The International Finance Corporation (IFC), a member of the World Bank Group, has partnered with CreditAccess Philippines Financing Company, Inc. (OnePuhunan), a leading microfinance institution in the Philippines, to improve access to finance and promote job creation in rural communities. This collaboration focuses on microloans, particularly for women-owned or led microenterprises, aiming to support business growth and enhance livelihoods in underserved regions.
OnePuhunan has an extensive network of branches across 16 regions in the Philippines, with a strong presence in rural areas. The partnership with IFC is part of OnePuhunan’s broader goal to reach at least 1 million Filipinos by 2030, expanding its services and digital offerings. The CEO and President of OnePuhunan, Daniele Rovere, expressed enthusiasm about the partnership, noting it would enable the organization to improve its products and services to better serve its clients, particularly women micro-entrepreneurs.
The IFC’s Country Manager for the Philippines, Amena Arief, highlighted the importance of micro, small, and medium-sized enterprises (MSMEs) in creating jobs and supporting prosperity, especially in rural areas. With MSMEs making up nearly 100% of all registered businesses in the Philippines and generating two-thirds of total employment, they are crucial to economic stability. This collaboration aims to enhance access to finance for women entrepreneurs in these rural areas, enabling them to grow their businesses, create jobs, and strengthen their resilience.
The partnership is part of the IFC’s MSME Finance Platform, through which the IFC is providing a three-year senior loan to OnePuhunan. This includes a $20 million A Loan and an additional $40 million mobilized for on-lending to women-owned or led microenterprises. This initiative is in line with IFC’s broader mission to foster economic development and financial inclusion, particularly in underserved communities.
IFC’s $4 billion MSME Finance Platform, launched in May 2024, is aimed at boosting financing for MSMEs through various financial instruments, including debt, guarantees, and risk-sharing facilities. This initiative plays a critical role in addressing the financial needs of small businesses, particularly those led by women, which often face significant barriers to accessing traditional forms of financing.
OnePuhunan, established in 2014, operates over 300 branches nationwide and serves more than 600,000 clients. The organization’s commitment to providing reliable and customer-focused financial services continues to drive its mission to support microenterprises and contribute to the economic development of the Philippines, especially in rural areas.
