Restart ME to fund MFIs for Marawi

Restart Microenterprise (Restart ME) Inc. will provide PhP 10M each in 0% loans to three microfinance institutions (MFIs). These are ASA Philippines, Center for Agriculture and Rural Development, Inc. (CARD) and Taytay sa Kauswagan Inc. (TSKI) The said MFIs are to utilize the fund as livelihood loans to their respective microfinance clients in Marawi City and nearby municipalities. This agreement was made during the special board meeting of Restart Me held on December 5,2017 in Makati City.

Restart ME is a spin-off of the USAID-funded Micro Enterprise Disaster Assistance Fund for Resiliency Program (MIDAS) and was initially intended for livelihood rehabilitation of the Yolanda-affected MFI clients in Leyte participated by the four MFIs mentioned above and the Negros Women’s for Tomorrow’s Foundation (NWTF). The said fund was managed at the time by the Philippine Business for Social Progress (PBSP).

In the picture are: (Front L-R) Marilyn Manila, Community Development Director; Angel De Leon, TSKI Chairman;  Flordeliza Sarmiento, CARD MRI Managing Director; Dr. Jaime Aristotle Alip, CARD MRI Founder and Chairman; (Back R-L) Kamrul Tarafder, ASA Philippines President; Gilbert Maramba, NWTF Research and Development; Angelo Solarte, TSKI Executive Director; Rapa Lopa, PBSP Former Executive Director; Benjie Uichico, PBSP Finance; Reynaldo Antonio Laguda, PBSP Executive Director; Dr. Dolores Torres, CARD Bank Vice Chairperson; and Pauline Landicho, CARD MRI Resource Mobilization and Partnership Director.