The first tranche of the credit facility amounting to $10 million will extend loans to over 25,000 women-entrepreneurs owning small businesses, which suffer from the economic impact of the (COVID-19) pandemic.
STATE-run Development Bank of the Philippines will forge ahead with its financial inclusion initiatives this year by tapping financial technology companies, non-bank financial institutions, as well as rural banks.
Supported by J.P. Morgan, the program will provide immediate relief and longer-term recovery support to 3,500 women entrepreneurs running microenterprises.
Overseas Filipino Workers in UAE Can Now Send Money Home for Free, Thanks to Gcash-Denarii Cash Tie-Up
Both Denarii Cash and GCash share the same commitment of offering convenient and affordable financial services to Filipinos.
While the COVID-19 pandemic has increased usage of digital payments, there has been an observed increase in attempts at scams and financial crimes.
Hong Kong Alt-Lender Oriente Raises $50m as It Looks to Step up Efforts in a Highly Competitive Sector
Oriente will use the money to boost its growth in existing markets and further new developments in places like Vietnam.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno championed the use of e-payments amid the Luzon-wide, enhanced community quarantine (ECQ) to minimize face-to-face transactions and prevent the spread of COVID-19.
UBX, the fintech company of Union Bank of the Philippines (UnionBank), recently started deploying a rapid and remote mobile-enabled ATM solution in response to COVID-19, as part of its i2i platform.
Landbank’s lending program dubbed I-RESCUE provides credit and loan restructuring, the state-run lender said in a statement on Wednesday.