MABS-participating bank clients get Citigroup awards
Several awardees of the 2007 Citigroup Microentrepreneur of the Year (MOTY) Awards are microentrepreneurs tapping the financial services of Microenterprise Access to Banking Services (MABS) program participating rural banks.
The MABS program, a United States Agency for International Development (USAID)-funded project jointly implemented by the Rural Bankers Association of the Philippines (RBAP) and the Office of the President through the Mindanao Economic Development Council, assists rural banks to develop their capability to profitably provide banking services to microentrepreneurs.
To date, it has worked with 90 rural banks, which have disbursed more than P15 billion in microfinance loans to over 435,000 microentrepreneurs.
The 2007 Citigroup Microentrepreneur of the Year (MOTY) Awards will issue the National Awards for two categories, the Maunlad and Masikap awards.
First Isabela Cooperative Bank (FICO) Bank microloan client Henry Bayaua will receive the Maunlad National Award. The Maunlad category recognizes microentrepreneurs who have business assets of up to P1 million and are generating employment for people apart from household or family members.
Bayaua is FICO Bank’s second national MOTY Awardee since 2002. FICO Bank microloan client Josephine Alima was named the first MOTY Maunlad National Awardee during the award program’s initial run in 2002.
The Rural Bank of Santo Tomas (RBST) microloan client Milagros Dorado will be recognized as the Masikap National Awardee. The Masikap category covers microenterprises with asset market values of up to P300,000 and are reliable sources of income for the owners’ families.
Dorado raises ducks for egg production and sells the eggs to balut manufacturers. With loans from RBST, she was able to buy more ducks and increase her production. The business has helped finance her children’s education.
The MOTY Awards — a joint undertaking of Citigroup, the Microfinance Council of the Philippines Inc., and the BAngko Sentral ng Pilipinas (BSP) — aims to promote the development of microfinance and microenterprises in the Philippines by recognizing outstanding microentrepreneurs who have substantially grown their businesses, improved the quality of their lives, and contributed to the growth of their local economies.
Aside from the two major winners, three other MABS participating bank microloan clients will be recognized.
Allan Geron, a microloan client of MABS participating bank Bangko Kabayan, will receive the 2007 Maunlad MOTY for
Rural Bank of Dulag microloan client Ruel Limpin will be named the 2007 Maunlad MOTY for Visayas.
Virginia Dimayuga, also a microloan client of Bangko Kabayan, will receive the 2007 Masikap MOTY for
This is the fifth run of the MOTY Awards. It was first conducted in 2002 as part of activities marking Citigroup’s 100 years of presence in the
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