ADFIAP, ECO-Asia organize water finance consultative meeting

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ADFIAP and ECO-Asia, an initiative of USAID, organized a consultative meeting on January 29, 2009 at the Dusit Thani Hotel in Makati, City, Metro Manila, to discuss the proposed micro-water financing program of Peoples Credit and Finance Corporation (PCFC), an apex microfinance institution (MFI) in the Philippines, as part of ADFIAP’s project on developing a water financing strategy for DFIs in Asia funded by ECO-Asia/USAID.

The consultation was also part of a series of earlier meetings of the three signatories to the Memorandum of Agreement (MoA), i.e., PCFC, the Local Water Utilities Administration (LWUA) and the Rural Bankers Association of the Philippines (RBAP), to work together to provide financing to small water service providers in urban and rural areas in the country. It is envisioned that this microfinance program for the water sector can be replicated in other countries in the region to address water access for the poor.

35 senior officials from PCFC, LWUA, RBAP and the National Anti-Poverty Commission as well as the MFI’s loan and planning officers attended the meeting and threshed out the respective roles of the involved institutions, the modality of the water microfinance program, and the proposed next steps of the program. The group agreed to finetune the proposed micro-water financing program and to eventually seek final approval of the lending facility.

For more details of the event and the water finance project, please visit the ECO-Asia website at https://usaid.eco-asia.org and the ADFIAP website at https://www.adfiap.org or email the ADFIAP Secretariat at inquiries@adfiap.org

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