The Asian Development Bank (ADB) has signed a $30 million loan to Fuse Financing Inc. to help expand access to credit for micro, small and medium-sized enterprises (MSMEs) through a digital lending platform. The financing will boost support for women-owned enterprises and promote inclusive growth in the Philippines.
The loan will promote the use of digital technologies in offering financing to underserved and unserved segments of the Philippine population, especially in hard-to-reach rural areas. Access to finance remains one of the most persistent barriers for local businesses, particularly women-owned MSMEs, which continue to face more restrictive lending terms and fewer tailored financial products.
“Supporting MSMEs to make them part of the broader value chain is key to achieving sustainable and inclusive growth in the country,” said ADB Philippines Country Director Andrew Jeffries. “MSMEs are an important segment of the local economy—employing over 60% of Filipino workers and contributing more than a third to the country’s gross domestic product. We are pleased to support this initiative that will boost MSMEs’ contribution to economic growth.”
Fuse, the lending arm of the Philippines’ largest e-wallet provider GCash, will allocate 60% of the loan proceeds to help fund women-owned MSMEs and will offer financing to MSMEs located in provinces with high poverty incidence. The company will provide non-collateralized loans to farmers, market vendors, sari-sari (convenience) store owners, and other MSMEs—including first-time borrowers—to help them build their credit history.
ADB will also provide up to $125,000 in technical assistance to help Fuse develop tailored financial products and deliver financial and digital literacy training for women, especially those with limited formal education. This aligns with ADB’s broader push for digital finance and inclusion across Asia and the Pacific.
Additionally, the Mastercard Impact Fund will provide $150,000 as a performance-based incentive to help Fuse scale up its formal MSME portfolio, including support for new women entrepreneurs.
Fuse is wholly owned by Mynt, which is more widely known as Globe Fintech Innovations Inc. Globe Fintech is controlled by Ayala Corporation through its investment in Globe Capital Ventures and AC Ventures Holding. In 2024, more than 60% of Fuse’s MSME clients were first-time borrowers, underscoring its role in broadening financial access locally. Nearly 60% of its portfolio supports women-owned MSMEs, and young adults aged 23 to 35 account for nearly 60% of its borrowers.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
