MABS Support Expands to Thrift Banks
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Micro Enterprise Bank (MEB), a Mindanao-based Microfinance Thrift bank, will receive MABS Approach Training and Technical Services to support the bank’s planned expansion in the number of bank branches and loan collection and disbursement points (LCDPs). The bank currently has three branches and plans to open 33 additional branches and LCDPs over the next three years.
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The provision of training and technical support was formalized during the signing of a Memorandum of Understanding (MOU) between USAID and Micro Enterprise Bank held on October 20 in Makati City. USAID/Philippines Mission Director Michael Yates, Micro Enterprise Bank Chairman Ambassador Jesus Tambunting, MABS Chief of Party John Owens, and Micro Enterprise Bank President Cecilia Dicdiquin signed the MOU.
In November, MABS will conduct MEB’s institutional assessment and the senior management orientation seminar on the MABS Approach.
MEB, which is jointly owned by the World Bank's International Finance Corporation, the Dutch government-controlled Netherlands Development Finance Company (FMO) and Plantersbank, was established in November 2001 to provide banking services to the entrepreneurial poor.
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USAID/Philippines Mission Director Michael Yates (right) and Micro Enterprise Bank Chairman Jesus Tambunting formalize USAID’s provision of technical support and training to Micro Enterprise Bank.
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