State-owned Development Bank of the Philippines (DBP) and the Philippine Stock Exchange, Inc. (PSE) urged on Thursday small-and-medium enterprises (SMEs) to join the stock market to improve their competitiveness and financial capability.
In line with this, the two agencies conducted recently the first of a series of fora at the DBP office in Makati City and the event was participated in by officials of DBP-assisted enterprises.
DBP Chairman Jose Nuñez Jr. said they are committed to continue supporting the SME sector through the bank’s credit facilities.
“But as a development financial institution, the DBP has also the mandate to develop innovative financing facilities for the SME sector other than banking intermediation and to facilitate the development of the domestic capital market in general,” he said.
He added that they aim to capitalize funding for SMEs in the capital market in order to address the chronic lack of long-term credit.
Relatively, DBP President and chief executive officer Francisco Del Rosario Jr. said partnership with PSE on this endeavor “provides a practical way of creating a support environment for small entrepreneurs.”
“Behind this effort to embark on the public listing of SMEs is a serious drive to enhance their competitiveness, and financial capability,” he said.