Philippines : Fostering Women's Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces Project
Multi-tranche loan/investment in bonds, up to $30 million1 (in PHP equivalent) for supporting micro-housing and business-enterprise micro-loans in conflict affected and poorer parts of the Philippines
Private Sector Operations Department
Request for information
21 August 2018
|Project Name||Fostering Women's Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces Project|
|Borrower / Company||ASA Philippines Foundation, Inc.
|Country / Economy||Philippines
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Private sector development
|Sector / Subsector||
Finance / Inclusive finance
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Private Sector Financial Institutions Division|
|Responsible ADB Officer||Doukidis, Doukas|
|Description||Multi-tranche loan/investment in bonds, up to $30 million1 (in PHP equivalent) for supporting micro-housing and business-enterprise micro-loans in conflict affected and poorer parts of the Philippines|
|Objectives and Scope||ADB's proposed loan to ASA Philippines Foundation, Inc. (ASA) is for the Fostering Women's Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces Project in the Philippines. ADB's facility will be targeted at women borrowers, most of whom own and manage microenterprises. The financing proceeds will be deployed in the lagging and conflict-impacted provinces of Visayas and Mindanao, and the remote and less penetrated parts of Luzon.|
|Status of Development Objectives||In progress. Development indicators to be tested in 2025. As of end 2021, ASA meets 90% of its development indicators.|
|Status of Operation/Construction||Operation. Loan has been partially disbursed. Further disbursements are ongoing.|
|Linkage to Country/Regional Strategy||The project is aligned with the Philippine Development Plan, 20172022 objectives of encouraging efficiency and innovation in microfinance and strengthening the effectiveness of financial inclusion initiatives by focusing on the efficient delivery of microfinance products and services for Filipinos. ADB's funding would provide (i) easy and affordable access for women to finance microenterprises; (ii) finance for improving living conditions of ASA's women micro borrowers_specifically through loans targeted for micro-housing and water sanitation needs; (iii) widening financial inclusion and lower regional disparities in terms of access to finance; and (iv) revival of economic activity in the conflict-impacted parts of southern Philippines (Mindanao).|
|Summary of Environmental and Social Aspects|
|Environmental Aspects||ASA (i) applies ADB's prohibited investment activities list; and (ii) exclude activities with category A and B environment and social safeguard impacts; and (iii) ensure that investments using ADB funds comply with ADB's Safeguard Policy Statement and abide by applicable national laws and regulations, including labor laws, pursuant to ADB's Social Protection Strategy; and (iv) take measures to comply with internationally recognized core labor standards. ASA confirms this in its periodic report to ADB.|
|Involuntary Resettlement||ASA's loans have minimal or no adverse environmental impacts, and are unlikely to entail impacts on involuntary resettlement and indigenous people. ASA's financing program is not expected to result in micro-loans that will finance activities that may be categorized A or B for environment, involuntary resettlement and indigenous peoples.|
|Indigenous Peoples||ASA's loans have minimal or no adverse environmental impacts, and are unlikely to entail impacts on involuntary resettlement and indigenous people. ASA's financing program is not expected to result in micro-loans that will finance activities that may be categorized A or B for environment, involuntary resettlement and indigenous peoples.|
|Stakeholder Communication, Participation, and Consultation||Consistent with the Agreement Establishing the Asian Development Bank (the Charter), ADB proceeded with the proposed assistance after establishing that the Government of the Philippines has no objection to the proposed assistance to ASA.|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||12 Apr 2018|
|Credit Committee Meeting||28 Jun 2018|
|Approval||21 Aug 2018|
|Last PDS Update||07 Oct 2022|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|Title||Document Type||Document Date|
|Fostering Women's Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces Project: Report and Recommendation of the President||Reports and Recommendations of the President||Jul 2018|
|Fostering Women’s Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces: Initial Poverty and Social Analysis||Initial Poverty and Social Analysis||Jun 2018|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Microfinance: Empowering Women to Rebuild Lives After CrisisADB's partnership with ASA Philippines—a microfinance institution— facilitates the recovery of communities from conflict and the COVID-19 pandemic. It also helps break gender barriers by empowering Filipino women to engage in income-generating activities.