Philippine-based apex microfinance institution, the People’s Credit and Finance Corporation (PCFC), has rejoined ADFIAP as a member. PCFC President & CEO, Mr. Edgardo Generoso received the plaque of membership in a simple ceremony during his visit to the ADFIAP Secretariat on February 15, 2012. In rejoining the Association, PCFC aims to learn best practices in microfinance activities, avail of the capacity-building program offerings of the Association, and network with other ADFIAP members.
PCFC, www.pcfc.ph/ was established under Republic Act 8425 of 1998 or the Social Reform and Poverty Alleviation Act which 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. PCFC wholesales short, medium and long term investment loans to accredited microfinance institutions (MFIs), including rural banks, cooperative banks, thrift banks, non-government organizations (NGOs) and cooperatives that implement credit assistance programs using proven microfinance lending methodology to finance livelihood projects that can augment the income of targeted poor clients.