Day 1,228: indemnify
On the part of donors, it will involve focusing spending on schemes that “crowd in” private capital, such as indemnifying investors against political and regulatory risks, taking equity stakes in private projects and agreeing to absorb the first tranche of losses if things go wrong.
Artwork of the day
The Tribute Money
John Singleton Copley
Date: 1782
Style: Neoclassicism
Genre: religious painting
Media: oil, canvas
Location: Royal Academy of Arts (RA), London, UK
Dimensions: 153.67 x 128.27 cm
Word of the day
indemnify: to pay or promise to pay someone an amount of money if they suffer damage or loss
tranche: one of several parts of a financial arrangement, payment, amount, etc.
Quote of the day
“Literature is the effort of man to indemnify himself for the wrongs of his condition. – Ralph Waldo Emerson”
― Ralph Waldo Emerson