Road Map for Strengthening Social Entrepreneurship in the Philippines

Abstract

The Philippines is at an important crossroads of development. While it is among the fastest growing economies in Asia, growth has not been inclusive—the country has the highest inequality rate in the Association of Southeast Asian Nations, with 22 million Filipinos living below the poverty line.1 Meanwhile, the Philippine economy faces other negative trends. It has dropped three places on the World Economic Forum’s Global Gender Gap Report for 2017,2 and grapples with a record-high inflation rate of 6.7%.3 Official development aid has declined as the Philippines is anticipated to graduate from low-middle income status and attain high-middle income status.4 There is a growing need to build sustainable solutions for national development while leveraging global commitments to mobilize innovative finance at scale for the Sustainable Development Goals (SDGs).