ADB backs supply chain financing for small, medium enterprises

The Asian Development Bank on Thursday said supporting supply chain financing for SMEs could boost job creation and development for the entire industry.

There is a “huge financing gap” that obscures the optimization of trade gains, especially with smaller firms that are farther down in the supply chain, ADB Head of Trade and Supply Chain Finance Program

Steven Beck said.

“The past few decades, there is an enormous impact that international trade and supply chains have had on development in Asia and the alleviation of a lot of poverty in the region. But we’re not going to be able to maximize the gains from trade and supply chains in development if we aren’t able to fully include SMEs in that whole process,” Beck said.

“A study showed a $1.7-trillion gap years ago. We’re estimating that that’s increased to over $2 trillion globally, with of course small and medium sized businesses being the most underserved, especially those that are led by women,” he said.

Supply chain finance is a new innovation that takes a different approach in assessing and providing support to SME, which looks where the firms are in the supply chain, he said.

He said the bank had also made a study on “deep tier supply chain finance” to stretch financing farther into the supply chain and “provide much more support to the smaller companies.”

This also has the potential to address resiliency concerns, especially during crisis such as the COVID-19 pandemic, Becks said.

On plans by Davao-based property and real estate developer Damosa Land, Inc. (DLI)to fast track its projects m in Mindanao including those in the Davao Region this year:

“Basically, we have ongoing projects in Samal, several in Panabo City, and Davao City. A lot of these projects are slightly delayed due to the pandemic but now we are very confident, we are moving forward, and we are launching them simultaneously while completing the other projects. Medyo busy ang new year natin... We’ve been planning this for a year now. We are positioning this to be a bit more upscale with bigger and fewer lots.”

“CARY” LAGDAMEO President, Damosa Land Inc.

Long-time residents of Davao City know this famous street that links Quirino Avenue to San Pedro Street by its old name Ponciano Reyes. Although officially listed as Cayetano Ban-goy Street after it was renamed, the daily commuters continue to call it by its original appella-tion.

Reyes’ name is scarcely mentioned in accounts. In 1907, he is mentioned as the English section editor of The Students Magazine, a publication of Filipino scholars enrolled in US learn-ing institutions. He first joined the Department of Mindanao and Sulu as an attorney acting as Register of Deeds before he was promoted to delegate (deputy governor), on January 1, 1915. Prior to this, he was appointed fiscal (prosecutor) of Capiz on June 28, 1910, and, two years later, assumed as