Make Money Guides and Instructions: December - Philippine Development Finance

LBC now PhilHealth-accredited

THE LBC Express, Inc. is now ready to accept premium payments
from individually paying members (IPMs) of the Philippine
Health Insurance Corporation (PhilHealth), as well as from
employers in the government and private sectors.

Through Circular 35, s.-2010, the PhilHealth officially granted
accreditation to LBC primarily to make premium remittance more
convenient for employers and IPMs. PhilHealth President and
Chief Executive Officer Dr. Rey B. Aquino and LBC President
Santiago G. Araneta signed the Collection and Remittance Agreement
(CRA) in simple ceremonies at the PhilHealth Head Office
recently.

“This move spells added convenience for our members, because
they can now pay even beyond the close of business
hours. I understand there are LBC branches that are open up to six
in the evening on weekdays, and even during weekends, making
their services truly accessible for our members,” Mr. Aquino said,
adding that the only exception to the payment arrangement are LBC
branches located in SM Malls.

The LBC is a non-bank collecting agent. It is technologically
equipped and known for its courier and money remittance
services that are the safest, fastest and offers the lowest rates
in the country. The LBC is now the seventh non-bank facility accredited
by PhilHealth to cater to the premium remittance requirements
of its partner-employers and members all over the country.
When paying through the LBC Customer Associate, IPMs must
provide their complete names and PhilHealth Identification Numbers.
On the other hand, employers must provide their complete
business name and PhilHealth Employer Number. “They should
also indicate the period for which the payment is being made, the
amount of payment and the member type,” Mr. Aquino said. The
LBC will issue either the Payment Receipt or the Acknowledgement
Receipt printed on thermal paper, depending on the existing system
used by the branch through which payment is being made.

The LBC is known for its widest coverage and network. With
about 905 strategically located branches nationwide, it now provides
PhilHealth members with a multitude of payment locations to
choose from. Its primary objective is to link and bridge its customers
by providing innovations in terms of remittance services that
will respond to the growing needs of Filipino families and business
entities. Their objective is in accordance to PhilHealth’s commitment
to provide an efficient premium collection mechanism and to maintain an updated membership contribution database to ensure the viability, adequacy and
responsiveness of the National Health Insurance Program.

The complete list of LBC Express, Inc. branches and its locations
nationwide is available at www.philhealth.gov.ph. Interested
IPMs and employers may also call the Accreditation Division
of Treasury Department

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More Pinoys join microfinance

THE NUMBER of active microfinance clients in the Philippines
increased between 2006 and 2008 following the implementation
of a project by the Asian Development Bank (ADB), a report
released yesterday by the multilateral lending agency showed.
The ADB reported that microfinance clients increased by
129.17% to 5.5 million in December 2008, from 2.4 million in
December 2006.

ADB said its $150-million Microfinance Development Program
(MDP), approved on Nov. 22, 2005, helped create a “sound
and market-oriented microfinance sector development path”
for the Philippines.

The project had the goal of helping the Philippine government
in addressing weaknesses in the microfinance sector and help
poor Filipinos access quality financial services.“The objective of
the MDP was to improve household incomes, reduce poverty
and reduce the vulnerability of the poor,” ADB said in the report.

Microfinance is the provision of financial services to lowincome
clients who traditionally lack access to typical banking and
related services.

Microfinance is also the idea that low-income individuals
are capable of lifting themselves out of poverty if given access to
financial services.

The National Credit Council, under the Finance department,
served as the borrower and executing agency for the loan.
Aside from increasing the number of Filipinos who access
microfinance services, the bank said MDP also helped in creating
a total of 2.6 million jobs during the period of its implementation,
along with the increase in the amount of microfinance and in
the number of loan releases.

The ADB report added that performance standards of microfinance
institutions in terms of portfolio quality, efficiency, sustainability outreach ratings
and continued monitoring were also achieved, along with easy
financial transactions through electronic banking and appropriate
rural saving schemes that increased the clients’ savings
mobilization.

“The MDP enhanced the enabling and regulatory environment
as the Bangko Sentral ng Pilipinas formulated rules
and regulations to promote microfinance operations by
banks, allowing microfinance-oriented banks to open branches
anywhere in the country, and promoting electronic banking
with consumer protection, particularly for savings mobilization,”
ADB said.

It added that the Securities and Exchange Commission managed
to comply with the program’s required policy action
of compelling microfinance-oriented non-government organizations
to be transparent and observe full disclosure in their
operations.

Assessing the MDP overall, the multilateral financial institution
said it was “successful” in achieving its objectives with its
high efficiency and likely sustainability.

Finance officials were not immediately available for comment
as of yesterday. — Jo Javan Cerda

From the Business World Online

Land Bank to grow corporate lending

Monday, 27 December 2010 00:00

STATE-RUN Land Bank of the Philippines is bullish that it could sustain a double-digit growth in corporate lending next year as companies would continue to take advantage of the low interest rate environment. Cecille Borromeo, Land Bank treasurer, told reporters that domestic banks have sufficient resources to address increased demand for corporate capital as firms are projected to be on an expansionary mode to keep up with the growing economy.

“Corporate banking should go up 13 percent next year,” Borromeo said.

She said Land Bank, like most other lenders, have already established a credit line that the corporate sector can tap. These lines can be approved within 24 hours, provided the companies have complied with all the requirements and documentation.

Among those that show a high level of interest to borrow capital from banks are firms in manufacturing, trading, real estate and services, particularly in food, hotels and transport sectors.

Borromeo said companies that have substantial credit lines with Land Bank include conglomerates like San Miguel Corp., the Ayala Group, Metro Pacific Investments Corp. and Filinvest Land Inc.

The executive said that Land Bank has earmarked P110 billion for corporate lending this year. At end-November, the lender is already close to hitting the target.

“We hope there would be more borrowers next year. Banks are very liquid and those funds need to be deployed,” Borromeo said.

The Bangko Sentral ng Pilipinas (BSP) has kept its overnight borrowing or reverse repurchase rate at a record-low of 4 percent and the overnight lending or repurchase rate at 6 percent.

The rates have been steady since July 2009 after the BSP cut a total of 200 basis points from December 2008 to July last year to boost lending activity and stimulate the economy during the US-led global financial crisis.

Borromeo said companies are turning to banks for loans to finance their expansion plans, as well as other capitalization requirements because of stable and low interest rates.
KATRINA MENNEN A. VALDEZ

Yearender: DSWD focused on poverty alleviation

By Helen Flores (The Philippine Star)
Updated December 25, 2010 12:00 AM

MANILA, Philippines - The Department of Social Welfare and Development (DSWD) under the new administration has focused on improving the government’s poverty alleviation programs, but continues to be criticized for its controversial P21-billion conditional cash transfer (CCT) program.

During her first week in office, Secretary Corazon Soliman announced the convergence of the three DSWD programs – the Pantawid Pamilyang Pilipino Program or 4Ps, Kapit-Bisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS), and the Self-Employment Assistance-Kaunlaran (SEA-K) – aimed at enhancing the impact on poverty reduction beyond what each project can accomplish on its own.

Soliman said the DSWD was able to achieve its target of one million beneficiaries this year for the 4Ps, the government’s CCT program.

“I think they did a very good job because the expansion of one million (4Ps beneficiaries) has been achieved,” Soliman told The STAR.

The DSWD will get its biggest budget in history in the proposed outlay for 2011, with P34.2 billion or a 123-percent increase from its 2010 budget.

The bulk of the DSWD budget has been earmarked for the 4Ps initiated under the previous administration.

But the huge increase of the 4Ps budget next year received widespread criticism.

Some lawmakers said the DSWD did not have an efficient monitoring system in place to keep track of disbursements in the CCT program, which was raised from P10 billion to P21 billion.

Soliman said the program is not a dole-out but a “lifesaver” to those drowning in poverty.

“If the family beneficiaries fail to comply with the terms and conditions under 4Ps, their accounts will be suspended,” she said.

Soliman said families who repeatedly fail to comply with the conditions will be removed from the list of beneficiaries.

Under the program, a family receives P1,400 monthly allowance conditioned on their fulfilling certain activities such as keeping children in school.

The program seeks to improve the health and education status of mothers and poor children, respectively, and reduce poverty in the long run.

The DSWD has also intensified its efforts to address the increasing number of abandoned children in the country.

A number of babies, as well as fetuses, were reportedly abandoned in several areas this year, including Baby George Francis, the newborn found inside a trash bin of a Gulf Air flight from Bahrain last Sept. 12.

Soliman said Baby George and his mother, an overseas Filipino worker from Apayao, are still under the custody of the DSWD.

Challenge for 2011

Soliman said she will work very hard to accomplish the three goals she set for herself next year.

“Next year I have three challenges for myself – one is the implementation of the convergence strategy which includes the component of the conditional cash transfer,” she said.

“We’re adding 1.3 million families as beneficiaries by December 2011 to make it 2.3 million.”

Soliman said the DSWD will also expand the coverage of its community-driven development program.

“We’ll be using funds of the Millennium Development Account and additional funding and we will expand it to sustainable livelihood, which means we will be working with the beneficiaries of both the community-driven development and the conditional cash transfer to move them into livelihood programs,” she said.

Soliman said “the second challenge is to institute the performance governance score card, which is the DSWD’s way of measuring their performance.

“It’s a way of instituting measures where from the utility person to the secretary, all know what we are about and what our contribution is to the overall plan of inclusive economic growth and poverty reduction,” she said.

“It would encourage and make sure that we are transparent and accountable.”

Soliman said the DSWD plans to post in its website all the agency’s disbursements.

“I hope we will be able to put up in our web a tracking of our disbursements,” she said.

Soliman’s third challenge is to rid the country of street children by next year.

“The third challenge is to move the street children and street families into stable, safe and sustainable communities so they don’t have to live in the streets or in the islands of our streets,” she said.

The DSWD has embarked on a comprehensive program for street families and children, which aims to extend social protection services for immediate relief and provide poverty reduction programs for sustainable solutions.

Job well done

Soliman said she was satisfied with the DSWD’s performance this year and gave her co-workers a “very good” rating.

“It is important that the agency is organized, the regional and top officials of the agency have committed to ensuring that the programs will be implemented well and social services will be efficiently delivered to the poor,” she said.

Soliman said she was elated by the results of recent polls by the Social Weather Stations and Pulse Asia where she received the highest satisfaction rating among Cabinet officials.

“I think the reason why we received high ratings in surveys is because of the hard work and commitment of my fellow workers,” she said

“It’s a credit to the department, the professionalism, commitment, and passion of the people. Because they are always No. 1 or 2 regardless of who the secretary is.”

Soliman was named DSWD secretary in 2001 during the term of former President Gloria Macapagal-Arroyo.

She is part of the so-called “Hyatt 10,” a group of former senior government officials who called for the resignation of Arroyo at the height of the “Hello, Garci” scandal in 2005.

IFC to guarantee up to 50% of BDO loans for energy efficiency and RE projects

December 24, 2010, 5:26pm

MANILA, Philippines – The International Finance Corporation (IFC), a member of the World Bank Group, and Banco de Oro Unibank Inc. signed a risk-sharing facility that aims to encourage private enterprises in the Philippines to invest in sustainable-energy projects and become more profitable, while addressing climate change.

IFC will guarantee up to 50 percent of Banco de Oro Unibank’s loans for energy-efficiency and renewable-energy projects through the bank’s Sustainable Energy Finance program. The program shows that clean energy combined with energy-efficiency solutions can help companies improve profitability and at the same time help lower greenhouse-gas emissions.

“This is an important agreement for IFC,” said Jesse Ang, IFC Resident Representative for the Philippines. “It will enable Banco de Oro Unibank to expand its reach, particularly among small and medium enterprises that need financial support to help lower their energy costs and improve competitiveness.”

Nestor Tan, President of Banco de Oro Unibank, said, “The risk-sharing facility allows the bank to leverage IFC’s support and global experience to successfully develop the market for sustainable-energy investments.”

IFC and Banco de Oro Unibank have been partners since 2002. IFC’s support for the Sustainable Energy Finance program builds on a $150 million equity investment in the bank earlier this year and a $90 million subordinated note investment in 2007.

From cooperative blogspot

IF YOUR COOPERATIVE IS UP FOR AUDIT FOR ITS 2009 TAX RETURNS, IT ONLY MEANS THAT IT IS UNDER SUSPICION BY THE BUREAU OF INTERNAL REVENUE

There are no two ways about it.

Your cooperative was served a Letter of Authority (LoA) by the Bureau of Internal Revenue (BIR) this year to audit the 2009 tax returns of your cooperative. The reason is plain and simple. The BIR believes that "there are findings/suspicions of under-declaration of sales/revenues" by your cooperative; that your cooperative has tax deficiencies.

BIR says so on Item 3.1, II Policies and Guidelines, of BIR Revenue Memorandum Order No. 80-2010, dated October 28, 2010. The Order, entitled "CY 2010 Audit Criteria," prescribes the audit of 2009 tax returns by the Revenue District Offices (RDOs), and other concerned BIR units.

The said Revenue Memorandum Order may be viewed/downloaded at under www.bir.gov.ph, "Issuances and Rulings."

The Order assumes that "all taxpayers are considered possible candidates for audit." Priority, however, shall be given to the following taxpayers who renders professional services: lawyers, doctors, engineers, accountants, and other professionals, according to the Order.

Moreover, the Order says that "last priority shall be accorded to those taxpayers with an effective income tax rate of 18% (Gross Income X 18%)."

Going by these criteria, cooperatives are not among the priority for tax audit in 2010.

In addition to the aforementioned suspicion of under-declaration of sales/revenues, your cooperative may had been previously assessed for some back taxes by the BIR. But if not, your cooperative is just plain "luckyk" to have been chosen for tax audit. So there. Just grin and bear it. (END).

BPI Globe Savings Bank raises P26M for small borrowers

By Ted P. Torres (The Philippine Star)
Updated December 22, 2010 12:00 AM

MANILA, Philippines - BPI Globe Savings Bank (BanKO) has raised P26 million for its loan portfolio for microborrowers.

BanKO is a thrift bank that focuses on lending to microentrepreneurs, using mobile banking technology instead of physical branches. It is a joint venture among Bank of the Philippine Islands, Globe Telecom and their parent firm Ayala Corp.

Last Nov.9, BanKO was able to raise over P26 million in the form of pledges from companies allied with the Ayala Group of Companies.

The pledges would earn 4.5 percent in the form of so-called systemic savings with a holding period of six months. Pledges that fall under the classification of special savings deposits would earn three percent. Standard savings interest rates are slightly over one percent.

“While we have already lent out most of the amount, we have also received new pledges,” Teresita B. Tan, BanKO president told The STAR. Tan is also the executive vice president of BPI.

The amount raised was lent to microfinance institutions (MFIs) as wholesale loans which, in turn, were re-lent to microentrepreneurs. MFIs are entities dealing in microfinance such as non-government organizations (NGOs), cooperatives, and rural banks.

“It does not only offer high yields but it also has a strong social impact,” Tan added.

No less than Ayala Corp. chairman and chief executive officer Jaime Augusto Zobel de Ayala led Banko officials to entice subsidiaries and employees to invest in the microfinance-oriented thrift bank to raise additional cash for re-lending to microentrpreneurs.

MICROCAPITAL BRIEF: Bill & Melinda Gates Foundation Pledges $500m to Expand Microsavings Over the Next 5 Years

by MicroCapital on Saturday, December 11, 2010 at 5:51am

The Bill & Melinda Gates Foundation, a nonprofit organization based in the US, has pledged USD 500 million over the next five years to expand savings and build a “new financial infrastructure” to bring savings services to the poor.

The pledge includes six new grants totaling USD 40 million. The grants will support projects and partnerships to improve access to savings and other financial services, including expansion of bank and microfinance services to include savings accounts, implementation of new approaches to reach the poor with savings and research to identify how people use formal and informal financial tools, including savings, credit, insurance and payment services.

The recipients include:

World Savings Bank Institute (WSBI): USD 600,000
The grant will support WSBI in identifying viable projects that could be supported to offer affordable, accessible and sustainable savings accounts through approximately 10 additional WSBI member banks.

Vodacom Tanzania Limited (VTL): USD 4.8 million
This program aims to increase awareness and usage of the mobile money service, M-PESA, in Tanzania, reaching at least 2 million people in 18 months.

ShoreBank International Limited: USD 10 million
This project will work with BRAC Bank Limited to build “bKash”, a scalable mobile money platform that will allow poor Bangladeshis to store, transfer and receive money safely via mobile phones.

CGAP (Consulative Group to Assist the Poor): USD 6 million
This program will promote the use of branchless banking to increase the number of poor people with access to financial services, particularly savings.

World Bank: USD 11.4 million
This program will include 10 financial questions in an existing Gallup global poll to generate baseline data on financial inclusion levels across 150 countries. The survey will be issued every three years to measure and track specific data on people’s use and access to financial tools including formal and informal banking.

Yale University/Innovations for Poverty Action: USD 7 million
This project will launch more than 20 studies to identify the best ways to reach the poor with savings products and money-transfer services.

By Witt Gatchell, Research Associate

About Bill & Melinda Gates Foundation:
Based in the US, the Bill & Melinda Gates Foundation provides grants to organizations in approximately 100 countries around the world with the aim of enhancing health care, reducing poverty and expanding access to education and information technology. As of September 2009, its endowment totaled USD 34 billion. The Bill & Melinda Gates Foundation’s Financial Services for the Poor initiative focuses on providing people with secure places to save money. To support this initiative, the foundation works with financial organizations to increase access to technology (point of sales devices, automated teller machines, etc.) and to forge partnerships between mobile phone companies, banks and microfinance institutions. It also supports the startup and growth of new banks in challenging markets.

About World Savings Bank Institute (WSBI):
The World Savings Bank Institute (WSBI) is an international banking association that represents savings and retail banks in 92 countries.

About CGAP (Consultative Group to Assist the Poor):
Housed at the World Bank Group, CGAP (Consultative Group to Assist the Poor) is an independent policy and research center dedicated to facilitating the provision of financial access to poor people worldwide. CGAP is supported by approximately thirty development agencies and private foundations. Its mission is to provide market intelligence, to promote standards and to offer advisory services to governments, microfinance providers, donors and investors.

MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund Reopens for Subscription

by MicroCapital on Tuesday, December 21, 2010 at 11:39pm

responsAbility Global Microfinance Fund, a microfinance investment vehicle (MIV) operated by Swiss-based social investment company responsAbility Social Investments AG, announced that it would resume the acceptance of applications for shares.

A press release by the company cited improving credit demand in emerging markets and a more stable economic environment as key reasons driving the decision. The fund had suspended new investments indefinitely as of May 26th, 2010 [3].

According to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, responsAbility Global Microfinance Fund has USD 475 million in assets as of 2010.

responsAbility Global Microfinance Fund is a creditor / investor in SEEDFINANCE Corporation.

About responsAbility Global Microfinance Fund:

rAGMF is a microfinance vehicle (MIV) managed by responsAbility that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. In April 2010, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether microfinance investment vehicles actually support the microfinance sector. rAGMF reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, that it has USD 474 million in fund assets as of 2010.

PHILIPPINE FEDERATION OF CREDIT COOPERATIVES (PFCCO) BARES 2011 TRAINING CALENDAR

PFCCO has announced its 2011 Training Calendar, open to all cooperative officers and interested parties. Inquiries on particulars of the calendar, i.e. reservations, fees, etc., may be directed to the respective PFCCO League offices nationwide, or you may call (02)931-9855.

The schedules are as follow:

JANUARY -

3-8 >Review of PFCCO Road Map - Strategic Plan, at PFCCO Fern.

10-15 >Open for In-house & Road Tour Trainings; Requesting Primary through
Leagues.

17-22 >Financial Literacy, Luzon (Open)

24-29 >Tot Governance, Cagayan de Oro

FEBRUARY -

31-5 >Open for In-house & Road Tour Trainings; Requesting Primary through
Leagues.

7-12 >Professionalization, NCRL -Pasig.

14-19 >Credit Union Directors' Competency Course, Luzon (Open).

21-26 >Tot Governance, Dumaguete

MARCH -

28-5, Open for In-house & Road Trainings; Requesting Primary through
Leagues.

7-12 >Credit Union CEO Competency Course, Luzon (Open).

14-19 >Credit Union Directors' Competency Course, Luzon (Open).

21-26 >Professionalization, Visayas (Open).

28-2 >CURBES SIDs, Luzon (Open).

APRIL -

4-9 >Youth Programs -Aflatoun (Open).

11-16 >PFCCO General Assembly, Bicol (Open).

18-23 >HOLY WEEK

25-30 >Asian Confederation of Credit Unions, (ACCU) , 40th Anniversary, Bangkok, Thailand.

MAY -

2-7 >2nd National IT Summit, Davao City.

9-14 >Professionalization (Open).

16-21 >Credit Union Directors' Competency Course, Visayas (Open).

23-28 >Women Workshop (Open).

JUNE -

30-4 >Financial Literacy, Visayas (Open).

6-11 >Asian Development Educators' Program, Bangkok, Thailand.

13-18 >Credit Union CEO Competency Course (CUCCC), Luzon (Open).

20-25 >Professionalization, Visayas (Open).

27-1 >Credit Union CEO Competency Course (CUCCC), Visayas (Open).

JULY -

3-8 >CURBES SIDs, Luzon (Open).

10-15 >PFCCO Mid-year Assessment, Visayas (Open), Proposed: Bohol.

17-22 >Tot Governance, Luzon (Open).

24-29 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

AUGUST -

1-6 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

8-13 >Professionalization, Mindanao (Open).

15-20 >Credit Union CEO Competency Course (CUCCC), Dumaguete.

22-27 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

29-3 >CURBES SIDs, Luzon (Open).

SEPTEMBER -

5-10 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

12-17 >Credit Union Directors' Competency Course (CUDCC) , Dumaguete.

19-24 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

26-1 >ACCU Forum, Kuala Lumpur, Malaysia.

OCTOBER -COOPERATIVE MONTH

3-8 >Professionalization, Mindanao (Open).

10-15 >Financial Literacy, Mindanao (Open).

17-22 >CURBES SIDs, Mindanao (Open).

24-29 >Credit Union Directors' Competency Course (CUDCC) , Mindanao (Open).

NOVEMBER -

31-5 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

7-12 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

14-19 >Credit Union Directors' Competency Course, Cagayan de Oro.

21-26 >Credit Union CEO Competency Course (CUCCC) , Mindanao (Open).

DECEMBER -

28-3 >CURBES SIDs, Mindanao (Open).

5-10 >Credit Union CEO Competency Course (CUCCC), Cagayan de Oro.

12-17 >PFCCO Year-end Assessment, Mindanao (Open); Proposed:
Camiguin Island.

19-24 >Open for In-house & Road Tour Trainings; Requesting Primary
through Leagues.

26-31 >CHRISTMAS HOLIDAY SEASON

NOTE: In-house Training and Road Tour include:

1. Modules - Professionalization Program -Strategic Planning and
Management of Credit Unions.

2. Strategic Planning Annual Review.

3. Governance.

4. Financial Management.

5. Credit Administration and Delinquency Control.

6. Functional Trainings.

7. Human Resource Management.

8. Marketing and Product Development.

9. Labor laws and taxation.

10. Financial Life Planning.

11. Customer Relationship Management.

12. Risk Management. (END)

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