Africa, Asia-Pacific DFIs forge stronger working ties
Development finance institutions (DFIs) in Africa and Asia-Pacific have forged closer working ties as a way of sharing ideas and solving common problems.
Mr. Arjun Rishya Fernando, Chairman of the World Federation of Development Finance Institutions (WFDFI) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP);revealed yesterday that the ADFIAP has forged closer working ties with the African Association of Development Finance institutions (AADFI). The Africa and Asia-Pacific DFIs started their own biennial CEO Forum in 2012, which was first held in Johannesburg South Africa and later Kuala Lumpur, Malaysia.
“The Africa Asia-Pacific cooperation has further strengthened and advanced the role of DFIs in both continents and resulted in joint study missions, training programs, and information exchanges,” said Mr. Fernando.
He added that Asia-Pacific countries share common problems and challenges with their African counterparts, such that cooperation between the two will foster development. For his part, AADFI Chairman Mr. Patrick Dlamini said the Association recognises the need to work together with other partners in promoting development.
“Lessons learnt from our colleagues in Asia-Pacific, Latin America, Europe and indeed Africa will be useful in moving our various economies forward,” he said.
He further revealed that Latin America and Asia have moved with great speed in achieving their millennium development goals as they adopted the right models for funding small micro and medium enterprises as well as youth and women owned enterprises.
“They have created jobs just from financing SMEs. We can learn a lot from them as Africa. I am confident that over the next few days we will learn from them in terms of SME development. You see, DFIs are all about changing the arc of history for the betterment of humanity,” he said.
As a practical example of cooperation between African and Asia-Pacific DFIs, Sri Lanka is exploring possibilities of financing power projects in Tanzania and Uganda. For his part, CEDA CEO Mr. Thabo Thamane said DFIs are different in terms of capacity and age, such that smaller ones like CEDA can learn from their bigger counterparts.
“As CEDA, we are exploring opportunities for shared mapping and strengthening cross border development financing,” he said.
For further clarity or enquiries regarding the WFDFI CEO's Forum kindly contact:
Mr. Leatile G. Bakwena
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