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IPDC wins ADFIAP award for blockchain-based supply chain finance

Orjon is a supply chain financing solution that provides financial facilities to corporates and micro and small enterprises

The Philippines-based Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) presented an “Outstanding Development Project Award” to IPDC Finance Ltd for its supply chain finance project.

IPDC received the award in category 5 (technology development) during the 43rd ADFIAP Virtual Annual Meeting held online on October 29, said a press release.

On 5 December 2019, IPDC launched Orjon, the first-ever blockchain-based digital supply chain finance platform in Southeast Asia, with support from DFID and technology partner IBM.

Orjon is a supply chain financing solution that provides financial facilities to corporates and micro and small enterprises.

Under the system, small enterprises across the country will get loans easily and at a lower cost as the platform will do away with existing manual process.

Since its launch, Orjon has been receiving admiration from industry experts, corporate entities, and customers.

Different local and international media have also highlighted the initiative for its uniqueness, convenience, safety, and capacity to support large-scale transactions.

“The ADFIAP Award does not only hold prestige, but also recognises our goal to create a holistic supply chain financing ecosystem which is the first of its kind in Bangladesh. I am confident that better business environment, market expansion and more than 200,000 new jobs will be created in the next five years with greater financial progress than ever before,” said Mominul Islam, managing director and CEO of IPDC.

Since 1997, ADFIAP honors member banks or non-banking financial institutions that undertake or assist projects that have created a development impact in their respective countries.

Last year, IPDC CEO Mominul Islam was awarded “Outstanding CEO” by the ADFIAP. 

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