USAID Administrator Visits RB Cotabato
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United States Agency for International Development (USAID) Administrator Andrew Natsios, with US Ambassador Francis Ricciardone and USAID/Philippines Mission Director Michael Yates, joined the celebration marking the first anniversary of the Rural Bank of Cotabato’s microfinance (MF) operations. The group was briefed on the bank’s MF program and its implementation of the MABS Approach. The visit to RB Cotabato, one of the MABS Program’s participating banks (PBs) servicing microenterprise clients in the Autonomous Region in Muslim Mindanao (ARMM) and Conflict Affected Areas in Mindanao (CAAM), was part of Mr. Natsios island-wide series of visits to USAID’s Mindanao development projects.
RB Cotabato has been offering its MF loan product, the Puhunan Loan, since September 2003. As part of the anniversary celebration, RB Cotabato awarded plaques of appreciation to 20 outstanding microborrowers.
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USAID Administrator Andrew Natsios (second row, fifth from left) joined the celebration marking the first anniversary of the Rural Bank of Cotabato’s MF operations. Also shown above, with RB Cotabato microloan clients are: Front row: (extreme left) RB Cotabato Directors Rosario Salvaña and Rebecca Lapeña (extreme right). Second row, left to right: Presidential Assistant for Mindanao and MEDCo Chairman Jesus Dureza, USAID/Philippines Mission Director Michael Yates, USAID Cognizant Technical Officer Teresita Espenilla, USAID Economic Growth Advisor Robert Barnes, US Ambassador Francis Ricciardone, ARMM Governor Parouk Hussin, RB Cotabato President Edsel Salvaña, RB Cotabato Corporate Secretary Pamela Tanghal, and RB Cotabato Director Isidro Lapeña.
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