BSP, IFC Partner to Boost MSME Access to Credit

The Bangko Sentral ng Pilipinas (BSP) and the International Finance Corp. (IFC) have signed an agreement to jointly promote movable asset financing (MAF) in the Philippines.

- By KEISHA TA-ASAN

The deal aims to improve access to credit for micro, small and medium enterprises (MSMEs) and the agriculture sector.

"The BSP looks forward to working with the IFC to build a dynamic MAF ecosystem. With this, MSMEs and agri-enterprises can use their available assets to access financing for their working capital and other needs," BSP Governor Eli Remolona Jr. said.

Under the memorandum of understanding, the BSP and IFC will work together until 2027 to develop the country's movable finance market.