Investment program launched to help women-led SMEs in Philippines

by Louella Desiderio (The Philippine Star), 20 Nov 2020

MANILA, Philippines — The Australian government and Macquarie Group Foundation have launched a program to help women-led businesses in the Philippines bounce back from the pandemic through investments.

Under the Macquarie-Investing in Women RISE Fund, the two parties would be working with two local investing partners – the Foundation for a Sustainable Society Inc. (FSSI) and InBestCap Ventures (InBest) – to provide investments to small and medium enterprises (SMEs) managed by women.

Macquarie is investing over P43 million under the partnership to expand the number of women-run SMEs that can receive funding to help them grow their business.

“The ambition is over the next 18 months to two years, we hope to get about 200 or more people in sustainable employment through this particular program, if not more,” Australian Ambassador to the Philippines Steven Robinson said.

He said the program is being implemented as women are seen to play a central role in the recovery from the pandemic.

“The Macquarie-Investing in Women RISE Fund will support and give a boost to women’s SMEs and help to build back better in the Philippines,” he said.

“Closing the gap between women’s and men’s access to capital will provide a significant boost to economic growth at a time when it is much needed.”

FSSI corporate secretary Christie Rowena Plantilla said SMEs can apply for financial assistance or technology transfer support under the program.

She said FSSI can also enter into a joint venture agreement with women-led businesses in need of more capital.

Women SMEs can tap a minimum of P100,000 under the program.

For her part, Benilda Ronquillo-Camba, board member and corporate secretary at InBestCap Ventures, said the amount to be provided to the SME through the investment company would depend on the need.

“We really look into growth plans and customize support based on that,” she said.

FSSI is a social investment organization committed to support the development of empowered and sustainable communities through social entrepreneurship.

InBestCap Ventures, on the other hand, is an impact investment company which aims to help SMEs and cooperatives grow.

To learn more or apply for the program, interested women-led or women-owned businesses can visit https://fssi.com.ph or inbestcap.com. – Pia Lee-Brago