Bank of the Philippine Islands
Encouraging and supporting the Filipino entrepreneurial spirit is the most practical and effective way of helping our countrymen with limited resources. Making available the financial resources and training needed for managing home-based business enterprises can indeed generate employment and open livelihood opportunities for the less fortunate. This is the role of microfinance institutions (MFIs).
Since the establishment of BPI Foundation's Financial Assistance Line (FAL) for non-government organizations (NGOs) and cooperatives in 1989, BPI has been partnering with MFIs. These institutions are in the best position to handle microlending activities because they provide microentrepreneurs with access to formal financial markets.
The BPI Foundation has likewise organized financial literacy and credit responsibility seminars through the 'Show Me, Teach Me SME' Program (SME is short for small and medium enterprise) for entrepreneurs.
Today, BPI has a dedicated Microfinance Unit within its corporate banking division. It aims to look for ways to deepen the bank's involvement in developing microenterprises. BPI's Microfinance Program offers services to MFIs under four main components: wholesale loans for portfolio re-lending; developmental capacity-building loans through the BPI Foundation; business solutions in electronic cash management; and partnerships with local and international development-oriented organizations.
BPI remains committed to help microfinance institutions make their clients' growing businesses more productive and competitive. As microentrepreneurs increase their incomes so does government come closer to achieving its goal of alleviating poverty throughout the country.
