The National Bank of Uzbekistan for Foreign Economic Activities (NBU) was given Special Recognition Award for its project "Micro-lending facility for farmers and rural enterprises" during the Awards Nights of the 30th ADFIAP annual meetings in Hanoi, Vietnam, on 9-12 May.
ADFIAP – Association of Development Financing Institutions in Asia and the Pacific – is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Its mission is to advance sustainable development through its members, UzReport.com reported.
Founded in 1976, ADFIAP has currently 76 member-institutions in 36 countries. The Asian Development Bank is a special member of the association. ADFIAP is also a founding member of the World Federation of Development Financing Institutions composed of regional associations in Africa, Asia-Pacific, Latin America and the Middle East. ADFIAP is an NGO in consultative status with the United Nations’ Economic and Social Council. The permanent Secretariat of ADFIAP is based in Makati City, Metro Manila, Philippines.
Executive directors and managers of the high ranking ADFIAP member organizations participated in the meetings. The successful meetings consisted the 17th Ordinary Meeting of the General Assembly, the 65th Board of Directors Meeting, the Permanent Working Committee Meetings, the ADFIAP Awards Night, the ADFIAP Expo, the new networking event, Delegate-Meets-Delegate, two roundtables on water sector finance and the ADFIAP Enterprise Fund, and the conference proper with the theme "DFIs: Measuring up to international standards and best practices."
ADFIAP introduced an annual awards program of Outstanding Development Project Awards, which recognizes the ADFIAP member banks’ achievements in various directions of banking activity.
NBU was recognized for its noble and exceptional approach to reduce poverty in the country by providing microloans to farmers and rural families in the poorest areas to improve their income-generating capacity through enterprise-building, despite being the largest commercial bank in Uzbekistan.
NBU joined ADFIAP in 2000 and its Board of Directors in 2001. Also, under the ADFIAP program NBU received the following awards: the year 2002 – for the "System of remote electronic service of clients" (Bank-client) product in the "Development of technologies" nomination; 2003 – for the "Microlending program" product in the "Development of small and medium business" nomination"; 2004 – certificate (2nd place) for the "Underwriting of securities" program in the "Development of national economy" nomination.