ADFIAP has now 117 members, a new high

With new members Japan Finance Corporation, Micro Business and Individual Unit (JFC-Micro), Andhra Pradesh State Financial Corporation, Mongolian National Chamber of Commerce and Industry and Microfinance Development Association of Mongolia, ADFIAP’s membership total is now 117 institutions in 42 countries and territories.

Japan Finance Corporation, Micro Business and Individual Unit (JFC-Micro) is one of the units of Japan Finance Corporation (JFC), a comprehensive policy-based financial institution wholly-owned by the Japanese government. JFC-Micro was originally established in 1949 as People’s Finance Corporation (PFC). In 1999, PFC was recognized as National Life Finance Corporation (NLFC). In 2008, JFC was established through the merger of four policy-based financial institutions including NLFC. The operation of NLFC was subsequently taken over by JFC-Micro. JFC-Micro has been providing financial support for more than 60 years to Micro and Small Enterprises (MSMEs) and individuals that have difficulties in obtaining fund from private sector. JFC-Micro’s Chief for International Cooperation Office is Mr. Taro Morita.

Andhra Pradesh State Financial Corporation (APSFC), is a state-level development financial institution established in 1956 for promoting small and medium scale industries in the state of Andhra Pradesh under the provisions of the State Financial Corporation (SFC) Act 1951. The corporation finances small and medium scale units in manufacturing and service sectors. APSFC is rated number 1 SFC among all SFCs in India consecutively for the past 8 years in terms of transactions and percentage of recovery. It is an ISO 9001:2008 certified organization. Mr. Vikas Raj, I.A.S., is the Managing Director of APSFC

The Mongolian National Chamber of Commerce and Industry (MNCCI) was founded on July 2, 1960 as the “Chamber of Commerce”. Until 1990, in coordination with socialist system, the activities of the Chamber were geared to promote trade and industry as a quasi-government agency. Transition to market economy gave the private sector promotion opportunity to the Chamber. The strategic goal of the Chamber is to promote and develop competitive private sector of Mongolia making it not only engine of sustainable growth but also the main provider of economic activity. MNCCI is headed by Mr. Sambuu Demberal as Chairman and Chief Executive Officer.

The Microfinance Development Association of Mongolia (MDAM) was recently established and dedicated to the development and promotion of the microfinance sector in Mongolia. It is a “spin-off” organization of the Mongolian National Chamber of Commerce and Industry representing microfinance sector. The Institutional Development Center (IDC), which was part of MDAM, is a centre of professional excellence and the international focal point for ideas formulation and information gathering. Ms. Tsolmon Dariim is the Chairperson of MDAM.

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