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According to the Bank’s website, the project consists of a senior unsecured loan in Philippine peso equivalent of up to $10,000,000 to the Center for Agriculture and Rural Development, Inc. (CARD) for the Promoting Access to Finance for Low-Income Microborrowers Project in the Philippines.
ADB’s loan to CARD will assist with implementing measures under a gender action plan (GAP) in the Philippines to further expand access to credit for women.
Environment: FI-C
Involuntary Resettlement: FI-C
Indigenous Peoples: FI-C
The business activities of CARD have minimal or no adverse environmental impacts.
The on-lending activities of CARD are unlikely to entail involuntary resettlement impacts. CARD offers loans to micro-borrowers engaged in backyard agriculture and micro to small enterprises providing goods and services within their communities.
Loan (Ordinary capital resources): USD 10.00 million
Center for Agriculture and Rural Development, Inc. - CARD is a nonstock, nonprofit organization established as a nongovernment organization (NGO). It is part of the CARD Mutually Reinforcing Institution (MRI) group of companies and is the flagship business of the group.
CARD has grown into one of the country’s most prominent MFIs. It provides access to credit for microenterprises in the Philippines including in the remote provinces of Visayas and Mindanao. It offers microloans to support the livelihood activities of low-income and underserved women and extreme poor micro borrowers. In recent years, CARD has started providing loans to the spouses of female borrowers working in the agriculture sector.
No contacts available at the time of disclosure.
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.adb.org/forms/request-information-form
ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals
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.