Grameen Pilipinas Microfinance Inc. (GPMI) started as a pilot for a microfinance business school in 2013 by members of the Grameen Foundation Australia (GFA). Combining microfinance with education and mentoring, GPMI endeavored to promote empowerment in two settlement areas in Quezon City, Philippines. Inspired by Prof. Muhammad Yunus’ principles of social business, it has made funds available to 6,500 poor women within the first two years of its operation, with a 94.5% repayment rate.
“To think like a business but having social outcome” remains as its overall objective to this day. GPMI continues to expand its area of operation to include provinces outside of Metro Manila, supporting the most disadvantaged in developing sustainable income-producing microbusinesses that will lift them out of poverty and provide education and better opportunities to their children.