PT&I, ADFIAP sign cooperation agreement
The Association of Development Financing Institution in Asia and the Pacific (ADFIAP) and the New Zealand office of <b>Pacific Islands Trade & Invest (PT&I)</b> signed a Memorandum of Cooperation (MoC) to harness common synergies through the implementation of projects, programmes and activities of mutual interest. <!--more-->
The memorandum was signed on August 4 at the ADFIAP headquarters in Makati, Metro Manila, Philippines, by ADFIAP Secretary General, Octavio B. Peralta, and <b>PT&I</b> NZ Acting Trade Commissioner, Manuel Valdez.
Under the agreement, both institutions agree to cooperate and undertake to facilitate interaction between their stakeholders in order to encourage business strategic alliances and networking among themselves and their partner-organisations; jointly develop and promote institutional capacity-building projects and programmes to enhance the capability of their respective constituencies; co-organise, collaborate, and assist each other in conferences and forums on development financing requirements such as, but not limited to, micro, small and medium enterprises (MSMEs) in various productive sectors, governance, environmental and corporate social responsibility as well as other relevant topics; and explore other relevant endeavours.
ADFIAP is the focal point for 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. Founded in 1976, ADFIAP has currently 131 member-institutions in 45 countries. The Asian Development Bank is a Special Member of the Association. ADFIAP is also 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. ADFIAP is an NGO in consultative status with the United Nations’ Economic and Social Council.
Under its economic objective, ADFIAP supports small and medium enterprise (SME) programs and local economic development projects. Through its SME Finance Initiatives, ADFIAP conducts conferences, learning courses and experience-sharing activities, using as resources its network of members engaged in SME development work and financing.
There are 11 Pacific Island member-countries of ADFIAP including the Cook Islands, Pohnpei, Fiji, Niue, Palau, Papua New Guinea, Samoa, Vanuatu, Saipan and Guam.