Microfinance NGOs Act

Microfinance NGOs Act, Republic Act No. 10693, approved by the President on November 3, 2015, recognized the indispensable role of nongovernment organizations (NGOs) in fostering local enterprise development and social entrepreneurship, including the provision of microfinance services to microenterprises. In pursuance of this policy, the State shall support and work in partnership with qualified NGOs in promoting financially inclusive and pro-poor financial and credit policies and mechanisms, such as microfinance and its allied services.