Thursday March 11 2010

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Events

EVENTS

Providing access to financial services in hard-to-reach areas
Micro-no-more pooled-in the resources of SEEDFINANCE, SMART Communications and MFI partners in launching the project: ISLANDS ACTIVIATION PROGRAM. This program is designed for institutions located in remote areas where there is no or very limited access to financial services. The solution includes provisioning SMART Money services and mobile-based applications for members of the institutions.

MFI partners in islands increases their business opportunity by becoming an accredited: 1) SMART Money Center for reloading and encashment center; 2) Airtime load distributor; and, 3) Remittance Agent. MFIs become a licensed remittance agent (registered with BSP) that can carry all other remittance products available (Western Union, Kwarta Padala, etc.). Members and micro-entrepreneurs now have access to mobile-enabled financial transactions right from their own place.

Areas identified for activation are Limasawa, Biliran, Guimaras and Dinagat islands. Full activation is expected before the end of the first semester of 2009.

Renewable Energy: Getting Off the Grid

micronomore-getting-off-the-gridThe perspective of using cleaner, secure and sustainable sources of energy is not just immediately necessary in the face of the ever-rising prices of oil products but is our only way to live as humans and save the earth. Micro-no-more supports the NGOs, the Department of Energy and providers of solar and wind energy that are working in making solar and wind energy affordable to the people.

An initiative to establish solar energy to power households and micro-enterprises in an isolated island of Eastern Visayas, Philippines is being worked out by a team of SEEDFINANCE, an international organization and a local partner. This island is expected to be powered up by this clean solar energy late of 2009. Presently, the local government is using a diesel-fed generator to supply a 3-hour per day electricity to the island residents. Similar project is also being undertaken by ICTUS in powering its eco-resort in Lake Sebu, Cotabato.

When all requirements are met and satisfied, renewable energy will be replicated in all areas where micro-no-more has a partner. The Philippines receives more energy from the sun every day than its people uses in a year so there is scarcity is out of question.

MICRO-PLUS as micro-no-more

micronomore-as-micro-plusConsistent with the development perspective of bringing micro-entrepreneurs to the next level of economic growth, a new financial product was recently piloted to 3 cooperatives, namely: Lamac Multi-Purpose Cooperative, Metro Ormoc Community Cooperative and Paglaum Multi-Purpose Cooperative.

This SME financing product, named as Micro-Plus, is designed for the partners’ microfinance graduates who have successfully increased their asset size and expanded their business reach. Borrower Risk Rating (BRR) System, used by Small Business Corporartion (SBC) and several banks, is employed in selecting clients for the MICRO-PLUS.

It is a co-financing facility offered by SEEDFINANCE to partner institutions with existing SME clients. MICRO-PLUS is expected to be rolled-out nationwide on August 2009. Final product orientation with BRR and SME training was held on February 11-14 in Cebu City, Philippines.