ADFIAP, WWF, Myanmar banks meet to step-up green finance initiatives

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ADFIAP, represented by its consulting group led by Ms. Corazon D. Conde and Atty. Alberto B. Reyno, met with representatives from World Wide Fund for Nature (WWF) and Spakassenstiftung fur internationale Kooperation represented by Ms. Silvia Sartori, Project Manager, and Mr. Ilan Wolkov, Consultant of the recently launched SWITCH Asia project on cleaner production for the food and beverage industry in Myanmar. The purpose of the meeting is to explore complementation and partnership between the two SWITCH Asia projects, particularly on capacity-building, sharing of equipment commonly used by both projects, and sharing of energy efficiency technical staff, among others.

Meetings were also held with officials of the Myanmar Banks Association (MBA), A bank, Co-operative Bank, Myanmar Citizens Bank and AYA Bank to gauge their interest in financing green projects that were given grants by the Danish Development Assistance to Myanmar under the Responsible Business Fund (RBF). Concrete steps on how to engage these banks in supporting green finance and the needed interventions moving forward were also discussed. The team also visited Glory Natural Juice Production, a case of blended finance wherein RBF gave a grant for the company’s acquisition of a new auto-filling and packaging system while A bank granted a loan for factory construction to house the new equipment.

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ADFIAP is a project partner of the EU-funded Switch Asia project, “SMEs for Accountability, Responsibility and Transparency (SMART) Myanmar 2.0”, whose role is to enable SMEs to access to financing for their green investments. The 4-year EU-funded project is aimed at improving production and increase consumption of sustainably produced garments from Myanmar through up-scaling and improving on best practice mechanisms developed and implemented during SMART Myanmar 1.0. For more information on the SMART Myanmar project, please click: http://www.smartmyanmar.org.

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