Asialink Finance Corp. (AFC) and the International Finance Corp. (IFC) signed a $130 million investment agreement to support AFC's lending program focusing on women-led micro, small, and medium enterprises (MSMEs). The investment will help AFC expand its lending capacity, particularly in the Visayas and Mindanao, and allocate at least 60% of the funds to women-owned or women-led businesses.
Asialink Finance Corp. and the International Finance Corp. sign a $130-million investment agreement to support the former’s lending program focusing on women-led micro, small and medium enterprises. Signing the agreement at Makati Shangri-La Hotel on Tuesday are AFC chairman Ruben Lugtu II, Asia Link Group of Companies chief executive Robert Jordan Jr.
The partnership will empower AFC and units Global Dominion Financing Inc. and South Asialink Finance Corp. to expand their lending capacity for MSMEs, allocating at least 60 percent of the funds to support women-owned or women-led businesses. For 27 years, Asialink has been driving economic growth by supporting MSMEs as it recognizes their role in reducing poverty and creating more job opportunities for Filipinos.
According to the Asian Development Bank , many Filipino female entrepreneurs and business owners face challenges in starting and growing businesses due to difficulties securing capital. The MSME sector has been a crucial support system for these women, with a significant portion of enterprises being women-led, highlighting the sector’s resilience and contribution to the economy.
“Because ultimately, we are not just funding companies, we are creating jobs at the grassroots level. Every loan to an MSME can mean five, ten or twenty new jobs in local communities. And that’s what drives an economy forward,” Xu said.
INVESTMENT FINANCE WOMEN ENTREPRENEURS Msmes PHILIPPINES
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