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Philippines' first-ever gender bonds issuance

ASA Philippines Foundation, Inc. (ASA), the country’s leading microfinance non-government organization, successfully raised PHP5 billion from the issuance of 5-year fixed rate corporate notes. The proceeds of the issue will be used for working capital purposes to expand ASA’s lending business, which wholly targets women as principal borrowers to empower… ....

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Microfinance regulator eases compliance requirements for NGOs


BusinessWorld
May 11, 2021 | 8:27 pm
FREEPIK
THE Microfinance NGO Regulatory Council (MNRC) said it has eased the requirements for non-government organizations (NGOs) engaged in such lending in order to avert any failure to comply with the law governing the industry.   
Memorandum Circular No. 1 Series of 2021 detailed prudential relief measures such as the relaxation of the P1 million minimum fund balance requirement, the minimum 50% rating in financial performance indicators, and the minimum 60% weighted average rating for all performance indicators.
“The MNRC recognized the request of the microfinance industry for prudential relief measures aimed at encouraging accredited (microfinance) NGOs to concentrate their operations and resources in the continuous delivery of microfinance services during this extraordinary situation,” the MNRC said in the memorandum circular, published Monday.  ....

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