2011, 34th ADFIAP Annual Meeting in Kyrenia, North Cyprus
34th ADFIAP ANNUAL MEETINGS
Acapulco Beach Club & Resort Hotel, Kyrenia, North Cyprus
Message from the Chairman
MR. NIHAL FONSEKA
GENERAL MANAGER AND CEO, DFCC BANK, SRI LANKA
AND CHAIRMAN, ASSOCIATION OF DEVELOPMENT FINANCING INSTITUTIONS IN ASIA AND THE PACIFIC (ADFIAP)
34th ADFIAP Annual Meeting
Acapulco Beach Club & Resort Hotel
Kyrenia, North Cyprus, April 20 to 23, 2011
It is often said that a good time to prepare for bad times is during good times. There is wisdom to this. In business and finance, this is an important element in strategic planning and risk management that enterprises must undertake to grow their business, develop the market, stay ahead of competition, and optimize shareholders’ value. At the macro level, the challenge for governments is always to stimulate sustainable development through the reduction of unemployment and poverty, among other indicators.
We realize that all of the economies represented in ADFIAP’s geographical coverage, and for most of the world, just went through bad times. The global economic recession that hit its peak in 2008 and lingered up to the early part of 2010 is behind us now. As empirically established, economic recovery is officially on the way though at various stages.
We can say with confidence that these are good times for our economies. And now is the time to plan ahead. Let us always be mindful that the world economy has become more integrated due to the increase in trade and connectivity through technology, among others. As the recent global financial crisis so clearly, if not painfully demonstrated, an economic crisis in one country can become global in nature and impact rather than being isolated to a particular region in the world.
It is with this perspective that we have chosen for this 34th ADFIAP Annual Meeting the theme, “Addressing Global Issues: The Strategic Role of National Development Finance Institutions”. Being state-owned enterprises, development financial institutions such as our ADFIAP members have proven to be effective policy and program instruments. DFIs have distinctly led and significantly participated in the advancement of their countries’ development agenda.
At this Annual Meeting, we will exchange ideas and share experience on ADFIAP’s advocacies in SME development and green financing. We will also tackle business models such as the Public-Private Partnership. We recognize that while national development financial institutions perform catalytic and strategic role, the private sector remains the primary engine of growth and development.
Last but not least, we will certainly have an enjoyable experience in the beautiful and fascinating Kyrenia in North Cyprus.
Message from the host financial institution
MR. AHMET ATANER
THE GENERAL MANAGER AND CEO OF TRNC DEVELOPMENT BANK:
On behalf of the Turkish Republic of Northern Cyprus Development Bank, I would like to welcome you to Kyrenia- North Cyprus.
The Turkish Republic of Northern Cyprus Development Bank was established on July 3rd, 1992 and has been making a contribution to investors and economy for the last fifteen years. The Bank began its operations with fifteen employees, has grown in size over the years and has reached a total of fifty one employees. Our Mission is to contribute to the development of our country by providing low interest, long-term financing to investment projects, guiding investments towards our country needs, promoting employment and helping scarce resources to be transformed into feasible and environment-friendly investments, and to operate with democratic and active contribution of employees towards meeting investors’ needs and expectations. Our Vision is to improve the current modern structure of the bank in accordance with the international standards, to accelerate the flow of work and improve the quality of services.
We are proud to host the 34th Annual Meetings of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). The Association which has been in existence for three decades, has made a significant contribution by assisting its member Development Finance Institutions (DFIs) in their efforts to promote economic development and enhancement of the quality of life in their respective countries. I am happy to note that the ADFIAP has grown over the years and today counts over 117 members from 42 countries.
The presence and action of development banks, as public policy instruments in growth and development financing, became greatly relevant in its countercyclical function, without losing sight of a long term view and a permanent income distribution policy. In the short term, it tried to help countries to overcome the financial crisis, by making larger resources available to the social and productive sectors. Long-term programs for enterprise development and finance, particularly for small and medium enterprises (SMEs) as well as for clean and green technology development are two of the most important subjects about strategic opportunities for economic growth into the future.
Kyrenia, North Cyprus
at the Acapulco Beach Club & Resort Hotel
April 20-23, 2011
Addressing Global Issues: The Strategic Role of National Development Finance Institutions
TRNC Development Bank is pleased to host ADFIAP’s 34th annual meeting under the theme “Addressing Global Issues: The Strategic Role of National Development Finance Institutions”. The role of development financial institutions is crucial in many areas such as SME finance, green finance and trade finance. As strategic partners for national development, DFIs must utilize their institutional resources correctly and work with the private sector in financing strategic economic sectors.
TRNC Development Bank at a Glance:
Vision
Developing the current modern structure of the bank in accordance with the international standards, accelerating the flow of work, improving the quality of services and becoming a leading institution with high reputation for development and sustainable growth.
Mission
Providing low interest, long-term financing to investment projects, guiding investments towards country needs, promoting employment and helping scarce resources to be transformed into feasible and environment-friendly investments and to operate with democratic and active contribution of employees towards meeting investors’ needs and expectations.
History and current situation
The TRNC Development Bank is a governmental bank and was established on July 3r 1992. The Bank’s mission defined by the specific law 45/92 is contributing to economy for sustainable development. TRNC Development Bank provides loans, consulting and education to investors.
Ministry of Economics and Energy represents the government as a share holder. TRNC Development Bank’s ownership structure is 98.50 % state/government., 0.01% Domestic commercial Banks and 1,48% is the investors credited by the Bank. The Bank does not take deposits from the public, receives direct budget from the government. The Bank’s dept is under the guarantee of the government.
The business model of the bank is retail lending.
TRNC Development Banks’ activities are supervised by the Exchequer and Audit Department.
Organizational structure
Management Board: The management board is composed of 7 members. 6 of the members are appointed by Council of Ministers for indefinite period. One of the board members is the representative of the shares of the investors credited by TRNC Development Bank. The current Chairman of the Board is Mr. Ömer A. Köseoğlu.
Inspection Board: Inspection board is composed of 2 members. They are nominated and elected by the General Assembly.
Bank Management and human resources: TRNC Development Bank CEO appoints by the Management Board. TRNC Development Bank CEO is Mr. Ahmet Ataner. Management Board have one Deputy General Manager and a Deputy Manager the second.
The Bank has began its operations with fifteen employees, has been expanded to fifty one employees.
Main activities
Loans
Manufacturing
Tourism
Education
Health
Maritime
Social Activity Center
Fish Farm
Greenhouse
Auto Technicians and Electricians
Special Interest Tourism
Chill Store
Water and Sea Products and Fishing
Travel Agencies
Special Projects
Media and Press
Computer Software
Renovation of the existing restaurants
Services
TRNC Development Bank provides entrepreneurship development trainings and consulting to SME’s.
Projects
TRNC Development Bank is currently getting technical assistance from Development Bank of Turkey. According to those initiatives, “the TRNC Development Bank Strategic Plan 2020” has been prepared and put in implementation for 10 years. Strategic Plan 2020 aims to re-structure the management and work flow of the Bank, transmission towards to green office and green finance, re-adapting the rules and procedures in harmony with the international environment management standards.
Participations
ADFIMI General Assembly and seminars
ADFIAP Annual Meetings and CEO Forms
Membership Status
TRNC Development Bank is member of ADFIAP and ADFIMI.
Communication
www.kktckb.org
[email protected]
Tel: 00 90 392 228 8440
Fax: 00 90 392 228 5662
Programme of Activities
Our logo is made up of several elements – the Caretta (sea turtle), the Sun, the Waves and the colours red and white.
The Caretta is the most prominent feature of our logo. It holds significant importance within the Cypriot culture. This is demonstraded by the proportion given to it within the logo. The Caretta symbolizes longevity as it has a long life span. It also displays strength. The Carettas’ strength represents the strength the people have to thrive and prosper. These features are highly valued by the Cypriot people as they represent them. Furthermore, another key feature of the Caretta is its certainty. It displays this feature with each and every step it takes.
The two famous sea turtle species: Chelonia mydas and Caretta Caretta are still regularly visiting the shores of North Cyprus without being disturbed, just as they have been doing so for the last one hundred million years or so. These magnificent creatures swim to the deserted beaches of North Cyprus in every May and August to lay their eggs. This shows us that the environment is well-protected and the people are green lovers.
The sun has three meanings; firstly it represents the weather conditions. Cyprus is known to be an extremely enjoyable holiday island that boasts with myriad charms year round. North Cyprus enjoys a very pleasant climate, with warm, dry summers and mild winters, and an average of 300 days of sunshine. The sea water temperature around or island is ideal for swimming during eight months of each year. Nature usually wakes up around December on the Island and with the arrival of first rains; the barren soil quickly turns green. Warm weather affects people so they are cheerful, friendly and lovely. The sun light also provides positive energy to its people and nature. According to a legend, Julius Caesar gave the island to Cleopatra as a token of his love. Secondly the sun represents the citrus fruits produced in North Cyprus. Finally, the third meaning is that as TRNC Development Bank each day as the Sun rises, we are born; we develop, and reach many places as the sun light does.