The Bangko Sentral ng Pilipinas (BSP) launched on Thursday a new database project that aims to improve small and medium enterprises’ (SMEs) access to finance. This project, called the Credit Risk Database, is a joint initiative of the BSP and the Japan International Cooperation Agency that promotes risk-based lending and reducing the dependence of banks on collaterals during credit evaluation. This will be achieved using statistical credit scoring models to be developed on the CRD that can determine the probability of an SME defaulting. The augmented credit access of SMEs is expected to enhance their productivity and competitiveness, and generate jobs and incomes for Filipinos.