The Fiscal Year 2007 has been another
good year marked by good works. In
this year, we laid the groundwork for
the expansion of ASKI into a network of
institutions providing specialized products
and services to fully serve the varied needs of ASKI
communities.
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.
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.
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.
We expanded our branch network with the
establishment of the 20th ASKI branch in Plaridel,
Bulacan. This brought our manpower strength to
334 professionals who are committed to effect total
transformation in ASKI communities. For our untiring
efforts, we received our share of awards. Opportunity
International, a global network of 44 development
institutions, honored ASKI with a Lifetime Achievement
Award on Gender Excellence, and Excellence in
Transformation Award.
We have grown financially posting a net income
of P8.7 million. This year also marks a milestone for
sustainability with ASKI’s financial self-sufficiency (FS)
ratio finally hitting 100% indicating ASKI’s financial
ability to fully cover its costs with internally generated
income. These financial results give a strong assurance
in the capacity of ASKI to sustain its services for many
years to come.
It has been a year of good works. We thank
our clients and partners. We feel privileged to have
worked hand in hand with them in spreading good
seeds that we expect to yield more good works to
more communities. We hear the call; “The harvest is
plentiful, but the workers are few.” (Matthew 9:37). Let
us keep up the good works and bring more partners in
the mission. |
