TRAINING IN ADMU

THE NEW FRONTIER: LINKING REMITTANCE TO MICROFINANCE 

The Ateneo de Manila University Microfinance Capacity – Building Program held a training event entitled “The New Frontier: Linking Microfinance and Remittances”.

USPD sent 2 of their senoir employees to represent in the training: MR. GEORGE J. PUPA – OIC/ Chief Loans of Credit Coop and MS. MA. LOURDES L. CANO – EDP In- Charge. 

This was held on February 28 – March 1, 2008 at the Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City. The course may be credited towards a Diploma in Microfinance. This ran for 3 days and cost an amount of P3, 500.00 per participant.

RATIONALE OF TRAINING:

There is a natural strategic link between microfinance and remittances. Research data shows that 40% of the total remittances go to the rural areas where MFIs are present. However, most MFIs fail to recognize the opportunity in remittances as one of the means to achieve financial sustainability and social mission.

Remittances as a fee-based product offer the opportunity to MFIs to achieve financial goals. At the same time, poor migrants in host countires send remittances to even poorer households in their countries of origin. MFIS could offer remitttance receivers the opportunity to leverage remittances with pro poor financial products, thus, achieving their social mission.

The course presented different remittance operations models where MFIs could participate . It outlined the advantages and disadvantages of the different remitance operations models as well as tools on how to negotiate with money transfer operators.

The course also provided guidelines for MFIs on how to develop pro-poor financial products that are linked to remittances.

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Posted by: hr_charmingcloudwalker