The Small Business Administration offers assistance for small biz hurt by Maryland bridge collapse

NEW YORK (AP) — The Small Business Administration is offering assistance to those affected by the bridge collapse in Maryland.

Small businesses in the Mid-Atlantic region will be eligible for low-interest, long-term Economic Injury Disaster Loans of up to $2 million.

“The SBA joins the entire federal family in grieving for the lives lost in the tragic collapse of the Francis Scott Key Bridge,” said SBA Administrator Isabel Casillas Guzman. “As Baltimore and the wider community mourn and start to rebuild, the SBA and the Biden-Harris Administration stand ready to help local small businesses get through the economic disruption caused by the bridge collapse.”

The bridge was a key transportation route in the region. Every year, 1.3 million trucks cross the bridge — 3,600 a day, according to the American Trucking Associations. Trucks that carry hazardous materials will now have to make 30 miles of detours around Baltimore because they are prohibited from using the city’s tunnels, adding to delays and increasing fuel costs.

The declaration covers the entire state of Maryland and contiguous counties, including the District of Columbia. Small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations can apply for the loan.

Eligibility is based on the financial impact of the disaster only and not on any physical property damage. These loans have an interest rate of 4% for small businesses and 3.25% for private nonprofit organizations with terms up to 30 years.

More information can be found at sba.gov.

FILE - The fallen Francis Scott Key Bridge in Baltimore is pictured Sunday, March 31, 2024, where divers assisted crews with the complicated and meticulous operation of removing steel and concrete. The Small Business Administration is offering assistance to those affected by the bridge collapse in Maryland. Small businesses in the Mid-Atlantic region will be eligible for low-interest, long-term Economic Injury Disaster Loans of up to $2 million. (AP Photos/Mike Pesoli)

PARIS (AP) — Japanese Prime Minister Fumio Kishida unveiled an international framework for regulation and use of generative AI on Thursday, adding to global efforts on governance for the rapidly advancing technology.

Kishida made the announcement in a speech at the Paris-based Organization for Economic Cooperation and Development.

“Generative AI has the potential to be a vital tool to further enrich the world,” Kishida said. But “we must also confront the dark side of AI, such as the risk of disinformation."

When Japan chaired the Group of Seven leading industrialized nations last year, it launched a Hiroshima AI process to draw up international guiding principles and a code of conduct for AI developers.

Some 49 countries and regions have signed up to the voluntary framework, called the Hiroshima AI Process Friends Group, Kishida said, without naming any. They will work on implementing principles and code of conduct to address the risks of generative AI and “promote cooperation to ensure that people all over the world can benefit from the use of safe, secure, and trustworthy AI,” he said.

The European Union, the United States, China and many other nations have been racing to draw up regulations and oversight for AI, while global bodies such as the United Nations have been grappling with how to supervise it.

FILE - Japan's Prime Minister Fumio Kishida speaks during an interview with foreign media members ahead of an official visit to the United States at the Prime Minister's official residence on April 5, 2024, in Tokyo. Kishida unveiled an international framework for regulation and use of generative AI on Thursday May 2, 2024, adding to global efforts on governance for the rapidly advancing technology. (AP Photo/Eugene Hoshiko, File)

Japan's Prime Minister Fumio Kishida, left, is welcomed by France's Prime Minister Gabriel Attal, right, at his office in Paris, Wednesday May 1, 2024. Fumio Kishida is scheduled to visit France, Brazil and Paraguay. (Stephane de Sakutin, Pool via AP)