Friday, May 12, 2006
Plantersbank supports Asia-Pacific consensus on SME promotion and Environment
COLOMBO, Sri Lanka—Following a series of talks critical to regional issues in development and investment policy, CEOs of state-owned and private development banks gathered in Colombo, Sri Lanka for the 29th annual Association of Development Financial Institutions in Asia and the Pacific (ADFIAP) meeting have reached a common understanding on “sustainable development investment”.
Led by its chairman Ambassador Jesus P. Tambunting, ADFIAP member-banks adopted the Colombo Consensus on Sustainable Development Investment and pledged to pursue joint efforts aimed at promoting small and medium enterprises, poverty alleviation and environmental-friendly lending policies in the region.
Ambassador Tambunting, who is the chairman and CEO of Planters Development Bank, the largest private development bank in the Philippines, described the annual ADFIAP meeting as a watershed event for development banking in the region. The meeting which was inaugurated by Sri Lanka Prime Minister Ratnasiri Wickramanayake centered on the theme “DFIs: Are they Sustainable? Opportunities in Sustainable Investments”.
“Profitability, development funding and regulatory concerns aside, this conference focused heavily on emerging investment opportunities and sustainability,” said Ambassador Tambunting adding that the future looks bright for banks to tap into environment-related programs, small and medium enterprise promotion and new infrastructure.
The ADFIAP meeting also confirmed the earlier decision to establish the SME Center for Training and Advisory Services in the Philippines. Projected as the backbone of efforts to energize development finance activities in the region, the SME Center will be jointly administered with Planters Development Bank.
Founded in 1976, ADFIAP is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Its mission is to advance sustainable development through its members. The association has 64 member-institutions in 32 countries.
ADFIAP is a founding member of the World Federation of Development Financing Institutions composed of regional associations in Africa, Asia-Pacific, Latin America and the Middle East. It also is an NGO in consultative status with the United Nations Economic and Social Council.
The permanent Secretariat of ADFIAP is based in Makati City, Metro Manila, Philippines.