This document sets out the 'National Strategy for Microfinance' of the Republic of the Philippines. It describes the following aspects of the strategy:
* Vision: to have a viable and sustainable private micro (financial) market;
* Objective: to provide access to financial services to the majority of poor households and microenterprises by the year 2005.
The document lists the following principles which form the basis of the policy framework of this strategy:
* Greater role of the private sector/ MFIs in the provision of financial services;
* An enabling policy environment to facilitate the increased participation of the private sector;
* Market-oriented financial and credit policies;
* Non-participation of the government line agencies in the implementation of credit/guarantee programs.
The institutional framework of the strategy outlines the respective roles of MFIs, the National Government, the National Credit Council, the People's Credit and Finance Corporation, government financial institutions, commercial and other private banks, non-government institutions (NGOs) and donors.
It concludes by listing the strategies that will help in reaching the following goals:
* Provision of a policy environment that is conducive to the effective and efficient functioning of the financial market;
* The establishment of a market-oriented financial and credit policy environment that is conducive for the broadening and deepening of microfinancial services;
* Implementation of a capacity-building program for MFIs.
