ADFIAP, represented by its Secretary General, Mr. Enrique I. Florencio, attended the Philippine MICE Conference (MICECON) 2023, the biggest gathering of Meetings, Incentives, Conventions, and Exhibitions (MICE) professionals held on March 1-3, 2023 at the SMX Convention Center in SM Lanang, Davao City. Located in the southern part of the Philippines and the center for

ADFIAP, represented by its Secretary General Mr. Enrique Florencio spoke at the 4th CEFIA Government-Private Forum on 16th February 2023 at the Bai Hotel Cebu, Philippines, and shared ADFIAP’s over two decades journey of embracing and embedding the principles of EESG (economic, environmental, social, and governance) together with its member-DFIs and their contribution in accelerating transition finance. At the 4th CEFIA Forum, ASEAN+3 government officials, international organizations, universities, and private companies gathered on-site or online and shared progress on activities and discuss future activities aimed at energy transition towards a decarbonized energy system in the ASEAN region.

Further, Mr. Florencio highlighted ADFIAP’s collaboration with CEFIA which has been very instrumental in enriching the understanding and capacities of its member DFIs in identifying and financing transition projects and broadening their knowledge of financial programs and products through the capacity-building programs.
The 4th CEFIA Forum was hosted by the Department of Energy, Government of the Philippines, in cooperation with the Ministry of Economy, Trade and Industry (METI) of the Government of Japan, with support from the ASEAN Centre for Energy (ACE). The CEFIA Forum was held back-to-back with the 17th ASEAN+3 NRE and EE&C Forum.

The ADFIAP Secretariat, led by Secretary General Mr. Enrique I. Florencio, met with Mr. Nishaman Karunapala, the new Managing Director and CEO of HDFC Bank of Sri Lanka, via Zoom. Mr. Florencio briefed Mr. Karunapala on ADFIAP’s mission, purpose, and advocacies, and invited him and his management team to the upcoming 46th Annual Meetings, which will be held in Almaty, Kazakhstan on May 15-17, 2023. Together with Mr. Florencio is ADFIAP Group Heads Ms. Sandra Honrado (Membership and Training) and Mr. John Alianza (Business Development and Marketing).

Pag-IBIG Fund disbursed P53.76 billion in cash loans, otherwise known as short-term loans, benefitting a record-high 2,612,491 members in 2022, agency officials stated Tuesday (21 March 2023).

For 2022, the amount of short-term loans released by the agency increased by 21% or P9.46 billion compared to the P44.30 billion released in 2021. With this amount, the number of members assisted through the program increased by 24%, or over half a million more than the 2,090,851 members in 2021.

“We at Pag-IBIG Fund exert all efforts in providing our members with assistance on their financial needs. We are happy to note that through our Short-Term Loan Program, we were able to aid more than 2.6 million Filipino workers gain added funds to tend to their needs last year. All our efforts are in line with the call of President Ferdinand Marcos, Jr. to provide the best service to the Filipino people,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund’s Short-Term Loan Program includes the agency’s Multi-Purpose Loan (MPL) and Calamity Loan. Under the Pag-IBIG MPL, qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly contributions, their employer’s contributions, and accumulated dividends earned. Borrowers may choose between a 24 or 36-month payment term and are provided a two-month grace period prior to their first payment. The MPL comes at an interest rate of 10.5 percent per annum. The Pag-IBIG Calamity Loan, on the other hand, is made available to members residing or working in areas declared under a state of calamity.

Of the total amount of cash loans released by the agency, P49.85 billion were in the form of Pag-IBIG MPLs which helped 2,313,143 members, while P3.91 billion were in the form of Calamity Loans which in turn aided 299,348 members.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, cited the reliability and ease of access in availing the Pag-IBIG’s MPL and Calamity Loan as the main drivers for its strong growth.

“We at Pag-IBIG Fund are aware that millions of our members rely on our MPL for their immediate financial needs and our Calamity Loan to help rebuild their lives. That is why we have made these loan programs more accessible and easier to avail for our members. Today, our members can easily and conveniently apply for these loans through many channels, which include their employers, our more than 200 branches and services offices nationwide, or online via the Virtual Pag-IBIG or the Virtual Pag-IBIG Mobile App. What’s more, we also have our Lingkod Pag-IBIG On Wheels which are currently going around the country, ready to receive loan applications from members, particularly those from underserved and calamity-stricken areas,” said Acosta. (END)

The Small Industries Development Bank of India (SIDBI) has expanded its presence in the region of Hosur by launching a new branch office to support micro, small, and medium firms. SIDBI, with cooperation from the Central Bank of India, also established a SIDBI Cluster Development Fund to assist in building infrastructure for MSMEs in clusters.

According to SIDBI chairman and managing director Sivasubramanian Ramann, financial support is supplied to state governments in term loans at concessional rates to fund initiatives involved in the MSME ecosystem following the launch of the new office. He stated that SIDBI took additional steps to increase credit flow to MSMEs and that the bank has just developed an automated straight-through process to approve loans up to Rs 50 lakh online in a couple of hours.

According to a press release, the Hosur branch will continue collaborating with MSMEs, industry groups, and all stakeholders to provide targeted financial assistance to MSMEs in the district and neighboring areas. During the inauguration, micro, small, and medium company clients received permission letters for term loans ranging from Rs 30 lakh to Rs 3 crore to acquire equipment and machinery.

Last year, the China Development Bank (CDB), one of the country’s policy banks, increased its financial support for agriculture. According to the bank, the outstanding agricultural-related loans in 2022 reached 250 billion yuan ($36.26 billion). The loans have provided significant help in ensuring food security, constructing agricultural and rural infrastructure, modernizing agriculture, improving rural living circumstances, and consolidating and expanding poverty reduction achievements.

Based on the announcement, the bank also issued 8 billion yuan in special financial bonds for rural regeneration last year. According to the bank, CDB will continue to provide financial assistance for agricultural and rural infrastructure and encourage rural regeneration in 2023.

The Development Bank of Mongolia (DBM) has been supporting the Mongolian Government’s program on advancing small and medium enterprises (SMEs). The DBM has been providing soft loans for the purpose of enhancing factory capacity of the SMEs which will expand their scope, generate employment, uplift standard of living, and help in the economic development of

Russia’s Vnesheconombank and Renova Group of Companies JSC signed a cooperation agreement during the Russian Investment Forum in Sochi, Russia, to work on financing high-tech, innovations and investments in disruptive technologies, including projects aimed at developing digital economy, industry 4.0, blockchain, and neurotechnologies. Both parties are going to pay special attention to supporting export of

The Development Bank of Japan (DBJ) offers “DBJ Green Building Certification” in order to support its customers who own or operate real estate properties with high environmental and social awareness. Based on its comprehensive evaluation system, which includes not only an environmental perspective but also a social one (owner response to social needs of the