BSP, IFC sign pact to boost MAF for MSMEs and agriculture

The Bangko Sentral ng Pilipinas (BSP) and International Finance Corp., a member of the World Bank Group, signed an agreement on March 17, 2025, to develop the country's movable finance market.

This collaboration aims to improve credit access for micro, small, and medium enterprises (MSMEs) and the agricultural sector by promoting movable asset finance (MAF), which allows borrowers to secure loans using movable assets such as inventories, receivables, and equipment.

According to a 2022 IFC study, finance involving movable assets in the Philippines is less than 5%, underscoring the need for increased loans secured by such assets.

The partnership will focus on regulatory reform, capacity building, and supporting service development until 2027 to build a dynamic MAF ecosystem.

BSP Governor Eli M. Remolona Jr. stated that this collaboration aligns with the National Strategy for Financial Inclusion 2022-2028, aiming for financial inclusion and resilience.

Deputy Governor Bernadette Romulo-Puyat emphasized that the team-up supports the bid for inclusive growth and financial resilience.