April 29, 2008
SIDBI has been given a “Plaque of Merit” under the SME Development Category by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) at its 31st Annual Meeting held on April 29, 2008 at Tehran, Iran. ADFIAP, as a part of its Annual Development Awards, honours its members who have contributed substantially to the development of their nation. The Award to SIDBI was for given for the establishment of Role Model Fund for Equity Assistance to SMEs in the area of Software and Information Technology – National Venture Fund for Software and Information Technology Industry (NFSIT). The fund is being managed by SIDBI Venture Capital Ltd. (SVCL), a wholly owned subsidiary of SIDBI.
ADFIAP has been the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Founded in 1976, ADFIAP has currently 90 member-institutions in 37 countries.
ADFIAP’s Development Awards, which are given annually to recognise the outstanding project achievement of its member banks have become a hallmark of development performance and excellence in the region.