ADFIAP speaks at regional forum on inclusive innovation

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On invitation of the Shanghai-based Asia-Pacific Finance and Development Center (AFDC), ADFIAP, represented by its Secretary General, Mr. Octavio B. Peralta, presented the Association’s as well as its members’ work and advocacy in addressing inclusive innovation in their respective countries.

The regional forum, which was held in the Chinese capital city Beijing on May 23-24, 2012, was hosted by AFDC in cooperation with the World Bank and the Ministry of Finance of China and drew around100 delegates from 13 countries who discussed concepts, issues and challenges in inclusive innovation.

While the understanding of inclusive innovation is still evolving, the concept refers to the knowledge, process and product creation, adaptation and deployment efforts aimed at meeting basic human and societal needs that contribute to an all-encompassing and beneficial economic growth, particularly those of the poor in the base of the pyramid.

The issue of inclusive innovation augurs well with the sustainable development mission and mandate of ADFIAP and its member-DFIs which are catalysts for inclusive growth, particularly in the provision of financial and technical assistance to micro, small and medium enterprises (MSMEs).

AFDC www.afdc.org.cn/afdc/index.asp which is a public institution directly under the administration of the Ministry of Finance of China is an initiative by China under the APEC Finance Ministers’ Meeting that aims to strengthen capacity-building in the APEC region through training workshops, forums and academic research.

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