The International Finance Corporation ( IFC ) provided a financing package to Philippine micro finance institution CreditAccess Philippines Financing Company ( OnePuhunan ) to improve access to finance for women micro entrepreneurs and promote job creation in rural areas.

The transaction, announced on March 13, was processed under the IFC MSME ( micro, small and medium-sized enterprise ) Finance Platform. It consisted of a three-year senior loan comprising a loan of up to US$20 million and a mobilization of up to US$40 million for on-lending exclusively to women-owned or -led micro enterprises in the rural areas in the country.

The IFC launched a US$4 billion MSME Finance Platform in May 2024 to boost financing dedicated to MSMEs through debt, guarantees and risk-sharing facilities.

This is the first time OnePuhunan is working with the IFC, according to Daniele Rovere, the micro financer’s president and CEO, who adds that the company will expand its reach to at least one million Filipinos by 2030. “With this partnership, we aim to continuously improve our product offerings and services to better serve our clients,” he points out, “so they can focus on growing their businesses and supporting their families.”

OnePuhunan, established in 2014, has a nationwide footprint covering 16 regions, with an extensive network in the rural areas. It plans to continue its branch expansion and digitalization initiatives. The company, it points out, 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,” adds Amena Arief, the IFC’s country manager for the Philippines. “By partnering with OnePuhunan, the 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.”

MSMEs make up 99.6% of all registered businesses in the Philippines, according to the IFC, with micro enterprises accounting for over 90%. They play a vital role in employment, generating two-thirds of total jobs and contribute around 36% of GDP, supporting household incomes and economic resilience in rural areas.