US$44.4 million ADB support for small and medium enterprise development in Philippines.

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M2 PRESSWIRE-5 October 2005-ADB: US$44.4 million ADB support for small and medium enterprise development in Philippines(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:05102005 MANILA, PHILIPPINES - The Asian Development Bank (ADB) will support the development of small and medium enterprises (SMEs) in the Philippines through an assistance package approved comprising a US$25 million loan, a partial credit guarantee facility of about $18.4 million, and an equity investment of up to $1 million.

The SME assistance is part of a pipeline of projects endorsed by ADB's Board of Directors in July for consideration during 2005-2007 under a lending program that could range from zero to $1.5 billion, depending on progress on sector reforms and fiscal consolidation. The...