Philippines : Fostering Women's Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces Project

Nonsovereign Project | 52068-001

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

Project Details

  • Project Officer
    Doukidis, Doukas
    Private Sector Operations Department
    Request for information
  • Approval Date
    21 August 2018
  • Country/Economy
    Philippines
  • Sector
    • Finance
Project Name Fostering Women's Empowerment Through Financial Inclusion in Conflict-Impacted and Lagging Provinces Project
Project Number 52068-001
Borrower / Company ASA Philippines Foundation, Inc.
Country / Economy Philippines
Location Nation-wide
Type or Modality of Assistance
3692 Loan Ordinary capital resources USD 10.00 million Approved
3692 Loan Ordinary capital resources USD 10.00 million Approved
3692 Loan Ordinary capital resources USD 10.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Finance / Inclusive finance
Gender Gender equity
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Doukidis, Doukas
Project Sponsor(s)
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).
Safeguard Categories
Environment FI-C
Involuntary Resettlement FI-C
Indigenous Peoples FI-C
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.

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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.

Related Publications

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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.

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  • 21 Sep 2022 | Video

    Microfinance: Empowering Women to Rebuild Lives After Crisis

    ADB'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.