The ADFIAP Consulting (AC) met with Ms. Natasha I. Grokh, Economic Officer of the American Embassy Manila, at the ADFIAP Headquarters on February 24, 2012 to discuss MSME (micro, small and medium enterprise) financing in the Philippines, the constraints to access to finance, and the proposed interventions towards financial inclusion.
Ms. Gorkh is working on a report covering SME loans, specifically the “missing middle”. Her research work aims to identify appropriate interventions to bridge the funding gap resulting from the difficulty of SMEs in securing loans from formal channels of credit despite the claim of banks that they have ample funds for lending to the sector. The diagnostics and constraints analysis study aims to provide a guide in developing a focused strategy intended to enhance the impact of the U.S. Government’s development efforts in the Philippines.
AC Group Head, Ms. Cora Conde provided Ms. Gorkh with an overview of ADFIAP’s SME access to finance advocacy and initiatives as well as statistics on SME finance in the Asia-Pacific region.