To further assist poor Bikolano families in Masbate , CCMF-Bikol and the Diocese of Masbate Social Action Foundation Inc., (DIMASAFI) renew their partnership in a one-year Memorandum of Agreement on February 24, 2006.
As agreed, CCMF-Bikol shall provide DIMASAFI PhP 1,000,000.00 livelihood fund for re-lending to not less than 1,300 qualified new members for their livelihood activities. DIMASAFI re-lends the fund following the microfinance scheme.
DIMASAFI, headed by the Bishop of the Diocese of Masbate, His Excellency, Most Rev. Joel Baylon, D.D., undertakes projects for the social, moral and economic upliftment of families and communities in the province of Masbate . Bishop Baylon said in a letter to CCMF-Bikol that he expects an increase in the number of beneficiaries as DIMASAFI gains the confidence of the community.
CCMF-Bikol and DIMASAFI's first MOA expired in September 2005. Last year, CCMF-Bikol provided PhP 800,000 livelihood fund to DIMASAFI. The fund was able to reach out to 351 program partners in 11 centers. The microfinance roll over financed 508 production and multi-purpose loans.
Fr. Wilmer S. Tria, CCMF-Bikol Program Manager, said that DIMASAFI is a promising partner for CCMF-Bikol's programs. “It may be new to microfinancing, but it has already shown significant accomplishments in its operations and in delivering its services to the poor,” he adds.
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