Friday, November 25, 2005
Netherlands FMO chief in Manila to discuss future SME projects
Mr. Arthur Arnold, managing director of the Netherlands Development Finance Company (FMO) recently met with Plantersbank chairman and chief executive officer Ambassador Jesus P. Tambunting to discuss the long-standing partnership between both institutions.
Mr. Arnold and Mr. Wim Wienk, head of the Asia Department of FMO, were keen about new opportunities where FMO can assist Plantersbank in support of SME and micro-enterprise growth and development. A number of opportunities were identified during the meeting and will be the subject of a forthcoming FMO mission to Manila.
The equity participation by FMO in Plantersbank in 1983 was a milestone for both the Dutch bank and Philippine banking. This marked the first time FMO invested outside the Netherlands. FMO also became the first foreign institution to invest in a Philippine private development bank.