Article by:
Anna Leah Gonzales
MANILA – International Finance Corporation (IFC), a member of the World Bank Group, partnered with CreditAccess Philippines Financing Company, Inc. (OnePuhunan), to improve access to finance and promote job creation in the country.
In a statement Friday, IFC said the transaction, processed under its Micro, Small and Medium Enterprise (MSME) Finance Platform, consists of a three-year senior loan to OnePuhunan comprising of a loan of up to USD20 million and a mobilization of up to USD40 million for on-lending exclusively to women-owned or led micro enterprises in the rural areas.
“We are happy to be working with IFC for the first time, as we expand to reach at least 1 million Filipinos by 2030,” OnePuhunan chief executive officer and president Daniele Rovere said.
“With this partnership, we aim to continuously improve our product offerings and services to better serve our clients, so they can focus on growing their businesses and supporting their families.”
OnePuhunan currently has a nationwide footprint covering 16 regions, with an extensive network in rural areas.
OnePuhunan plans to continue its branch expansion and digitalization initiatives.
“MSMEs (micro, small and medium enterprises) play a major role in creating jobs and boosting prosperity especially in underserved communities,” Amena Arief, IFC Country Manager for the Philippines, said.
“By partnering with OnePuhunan, IFC is expanding access to finance for women entrepreneurs in rural Philippines —helping them grow businesses, create jobs, and build resilience where it is needed most," Arief said. (PNA)
Log in with Google