OREANDA-NEWS. The 37th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) was held in Moscow. State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' acted as an organizer and a host.

All in all, representatives of 62 international financing institutions from 23 countries participated in the meeting.

Speaking at a meeting of the ADFIAP Board of Directors Vnesheconombank Chairman Vladimir Dmitriev said, "Vnesheconombank regards its membership in ADFIAP as a chance to bring new ideas into its activity and give its members new opportunities in Russia. Vladimir Dmitriev stressed that the Association could expand its scope of activity and become a platform for searching for and implementing joint projectsin the countries of the Asian Pacific region".

As part of ADFIAP's annual meeting, Vnesheconombank's management held bilateral meetings with the management of the Development Bank of Mongolia, Export-Import Bank of India and others. They discussed issues of their current and potential bilateral cooperation in implementing joint projects in sustainable development, energy efficiency and infrastructure as well as funding of small and medium-sized enterprises' projects, they also shared business experience and best business practices with regard to their main lines of activity.

In the course of the meeting, Vnesheconombank and the Development Bank of Mongolia signed a Memorandum of Understanding.

The next ADFIAP annual meeting is to be held in Vietnam in 2015.

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 109 institutions from 41 countries. Vnesheconombank has been a full-fledged member of ADFIAP since January 1, 2013. Vnesheconombank is a member of the ADFIAP Board of Directors. At present, President of Credit Corporation Malaysia Mr. Datuk Wan Azhar Wan is the Chairman of ADFIAP. The ADFIAP Board of Directors includes 23 development institutions.