The Development Bank of the Philippines (DBP) recently approved a P20-million clean revolving credit line to the ARDCI NGO Group to provide funds for relending to eligible sub-borrowers primarily for livelihood and other eligible projects.
ARDCI was established as a non-government organization (NGO) in 1998 to help uplift the economic status of disadvantaged sectors of society. Mirroring DBP’s objective of inclusive development, ARDCI provides financial services to the entrepreneurial poor engaged in micro-enterprises or small scale industries.
ARDCI currently supports more than 94,000 borrowers by financing their livelihood and business projects. By stimulating the growth and development of local businesseses, ARDCI continues to generate employment opportunities in the areas covered by the NGO’s operations. Based in Virac, Catanduanes, ARDCI counts a membership of more than 200,000.
DBP’s assistance to the ARDCI NGO Group is in line with the bank’s thrust to maximize its lending reach to support sustainable projects that generate jobs and spur business activity, especially in the manufacturing industry.