Where We Work
The Philippines
In the Philippines, over 43.1 million people live in poverty, with 14.4 million people unable to access safe drinking water and 17.3 million people undernourished. The total market for microfinance in the Philippines is estimated at five million households. Currently, microfinance institutions serve approximately 1.4 – 1.7 million clients, leaving a large unserved market of approximately three million households.
As the world’s biggest importer of rice, the global food crisis has also had a severe impact on the Philippines. Demand for exports to the United States and Europe has also fallen, causing job losses, with many people forced into informal or part-time work.
Small and medium-sized enterprises make up 99.6% of total businesses and employ 70% of the workforce in the Philippines. By invigorating small businesses, microfinance empowers many Filipinos living in poverty – helping them increase their income, build up assets, prepare for emergencies and afford education, health, and housing. Microbusinesses can also generate much-needed employment in local economies.
Opportunity International Australia currently supports three partners in the Philippines: ASKI, TSPI and TSKI, through our Philippines Renewal Program. The two year program has twin goals: improving the sustainability of microfinance and other anti-poverty services to the poor, and broadening their social impact among some of the poorest families and communities in the Philippines.
Latest reports: To read the latest progress report for the Philippines, please click here.
Read some stories from the Philippines