Grant Fact-Finding Mission Undertaken/Scheduled: TBD
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Grant Approval Date
14 March 2006
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Estimated Completion Date
30 September 2009
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- Cost and Financing Plan (in US$)
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Amount |
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JFPR |
900,000.00 |
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900,000.00 |
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- Description
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The Asian Development Bank CSP (2005-2007) identifies the development of microfinance as one of the key strategies for more rapid poverty reduction. The Philippine Republic Act (RA) No. 8425 on Social Reform and Povery Alleviation recognizes microfinance as the central strategy for poverty reduction. In accordance with these documents, the proposed JFPR assistance aims to support the development of financial cooperatives and strengthen the institutional capacity and efficiencies of the Cooperative Development Authority (CDA) - which oversees financial cooperatives in order to provide sustainable microfinance services to the poor.
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- Thematic Classification
- Good Governance
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- Target Classification
- General Intervention
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- Objectives and Scope
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The project aims to promote the healthy development of a sustainable microfinance industry in the Philippines to increase household incomes and reduce poverty and vulnerability of the poor to shocks. This will be done by improving the performance of financial cooperatives through (i) capacity building; (ii) strengthening their compliance with CDA's regulatory requirements; and (iii) CDA's institutional strengthening. The objectives of the project are as follows: (i) strengthening savings and credit cooperatives' operations through training sessions for cooperative staff. This will be conducted by cooperative federations accredited by CDA and will standardize the training module on sound microfinance operations based on international best practices; and (ii) improving the regulatory capacity of CDA by installing advanced registration/management information system.
The project comprises the following 2 components: (i) Component A - Building Capacity of Financial Cooperatives; and (ii) Component B - Strengthening CDA Regulatory Capacity.
- Policy Dialogue
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- Environment Category:
C
- Environment Impact and Mitigation
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- Social Aspects and Remedies
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- Benefits and Beneficiaries
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- Beneficiary Participation in Formulation
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- Beneficiary Participation in Implementation
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- Consulting Services
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Domestic consultants for training module and materials development will be engaged under Component A. As for Component B, a domestic systems analyst and computer programmer will be engaged.
- Procurement
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Procurement of computer related equipment for Components A and B.
- Contacts
- Bank
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Eiichi Sasaki
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Financial Sector Specialist
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SEFM
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Tel. No.:
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(632) 632-6337
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E-mail:
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esasaki@adb.org
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- Executing Agency
- Department of Finance
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Contact Person
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Mr. Joselito S. Almario, Director III
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Tel. No.
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523-3825
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