CARD-MRI recognized in the first Digital Financial Inclusion Awards (DFIA) by providing assistance to microentrepreneurs in the digital economy

Employment and unemployment rates are back to pre-pandemic levels, and the GDP growth rate is at 7.6% since the economy reopened, but Filipinos are still feeling bitten by inflation. To address this, jobs must be created, financial inclusion and support for micro, small, and medium-sized enterprises (MSMEs).

Joey Concepcion, head of the Private Sector Advisory Council, stated that the Marcos administration must focus on agri-microentrepreneurs to create jobs and address food security issues. The pandemic paved the way for microentrepreneurs to explore digital options for market expansion. The Microfinance Council of the Philippines (MCPI) named 24 microentrepreneurs “Digital Champions” in a virtual awarding ceremony last December 6. Cantilan Bank, CARD MRI, KMBI, and TSKI were recognized as well in the first Digital Financial Inclusion Awards (DFIA), an MCPI program supported by the BSP and funded by the Citi Foundation. It was founded in March to recognize microfinance institutions and microbusinesses that thrive in the digital economy.

DFIA initiatives encourage other microfinance institutions and microentrepreneurs to adopt digital solutions in their institutions, thereby expanding digital financial services and empowering local businesses.

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