Message from the Chairman
On behalf of the Association of Development Financing Institutions in Asia and the Pacific, I welcome all of you to the 32nd ADFIAP Annual Meetings to be held in Muscat, Oman on April 27-30, 2009. At the outset, allow me to thank the Oman Development Bank under its Chairman, Mr. Sh. Alfadhal bin Mohammed AL HARTHY, for graciously hosting this year’s event.
In determining how we best should deal with the current economic crisis, perhaps the past can be our best guide. DFIs, in the form of development banks and other specialized institutions, have existed for more than a century. Many of our member-DFIs, for instance, were organized after the last world war to specifically address the demands for the rapid rehabilitation and development of critical sectors in the economy, particularly, industry and agriculture.
Over the years, governments’ strategies have determined that the attainment of economic growth and social development involved the purposive promotion of sectors they deemed critical. These sectors included exports, small and medium-scale enterprises, infrastructure and logistics, utilities and housing, and recently, information technology and knowledge. DFIs have been at the forefront in carrying out these strategies being the providers of long-term funds. For various reasons, the commercial banks that dominated the financial sector chose to limit their portfolios to short-term financing.
Today, we are once more in a crisis situation wherein governments have to intervene in the financial markets and stimulate the economy. DFIs will again or continue to be important policy tools of governments in implementing their economic strategies. We are comfortable in our belief that DFIs can respond effectively to the crisis. The challenge is for DFIs to attain efficiency in operations under the framework of governance. We have to be effective in our mandate and efficient in operations in order to live up to the expectations of our stakeholders. In a broader sense, the current economic crisis presents DFIs with yet another opportunity to affirm its vital role in economic development. Let us take advantage of this.
I look forward to meeting you all in Muscat.
FUIMAONO FALEFA LIMA
32nd ADFIAP Annual Meeting Logo Rationale
The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) annual meeting is being co-organised by Oman Development Bank (ODB), and the ADFIAP 2009 logo reflects this. The corporate colours and triple swoosh in ODB’s logo are incorporated in this year’s ADFIAP design.
To further emphasise Oman as this year’s venue and represent the country’s culture, a distinctly curved Omani dagger known as khanjar is ingeniously crafted as the letter “F” in “ADFIAP”.
To visualise ADFIAP’s function as a trustworthy international association of financial development institutions, a blue graphic of a global network was incorporated into the 2009 logo.
To show 2009’s theme of “Financing Development Amidst the Global Economic Crisis: DFI Responses, Challenges, and Opportunities”, red symbolises the world crisis, and the high upward sweep of the letter “A” from its low starting point symbolises the organisation’s ability to overcome the challenge and achieve its goal.