Philippines 4th In Microfinance Ranking
EIU Report
By CHINO S. LEYCO
October 26, 2012, 5:35pm
The Philippines has ranked fourth in an annual global survey on
microfinance business environment, based on the Economist Intelligence
Unit's (EIU) report, citing the country's stable market.
According to the report, the country scored 63.3 points, up by 4.8
points, or two notches higher compared with last year's Global
Microscope on the Microfinance Business Environment report.
The Philippines ranked fourth out of 55 countries in an annual global
survey, trailing behind Peru (79.8 points), Bolivia (71.8 points), and
Pakistan (67.4 points).
The Microscope 2012 survey was conducted in the 12 months ending in June.
EIU explained the rankings were based on regulatory framework and
practices, in which the Philippines was placed on top along with Peru;
and the supporting institutional framework, wherein the country ranked
15 along with Brazil, Nicaragua, and Uruguay.
The survey also noted the "stability" of microfinance markets, if they
are vulnerable to any political shocks.
"The Bangko Sentral ng Pilipinas continues to promote an enabling
environment for microfinance, seeing it as one of its key poverty
reduction efforts," the report read.
The survey has also recognized key efforts of the BSP such as increasing
the ceiling for microfinance loans to P300,000 from P150,000 and the
lower house's approved measure allowing foreign ownership of up to 40
percent in rural banks.
The proposed measure, however, remains pending in the Senate.
In January, the BSP approved a microfinance loan called "microfinance
plus" that microenterprises and small businesses can avail of to fund
their expanding operations, allowing borrowers to take out a maximum of
P300,000 to fund their growing business
Microfinance, generally, has originally intended to mean financing for
microenterprises or small livelihood activities but the BSP has since
expanded the loan products to include microfinance housing, micro-agri
loans, micro-insurance and micro-deposits.
For all loans, it starts with P150,000 up to a maximum of P300,000.
Currently, there are 202 microfinance institutions operating in the
Philippines.
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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
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