Category: Microfinance
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ARDCI Celebrates 17th Founding Anniversary
By: Bea Arnela Agricultural and Rural Development for Catanduanes, Inc. (ARDCI) recently celebrated its 17th founding anniversary last September 11, 2015. The festive day started with a Thanksgiving Mass and was followed by a colorful parade around the town of Virac. Hundreds of ARDCI members gathered in the Virac Sports Complex to join the fun-filled…
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DAR Project Reaches 19,000 Poor Households
By: Hazel Atienza The Department of Agrarian Reform Micro Agri Loan Product (MALP) was an integrated credit delivery project for Agrarian Reform Beneficiaries (ARBs). The program aims to intensify and fast track the provision of microfinance services to target clients (ARBs/ARB households and rural women) to finance their agri-based enterprises through capable partner MFIs. Having…
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Why Financial Literacy is Crucial to Microfinance Staff
by Denise Subido Microfinance Institutions (MFIs) face a myriad of issues in running their day-to-day operations. One problem they are constantly faced with is delinquency. Delinquency is a prevaling problem that has negative repercussions for an institution. One peculiar finding, however, is that when there is delinquency, there are also cases of fraud. In fact,…
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Financial Literacy for CASS Beneficiaries
by Carlo Niño Yacob The Climate Adaptation Support Services (CASS) project intends to develop communities in Siargao Island, Surigao del Norte, toward climate-resiliency through economic empowerment. Climate Change Commission (CCC) in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) implements CASS. With financial support in the form of cash transfers coming from the government, it…
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Challenge of Integrating Crop Insurance in Agricultural Financing
By Romeo Arahan Jr. SEDPI recently concluded the MFI Credit Support to Agri-production and Enterprises of Agrarian Reform Beneficiaries or ARB Households and Rural Women in the Program Beneficiaries Development Model Areas project of the Department of Agrarian Reform (DAR) on July 2015. During the contract period, SEDPI was able to formulate micro-agricultural loan products…
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Adopting Technology to Improve Microfinance Efficiency
By: Bea Arnela Parungo RAFI Microfinance (RMF) has constantly been revolutionizing their operations through breakthrough innovations. Last April, RMF upgraded its Management Information System (MIS) to improve efficiency in operations. On-field account management and record-keeping using the mobile application eliminates redundancies and reduces total work load. Instead of recording in collection sheets, the field staff…
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Pulilan LGU Adopts Mobile Money
by Denise Subido Today’s world is made smaller and more convenient through the use of technology. What was once impossible or inconvenient can now be done with one touch on your mobile phone. In the Philippines, 80% of households have at least one mobile phone. Aside from making calls, texts and use of internet, mobile…
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Enabling Access to Government Social Security Services through Microfinance
by Romeo Arahan Jr. It is ironic that the poor get social security through microinsurance from microfinance institutions first before they are able to access government-mandated social security benefits. Based on SEDPI’s research, 90% of microfinance clients have access to microinsurance from MFIs while only 10% have access to Social Security System (SSS), PhilHealth and…