Muscat, Oman – April 24, 2025 – The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) proudly announced the addition of two new members during its 48th Annual Meetings held from April 23-25, 2025, in Muscat, Oman: Network Consolidated Cooperative Bank (NCCB) from the Philippines and Sanoatsodirotbonk (SSB) from Tajikistan. These institutions were formally welcomed into ADFIAP’s prestigious network of development finance institutions (DFIs), marking a significant step in strengthening financial inclusion and sustainable development across the Asia-Pacific region.
Network Consolidated Cooperative Bank (NCCB): Pioneering Cooperative Banking in the Philippines
NCCB, the first and largest consolidation of cooperative banks in the Philippines under the Strengthening Program for Cooperative Banks (SPCB), represents a transformative model for inclusive finance. Formed through the merger of six cooperative banks—Cooperative Bank of Agusan del Sur, Cooperative Bank of Camarines Norte, Capiz Settlers Cooperative Bank, Cooperative Bank of Leyte, Southern Leyte Cooperative Bank, and Sorsogon Provincial Cooperative Bank—NCCB operates with the National Confederation of Cooperatives (NATCCO) as its Strategic Third-Party Investor (STPI).
Registered with the Cooperative Development Authority (CDA) and approved by the Bangko Sentral ng Pilipinas (BSP), NCCB began operations in 2014 with a mission to empower cooperatives and their members through tailored financial services, including deposit-taking, lending, and trade finance. Currently, the bank operates seven branches and two Branch Lite Units, with plans to expand further into rural and underserved areas.
“The formation of NCCB was a strategic move to build a stronger, more resilient cooperative banking sector in the Philippines,” said Mr. Raul Calayan Jr., President and CEO of NCCB. *”By joining ADFIAP, we are now positioned to contribute to and learn from a broader regional dialogue on inclusive finance and sustainable development.”
Sanoatsodirotbonk (SSB): Driving Industrial and Economic Growth in Tajikistan
SSB, a leading financial institution in Tajikistan, specializes in supporting industrial development, agriculture financing, and small and medium enterprises (SMEs). Its membership in ADFIAP opens doors to regional collaborations, knowledge exchange, and innovative financing solutions to further Tajikistan’s economic resilience.
“SSB’s inclusion in ADFIAP underscores its commitment to fostering sustainable growth and aligning with global best practices.” said Mr. Enrique Florencio, ADFIAP Secretary General. “We look forward to their contributions in advancing development finance in Central Asia.”
As an ADFIAP member, SSB aims to:
– Enhance financing programs for SMEs and industrial projects.
– Adopt sustainable banking practices aligned with international standards.
– Leverage partnerships to attract investment and technical expertise.
Looking Ahead
Both NCCB and SSB are poised to play pivotal roles in their respective markets, leveraging ADFIAP’s platform to drive inclusive growth, sustainability, and economic resilience. Their memberships reflect ADFIAP’s commitment to expanding its network of institutions dedicated to meaningful development outcomes.
For media inquiries, please contact:
– ADFIAP Secretariat: [email protected] | [www.adfiap.org]
– NCCB Media Office: [www.nccbank.coop]
– SSB Official Website: [https://ssb.tj/en]