BSP, Parañaque City launch 44th CSF

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The Central Bank has launched the 44th the Credit Surety Fund (CSF) in partnership with Parañaque City to help cooperatives and micro, small and medium enterprises (MSMEs) in the local government gain access to bank credit, even without collateral. The Parañaque City government pledged to contribute P3 million to the CSF. As of end-August 2015, Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said, accumulated loans approved under the CSF Program nationwide have reached P1.91 billion, of which, P1.66 billion have already been released to 14,613 beneficiaries nationwide. The MSMEs that obtain loans from banks through the CSF would benefit from lower interest rates.

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