Cantilan Bank wins this year’s Fondazione Giordano Dell’Amore Microfinance Best Practices International Award. Ms. Tanya P. Hotchkiss, Head of Office of Strategic Management receives the award for Cantilan Bank.
Cantilan Bank received the 2015 International Microfinance Best Practices Award from Fondazione Giordano Dell’Amore, an Italy-based foundation that promotes awareness on the key role of microfinance as a means of alleviating poverty in developing countries.
This year’s theme, “Improving financial inclusion of smallholder farmers” highlights the various challenges faced by microfinance practitioners when it comes to better productivity and access to markets considering the farmers’
significant role in generating most of the world’s food.
Fondazione Giordano Dell’Amore received a total of 35 applications from 28 countries and selected the top three official finalists namely, Cantilan Bank (Philippines), Advans CI (Cote d’Ivoire), and Palestine for Credit and Development-FATEN (Palestine). The Award Selection Committee was composed of international experts in the fields of microfinance and financial inclusion.
CBI presented its innovative agricultural loan product, Pag-uma and Value Chain Financing, which helps Mindanao farmers improve their crop production and achieve better returns from their farm through enhanced repayment methods and very affordable interest rate. By providing effective access to a wide range of financial services, it helps the farmers borrow better, reduce production risks, increase productivity, increase income, and save better.
The bank was represented by Ms. Tanya P. Hotchkiss, Head of Strategic Management who was also a plenary speaker during the International Conference held at Cariplo Foundation Conference Center, Milan, Italy on October 15 and 16, 2015.
Cantilan Bank received a cash prize worth EUR 50,000 or an equivalent of 2.5 million in Philippine Pesos as this year’s winner of Fondazione Giordano Dell’Amore Microfinance Best Practices award. This will be used to fund the bank’s initiative to enhance its existing projects for the benefit of smallholder farmers and other microfinance clients in its 40 offices located in Mindanao.
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