ADB Commits $30 Million Loan to Support MSMEs in the Philippines
Philippines, Feb. 6 -- The Asian Development Bank (ADB) has signed a $30 million loan to Fuse Financing Inc. to help expand access to credit for micro, small and medium-sized enterprises (MSMEs) through a digital lending platform. The financing will boost support for women-owned enterprises and promote inclusive growth in the Philippines.The loan will promote the use of digital technologies in offering financing to underserved and unserved segments of the Philippine population, especially in hard-to-reach rural areas. Access to finance remains one of the most persistent barriers for local businesses, particularly women-owned MSMEs, which continue to face more restrictive lending terms and fewer tailored financial products. Fuse, the lending...
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