Inclusive Finance Development Program (Subprogram 1) (ADB-51309-001)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Philippines
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 19, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of the Philippines
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 474.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 474.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Feb 15, 2019

Disclosed by Bank Sep 19, 2018


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Project Description

According to bank documents, the Government of the Philippines recognizes that access to financial products and services is a key component of an inclusive economic growth agenda. But it also recognizes that despite having a strong, conducive regulatory environment for financial services, the Philippines still has a low level of financial inclusion. The proposed Inclusive Finance Development Program will support government efforts to increase financial inclusion in the country. The program is consistent with the Philippine Development Plan 2017–2022, the government’s 10-point socioeconomic agenda, and the Asian Development Bank (ADB) country partnership strategy, 2011–2016 for the Philippines; and is included in ADB’s country operations business plan, 2018–2020 for the Philippines.

Investment Description
  • Asian Development Bank (ADB)
Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main