ASA Philippines Foundation Showcases Impactful Home Financing Solutions at the 2nd Socialized Housing Summit
- 25
- Mar
ASA Philippines Foundation, one of the giant microfinance institutions in the Philippines, presented its innovative Home Financing program at the 2nd Socialized Housing Summit, showcasing its contributions to addressing the housing needs of low-income communities. The summit, organized by the Ateneo Center for Social Entrepreneurship (ACSent) and Social Enterprise Development Partnerships Inc. (SEDPI) on March 18-19, 2024, at the Ateneo de Manila University, provided a platform for critical discussions on social housing initiatives in the Philippines.
Kamrul Tarafder, ASA Philippines’ Chief Executive Officer, highlighted the foundation’s significant reach, operating in 100% of the provinces and with extensive penetration in municipalities and cities throughout the Philippines. With over 1700 branches nationwide, the organization has a profound impact on providing access to financial services to marginalized communities.
Tarafder presented the Foundation’s Home Financing (HomFin) program, designed to address the dire need for affordable housing solutions. The HomFin program has disbursed over 12 billion PHP, significantly affecting the lives of numerous Filipinos. By offering non-interest-bearing loans and other subsidiary loans, ASA Philippines has displayed its commitment to financial inclusion and its innovative approach to socialized housing.
ASA Philippines has also demonstrated impressive financial performance, showcasing the Foundation’s sustainable growth. The financial position of the organization reflects a robust balance sheet with strong capital assets and an operational self-sufficiency that exceeds industry standards. Such financial health allows the Foundation to continue its crucial work in community services, providing extensive support from burial assistance to scholarships and business development programs.
A notable component of ASA Philippines’ presentation was its successful track record in debt repayment, including a groundbreaking ₱5 billion Gender Bond in 2023 and strategic partnerships with institutions like ADB and Citi. These achievements underscore the organization’s reputation as a reliable and innovative financial institution dedicated to sustainable development and economic inclusion.
Tarafder shared inspiring before-and-after photos of beneficiaries who have received HomFin funding, transforming not only their living conditions but also their lives. One striking story was that of Lourdes Otilano from Guinobatan, Albay, who, with the help of a HomFin loan, improved her family’s living conditions, demonstrating the program’s tangible impact.
Another impactful story was of Agustina Completo from Tabaco City, Albay, whose new home construction was funded through the HomFin program, illustrating the program’s reach and effectiveness. Stories of individuals like Lucita Boytiquel and Marissa Pisay, who received HomFin funding and ASA grants, show the organization’s dedication to uplifting lives and building resilient communities.The presentation concluded with a call to action for other organizations and individuals to engage in similar transformative work. Tarafder’s insights and the success stories shared provided a beacon of hope and a model for addressing the housing crisis.