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“Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek.” – Barack Obama
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COVID-19 to plunge global economy into worst recession since World War II
The global economy will shrink by 5.2% this year. That would represent the deepest recession since the Second World War, with the largest fraction of economies experiencing declines in per capita output since 1870, the World Bank says in its June 2020 Global Economic Prospects.
Source: World Bank .
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APEC Report: COVID-19 crisis deepens contraction in the Asia-Pacific region
According to APEC Report, the COVID-19 pandemic is causing a deeper contraction to the region’s economy. The APEC region’s economic growth is now expected to fall to – 4.9 percent, compared to a decline of -3 percent estimated earlier by the IMF.
Source: APEC
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FAO partners with the Adaptation Fund to help vulnerable countries fight the impact of climate change
The Food and Agriculture Organization of the United Nations (FAO) has been accredited as an implementing partner of the Adaptation Fund and will work with the international fund on projects to help vulnerable countries fight the harmful effects of climate change. FAO is already accredited with the Green Climate Fund and now becomes the 13th multilateral implementing entity to work with the Adaptation Fund.
Source: Food and Agriculture Organization
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IFC, PIIF cooperate to fund infra gap in the Pacific
The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with pension, provident and sovereign funds who are members of the Pacific Islands Investment Forum (PIIF), with the aim of helping bridge the infrastructure investment gap in the region. PIIF’s membership collectively own more than $8 billion worth of assets. It’s estimated the infrastructure gap in the region amounts to US$45 billion over 12 years. Source: International Finance Corporation
Source: Food and Agriculture Organization
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DFCC shares perspectives on banking in the ‘new normal’
DFCC Bank shares how it has survived the COVID-19 pandemic and its tremendous impact on the entire world and the far-reaching socio-economic implications, many of which are still emerging. DBCC Bank tackles how it prepared for the resumption of work under unusual circumstances.
Source: DFCC
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JSC DBB gets stable rating
The international rating agency S&P Global Ratings affirmed the long-term and short-term credit ratings of the Development Bank of the Republic of Belarus at “?/?” (outlook stable). This stemmed from the “integral” connection to the Government of the Republic of Belarus and the “critical” role of the Bank in the implementation of certain high-priority state projects.
Source: JSC Development Bank of the Republic of Belarus
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BCI reduces loan interest rate
BCI reduces loan interest rate The Bank of the Cook Islands has announced interest rate reduction of 0.25% on business loans, home loans and personal loans effective July 1, 2020 to ensure preserving the financial and personal wellbeing of customers.
Source: Bank of the Cook Islands
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KfW diversifies funding sources and adjusts capital markets funding volume
KfW has successfully implemented its funding strategy in capital markets in the first half of the year despite the COVID-19 crisis. KfW was one of the first issuers to reopen the market, issuing a Euro Benchmark Bond with a maturity of five years and three years. Overall, KfW issued securities in 86 transactions in the international capital markets in 14 currencies in the first six months of this year, raising around EUR 36 billion.
Source: KfW
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Exim Bank India extends credit line to Nicaragua
Export-Import Bank of India extended credit line of USD 20.10 million to Nicaragua for reconstruction of Aldo Chavarria Hospital. Projects covered under the credit line also includes supply of equipment for building two substations, construction of transmission lines, building new substation, and expansion of the existing substations and.
Source: Export-Import Bank of India
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NABARD raises on-lending fund to Punjab State Cooperative Bank
India’s National Bank for Agriculture and Rural Development (NABARD) has increased funds for on-lending to the state cooperative bank, from Rs 3,800 crore in 2019 to Rs 4,200 crore this year. With this, the Bank will be lending an additional Rs 400 crore to farmers as term loans, extending the facility of cooperative liquidity through the primary agriculture credit societies (PACS).
Source: NABARD
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PT SMI, PLN eye US$ 2B to fund infra projects
Indonesia’s PT Sarana Multi Infrastruktur (SMI) and PT Perusahaan Listik Negara (PLN) are eyeing funds from abroad of up to US$ 2 billion from global bond offerings of US$ 1.5 billion and syndicated loans of US$ 500 million. In accordance with its mandate, PT SMI will use the loan to support infrastructure projects.
Source: PT Sarana Multi Infrastruktrur (Persero)
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DBJ adopts the Equator Principles
Development Bank of Japan recently adopted the “Equator Principles”, a voluntary framework designed to ensure that in extending loans to large-scale projects, financial institutions give due consideration to the impact of such projects on the natural environment and local communities. Mitigating steps will be required by DBJ if a project’s environmental and social (E&S) risks are deemed significant.
Source: Development Bank of Japan
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JBIC issues guarantee to boost competitiveness of Japanese aviation industry
The Japan Bank for International Cooperation signed recently a guarantee agreement with private financial institutions to maintain and enhance the international competitiveness of the Japanese aviation industry. The total principal covered by the guarantee is approximately JPY85.6 billion.
Source: JBIC
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SME Bank allocates RM2.1B for SMEs
Malaysia’s SME Bank has allocated up to RM2.1 billion for the “SME Go” scheme and SME Technology Transformation Fund (STTF) under the Penjana programme. The objective of the fund is also to increase SMEs’ adoption of technology under the Fourth Industry Revolution (IR 4.0) to face the ‘new normal’.
Source: SME Bank Malaysia Berhad
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ODB provides interest free soft loans to most affected sectors amid COVID-19
The Oman Development Bank has supported the call of Majesty Sultan Haitham bin Tariq al-Muaazam to assist the most affected sectors during the pandemic. ODB offers interest free soft loans of up to 48 months with a grace period of 6 months. The initiative is implemented in coordination with the Public Authority for Small and Medium Enterprises Development (Riyada) and Al Rafd Fund.
Source: Oman Development Bank
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ADB joins Network for Greening the Financial System
The Asian Development Bank joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as an observer. NGFS is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector. NGFS is a valuable network to share ADB’s approaches and experience in addressing climate risk management in the financial sector.
Source: Asian Development Bank
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DBP taps tie-ups to push financial inclusion
The Development Bank of the Philippines will forge ahead with its financial inclusion initiatives this year by tapping financial technology companies (FinTech), non-bank financial institutions (NBFIs), as well as rural banks while optimizing available information technology (IT) applications to improve service delivery to its customers.
Source: Development Bank of the Philippines
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ADFIAP, ADFIMI, ADFIM collaborate for e-forum on DFIs
ADFIAP, its regional counterpart ADFIMI (Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank and ADFIM (Association of Development Finance Institutions of Malaysia) organized jointly its first global forum on development finance institutions (DFIs) on July 1, 2020 with a theme, “Post-COVID-19: Navigating the Future.”
Source: ADFIAP
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JSC DBB has new board member
Kirill Rudy has been elected to the Supervisory Board of JSC Development Bank of the Republic of Belarus. He takes the position of an independent director.
Source: JSC Development Bank of Belarus
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PT SMI welcomes two Board of Commissioners members
The Minister of Finance of the Republic of Indonesia has recently appointed Mr. Mahendra Siregar and Mr Iskandar Saleh as President and Independent Commissioner, respectively of PT Sarana Multi Infrastruktur.
Source: PT Sarana Multi Infrastruktrur (Persero)
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DBJ announces changes to members of the Board of Directors, Audit & Supervisory Board Members and Executive Officers
The Minister of Finance of the Republic of Indonesia has recently appointed Mr. Mahendra Siregar and Mr Iskandar Saleh as President and Independent Commissioner, respectively of PT Sarana Multi Infrastruktur.
Source: Development Bank of Japan
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CGC appoints new chairman
The Credit Guarantee Corporation Malaysia Berhad has announced the appointment of Dato’ Mohammed Hussein as its new chairman effective July 1, 2020. He brings with him over 31 years of experience in the banking industry.
Source: Credit Guarantee Corporation Malaysia Berhad
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Protecting nature protects health – lessons for the future from COVID-19
Natural and diverse environments have profound impacts on health and mental well-being. They are the original source of the clean air, water and food that support healthy human societies. Nature is both the origin of infectious and vector-borne diseases and the source of medicines, including many antibiotics.
Source: World Health Organization.
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4 reasons to rethink employee recognition in the remote work area
Many workers feel isolated or neglected when working remotely because it’s easy for leaders to overlook accomplishments when the team isn’t together. Here are some ways to make sure that doesn’t happen.
Source: AuSAE
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How to fight off cyberattacks in an age of remote working
With tens of millions of people working remotely in the wake of the COVID-19 pandemic, the cybersecurity weaknesses of the remote work ecosystem have become apparent. Criminals and nation-state actors have been presented with an exponential growth in access points to pressure and penetrate corporate systems, and the scramble to secure systems from a menagerie of devices, networks and enterprise networks leaves many companies vulnerable to attack, theft or exploitation.
Source: Asian Bankers Association
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Revamping governance structures during a crisis
Opportunities emerge during crises—including chances to update outdated governance structures. Here are some ideas for dusting off ineffective procedures and making real progress in the face of adversity. Now is the time to take a hard look at bylaws and policy provisions that shackle non-profits to ineffective governance procedures.
Source: ASAE
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Greening the entertainment industry is music to the ears
COVID-19 has made outdoor activities, seeing favourite band under moonlit sky, dancing at beloved bar, and going to festival impossible. Like with other industries, the live music sector has been hard hit, as concerts and festivals are postponed and artists are forced to take their gigs online. Virtual concerts can be a more sustainable way of enjoying music.
Source: UNEP
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UNCTAD Investment Policy Monitor: Investment policy responses to the COVID-19 pandemic
This report documents and analyses investment policies that countries around the globe have put in place to protect critical domestic industries from the devastating economic and social effects of the covid-10 pandemic.
Source: UNCTAD
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Diversification and cooperation strategies in a decarbonizing world
Fossil fuel importers can apply various climate and trade taxes to encourage fossil fuel–dependent countries to cooperate on climate mitigation, and fossil fuel–dependent countries can respond with alternative diversification and cooperation strategies. This paper runs macroeconomic model simulations of alternative strategies that the global community and fossil fuel–dependent countries can pursue to encourage and enable their participation in a global low-carbon transition.
Source: World Bank
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The 43rd ADFIAP Annual Meeting will be held virtually on October 28-29, 2020. Preparations are underway. Related information will be provided as soon as available. Be updated with association activities and initiatives by visiting the ADFIAP website regularly.
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ADFIAP MEMBERSHIP RENEWAL
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Please update and remit your annual membership dues soonest possible. For inquiries, please get in touch with Mr. Enrique Florencio at [email protected]
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CloudFisher: Converting Fog Into Drinking Water
Created by Aqualonis, CloudFisher could allow people living in coastal or mountainous areas to convert fog into safe drinking water. This water can also be used to irrigate crops or forestry efforts. It’s made from a 3D mesh that can withstand high wind speeds, while still retaining water. It comes in a variety of sizes, to suit individual needs or the needs of entire villages.
Source: Pixabay
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Desso Airmaster: Carpet That Cleans the Air
Desso Airmaster is an innovative carpet brand that can purify the air in your home, office, or school. It captures dust and other pollutants, leaving the indoor air clean and fresh. The benefits of Desso’s design are self-evident. Improved air quality can have an enormous positive effect on health and well-being. As it uses no power to function. Desso carpetings are an energy-efficient way of maintaining clean air indoors.
Source: Pixabay
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Association of Development Financing Institutions
in Asia and the Pacific
2nd Floor Skyland Plaza
Sen. Gil Puyat Avenue
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