Three years ago (November 8, 2013), one of my sisters whose family is based in Tacloban City experienced the wrath of Super Typhoon Yolanda (a.k.a “Haiyan”) coupled with an unexpected vicious storm surge, leaving tens of thousands homeless, more than 6 thousand people killed and several properties destroyed. Everyone was in anxiety and panic mode at that time, hoping and praying that nobody was harmed. While my sister’s house in Tacloban wasn’t badly hit by the storm, their weekend staycation beach house located in a place in Samar (where Tacloban Airport can be viewed from afar) was completely washed into the … Continue reading Rebuilding Lives After “Yolanda”: The Third Year
Is Microfinance an effective financial strategy to eradicate poverty particularly in developing economies? I would blog on this as briefly and pragmatic as possible, as some of you may know that this topic is quite broad and would require empirical data/analysis to support any findings and recommendations. In its simplest terms, microfinance involves extending loans to a group of borrowers or individuals, specifically the marginalized sector of society involving poor people encountering difficulties to transact business with private and government banking institutions. In other words, these are the poor people throughout the world numbering over 1 billion living in rural areas … Continue reading Microfinance – A Hype or An Effective Financial Tool For the Poor?