MFIs to generate P5B resiliency fund for livelihood rehab program in disaster areas

By perla G. Lena

TACLOBAN CITY, June 13 (PNA) — Microfinance institutions (MFIs) gathered under the Center for Agriculture and Rural Development–Mutually Reinforcing Institutions (CARD-MRI) are looking forward to generate some P5 billion as resiliency fund to allow the industry to respond immediately in times of calamities and disasters.

On Thursday, CARD-MRI culminated its three-day Dugtong-Buhay Project disaster management forum caravan covering Palo in Leyte; Basey, Samar and Tacloban City to drumbeat the initiative.

Dr. Jaime Aristotle B. Alip, CARD MRI founder and managing director, said they are hoping to get positive response from private companies through their corporate social responsibility (CSR) as well individuals through the assistance of the Philippine Business and Social Progress (PBSP) and even international organizations.

“It kicked off with Yolanda but all funds will be called resiliency micro finance fund. The funds that we will generate we will use for our livelihood rehabilitation program,” he said.

“This is also our way of helping government. So it is not only the government but the micro finance industry is there to help also in rebuilding,” he added.

The CARD-MRI has for its members biggest micro finance institutions (MFI) in the country with a combined client comprising 80 percent of the industry, he disclosed.

Meanwhile, the caravan also served as venue to showcase various produce of members that are being supported by the organization.

Talks on disaster preparedness and management, livelihood seminars, dialogue with stakeholders also composed some of the activities that were lined up during the three-day caravan.

It culminated with a fashion show by ‘Mga Likha ni Inay,’ a marketing project of the CARD Business Development Foundation, Inc held at the gymnasium of the Leyte Normal University (LNU) here. (PNA)