The Rural Bankers Research and Development Foundation Inc. (RBRDFI) of the Philippines will receive a USD 100,000 grant from the International Labor Organization (ILO) under its Microinsurance Innovation Facility. The facility was launched in 2008 with a grant received from the Bill and Melinda Gates Foundation, a US-based nonprofit supporting global health and development which reported total assets of USD 34 billion as of September 2009. The RBRDFI is the research arm of the Rural Bankers Association of the Philippines (RBAP), a rural banking network in the Philippines responsible for bringing the banking system to rural communities.
The grant is intended to support the RBAP members in partnering with insurance companies. The grant will support training and technical assistance for rural banks to become licensed microinsurance agents in order to sell and service microinsurance in rural communities, while commercial insurance companies will issue the policies.
By Jennifer Shevock, Research Associate
About the Rural Bankers Research and Development Foundation Inc. (Philippines):
The mission of the Rural Bankers Research and Development Foundation Inc.’s (RBRDFI) of the Philippines is to deliver financial services to rural customers through a strong and responsive rural banking system. Its main objectives are setting standards for innovation and excellence in rural banking and partnering with government in the development and implementation of policies and legislation that support rural economic development.
About the International Labor Organization:
The International Labor Organization is an agency of the United Nations whose objective is to advance opportunities for men and women to obtain decent and productive work in conditions of freedom, equity, security and human dignity. Its founding mission is that labor peace is critical to prosperity.
About Bill and Melinda Gates Foundation:
The Bill & Melinda Gates Foundation provides grants to organizations in approximately 100 countries with the aim of enhancing health care, reducing poverty and expanding educational opportunities and access to information technology. As of September 2009, the asset trust endowment totaled USD 34.17 billion. USD 21.08 billion in grants has been committed since the foundation’s inception in 1994.
Sources and Additional Resources:
“ILO, Gates Foundation assist rural banks” August 17, 2010. http://www.philstar.com/Article.aspx?articleId=603394&publicationSubCategoryId=74
MicroCapital Universe: The Rural Bankers Research and Development Foundation Inc.: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Rural+Bankers+Research+and+Development+Foundation+Inc.+%28RBRDFI
MicroCapital Universe: International Labor Organization: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Labor+Organization
MicroCapital Universe: Bill and Melinda Gates Foundation: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bill+and+Melinda+Gates+Foundation
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: UNCDF, Bill & Melinda Gates Foundation Launch Mobile Money Program in Ethiopia
- MICROCAPITAL BRIEF: Credit Bank, FSD Kenya Engaging SACCOs in Effort to Reduce Remittance Costs for Rural Kenyans
- MICROCAPITAL BRIEF: KosInvest Borrows $650k from Grameen Crédit Agricole for Microfinance in Kosovo
- MICROCAPITAL BRIEF: First Consult, Mastercard Foundation, Seek to Create 400k Jobs in Ethiopia via Access to Finance, Wraparound Support for MSMEs, Entrepreneurs
- MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $3.2m to Faten for Microfinance in Palestine
