Interim Evaluation

Over 160 microfinance institutions have adopted the Grameen-style approach to banking in the Philippines. They lend at commercial rates that cover all costs and allow for profit. They have provided up to

436 000 clients – 98 per cent of them women – with access to financial services. Over 92 000 small groups, 15 000 centres and 450 branches act as intermediaries in supplying credit totalling US$ 34.1 million. Loan repayment rates

average 96.2 per cent. The impact on income, assets, the empowerment of women and the development of small businesses amongst the rural poor is notable. Findings from an Asian Development Bank impact survey suggest that,

thanks to the project, clients’ incomes have increased by over 28 per cent, food expenses by over 23 per cent and schooling expenses for children by over 19 percent. In addition, 95 percent of beneficiaries report having more

confidence in themselves to conduct business. In spite of the success of the project, MFIs need however, to increase coverage of the very poor without compromising the economic viability and sustainability of themselves and the project.