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| The ASKI Mutual Benefit Association (MBA) opened its doors on December 2006 to offer micro insurance to ASKI clients and their families. With access to micro insurance, we envision the clients to strengthen their financial position by easing their financial burden in case of death in the family. We also broadened our product offerings. In partnership with PhilHealth, we offered health insurance to clients. In case of in-patient medical treatment, clients and their dependents can turn to PhilHealth for financial support. With a social housing credit line from the Development Bank of the Philippines, we made available micro housing loans to qualified clients and personnel. Two other products were launched during the year: the multi-purpose loan, and a communications loan involving the acquisition of cellular phones and start-up of cell phone prepaid card businesses.Among the existing products, the agricultural loan program was expanded to cover a larger number of agrarian reform communities, with financing from the National Livelihood Development Corporation (NLDC). The ASKI Training Institute received accreditation from the People’s Development Trust Fund to be its trainer of microfinance institutions in the Central Luzon. This marks a bigger role for ASKI in strengthening the capacity of local microfinance institutions in the region. 2007 has truly been a busy year for product development.
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| Local leaders supported by our Community Organizers made a lot of things happen in AS KI communities. Mini infrastructure projects now draw economic improvements in hard- to- reach areas-- there is the hanging bridge in Aliaga, Nueva Ecija which provides easy access to 61 families; the repair of an irrigation system for 50 hectares of farmland in Talugtug, Nueva Ecija; rural electrification in an Igorot community and the acquisition of new knowledge and practical skills on small engine mechanic, automative, building and wiring, and cosmetology to 80 young residents of Laur, Nueva Ecija. What worked for the se community projects is the presence of strong community-based organizations with local leaders who can ably present the needs of the community to the government and other service providers. On the part of the government- local government units and provincial and regional representatives of national line agencies, were very supportive of ASKI communities, responding to the requests promptly and without red tape.
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| As of June 2007, ASKI provided microfinance to 47,077 micro and small entrepreneurs from 325 communities in 9 provinces of Regions 1 (Ilocos), 2 (Cagayan Valley) and 3 (Central Luzon). Income generated from these enterprises supplied the basic needs of an estimated 235,000 Filipinos. While majority of the entrepreneurs who received funding mainly employ family labor, a number of these entrepreneurs grew their operations and created jobs in ASKI communities. Local resources
likewise have been put to good use as raw materials for products, giving local enterprises a competitive edge over other enterprises. A loyal ASKI client, Mrs. Consuelo (Baby) Valenzuela, was cited during the year for her resourcefulness. Using sabutan, a
plant native in Aurora Province, Baby makes and sells beautiful hats and bags, which earned her the 2006 Micro Entrepreneur of the Year Award under the Masikap Category. Citi, the Microfinance Council of the Philippines, Inc. (MCPI) and Bangko Sentral ng Pilipinas sponsor this annual awards program for Filipino micro entrepreneurs.
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