Grameen Foundation : Where we work : East Asia : The Philippines : CARD
Center for Agricultural and Rural Development, Inc. (CARD)
| Status snapshot as of March 2008 | |
| Active clients | 339,286 |
| Loan portfolio (USD) | $32,851,894 |
| Portfolio At Risk >30 days* | 0.7% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
CARD is one of the first Grameen replication programs in the world, and one of the largest MFIs in the Philippines. Formed in 1987, it targets primarily low-income landless rural women. The CARD family of organizations includes CARD NGO, CARD Bank, CARD Mutual Benefit Association, and CARD Development Institute, collectively known as “CARD Mutually Reinforcing Institutions.” CARD NGO is responsible for opening new branches and nurturing them to financial sustainability at which time they could be absorbed by CARD Bank when a license is made available by the government.
Outreach:
CARD’s 881 staff provides more than 10 different products such as microcredit loans, savings, microinsurance, and other financial services to over 300,000 women clients including those of CARD Bank. CARD uses a targeting methodology that includes a housing index and household assets. It is in the process of implementing Grameen Foundation’s Progress out of Poverty Index (PPI) as a tool for targeting poor clients and measuring impact over time.
Grameen Foundation support:
CARD has been a Grameen Foundation partner since 2001. Grameen Foundation has provided $350,000 in low-interest direct loans and $410,000 as cash guarantee to enable CARD to borrow double that amount from the Land Bank of the Philippines. In October 2006, Grameen Foundation provided CARD $1million under its Growth Guarantee Program that enables it to access $2 million in loans from Bank of the Philippine Islands that will be used to finance CARD’s expansion throughout the country. Grameen Foundation has also provided CARD with treasury management technical assistance and training, MIS assessment technical assistance, and training to implement Grameen Foundation Social Performance Management Tool.
Awards:
CARD Inc. was chosen from a field of 9 nominated MFIs from around the world to receive Grameen Bank Foundation USA’s 2003 Excellence Award. It has also received a Special Citation Statuette from The People’s Credit and Finance Corporation (PCFC), the Philippinemicrofinance wholesale fund, for its high outreach and its role as a pioneering MFI in the enhancement and capability building of other MFI’s.
Learn more at: www.cardbankph.com
Grameen Foundation : Where we work : East Asia : The Philippines : CARD
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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