PHNOM PENH: State-run Agricultural and Rural Development Bank (ARDB) will host the 47th ADFIAP (Association of Development Financing Institutions in Asia and the Pacific) Annual Meeting from May 16-18, 2024, after becoming a member of ADFIAP for more than 20 years.

The announcement was made in the 46th ADFIAP Annual Meeting, held from May 15-17, 2023 in Almaty, Kazakhstan.

It is a great honor for the ARDB to host the annual meeting, which underscores the state-run bank's strength and active participation as a member in the past, said its Director General H.E. Kao Thach in a statement.

“ARDB has been actively involved in implementing the Cambodian government's policy in providing special financing to support all actors in the agricultural, agro-industrial and socio-economic development chain,” H.E. Kao Thach said.

Forty-one (41) countries and more than 90 Development Financing Institutions are expected to join the 47th ADFIAP Annual Meeting in Cambodia, he added.

At the same time, ARDB has also won the “Development Awards 2023” for the Government Special Fund Financing Programme for Small and Medium Agricultural Enterprises Development in the 46th ADFIAP Annual Meeting in Kazakhstan.

This Development Awards is one of the prestigious awards for development financing institutions who has excellent project, contributed to social development, rural economic development, as well as promoting sustainable financing.

In 1976, the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) was established in the form of a non-governmental organisation advising the Economic and Social Council of the United Nations, with a permanent secretariat in Makati, Manila, the Philippines.

ADFIAP's mission is to promote sustainable development through the strengthening of institutions and financial functions for development, capacity building of members, and advocacy for financial innovation for development.

ADFIAP currently has 90-member development finance institutions from 40 countries in Asia. The ARDB of Cambodia has been a member of ADFIAP since 2005.