Lima, Peru – November 13-14, 2024- The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) played a pivotal role at the Banking Meeting of Latin America and the Caribbean and Asia-Pacific, held in Lima, Peru, as part of the APEC 2024 side events. The conference gathered leaders, policymakers, and experts to explore vital financial strategies to enhance regional resilience and sustainability.
ADFIAP Secretary General addressed Panel 2, focusing on “Technological Innovation to Promote the Formal and Global Economy Transition. He emphasized the transformative power of technology in facilitating access to finance and integrating informal sectors into the formal economy. Harnessing technological advancements is essential for creating inclusive financial systems that empower all segments of society.
In Panel 3, Goverdhan Singh Rawat, Deputy Managing Director of the National Bank for Agriculture and Rural Development (NABARD) in India, discussed “Sustainable Growth for Resilient Economic and Social Development.” He highlighted the importance of financing sustainable infrastructure projects and equitable agricultural practices as fundamental drivers of long-term economic stability and social progress. “Investing in sustainable infrastructure is vital for environmental sustainability and enhancing the quality of life within our communities,” he remarked.
The conference also featured Mr. Dinesh Fernandopulle from SYNAPSIS, Sri Lanka, who spoke via video on Panel 4 about the “Digitalization of Financial Services in Latin America and Asia-Pacific.” His presentation delved into the implementation of digital technologies in the financial sector, showcasing success stories and the challenges faced during this transformative process, such as ADFIAPNET’s ABANX.
In Panel 5, notable speakers Alexei Matsuev, Deputy Chief Legal Officer at VEB.RF, Russia, and Conrad Albrecht, (virtual) Managing Director of the Eurasian Development Bank, discussed “Strategic Alliances for Financing Development and Economic Decarbonization.” They highlighted the importance of collaboration between various stakeholders to create financial solutions that support sustainable development goals and address climate change.
H.E. Dr. Kao Thach, ADFIAP Chairman and CEO of the Agricultural and Rural Development Bank (ARDB) in Cambodia concluded the panel discussions in Panel 6, addressing “Empowerment for Sustainable Development.” He focused on strategies to empower communities, include marginalized sectors, and promote economic growth, emphasizing the need for targeted approaches to uplift underserved populations.
As the APEC 2024 side event wrapped up, participants left with a renewed commitment to leveraging technology and sustainable finance in their regions. The dialogues reinforced the necessity of adaptive financial strategies and the vital role of development financing institutions in leading this transformative journey.
ADFIAP continues to champion initiatives that promote economic resilience and sustainable development, solidifying its position as a critical player in the global financial landscape.