Citi Philippines grants $20m loan to financially assist low-income women entrepreneurs

ASA Philippines Foundation supports 2 million women across the country.

Citi Philippines has given a $20m loan to ASA Philippines Foundation aimed at providing financial assistance to low-income women for entrepreneurial ventures in the country.

The loan is expected to support nearly 70,000 women entrepreneurs in the Philippines, the bank said in a press release.

The financing for this loan was structured under the Global Inclusive  Finance Framework risk-sharing facility with the United States International Development Finance Corporation (DFC).

ASA Philippines Foundation is said to be a non-profit, non-stock financial institution that serves over 2 million women entrepreneurs through more than 1,600 branches across 82 provinces in the country.

The foundation also provides an array of services to their clients including burial  assistance, college or university scholarship programs, disaster relief assistance and  rehabilitation, business development training and marketing support, medical missions,  child feeding and out of school youth training for the families of their beneficiaries.