Working together on
microfinance and microinsurance
microfinance and microinsurance
As we all know, the coronavirus crisis also had devastating consequences in the South. In the Philippines, not only was there the coronavirus crisis to contend with, but people had to deal with Typhoon Goni as well. That’s why BRS decided in February 2021, together with microfinancing institution OnePuhunan, to grant a loan of EUR 1.5 million to 6,500 enterprising Filipino women.
BRS Microfinance Coop granted a loan of 1.5 million euros to One Puhunan in the Philippines in February 2021. OnePuhunan is a young microfinancing institution that was launched in 2014. The institution focuses primarily on enterprising women. Loans range between 60 and 1,000 dollars for retail and crafts. The women borrow mainly through solidarity groups.
2020 was a difficult year for One Puhunan and its customers. Not only the coronavirus crisis but also Typhoon Goni caused repayment problems. Together with the other investors, BRS Microfinance Coop granted a postponement of repayment for its previous loan in 2020. The involvement of the principal shareholder CreditAcces SEA B.V. ensured additional stability in peak coronavirus crisis times thanks to a strengthening of the capital.
Following the repayment of the previous loan, BRS Microfinance Coop retains full confidence in this organisation. With this third loan of 1.5 million euros, One Puhunan can meet the credit demand of over 6,500 women.
