P-Noy to name Alip as adviser on microfinance

P-Noy to name Alip as adviser on microfinance

By Iris C. Gonzales (The Philippine Star) Updated July 23, 2011 12:00 AM

MANILA, Philippines - President Aquino is expected to announce soon the appointment of Aris Alip as presidential adviser for microfinance and lending, Finance Secretary Cesar Purisima told editors and reporters of The STAR in a roundtable discussion Wednesday night.

The move is part of efforts to improve the public’s access to financing, Purisima said.

Alip is known in the agricultural sector. He was founder and managing director of the Center for Agriculture and Rural Development (CARD) Mutually Reinforcing Institutions.

CARD started as financial institution in the Philippines which extends microcredit and the largest of its kind in the country, started as a nongovernmental organization in 1986 and was licensed as a bank in 1997.

Alip established the NGO with the aim of helping the poor get access to financing to start a business.

He was also a former staff member of the Philippine Business for Social Progress. He promoted micro-financing in rural areas similar to the Grameen Bank in Bangladesh.

In 2010, he was also considered by Aquino to head the Agriculture portfolio.

Purisima said Aquino believes in improving the poor’s access to financing to help them benefit from the cash-rich domestic market.

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