Bayan Micro-Finance (Community Microfinance)
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In the ABS CBN Foundation Inc. (AFI) and Bantay Bata’s experiences with abused and disadvantaged children in the Philippines, poverty and the lack of resources within these children’s communities is often seen as one of the primary roots of the societal dilemma. That is why in 1993, AFI sought to address this by initiating a pilot project among a small group of 25 women, granting them loans and teaching them skills for start-up enterprise. The goal of this project was to provide the women and their families with some socio-economic opportunities to enable them to have financial sufficiency and help secure the future of their children.
The program allows qualified candidates to start or expand existing micro-enterprises with various business groups. These borrowers were organized into teams consisting of at least four members from a baranggay (a small community), which serves as the borrower's support system, guarantor and business panel. The key aspect of the loan program is the comprehensive training, which enhances and develops value formation, leadership and business management capabilities.
The success of the pilot project led to much support from the Philippine business sector and by 1997, Bayan (Community) Microfinance was launched as a comprehensive development program. Starting from two project sites in Zambales province and Quezon City, Bayan subsequently received backing from the Bauang Private Power Plant and the ABS CBN Broadcasting Corporation and expanded its reach to 19 training centers nationwide.
In April 2006, Bayan Microfinance was reorganized to rigorously push the strategies of micro-enterprise development for wealth creation; training of people in communities on entrepreneurship in cooperation with corporations, academe and various government agencies; and the strengthening of families through livelihood and entrepreneurship training intervention. These approaches were anchored upon the aim of creating a deeper impact in the lives of the families it serves.
Today, Bayan Microfinance is a social development institution that emphasizes entrepreneurship, community development, education, values formation and family strengthening.
To know more about Bayan Microfinance and its projects in the Philippines, please visit their site www.abs-cbnbayanfoundation.com
Related Links
 ABS-CBN International
Sagip Kapamilya
Bantay Bata 163
E-Media/Educational (ETV)
Bantay Kalikasan
Bayan Microfinance
BayaniJuan
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