Kathmandu, May 1 In accordance with the decision of the 50th Board of Directors Meetig of the Association of Development Financing Institutions an Asia and the Pacific (ADFIAP), the 23rd ADFIAP Annual Conference is being held from May 2 to 4, 2000 and it is being hosted by Nepal Industrial Development Corporation (NIDC).
The conference is going to be inaugurated by Minister of Industry, Commerce and Supplies Ram Krishna Tamrakar. Altogether 44 delegates from 18 ADFIAP member countries are participating in the conference, this is stated in a press release issued by NIDC, today.
ADFIAP is a regional organisation of development banks and other financial institutions engaged in the financing of development. Founded on October 1, 1976 during the Sixth Regional Conference of Development financing Institutions in Asia and the Pacific in Manila, Philippines under the auspices of the Asian Development Bank, ADB, ADFIAP is a non-government organisation (NGO) affiliated with the Economic and Social Council (ECOSOC) of the United Nations (UN), the press release feuthn stated.
With a vision to become the world’s leading association in development finance, ADFIAP’s mission isto foster closer relationship among members through provision of services and enabling member-institutions to improve and upgrade their activities to help sustain development of their respective countries.
From 31 charter signatories in 1976 including NIDC, ADFIAP has grown to a diverse membership gorup totaling 78 members ranging from very small to large financial institutions from 34 countries from the Asia-Pacific region and some institutions outside this region such as those in Egypt, Canada and Brazil which aim to establish closer links with financing institutions in this region.
As a strong catalyst of development, ADFIAP aims to help members to be a viabale financial institution through braining and development, networking, business opportunities and information technology. ADFIAP, up a regional it network called SEMENTRE COM in 33 countries so as to enable it to become the largest centre for SME’s in the region.
In this context, one of the highlight of the 23rd Annual conference, will be the switching on of the SMECENTRE. COM. NP, Nepal. This web site facility, initiated and made available by NIDC, will be the global gateway facilitating small and medium business enterprises of Nepal.
The theme for this year’s conference, “Development Banking in the New Millennium” brings to the fore the evolution of development banking in different countries in the regior. It is also a forward- looking event to “see” for ourselves what development banking will be in year 2000 and beyond.
With the advent of the third millennium, it is for DFI’s to restate their baisc purpose with the continuing challenge to remain viable and profitable institutions. It is the need of the hour fro DEI’s to be attuned to the wave of changes in the financial services industry in the years ahead. Only the most nimble and innovative banks and financial institutions will live to see tomorrow.
It is in this context members of ADFIAP are gathering in Kathmandu for their 23rd Annual Conference with the theme, “Development Banking in the New Millennium” which will give them a fresh impetus to face emerging challenges of the new millennium.