition of governments had also been far less regicide-inducing and head-pike waving than others, which the Iverican public valued over the mere adoption of differing ideologies. Trade since the Yellow Empire helped both countries keep each other friendly while geography helped both countries stay distant enough not to tread on each other's toes.

 

Likewise, she was pleased to know that she would be seeing the Baron Terrell, Delegate of @Gallambria, whom she had been personally acquainted with after their liaison to elevate Gallambria's status from Observer to Member. Their two nations had long been cooperating in defence technology and policy and relations had indeed been furthering because of ATARA—with both nation's Agriculture Sectors being complementary on the international market.

 

As the first delegate's aircraft began its landing, Morra slowly placed herself and her small staff at the end of the carpet that led from the jet bridge to the terminal.

---

 

• 0730-0900: Arrivals in any order. Delegates will first be held at the terminal's prepared lounge for socials (OOC: this does not have to be roleplayed) while the others arrive.
• 0900: The delegates will be driven to the ATARA headquarters where they will be welcomed. New delegates will have the opportunity to represent their nation in front of the assembled media should they wish.
• Onward: The delegates will be shown to the Assembly chamber which is prepared more for open discussion than in previous events.
• Attendees: The full Panel is (canoncically) present; Iverica, Prymont, Girkmand, Variota, Andalla (absentees to the RP will count as abstains if a vote is held)

[Gallambria]

0945h IST | 15 March, 2021
Altaria International Airport
Porto Altaria, Iverica

After a long 15 hour flight, an aircraft bearing Royal Gallambrian Air Force markings pulls up to a parking spot on the ramp at Altaria airport. After a few moments, the forward cabin door of the aircraft opened and Alexander Terrell starts walking down the air-stairs flanked by advisors and assistants.

As Desdemona approached the aircraft to meet the Gallambrian delegation, Alexander opened his arms to greet her with a hug. As the two embraced, Alexander commented on how lovely she looked, and that he was looking forward to discussing some interesting ideas over the coming days.

As the two started walking to the terminal, some of Alexander's advisors started talking amongst themselves about the conference, with one bringing up the idea of putting forward to the council a proposal about establishing a defence research cooperative.

Alexander overhears the conversation and stops in his tracks - where he says to his advisors. "I like it. I will have a chat with the Defence Minister and Trade Minister tonight to get the go ahead, in the meantime - draft up the proposal and have it to me before the conference starts."

A stumbling squadron of advisors start running up to the terminal to get themselves ready for a long night ahead of them.

[Prymont]

0742h IST | 15 March, 2021
Altaria International Airport
Porto Altaria, Iverica

 

An Aamotech Slankståle landed gently on the runway, proudly bearing the Prymontian flag on the fin as it taxied to it's parking spot. Within the cabin, Julian Nordeng donned a pair of darkened sunglasses as he prepared to disembark into the bright Iverican spring sunlight. The spotlight would shine brightly on the Foreign Minister and ATARA delegate today and for the duration of the Assembly as he fought to repair his crumbling reputation.

He was accompanied by his trusty sidekick Lionel Stenberg, a permanent fixture in his support staff and a man he considered a friend rather than a colleague, as well as a slurry of aides and accomplices. His mind raced as he descended the staircase and touched down onto the tarmac. While he was here to debate a host of varied topics, his presence in Iverica would be closely scrutinised by his cabinet and the media alike as he sought to quell the public unrest at the disaster in Estaria. To put it succinctly, PRUSPET had been a flop. The project was supposed to propel him to the forefront of global politics as a force to be reckoned with, but instead exposed him as a shoddy cowboy builder of a politician. While troops were dying thousands of miles away from home and taxpayer money was being effectively burned in an effort to stop them from dying as much, Nordeng had been parading the press rounds, touting Estaria as the next Prymontian Rus. Unfortunately for him, he'd have to face reality eventually, but perhaps he could preemptively slap a plaster over the Estarian-shaped wound in his career by fixing another problem.

The Canamo Canal was seen as another waste of public funds. The project was behind schedule, over budget, and at risk of collapsing altogether if significant funding wasn't secured imminently. The taxpayer couldn't be relied on to prop up the project anymore, unless Nordeng wanted to burn his career prospects alongside their money, and so he had to look elsewhere. An answer had soon been found in ATARA; not only could capital be secured from the development bank, but there was now the proposition of directly selling shares in the Canamo Canal Company. If Nordeng could persuade other attendees to bankroll another Prymontian pipedream, he'd be in the money - literally and figuratively - and could fly home with a success story for once. 

As he entered the terminal, all of his worries vanished. He'd set his sights upon Chairperson Ms Tomas-Morra, a true sight for sore eyes. He should've been at home fixing the Estaria mess, but had persuaded the Prime Minister to allow him to take control of Prymontian representation in ATARA to settle the masses and show them that it wasn't just their money that was being pissed up a wall - he could quite easily do the same with funding from other ATARA members too. While there was important business at hand, it was another opportunity to meet with Desdemona, a professional politician who had not reciprocated his jokes and advances in the slightest. Even with the stakes as high as they were, Nordeng was not afraid of finding the fun in his business trips. After all, what was there to foreign affairs if you couldn't fly to exotic countries, eat good food, and chat up the locals at the taxpayer's expense?

Pleasantries were eagerly exchanged with the welcoming host and comments were passed about her stylish attire before Julian was abrasively hurried along by Lionel, whose face had turned bright red with embarrassment. In true Nordeng fashion he'd left himself woefully unprepared, and found his team a quiet corner in the lounge to press on with their preparations while they awaited the arrivals of the remaining delegates.

[Delamaria]

March 15th, 2021

Labrador International Airport, Delamaria.

A small government plane is preparing for takeoff. Not far a motorcade arrives and stops abruptly, unanimously the doors open and out steps the Vice President.
”What’s the count?” Says the Vice President.
“115 to 98 Sir.” An aide replies.

Neither of them had much sleep recently, as election results come in all they could do Watch. It was clear, for the first time in his life, Vice President Patton wasn’t sure of something. Of course he very much wanted to retain his role as Vice President, as any incumbent would, but he had more jobs lined up than there were jobs in some parts of the country, everyone wanted him and the power he wields in the Delamarian government. 

The aide was new and young, top of her class at Westchester, little experience in government, though she had become someone Patton trusted most. She may have just been using him to climb up the ladder to Pritchett, but she made him feel good about himself at least.
 

“It’s going to come down to Vandergart again, I don’t see why they wouldn’t let me rig it, it worked in Lanada in 96’ and Hyannis in 09’.” He says both disappointingly and eager.

”Mr Vice President, I don’t think rigging an election would go down well with the voters.” She says almost sarcastically.

”That’s the point Amelia, now when are wheels up?” He asks.

”Once everything’s on, should take two minutes.” She replies.

As she says that her phone starts ringing, shocked she picks it up.

”Vice President Patton’s office, Deputy Chief of Staff Redman speaking.” She says.

”Mr Vice President, it’s the President.” She says, it wasn’t the first time she had spoken to the President, but it was still a shock to her.

”Deborah?” Patton says.

”Will, You’re going alone.” The President says.

”Madam President, I was under the impression that you would be accompanying me.” He says confused.

”There’s too much to do here Will, ill speak to you later.” The President says and immediately hangs up, to the dismay of Vice President Patton.

”Did she just hang up on me?” The Vice President says.

”She’s not even going, and she didn’t even think to tell me sooner?” He says, annoyed.

“We’re not even allowed to use a proper plane, she gets an office building in the sky, and all I get is four seats and a toilet.” He says as she looks at him, almost suggestively.

”Its not all that bad, at least we get a break in Lanada.” She says.

”Yeah for an hour, then it’s another ride to Iverica.” He says, again annoyed.

They both get on the plane, accompanied by only a guard and two pilots. The rest of the staff would be forced to take a commercial flight out of Yorkerdam. Many people suspected the Vice President and his Deputy Chief of Staff but nobody really knew, what they were plotting, under the covers. 
 

The plane takes off, rather abruptly, and makes its way to Lanada, where it would refuel and make its way to Iverica. The cabin was small but we’ll furnished, even if it was just 4 seats and a toilet.

Altaria International Airport, Porto Altaria, Iverica

Many hours later, both of them both explainable and unexplainably exhausted, they began their descent to Porto Altaria.

”Will? Will wake up.” Redman says.

”W-what is it?” Patton replies.

”We’re making our way down now, do you want anything?” She asks.

”No no it’s fine.” He replies.

As they touched down, and taxied from the run way, people waiting to meet the President were lined up along a red carpet. As the door opened to reveal but the Vice President and a woman they didn’t recognise, they were understandably confused.

”Mr Vice President” says the Delamarian Delegateion, Ted Ingram.

”Ah Mr Ingram, Charles’ boy.” Patton replies.

”Nephew actually.” He says back, awkwardly.

”Ah, well its nice to meet you how have you found ATARA?” He asks, as they shake hands for the many cameras, most of whom expecting to photograph the President, but they made the trip and might as well photo the Vice President.

”Its good, a lot nicer than DOFA.”

”Good to hear it.” The Vice President says, before moving on to the many more in line to shake his hand. Ingram was similar to Patton, maybe to similar in that they have both made their way to where they are through questionable means. Though they were 4th cousins that was not unheard of in Labrador, the city breaths nepotism and family power. If you aren’t related to someone in Labrador, they might as well not let you through the city walls. Everything in that town is meticulously planned, decades in advance. November 22nd, whoever may have been behind it, The new President was far from the first to think of it. 

As the Vice President walked down that carpet, shaking hands with dignitaries he has to pretend to like, something in his head just switched. He figured something out, and whether it was good or bad is yet to be seen, but all the wurld will feel it, whether they like it or not.

[Iverica]

2nd General Assembly

0730-0900 IST | 15 March, 2021
Altaria International Airport
Porto Altaria, Iverica

 

Desdemona Tomas-Morra had at first been taken aback by the suddenness and warmth of the Baron Terrel's bear-like embrace. Unaccustomed to such close physical displays of familiarity, she had initially stiffened up, her hands splaying and clutching awkwardly at her side as the delegate of @Gallambria locked them down. The initial awkwardness had elicited some smirks from her staff, all of whom had seen her clock generals upside the head with her infamous brick-loaded handbag.

 

Despite being caught off-guard, Morra was still quite pleased to see that he could attend in person. She quickly relaxed and was much more graceful when they exchanged an Iverican familiar greeting of two quick pecks on either cheek. She made a mental note to talk to the Baron Terrel post-assembly about the Ministry of Defence's request for a meeting at Altaria Air Base.

 

The morning brought other welcome surprises as a Prymontial Slankståle landed. It brought none other than Delegate Julian Nordeng. Morra had somehow been led to believe that the Prymontians would be attending by proxy or deputy. She could see the assumption had been false and was quite pleased that a member of the ATARA Panel would be present in-person.

 

Continuing the trend of surprises, the morning had yielded yet another surprise when a @Delamarian light jet brought an unexpected plus 2. Morra had raised an eyebrow when she was initially told to expect the Delamarian President. As it turned out, their Vice President had graced the carpet instead. The press that had been kept at a seemly distance by the stanchions, appeared to crane their heads curiously observing the unexpected guest. Morra could feel her staff's eyes on the man, discretely sizing him up. However, they quickly averted when the Chairperson and Secundo of the Republic turned briefly to cast the infamous Morra Medusa Death Glare over her shoulder. She gracefully faced foward again and resumed her slight, maternal smile as she shook Patton's hand and greeted his aide. Skinny thing.

 

The early morning hours had been spent in pleasant catch-up conversation at the terminal lounge. When the last delegates had arrived, an usher entered to escort the party to the procession of black @Prymontian KAP K7s. A pleasant tour bus had been provided for the delegates' staff that might exceed the seating capacity of the K7s. Morra had almost forgotten that the Baron Terrel travelled with a squadron's worth of personnel.

 

---

 

0930h IST | 15 March, 2021
en route to ATARA Headquarters, former Hotel Tricontinentale
Porto Altaria, Iverica

 

The procession sped quickly through the highway that connected the airport with its port city. They passed rolling hills, orchards, corral-brick villas, and quaint limestone country cottages. In the middle of March, the slight cool nip of the waning cold season was quickly giving way to warmer winds from Thalassa and West Alharu. The cloudy screen of the winter that had domed the island a scant few weeks before had begun to dissolve in the nascent rays of spring light that peeked through the melting shutters.

 

Gradually, smooth asphalt gave way to the slight rumble of old flagstones under the wheels (hardly felt in the KAP's suspension). Using outriders and blockades, the Guardia Civil had cleared a path through the old quarter of Altaria. The way into the tight and winding cobbles of the old town was empty, save for a collection of curious Altarianos that looked on from balconies of tall and ancient townhouses that rowed the way through. Some waved little ATARA flags, proud that their city was hosting one of the few organisations that crossed the wurld's balkanised boundaries.

 

Though there was a wider avenue, Morra had chosen to cut right through the old city. The route was less exposed to the pomp of lined-up press vans and curious spectators. It also spoke more truth about Altaria than the pillars of glass and steel that lined the main thoroughfares. They passed the old Soluk citadel—where once, Tercios had launched forlorn hopes through the lightning-bolt scars down its thick sloping faces. The artificed eastern gate winked goodbye at the procession as the morning rays that struck the Saharabesque lapis panels were abruptly curtained by the cracked lime-and-shell vaults of an on-coming tunnel.

 

They emerged into a rotunda, the centre of which was a statue of Nepton or Puseidun (depending on whom you ask). They sped around the god's figure, his outstretched arm gesturing vaguely towards the harbour, not far off. Morra had the cars come to a halt at the front entrance, where more stanchions had put the press at a respectable distance. She had the ushers guide each delegate individually. She ordered that the attaches on the tour bus be shown the underground entrance so as not to congest the rotunda.

The small company of gloved usher-footmen saw them through the pillared and vaulted lobby, then to an inner foyer where a wide two-sided set of stairs would lead to the 2nd-floor conference room. After renting the decommissioned hotel in 2018, Morra and her staff decided that the old hotel was likely the best property they could find for their needs inside the metropolitan area. From the interim-HQ, the Tricontinentale was commissioned as the official ATARA headquarters. Despite the grandness of its architecture, Morra disliked frivolous over-decoration and thus, the building remained humbly but elegantly furnished in the common white and pink lime and dead corral of Altarian architecture with a small collection of antiques inherited from the bankrupt hotelier and a few borrowed paintings from her own Foreign Affairs building in Intreimor.

 

After some delegates had taken a few minutes to pander to the press, Morra had them all seated at the executive conference room. It was a far cry from the agoraphobic General Assembly hall and much more conducive for open discussion. Though thankfully, its mahogany and walnut panels were far enough back that it did not prevent them from hosting a few quiet press observers to document the proceedings. 

Each delegate had a leather-bound dossier handed to them by one of Morra's staff. In it, were executive summaries and appendices of data for the topics at hand: the ATARA Development Bank proposal, a working file on the Canamo Canal private placement, and some drafts on possibilities to increase financial ease of business inside ATARA.

 

First on the table was ATARA Bank of Development

 

---

 

OOC: Will be following up with some details about the ABD. I won't draft the enitre damn charter as 1. no one would read the whole thing and 2. That would frankly be too much time spent. We will focus on the relevant parts: its mandate, responsibilities, how it maintains solvency, each stakeholder's contributions; and clauses for security, liability, and protection of locals in areas of operation.

This post is a little long and I'm sure there's an "I don't care" floating around somewhere. But I like to describe things to paint the setting out.

[Iverica]

1000h IST | 15 March, 2021
ATARA Headquarters, former Hotel Tricontinentale
Porto Altaria, Iverica

 

There were some opening remarks, pleasantries exchanged and a roll-call from a clerk who made sure that everyone was well acquainted with the names, faces, and offices of the gathered delegates.

"Beginning with the first item...", began Morra. She had not sat with the rest of the delegates. Instead, she positioned herself by a projector screen which slowly dropped from a concealed ceiling panel.

"Some present will have heard of a recent association initiative called the ATARA Development Bank project. Some others still may have helped test it in its private placement period. Whatever the case, I'd like to introduce the opportunity again", as she spoke, Morra steadily injected a touch more enthusiasm into her normally dry tone.

 

---

 

The greatest barrier to international trade is the fact that most developing states are incapable of giving developed states what they want. A similar reverse is also true; developing states cannot get what they need from developed states. While a developed state might exploit a developing neighbour for cheap material and labour, the harshest truth is that as long as Eurths immense disparity in production exists as it does today, international trade will continue to lose potential revenue—and thus, also lose the capital needed to give people better lives. I would be so bold as to declare that, to some extent, each member of ATARA has realised that trade would flourish if only the multitudes of insular states could participate in the wurld market. In the last decade, I myself have seen more states take careful interest in the development of their neighbours.

How then? Development must come from something. Many nations of the New Wurld remain incapable of filling the vast demand for various goods, services, and commodities simply because they lack facilities, skilled people, and investment. Many of these nations want to be better developed and many developed nations want to help. However, there is so much aid one nation can give another before its debts and taxes begin to rise. Developing nations will need rails, institutes, power, irrigation, seaports, and more—not a short order.

Capital, in the financial sense, is stronger when it is pooled. A bank with the assets of several nations will be able to fund a project much larger than whatever its sole contribution would have allowed. A larger account can be invested more effectively, can be diversified to reduce risks and liabilities, and can allow a bank to participate in activities that beget greater growth than a national bank would be able to reach. A larger multi-national institution also has the capability to collect a more diverse department of experts and consultants; all of whom can fill skill gaps that developing nations will need for their projects.

The ATARA Bank of Development, or ABD, is just the institution for the problem at hand. It is an opportunity for the members of ATARA to invest in the future of New Wurld nations. While it will pursue profitable activity like equity trading and foreign exchange and it will help member states grow their investments; the projects and aid ABD will give to the wurld will not be profiteering or in the interest of economic control. Seeking no more than free trade and giving caveat-free aid, ABD is primarily in the business of creating trading partners.

---

 

OOC: I've created an executive summary/outline of the important bits. Consider it the informal proposal for ABD. It seems that drafting a full charter will be moot.

IC'ly each delegate will have a copy of this summary.

Responses can be in the form of interest (leading to an eventual pledge as a stakeholder), debate/questions, or vocal opposition. Remember, members are not required to have any part in ABD. The bank is simply an opportunity for members to pledge capital (the value can be hammered out later). As an opportunity that does not change our Charter or count as a Resolution, it does not require a unanimous vote simply to exist. Members who want in will be welcomed whereas members who have no interest do not need to contribute.

[Prymont]

Foreign Minister Julian Nordeng was in his element as the convoy of KAP K7's cruised effortlessly along the highway before cutting off and diving through the culturally rich streets and alleys of Porto Altaria's old city. They'd left behind the open expanse of the motorway, now engulfed in the claustrophobia of the narrow flagstone roads. Ancient Iverican buildings guarded the route towards the ATARA HQ, proudly displaying their heritage for all to see. Julian admired the craftsmanship of the olden days from behind the tinted glass, settled into the luxurious sculpted leather seat with a glass of bubbly idly suspended between his fingers. Lionel Stenberg wondered where he'd picked that up from and how he hadn't already necked it, but his fears were more concentrated on the convoy snaking its way through such tight streets. One wrong move and there'd be a ludicrous repair bill, as well as a sodden and miserable foreign minister.

The cars pulled up outside the now-converted Hotel Tricontinentale, the flawlessly attired ushers guiding the delegates in through the doors and towards the lobby. Nordeng managed to escape their clutches and made a beeline straight for the press, eager to make some headlines and focus the conversation on how great Prymont is. Of course, the Canamo Canal would be a large topic of debate within the chambers as the United States desperately sought external investment to support its largest infrastructure project in a decade. The fact that they'd evaded bankruptcy for so long took many critics by surprise, but now the bailiffs were knocking and Nordeng had been sent overseas to rally support and dip into the pockets of the fat cats of the new wurld. "Today will be a great day not only for Prymont, but for canals," he spoke with confidence and a devilish smirk, "perhaps not the Manamana, but us folk up north know how to get things done." The reporters were left with a wink as Nordeng strutted towards the lobby feeling like an A-list celebrity, while Stenberg followed in close pursuit, hoping his superior hadn't once again made a great fool of himself.

Having fallen behind the rest of the group due to Julian's endless filibustering, a skill he'd expertly refined in the Prymontian political chambers and found difficult to leave behind, the consort of Prymontians were hurried along to the conference room. Nordeng's protests to take it slowly and admire the artwork fell on deaf ears as he was almost pushed through the heavy oak doors and shown to his seat. He flicked through the dossier laid before him, taking great interest in the pages detailing the Canamo Canal despite being the most knowledgeable person in the room on the topic, before hurriedly leafing through the remainder of the book to refresh his mind. Once the delegates were settled Ms Tomas-Morra began speaking, and Nordeng was all ears.

"I'd like to say-" Julian began, leaning into his microphone before being quickly intercepted by Lionel from the sidelines. 

"You have to press that button there, you see? Did you read the briefing?" Stenberg scolded Nordeng in front of his peers like a disappointed parent would do to their misbehaving child before peeling back to his seat at the edge of the room. With a huff, Nordeng pressed a button on his microphone, informing the clerk of his desire to speak and attracting the attention of the delegates.

"As I was saying, I'd like to speak in favour of the ATARA Bank of Development. The United States knows firsthand how mutual financial collaboration can lead to a brighter future. A significant factor of the union of the states in 1995 was greater economic power as a collective opposed to individual states, and we've since seen Prymont emerge onto the global stage as a strong, effective nation despite its smaller population and somewhat disadvantageous location. We've gone from strength to strength, taking on projects that would've crippled the individual states but have been possible through the pooling of resources and capital. If anything, the US is living proof that financial collaboration on such a scale can work, and that's something I'm quite proud of."

"There are some things I'd like to address however. I think it's important to determine how projects will be financed; more specifically, how we determine which projects to finance. Working as a group will grant us a lot of capital, there's no doubt about that, but this money is finite and we cannot bankroll each and every idea proposed to us. I presume proposals will be voted on, and if so would that be through the usual ATARA assembly or through the ABD independently? This then begs the question of voting rights - does every member have an equal vote, or would votes be weighted based on contributions to the bank, economic power, so on and so forth?"

Nordeng paused for a moment, taking a sip of his glass that was filled with water rather than alcohol, before continuing. "This segues nicely into contributions. I understand that the ABD will hold its capital in foreign exchange reserves, but it would also be unreasonable to expect members to physically deliver their entire pledge at once. It's useful to have the capital on hand at home, and so I'd like to suggest the addition of special drawing rights. These would be tokens, if you will, held by the ABD that entitle them to X amount of currency from a member. Special drawing rights would hold the same weight as reserve assets, but would be easier for members that perhaps struggle to build foreign exchange reserves."

"My last point for now is the physical location of the ABD. Would it be here in this wonderful hotel, or would the nature of the bank necessitate its own headquarters? I imagine that, considering the ABD would be involved in trading which is a minefield in its own right, that a separate building would be useful. This leads us to where that building is; Iverica holds the overall HQ, so while it would make sense to keep everything centralised, perhaps that would be placing too much power on one member?"

Edited April 24, 2021 by Prymont (see edit history)

[Iverica]

Morra was intrigued. It seemed that Nordeng had sharpened his form considerably. The man had been all fiery and blustering in the past, but now it seemed he was showing a great deal of keen interest—well informed at that. Morra was rather pleased with the interest; some of the questions levelled giving her some cause to think a little more.

After Nordeng had spoken, Morra took sometime to pause and think before notifying the clerk that she would respond. She had jotted down the questions in shorthand and glanced at the list briefly before going point-by-point.

Q: How do we determine which projects to finance?

During our trial run (2019-2020), we used a voting system that distributed voting power according to a percentage of subscribed capital (what ABD terms all contributions towards the bank). Each ATARA Member that decides to become a stakeholder in ADB will gain a seat at the Executive Board—a member state may nominate either their ATARA delegate or any credible government representative to this post. Voting power will be expressed in the percentage of a member's contribution to the total pool of capital. A board member will be responsible for representing his state's capital contribution. Their duty as an ABD board member necessitates their availability to vote on proposals that may arise in short notice via verified link, by proxy (deputy), or better yet, in person at the future ABD Headquarters.

It might be prudent of me also to reiterate our aim to use an annual plan, wherein members finish issuing their subscribed capital before the end of the 4th quarter of a fiscal year.

Q: I presume proposals will be voted on, and if so would that be through the usual ATARA assembly or through the ABD independently?

As you might surmise from what I've answered just now, ABD meetings will not fall under the auspices of the ATARA Assembly. However, it is required to maintain transparency and full disclosure of any proceeding (i.e. proceedings that change the Bank's mandate, mission, or operating procedures) that may affect the ATARA Charter or might interfere with the Procedural Addendum. ABD may host any board meeting or any meeting of its subcommittees without ATARA Panel approval. However it must document these meetings and during the unlikely case of mismanagement, must disclose information to the ATARA Panel if a subpoena is launched.

However, at any point where ABD is to utilise resources outside its own capital or begin operations outside of its mandate, it must first be approved by a quorum vote from the ATARA Panel. Regular reports of aid operations or consulting operations must also be reported with the highest degree of detail. This is to ensure that oversight and a chain of command is kept.

Q: Does every member have an equal vote, or would votes be weighted based on contributions to the bank, economic power, so on and so forth?"

[Answered above]

Q: How about the addition of special drawing rights?

I think this is an excellent idea. Initial tests expected that member state banks be given a cut-off date for accruing capital. Special Drawing Rights would expedite the initial phases. Would Panel Member Nordeng wish to participate in a committee to research and launch this scheme? Perhaps through a member of staff or representative if this request presumes too much.

Hypothetically, if ABD were to allow drawing rights access into a national bank's reserve, we might issue a cut-off date for each interested government's legislature to pass an act licensing this—a guarantee that I would assert is necessary to avoid any risks.

Q: Would it be here in this wonderful hotel, or would the nature of the bank necessitate its own headquarters?

As much as we at the Iverican division of ATARA are proud of the hotel, I agree with Panel Member Nordeng. This hotel would not have the adequate facilities to support an glubal-level exchange. A new headquarters will have to be built.

Q: Where would this headquarters be located?

I propose that we call a vote. As we understand that not every ATARA member may be interested in supporting the development bank and that the bank's establishment does not fall under "ATARA Resolutions" (Procedure III, Section D, ATARA PA-01), we only ask that delegates who pledge contributions vote on the matter of which member should host the headquarters. Should there be any member(s) who are present but unwilling to participate, they may request time to voice protest before the voting period. 

We may commence the vote after all comments have been given and after all pledges to participate in ABD are counted.

 

When Morra was finished, the clerk opened the floor for further discussion or for new comments. At her seat, Morra thought briefly about Nordeng's interesting new colour. She smiled inwardly, pleased that the assembly was becoming less of the one-sided expo she had initially expected.

 

---

 

OOC: What happens next? Floor is still open for any comment or further discussion on the answers given. After comments are complete, the clerk will announce that members may write their pledges (no solid numbers need to be written down yet, just express willingness.). The waiting period for pledges will be 48 hours (IC time)—time enough to contact home governments and decide to commit or not. The time inside that 48 hours will not be wasted. Right after the pledge papers are handed out for members to consider signing, there will be a brief recess for lunch and afternoon coffee/tea, After that break, at around 1500 Hours, the next session to discuss the Canamo Canal private placement will begin.

[Gallambria]

After having listened to Julian and Morra discuss the ABD proposal, Alexander rifles through his notes and he signals to the clerk and gets up from his seat.

Friends - I need to discuss something with my colleagues, how about we take break, have a stretch and meet back in lets say 15 minutes
Alexander leaves the conference room and heads outside with his entourage in tow.

15 minutes had past, and Alexander is seen reentering the conference room finishing off a call. He then gathers everyone and tells the clerk that he'll continue with his response to the proposal.

He holds up his old notes and shows the others sitting around him, and tears them up.

Friends, I had every intention to withdraw our support for the ABD. However what I have heard from Julian and Morra was exactly what I wanted to hear to keep Gallambria in the game.

Julian - You mentioned in your response, your concerns about financing - Following some modelling our Finance and International Development ministries had done after plans for a regional development bank in Marenesia were discussed at last months Cabinet Meeting, we had found it prudent, that contributing members should only be what they can sustain. While our modelling for the Marenesia showed that a sustainable limit of 0.25% of GDP would be sufficient, during our little interlude before, some of my colleagues adjusted some of the models for an ATARA backed development fund, and they found that, that limit could be pushed to 0.5% or even 0.75% of GDP. Using those numbers, and the data that we had available if we allow for a variable contribution from members with a 0.25% contribution over three years we estimate that we could establish a working fund of anywhere between 41.5 Billion to 62.3 Billion Gallambrian Pounds.

Now while Julian - you also mentioned Special Drawings Rights - This would be highly suitable for the contribution and management of funds to the development fund. This would allow ease of transfer of funds to recipient nations or projects and also allow for greater security of the funds.

But before I yield my time to the floor - with the approval of the Prime Minister and her Cabinet, I wish to indicate my nations intentions to contribute to the ABD. I have also been instructed by the Minister for International Development - To offer as a potentional location for the ABD Headquarters, the former offices of the Reserve Bank of Gallambria. Along with funding or provision of services to assist with the running of this fund.
Thank you.

[Fulgistan]

"Can you go a little faster, Mahmoud? I'd hate to be late."

"And I would hate to get a traffic citation before we even get out of the airport; that would certainly look bad."

"What's the use in having diplomatic immunity if you never get to exercise it?"

Dr. Zaitao Binsar found herself in Altaria under very different circumstances than those of her last visit. For one thing, the government had finally shelled out for a chartered flight to Iverica, something that the delegation to the First General Assembly had not had the benefit of. They had also given Dr. Binsar significantly greater freedom to negotiate; the Central Committee viewed the ATARA Development Bank as one of its primary international projects for the coming decade, and was prepared to spend a little outside of its means if it meant securing Fulgistan a seat at the table in the guidance of the bank and its projects. Important too were the proposals on financial regulation; as a nation without a stock exchange, Fulgistan had very little to lose and much to gain from the reigning in of predatory capitalist officials across the New Wurld.

More than that, Binsar's own disposition had changed significantly; with one General Assembly under her belt she felt much more prepared to enter the metaphorical ring and advocate for her nation. The wurld of ATARA delegates was a small one, and she had managed to establish some professional but nonetheless warm friendships among the other delegations on her last visit; she looked forward to re-entering the room with old colleagues and new.

"Here we are, ma'am, Terminal A. Shall I come in or wait outside?"

"And deny yourself Moira's famously warm welcome? I think not. Let's go."

[Iverica]

On 4/28/2021 at 11:37 PM, Gallambria said:

After having listened to Julian and Morra discuss the ABD proposal, Alexander rifles through his notes and he signals to the clerk and gets up from his seat.

Friends - I need to discuss something with my colleagues, how about we take break, have a stretch and meet back in lets say 15 minutes
Alexander leaves the conference room and heads outside with his entourage in tow.

15 minutes had past, and Alexander is seen reentering the conference room finishing off a call. He then gathers everyone and tells the clerk that he'll continue with his response to the proposal.

He holds up his old notes and shows the others sitting around him, and tears them up.

Friends, I had every intention to withdraw our support for the ABD. However what I have heard from Julian and Morra was exactly what I wanted to hear to keep Gallambria in the game.

Julian - You mentioned in your response, your concerns about financing - Following some modelling our Finance and International Development ministries had done after plans for a regional development bank in Marenesia were discussed at last months Cabinet Meeting, we had found it prudent, that contributing members should only be what they can sustain. While our modelling for the Marenesia showed that a sustainable limit of 0.25% of GDP would be sufficient, during our little interlude before, some of my colleagues adjusted some of the models for an ATARA backed development fund, and they found that, that limit could be pushed to 0.5% or even 0.75% of GDP. Using those numbers, and the data that we had available if we allow for a variable contribution from members with a 0.25% contribution over three years we estimate that we could establish a working fund of anywhere between 41.5 Billion to 62.3 Billion Gallambrian Pounds.

Now while Julian - you also mentioned Special Drawings Rights - This would be highly suitable for the contribution and management of funds to the development fund. This would allow ease of transfer of funds to recipient nations or projects and also allow for greater security of the funds.

But before I yield my time to the floor - with the approval of the Prime Minister and her Cabinet, I wish to indicate my nations intentions to contribute to the ABD. I have also been instructed by the Minister for International Development - To offer as a potentional location for the ABD Headquarters, the former offices of the Reserve Bank of Gallambria. Along with funding or provision of services to assist with the running of this fund.
Thank you.

 

Baron Terrell's mention that he had initially planned to withdraw support from ABD piqued Morra's interest. She whispered to her aide beside her, who promptly made a reminder to contact Terrell's office and poll them for the rationale of the intended withdrawal. Morra was interested in the reasoning more than anything. It would be a useful note for future proposals if there was something amiss with the standard of approach.

 

Of greater interest was the Gallambrian offer to host the ABD headquarters. It was a generous offer no doubt and tempting as it spared the organisation most of the cost of setting up a new facility in either Altaria or Prymont. Though Morra was almost certain that Terrell and his office were aware that an ABD headquarters building would carry with it a comparable status in jurisdiction, taxation, and administration, it wouldn't hurt to broach the subject with Alexander during the recess. After all, an ABD headquarters would carry a status somewhere between an embassy and an international airport [1].

 

All in all, Morra was pleased with Terrell's enthusiasm and his readiness to open financial staking with ABD and its proposed SDR system. She hoped this would signal confidence to any fence-sitters in the rest of the Assembly. When Alexander yielded the floor, Morra rose briefly to thank him before the clerk announced the next order of business.

 

On 6/4/2021 at 1:40 AM, Fulgistan said:

"Can you go a little faster, Mahmoud? I'd hate to be late."

"And I would hate to get a traffic citation before we even get out of the airport; that would certainly look bad."

"What's the use in having diplomatic immunity if you never get to exercise it?"

Dr. Zaitao Binsar found herself in Altaria under very different circumstances than those of her last visit. For one thing, the government had finally shelled out for a chartered flight to Iverica, something that the delegation to the First General Assembly had not had the benefit of. They had also given Dr. Binsar significantly greater freedom to negotiate; the Central Committee viewed the ATARA Development Bank as one of its primary international projects for the coming decade, and was prepared to spend a little outside of its means if it meant securing Fulgistan a seat at the table in the guidance of the bank and its projects. Important too were the proposals on financial regulation; as a nation without a stock exchange, Fulgistan had very little to lose and much to gain from the reigning in of predatory capitalist officials across the New Wurld.

More than that, Binsar's own disposition had changed significantly; with one General Assembly under her belt she felt much more prepared to enter the metaphorical ring and advocate for her nation. The wurld of ATARA delegates was a small one, and she had managed to establish some professional but nonetheless warm friendships among the other delegations on her last visit; she looked forward to re-entering the room with old colleagues and new.

"Here we are, ma'am, Terminal A. Shall I come in or wait outside?"

"And deny yourself Moira's famously warm welcome? I think not. Let's go."

 

When Dr Binsar had arrived, Morra greeted her with an air of familiarity. The two had gotten well acquainted during the recesses and free afternoons of the first general assembly. They chatted briefly throughout the morning. At some point, she made sure to invite Binsar on a tour of Distrito Dono, one of Altaria's port-side districts (the size of a small city) which had served as a treaty port to the Yellow Empire until the mid-20th century. "The Gift District", as it was called in Iverican boasted a unique Fulgistani-Altarian culture known for its Altarian 6-spice hotpots, textile work, and unique fusion of East-Alharun and Altarian architecture. The invitation seemed appropriate as Morra was aware that Dr Binsar had been unable to visit during the last general assembly.

 

As the assembly began, Morra wondered in vain at Binsar's opinions. She hadn't been certain how the delegate of Fulgistan would respond to the notion of a development bank that engaged in both non-profit aid and for-profit foreign exchange. Curiosity deepened as the discussion went on; Binsar seemed attentive and alert, taking notes now and again, but ultimately the delegate kept silent, likely reserving her points and/or vote for later.

 

---

 

1210h IST | 15 March, 2021
ATARA Headquarters, former Hotel Tricontinentale
Porto Altaria, Iverica

 

As the last delegate yielded the floor, a short silence reigned. When it was clear that no more questions would be raised, Morra rose and broke the Assembly for lunch. Unlike the First General Assembly, Morra had set lunch to be a more casual affair. A table for the delegates was set in one of the ballrooms. However, Morra had opted to forgo the formality of a stiff lunch and instead, had menus laid out so that delegates could order however much (or little) they wanted from a multi-course luncheon. The headquarters had quite a seasoned staff of chefs hailing from all manner of places; from Sant Bastien where lemon-pepper seared bass was a staple, to Arome, where stuffed peacock graced banquet tables. If delegates so desired, they were also free to use the ATARA chartered KAPs to have lunch anywhere in the city provided they return before 1400 hours.

 

At 1400, Morra would resume the assembly. Indeed, the moment the room cleared, she had already begun mentally reviewing the ATARA proposal for the Canamo Canal. The canal was a top project if ATARA could be involved. Not only would it bring jobs, trade, and prices closer to equilibrium, but it would also ensure a safer trade connection with Iverica's northern allies. For all countries in Northern Alharu and Western Argis, the canal would present a paradigm shift in regional commerce not seen in decades. But first, Morra had a presentation to make.

 

---

 

OOC:

[1] Like the Asian Development Bank IRL, an ABD headquarters will carry a status not unlike an embassy. As the institution will carry out financial operations, it will need to maintain its own system of financial regulation and taxation to avoid being otherwise constricted by local laws to functions as a multinational development bank. Obviously this does not mean that employees can murder a local and run back into the bank they work at to get away with it. It doesn't work that way. 

Next Up: A pitch for ATARA to partner with the Canamo Canal Company. All ATARA members are encouraged not to miss out on this singular opportunity to make the Canamo a hub of commerce.

 

[Iverica]

1400h IST | 15 March, 2021
ATARA Headquarters, former Hotel Tricontinentale
Porto Altaria, Iverica

 

"Welcome back, delegates, I trust everyone had a good lunch", Morra began, herself having shared an Altarian 6-spice hotpot with Dr Binsar and a few others at Distrito Dono, the "Fulgistani Town" of the sprawling metro.

 

"Before I pass the podium to the Delegate of @Prymont I would first like to open the subject with some context on what ATARA has done and what it plans to do as a potential contributor and shareholder to the Canamo Canal Project. I'm sure you are all curious as to how this involves any of your governments- trust that this will come in due time, honoured delegates."

 

"In 2018, after a ground survey and feasibility report published by the Iverican Executive Ministry, ATARA formed the ATARA Canamo Canal Development Team, or ACCDT. It was formed as a subcommittee and development department with research and development contributions as its goal. That year, the ACCDT completed a preliminary study and whitepaper which received recognition from the Prymontian Government and approval from Canamo Canal Co. As such the plans became an integral part of the entire project."

 

"In brief, ATARA researched, planned, and pitched a series of additions to the operation which were deployed in June of 2018. These included measures to both develop the surrounding municipalities, expediting the project, and cutting costs through a new flooding plan. In further detail, the plan was to include damming the Krylov river with a hydroelectric dam which would contribute to gradually flooding a series of gorges to essentially create interconnected artificial lakes together spanning approximately 5,000 km2 in surface area. The lakes would be connected by a combination of blasting, excavation, and drilling along paths determined by our Lidar survey. Supplementary plans include drainage sub-canals, a new rail system to run the length of the canal, and introducing flora and fauna into the new lakes."

 

"While ATARA has itself only contributed advisory, analytics, research, and other consultation, member states like Iverica have pledged labour and other resources to this plan since 2018. As for progress, ATARA observers report that the dam is functional but has yet to be connected to the local power grid. The majority of the excavation and blasting is complete, with sub-canals and other causeways yet to be started. The rail project is scheduled to begin in Quarter 4 of 2021 and locks on both ends are expected to be completed and tested by mid-year of 2022."

The screen behind Morra had been flashing some visual aids before coming to rest on a plain and simple map outlining the Canal's major developments and reaches.

 

 

"On to the burning question: "why has this been pitched at this Assembly?". The answer is that ATARA has been allowed a singular opportunity that includes options similar to private placement and preferred shares. Thus far, no other organisation or government outside of Iverica, Prymont, Prymontian Rus, and Girkmand have been offered this investment opportunity."

 

"As I'm sure you know, the Canal will generate revenue through passage fees, port fees, and other facility fees. As part of a high-traffic maritime route between several New Wurld great economies, this alone is worth your consideration. However, supplementary projects also add a great deal of value through a revenue stream bound to steadily grow. Power generation service from the dam, infrastructure or land lease, and growth opportunity as a direct consequence of the canal's entry into the region position it and all ventures in its orbit as having a potential for great investment surprise. Currently, the Federated Commonwealth Credit Commission have requested further audits which will allow the Canamo Canal Company to enter a Credit grade of BBB and higher on Credit Ratings indices in the Iberosphere. Current estimates on the canal's assets alone are favourable, with the projected value of even the unfinished deployed assets in the region exceeding their principal by a significant multiple."

 

"Risks considered by the Association are mainly project delays and accidents affecting the time horizon. Delays in the project have been shown to come with increased costs for the fees of holding its material and employees on unproductive standbys. The sheer scale of the operation means that large loans will have and have been taken to maintain operations. The number of employees and the tonnage of the project's material in storage means that these loans add considerable strain on the current financial model and may cause over-leveraging. This feeds into the second risk- the risk of default. Currently, the project costs many times the total Total Enterprise Value of its owners and holders. Continued delays increase these costs and could realistically result in a fragile structure where a lack of confidence or other indirect systemic risks cause major partners or holders to pull out. Resulting in the entire credit responsibility falling on a Company too small to support the massive credit obligations."

 

"All in all, these risks are natural for large infrastructure projects. As negative as tone might come across, the Association's evaluation has found that the risks are both less likely in the given project timetable. accident reports and project time requirements have been shown to be decreasing on a month-on-month basis since January 2019 at a low rate of deviation. This increase in speed and decrease in work hazards can largely be the result of the Canamo Canal Company's quick adoption of a stronger low and middle management, increased safety and skills training for workers off their weekly rotation, and its onboarding of skilled consultants from New Beautancus (Monarch Island) and other nations. The risk of default is also less likely in this scenario as many of the largest holders are sovereign institutions (governments) and high-capital multinationals on a long-term partnership that will be very hard to break without paying a substantial breach of contract fee. Should the worst-case scenario happen by chance, the possible inclusion of special preferred shares that carry terms similar to a Secured Creditor may insulate investors. I have advised Delegate Nordeng to offer these options though this is entirely at his and the Canamo Canal Co.'s right to offer or reject."

 

"After our own private audits and estimate analysis, the Panel can recommend this investment to its members. We hope you will all think carefully about what Delegate Nordend will propose- as always, consider this brief evaluation on the project critically, this presentation serves to brief you all on the potential of the project and its risks."

 

Morra stepped off the podium and motioned for the clerk to announce Nordeng to the podium.

 

---

 

OOC: this serves as a project background/update to ATARA's contribution in the CanCan. What is essentially going to happen next is that Prymont will announce what amounts to the CCC opening another round of funding to ATARA members. Members will have the option to take part in this private placement and invest capital or contribute a certain value of labour, or equipment.

I'm also not too hot with editing so the image feels a bit too limited because of the lack of reaches and turns. There would likely be more if I had the time to make a higher def base image.

[Prymont]

Lunch came as a welcome break, allowing the Prymontian delegation to stretch their legs, review the proposals of the ABD, and fill their rumbling bellies before the assembly continued. While Nordeng was keen to accompany Tomas-Morra for a meal, her choice of Fulgistani, and therefore communist, place of eating left a rather bitter taste in his mouth. Besides, Stenberg would have an easier time discussing the day's proceedings with Nordeng's full attention.

Upon their return, their Iverican hosts were preparing for the next item of the agenda - the highly anticipated Canamo Canal. While his comments on the ABD had been intelligent and justified, they were merely regurgitated thoughts from Prymont's Minister of the Exchequer. However, the canal was where Nordeng took great interest. Naturally, such an international project would require the attention of the Minister of Foreign Affairs, and would grant him an unparalleled opportunity to rectify his public image and refine himself into an accomplished politician. The canal had been plagued with setbacks, opposition and uncertainty, but half an hour of sweet-talking some of the richest nations on this half of the wurld could turn that around and cement his name in the history books with positive intentions.

As Tomas-Morra stepped away from the podium, having prepared the assembly with a well-educated and well-spoken prelude, Julian Nordeng took centre stage. He opted to keep the Iverican's graphic on the screen behind him, bringing no visual aides of his own. Instead he clutched a slim booklet in one hand and a glass of water in the other, though he expected he'd only need one. The man could talk for Prymont and had vehemently researched the history and future of the canal, to the point where Stenberg wondered if his boss had been possessed. Such a golden opportunity would not go amiss.

"My esteemed ATARA colleagues, I will not bore you with fluff and pomp. This is an investment opportunity that needs no introduction, that needs no priming and polishing. The Canamo Canal is the single most important infrastructure project in the history of the United States. It may not be the largest; take our rail and road network overhauls for example, or the most expensive; our green initiatives have set us back hundreds of billions, as has our generous healthcare spending, but none of them are as internationally indispensable as this canal. 

"As we see the old wurld grow economically closer to the new, it is of paramount importance that we ensure the foundations are there for sustained cooperation and prosperity. Our continents are not as divided as they once were, and with the technological and industrial advances of the last handful of decades, it is critical to keep up with the times. As nations work closer together, we must look at how we can facilitate greater harmony and ease-of-access. We have seen recently the activity in the Argic Ocean, with the Ivericans taking the lead in securing a crucial maritime passage, and we must ask why was this done? Why is so much money being spent in this part of the wurld?

"Because there is opportunity, my friends. If we turn our attention to the Canamo Sea, we will find an area prime for opportunity. @Ahrana has recently announced plans to open its doors and welcome foreign investment. The Prymontian Rus is rebuilding to become bigger and better than before, and of course, the United States continues to be a local economic and geopolitical leader. But what's missing? A connection to the rest of the wurld. Already, there are developed ports on the Canamo and Mediargic coasts, but what if we connect them? What if we create a passage, connecting the northern economic powerhouses of the old wurld to the budding potential of the new? Thus, the idea of the Canamo Canal was born.

"Chairperson Tomas-Morra has already kindly explained the progress we have made so far with the development of the canal. The hydroelectric Krylov Dam of the north is already complete, and we are currently offering contracts for service providers to bring the project into operation. Work on a parallel trainline is imminent, which will connect to the national Prymontian Rus rail network to bring vast connective opportunities. Workers have lived in the area for three years already, and construction of several canal cities is well underway. All of this economic potential, and we've not yet spoken about the single thing this is all centred around. Do you now understand my excitement regarding this project?

"Let me start with the basics. The Canamo Krylov Company is currently owned by four separate entities. The United States maintains a 50% ownership, split equally between the Office of Energy & the Environment and the Transport Office. 35% is then owned by the Prymontian Rus' Commissariat of Industry, with the remaining 15% owned by Iverica's Canamo Canal Committee. The total current investment stands at ß15 billion, with the United States having contributed ß10 billion. @Girkmand has also pledged ß1 billion, with ß400 million of that already invested and the remainder due by the end of the 2021-2022 financial year - in return, they will receive a 25-year 50% discount for all vessels beginning and ending round trips from Girk ports, but do not have any ownership in the company.

"The CKC was originally chaired by Egor Yermolayev, but in February this year he was encouraged to resign. In the name of total transparency, Yermolayev was found guilty of gross negligence, corruption, and squandering of public funds after an internal Prymontian-led report. Stella Stormoen was elected as chair in March, and has since seen the Company go from strength to strength. It is largely due to Yermolayev's disappointing tenure that the canal is running behind schedule and over budget, and this is why we must turn to further foreign investment. I can assure you now that your money will not be mistreated - Miss Stormoen oversaw the successful ß30 billion expansion of Prymont's A1 motorway, which was completed ahead of schedule. 

"The company currently owns assets to the value of ß16 billion, and owes creditors ß24 billion, of which ß20 billion is long-term debt and ß22 billion is secured - half by assets, and half by the United States government.  This first round of funding, offered exclusively to ATARA members for public ownership, hopes to raise ß10 billion in equity. This capital will be used to further progress construction of the locks, as well as begin construction and integration of the railroad in the Prymontian Russian rail network. Further fundraising rounds will be sought with institutional investors in the hopes of generating ß20-30 billion, and if need be, the potential to float the Company on the Rettenmyr Stock Exchange for retail investors is being considered. In total, the goal is to raise ß35 billion to complete the project, with any surplus liquidity paying off debt, enhancing the development of canal cities, and being returned to investors as dividends, in that order. It is worth remembering that the Company currently manages a public lottery scheme in the United States that has generated ß250 million, and will expand that lottery into the Prymontian Rus by the end of this year.

"Of the ß10 billion we hope to raise today, half will be in preferred shares, while half will be common shares. Preferred shareholders have zero voting rights, but receive a 4% dividend biannually - common stock enjoys one vote per share, but receives a biannual dividend of just 1.5%. Of the current shareholding structure, the United States is willing to dilute 10% of its ownership, with the Prymontian Rus offering 5%. If the entire ß10 billion is raised, this will value the company at aproximately ß66.7 billion. Of course, you may wonder why this valuation seems so inflated when the company's assets alone are worth just 25% of this estimation, but consider the potential. The Prymontian Rus is currently purchasing land ownership rights for the areas surrounding the canal. The Krylov Dam is just one small piece of a larger energy park puzzle, featuring the possibility of wind farms and reservoirs. The canal's passage fees will prove lucrative, guaranteed, steady income year on year, and with the project located in burgeoning young economy, this is the opportunity of a lifetime. In fact, this is not a once in a lifetime opportunity, this is a one time opportunity. A shareholding in the Canamo Krylov Company is a shareholding in the economic future of the New Wurld. Ladies and gentlemen, I can tell you now, this is not an opportunity you want to decline. You will look back in ten years and think bugger, I should've listened to Julian."

Edited October 5, 2021 by Prymont (see edit history)

[Ahrana]

As Lady Eriksson sat through the first half of the Assembly listening to each speaker with great intent and showing them her upmost attention to what they were talking about. This was the first time she would be at a ATARA Assembly where she was representing her country as an Official and not as a Government-in-Exile Official. Lady Eriksson had enjoyed the Presentation on the ABD and thought it was a excellent idea and one that Ahrana should fall behind immediately.

During lunch Lady Eriksson would mingle with a few of the delegates and such as she was a friendly person and enjoyed talking to people and listening to people talk. She knew that after lunch the delegation from the United States would be next and was ecstatic to see what they had brought to the table concerning the Canamo Canal.

As she sat there listening to Tomas-Morra on what ATARA has done in the ways of the Canal. Eriksson found it all interesting and even enjoyed the Presentation slides, to which they gave a great deal amount of information about the idea of the progress of the canal in stages and such. After Tomas-Morra finished then the Delegation of the United States stepped forward. Julian Nordeng would be the one to do the talking which was a surprise for Lady Eriksson, but none the less a great surprise at least.

As Nordeng talked about the canal and investments, Lady Eriksson thought to herself of what was agreed upon with the Ahranaian Government on how much should be invested in the project. With Ahrana opening up to the wurld and allowing foreign investors back into the country for the first tie since the fall of the Second Imperial Government to the Socialists, this would be a good start to enter the International Realm and start to try and progress forward. As Nordeng finished talking the last line was an interesting choice.

As Lady Eriksson sat there contemplating the numbers for investment, basically number crunching in her head to be sure of what she would propose in behalf of Ahrana to invest solely into this project. The numbers proposed by Nordeng of 15% is high yet considering how close Ahrana is to the Canal it would make sense to have a higher investment percentage. However, thinking of the status of the country and its economy and the process of integrating Elde and Uppsund into the Union.

Lady Eriksson stood and sent her proposal of Investment for the project:

“As the current status and ability of Ahrana to invest in foreign projects are limited it is believed that if we do not take the opportunity to invest into the Canamo Canal then the moment to partake would surely make us Ahranaians look quite dimwitted to those who have invested.

“What I am proposing to the Delegation of Prymont is that Ahrana will buy in a minimum of 10% and would seek to at a later date to buy in another 5% if at all possible. Given the proximity of Ahrana to the Canal it would be wise of us to seek this form of investment if we are able to.

As Lady Eriksson finished what she had to say she took her seat and placed her papers down on the table to listen to the other delegates and hopefully to hear what the Delegation from the United States had to say about the Ahranaian Proposal.