Finance & Relations Committee to revive the ADFIAP Fund

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The Finance & Relations Committee of the Board headed by Mr. Nihal Fonseka, General Manager & CEO of DFCC Bank Sri Lanka, is studying the possibility of relaunching the ADFIAP Fund, this time to provide for a regional refinancing facility for small and medium enterprises (SMEs), with the participation of interested ADFIAP members and perhaps, Germany’s KfW Development Bank.

Prior to the Asian financial crisis of 1997, ADFIAP members in five countries were on the verge of setting up a USD 100 million regional venture capital fund to assist SMEs in member-banks’ countries. The proposed Fund was eventually deferred due to the crisis. Now, the Board is discussing the possibility of reviving the Fund albeit in a new form as it believes that the current timing and business environment may be right.

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