Cantilan Bank wins the Giordano Dell'Amore Microfinance Best Practices International Award
On October 15th Mr. Federico Manzoni, president of Giordano Dell'Amore Foundation, had the pleasure to announce the winning institution of the 2015 Award. The ceremony took place during the International Conference "Improving Financial Inclusion of Smallholder Farmers", organized by the Foundation in Milan.
Cantilan Bank, from the Philippines, submitted the proposal "Pag-uma and Value Chain Financing", and was awarded for its gender-sensitive approach to financial inclusion and agricultural value chain financing for smallholder farmers through savings based funding and a blend of individual and group lending elements.
Cantilan Bank is one of the first rural banks operating in the Philippines to offer microfinance services based on the Grameen model. In order to satisfy market demand and reduce the negative effects of climate change, Cantilan Bank has developed two innovative uncollateralised loan products specifically addressed to farmers and agricultural value chains. Through partnerships with farmers' associations, improved repayment schemes and financial education, the bank facilitates financial inclusion of Filipino smallholder farmers.
For more information on the experiences of the 2015 winner and finalists, read the report "Improving Financial Inclusion of Smallholder Farmers" available here