Rural Microenterprise Finance Project

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Rural Micro-Enterprise Finance Project

Rural Microenterprise Finance Project

With funds from the Asian Development Bank and IFAD, the project provided access to credit and other financial services for some of the country’s poorest people. The objective, in accordance with the priorities of the Government of the Philippines, was to create employment opportunities and increase the incomes of extremely poor people in rural areas.

The Grameen Bank approach proved to be an effective alternative to formal financial institutions in the Philippines, providing credit and savings facilities for rural poor people, particularly women, through self-help groups. The project:

  • increased availability of credit through self-help groups for investment in microenterprises to generate income and employment
  • expanded formation and strengthening of self-help groups
  • promoted savings schemes
  • strengthened the groups’ institutional capacity to provide simple and accessible financial services
  • helped develop a self-sustaining financial system by establishing a nationwide network on the Grameen banking model, comprised of NGOs, local banks, cooperatives, foundations and other organizations
  • promoted policy reform to stimulate growth and development of financial services for poor people

Source: IFAD

Status: Closed
Approval Date
18 April 1996
1996 - 2002
Credit and Financial Services
Total Project Cost
US$ 64.83 million
IFAD Financing
US$ 14.72 million
Co-financiers (International)
Asian Development Bank US$ 20.01 million
Co-financiers (Domestic)
Domestic Financing Institutions US$ 15.69 million
Beneficiaries US$ 5.12 million
National Government US$ 9.29 million
Financing terms
Highly Concessional
Project ID

President's reports

Project design reports

Supervision and implementation support documents

Environmental and social impact assessment

Final environmental and social management framework

Interim (mid-term) review report

Resettlement action framework

PCR digest

Special study

Project list

Audit and Financial Statements

Project completion report