OPENING REMARKS

Nihal Fonseka

CEO, DFCC Bank / Chairman, ADFIAP

Excellencies, Distinguished Guests, Fellow Development Bankers, Ladies and Gentlemen,

A very pleasant morning to you all.

On behalf of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), I wish to welcome you all to the 35th ADFIAP Annual Meetings set in this beautiful and historic metropolis of Istanbul.

This meeting would not have been possible without the kind and generous support of our member here, the Development Bank of Turkey, represented by its CEO Mr. Metin Pehlivan. Thank you, DBT.

I wish to also thank all of the officers and staff of the Bank who have worked exceptionally hard to host us here in Istanbul.

I also wish to express our gratitude to His Excellency Cevdet Yilmaz, Minister of Development, Republic of Turkey,for making time to join us today for this opening ceremony.

My appreciation also goes to all the speakers, members and guests who came all the way from other countries to be here to know one other, learn from each other, and work together toward a sustainable future.

Ladies and gentlemen, we all know that most of the economies represented in ADFIAP’s geographical coverage, and most of the world as well, went through a bad time. The global economic recession that hit its peak in 2008 still lingers in some countries up till today although there are signs of an improved situation in many others. Lessons learned from the crisis have clearly shown that the world economy has indeed become more integrated due to increased trade linkages and connectivity through technology, among others. As the global crisis so clearly, if not painfully demonstrated, an economic crisis in one country can become global in nature and impact, rather than being isolated to a particular region in the world.

The adopted theme of this year’s conference, “DFI’s Role in Sustainable Development amidst the Economic Crisis”, is very much relevant to ADFIAP and its members which have, more than ever, gained recognition for and appreciation of their essential role in national and regional economic development during the time of crisis. In fact, during the crisis, DFIs have distinctly led and significantly participated in the re-stimulation of national economies at the time when markets became jittery, private sector financial institutions held back their lending, SMEs had difficulties to cope, and overall liquidity was decreasing.

The whole day today will be devoted to updating one another, exchanging experiences with each other, and proposing concrete actions for a sustainable future as we all move forward. We will hear from our members, friends and partners, regional and country situationers on their respective economies as well as the activities and contributions of development banks amidst the current business environment. We will also listen to our members’ programs on green financing and well as infrastructure, SME and agriculture financing which are very relevant sectors of development banks. I hope we will all benefit from these interactions and knowledge-sharing with one another. I also hope that we have the time here for friendship, fun and enjoyment on what Istanbul and our kind Turkish hosts have to offer!

I look forward to a pleasant and successful conference. Thank you very much for your attention!

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