CARD MRI participates in ASEAN 2017 MSME Development Summit
The founder and chairman of CARD MRI, Dr. Jaime Aristotle B. Alip, joined prominent stakeholders from the private and public sector advocating for the development of MSMEs in the ASEAN 2017 MSME Development Summit hosted by the Department of Trade and Industry (DTI) recently at the Philippine International Convention Center (PICC) in Manila.
“Part of CARD MRI’s business model is to help microfinance clients to graduate to SMEs. We are glad that there are a lot of people and institutions that also advocate for and ensures the growth of MSMEs,” said Alip.
In his speech, DTI Secretary Ramon Lopez mentioned CARD MRI as one of institutions that supports the Pondo sa Pagbabago at Pagasenso (P3) Program of the Philippine government. The P3 program, which now seeks for additional P2-billion budget on top of the P1billion funding, according to Secretary Lopez, will help make a dent in the operations of 5/ 6 operators or loan sharks in the country.
CARD MRI according to Alip is one with the goals of the government to ensure that the socioeconomically challenged families have access to better financial assistance that will eventually lift them out of poverty. “Availing loans with high interest will further put these families in the vicious cycle of poverty and CARD MRI wants to pull these families away from this kind of loan facilities,” added Alip referring to the 5/ 6 operators.
The support of the government to the plight of mSMEs is also paving the way for the success of CARD MRI’s new strategic goals, which it announced in 2015.
According to Alip, CARD MRI, with its 21 mutually reinforcing institutions, will reach eight million mSMEs and will insure 40 million individuals by 2020.
CARD MRI, which provides financial and development programs and services, is currently serving more than 4.5 million clients and insuring 13.5 million individuals. It is continuously expanding in island provinces and far flung areas where access to financial services is low or almost none. (Press Release)