PHILGUARANTEE broadens support to MSMEs, farmers and fisher-folk with strong BPI-BPI Banko partnership
State-owned Philippine Guarantee Corporation (PHILGUARANTEE) further enhanced its support towards the MSMEs, small farmers and fisher folks as it renewed its institutional partnership with the Ayala Group’s Bank of the Philippine Islands (BPI) and its microfinancing arm, BPI Direct Banko. Signing ceremonies were held at the PHILGUARANTEE Headquarters in Makati City last July 3, and was presided over by PCEO Alberto E. Pascual, BPI SVP Dominique R. Ocliasa, head of the Business Banking segment, and BPI Banko President Rodolfo K. Mabiasen, Jr.
PCEO Pascual highlighted the significance of the partnership with the BPI Group in credit supplementation support towards housing, MSMEs and agriculture. For his part, Mr. Ocliasa emphasized BPI’s steadfast commitment to empowering local entrepreneurs, highlighting their goal of expanding access to financial resources and providing tailored solutions for MSMEs to thrive in dynamic economic environments. Similarly, Mr. Mabiasen stressed the partnership’s focus on supporting small farmers and fisherfolk (SFFs) through BPI Direct Banko, emphasizing their objective to offer customized financial services that meet sector-specific needs.
Since its merger in 2019 under EO 58, PHILGUARANTEE’s cumulative housing, MSME/Priority and agriculture portfolio as of December 2023 has reached P237 Billion, and has supported more than 425,000 beneficiary MSMEs, home borrowers and SFFs, in line with its development financing mandate since then.
PHILGUARANTEE SVP Celso R. Gutierrez, head of the Priority Sectors Guarantee Group, lauded the strong collaboration, and is confident that the collaboration would contribute towards inclusive economic progress, emphasizing the creation of new avenues for growth and development.
Forged back in 2020 at the height of the pandemic, the partnership among PHILGUARANTEE, BPI, and BPI Direct Banko represents a pivotal step in promoting financial inclusion and resilience among MSMEs, small farmers, and fisher folk in the country. With the combined financing objectives, these institutions aim to achieve socio-economic impact, foster sustainable development and realize opportunities for growth especially in the regions.
From: Strategy Management and Communications Department
