ADB cites weaknesses of microfinance sector
THE PHILIPPINES is one of the leading countries in microfinance policy and regulation in Asia but it still lags in terms of scale and reach to the poor, the Asian Development Bank (ADB) said. “Of the 21 countries with ADB support during 2000-2010, ADB’s efforts were effective in Cambodia, Pakistan, Philippines and Tajikistan, where notable improvements in the policy, legal, regulatory and supervisory frameworks were achieved,” ADB said in a report released yesterday…. “In contrast, Cambodia, Pakistan and the Philippines experienced rapid growth in assets, loan portfolio and borrowers, mainly due to more conducive policy and regulatory environments that promote the development of the sector,” it said.
