OREANDA-NEWS. January 10, 2013. State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” joined the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) as a full-fledged member.

Joining ADFIAP will enable Vnesheconombank to participate in co-financing with other Association members of various projects in such areas as infrastructure, environmental protection, energy efficiency, social development, micro-finance and SME projects. Vnesheconombank joined ADFIAP as an observer in September 2007.

Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) was established in October 1976 and is one of the major associations of banks and other development financing institutions comprising about 121 institutions. The Association seeks to coordinate the activities of development financing institutions to secure social and economic development of the region. The Association members include the Asian Development Bank; KfW Bankengruppe and financial institutions from 45 countries. ADFIAP acts as one of co-founders of the World Federation of Development Financing Institutions. ADFIAP Secretariat is located in Manila, the Philippines.