The International Finance Corp. (IFC), a member of the World Bank Group, has partnered with CreditAccess Philippines Financing Company Inc. (OnePuhunan) to improve access to finance and promote job creation especially in rural areas of the country.
Proceeds of the project will be exclusively used for microloans, focusing on women-owned or led microenterprises. OnePuhunan has a nationwide footprint covering 16 regions, with an extensive network in rural areas.
“We are happy to be working with IFC for the first time, as we expand to reach at least 1 million Filipinos by 2030,” said Daniele Rovere, CEO and president of OnePuhunan. “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.”
OnePuhunan plans to continue its branch expansion and digitalization initiatives. 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 micro entrepreneurs and their households.
“MSMEs play a major role in creating jobs and boosting prosperity especially in underserved communities,” said Amena Arief, IFC Country Manager for the Philippines. “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.”
In the Philippines, MSMEs make up 99.6 percent of all registered businesses, with microenterprises accounting for over 90 percent. They play a vital role in employment, generating two‑thirds of total jobs, and contribute around 36 percent of gross domestic product, supporting household incomes and economic resilience in rural areas.
The transaction, processed under the MSME Finance Platform, consists of a three-year senior loan to OnePuhunan, comprising of 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 in the rural areas in the Philippines.
In May 2024, IFC launched a $4 billion MSME Finance Platform to boost financing dedicated to MSMEs through debt, guarantees, and risk-sharing facilities.