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CESMED. Multi-stakeholder Consultation on Financing for Development in the Asia-Pacific Region. Organised by The United Nations - Department of Economic and Social Affair in collaboration with Association of Development Financing Institutions in Asia & the Pacific.

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CESMED

Multi-stakeholder Consultation on Financing for Development in the Asia-Pacific Region.

Organised by

The United Nations - Department of Economic and Social Affair

in collaboration with

Association of Development Financing Institutions in Asia & the Pacific

“Development Financial Institutions at Cross-roads

Rethinking their Role & Systemic Reforms”

Dr. Sailendra Narain

Chairman

Centre for SME Growth & Development Finance (CESMED)

( E:mail - snpn@vsnl.net )

Presented by

dfis and economic development
DFIs and Economic Development

* DFIs: Systemic and institutional importance

* DFIs’ contributions in the last 5 decades

* Millennium Goals :

- Financing for Development (FfD)and role of DFIs

dfis at cross roads

Resources Cost

Legal Restrictions

Banks’ Competition

Rigid Environment

DFIs at Cross- Roads

Development Financial System going out of focus

DFIs’ sagging financial health made them uncompetitive

DFIs: Obstacles & Limitations

development financing an overview
Development Financing : An Overview
  • Regional Economic Contributions by DFIs
  • Asia - Africa - Latin America
  • Greater Mekong Sub-region (GMS) – Economic Corridors
  • India- DFIs Performance & FICCI Survey results
indian dfis ficci survey results
Indian DFIs - FICCI Survey Results

RESPONDANTS’ REPLIES- GRAPHIC PRESENTATION

( Source : FICCI Research Paper )

whether development finance still relevant
Whether Development Finance Still Relevant ?
  • The Premise:

- Development financing as a system and DFIs as an

institution are central & essential for development

- DFIs & commercial banks should co-exist rather than

compete

- Given this premise:

= DFIs need to be made competitive & viable

= DFIs’ traditional role must change with systemic reforms

suggested road map
Suggested Road-Map
  • DFIs to be brought back in sharp focus
  • Policies of Governments’ & Central Banks’ to be re-oriented
  • Friendly enabling environment, level-playing field, restructuring

and setting up special fund for resource support

  • Linking Micro Finance Institutions (MFIs) with formal DFIs
issues for discussion
Issues for Discussion
  • Are DFIs still relevant? Whether they should perish or survive ?
  • If DFIs are central to the development process, how can they

be made viable, relevant and competitive?

  • If a three-tier development financial system is suggested:

(i) Apex DFI (ii) Regional DFIs and (iii) Local DFIs (MFIs)

will the system be viable and effective?

  • To tackle “Cost of Resources” problem,,how about creating

“DFIs Development Fund” at Regional levels by federating DFIs of a few countries (such as all DFIs of Mekong Region six countries) with sovereign guarantee, political risk cover from MIGA / World Bank, and better rating.This Regional Fund with strong rating and can attract resources at affordable rates and on-lend to member DFIs for operations.

  • Perhaps ADFIAP can take a lead in setting up a DFIs Development Fund for the Greater Mekong Region as a pilot project, in which Governments, financial institutions, multilateral institutions and private sector could become stakeholders.