Wednesday, January 14, 2004
Plantersbank, IFC to launch SME Finance Best Practices Program
Planters Development Bank, the country’s largest private development bank and the World Bank’s private investment arm International Finance Corporation (IFC) recently formalized a partnership for the promotion of international best practices in small and medium enterprise (SME) finance in the Philippines.
This project will involve Plantersbank key lending and credit personnel and will also tap the international renowned provider of credit analytics and training tools Moodys KMV. Skills, processes and technologies will be cascaded by Plantersbank to other banks lending to SMEs through the Best Practices Workshop series later in the year.
In photo are Plantersbank chairman and CEO Jesus P. Tambunting (second from left) and Mr. Javed Hamid, Director of IFC for East Asia and the Pacific region, exchange handshakes after the signing of the memorandum of understanding in Makati. Witnessing the signing are Plantersbank executive vice president Anthony T. Robles, IFC country manager Vipul Bhagat and Cecile Balquedra, Plantersbank senior assistant vice president.