November 3, 2003

SADC: Member States’ meeting on network of development finance institutions

Nine Southern Africa Development Community (SADC) member-states were holding a two-day sub-committee meeting on the network of development finance institutions (DFIs) in Livingstone under the sponsorship of the Development Bank of Zambia (DBZ) aimed at enhancing regional economic cooperation and integration. The meeting attracted about 31 delegates from DFIs in Angola, Botswana, Malawi, Mauritius, Swaziland, South Africa, Tanzania, Zimbabwe and Zambia.

DBZ marketing and public relations manager Ackim Mwale said that the DFIs had agreed on the need to exchange experiences in the development of credit and other policies, procedures and methods including loan book management and loan loss provisions, to develop appropriate training courses and programmes, to further develop and enhance the skills of management and staff. The DFIs had further agreed to facilitate the secondment of management and staff to allow for the practical transfer of knowledge and skills.

It had also agreed to foster exchange of appropriate technologies, to share experiences and practices in respect of development banking, to collaborate with each other in strengthening and enhancing the credit worthiness of members and to share knowledge in respect of credit enhancement techniques including the acquisition of international ratings. Mwale revealed that in order to help meeting the network's objectives, SADC ministers responsible for finance and investment had agreed and established the development finance resource centre (DFRC) housed in Botswana. According to him, "the DRFC acts as a catalyst for sustainable development within the DFI network -- to improve investment and enhance the prosperity of the region." (The Times of Zambia, Ndola)

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