August 24

Asian Development Bank Supports Philippines Financial Inclusion Reforms With $300 Million Loan

The Asian Development Bank (ADB) has approved a USD300-million policy-based loan to support the Philippine government’s efforts to boost inclusive growth by implementing reforms to expand Filipinos’ access to financial services, especially in unserved and underserved areas across the country.

ADB’s Inclusive Finance Development Program, Subprogram 2, is supporting reforms to help the government reach targets linked to the National Strategy for Financial Inclusion.

These measures will strengthen the institutional and policy environment for financial inclusion, improve financial infrastructure, and increase the capacity and reach of service providers, especially rural banks and non-bank financial institutions.

Photo courtesy of fabio

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financial inclusion, poverty alleviation, remittances, rural development