Speeches

THE PEOPLE MANAGEMENT PARADIGM IN MICROFINANCE

Bayan Microfinance evolved out of the view that microfinance is a powerful tool in alleviating poverty—providing opportunities for self-employment among the poor and, thus, improving living conditions of Filipino families. Prior to 2006, Bayan’s performance had not been exemplary. It remained as a microfinance institution trying to compete with other banks, cooperatives, non-government organizations and even informal lending institutions just to achieve its targeted numbers. Its operations were riddled with many fraud cases resulting in a large accumulation of debts which had to be written off. In the past nine years, Bayan’s focus had been microfinancing yet its achievements were way behind.. read more..