Asialink Finance Corporation (AFC), one of the leading financing companies in the Philippines, and the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group, have sealed a partnership involving a $130 million investment, with Paulton & Company acting as Asialink’s financial advisor to this transaction.
This partnership will empower AFC, Global Dominion Financing Inc. (GDFI), and South Asialink Finance Corp. (SAFC) to expand their lending capacity for micro, small, and medium enterprises (MSMEs), allocating at least 60% of the funds to support women-owned or women-led businesses. For 27 years, Asialink has been driving economic growth by supporting MSMEs as it recognizes their role in reducing poverty and creating more job opportunities for Filipinos.
“Our partnership with IFC marks a significant milestone in our mission to empower MSMEs and drive inclusive economic growth,” said Robert B. Jordan, Jr., founder and CEO of Asialink Finance Group of Companies. “This collaboration will not only expand our lending reach but also enable us to bring our financial solutions to more entrepreneurs and local businesses across the country. By addressing the financing gap, particularly for women-led MSMEs, we are confident that this partnership will create lasting economic impact, foster gender equity in entrepreneurship, and further contribute to the growth and resilience of the Philippine economy.”
According to the Asian Development Bank (ADB)1, many Filipino female entrepreneurs and business owners face challenges in starting and growing businesses due to difficulties securing capital. The MSME sector has been a crucial support system for these women, with a significant portion of enterprises being women-led, highlighting the sector’s resilience and contribution to the economy.
Asialink is set to expand nationwide, with plans to open more branches by 2025 across Visayas and Mindanao regions. Building on its support for 20,214 MSMEs last year, with 12,048 specifically provided to women, its partnership with IFC will boost its growth and outreach.
For IFC, the partnership will support their goal to drive financial inclusion in the country. Furthermore, the company is hoping to inspire other companies and institutions to support the MSME sector.
“Over the years, Asialink has been a driving force in empowering businesses across the Philippines, fostering growth and resilience in the SME sector. However, we recognize that many small businesses, particularly in underserved regions, still face significant barriers in accessing reliable and quality financing,” said Mr. Jordan, Jr. “With IFC’s support, we are poised to break down these barriers and expand our reach, ensuring that more entrepreneurs across the country gain the financial tools they need to thrive and contribute to the nation’s economic progress.”
The success of this collaboration highlights the shared commitment of Asialink and IFC to stimulate economic growth and elevate the availability of funding for the MSME sector in the Philippines.
To know more about Asialink’s partnerships and milestones, visit https://www.asialinkfinance.com.ph or follow them on Facebook at https://www.facebook.com/AsialinkPhilippines?mibextid=ZbWKwL.
