Fundacion CODESPA
The Memorandum of Agreement (MOA) on the development and implementation of the project “Promocion del Acceso a Servicious Financieros y No Financieros para Hogares de Escasos Recursos: Proyecto Piloto para las Regiones de Bicol y CARAGA,” or Promotion of Access to Financial and Non-Financial Services for Poverty Households: Pilot Project for Bicol and CARAGA Regions between Fundacion CODESPA and the PCFC was signed last July 6, 2007.
The agreement was signed by Mr. Edgar V. Generoso, President & CEO of PCFC and Mr. Jose Ignacio Gonzales Aller, Executive Director of Fundacion CODESPA.
The initial project fund amounting to EUR 39,192.80 (Php 2.4 million) was received by PCFC last August 9, 2007. During its first year of implementation, PCFC’s total financial counterpart for the year 2007 in the form of salaries has reached to Php 321,868.71.
The project launching was held last September 25, 2007 at the CSB Hotel, Malate, Manila. The details of the project were introduced and presented to the participants followed by several project workshops. The said launching was well attended by PCFC officers and staff together with its partner MFIs from Bicol and CARAGA Regions.
The project. The project aims to enhance the delivery of financial and non-financial services to poor households, with Bicol and Caraga Regions in the Philippines as pilot areas for the implementation of microfinance interventions.
The objectives. The project has two components:
First Component: Broadening of financial and non-financial services by institutional partners of PCFC-services that are made accessible to the poor.
The following activities will be undertaken:
v Identification of appropriate microfinance interventions for poverty households (through conferences among the MFIs/stakeholders in Bicol and CARAGA)
v Provision of appropriate training programs and technical assistance for the MFIs
v Provision of an intensive Business Development Services (BDS) training program to PCFC accredited training centers
v Development of new financial and non-financial products
Second Component: Enhanced delivery of microfinance services through information technology facilities, particularly through the:
v Establishment of a PCFC e-library (website)
v Development of e-learning courseware/educational CDs of field subjects of learning
v Establishment of video library centers in Bicol ang CARAGA Microfinance Councils
v Development of on-line information system among PCFC MFIs