DevBank Notes Page - ADFIAP - Association of Development Financing Institutions in Asia and the Pacific

DBP bags best CSR projects award among development banks

State-owned Development Bank of the Philippines (DBP) has bagged the ADFIAP Development Award for Most Outstanding Corporate Social Responsibility Project for its DBP Endowment for Education Program (DEEP) during the annual Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Awards held at the Shangri-La Barr Al Jissah Resort & Spa in Muscat, Oman.

DEEP is a 10-year program of DBP with a total funding of P1-billion. Through the program, DBP provides financial assistance to qualified and deserving underprivileged high school students who wish to pursue a college education. Scholars come from families with annual incomes not exceeding P150,000, and they graduated in the upper 20 percent of their high school.

DBP President and Chief Executive Officer, Reynaldo G. David, said DBP has always taken pride in its social corporate responsibility that is embedded in the core of its mandated developmental role. And this recognition only affirms that DBP is on the right track in its serious efforts to make its CSR initiatives work for the benefit of more and more people in need of urgent and responsive interventions.

President David added that DEEP is one of DBP’s most significant CSR undertakings that taps education. Launched last year, the first batch of scholars consisted of 120 nursing students enrolled in seven partner-schools nationwide. Most of these scholars are children of farmers, laborers, drivers, teachers, housewives, electricians, mechanics, vendors, retired policemen, and soldiers.

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JBIC helps recapitalize banks in developing countries

The Japan Bank for International Cooperation (JBIC) has inked an agreement with the International Finance Corporation (IFC) for providing loans and equity capital, amounting to US$2 billion, to IFC’s Recapitalization (Equity) Fund, L.P. and Recapitalization (Subordinated Debt), L.P., in an effort to recapitalize major local banks in small and medium developing countries and help them stabilize their financial systems.

Combined with developed countries’ efforts to stabilize their financial sectors and proactive responses by the International Monetary Fund (IMF) to support small and medium emerging market countries, these funds are expected to make a significant contribution to the stabilization of the international financial system.

JBIC is committed to addressing the current global financial crisis by mobilizing a variety of its financial instruments, including establishment of these funds, in an effort to perform one of its functions: “responding to disruptions in financial order in the international economy”.

The creation of these funds was agreed between Japan’s Minister of Finance and Minister of State for Financial Services Shoichi Nakagawa and the World Bank Group President Robert B. Zoellick.

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Exim Thailand expands development banking activities

In support to Thai businesses hit by the global financial woes, the Exim Bank of Thailand will continue to assume a more proactive “development banking” role through cooperation with state and private sectors by providing loan, export credit insurance, and financial advisory services for domestic and overseas Thai businesses beneficial to national development.

EXIM Thailand’s President, Mr. Apichai Boontherawara, said that in line with the government’s policy, the Bank will further emphasize its development banking role in 2009. This will furnish Thai entrepreneurs with complete business solutions, ranging from loan, export credit insurance and financial advisory services, to fulfill its commitment to provide “more than just export finance, but also economic development solutions”. The three areas that the bank would focus on are: (1) logistics, such as distribution centers, ports, and international transportation services (2) energy, especially alternative and biomass energy such as garbage power plants, ethanol production and crude palm oil production and (3) Infrastructure and public utilities.

To bolster its proactive role in international trade promotion and support, EXIM Thailand will set up specialized “Country Desk” and “Industry Focus Desk” managed by qualified bank staff members who are knowledgeable on target industries in the CIVIL countries, namely, Cambodia, Indonesia, Vietnam, and Lao PDR.

In helping Thai entrepreneurs explore new business opportunities, the Bank also established the Thai EXIM International Company Limited, on the process of establishing its international presence, and will open its first branch in February 2009 in Moscow, Russia.

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Philexim nets PhP115.5 M in 2008

The Philippine Export-Import Credit Agency (Philexim) posted a net income of PhP115.52 million in 2008, reversing the losses it incurred the previous year as the agency put in place a number of reform measures that boosted its guarantee business.

Philexim President Francisco Magsajo, Jr. said the agency’s net income is reflective of the overall initiatives introduced to turn around the financial performance of the company from a severe loss in the prior year. He added that for the first time in history, Philexim breached the century mark in net profit and said the reform measures which the agency implemented included expediting guarantee applications and cutting on expenses.

For 2009, the agency is eyeing to increase the amount of loans and guarantees given to small and medium enterprises, mostly in the export business, to a total of PhP1 billion from the PhP500 million to PhP750 million it allocated for 2008. The move is one of the measures Philexim is implementing to help exporters cope with the global financial turmoil.

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SME Bank Thailand helps small businesses, laid-off workers

The SME Bank of Thailand gets Bt 6 Billion to provide low-interest rate loans intended for SMEs and industrial and services sectors to mitigate the effects of the current economic crisis. The fund, which will be collaboratively provided by the Thailand’s Ministry Labor Ministry, Finance Ministry and Industry Ministry, is in line with the government’s economic program to alleviate the short-term effect of the financial turmoil.

The low interest rate loan will help SMEs increase investment in their business, provide working capital, and improve their business and services. SMEs may avail loan from Bt 50,000 up to not more than Bt 100 million. Loan interest will be fixed at 5% per year and the loan term will be a maximum of 5 years.

SME bank is also cooperating with the Small Business Credit Guarantee Corporation to help laid off employees who want to get loans to start businesses but lack collateral.

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Seylan Bank offers online facility for tuition fees

In its latest initiative to provide an easy and hassle-free way for parents to pay the tuition fees of their students online, the Seylan Bank PLC is offering an Internet Payment Gateway for educational institutions in Sri Lanka.

Seylan Bank has recently signed up with Lyceum International School as their latest merchant to the Internet Payment Gateway. Lyceum is the largest international school in Sri Lanka, providing variety of subject choices and extra-curricular activities and has branches almost in all the main cities of the country.

This new tie-up between the Bank and Lyceum will enable the parents to pay for their children’s tuition fees online using their VISA card or by simply debiting their Seylan Bank account. During the last few years, Sylan Bank has offered Internet Payment Gateway solutions for a number of clients based locally and overseas to provide merchants the facility to engage in e-commerce by linking their site to Seylan Bank accounts and Visa Network Payments.

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Vnesheconombank, KECIC strengthen cooperation

Both ADFIAP members, Bank for Development and Foreign Economic Affairs (Vnesheconombank) of Russia and State Corporation for the Insurance of Export Credits and Investment (KECIC) of the Republic of Kazakhstan signed a Memorandum of Cooperation (MoC) to beef up trade relations and cooperation. The MoC will further encourage investment activities between Russia and Kazakhstan.The Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev and KECIC Chairman Galym Amerkhodjaev, on behalf of their respective institutions.

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RSB--introduces new financial solution

RCBC Savings Bank (RSB) introduced an innovative new product dubbed as the e-Passbook Savings Account. This product promises to provide the simple recording or bookkeeping functions of the regular passbook while easily keeping track of expenses, bill payments, multiple account movements, and many other financial details.

This value-added product is ideal for business owners who usually do not have an accountant yet but need to monitor their cash flow; busy executives who need to keep track of several expenses and bill payments; and even homemakers who want detailed bookkeeping records of the family’s income flow.

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QCBD adheres to good corporate governance

Philippine-based Queen City Development Bank (QCDB) adheres to high standards of corporate governance. It is through this that the Bank attains its goals and objectives. Principles of good management and transparency enables the Bank to provide a more sustainable increase in the value of the company.

Queenbank believes that proper principles and practices are indispensable in achieving its primary goals in enhancing and maximizing the growth and development of shareholder value and ensuring the trust and confidence of its investors and depositors.

The Securities and Exchange Commission’s (SEC) Code of Good Corporate Governance is the basis of Queenbank’s corporate governance policies. The Code was created in the pursuit of best practices of transparency, disclosure, compliance to applicable laws and regulations, stewardship and accountability to owners, employees and depositors of the Bank.

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PPSB chairs 11th Postal Savings Bank Forum

Philippine Postal Savings Bank President and CEO Virgilio A. Mortera presided over the 11th Postal Savings Banks Forum held in Brussels, Belgium last November 3-4, 2008. The event, sponsored by the World Savings Banks Institute (WSBI) was graced by representatives from WSBI member-institutions coming from Central Europe, Africa, and Asia.

The meeting tackled the future of postal banking in an effort to explore potential avenues for development of postal financial services on a sustainable manner. Themed “Developing a Promising Future for Postal Banking in a Challenging Environment”, the discussions aimed at addressing four (4) challenges and areas of concern in the banking industry: payments, marketing and management, partnerships and access to finance.

The forum provided member institutions the opportunity to exchange ideas and experiences, including prospects in forging bilateral agreements for the provision of efficient financial services within and outside their respective countries. Other PPSB officials who participated in the two-day conference were Directors Bituin V. Salcedo, Ma. Corazon K. Imperial, and Romualdo D. Menzon.

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LWUA provides funds to non-operational water districts

The Manila-based Local Water Utilities Administration (LWUA) has announced that it will spend PhP 868 million for water infrastructure development projects to activate 94 currently non-operational water districts to enable them to provide piped potable drinking water supply to some 246,000 people in their areas within the year.

LWUA Board Chairman Prospero A. Pichay, Jr. said the projects to activate the non-operational water districts is part of the Philippine President Gloria Macapagal Arroyo administration's legacy program to provide safe water supply to all barangays by 2010.

Pichay said another PhP 447 million has been earmarked under the same DOH-LWUA locally funded investment program for the construction of potable water systems for the so-called waterless municipalities within the area of responsibility of LWUA. This is on top of the PhP 500 million fund from the Department of Public Works and Highways (DPWH) under the Presidential Priority Program on Water (P3W), PhP 69 million of which have already been released to LWUA for other waterless municipalities as earlier identified by the National Anti-Poverty Commission or NAPC, Pichay added.

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NIB launches Salaam banking in Pakistan

NIB Bank Limited has launched the NIB Salaam Banking, a full range of banking products and services dedicated to meeting the financial needs of Pakistan’s small businessmen.

The Bank dedicated 100 branches out of its network of 240 branches to Salaam Banking in 46 cities across Pakistan. With more than 2,500 employees and equipped with the latest technology, Salaam Banking provides the full range of financial services including deposits, loans, insurance, and transactional products.

Salaam Banking is based on the philosophy of respect for the small businessmen who work very hard that resulted in the contribution to growth and development of the economy. To demonstrate this respect further, NIB designed hassle free policies and processes, including elimination of unnecessary paper works that sometimes irritated their clients. The Bank also designated Salaam Banking Relationship Officers who take care of all the needs of their small businessmen clients, including imparting techniques and strategies on how to grow their businesses successfully.

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Pak Brunei runs novel Speakers Series

The Pak Brunei Investment Company has instituted the “Distinguished Speaker Series” program in an effort to give boost to its human capital development program through interactions and dialogues with government, business and academic leaders.

Pak Brunei started this series by inviting Dr. Ishrat Hussain, the current dean of IBA and has served as Governor State Bank of Pakistan, for a discussion on the current economic environment and ensuing risks and opportunities.

The second session was tackled by Mr. Khalid Mirza, Chairman of the Competition Commission of Pakistan, where he discussed the importance of strict regulatory measures in a developing economy as well as the role of Development Financial Institutions in the current economic environment and the challenges faced by them.

Both sessions were followed by an interactive question and answer portions with the speakers.

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HBFC maintains ISO Certification

House building Finance Corporation (HBFC) is continually enjoying the ISO certification that it attained in 2007. Moody International (MI), a multi-accredited certification body, has confirmed the continuation of HBFC’s ISO certification based on the 1st yearly surveillance audit of HBFC operations by its auditors in December 2008.

This certification and its continuation imply that the Quality Management Systems (QMS) of HBFC Ltd conforms to the requirements of the internationally-accepted ISO 9001:2000 Standard. The HBFC is the only housing finance company in Pakistan having ISO certification covering its overall operations and overall position of the organization.

The ISO certification is one of the projects HBFC management has embarked upon since 2005 to improve the operations and overall position of the organization.

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SME Bank Malaysia reduces prime rate

Bank Perusahaan Kecil & Sederhana Malaysia Berhad (SME Bank) has reduced its prime rate to 5.95 percent effective February 3, 2009. The reduction is in line with the downward revision in Bank Negara's overnight policy rate, which was announced on January 21, 2009. Prior to the reduction, the prime rate for SME Bank was 6.5 percent.

SME Bank's Managing Director, Dato' Azmi Abdullah said the cut is the part of the Bank’s ongoing commitment in supporting the SME entrepreneurs to sustain their businesses during this period of economic crisis.

SME Bank hopes that the reduction could help sustain the economic growth. SME Bank is a development financial institution focusing on financial assistance and advisory services to the small and medium industries in Malaysia.

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KDB issues USD2 billion overseas bond

Korea Development Bank (KDB) has issued USD 2 billion of 5-year fixed-rate global bonds without government guarantee on January 6, 2009. The bonds were sold at the spread of 615 basis points over the London Inter-bank Offered Rate.

KDB successfully raised a large amount of long-term foreign funds by taking the advantage of the stable market conditions at the beginning of the year. The issuance helped the Bank secure liquidity by taking a preemptive action in preparation for deteriorating global credit conditions.

KDB’s global bond issuance, along with the recent issuance by Korea Eximbank, will serve as a breakthrough for other Korean banks and companies to resume their fundraising in the global market.

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JBIC responds to global crisis with new facilities

In response to the global financial turmoil, the Japan Bank for International Cooperation (JBIC) has launched two facilities as exceptional measures to support exports and overseas business operations of Japanese firms. These facilities are: suppliers credit (S/C) to finance Japanese exports to developing countries (credit for exporters) and loans for major domestic firms to finance their investment projects in developing countries (overseas investment loans). They were established as a temporary measure to be terminated at the end of March 2010 based on the Emergency Measures to Defend People’s Daily Lives decided by the Ministerial Meeting on Economic Measures on December 19, 2008, and the pubic notice issued by the Ministry of Finance on December 25, 2008.

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FNPF ably secures investment portfolio

The Fiji National Provident Fund (FNPF) will continue to review its investment portfolio to ensure that smart strategies are implemented to cushion the effect of the global financial crisis.

FNPF Chief Executive Office Mr. Aisake Taito said while the overall impact of the crisis will be minimal, the FNPF envisages that its investment in the tourism sector may be affected. He added that the bulk of the Fund’s investment are in cash and fixed interest investments, predominantly Fijian government securities which means that the impact of the crisis is negligible.

Mr. Taito said FNPF’s domestic portfolio mostly comprises blue chip stocks and is confident that the prices of these will continue to stabilize to reflect the Fund’s underlying value. FNPF’s total investment portfolio currently stands at $3.4 billion.

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Landbank net income hits record PhP 5.02B

Land Bank of the Philipines (Landbank) reported a net income of PhP 5.02 billion in 2008, the highest in its 45-year history. Land Bank Chief Executive Officer Ms. Gilda Pico said the PhP5.02 billion is 19% or PhP800 million, higher than the PhP4.21 billion net income recorded in 2007.

Ms. Pico added that Landbank’s high scores in its core performance indicators were more pronounced amidst the softening in profits of the commercial banking industry. The bank’s focus was clearly reflected in its expansion in loans to the priority sectors, profitability, growth in deposits and assets, and improvement in loan quality.

She attributed the rise in Landbank’s net income to revenues generated from investments that surged by 30% to PhP 12.01 billion from the PhP9.25 billion recorded last year. Landbank’s priority sectors include the farmers and fisherfolks, micro, small and medium enterprises, agri-infrastructure, agribusiness and other agri-and environment-related projects.

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IFCI is nodal agency for India’s Sugar Fund

IFCI, www.ifciltd.com, is the nodal agency for the monitoring of the Sugar Development Fund (SDF) loans for projects related to the modernization and expansion, co-generation of power and production of alcohol/ethanol in the private sector.

As a nodal agency, IFCI undertakes loan documentation, creation of security, recommendations to the Government of India for disbursement of funds, monitoring the progress of projects during implementation and operations, recovery of SDF dues and furnishing clarifications to queries of SDF.

In line with its mandate for industrial development, IFCI in its role as the nodal agency for SDF has of todate, facilitated the sanction and disbursement of SDF loans to 271 projects for an aggregate sanctioned amount of Rs 2414.03 crore.

The SDF was instituted by the Indian government in 1982 with the objective of rendering financial assistance through loans at concessional rates for the rehabilitation and modernization of sugar factories as well as for sugarcane development. The scope has subsequently been enlarged to cover projects involving bagasse-based co-generation of power and production of Anhydrous alcohol or ethanol from molasses undertaken by sugar factories.

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SIDBI takes lead on SME promotion in India

Small Industries Development Bank of India (SIDBI), www.sidbi.com, is implementing a World Bank-led multi-agency, multi-activity Project on Financing and Development of SMEs. While SIDBI has been assigned with the responsibility of implementing the project, the Department of Financial Services, Ministry of Finance, Government of India is the nodal agency for the same. The IBRD, the U.K.’s Department for International Development (DFID), KfW Germany and GTZ Germany are the international partners in the project.

The project is aimed at making SME lending an attractive and viable financing option as also facilitate increased turnover and employment in the sector. In order to achieve its aims, the project, besides upgrading direct flow of credit to SMEs, addresses demand side issues of credit and streamlining access to qualitative financial and non-financial enterprise-oriented services. This is being done with support of a Technical Assistance to be utilised for strengthening the credit information system, credit rating, credit scoring, structuring of innovative products, capacity-building of the participating banks, policy and regulatory issues and promotion of market oriented business development services for the sector.

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DBJ establishes EMTN Programme

The Development Bank of Japan (DBJ), www.dbj.jp, has established its Euro Medium Term Note (EMTN) programme of 100 billion yen for non-guaranteed bonds on August 14, 2008. DBJ’s greater flexibility in bond issuance through this programme will enable it to diversify its financing methods and expand its investors base, increasing the stability of its fundraising ahead of its coming privatization.

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EDB finances Superjet project

The Eurasian Development Bank (EDB), www.eabr.org, entered into a loan agreement with Grazhdanskiye Samolyoty Sukhogo (GSS) as part of a project to develop the new Russian regional jet Sukhoi Superjet 100. The agreement was signed by Sergei Ryabov, Deputy Chariman of EDB Executive Board, and Maksim Grishanin, Senior Vice President of GSS.

Financing will be provided via a credit line with a limit of $100 million, which will be opened for ten years. The Bank’s resources will be applied for the specific purpose of completing prototype models and launching the manufacture at an initial level and Russian and international sales of Sukhoi Superjet 100.

The Sukhoi Superjet 100 project is fully in line with the Bank’s strategic goals, as it will contribute to both the promotion of high-technology and sustainable development of the Russian economy. Notably, about 2,000 jobs with competitive remuneration have been created in GSS’ production premises in Komsomolsk and Novosibirsk and the headquarters in Moscow.

The new Sukhoi Superjet 100 design is being developed by a potent international consortium and, due to its high export potential, will enable Russia to regain its competitive position on the global passenger jet market. To date, SSG has standing orders for 98 new jets from Russian and foreign airlines.

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Pak-Oman gets high governance rating

Pak Oman Investment Company, www.pakoman.com, received a high Corporate Governance rating of CGR-9 by the JCR-VIS Credit Rating Company. This is the second year in a row that Pak Oman has received this high rating. These ratings are based on a scale ranging from CGR - 1 to CGR - 10, with 10 being the highest. The assigned rating denotes a “very high level of corporate governance”.

The ratings are arrived at after evaluating key governance areas of the rated enterprise, which include regulatory compliance, ownership structure, composition and operations of the board of directors and executive management, self regulation, financial transparency, and relationship with stakeholders.

The rating assigned to the Pak Oman is a positive reflection of the conscious effort on the part of both the Board of Directors (BoD) and the executive management towards developing a corporate culture at the Pak Oman based on good governance.

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DBP, JBIC sign loan agreement for environmental development

The Development Bank of the Philippines (DBP), www.devbankphil.com.ph and the Japan Bank for International Cooperation (JBIC) www.jbic.go.jp. both ADFIAP members, signed a 24.8 billion Yen (P11.66-billion) loan agreement for the Environmental Development Project (EDP) that will finance various environmental initiatives in the country.

The EDP will provide local government units (LGUs), government-owned-and controlled-corporations (GOCCs), cooperatives, water districts, private corporations, and private water service providers with long-term funds through DBP and its participating financial institutions to mobilize, encourage, and support activities and investments in environment-friendly projects.

The EDP will also support innovative multi-level collaboration in the provision of water supply and sanitation to poor communities particularly in far-flung areas of the country through its sub-program, the Philippine Water Revolving Fund (PWRF).

The PWRF is a financing scheme for water supply and sanitation projects designed to use limited public sources to leverage private sector financing in the water sector and limit the use of sovereign guaranteed loans from multilateral and bilateral banks and foreign donors to fund local water projects. It also aims to bring private sector financing to the water sector on terms and conditions affordable to local users.

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DBP prepays foreign loans

The Development Bank of the Philippines (DBP) will prepay some of its foreign-currency denominated loans ahead of schedule which should allow the state-run bank to save on interest costs. DBP will pay 2.4 million Euros to Finland-based multilateral development financing organization Nordic Development Fund for a loan availed on May 4, 1992, which is scheduled to mature on Jan. 15, 2032.

It will also prepay four billion won owed to the Export-Import Bank of Korea for a loan received on August 10, 1995 that is set to mature on July 20, 2015. DBP will also prepay a total of $27.9 million to the International Bank for Reconstruction and Development (the World Bank) for loans that were granted on August 2, 1989 and April 23, 1993 scheduled to mature on August 1, 2009 and August 15, 2012, respectively.

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BDC bares good results for 2008

The Business Development Bank of Canada (BDC) made public its annual report which contains its financial statements for the year ended March 31, 2008. The results revealed a growth of $865 million or 9% in its loan and investment portfolio to reach a total portfolio of $10.6 billion. This enabled BDC to generate a net income of $84.6 million for the year. In fiscal 2008, dividends totaling $21.5 million were declared to BDC's shareholder, the Government of Canada. Since 1997, BDC has declared $156.7 million in dividends to its sole shareholder.

BDC President and Chief Executive Officer, Mr. Jean-Rene Halde, said that this year’s record increase in BDC’s loan and investment portfolio shows that the Bank plays a key role in supporting entrepreneurs, even when uncertainty in the market place reduces the credit supply for Canadian business owners. He added that BDC remained committed to helping the entrepreneurs thrive by providing them with highly tailored financing solutions, by sharing their willingness to take risk, and by being partner they can count on long-term.

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CDB finances water pollution abatement

China Development Bank (CDB) has provided a mid-and long-term development financing loan totaling 1.2 billion yuan to cope with water pollution in Taihu Lake in east China. The loan project, the first to be implemented to deal with water pollution in the area, came into effect after the Jiangsu Provincial Government signed the "Taihu Lake water environment harness cooperation agreement" with the CDB in January this year. The total investment of the project is 2.68 billion yuan consisting of a capital fund of 1.48 billion yuan and the CDB financing of 1.2 billion yuan. The construction includes three major parts, namely, the water disposal project, essential facilities, and the related relocation and greening projects.

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BCI enhances CSR initiatives

As a responsible institution to the community it is serving, the Bank of Cook Islands (BCI) is practicing corporate social responsibility (CSR) by involving itself in sponsoring community activities and worthwhile society objectives like supporting schools, health and professional organizations, among others.

For two consecutive years (2006-2007), BCI was the principal sponsor for CIBPWA (Cook Islands Business and Professional Women’s Association) “Success Series”, a professional body recognizing and promoting the contribution made by women to the community and professional advancement.

Also in 2007, the Bank sponsored the Cook Islands Women of the Month Award, a program organized by the Cook Islands National Council of Women and The National Olympic Committee that recognizes women who have made a valued contribution to their community and society in general. BCI has also maintained a weekly newspaper column dedicated to the benefit of young writers to express their views and enhance their writing skills. Going forward, BCI will continue its focus on sponsorship to recognize projects that will benefit the people of the Cook Islands.

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FDB promotes culture of savings

In its effort to educate the school children on the importance of saving while still young, the Fiji Development Bank (FDB) gave awards to four Fijian schools for being the best schools selected for its Money $mart Program. The Awards were given to the Labasa Arya College, Holy Cross Secondary, Nadi Muslim College and Rishikul Sanatan College. The four schools expressed their gratitude to the FDB and likewise the FDB congratulates them for satisfying its benchmarks for the said program and appreciated the efforts of the teachers to encourage the children to save.

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Exim-Bank-India-inks-credit-lines-with-Myanmar-Bank

Exim Bank of India has, at the behest of Government of India, signed two Line of Credit Agreements with the Myanmar Foreign Trade Bank for US$ 64.07 million and US$ 20 million for financing respectively, three transmission lines (Thahtay Chaung- Oakshitpin 230 KV; Thahtay Chaung - Thandwe - Maei-Ann 230 KV and Thandwe - Athoke 230 KV) and an Aluminum Conductor Steel Reinforced (ACSR) wire manufacturing factory with a total annual output capacity of ACSR 10,000 tons and galvanized iron wire of 4,000 tons in Myanmar. The agreements were signed during the visit of the Minister of State for Power and Commerce and Industry, Mr. Jairam Ramesh to Myanmar, by Mr. Sunil Trikha, Chief General Manager, on behalf of Exim Bank and Mr. Than Ye, Managing Director, on behalf of Myanmar Foreign Trade Bank, in the presence of the Minister for National Planning and Economic Development for Myanmar, Mr. Soe Thar.

Under the LOCs, Exim Bank reimburses 100% of contract value to the Indian exporter, upfront upon the shipment of goods/provision of services. Besides promoting India's exports, Exim Bank's LOCs enable demonstration of Indian expertise and project execution capabilities in emerging markets. With the signing of this LOC Agreement, Exim Bank has now in place 97 Lines of Credit, covering 90 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments amounting to US$ 3.17 billion, available for utilization for financing exports from India. Exim Bank's LOCs afford a risk-free, non-recourse export financing option to Indian exporters.

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IDBI supports Indian farmers with debt waiver/relief schemes

IDBI Bank Ltd., the new generation public sector Bank with its pan-India presence, has implemented the Agricultural Debt Waiver and Debt Relief Scheme 2008. The senior officials of the Bank visited the Agri branches concerned to oversee the progress of implementation of the Scheme. The Bank has displayed the list of eligible farmers under the Scheme in its branches. Debt waiver and debt relief amounts of the Bank aggregated nearly Rs. 46 Crore. The Bank has already started distributing debt waiver certificates to the eligible farmers. IDBI rides on a state-of-the-art Information Technology (IT) platform to structure and deliver personalized banking services and customized financial solutions to its clients.

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BIM gets stable rating

Fitch Ratings has assigned Bank of Industry and Mine (BIM) a long-term rating of B+, short-term B, individual D, support 4 and support floor B+. The long-term rating outlook is stable. The short-and long-term IDRs and support ratings of the Bank reflect potential support from Iranian government. Its individual rating reflects its strong franchise in financing Iran's industrial and mining sectors, sound capital ratios and good cost efficiency.

Despite a very high loans/deposits ratio, BIM's liquidity is adequate given that a large part of funding is long-term and essentially from the government and public sector or its own equity base. BIM presents its accounts in accordance with Iranian accounting standards which incorporate Islamic accounting principles. BIM's expenses compare well with international standards and is trying to reduce operational risk by improving its IT system.

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JBIC restructures international operations set-up

Effective July 1, 2008, the Japan Bank for International Cooperation (JBIC) has realigned its departments which conduct International Financial Operations (IFOs). The function of the Project Finance Department has been delegated to the International Finance Departments I, II and III, as well as the Energy and Natural Resources Finance and Corporate Finance Departments. These line departments are able to have all the financing instruments and schemes, including project financing, at their disposal and to provide them in a consistent manner.

Having its organizational capacity enhanced by the realignment above, JBIC has also created the "Project Finance Committee" consisting of the line departments and the International Finance Policy Department, as well as "Project Finance Group" within the latter department. The move is intended to further enhance the high-quality service that JBIC offers for mobilizing loan and guarantee functions in project finance. By efficiently combining their individual functions, all the line departments of JBIC will proactively meet the needs of financing in project finance.

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DBK gets credit facility from China

The Development Bank of Kazakhstan (DBK), www.kdb.kz, sealed a US$300 million credit facility with the Exim Bank of China during a visit of the Kazakh government, headed by Karim Massimov, the Prime Minister of Kazakhstan, to the People’s Republic of China. The agreement was signed by Mr. Mukan Sagindykov, Chairman of the Board of DBK and Mr. Li Zhougu, Chairman of the Exim Bank of China.

This is the second credit facility concluded by DBK with a Chinese bank during this year. In February 2008, DBK concluded a credit facility agreement with the Development Bank of China in the amount of $100 million for financing long-term infrastructural projects in energy production, transport and communication, chemical and petrochemical industries, and metallurgy. According to the agreements with the Chinese partners, the volume of credit facilities will be increasing in the course of their disbursement.

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KDB partners with China's CICC

The Korea Development Bank (KDB) and the China International Capital Corporation (CICC) signed an MOU designed to facilitate consulting on Korean companies’ IPO in markets of Mainland China and Hong Kong. The signing was made on July 8, 2008 between Mr. Euoo Sung Min, Chairman and CEO of Korea Development Bank, and Mr. Levin Zhu Yunlai, CEO of China International Capital Corporation (CICC).

The signing took place in line with the opening of KDB’s Beijing branch under the Bank’s vision to develop itself into Asia’s leading investment bank. The MOU bears particular significance as KDB’s counterpart is the No. 1 investment bank in China. CICC is the leading investment bank of China. Since its establishment in 1995, the corporation has conducted successful IPOs in Shanghai and Hong Kong for major Chinese enterprises, including Petro China, Industrial and Commercial Bank China (ICBC), and China Construction Bank (CCB).

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Landbank posts 10% income growth

Government-owned Land Bank of the Philippines (Landbank) registered higher profits for the first half of the year as more consumers availed of loans and as the Bank earned from its investments and fee-based transactions.

Landbank president and chief executive officer (CEO) Ms. Gilda E. Pico reported that its net income in the first half of the year reached P2.56 billion, up by 19 percent from the P2.15 billion a year ago. The Bank’s total revenues for the first semester also grew by three percent to P12.3 billion from only P11.9 billion in 2007. Ms. Pico also reported that Landbank’s assets as of June 2008 reached P370 billion, slightly higher that the P369.8 billion it registered a year ago.

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TDB opens new nostro account with Swedish Bank

The Trade and Development Bank of Mongolia (TDB), www.tdbm.mn, has announced the opening of a new nostro account with the Nordea Bank AB of Sweden, thus facilitating Swedish Krona (SEK) settlement between the two countries.

TDB has so far established correspondent relations with more than 80 banks in the world and had 24 accounts held with foreign banks in 14 different convertible currencies. With its international banking relationships, TDB is now able to offer to its customers international settlement and currency exchange in a fast and accurate manner at lowest cost.

With this new opening of an account in Sweden, TDB confirms its position in the Mongolian banking sector as an “international face of Mongolia”.

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NDB supports students Games

As part of its corporate social responsibility, the National Development Bank (NDB) of Palau supported the bi-annual National Union of Students (NUS) Games with monetary value this year. NDB believes in investing to the future leaders of Palau - the students - and hopes that the event will not only be a sports meeting to display good sportsmanship but an opportunity for students to demonstrate leadership qualities and exchange ideas about issues of interest and finding amicable solutions. NDB is the country's small people’s bank and helps to make a difference for those who are determined to improve their livelihood.

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Vnesheconombank assists in export diversification

Both state-owned Bank for Development and Foreign Economic Affairs (Vnesheconombank), www.veb.ru, and Rostechnologies signed an agreement of cooperation (MoC) to promote a long-term, effective and mutually beneficial cooperation partnership in implementing investment projects aimed at developing and manufacturing high-technology industrial products as well as supporting industrial exports and services to diversify national exports.

Under the agreement, Vnesheconombank will assist in conducting a comprehensive expert’s examination of investment projects and structuring them with the participation of Rostechnologies, as well as in raising and/or co-raising funds to finance them, including using a leasing mechanism. The Bank will also offer consulting services on issues associated with these projects’ implementation. For its part, Rostechnologies will implement investment projects and provide all necessary information for working out potential schemes for financing these projects.

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LDB raises loan portfolio

Sri Lanka's Lankaputhra Development Bank (LDB), www.lankaputhra.lk, in its first full year of operations has achieved considerable progress in its given task. LDB’s loan portfolio in the year 2007 increased to Rs 1,665.5 million compared to Rs 427.8 million during its first year of operations, commencing in the latter half of 2006.

In first quarter of 2008, loan portfolio of the Bank has increased to Rs. 2,400 million. The sectoral distribution of advances shows a significant increase in agricultural and fisheries sectors at Rs. 400.5 million, which is 24% of the total advances compared with only 10% in the previous year. The manufacturing sector too has recorded an increase of Rs. 722.6 million or 57% of the total portfolio. Agricultural, fisheries and the industrial sectors has accounted for over 80% of the total advances given. This sectoral distribution gives an indication of the potential that is awaiting to be harnessed in these areas.

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Exim Thailand launches trade & investment portal

EXIM Thailand launched its new web-based “Export and Overseas Investment Information Center”, www.exim.go.th, to furnish Thai entrepreneurs and the general public with easily accessible and comprehensive information on economic situation in Thailand and its trade counterparts. Serving as a portal to related agencies’ website, the information center also provides online country information, prospects of Thailand’s agricultural and industrial products as well as information on the Bank’s services.

EXIM Thailand President Dr. Apichai Boontherawara said the new Information Center will help ease the access of Thai exporters, investors, and the general public to updated news and information on economic circumstances and international trade and investment movements, enabling them to more accurately assess the current economic situations and future trends of Thailand and its trade partners. In effect, the new service will better prepare the Thai business sector for global market competition, open up new business opportunities and lead to their success in both domestic and international marketplaces.

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TDB assists youth business initiatives

The Tonga Development Bank (TDB) continues to provide support to the development of business initiatives among the youth. Over the past years, the Bank has provided assistance by sponsoring various youth programs through the Tonga National Youth Congress. In 2007, the Bank began to extend its grants to assist development of youth business initiatives that promote Small Business Development and Future Farmers of Tonga.

In 2007, the TDB made a provision of a $10,000 grant to assist the Tonga National Youth Congress (TNYC) to cover youth workshops and for the facilitation of youth micro-credit loan programs for business initiatives. The first installment of $6,000 was provided towards the Tongatapu Youth Congress (TYC) to assist facilitation of youth workshops/training and micro-credit loan programs for Small Business Development and Future Farmers of Tonga.

In 2008, the TDB has made another provision of a $5,000 grant. This is the second year the Bank has made provision as a grant to assist youth business initiatives to promote Small Business Development and Future Farmers of Tonga. The focus for this year is to assist development of business initiatives among Vava’u & Ha’apai youth.

The first installment for 2008 Grant provision is $2,000 and will be granted to Vava’u Youth Congress to assist facilitation of the micro-credit loan program for Small Business Development and Future Farmers of Vava’u. Further provision of grant will be considered upon utilization of funds and successful loan projects.

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NDBP Adopts New Financial Analysis Software

The National Development Bank of Palau (NDBP) installed and underwent training for its new financial analysis software Optimist from Inmatrix.

Trainers from vendor RiskMatize out of the Philippines installed the product and provided training services. This new client/server based solution will allow the NDBP to better market its services to the community and reduce its turnaround time for processing micro, small and medium enterprise (MSME) loan applications. The Bank also plans to use this software as a tool to improve financial decisions made in the business community as a new service.

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CESMED forms new company in the U. S.

The Centre of SME Growth & Development Finance (CESMED), in its pursuit of globalizing its activities, has incorporated a new company called “Centre of SME Growth & Development Finance LLC” in Fortworth, Dallas, Texas to primarily concentrate on developing micro and SME sector in North and South Americas, Europe and Africa. In addition, it will also sensitise the financial sector to support SME sector liberally. Meanwhile, at the invitation of the Government of Switzerland's Swiss Agency for Development and Cooperation (SDC), CESMED and SDC have entered into a partnership agreement on “Trade and Sustainable Development and Financing“ mainly for facilitation of South–South multilateral economic co-operation with special focus on Greater Mekong Region and India. CESMED is collaborating with SDC in overseeing, among other activities, recently commissioned “Ganga-Mekong Project” and “India-Brazil–South Africa (IBSA) programme” funded by SDC and being implemented by CUTS, an international NGO from Jaipur, India.

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DBAS administers HOME program

The Development Bank of American Samoa (DBS) is administering the HOME program of the American Samoa Government funded by the United States Department of Housing and Urban Development (HUD) with an annual program outlay of approximately US$ 350,000.00 for the territory of American Samoa. The HOME program provides low-interest loans for construction of new homes as well as renovation of existing homes for low-income households.

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BEDB briefs Kuwaiti business delegates

The Brunei Economic Development Board gave a briefing on Brunei’s economic opportunities to a small business delegation from Kuwait visiting the country on July 25, 2008. The briefing, which took place at the iCentre in Anggerek Desa, began with welcoming remarks by YAM Pengiran Kerma Raja Pengiran Haji Kamarulzaman bin PPSDSB Pengiran Haji Ali, Acting Chairman of BEDB. It was later followed by a short video presentation and a briefing on Brunei’s economic opportunities by Mr. Vincent Cheong, Chief Executive Officer of BEDB. The event concluded with a questions and answers session and a brief tour of the iCentre.

Taking Kuwait as an example, Yang Amat Mulia in his welcoming remarks,

highlighted a number of areas in which Brunei can leverage on. He also welcomed Kuwait participation in Brunei’s diversification efforts particularly in the downstream industries as well as financial services.The Kuwaiti delegation is in Brunei in conjunction with a three-day official visit by the Prime Minister of Kuwait, His Highness Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah.
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NDBP Hosts Energy Workshop

The National Development Bank of Palau (NDBP) will host a one-day Workshop on Energy Efficiency and Renewable Energy on June 24, 2008 in Palau at the Palau International Coral Reef Center Conference Room. This by-invitation only workshop is part of the Bank’s initiative to develop an energy loan program to reduce household utility costs in this increasingly high energy price market. Mr. Herbert Wade, an international energy expert, will be the main resource person for the event.

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DBP takes over Al-Amanah Islamic Bank

The state-owned Development Bank of the Philippines (DBP) has taken over Al-Amanah Islamic Investment Bank following final approval from monetary authorities.

After complying with regulatory requirements, the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) said the policy-setting Monetary Board approved DBP’s acquisition of 90.6 percent of the country’s only Islamic bank.

Under Islamic banking laws, Al Amanah would have to operate as an Islamic bank but the BSP allowed the Bank to retain conventional banking for a short period to enable it to establish stronger financial footing.

This provision was originally approved by the BSP to entice private investors to buy into Al-Amanah when the National Government put it on the auction block last year.

DBP is taking over Al-Amanah after the government failed to privatize it last year. DBP’s website address is at www.devbankphil.com.ph

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Bank Pertanian is now Agro Bank

Bank Pertanian Malaysia is now Agro Bank Malaysia, the Agricultural Bank of Malaysia. It is a government-owned bank which main role is to promote the agricultural sector through mobilization of lending facilities and savings in rural areas.

Agrobank will be able to not only help small time entrepreneurs in the agriculture industry but also help firms in the industry to venture abroad, said Malaysia’s Second Finance Minister Tan Sri Nor Mohamed Yakcop.

Agrobank, which has 173 branches nationwide, has approved loans amounting to RM15.3 billion as of last year. It has deposits and savings amounting to RM4.58 billion and its account holders total two million in number.

In December 2007, the Dewan Rakyat passed the Bill to corporatise Bank Pertanian to enable the bank to offer a wider range of products and raise its competitiveness. Its paid-up capital was increased to RM1 billion from RM42.5 million to increase its role and capacity. Pointing out that Malaysia still greatly depended on the import of food products, Nor Mohamed also called on the bank to come up with strategic measures to encourage more farmers to penetrate the food production industry to change the current situation.

The corporatization will enable the bank to offer competitive and comprehensive financial products and venture into new business activities which the bank is currently unable to undertake due to the limitation of the current BPM act. Among the new products and activities will be agriculture, life and general insurance, credit card service, credit guarantee, investment, capital market, internet banking and current account.

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HBFC made record disbursement of over rs.3.5 billion in 2007

The House Building Finance Corporation Limited (HBFCL) provided 6400 housing loans of over Rs 3.5 billion during the year 2007 and achieved record growth of 58% over previous year’s disbursement of Rs. 2.2 billion.

Terming it a landmark achievement for HBFC, its Chairman and Managing Director, Zaigham Mahmood Rizvi, said that this is the highest amount ever disbursed in a year, during the entire history of the Corporation, spread over 55 years of its existence. HBFC’s Business Growth Plan has been prepared by CMHC-International of Canada with the Technical Assistance of International Finance Corporation (IFC). The target for year 2008 is Rs 7.5 billion to be gradually raised over the years. By the year 2016, HBFC is targeting a yearly housing finance of Rs40 billion per year. Due to growth in business, as per Business Plan, HBFC’s Balance Sheet size is projected to reach at the level of Rs250 Bn by the year-2016.

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EDB gives credit line to develop SMEs

The Eurasian Development Bank (EDB) and AO Bank Center Credit (BCC) have signed a credit agreement for a loan of US$70 million for five years. Stipulated in the agreement was for BCC to use the fund to:

to support the development of the private sector in both Russia and Kazakhstan, particularly to finance small- and medium-sized businesses that are geared towards the modernization and diversification of the goods and services sector;
for the expansion of joint trade and investment in economic programs of the EDB’s member states; and
for the output of competitive products in the non-raw materials sector.

The agreement was signed by BCC Chairman Vladislav Lee and EDB Deputy Chairman Evgeny Prilepsky. Lee commented that the loan will help to finance businesses that will continue to expand the development of the real sector of the economy. While Prilepsky added that this is a first step for the EDB into the financing of economic development in its member states through commercial banks. He added that EDB is expected to become a significant resource in the development and support of small- and medium-sized enterprises.

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EFIC survey shows Australian companies fund overseas expansion

Australian companies are compelled to rely upon their own profits to fund overseas expansion due to limited access to finance, according to a new survey by the Export Finance and Insurance Corporation (EFIC).

The first of what will be an annual survey, the EFIC Global Readiness index (GRi) surveyed almost 500 Australian businesses across the country - mainly SME’s - to identify what were the key drivers and obstacles to overseas expansion.

It found that up to 73% of Australian companies used retained earnings to finance their offshore expansion, yet 35% used a debt facility from an Australian financial institution, and as little as seven percent from a foreign institution.

The survey also found that 92% of companies expanding offshore are doing so in order to increase revenue or market share while only 29% nominated reducing costs as a driver.

Offshore investment by Australian companies is now almost equal to foreign businesses investment in Australia, with Australian companies investing $318b offshore in 2007, compared with the $357b of foreign direct investment into Australia.

EFIC is an state-owned institution with website address at www.efic.gov.au

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IPDC of Bangladesh launches auto loan program

IPDC (Industrial Promotion and Development Company) of Bangladesh Limited has launched an Auto Loan program for its clients. The launching was made during a “Partnership Night” organized by IPDC in the presence of the members of the Bangladesh Reconditioned Vehicle Importers & Dealers Association (BARVIDA).

The Auto Loan Program of the IPDC is another form of service for its mass consumers, aside from the many services it has already offering, which aims toward achieving customer satisfaction by providing competitive rates and good services. A customer can avail loan amount of minimum BDT 500,000 to maximum limit approved by Bangladesh Bank. IPDC is committed to serve each applicant with the approval facility within 48 hours after applying upon meeting the requirements.

IPDC of Bangladesh Limited is one of the leading Financial Institute, serving its clients successfully for the last 26 years since its inception in 1981.The equity of IPDC is shared among Aga Khan Fund for Economic Development (AKFED), Government of Bangladesh and General Public.

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LBP sets 10 billion more for agri-infra

Government financial institution (GFI) Land Bank of the Philippines (LBP0 will release an additional P10 billion agri-infra financing for local government units (LGUs) this year.

Land Bank President Gilda Pico said the fund is ready whenever the government needs it. As of March this year, the bank has released an outstanding P17 billion for agri-infra.

LGU agri-infra financing would usually involve projects for farm-to-market roads, even farm equipment and for their expenditures.

The National Government (NG) may get up to P15 billion from Land Bank and another GFI Development Bank of the Philippines (DBP) for a total of P30 billion as additional funds for infrastructure spending this year.

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CDB initiates another donation campaign for quake victims

The campaign of "Unity is strength - another donation campaign of the employees of the Head Office of China Development Bank for the people in the quake zones" was held in Beijing, where 1,082 party members voluntarily paid "special party membership dues" of RMB 1.879 million, RMB 1,737 per capita for the disaster relief; meanwhile, the entire on-the-job and retired employees of the Head Office raised over RMB 1.673 million for the earthquake stricken areas.

The branches of China Development Bank have initiated the second round of donation campaign for the earthquake stricken areas. The employees unanimously expressed the idea that "with joined hands, love has no boundary; under the strong leadership of the Central Communist Party Committee and with the significant support of the people, the great Chinese nation will win a total victory in fighting the disaster".

China Development Bank had donated RMB 16.67 million worth of money and materials to the earthquake stricken areas and granted emergency loans of RMB 486 million to Gansu, Sichuan, Shaanxi and Yunnan, etc. for the most needed road construction and purchase of disaster relief materials.

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FNPF implements change management

Changing global trends, customer needs and the general way in which organizations conduct their business have forced the Fiji National Provident Fund (FNPF) to review its business operations. Thus the birth of the Change Management team, who will spearhead changes for the Fund to ensure improved services to its customers.

Major changes have occurred within the Fund in the last 12 months, including movements within the Fund’s Board and Executive Management. The Fund’s newly appointed CEO Aisake Taito said the CM unit serves as the engine room in charge of steering necessary changes and training within the Fund.

Some objectives of the CM unit include: enforce the Fund’s vision, mission and values; encourage broad organizational and employee change (doing away with status quo); understand the process of change; mold staff professional attitude; instill a customer service culture and mentality; promote the sense of urgency in meeting members’ needs; enhance ethical leadership; and identify productivity barriers and brainstorm ways to remove them.

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IFCI Ltd. forays into factoring business

IFCI’s recent acquisition of 46.65%, increasing its stake to 96.49%, of the Mohan Exports Group in Foremost Factors, Ltd (FFL), the first private sector factoring in India to offer both domestic and export factoring facilities, commenced its venturing into factoring services.

With this turnaround in its operations, IFCI now satisfies the applicable regulatory norms and has recently restarted its lending operations. At present, IFCI does not have a banking license. By foraying into the factoring services through FFL, IFCI will be able to extend receivable financing in a big way to its clients by utilizing its national presence through its various Regional & Branch offices.

IFCI Ltd., formerly known as the Industrial Finance Corporation of India Ltd., the first Development Finance Institution of the country, was set up in 1948 to provide impetus to industrial development through medium and long-term finance. It played a pioneering role in the economic development of India, when capital markets were relatively underdeveloped and incapable of meeting the long-term requirements of the economy adequately.

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EXIM Thailand highlights development banking role

Exim Thailand announces its stance and readiness to take up a public specialized financial institution's (SFI) role with a complete services list to support Thai businesses deemed beneficial to national development amid the world’s financial crisis. Its announcement was made during a press conference on the “Global Financial Crisis and EXIM Thailand’s New Role in National Development” at the EXIM Thailand Head Office on January 29, 2008.

In its new role, EXIM Thailand will adopt a proactive approach in generating business opportunities for its customers, taking equity interest, promoting imports and domestic investments relating to product quality improvement, logistics and energy development, thereby stimulating Thailand’s export and overall economic growth.

As a state-owned SFI with expertise in trade and project financing, EXIM Thailand is ready to transform into a complete provider of financing facilities for national development purpose to Thai businesses both at home and abroad. Its new emphasis includes domestic investment promotion in the areas that particularly enhance Thailand’s global competitiveness such as logistics and energy sectors.

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PhilEXIM gets credit facility from European Bank

PhilEXIM has secured a 100 million euro-export credit financing facility from Fortis Bank N.V./S.A., a line of credit available to Philippine companies that intend to buy commodities, equipment or services from European countries. These include electric power generators, wind turbines, rail transport equipment, radar system, seaport terminal equipment, hotel equipment, telecom parts, mining exploration and processing machines, water utility and distribution equipment.

Fortis Bank is an international provider of banking and insurance services to personal, business and institutional customers, ranking among Europe's top 20 financial institutions.

Eligible projects are those that support projects of wider strategic significance for the Philippines. The priority sectors are infrastructure, tourism, information and communication technology, power and energy, agricultural modernization and mining.

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ECO-Frontier pursues sustainable finance

Eco-Frontier is the Korean focal point of UNEP/Finance Initiative and ASrIA. As such, it provides consultation on sustainable investing to banks, institutional investors, securities companies and asset managers in Korea. Also, in collaboration with Climate Change Capital in Britain, one of the world's largest carbon fund managers, Eco-Frontier invests in CDM projects at their initial stage and purchase CERs issued from the projects.

Eco-Frontier provides optimized finance strategy to financial institutions for sustainable banking, investing and project financing.

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EFIC, CPA Australia join forces to assist SME exporters

Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, and CPA Australia signed a Memorandum of Understanding (MOU) to assist Australian small and medium enterprises (SMEs).

The MOU provides a framework for EFIC and CPA Australia to expand their support network to Australian SMEs by leveraging each other’s significant expertise and resources. Activities under the MOU could include joint events targeted at SMEs, sharing of SME-related information and resources, and joint promotions such as seminars and briefings.

“Close to 50,000 of our members are advising and/or working in small and medium-sized businesses,” said Alex Malley, president of CPA Australia. “Our relationship with EFIC will enable our members to further assist Australian businesses planning to export globally”. “We envisage that the activities we undertake under this MOU will build awareness of EFIC among CPA Australia members and our role in promoting export and overseas investment,” said Stuart Neilson, EFIC’s chief financial officer.

In 2006, EFIC launched EFIC Headway, a product designed to help eligible SME exporters access additional working capital finance from their participating bank to boost their export growth. EFIC is exploring new products aimed at extending its services to a greater number of SME exporters.

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BDC creates new aboriginal fund

The Business Development Bank of Canada (BDC) announced a partnership agreement with the Nuu-chah-nulth Economic Development Corporation (NEDC) to create a new Aboriginal Business Development Fund (ABDF) to benefit entrepreneurs in the Nuu-chah-nulth trading area. BDC will invest $250,000 in capital for the micro credit loan fund and qualified entrepreneurs will be able to obtain business loans of up to $20,000.

The Nuu-chah-nulth Economic Development Corporation will identify entrepreneurs who are potential loan candidates. Through the corporation's established Youth Entrepreneurship program, candidates will be offered appropriate business training including mentoring and education on such topics as human resources management, financial planning, marketing and problem resolution. The emphasis will be placed on the candidate's management capacity, business feasibility, and commitment as opposed to equity and security.

Aboriginal communities show higher rates of new business and self-employment than the Canadian average, with more than 30,000 Aboriginal people currently running their own businesses. Increased activity means greater need for a variety of consulting and financial services.

BDC is a financial institution wholly owned by the Government of Canada. BDC actively supports the development and growth of Canadian small and medium-sized businesses through its complementary financing, investment, and consulting services.

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CDB to provide student loans

The China Development Bank (CDB) Fujian Branch signed with the Education Department of Fujian Province, the Framework Agreement on Financial Cooperation on January 4, 2008 in Fuzhou, mutually confirming the first batch of six cooperative higher learning institutions, namely, Fuzhou University, Fujian Normal University, Fujian University of Medicine, Fujian University of Traditional Chinese Medicine, Fujian University of Technology and Jiangxia College (under establishment).

Both institutions will intensify their support to higher education and provide pilot national student loans for qualified higher learning institutions under the jurisdiction of Fujian Province.

The Education Department of Fujian Province also released on January 4, 2008 , the 10 newly-selected construction projects of internship and training bases for higher vocational education, namely, biological technology application (horticulture) of Fujian Vocational and Technical College of Agriculture, modern logistics of Fujian Vocational and Technical College of Foreign Economy and Trade, modern textile technology of Sanming Vocational and Technical College, digital control and mold designing technology of Fujian Vocational and Technical College of Information, electric engineering and electric automation of Fujian Vocational and Technical College of Water Conservancy and Electric Power, nursing of Fujian Vocational and Technical College of Medicine, movie, television and animation of Fuzhou Vocational and Technical College, oral cavity skills of Amoy College of Medicine, biological pharmaceutical technology of Zhangzhou Vocational and Technical College of Medicine and import and export business of Fujian College of Commerce.

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KDB tops the 2008 integrity survey

Korea Development Bank (KDB) topped the 2008 Integrity Survey by Korea Independent Commission Against Corruption scoring 9.68 out of 10. The survey is a measurement of integrity the citizens experienced through the public services provided by the companies. Jointly conducted by Gallup Korea and Korea Research and commissioned by the Commission, the survey is well known for its exceptional accuracy and reliability.

KDB’s score went up 0.34 points from a year ago. The Bank’s commitment to integrity was highlighted as none of the respondents received any preferential treatment of gifts from the Bank. KDB was ranked highest among financial institutions in the same survey conducted in 2006 and 2005. The evaluation in KDB was based on transactions with the Bank in the areas of lending, investment, guarantee, and global banking.

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SME Bank Malaysia to be a separate entity

Small and Medium Enterprise Bank Bhd (SME Bank) will be upgraded and made a separate entity from its parent company, Bank Pembangunan Group, beginning this April.

Second Finance Minister of Malaysia Tan Sri Nor Mohamed Yakcop said the decision was in line with the government's plan to provide a better support to the small and medium-sized enterprises (SMEs). He said with the move, the government expected SME Bank to be more efficient. He added that SME Bank would continue with its core business of providing financing to SME players while Bank Pembangunan would focus on bigger and long-term financing services.

The SME Bank was formed three years ago following the merger between Malaysian Development and Infrastructure Bhd and the Malaysian Industrial and Technological Bank Bhd. Up to November last year, the SME Bank had approved financing for 1,539 projects nationwide worth RM2.9 billion.

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MIDF reaches out to underprivileged children

Fifty underprivileged children from poor families were overjoyed to receive various school kits and cash from caring corporate citizen Malaysian Industrial Development Finance Berhad (MIDF).

The children, from two schools namely Sekolah Kebangsaan Sri Setia Jaya and Sekolah Kebangsaan Mawai received a bicycle, school uniforms, shoes, school bags, stationeries and other basic school items, worth more than RM 600.00 each.

Encik Mohd. Najib, Group Chief Executive/Director of MIDF, said that this is one of the many CSR programmes undertaken by the Company for the year and is similar to all previous MIDF’s CSR efforts. MIDF adopted education as the platform for its CSR initiatives in view of its paramount importance to the country’s development and progress. This is also in support of the Government’s effort to develop better quality human capital.

Committed to its CSR programme, MIDF has held similar activities throughout year 2007. Last year, MIDF had contributed school kits and other necessities to poor and needy school children from schools around Kuala Kangsar and Kuantan as part of its CSR tour. Earlier in January 2008, MIDF had established a study corner at a City Hall flat in Kuala Lumpur. MIDF had refurbished and furnished an existing flat unit to turn it into a conducive study corner for children as well as for the usage of the surrounding community.

MIDF is looking forward to execute more comprehensive CSR programmes throughout year 2008, incorporating and emphasizing on the importance of education in all of its CSR efforts.

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TDBM president receives “Silk Road Award”

Mr. Randolph Stanley Koppa, President of Trade and Development Bank of Mongolia (TDBM), was honored by the Mongolian National Chamber of Commerce and Industry (MNCCI) with its 2007 Silk Road Award for his contribution to sustainable growth in the local financial sector.

The Chamber has been organizing the Silk Road Award event since last year to provide support and recognition to businesses making a meaningful contribution to sustainable growth in the local economy.

Mr. Koppa has been with TDBM since October 2004. He is an international banker who has worked in 12 countries over his 40-years career. For the past 15 years, he had been with ING Bank provided technical and managerial assistance to TDBM.

TDBM has become the first Mongolian bank with total assets increasing to MNT 500 000.0 million. Furthermore, a credit rating of B2 from Moody’s, one of the world leading agencies, improved recognizability of TDBM in international markets. This allowed TDBM to successfully complete the first ever public placement of debt by a Mongolian company in the international capital markets with a USD 75 million senior unsecured bond issue within a USD 150 million Euro medium Term Notes (EMTN) Program arranged by ING Bank.

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ZTBL organizes Zonal Chief Conference

Zarai Taraqiati Bank Limited held its two- day 4th Zonal Chief Conference at its headquarters in Islamabad Pakistan on January 28-29, 2008. During the event, ZTBL stated that it must focus on expanded outreach to disburse minimum target of Rs. 65 Billion as farm credit this year. Recovery of SAM loans of Rs. 10 Billion and deposit base of Rs. 6 Billion will be this year's target.

While unveiling the bank's future business strategy, the Bank President, Mr. Mansur Khan, stressed upon the field functionaries to identify new borrowers and initiate innovative products which are commercially viable for the Bank's financial stability.

The Zonal Chiefs Conference reviewed the performance of the zones in respect of operations, i.e. disbursement and recovery of past dues and deposit mobilization. The participants of the conference identified potential areas of investment to regain lost market share. The participants also divulged upon vitality of various schemes and development of new schemes and income generation activity which could help in increasing agriculture sector's contribution towards GNP.

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NDB launches fisheries credit scheme

The National Development Bank of Papua New Guinea (NDB) and the country's National Fisheries Authority (NFA) have inked an agreement to fund and provide loans to interested people willing to venture into the fishing business.

In line with the agreement, NDB has already funded projects in Morobe Province and is already looking at expanding it to other provinces as well. The NDB, having realized the potential in the Central Province, has finalized agreement between the Central Provincial Government and the Gabagaba Fishermen Association to provide loan assistance to the fishermen of Gabagaba Village. The loans are to assist fishermen purchase fishing gear and equipment to improve their catch output and also improve in quality control, which in turn will increase revenue.

Under this agreement the Central Provincial Government has allocated counter funding of K100, 000.00 which will be held by the Bank as security. NDB will then provide loans to the people of Central Province to assist start up new fishing business or improve and expand on their existing business.

The success of the Gabagaba Fisheries Project will pave a way for the Bank to extend these services to other districts of the Central Province and to other provinces as well.

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NDB launches fisheries credit scheme

Plantersbank to boost farm incomes in the countryside

Plantersbank has increased support for small and medium-scale agribusinesses in a move to help boost productivity and incomes in the Philippine countryside.

As small and medium-scale entrepreneurs integrate with the supply chains of leading food processing giants like San Miguel Purefoods Corporation (SMPFC), Plantersbank seeks to fill the gap in financing requirements of these specialized SMEs.

Recently, SMPFC and San Miguel Foods, Inc. (SMFI) tapped Plantersbank to provide financing for business expansion, facilities improvement and purchase of equipment by contract growers and distributors of the SMFI group which includes BMEG, SMFI-Agri and SMFI-Poultry.

Mr. Tito Tirones, Plantersbank senior vice president and head of the SME Banking Group said similar arrangements will enable Plantersbank to contribute to improving efficiency in the contract growing and food marketing sector to the benefit of consumers.

In southern Philippines, Plantersbank is helping banana growers sustain global competitiveness by financing the rehabilitation of plantations, expansion of facilities and acquisition of modern equipment.

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NBU gets stable rating

Moody`s Investors Service said it assigned National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) a bank financial strength rating (BFSR) of `E+`, long and short-term local currency deposit ratings of `Ba3/Not Prime` and long-term and short-term foreign currency deposit ratings of `B3/Not Prime` with a stable outlook.

Moody`s said NBU`s ratings reflect the bank`s strong franchise value within the context of Uzbekistan, where the bank has a dominant share in terms of assets, capital and loans, as well as the bank`s utmost importance for the Uzbek economy given its major role in attracting and conducting foreign investments to the country and servicing foreign trade operations.

However, NBU`s ratings are constrained by its current low profitability and cost-efficiency, the low diversification of its funding base and a degree of uncertainty relating to the bank`s asset quality, as well as its corporate governance and risk management practices, which are currently in the process of development.

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AMZ to launch mobile payment system in Sri Lanka

AMZ Ventures Limited is presently negotiating joint venture with an established group in Sri Lanka to launch a mobile payment system in Sri Lanka, followed by other countries. This system will enable consumers to directly access their bank accounts for payments to third parties via their mobile phones. AMZ is hopeful that the product launch will take place by first quarter of this year. This is an exciting development as the core technology platform for SMS banking product has been developed by a subsidiary of AMZ—AAPL, formerly Go Internet & Software Services (Pvt), Ltd. This business model will enable a company to unlock the inherent value of the SMS banking software.

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Asaka Bank attracts credit lines for 200m euros

Asaka Bank, the second largest Uzbek bank, attracted credit lines of international financial institutions for 200 million euros.

The bank financed 52 investment projects, which allowed to create 4,900 new jobs. The projects also allowed to launch export-oriented and import-replacing production.

Recently, the Uzbek bank attracted credit line for US$8 million from Islamic Development Bank.

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BIM’s quality management system certificate extended

Following the surveillance ISO9001:2000 audit process, the quality management system’s certificate of Bank of Industry and Mine (BIM) has been extended by the SGS certification body for one more year.

BIM is the first Iranian state bank that has implemented ISO 9001:2000 quality management system for granting financial facilities, credits and banking services as a development bank through all the process running at the Bank’s head quarters and all its branches.

SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 48,000 employees, SGS operates a network of over 1,000 offices and laboratories around the world.

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CDA promotes Qualifying Certificate (QC) program

CNMI Public Law 12-31, as amended, established the Qualifying Certificate Program to promote continued economic development in the CNMI. A “Qualifying Certificate” is a contract valid for a given period of time, approved and granted by the Governor upon recommendation of the CDA Board, between the Government of the Northern Mariana Islands, and the Beneficiary. In return for investment in the CNMI, the beneficiary qualifies for certain tax rebates or tax abatements or both.

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CGC and D&B to establish SME Credit Bureau

The Credit Guarantee Corporation Malaysia Berhad (CGC) and Dun & Bradstreet (D&B) Malaysia Sdn Bhd have entered into a strategic alliance to establish a SME Credit Bureau.

The SME Credit Bureau is a central databank of credit information on Small and Medium Enterprises (SMEs) and will act as a key source of information on registration details, credit track records, debt level and obligations, financial statements and trade partners of SMEs.

Banks and other financial institutions will be able to avail themselves to a comprehensive range of information on the SMEs in the country from the central database of the Bureau. Convenient, timely and efficient access to SME information and credit ratings is expected to assist the lending institutions to make more objective and speedier evaluation of loan applications from SMEs.

Both CGC and D&B are confident that the establishment of the Bureau will further promote the development of a sound credit culture among financial institutions and SMEs.

The Bureau would also encourage non-financial entities, including the SMEs themselves to share information through the Bureau. In this regard, the members of the business community could use the Bureau to decide with confidence when evaluating existing and prospective trade credit or other business deals.

To increase membership, both CGC and D&B will work closely with financial institutions and SME-related trade associations to ensure that SMEs are convinced of the bureau’s role in helping them to improve their access to finance. In addition, SMEs will also be made aware of the benefits of joining the Bureau and encouraged to be transparent in reporting their financials.

The Bureau is poised to be an integral component of the developing credit information infrastructure in Malaysia. Its establishment is expected to contribute significantly towards assisting or enabling SMEs to gain access to the financial markets.

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DFCC administers RERED project

The DFCC Bank has been appointed as the Project Administrative Unit for the Renewable Energy for Rural Economic Development (RERED), a project of the Government of Sri Lanka, assisted by International Development Association of the World Bank and Global Environment Facility.

The project aims to expand the commercial provision and utilization of renewable energy resources and improve the quality of life in rural areas of Sri Lanka. It also follows the successful Sri Lanka Energy Services Delivery Project which was completed in 200.

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DBAS administers revolving loan fund

The Development Bank of American Samoa (DBAS) is administering the Economic Development Revolving Loan Fund (EDRLF) program through funding appropriation for from the Economic Development Agency of the United States Department of Commerce. The EDRLF program provides loan funding to private sector businesses engaged in job creation, export development, import substitution, and entrepreneurial development.

Maximum loan amount is US100,000 with interest rate of 9.00% to 11.00% per annum. The term is up to 15 years and this program is open to all local private businesses.

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EXIM Thailand to provide equity capital to companies with listing potential

EXIM Thailand announces its readiness to make equity investment as long-term business partner in high-growth customer companies with an aim to encourage their eventual listing on the stock markets. This initiative will benefit EXIM Thailand customers’ fund-raising efforts which will in turn open up their new trade and investment opportunities in the international arena.

Dr. Narongchai Akrasanee, Chairman of the Board of Directors, EXIM Bank Thailand, Mr. Pakorn Malakul na Ayudhya, Chairman of the Stock Exchange of Thailand, and Dr. Apichai Boontherawara, EXIM Thailand President, recently participated in the panel discussion titled “Capital Market and Business Potential Enhancement” organized by EXIM Thailand to suggest ways to fuel the growth of customer’s businesses through supporting them in their listing on the stock markets (both the Stock Exchange of Thailand and the Market for Alternative Investment).

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FCIB helps in the development of capital market in Pakistan

First Credit and Investment Bank Limited (FCIB) is engaged in the development of capital market in Pakistan. Its major activities include development of secondary market of the securities. It has been mainly concentrating on fixed income securities as well as trading in equity stock. It has been continuously engaged in planning and development of innovative products and services as financial and technical assistance, presently its major operational activities are in the following fields: (i) Trading, discounting and market making of securities; (ii) Advisory services for raising resources from the capital market; (iii)Underwriting public issues of Term Finance Certificates and other negotiable term obligation; (iv) Brokerage, advisory, consultancy and arranging services for issues of shares, TFCs and other debt instruments; (v) Issuing guarantees and counter guarantees; (vi)Working as trustee / security agent; (vii) Brokerage services for money market transactions; (viii)Aiding and facilitating securitization; (ix) Assisting companies requiring cash management system; and (x) Arranging consortium for raising long term and short term funds for industries and business.

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Fiji Development Bank ratings outlook improves, ratings affirmed

Standard & Poor's Ratings Services recently lifted the outlook on the Fiji Development Bank (FDB) to stable from negative. At the same time, Standard & Poor’s affirmed its ‘B’ long-term foreign currency and ‘B+’ long-term local currency credit ratings on FDB. The ‘B’ short-term ratings on FDB were also affirmed.

These changes follow Standard & Poor’s affirmation of the ratings and return to a stable outlook on FDB’s owner, the Republic of Fiji Islands (Fiji). The ratings on FDB reflect its status as Fiji’s official development bank and the bank’s close relationship with and partial guaranteed support from the government of Fiji.

Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), is the world’s foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research, and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years, providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.au.

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HBFC Limited introduces new “Customer Care Call Centre”

The House Building Finance Corporation Limited introduced its new “Customer Care Call Centre”. Syed Safwanullah, MNA and Ex-Federal Minister for Housing inaugurated the HBFC Limited Customer Care Call Centre at the HBFC Ltd Head Office, Karachi.

The main purpose of establishing a Customer Care Call Centre is to provide prompt and updated information to valuable customers of the Corporation and the general public as well. This Customer Care Call Centre will perform as an information providing centre to facilitate the existing and intending customers of HBFC Limited and will provide detailed information to common citizens about Corporation’s products, investment policies and procedure.

The formation of HBFC Limited Customer Care Call Centre is bifurcated into two sections. One Section will facilitate the existing customers regarding their accounts status, through the centralized HBFC Customer Data Base. The other Section has a provision of providing information regarding availing the financing facility through different products. This Section also has a complete system of recording complaints and prompts follow up of replies.

HBFC Limited has a large network of 80 offices spanning across the country, managed through 12 zones with headquarters at Karachi. Under its expansion of Outreach Program, HBFCL’s presence would expand to more than 100 cities by end of year 2007. Unlike other financial institutions engaged in housing finance, the bulk of the loan disbursements of HBFC Ltd are to low and middle income groups, and for construction of house, as against outright purchase and renovation. Under its new mission, the HBFCL aims to be the housing bank for Small & Medium Housing (SMH) finance, focusing on low & middle income groups of population.

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NHB initiates new housing initiatives to protect and educate consumers

As the apex financial institution for housing in the country, National Housing Bank has embarked on action relating to consumer issues in housing finance. A number of new initiatives to promote consumer protection and education have been initiated. NHB has issued Guidelines on Fair Practices Code for housing finance companies. These Guidelines lay down minimum standards required to be observed while dealing with customers. Similarly, Investment Grade Credit Rating has been made compulsory for all housing finance companies accepting public deposits. NHB is developing a portal on housing and housing finance initially in English and Hindi, and later in other regional languages to provide access to consumers for credible wide ranging information.

National Housing Bank seeks to launch following twin new initiatives with a view to further the cause of customer protection and education in the housing finance field;

i. Promote a common Forum of banks and housing finance companies engaged in the field of housing finance, which can in due course develop into a Self Regulatory Organisation (SRO).

ii. Introduce a system of Certified Independent Mortgage Counsellors who will provide fair and objective information on the implications of raising housing loan, various requirements for availing housing loan and terms & special features of various housing loan schemes available from the banks and housing finance companies. Members of public, if they so desire, will be able to avail such guidance from the proposed Mortgage Counsellors on payment of reasonable charges

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Seylan Bank rewards whiz kid and family

Demonstrating its commitment to help the younger generation and as a “Bank with a Heart”, Seylan Bank has rewarded a brilliant student who got a perfect score of 200 marks out of a maximum 200 at the Grade 5 Scholarship examination. The boy is also a “Tikiri” Account holder of the Bank.

In recognition of his achievement, Chagi Barusu Weerakon and his family has been awarded with a package tour in Singapore. The duration of the tour would be 5 nights and 6 days and this would cover education cum entertainment such as visit to the Discovery Center and Science Center, Jurong Bird Park, Sight Safari and Sentosa Morning Tour, including 4d Magix and the Sentosa Glitter tour.

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ODB launches new website

The Oman Development Bank launched its brand new and freshly revamped website www.odboman.net inspired by the bank entering a new era of customer orientation and high quality services.

ODB Chairman, H. E. Yahha Al Jabri said the new website was aimed at keeping pace with the information age and stressed on the importance of digital economy and online services. He added that the new website would help in providing more comprehensive information on the bank and its products and services to its customer, prospects and stakeholders.

With the new website, the Bank’s customers and clients now have the facility to download loan application forms, survey forms, calculate loan amounts, provide online feedbacks, and testimonials.

Another important feature of the website would be highlighting the success stories of the ODB customers.

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Vnesheconombank and Korea Development Bank enter into agreement

The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and The Korea Development Bank entered into Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Korea Development Bank Governor Chang –Lok Kim.

The Agreement aims to establish partner relations in trade and project financing, syndicated loans and in sharing and exchanging experience in various fields associated with financial institutions’ business.

Under the Agreement the two sides are determined to promote joint mutually beneficial cooperation aimed at generating profits.

KDB was established in 1954 and is the State Development Bank of the Republic of Korea. The Bank occupies fourth place in the country and 101st place in the world by the amount of assets.

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Shri M D Mallya receives ‘PUNE 2007 Super Achiever Award

Shri M D Mallya, Chairman & Managing Director, Bank of Maharashtra, received ‘Pune 2007 Super Achievers Award’ as a recognition for his efforts in improving the overall performance of the Bank. The entire event was sponsored & organised by the Institute of Business Management & Research (IBMR) under the aegis of Audyogik Shikshan Mandal, Chinchwad, Pune and Vision India respectively..

The other recipients of Pune-2007 Super Achievers Award are Shri. Madhur Bajaj, Vice Chairman, Bajaj Auto Limited; Ms. Sulakshana Patankar, COO, WNS, Global Services and Ms. Priti Rao, Senior Vice President and location head, Infosys Technologies, Pune.

In his address Shri M D Mallya dedicated ‘Pune 2007 Super Achievers Award to the entire team of 14000 employees of Bank of Maharashtra. He reiterated the importance of Team Work and mentioned success as the fruit of Team Work. Shri. Mallya said that Indian economy is booming & over all growth of economic development will result to the growth of the nation.

“The world of Banking is very dynamic and competitive and seeks continuous support from customers” said Mr. Mallya. He thanked the customers for their continuous support and mentioned that Bank of Maharashtra is celebrating the year 2007-08 as a ‘Customer Service Year’ and is committed to rendering quality service to the customers.

The Bank strives to become a “Customer Centric, Innovative, Technology Savvy, Modern Bank with strong fundamentals and is aligning itself with global standards of performance”.

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2009 DEV'T BANK NEWS

2008 DEV'T BANK NEWS

DBP bags best CSR projects award among development banks

JBIC helps recapitalize banks in developing countries

Exim Thailand expands development banking activities

Philexim nets PhP115.5 M in 2008

SME Bank Thailand helps small businesses, laid-off workers

Seylan Bank offers online facility for tuition fees

Vnesheconombank, KECIC strengthen cooperation

RSB--introduces new financial solution

QCBD adheres to good corporate governance

PPSB chairs 11th Postal Savings Bank Forum

LWUA provides funds to non-operational water districts

NIB launches Salaam banking in Pakistan

Pak Brunei runs novel Speakers Series

HBFC maintains ISO Certification

TDB bags “Best Spread Bank” award

SME Bank Malaysia reduces prime rate

KDB issues USD2 billion overseas bond

JBIC responds to global crisis with new facilities

FNPF ably secures investment portfolio

Landbank net income hits record PhP 5.02B

IFCI is nodal agency for India’s Sugar Fund

SIDBI takes lead on SME promotion in India

DBJ establishes EMTN Programme

EDB finances Superjet project

Pak-Oman gets high governance rating

DBP, JBIC sign loan agreement for environmental development

DBP prepays foreign loans

BDC bares good results for 2008

CDB finances water pollution abatement

BCI enhances CSR initiatives

FDB promotes culture of savings

Exim-Bank-India-inks-credit-lines-with-Myanmar-Bank

IDBI supports Indian farmers with debt waiver/relief schemes

BIM gets stable rating

JBIC restructures international operations set-up

DBK gets credit facility from China

KDB partners with China's CICC

Landbank posts 10% income growth

TDB opens new nostro account with Swedish Bank

NDB supports students Games

Vnesheconombank assists in export diversification

LDB raises loan portfolio

Exim Thailand launches trade & investment portal

TDB assists youth business initiatives

NDBP Adopts New Financial Analysis Software

CESMED forms new company in the U. S.

DBAS administers HOME program

BEDB briefs Kuwaiti business delegates

NDBP Hosts Energy Workshop

DBP takes over Al-Amanah Islamic Bank

KDB to be privatized

Bank Pertanian is now Agro Bank

HBFC made record disbursement of over rs.3.5 billion in 2007

EDB gives credit line to develop SMEs

EFIC survey shows Australian companies fund overseas expansion

IPDC of Bangladesh launches auto loan program

LBP sets 10 billion more for agri-infra

CDB initiates another donation campaign for quake victims

FNPF implements change management

IFCI Ltd. forays into factoring business

EXIM Thailand highlights development banking role

PhilEXIM gets credit facility from European Bank

ECO-Frontier pursues sustainable finance

EFIC, CPA Australia join forces to assist SME exporters

BDC creates new aboriginal fund

BDC creates new aboriginal fund

CDB to provide student loans

KDB tops the 2008 integrity survey

SME Bank Malaysia to be a separate entity

MIDF reaches out to underprivileged children

TDBM president receives “Silk Road Award”

ZTBL organizes Zonal Chief Conference

NDB launches fisheries credit scheme

NDB launches fisheries credit scheme

Plantersbank to boost farm incomes in the countryside

NBU gets stable rating

AMZ to launch mobile payment system in Sri Lanka

Asaka Bank attracts credit lines for 200m euros