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BSP Cites IGLF Contribution to MSME Growth

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Photo shows (from left) Monetary Board Member and Chairman of the Board of Judges Armando L. Suratos, IGLF Chief Executive Officer Benel D. Lagua, DBP President and Chief Executive Officer Gil A. Buenaventura, and BSP Governor and Monetary Board Chairman Amando M. Tetangco, Jr.

 

The Industrial Guarantee and Loan Fund (IGLF) was recently awarded as an outstanding program partner of the Bangko Sentral ng Pilipinas (BSP) in recognition of its commitment to provide financial support to further the development of  micro, small and medium enterprises through the Credit Surety Fund (CSF).  The awarding was made during the recent BSP Stakeholders Awards Ceremony and Appreciation Lunch held last July 16.

The IGLF is one of the donor institutions to the CSF, a credit enhancement scheme developed by the BSP which aims to increase the credit worthiness of MSMEs that are experiencing difficulty in obtaining loans from banks due to lack of acceptable collaterals, credit knowledge, and credit track records.

With the state-owned Development Bank of the Philippines (DBP) as fund administrator, the IGLF is supervised by an inter-agency committee chaired by the Secretary for Socio-Economic Planning and National Economic and Development Authority Director General Arsenio Balisacan.

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