Philippine Export-Import Credit Agency's (PhilEXIM) total loan releases grew more than three times during the first half at P159.08 million, up from P49.03 million the same period in 2003.
PhilEXIM president Eduardo Sergio G. Edeza said that the government financial institution is committed to extending credit and financing opportunities to small- and medium-sized enterprises (SMEs).
Supporting the administration's 10-point agenda, PhilEXIM is offering collateral-free financing programmes to capture a bigger market in the Metro Manila area.
"Here in Metro Manila alone, many are reluctant to avail themselves of financing programmes because of collateral requirements, but with the resolve of the government to respond to the needs of the SME groups through a broader and more relaxed credit access, the opportunities for financial growth and sustainability can be better addressed," Mr. Edeza said.
