Swedfund, Sweden's development finance institution, has committed $15 million to Navegar Fund III, a private equity fund focused on supporting the growth of mid-sized companies in the Philippines.

The investment aims to help local businesses expand operations, strengthen governance and create more productive jobs, particularly in sectors such as healthcare, food distribution and logistics.

Swedfund said many Philippine small and medium-sized enterprises continue to face challenges in accessing long-term financing despite the country's sustained economic growth in recent years. The institution noted that about 70 percent of the country's workforce remains employed in the informal sector, where jobs often lack stability, social protection and opportunities for skills development.