The search is on for outstanding microentrepreneurs

MANILA, Philippines - The annual search for the country’s outstanding microentrepreneurs is now underway, following ceremonies hosted by program partners Bangko Sentral ng Pilipinas (BSP), Citi Philippines and Microfinance Council of the Philippines Inc. (MCPI) at the Executive Business Lounge of the Bangko Sentral ng Pilipinas.

Funded by Citi Foundation, the Citi Microentrepreneurship Awards (CMA) was introduced in 2002 and has awarded 86 deserving Filipinos over the last decade.  Now in its 11th year, the program remains committed to increasing awareness for microfinance and providing incentives to microentrepreneurs in the country.

In his keynote address, BSP Governor Amando Tetangco Jr., who is co-chair of CMA, said:  “In the 10 years of CMA, we have met many microentrepreneurs who lifted themselves from poverty, transformed into net savers in banks and served as catalysts for development in their respective communities. As we launch the 2013 CMA, we look forward to hearing more inspiring stories of how access to collateral-free credit can be so empowering.”

Citi country officer for the Philippines Batara Sianturi said:  “Through the years, Citi has shown strong support for microfinance and microenterprise development. We remain committed to doing our share in building a better future for the country.”

2012 CMA national winner Floraiwin Cainglet gave a moving testimonial on how much her life has improved and how her business grew to several other businesses with the help of CMA.

Other microfinance champions who lent their support include MCPI chairperson Mila Mercado-Bunker and members of the National Selection Committee including former Monetary Board member Antonio Alindogan, Jr.

Commission on Filipinos Overseas chairperson Secretary Imelda Nicolas, came to represent her sister Loida Nicolas-Lewis who is joining the committee this year.  Monetary Board member Felipe Medalla and deputy governor Nestor Espenilla also graced the launch event.