Latest Breaking News On - Credit surety fund cooperative - Page 1 : comparemela.com
More financing options for MSMEs
visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
Loans disbursed by credit surety funds hit P6 9B at end-2020
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
BSP Governor Benjamin E. Diokno (Credit: BSP photo)
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said that as of end-March this year, there are 55 CSFs nationwide and 14 are registered with the Cooperative Development Authority (CDA).
By end-2021, Diokno said the number of CSFs will expand by another 15 to 70. “At least 15 more CSFs are expected to be registered by year-end with the rest likely to complete the process next year,” he said during his weekly online “GBED Talks”.
MSME loans released via CSF started with only P36.9 million in 2009 to P2.08 billion by 2015, the same year the BSP’s CSF program became a law as Republic Act No. 10744 or the Credit Surety Fund Cooperative Act which enabled the creation and organization CSF cooperatives to manage and administer credit surety funds for member-cooperatives or NGOs and MSMEs.