Phnom Penh, March 22, 2024 – Cambodia's Agricultural and Rural Development Bank (ARDB) is gearing up to host the 47th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in May this year.

Details of the preparations came to light following a virtual meeting held on Thursday between ARDB officials and the ADFIAP Secretariat.

This year's ADFIAP meeting, set to run from May 15-17, 2024, will convene under the theme “Development Financing Institutions (DFIs) Role in Sustainable Finance Ecosystem: Cultivating A Climate-Smart and Sustainable Future.” The event promises to bring together 93 institutions from 41 countries, along with various stakeholders from Cambodia, highlighting the critical role of DFIs in fostering sustainable financial ecosystems.

"The ARDB is honored to host this significant event, which reflects our longstanding commitment and active participation within ADFIAP," said a spokesperson for ARDB. This gathering is an essential platform for discussing progress and preparation for the upcoming annual meeting in Cambodia.

Founded in 1976 as a non-governmental organization advising the Economic and Social Council of the United Nations, ADFIAP boasts a permanent secretariat in Makati, Manila, Philippines, and has 90 member institutions from 40 countries across Asia. The ARDB joined ADFIAP in 2005, marking a significant step in its engagement with development finance on a regional level.

ADFIAP's mission revolves around advocating sustainable development through strengthening the roles and functions of development finance institutions, building the capacities of its members, and promoting financial innovations aimed at development.

The ARDB has played a pivotal role in executing the Cambodian government's policy by providing specialized financing to support various actors within the agricultural, agro-industrial, and socio-economic development sectors.