A salute to women in microfinance

FROM THE MARGINS

Super typhoon Karding left a trail of destruction in Luzon last week. As I scrolled though photos of massive flooding and agricultural crops laid to waste, I cannot help but sigh, realizing that life is becoming harder for many Filipinos. With rising inflation and growing poverty, the challenge for us in the development sector is now even greater. We are called upon to intensify efforts to enable those in the margins to help themselves and others like them.

I recall Arlene Aquino’s story. She makes pots and earthen jars in Vigan, Ilocos Sur, her pottery business their family’s source of income for years. Arlene’s microfinance organization has enabled her not just to grow her business, but to help other poor women in their community. Arlene is a Center chief, tasked to lead and facilitate support for other members of their organization.

The spirit of damayan – the giving of mutual aid – is very much alive in microfinance. For practitioners like me, there is no sweeter reward than to see Arlene and others like her help their fellow members rise above poverty.

‘Center’ dynamics

Microfinance gives the poor access to savings, credit, insurance and other financial products, as well as training, health education and other services. Group approach is a common methodology, where members – primari