MUSCAT: The Development Bank of the Sultanate Oman is participating in the 47th annual meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), which is under way in Phnom Penh, Cambodia from May 15, 2024.
The three-day forming brings together delegates from over 40 countries to explore development finance strategies under the theme ‘DFIs Role in Sustainable Finance Ecosystem: Cultivating a Climate-Smart and Sustainable Future.’ This year’s event will focus on how development finance institutions can enhance their support for environmentally and socially responsible business practices. By fostering investment in greener technologies and businesses.
Hussain al Lawati, CEO, Development Bank, emphasized the important role of the Phnom Penh event in supporting regional economies: “Our presence at ADFIAP meetings is crucial for promoting practices that support not only environmentally responsible financing but also economic resilience, particularly through our support of small and medium-sized enterprise.” Approximately 93 institutions, including ADFIAP members and stakeholders will participate in the event which will facilitate discussions on innovative financing solutions for climate-smart projects.
Founded in 1976, ADFIAP plays a key role in shaping development policies and enhancing the operational competencies of its members to address regional development priorities.
Development Bank is committed to leveraging the insights gained from the annual meeting to further its initiatives in sustainable financing.
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