TEHRAN, IRAN—The Plantersbank SME Business Park, the 40-hectare industrial development in Cebu, was hailed a regional Outstanding SME Development Project during the 31st conference of the Association of Development Finance Institutions in Asia and the Pacific (ADFIAP) in the Iranian capital.
SME Project Cited. Plantersbank chairman Ambassador Jesus P. Tambunting (center) accepting the ADFIAP Award for Outstanding SME Development Project in Tehran, Iran. The Award was presented by Mr. ADFIAP chairman and Development Bank of Samoa general manager Fuimaono Falefa Lima (left) and DFCC Bank chief executive officer Nihal Fonseca.
Launched in July 2007, the Plantersbank SME Business Park provides small and medium-sized exporters with the same investment incentives and tax perks enjoyed by foreign-owned, large corporate locators. The presence of the project in the City of Naga has given new impetus to government plans to upgrade public infrastructure in the area, including the expansion of the Naga port to serve roll on-roll off passenger ferries and small cargo vessels, construction of additional inner roads and provision of a bulk water supply system.
Plantersbank chairman Ambassador Jesus P. Tambunting acknowledged the honor and said Plantersbank is determined to develop more SME-oriented finance services, e-business solutions, advocacy programs and infrastructure facilities for enabling entrepreneurs.
The Plantersbank SME Business Park was one of 11 projects that received the coveted ADFIAP Development Award among 32 entries from 19 institutions and 11 countries that participated in this year’s search. The Awards are the hallmark of development performance and excellence in the Asia-Pacific region.
The ADFIAP has 92 member banks, both state-owned and private, in 37 countries of Asia and the Pacific.