BDO Foundation inaugurates micro-finance center

MANILA, Philippines - BDO Foundation, Inc. completed another effort in bringing micro-finance closer to the marginalized sector.

Teresita Sy-Coson, chairperson of BDO, recently led the inauguration of the three-storey BDO Foundation Micro-Finance Center in Bgy. Tranca, Bay, Laguna. Built at a cost of P12 million, the facility will serve as venue for the training and development of microfinance programs of the CARD MRI Development Institute.

“We believe that expanding the reach of micro-finance throughout the nation especially in the countryside will help alleviate the immediate financial concerns of the underprivileged and assist in financing or growing the entrepreneurial micro-businesses. This training center that we donated is intended to further enhance the current program of CARD MRI,” said Sy-Coson, who spoke before the members of CARD MRI.

Apart from donating the building, BDO will likewise provide additional support, sending volunteers from the bank’s Speakers Bureau to deliver talks and facilitate training activities on computer application, basic accounting, personality development, personal finance and skills training, among others.

CARD MRI, who is spearheaded by Dr. Jaime Aristotle Alip, is the country’s leading innovator in micro-finance. Known initially as CARD, it was established in 1986 as a social development institute to address the growing poverty incidence in depressed communities. It is now comprised of seven organizations committed to build sustainable financial and capacity-building institutions owned and led by socially and economically challenged families.