CARD, Aboitiz to widen support to microfinance clients

THE Center for Agriculture and Rural Development (CARD) Inc., (A Microfinance NGO), together with Aboitiz Foundation, Inc. inked an agreement to continue the joint venture on helping the business of cooperatives and members through lending program on August 8, 2019.

CARD Mutually Reinforcing Institutions (CARD MRI) Managing Director/CARD, Inc. President Flordeliza Sarmiento said that the collaboration means a continuous, holistic support to the communities being assisted by both CARD and Aboitiz Foundation.

“We are very much thankful to the privilege to work with the Aboitiz Foundation, Inc. This partnership will surely continue to create stories of life improvements. We are grateful for this fruitful partnership with Aboitiz Foundation.”

In February 2016, the Aboitiz Foundation funded PhP10 million for the Adopt-A-Branch program of the two institutions in Davao City and Albay, and added additional Php 10 million each for La Trinidad and Capas in 2017 and 2018, respectively.

The fund was used to set-up a microfinance operation in the communities which has more than 5,000 clients benefited already.

Program’s operation was based to the standard microfinance procedures of CARD, Inc. wherein the loan ranges from P1,000 to P150,000 with fair interest rate and loan terms up to one year.

Aside from the financial support, the two companies offer livelihood trainings for the clients to have idea on what product they can make and introduce to the market; two of those were soap making and pottery.

CARD, Inc. is one of the financial institutions of CARD MRI that aims to eradicate poverty by empowering women and communities through financial assistance and community development services.

To date, CARD MRI is serving 6.3 million clients nationwide.

Furthermore, Aboitiz Foundation, Inc. is the CSR or corporate social responsibility arm of the Aboitiz Group whose efforts are focused on education, enterprise development, environment, and health and well-being, as well as disaster preparedness and response.