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People’s Credit and Finance Corporation

People’s Credit and Finance Corporation. PEOPLE’S CREDIT AND FINANCE CORPORATION (The Philippine Microfinance Institution). Brief History of Microfinance in the Philippines. 1960’s : Rural banks / Cooperatives extend small loans to farmers and fisher folks.

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People’s Credit and Finance Corporation

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  1. People’s Credit and Finance Corporation

  2. PEOPLE’S CREDIT AND FINANCE CORPORATION (The Philippine Microfinance Institution)

  3. Brief History of Microfinance in the Philippines • 1960’s : Rural banks / Cooperatives extend small loans to farmers and fisher folks. • 1970’s/80’s : Rural banks / development banks / government financial institutions provide highly subsidized credit to the rural poor. • Late 80’s : Microfinance as a new approach to credit delivery. • : NGO’s as potent partners of government.

  4. 1996 : Formation of microfinance coalition - NGOs and government agencies, like PCFC • 1997/2006 : National Strategy Framework for Microfinance • : Microfinance integrated into Philippine Banking System

  5. is the provision of a broad range of financial services such as deposits, loans, payment services, money transfers and insurance products to the poor and low – income households, for their micro – enterprises and small business, to enable them to raise income levels and improve their living standards. The maximum loan amount for microfinance loans is P150,000 (approximately US$3,000) MICROFINANCE:

  6. National Strategy Framework of Government for Microfinance • Greater role of private microfinance institutions (MFIs) in the provision of financial services • Enabling policy environment to facilitate increased participation of the private sector. • Market oriented financial and credit policies • Non – participation of government line agencies in credit program implementation

  7. People’s Credit and Finance Corporation Lead government entity specifically tasked to mobilize resources for microfinance services for the exclusive use of the poor Investment Loans : Principally for livelihood activities Micro – housing Micro – energy Micro – agri Institutional Loans : Capability building activities to strengthen partner MFIs

  8. PCFC Performance (As of September 2009) • Total loans releases - P 12.6 B • Investment - P 11.6 B • Institutional - P 1.0 B • Outstanding Balance -P 3.2 B • Total Resources -P 3.5 B • Client Outreach - 2.8 M • No. of MFI Partners - 164 • Collection Rate - 96%

  9. EFFECTS OF TYPHOON ONDOY AND PEPENG

  10. Option 1: Moratorium on amortization payments • Deferment of up to six (6) months on the amortization payments (principal and interest) • Option 3: Provision for Institutional Loans • Re – alignment of the usage of the previously approved Institutional facility for repairs and / or acquisition of office equipment damaged by typhoon. • Re – alignment of a portion of the Investment facility to Institutional facility. • Option 2: Provision for Special Loans • Special loans for refinancing with a term of up to four (4) years SCHEMES TO ASSIST MFIs AFFECTED BY CALAMITIES

  11. THANK YOU and HAVE A GOOD DAY!!!

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