ADFIAP welcomes 2 new members

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Upon approval by the Board of Directors during their 74th Meeting in Thimpu, Bhutan, ADFIAP welcomed in its roster two (2) new members – People’s Credit & Finance Corporation (PCFC) and Avantage Venture – bringing the total number of ADFIAP members to 131 in 45 countries and territories.

Philippine-based PCFC was established by virtue of Memorandum Order 261 and Administrative Order 148 to provide affordable credit to the marginalized sector. Republic Act 8425 of 1998 or the Social Reform and Poverty Alleviation Act further strengthened the role of PCFC as the lead government entity specifically tasked to mobilize resources for microfinance services for the exclusive use of the poor. Following its mandate to provide the poor access to credit and other microfinance services to uplift their economic status, PCFC wholesales short, medium and long-term investment loans to accredited microfinance institutions (MFIs). These are rural and cooperative banks, thrift banks, non-government organizations and cooperatives that implement credit assistance programs using any proven microfinance lending methodology to finance livelihood projects that can augment the income of targeted poor clients.

Hongkong-based Avantage Ventures was founded by Chandran Nair and Yvonne Li. It is a boutique investment and advisory firm fostering sustainable development by promoting investments in social ventures that effect positive social and environmental change while demonstrating financial viability. The firm’s core mission is to create a marketplace for social capital by addressing the information and funding gaps in the impact investing industry.

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