News/ Events

Project and Consultation Schedule
  • RAMCAR FOOD GROUP
    PROBLEM SOLVING SEMINAR (LEARNING TO THINK)
    From : January 26 , 2011 09:00:AM
    To : January 28 , 2011 18:00:PM
  • UNIVERSITY OF THE ASSUMPTION PAMPANGA
    BOARD MEETING
    From : January 17 , 2011 10:00:AM
    To : January 17 , 2011 00:00:AM
  • DEVELOPMENT ACADEMY OF THE PHILIPPINES
    MOA SIGNING OF EXECUTIVE DOCTORATE IN EDUCATION LEADERSHIP
    From : January 11 , 2011 10:00:AM
    To : January 11 , 2011 00:00:AM
News

Citi Microenterprise Development Center launched in the Philippines: Citi marks milestone in partnership with Bayan Academy

Citi Philippines reaffirms its commitment to microenterprise development as it formally opened the Citi Microenterprise Development Center (CMDC) in Quezon City this October. Funded by the Citi Foundation, CMDC is a collaboration between Citi and long-time community partner Bayan Academy. It will serve as a venue for training, mentoring and providing consultancy services to high potential microentrepreneurs.


Country corporate affairs director Aneth Lim led the ribbon-cutting ceremony with Bayan Academy Chairman Dr. Eduardo Morato, Jr., and President Raul Manikan. On its 109th year of doing business in the Philippines, Citi remains committed to empowering low-income individuals to build viable businesses through funding and on-the-ground partnerships, targeting microenterprises that have no access to commercial banking.

"We're pleased to celebrate a new milestone in our partnership with Bayan Academy, in support of our common vision to democratize entrepreneurship. At Citi, we are committed to help build the nation from below, and we start by giving deserving microenterprises access to opportunities for learning and developing their businesses," said Lim.

In 2010, Bayan Academy facilitated the training of more than 100 high potential microentrepreneurs in a program also supported by the Citi Foundation. This year, that number is expected to go up to 300. "With a venue like this for more training and consultancy, we hope to help these 300 scale up so they don't stay as microentrepreneurs. There's no reason why someday, they can't be among the top 1000 companies in the country," added Lim.

Dr. Morato sees entrepreneurship as the "antidote to the Philippine problem," adding that Bayan Academy is taking its mission to serve as a learning hub for microentrepreneurs one step further by providing access to assistance, assessment services, and professional advice online at the CMDC. All mentors and coaches were carefully selected based on their commitment to be part of the project's marketing, operations, human resources, finance, technical, and regulatory services. Majority are themselves entrepreneurs and business practitioners who are willing to give back to the drivers of the national economy.

Dr. Morato was very thankful to Citi for the partnership and for taking their collaborative efforts to the next level. The skills and experience that the Citi volunteers would be bringing to the table this year would be a great boost for Bayan entrepreneurs and their families. This is consistent with Bayan's thrust for enterprise development.

Manikan added that the creation of the CMDC was a concrete step towards empowering the microentrepreneurs serviced by Bayan. Since 2006, the Citi-Bayan partnership has become more mature and responsive to the needs of today's entrepreneurs and has extended its reach to the clients of other microfinance institutions in the country.

On the same day the CMDC was inaugurated, Citi volunteers engaged 10 participating microentrepreneurs in lively discussions on how to bring their business to greater success. This activity was one of several events marked to celebrate Citi's 6th Global Community Day this year.
Powered By: OfficeWebSolutions