Philippines: ADB Grants MFI-NGO $30-M Credit Facility for Micro-Entrepreneurs

Microfinance institution and non-government organization (MFI-NGO) ASA Philippines Foundation has received the first tranche of the credit facility from the Asian Development Bank (ADB) amounting to USD10 million, which it will extend as loans to over 25,000 women-entrepreneurs owning small businesses which suffer from the economic impact of the coronavirus disease 2019 (Covid-19) pandemic.

In a statement Wednesday, ASA Philippines Foundation said the disbursement of loans began on June 22.The ADB granted the Foundation a USD30-million credit facility for micro-entrepreneurs from economically-lagging, environmentally-impacted and conflict-affected provinces in the country.

 

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The Philippine News Agency
Wednesday, June 24, 2020
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