MABS Participating Banks Reach New Milestone
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The cumulative amount of microenterprise loans disbursed by MABS participating banks since 1999 reached the 3-billion peso mark (approximately US $60 million) in November 2003.
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Since 1999, the 114 bank units participating in the MABS Program have disbursed a total of PhP3.1 billion to more than 108,000 microentrepeneurs. The number of microdepositors has also increased by more than 194,000 depositors since MABS started working with the banks. Overall, microdeposit balances increased by more than PhP238 million (approximately US $4.3 million).
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