Bank of the Philippine Islands (BPI), Philippines’ second largest lender, is looking at extending loans to small- and medium-sized agribusinesses and is seeking the help of the World Bank’s private sector investment arm, International Finance Corp. (IFC), to gain competence in this arena.
For the agricultural loans program, Mr. Salcedo said BPI may ask IFC to give investment advisory or enter into a risk sharing arrangement.
BPI’s outstanding loans to the agriculture sector presently totals to just around P10 billion.
Republic Act 10000 or the Agri-Agra Reform Credit Act of 2009 orders banks to set aside at least 25% of their total loanable funds for agriculture and agrarian reform.
Regarding BPI’s $1.24-million grant, Ms. Biason said it will be used to “improve the market’s awareness through education of SMEs in energy efficiency and renewable energy projects.”
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Managing technology. Small business (SME). Non-profits (NGO).
Tuesday, May 22, 2012
Tuesday, May 8, 2012
IFC, BanKO launch clean energy program
The World Bank’s private-sector arm, the International Finance Corp. (IFC), has partnered with a local bank to help extend microfinance resources to small and medium enterprises (SMEs) that would like to avail themselves of clean-energy and energy-saving systems.
In a statement, the IFC said it recently signed an agreement with mobile-based Philippine bank BPI Globe BanKO, which is jointly owned by Bank of the Philippine Islands (BPI), Globe Telecom and Ayala Corp.
This makes BanKO the third Philippine bank to partner with IFC on its Sustainable Energy Finance program. IFC earlier joined forces with BPI and Banco de Oro Unibank.
IFC said the program stimulates investment in energy- efficiency projects by supporting banks in building an energy efficiency-financing business.
BanKO targets micro, small and medium enterprises, which account for some 98 percent of total businesses in the country and employ one of every three Filipino workers.
Under the two-year agreement, IFC and BanKO will determine demand for smaller renewable energy and energy-efficiency systems that could be financed by the bank, either through direct lending or through its network of non-government organization partners.
Earlier IFC BPI signed a risk-sharing agreement on the Sustainable Energy Finance program. The new, expanded agreement will allow IFC and BPI to share the risk for up to P5 billion of BPI’s portfolio of clean energy projects.
In a statement, the IFC said it recently signed an agreement with mobile-based Philippine bank BPI Globe BanKO, which is jointly owned by Bank of the Philippine Islands (BPI), Globe Telecom and Ayala Corp.
This makes BanKO the third Philippine bank to partner with IFC on its Sustainable Energy Finance program. IFC earlier joined forces with BPI and Banco de Oro Unibank.
IFC said the program stimulates investment in energy- efficiency projects by supporting banks in building an energy efficiency-financing business.
BanKO targets micro, small and medium enterprises, which account for some 98 percent of total businesses in the country and employ one of every three Filipino workers.
Under the two-year agreement, IFC and BanKO will determine demand for smaller renewable energy and energy-efficiency systems that could be financed by the bank, either through direct lending or through its network of non-government organization partners.
Earlier IFC BPI signed a risk-sharing agreement on the Sustainable Energy Finance program. The new, expanded agreement will allow IFC and BPI to share the risk for up to P5 billion of BPI’s portfolio of clean energy projects.
Friday, April 13, 2012
Philippines' 5th in the world in women entrepreneurship
10.9% of the working age population are self-employed women, according to this interactive report from CNN. Read
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