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OCTOBER 2020

“The same boiling water that softens the potato, hardens the egg. It’s what you’re made of. Not the circumstances.” – Unknown

GLOBAL/REGIONAL NEWS

WB estimates 150 million extreme poor by 2021

Global extreme poverty is expected to rise in 2020 for the first time in over 20 years as the disruption of the COVID-19 pandemic compounds the forces of conflict and climate change, which were already slowing poverty reduction progress, the World Bank recently stated.

Source: World Bank

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ICD starts development of smart financial transactions platform

The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group (IsDBG), has started developing the "Smart Financial Transactions Platform" (Platform) which aims to raise awareness amongst women and the youth regarding the importance of financial education, and motivate the targeted group to practice healthy financial habits.

Source: ICD

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ADB to work with Indonesia for sustainable recovery from the pandemic

The Asian Development Bank (ADB) commits to support Indonesia in achieving inclusive and sustainable recovery from the coronavirus disease (COVID-19) pandemic and boosting its medium-term economic outlook.

Source: ADB

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UN welcomes nearly $1 billion in recent pledges to bolster access to lifesaving tests, treatments and vaccines to end COVID-19

New commitments from governments, international organizations and the private sector support unified approach to end pandemic, backing a response of unprecedented scale, scope and speed­—through the Access to COVID-19 Tools Accelerator­—as pandemic claims more than 1 million lives.

Source: WHO

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APEC finance ministers to advance fiscal stimulus, press for digital innovation

Against the backdrop of a major global economic and health crisis, finance ministers from 21 APEC member economies recently pledged to continue to use all available policy tools to support the immediate response to the COVID-19 pandemic and move towards a strong, sustainable, balanced and inclusive recovery.

Source: APEC

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MEMBERS NEWS

DBM gets rating of “B” from international credit rating agencies

The Development Bank of Mongolia has received a credit rating of “B” with a stable outlook in August 2020 from Standard & Poor's (S&P Global) and Fitch. The international credit rating agencies highlighted that the credit rating of the DBM is directly linked to the rating of the government since it is the only government-owned policy bank with the primary function of enhancing economic growth and financing export-import activities.

Source: DBM

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ASKI receives sustainability certification

Philippines’ ASKI has received its sustainability certification in a ceremony in Karlsruhe, Germany on September 30, 2020. ASKI has become the first microfinance institution globally to achieve the status of a sustainability-certified financial institution.

Source: ASKI

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IIB attracts new Romanian lei funding

Russia’s International Investment Bank has successfully placed new RON issuance with the volume of 340 million (approx. EUR 70 million) under the IIB’s MTN Programme registered on the Dublin Stock Exchange.

Source: IIB

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DFCC Bank supports tea company’s acquisition of a confectionary venture

DFCC Bank PLC has completed the acquisition financing for Watawala Tea Ceylon Limited, one of the most established corporate entities in Sri Lanka in acquiring a leading Sri Lankan confectionery company Daintee Limited, adding several brands to its portfolio including Daintee, Milady and Bensons.

Source: DFCC Bank

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DBB supports export of Belarusian construction services

The Development Bank of Belarus (DBB) has financed the construction of a comprehensive school for 1,000 pupils in the town of Balabanovo (Kaluga region of Russian Federation). The school was built by a Belarusian firm “Belstroytsentr” with financial assistance from DBB.

Source: Development Bank of Belarus

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FDB offers an innovative financial solution for family farming businesses

The Fiji Development Bank has crafted the “Family Farming Loan Facility”, an innovative financial solution for those farming for 10 years or more who do not have a land title.

Source: Fiji Development Bank

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LANDBANK extends Php 20B loans to co-ops; vows continued support

Land Bank of the Philippines (LANDBANK) has extended a total of P20.86 billion in outstanding loans to 1,081 cooperatives and farmers’ associations as of end-August 2020, as it expressed its continued commitment to support the role of local co-ops in getting communities and the economy back on its feet amid the ongoing COVID-19 pandemic.

Source: Land Bank of the Philippines

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Exim India releases study on opportunities to strengthen India-GCC relations

India Exim Bank has released its study, “Enhancing India’s Bilateral Relations with the GCC Countries: Trends in Trade, Migration and Remittances” in a webinar it hosted, “Enhancing India-GCC Relations: Prospects in Project Exports and Beyond” on October 6, 2020.

Source: India Exim Bank

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ASSOCIATION NEWS

ADFIAP quietly celebrates 44th year anniversary with virtual tribute

ADFIAP, which was founded on October 1, 1976, celebrated its 44 years of existence with a simple ceremonial tribute to its founding Secretary General, Orlando P. Pena, who passed last August 18, 2020.

Source: ADFIAP

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ADFIAP joins the Philippine sustainable finance alignment initiative

ADFIAP, through its consulting and advisory arm, the ADFIAP Consulting (AC) Group, joined its partners in the sustainable finance framework training consortium composed of the World Wide Fund (WWF) Philippines, Global Reporting Initiative (GRI), the Asian Institute of Management (AIM) and the University of Asia & the Pacific (UA&P) in launching the “Philippine Sustainable Finance Alignment Initiative.”

Source: ADFIAP

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ADFIAP, AFD hold joint webinar on green finance

ADFIAP and the French Development Agency (Agence Française de Développement - AFD) conducted a webinar on “Financing the Green Transition and Climate Action” on September 23 and 24, 2020. The 2-day, 1-1/2 hour per day online event was attended by ADFIAP members and secretariat staff and AFD officers.

Source: ADFIAP

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ADFIAP, partners hold 1st World Development Finance Forum

ADFIAP and its partners – the Association of African Development Finance Institutions (AADFI), the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI), the City of Karlsruhe, Germany, the European Organization for Sustainable Development (EOSD), the Government of Uganda and the Uganda Development Bank Ltd. – held the 1st World Development Finance Forum on September 29-30, 2020.

Source: ADFIAP

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OPINIONS/INSIGHTS

10 ways to a brighter future of work in the digital economy

Based on findings from seven countries (Canada, China, Germany, India, Indonesia, Singapore and Thailand), the ILO has outlined 10 possible policy responses to inform dialogue among governments, employers’ and workers’ organizations to advance decent work opportunities for more women and men in the digital economy.

Source: ILO

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How staff agility and resilience is tied to organizational success through pandemic

As the coronavirus upends economies and industries, organizations that want to survive must have an agile and resilient workforce. A new Aon survey looks at these crucial skills and how organizations are cultivating them.

Source: AuSAE

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RESOURCES

How COVID-19 Is Changing the World: A Statistical Perspective Volume 2

ADB's contribution to this report highlights the vulnerability of economies that have a significant or growing dependence on remittances.

Source: Asian Development Bank

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ABA’s Webinar on Strengthening Cybersecurity Preparedness for Banks

The webinar provided its members and other participants the opportunity to explore how banks and financial institutions can find ways to adequately protect their businesses from emerging cyber risks.

Source: Asian Bankers Association

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ANNOUNCEMENT

Developing an Environmental and Social Risk Management (ESRM) System for Financial Institutions (FIs)

10-13 and 17-18 November 2020, 1:00-3:00pm (Manila time)


For inquiries, please send email to inquries@adfiap.org

SUSTAINABILITY CORNER

Demetra: Reducing Food Waste Organically

Created by Italian start-up Green Code, Demetra is an all-natural treatment for food preservation. It's made from 100% plant extracts and can improve the shelf life of natural produce.

Thanks to Demetra, produce would no longer require to be kept at cold temperatures while in transit, saving a lot of energy. The produce itself could also stay fresh and ripe longer, effectively reducing food waste in supermarkets and groceries.

Source: McKay Savage/Wikimedia Commons

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Association of Development Financing Institutions in Asia and the Pacific-ADFIAP

2nd Floor Skyland Plaza Building

Sen. Gil Puyat Avenue

Makati 1200 

Philippines

Tel no. +63 2 88161672

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