INTERNATIONAL Finance Corp. (IFC), a member of the World Bank Group, said Friday that it had partnered with CreditAccess Philippines Financing Co. Inc. (OnePuhunan) to improve access to finance and promote job creation especially in rural areas across the country.
The deal, processed under the MSME Finance Platform, consists of a three-year senior loan to OnePuhunan comprising an A Loan of up to $20 million and mobilization of up to $40 million for on-lending exclusively to women-owned/led micro enterprises.
“MSMEs (micro, small and medium enterprises) play a major role in creating jobs and boosting prosperity, especially in underserved communities,” IFC Country Manager Amena Arief 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,” she added.
Meanwhile, OnePuhunan President and CEO 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.”
“The company remains committed to providing convenient financing for clients’ working capital and business growth needs, while developing new products to address the evolving needs of women microentrepreneurs and their households.”
Established in 2014, OnePuhunan currently serves over 600,000 clients through its 300 branches nationwide.