The journey taken by Oikocredit in the Philippines over the past 25 years forms part of its overall story in building a global oikos ‒ a community of lasting partnerships with a common inspiration: a vision of a just society where people have equitable access to resources and are able to create a life of dignity.
Unknown to many, from 1983 to 1988, Oikocredit implemented its program in the Philippines through the services of a program officer based in Australia. The decision to set up an office in the country in 1989 was taken to foster a better understanding of the development challenges faced by the poor. And because Oikocredit recognizes the critical role partners play in achieving its mission, its presence in the country helps to ensure the careful selection of and close contact and proximity to partners, the regular monitoring of projects, the provision of institutional support to partners and achieving a positive social impact.
With lending anchored on fair financing, financial products have been designed and adapted to meet the needs of partner groups. From first lending exclusively in hard currency, Oikocredit started to offer loans in pesos to help partners recover from the devastating impact of the 1997 Asian financial crisis. Credit lines (generally shorter in duration) are now offered based on the business requirements of partner organizations.
Read more about Oikocredit's operations in the region on where we work