Daily TribuneAustralia backs Filipina entrepreneurs with first impact loan, targeting SME finance gaps and gender equality at a recent Manila’s global investment summit.
Photo courtesy of SBS
Too many Filipina entrepreneurs still face barriers accessing capital.
That is why the Australian government, through Australian Development Investments, made a $3 million (P172 million) loan to ARQ SME Finance, a female-led lender, to bridge finance gaps for small businesses in the Philippines.
The loan, ADI’s first impact investment in the Philippines, was announced yesterday by Australia’s Ambassador to the Philippines, Marc Innes-Brown PSM, at the 2X Global Summit in Manila.
The 2X Global Summit is the leading international forum on impact investment for greater gender equality, and has brought together over 100 leaders from government, finance, and the philanthropic sector.
“The Philippines is home to extraordinary Filipina entrepreneurs, but many face barriers when they seek funds to grow their businesses,” said Innes-Brown.
“Australia is proud to partner with ARQ to help create more business opportunities for women and build economic growth that benefits women and men alike.”
ADI is the Australian Government’s flagship impact investment fund. Impact investment is a global movement that is using public and private capital to help reduce poverty and inequality.
The loan expands Australia’s existing commitment to help more Filipinas participate in the workforce or grow their own businesses, through the Investing in Women program — an Australian initiative that is working to lift women’s economic equality in the Philippines and the region.
ARQ serves the “missing middle,” firms too big for microfinance, too small for banks.
