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2014-01 Financing the missing-middle in the Philippines – A case study with NPFC

posted Jan 25, 2014, 3:51 PM by Sakura Initiative   [ updated Jan 3, 2015, 3:24 AM by Ethi Ethics ]

A conference

honored by Her Excellency Victoria S. Bataclan, Ambassador of the Philippine to Brussels and Alain Kinsch, Consul General a.h. to Luxembourg

Amando Tetangco, Governor of the Bangko Sentral ng Pilipinas (BSP) said in Dec. 2013 that “Philippine expansion in 2013  may exceed the government’s 6 % to 7 % target”. According to Bloomberg surveys,the nation is poised to be among the world’s five fastest-growing economies in 2013 and 2014. .

Behind these good news, there is another reality : those of the missing-middle, i.e. the small enterprises which are striving to find out funding for their business growth, while they significantly contribute to create jobs, thus reducing migration flows to urban areas with the (high) risk of ending up in slums. “Only 15% of small enterprises in the Philippines use banks to finance their operation and investments. This is considerably less than the average for East Asia and the Pacific rim, of which about 25% access bank financing”, said Niny Khor (Asian Development Bank) in his keynote speech “Constraints to SME Growth and SME Financing in the Philippines” for the NPFC Launch, July 2011.

Sakura Initiative,
Jan 25, 2014, 4:12 PM
Sakura Initiative,
Jan 25, 2014, 3:51 PM