Sunday, August 30, 2009
Countries - forest facts by country
Countries - forest facts by country: "This web site offers forest facts and information on forests and forestry, by country, for some 200 countries and areas in the world."
An overview of forest products statistics in South and Southeast Asia
An overview of forest products statistics in South and Southeast Asia: "National forest products statistics, Philippines
Introduction
Forest is regarded as an important resource for development in the Philippines. Its vast expanse provides a vital economic base for a large portion of the population. It is also home to a wide range of flora and fauna, provides raw material for forest-based industries and furnishes the people and the economy of the Philippines with recreation areas, eco-tourism sites and a host of other benefits. As a result of the government’s conservation policy, the Philippines is now a net importer of wood products, having previously had an export-oriented forestry sector for many years.
Forest resources
As of 2000, forestlands in the Philippines comprised 15.8 million ha or 53 percent of the total area of the country. Alienable and disposable lands make up the remaining 14.2 million ha or 47 percent of the land area. The latest statistics estimate the country’s forest area at 5.4 million ha or roughly 18 percent of the total land area. Table 1 shows the break down of the national forest area by forest type."
Introduction
Forest is regarded as an important resource for development in the Philippines. Its vast expanse provides a vital economic base for a large portion of the population. It is also home to a wide range of flora and fauna, provides raw material for forest-based industries and furnishes the people and the economy of the Philippines with recreation areas, eco-tourism sites and a host of other benefits. As a result of the government’s conservation policy, the Philippines is now a net importer of wood products, having previously had an export-oriented forestry sector for many years.
Forest resources
As of 2000, forestlands in the Philippines comprised 15.8 million ha or 53 percent of the total area of the country. Alienable and disposable lands make up the remaining 14.2 million ha or 47 percent of the land area. The latest statistics estimate the country’s forest area at 5.4 million ha or roughly 18 percent of the total land area. Table 1 shows the break down of the national forest area by forest type."
Responding to Emergencies | WFP | United Nations World Food Programme - Fighting Hunger Worldwide
Responding to Emergencies | WFP | United Nations World Food Programme - Fighting Hunger Worldwide: "Whether refugees are fleeing war, floods are washing away homes or drought is destroying farmland, hunger is often the first emergency."
United Nations: Humanitarian Affairs
United Nations: Humanitarian Affairs: "Internally Displaced Persons (IDPs) receive food supplied by the World Food Program (WFP) and the UN Children's Fund (UNICEF). Almost 1 per cent of the 6.7 billion people in the world are now displaced within their own countries."
United Nations Foundation » Video: It Just Takes Two Drops
United Nations Foundation » Video: It Just Takes Two Drops: "The UN Foundation’s participation in the Global Polio Eradication Initiative includes providing $200 million to reduce the geographic range of polio from 30 to 4 countries, and helping to deliver 10 billion doses of polio vaccine to more than 2 billion children.
With key partners, we strive to raise funds and awareness, advance the policies of national governments and international agencies, and support the leadership of UN agencies. We count on our work to help bring polio to the brink of eradication as one of our proudest accomplishments, and every year we’re one step closer to our goal. As the video below shows, it just takes two drops."
With key partners, we strive to raise funds and awareness, advance the policies of national governments and international agencies, and support the leadership of UN agencies. We count on our work to help bring polio to the brink of eradication as one of our proudest accomplishments, and every year we’re one step closer to our goal. As the video below shows, it just takes two drops."
Thursday, August 27, 2009
Manila Water eyes Cebu concession
Manila Water eyes Cebu concession: "Written by Miguel R. Camus / Reporter
Thursday, 13 August 2009 01:16
METRO Manila’s east zone concessionaire Manila Water Co. Inc. (MWCI) is formally eying the Cebu market after saying it submitted an unsolicited plan to build a bulk water facility in the Visayan island, considered an underserved market.
In a disclosure on Wednesday, MWCI said the proposal called the Cebu Bulk Water Supply Project will supply 35 million liters of potable water per day to meet supply requirements in Cebu cities and municipalities, namely: Danao, Compostela, Liloan, Consolacion, Mandaue, Lapu Lapu and Cordova.
“Currently, these areas are being underserved,” said MWCI in a statement, adding that the water will be sourced from the Luyang River, of the municipality of Carmen.
MWCI said should the project proceed as planned, it will be built in a joint venture with the provincial government of Cebu and will be subject to the province’s joint investment guidelines.
The Ayala-led firm added that salient features of the proposal include a “no-take-or-pay provision” and the turnover of all the Cebu project’s assets once the 25-year cooperation period has lapsed.
MWCI said the proposal aims to replicate its role in Metro Manila’s east zone to lessen the “overextraction” of groundwater in Cebu, currently the province’s main source of potable water.
The company’s concession area encompasses parts of Manila, San Juan, Taguig, Pateros, Antipolo, Taytay, Jala-Jala, Baras, Angono, San Mateo, Rodriquez, Marikina, Pasig, Mandaluyong, Makati and most of Quezon City.
Regulator Metropolitan Waterworks and Sewerage System recently granted the extension of the company’s east-zone concession by another 15 years from 2022 to 2037."
Thursday, 13 August 2009 01:16
METRO Manila’s east zone concessionaire Manila Water Co. Inc. (MWCI) is formally eying the Cebu market after saying it submitted an unsolicited plan to build a bulk water facility in the Visayan island, considered an underserved market.
In a disclosure on Wednesday, MWCI said the proposal called the Cebu Bulk Water Supply Project will supply 35 million liters of potable water per day to meet supply requirements in Cebu cities and municipalities, namely: Danao, Compostela, Liloan, Consolacion, Mandaue, Lapu Lapu and Cordova.
“Currently, these areas are being underserved,” said MWCI in a statement, adding that the water will be sourced from the Luyang River, of the municipality of Carmen.
MWCI said should the project proceed as planned, it will be built in a joint venture with the provincial government of Cebu and will be subject to the province’s joint investment guidelines.
The Ayala-led firm added that salient features of the proposal include a “no-take-or-pay provision” and the turnover of all the Cebu project’s assets once the 25-year cooperation period has lapsed.
MWCI said the proposal aims to replicate its role in Metro Manila’s east zone to lessen the “overextraction” of groundwater in Cebu, currently the province’s main source of potable water.
The company’s concession area encompasses parts of Manila, San Juan, Taguig, Pateros, Antipolo, Taytay, Jala-Jala, Baras, Angono, San Mateo, Rodriquez, Marikina, Pasig, Mandaluyong, Makati and most of Quezon City.
Regulator Metropolitan Waterworks and Sewerage System recently granted the extension of the company’s east-zone concession by another 15 years from 2022 to 2037."
Maynilad opposes ‘take-or-pay’ for Laiban project | Manila Bulletin
Maynilad opposes ‘take-or-pay’ for Laiban project | Manila Bulletin:
"HONG KONG – Maynilad Water Services Inc., the water utility controlled by First Pacific Company through Philippine unit Metro Pacific Investments Corporation, is opposed to the “take-or-pay” provision in the proposed $1-billion Laiban Dam project because of concerns over the effects of the expected hike in water rates.
During a press update, MPIC president Jose Ma. Lim noted that water concessionaires no longer need the water that will be provided by Laiban Dam since reduction in non-revenue water has allowed them to stretch current supply.
Maynilad president Rogelio Singson also pointed out that there are alternative water sources and two proponents have already submitted proposals to source water from Sierra Madre and the Wawa rivers.
While noting that they do not have the specifics of the proposal submitted by San Miguel Bulkwater for the Laiban project, they estimate that the take-or-pay provision will add P10 per cubic meter to the current cost of P27 per cubic meter.
Maynilad chief finance officer Randolph Estrellado said they estimate a cost recovery period of 7 years for the P50-billion project and, at P6.9 billion per year, this will translate to an additional P10 per cubic meter.
Singson said higher costs will lead to a drop in consumption and this will adversely affect their earnings as both industrial and residential customers may shift to alternative water supplies.
He said that while they also do not have the details of the proposals for Sierra Madre and Wawa, they have been assured that the take-or-pay provisions in these proposals will not cost as much while the water to be supplied by this project will approximate the volume committed for the Laiban Dam project.
Singson said while Maynilad is willing to let the government, through the Metropolitan Waterworks and Sewerage System undertake water supply projects and just pay concession fees, they are not entirely closing the door to the possibility of under-taking one on their own."
"HONG KONG – Maynilad Water Services Inc., the water utility controlled by First Pacific Company through Philippine unit Metro Pacific Investments Corporation, is opposed to the “take-or-pay” provision in the proposed $1-billion Laiban Dam project because of concerns over the effects of the expected hike in water rates.
During a press update, MPIC president Jose Ma. Lim noted that water concessionaires no longer need the water that will be provided by Laiban Dam since reduction in non-revenue water has allowed them to stretch current supply.
Maynilad president Rogelio Singson also pointed out that there are alternative water sources and two proponents have already submitted proposals to source water from Sierra Madre and the Wawa rivers.
While noting that they do not have the specifics of the proposal submitted by San Miguel Bulkwater for the Laiban project, they estimate that the take-or-pay provision will add P10 per cubic meter to the current cost of P27 per cubic meter.
Maynilad chief finance officer Randolph Estrellado said they estimate a cost recovery period of 7 years for the P50-billion project and, at P6.9 billion per year, this will translate to an additional P10 per cubic meter.
Singson said higher costs will lead to a drop in consumption and this will adversely affect their earnings as both industrial and residential customers may shift to alternative water supplies.
He said that while they also do not have the details of the proposals for Sierra Madre and Wawa, they have been assured that the take-or-pay provisions in these proposals will not cost as much while the water to be supplied by this project will approximate the volume committed for the Laiban Dam project.
Singson said while Maynilad is willing to let the government, through the Metropolitan Waterworks and Sewerage System undertake water supply projects and just pay concession fees, they are not entirely closing the door to the possibility of under-taking one on their own."
The Manila Times Internet Edition | TOP STORIES > ADB’s old offer to help Laiban rejected
The Manila Times Internet Edition | TOP STORIES > ADB’s old offer to help Laiban rejected:
"The Metropolitan Waterworks and Sewerage System (MWSS), more than two years ago, removed from Asian Development Bank (ADB) the “preparatory works” of the Laiban Dam Project that could be funded by the Manila-based bank.
In a report, “MWSS New Water Source Development Project,” the ADB said that the preparatory works for the dam that were supposed to be funded by its $3.26-million technical assistance (TA) loan were cancelled by MWSS, the regulator of water utilities in Metro Manila.
The ADB assistance aimed to hire consultants to prepare public- and private-sector projects involving development of new water sources for Metro Manila that could be financed by the bank, the private sector or other sources.
It called for a study of resettlement plans, a review of design and tender documents and an arrangement of financing for the project.
“In January 2007, at the request of MWSS, the LDP [Laiban] preparation component was removed from the scope of the TA loan, since MWSS had sought financing for the component from other sources,” ADB said.
It added that private concessionaires financed the consulting work for Laiban. But the ADB did not disclose the name of the private concessionaires.
Because of the removal of the preparation component, ADB approved a major change in scope and the partial cancellation of loan proceeds amounting to $1.875 million.
Water shortage
The report said that a water supply deficit of 120 million liters per day (MLD) is expected by 2013 onward if no new water sources are developed by then.
“Without the expected 1,900 MLD of water from Laiban dam, a major project under consideration since 1979, MWSS believes that the water supply deficit for the city could reach 1,363 MLD by 2020,” the ADB said.
In 2008, Metro Manila was supplied with about 4,021 million liters per day of water, which depends on one water source, the Angat reservoir.
Implementation of the $1-billion Laiban Dam Project may be delayed because the National Economic and Development Authority (NEDA) has expressed reservation on the take-or-pay provision in the proposal of San Miguel Corp. (SMC) through its wholly owned unit San Miguel Bulk Water Co. Inc.
San Miguel had submitted an unsolicited offer to MWSS for a joint-venture project to develop the $1-billion project in Rizal province, north of Manila.
The Authority’s director general and socioeconomic planning secretary, Ralph Recto, had said that the take-or-pay proposal of San Miguel could be “construed as direct government guarantee with the government guaranteeing market risks by the private proponent.”
MWSS and the Office of the Government Corporate Counsel said that a take-or-pay arrangement is not a direct government guarantee.
And during an earlier interview, Ramon Ang, San Miguel president and chief executive, said that there was no take-or-pay proposal made to MWSS.
--Darwin G. Amojelar"
"The Metropolitan Waterworks and Sewerage System (MWSS), more than two years ago, removed from Asian Development Bank (ADB) the “preparatory works” of the Laiban Dam Project that could be funded by the Manila-based bank.
In a report, “MWSS New Water Source Development Project,” the ADB said that the preparatory works for the dam that were supposed to be funded by its $3.26-million technical assistance (TA) loan were cancelled by MWSS, the regulator of water utilities in Metro Manila.
The ADB assistance aimed to hire consultants to prepare public- and private-sector projects involving development of new water sources for Metro Manila that could be financed by the bank, the private sector or other sources.
It called for a study of resettlement plans, a review of design and tender documents and an arrangement of financing for the project.
“In January 2007, at the request of MWSS, the LDP [Laiban] preparation component was removed from the scope of the TA loan, since MWSS had sought financing for the component from other sources,” ADB said.
It added that private concessionaires financed the consulting work for Laiban. But the ADB did not disclose the name of the private concessionaires.
Because of the removal of the preparation component, ADB approved a major change in scope and the partial cancellation of loan proceeds amounting to $1.875 million.
Water shortage
The report said that a water supply deficit of 120 million liters per day (MLD) is expected by 2013 onward if no new water sources are developed by then.
“Without the expected 1,900 MLD of water from Laiban dam, a major project under consideration since 1979, MWSS believes that the water supply deficit for the city could reach 1,363 MLD by 2020,” the ADB said.
In 2008, Metro Manila was supplied with about 4,021 million liters per day of water, which depends on one water source, the Angat reservoir.
Implementation of the $1-billion Laiban Dam Project may be delayed because the National Economic and Development Authority (NEDA) has expressed reservation on the take-or-pay provision in the proposal of San Miguel Corp. (SMC) through its wholly owned unit San Miguel Bulk Water Co. Inc.
San Miguel had submitted an unsolicited offer to MWSS for a joint-venture project to develop the $1-billion project in Rizal province, north of Manila.
The Authority’s director general and socioeconomic planning secretary, Ralph Recto, had said that the take-or-pay proposal of San Miguel could be “construed as direct government guarantee with the government guaranteeing market risks by the private proponent.”
MWSS and the Office of the Government Corporate Counsel said that a take-or-pay arrangement is not a direct government guarantee.
And during an earlier interview, Ramon Ang, San Miguel president and chief executive, said that there was no take-or-pay proposal made to MWSS.
--Darwin G. Amojelar"
Group says new dam project to hike Metro water rates | Manila Bulletin
Group says new dam project to hike Metro water rates | Manila Bulletin:
"Debt watchdog Freedom from Debt Coalition urged the government to abandon the proposed development of Laiban Dam in Rizal province, saying that the project would be disadvantageous to more than 12 million consumers who will pay P18 to P20 more per cubic meter of water.
FDC advocacy coordinator Dianne Roa said residents of Metro Manila and other areas served by concessionaires Maynilad Water Services Inc. (MWSI) and Manila Water Company Inc. (MWCI) will bear the brunt of rate adjustment attributed to the proposed project.
“Each household that consumes around 30 cubic meters of water has to shell out an additional P540 to P600 monthly should this proposed project push through,” Roa said.
The group also criticized the “take-or-pay” provision cited under the joint venture agreement between the Metropolitan Waterworks and Sewerage System (MWSS) and San Miguel Bulk Water Co., the project proponent.
“Such a provision provides for the payment of a specified volume of water supply each day, and burdens the buyer (MWSS) with the associated risks related to the inaccuracy of any supply-and-demand projections,” Roa explained.
She pointed out two scenarios by which such a provision is disadvantageous to MWSS consumers.
“Firstly, if the supply projection exceeds the actual volume that can actually be depended on daily from the water supply project, MWSS may find itself paying for volumes of water that are not actually delivered,” Roa said, citing that the Laiban Dam project has a supply projection of 1,900 million liters per day.
“The MWSS will therefore undertake the hydrology risk of the project and commit itself to paying a specific sum, regardless of the actual supply that is extracted from the reservoir,” she added.
In the second scenario, Roa said, the over-estimation of demand projections “will lead to an oversupply of water, therefore the 1,900 million liters per day to be supplied will not actually be consumed.”
“With a take-or-pay provision in place, MWSS consumers will have to shoulder the costs of the excess water supply,” she stressed."
"Debt watchdog Freedom from Debt Coalition urged the government to abandon the proposed development of Laiban Dam in Rizal province, saying that the project would be disadvantageous to more than 12 million consumers who will pay P18 to P20 more per cubic meter of water.
FDC advocacy coordinator Dianne Roa said residents of Metro Manila and other areas served by concessionaires Maynilad Water Services Inc. (MWSI) and Manila Water Company Inc. (MWCI) will bear the brunt of rate adjustment attributed to the proposed project.
“Each household that consumes around 30 cubic meters of water has to shell out an additional P540 to P600 monthly should this proposed project push through,” Roa said.
The group also criticized the “take-or-pay” provision cited under the joint venture agreement between the Metropolitan Waterworks and Sewerage System (MWSS) and San Miguel Bulk Water Co., the project proponent.
“Such a provision provides for the payment of a specified volume of water supply each day, and burdens the buyer (MWSS) with the associated risks related to the inaccuracy of any supply-and-demand projections,” Roa explained.
She pointed out two scenarios by which such a provision is disadvantageous to MWSS consumers.
“Firstly, if the supply projection exceeds the actual volume that can actually be depended on daily from the water supply project, MWSS may find itself paying for volumes of water that are not actually delivered,” Roa said, citing that the Laiban Dam project has a supply projection of 1,900 million liters per day.
“The MWSS will therefore undertake the hydrology risk of the project and commit itself to paying a specific sum, regardless of the actual supply that is extracted from the reservoir,” she added.
In the second scenario, Roa said, the over-estimation of demand projections “will lead to an oversupply of water, therefore the 1,900 million liters per day to be supplied will not actually be consumed.”
“With a take-or-pay provision in place, MWSS consumers will have to shoulder the costs of the excess water supply,” she stressed."
BusinessWorld Online: Water utility joins growing opposition vs 'take or pay' in Laiban dam contract
BusinessWorld Online: Water utility joins growing opposition vs 'take or pay' in Laiban dam contract:
"MAYNILAD WATER Services, Inc. has joined other groups in voicing concern over the 'take or pay' provision in San Miguel Corp.’s proposal to build the Laiban dam, saying this might be detrimental to consumers.
'The real score is that we did submit a proposal for a new water source two years ago but we proposed that [regulator] Metropolitan Waterworks Sewerage System (MWSS) undertake it with the two concessionaires under a ’concession fee arrangement’ as opposed to ’take or pay’,' Maynilad President Rogelio L. Singson said in a briefing over the weekend.
The difference, he said, is that under the concession fee arrangement, the loan amortization to be paid by the MWSS will be spread, as against a take-or-pay scheme where consumers will be slapped with a fee whether they consume the water or not."
"MAYNILAD WATER Services, Inc. has joined other groups in voicing concern over the 'take or pay' provision in San Miguel Corp.’s proposal to build the Laiban dam, saying this might be detrimental to consumers.
'The real score is that we did submit a proposal for a new water source two years ago but we proposed that [regulator] Metropolitan Waterworks Sewerage System (MWSS) undertake it with the two concessionaires under a ’concession fee arrangement’ as opposed to ’take or pay’,' Maynilad President Rogelio L. Singson said in a briefing over the weekend.
The difference, he said, is that under the concession fee arrangement, the loan amortization to be paid by the MWSS will be spread, as against a take-or-pay scheme where consumers will be slapped with a fee whether they consume the water or not."
Housing Microfinance Programs
Housing Microfinance Programs: "All over the world, people at every income level want a home where they and their families can live in security and comfort. Poor families are no different, yet traditional housing finance systems fail poor families in many ways. Mortgage lenders in most developing countries are scarce and focus on the middle- and upper-market segments. Traditional mortgages are unaffordable and inaccessible for households with informal incomes and informal titles. Government programs, where available, reach only a fraction of those in need."
Blackbaud NetCommunity
Blackbaud NetCommunity:
Assisting Commercial Banks to Start Microfinance Programs
Benefits to Institution | Our Services | Contact Us
Commercial banks, with their extensive physical, financial and human resources, can launch and expand microfinance services more efficiently and relatively less expensively than pure start-ups. Retail-oriented banks with large branch networks can distribute fixed costs among many financial products and reach economies of scale in microfinance quickly. However, most banks lack experience with the microfinance market and its clientele, and often dismiss this segment as too risky and too expensive. Banks also lack the appropriate credit methodologies to reach this sector successfully. With a conservative outlook, banks may tend to burden microfinance with policies and procedures that prevent its success.
Benefits to Institution
When the obstacles that have traditionally kept commercial banks out of microfinance are overcome, banks can be highly competitive in the microfinance arena because of their low cost structure, branch network and access to human and financial resources. They can bring benefits to microfinance customers including potentially lower prices and a full array of financial services.
ACCION’s Services
ACCION uses several models to work with banks interested in microfinance:
1. An internal unit within the bank;
2. A financial subsidiary;
3. A Private Service Company;
4. Creation of new MFIs with bank co-investors.
The basis for choosing among the above models is a combination of the macroeconomic environment in each country, existing legal frameworks, cost efficiency considerations and additional variables. Each of the models has distinct legal structures. The legal structures suggest but do not dictate the operational structure. Yet operational structure choices are critical to the ability of the microfinance operation to build upon the advantages of the bank.
The Private Service Company Model, developed by ACCION, is emerging as the most advantageous and often most applicable model and, therefore, warrants further description. ACCION has implemented this model with Banco del Pichincha, the largest bank in Ecuador, Sogebank, the largest bank in Haiti, and ABN AMRO in Brazil. In this model, an established bank sets up a subsidiary to handle microfinance transactions. The service company seeks and identifies borrowers and writes the loans, which are carried on the books of the bank. The service company can draw on some of the established services of the bank, such as back office support, infrastructure, and branding, as well as capital. At the same time, the microfinance unit hires and trains staff in microfinance, removing the administrative burden of managing the microcredit program from the day-to-day responsibilities of the bank.
Introducing microfinance to a commercial bank entails two stages:
1. Pre-operational stage (10 – 12 months): This work requires an initial stage of analyzing the structure of the commercial bank, increasing their knowledge about microfinance, selecting the most appropriate model to them and negotiating parameters.
2. Operational stage (up to 12 months): This stage consists of structuring the microfinance model in the bank and deploying the technical support for the start-up of operations in the following areas:
* Credit methodology, including individual, group and communal bank loans;
* Analysis and re-engineering of credit methodologies, including information processing, credit evaluation, approval processes and branch and central office management structures;
* Management and loan officer training to ensure consistent processes and application of credit policies;
* Human resources management, including establishing personnel policies, compensation and incentive systems, staff development plans, and writing policies, job descriptions and management procedures manuals;
* Developing internal systems and controls;
* Increased operational efficiency by re-engineering processes and/or introduction of cost saving technologies, particularly use of Palm Pilots and credit scoring;
* Piloting and deploying new financial products, particularly housing improvement, rural products and savings;
* Market research and marketing planning to improve customer acquisition, satisfaction and retention;
* Development and implementation of new information technologies.
ACCION will underwrite the success of the new institution in two ways: 1) co-investing in the new institution with the bank in order to share risk; and, 2) pricing technical assistance services in two parts; a fixed fee to cover basic operational cost and a success fee based on the financial results of the project.
Contact Us
For more information about ACCION’s commercial banking services or other technical assistance services, please contact:
ACCION International Headquarters
56 Roland Street, Suite 300
Charlestown, MA 02129
Tel: (617) 625-7080
Fax: (617) 625-7020
Centro ACCION, Latin American Headquarters
Calle 70 A N° 7-81
Bogotá, Colombia
Tel: (571) 607-0700
Fax: (571) 607-0701"
Assisting Commercial Banks to Start Microfinance Programs
Benefits to Institution | Our Services | Contact Us
Commercial banks, with their extensive physical, financial and human resources, can launch and expand microfinance services more efficiently and relatively less expensively than pure start-ups. Retail-oriented banks with large branch networks can distribute fixed costs among many financial products and reach economies of scale in microfinance quickly. However, most banks lack experience with the microfinance market and its clientele, and often dismiss this segment as too risky and too expensive. Banks also lack the appropriate credit methodologies to reach this sector successfully. With a conservative outlook, banks may tend to burden microfinance with policies and procedures that prevent its success.
Benefits to Institution
When the obstacles that have traditionally kept commercial banks out of microfinance are overcome, banks can be highly competitive in the microfinance arena because of their low cost structure, branch network and access to human and financial resources. They can bring benefits to microfinance customers including potentially lower prices and a full array of financial services.
ACCION’s Services
ACCION uses several models to work with banks interested in microfinance:
1. An internal unit within the bank;
2. A financial subsidiary;
3. A Private Service Company;
4. Creation of new MFIs with bank co-investors.
The basis for choosing among the above models is a combination of the macroeconomic environment in each country, existing legal frameworks, cost efficiency considerations and additional variables. Each of the models has distinct legal structures. The legal structures suggest but do not dictate the operational structure. Yet operational structure choices are critical to the ability of the microfinance operation to build upon the advantages of the bank.
The Private Service Company Model, developed by ACCION, is emerging as the most advantageous and often most applicable model and, therefore, warrants further description. ACCION has implemented this model with Banco del Pichincha, the largest bank in Ecuador, Sogebank, the largest bank in Haiti, and ABN AMRO in Brazil. In this model, an established bank sets up a subsidiary to handle microfinance transactions. The service company seeks and identifies borrowers and writes the loans, which are carried on the books of the bank. The service company can draw on some of the established services of the bank, such as back office support, infrastructure, and branding, as well as capital. At the same time, the microfinance unit hires and trains staff in microfinance, removing the administrative burden of managing the microcredit program from the day-to-day responsibilities of the bank.
Introducing microfinance to a commercial bank entails two stages:
1. Pre-operational stage (10 – 12 months): This work requires an initial stage of analyzing the structure of the commercial bank, increasing their knowledge about microfinance, selecting the most appropriate model to them and negotiating parameters.
2. Operational stage (up to 12 months): This stage consists of structuring the microfinance model in the bank and deploying the technical support for the start-up of operations in the following areas:
* Credit methodology, including individual, group and communal bank loans;
* Analysis and re-engineering of credit methodologies, including information processing, credit evaluation, approval processes and branch and central office management structures;
* Management and loan officer training to ensure consistent processes and application of credit policies;
* Human resources management, including establishing personnel policies, compensation and incentive systems, staff development plans, and writing policies, job descriptions and management procedures manuals;
* Developing internal systems and controls;
* Increased operational efficiency by re-engineering processes and/or introduction of cost saving technologies, particularly use of Palm Pilots and credit scoring;
* Piloting and deploying new financial products, particularly housing improvement, rural products and savings;
* Market research and marketing planning to improve customer acquisition, satisfaction and retention;
* Development and implementation of new information technologies.
ACCION will underwrite the success of the new institution in two ways: 1) co-investing in the new institution with the bank in order to share risk; and, 2) pricing technical assistance services in two parts; a fixed fee to cover basic operational cost and a success fee based on the financial results of the project.
Contact Us
For more information about ACCION’s commercial banking services or other technical assistance services, please contact:
ACCION International Headquarters
56 Roland Street, Suite 300
Charlestown, MA 02129
Tel: (617) 625-7080
Fax: (617) 625-7020
Centro ACCION, Latin American Headquarters
Calle 70 A N° 7-81
Bogotá, Colombia
Tel: (571) 607-0700
Fax: (571) 607-0701"
LendingTree: Google to compete on loan referrals by AP: Yahoo! Tech
LendingTree: Google to compete on loan referrals by AP: Yahoo! Tech:
"LendingTree, which allows prospective borrowers to get quick offers from multiple lenders, claims Google is about to get into the same business.
A LendingTree lawsuit against a separate technology provider claims that it has learned Google plans to launch such a service later this month or in early September. The lawsuit claims that LendingTree has received screen shots — pictures of a computer screen — showing a trial version of Google's service that indicate Google will give customers loan offers and contact information for lenders.
Google Inc. issued a written statement Wednesday saying it is 'working on a small ad unit test' involving a limited number of mortgage-related searches.
'We have a number of experiments going on at any one time, but we don't speculate on future product development,' the company said.
Google has made several moves that lead it away from its core business of selling ads alongside Internet search results. Last month it altered its popular Google Maps page to highlight its real estate search tools.
Other experiments have included an operating system for mobile devices, and Google Voice, which gives people an additional phone number that's not tied to any one phone line. Earlier this year it unveiled a PowerMeter that homeowners can use to track energy use.
A Google move into the lending referral business would be one more step away from its core business, said Rob Enderle, an analyst for the Enderle Group.
'It could represent a solid threat to LendingTree, and a distraction for Google,' Enderle said.
LendingTree, a unit of Tree.com Inc., announced the lawsuit on Wednesday, a day after it was filed in U.S. District Court in Charlotte, N.C., where the company is based.
The lawsuit seeks an injunction against a company called Mortech Inc., which helps automate pricing by lenders who are offering loans. The lawsuit says Mortech works for lenders, not for LendingTree. But LendingTree claims Mortech signed an agreement limiting its ability to make pricing searches available to other online loan aggregators. LendingTree claims Mortech has broken that agreement by giving data related to mortgage offers to Google in connection with Google's testing.
'In the course of its collaboration with Google, Mortech will inevitably disclose the confidential, proprietary, and secret information that it has about LendingTree,' LendingTree claims in the court papers.
A Mortech spokeswoman as well as Google declined to comment on the lawsuit. A court hearing is planned for Sept. 2."
"LendingTree, which allows prospective borrowers to get quick offers from multiple lenders, claims Google is about to get into the same business.
A LendingTree lawsuit against a separate technology provider claims that it has learned Google plans to launch such a service later this month or in early September. The lawsuit claims that LendingTree has received screen shots — pictures of a computer screen — showing a trial version of Google's service that indicate Google will give customers loan offers and contact information for lenders.
Google Inc. issued a written statement Wednesday saying it is 'working on a small ad unit test' involving a limited number of mortgage-related searches.
'We have a number of experiments going on at any one time, but we don't speculate on future product development,' the company said.
Google has made several moves that lead it away from its core business of selling ads alongside Internet search results. Last month it altered its popular Google Maps page to highlight its real estate search tools.
Other experiments have included an operating system for mobile devices, and Google Voice, which gives people an additional phone number that's not tied to any one phone line. Earlier this year it unveiled a PowerMeter that homeowners can use to track energy use.
A Google move into the lending referral business would be one more step away from its core business, said Rob Enderle, an analyst for the Enderle Group.
'It could represent a solid threat to LendingTree, and a distraction for Google,' Enderle said.
LendingTree, a unit of Tree.com Inc., announced the lawsuit on Wednesday, a day after it was filed in U.S. District Court in Charlotte, N.C., where the company is based.
The lawsuit seeks an injunction against a company called Mortech Inc., which helps automate pricing by lenders who are offering loans. The lawsuit says Mortech works for lenders, not for LendingTree. But LendingTree claims Mortech signed an agreement limiting its ability to make pricing searches available to other online loan aggregators. LendingTree claims Mortech has broken that agreement by giving data related to mortgage offers to Google in connection with Google's testing.
'In the course of its collaboration with Google, Mortech will inevitably disclose the confidential, proprietary, and secret information that it has about LendingTree,' LendingTree claims in the court papers.
A Mortech spokeswoman as well as Google declined to comment on the lawsuit. A court hearing is planned for Sept. 2."
Wednesday, August 26, 2009
List of private equity firms - Wikipedia, the free encyclopedia
List of private equity firms - Wikipedia, the free encyclopedia: "List of private equity firms
From Wikipedia, the free encyclopedia
Largest private equity firms
The following is a ranking of the largest private equity firms. The ranking was compiled by Private Equity International, which reveals that the world's 50 largest private equity direct investment programs have raised a total of US$551 billion since 2002.[1]
Rank ↓ Name of the firm ↓ Headquarters ↓ Capital Raised as of 2007 (billions of USD) ↓
1 The Carlyle Group Flag of the United States Washington DC $ 32.5
2 Kohlberg Kravis Roberts Flag of the United States New York $ 31.1
3 Goldman Sachs Principal Investment Area Flag of the United States New York $ 31.0
4 The Blackstone Group Flag of the United States New York $ 28.36
5 TPG Capital Flag of the United States Fort Worth $ 23.5
6 Permira Flag of the United Kingdom London $ 21.47
7 Apax Partners Flag of the United Kingdom London $ 18.85
8 Bain Capital Flag of the United States Boston $ 17.3
9 Providence Equity Partners Flag of the United States Providence, RI $ 16.36
10 CVC Capital Partners Flag of the United Kingdom London $ 15.65
11 Cinven Flag of the United Kingdom London $ 15.07
12 Apollo Management Flag of the United States New York $ 13.9
13 3i Group Flag of the United Kingdom London $ 13.37
14 Warburg Pincus Flag of the United States New York $ 13.3
15 Terra Firma Capital Partners Flag of the United Kingdom London $ 12.9
16 Hellman & Friedman Flag of the United States San Francisco $ 12.0
17 CCMP Capital Flag of the United States New York $ 11.7
18 General Atlantic Flag of the United States Greenwich, CT $ 11.4
19 Silver Lake Partners Flag of the United States Menlo Park, CA $ 11.0
20 Teachers' Private Capital Flag of Canada Toronto $ 10.78
21 EQT Partners Flag of Sweden Stockholm $ 10.28
22 First Reserve Corporation Flag of the United States Greenwich, CT $ 10.1
23 American Capital Flag of the United States Bethesda, MD $ 9.57
24 Charterhouse Capital Partners Flag of the United Kingdom London $ 9.0
25 Lehman Brothers Merchant Banking Flag of the United States New York $ 8.5
26 Candover Flag of the United Kingdom London $ 8.29
27 Fortress Investment Group Flag of the United States New York $ 8.26
28 Sun Capital Partners Flag of the United States Boca Raton, FL $ 8.0
29 BC Partners Flag of the United Kingdom London $ 7.9
30 Thomas H. Lee Partners Flag of the United States Boston $ 7.5
31 Leonard Green & Partners Flag of the United States Los Angeles $ 7.15
32 Madison Dearborn Partners Flag of the United States Chicago $ 6.5
33 Onex Flag of Canada Toronto $ 6.3
34 Cerberus Capital Management Flag of the United States New York $ 6.1
35 PAI Partners Flag of France Paris $ 6.05
36 Bridgepoint Capital Flag of the United Kingdom London $ 6.05
37 Doughty Hanson & Co Flag of the United Kingdom London $ 5.9
38 AlpInvest Partners Flag of the Netherlands Amsterdam $ 5.4
39 TA Associates Flag of the United States Boston $ 5.2
40 Berkshire Partners Flag of the United States Boston $ 4.8
41 Pacific Equity Partners Flag of Australia Sydney $ 4.74
42 Welsh, Carson, Anderson & Stowe Flag of the United States New York $ 4.7
43 Advent International Flag of the United StatesBoston $ 4.6
44 GTCR Golder Rauner Flag of the United StatesChicago $ 4.6
45 Nordic Capital Flag of Sweden Stockholm $ 4.54
46 Oak Investment Partners Flag of the United StatesPalo Alto, CA $ 4.06
47 Clayton, Dubilier & Rice Flag of the United States New York $ 4.0
48 AAC Capital Partners (ABN Amro Capital)[2] Flag of the Netherlands Amsterdam $ 3.93
49 Oaktree Capital Management Flag of the United States Los Angeles $ 3.93
50 Summit Partners Flag of the United States Boston $ 3.88
From Wikipedia, the free encyclopedia
Largest private equity firms
The following is a ranking of the largest private equity firms. The ranking was compiled by Private Equity International, which reveals that the world's 50 largest private equity direct investment programs have raised a total of US$551 billion since 2002.[1]
Rank ↓ Name of the firm ↓ Headquarters ↓ Capital Raised as of 2007 (billions of USD) ↓
1 The Carlyle Group Flag of the United States Washington DC $ 32.5
2 Kohlberg Kravis Roberts Flag of the United States New York $ 31.1
3 Goldman Sachs Principal Investment Area Flag of the United States New York $ 31.0
4 The Blackstone Group Flag of the United States New York $ 28.36
5 TPG Capital Flag of the United States Fort Worth $ 23.5
6 Permira Flag of the United Kingdom London $ 21.47
7 Apax Partners Flag of the United Kingdom London $ 18.85
8 Bain Capital Flag of the United States Boston $ 17.3
9 Providence Equity Partners Flag of the United States Providence, RI $ 16.36
10 CVC Capital Partners Flag of the United Kingdom London $ 15.65
11 Cinven Flag of the United Kingdom London $ 15.07
12 Apollo Management Flag of the United States New York $ 13.9
13 3i Group Flag of the United Kingdom London $ 13.37
14 Warburg Pincus Flag of the United States New York $ 13.3
15 Terra Firma Capital Partners Flag of the United Kingdom London $ 12.9
16 Hellman & Friedman Flag of the United States San Francisco $ 12.0
17 CCMP Capital Flag of the United States New York $ 11.7
18 General Atlantic Flag of the United States Greenwich, CT $ 11.4
19 Silver Lake Partners Flag of the United States Menlo Park, CA $ 11.0
20 Teachers' Private Capital Flag of Canada Toronto $ 10.78
21 EQT Partners Flag of Sweden Stockholm $ 10.28
22 First Reserve Corporation Flag of the United States Greenwich, CT $ 10.1
23 American Capital Flag of the United States Bethesda, MD $ 9.57
24 Charterhouse Capital Partners Flag of the United Kingdom London $ 9.0
25 Lehman Brothers Merchant Banking Flag of the United States New York $ 8.5
26 Candover Flag of the United Kingdom London $ 8.29
27 Fortress Investment Group Flag of the United States New York $ 8.26
28 Sun Capital Partners Flag of the United States Boca Raton, FL $ 8.0
29 BC Partners Flag of the United Kingdom London $ 7.9
30 Thomas H. Lee Partners Flag of the United States Boston $ 7.5
31 Leonard Green & Partners Flag of the United States Los Angeles $ 7.15
32 Madison Dearborn Partners Flag of the United States Chicago $ 6.5
33 Onex Flag of Canada Toronto $ 6.3
34 Cerberus Capital Management Flag of the United States New York $ 6.1
35 PAI Partners Flag of France Paris $ 6.05
36 Bridgepoint Capital Flag of the United Kingdom London $ 6.05
37 Doughty Hanson & Co Flag of the United Kingdom London $ 5.9
38 AlpInvest Partners Flag of the Netherlands Amsterdam $ 5.4
39 TA Associates Flag of the United States Boston $ 5.2
40 Berkshire Partners Flag of the United States Boston $ 4.8
41 Pacific Equity Partners Flag of Australia Sydney $ 4.74
42 Welsh, Carson, Anderson & Stowe Flag of the United States New York $ 4.7
43 Advent International Flag of the United StatesBoston $ 4.6
44 GTCR Golder Rauner Flag of the United StatesChicago $ 4.6
45 Nordic Capital Flag of Sweden Stockholm $ 4.54
46 Oak Investment Partners Flag of the United StatesPalo Alto, CA $ 4.06
47 Clayton, Dubilier & Rice Flag of the United States New York $ 4.0
48 AAC Capital Partners (ABN Amro Capital)[2] Flag of the Netherlands Amsterdam $ 3.93
49 Oaktree Capital Management Flag of the United States Los Angeles $ 3.93
50 Summit Partners Flag of the United States Boston $ 3.88
Tuesday, August 25, 2009
Galileo's telescope reaches 400th anniversary | Science | guardian.co.uk
Galileo's telescope reaches 400th anniversary | Science | guardian.co.uk:
"While many people have been loudly celebrating this year's double commemoration of 200 years since Charles Darwin's birth and 150 years since the publication of On the Origin of Species, another scientific anniversary has crept up relatively quietly, marking an event which arguably changed human thought and the way we see ourselves even more irrevocably.
Exactly 400 years ago today, on 25 August 1609, the Italian astronomer and philosopher Galilei Galileo showed Venetian merchants his new creation, a telescope – the instrument that was to bring him both scientific immortality and, more immediately, a whole lot of trouble.
A refinement of models first devised in the Netherlands, Galileo's slim, brown stick was puny even by the standards of something one might buy in hobby shop today. But his eight-powered telescope, and the more powerful models he soon produced, when pointed skywards led Galileo to a series of groundbreaking conclusions.
The moon was not, as long believed, completely smooth. Another planet, Jupiter, also had moons. Meanwhile Venus showed a range of moon-like phases, something which could not happen if both it and the sun orbited the earth.
This latter phenomenon had been predicted by Nicolaus Copernicus when, nearly a century before, he had proposed the notion of a planetary system with the sun at the centre, not the earth.
Galileo's discoveries were, perhaps predictably, not best welcomed by the Catholic church, and he spent the final decade of his life under house arrest.
It was certainly a revelation which upset the orthodoxies – and the churches – at least as much as Darwin's, and perhaps merits a bit more of fuss, although museum-goers in Philadelphia and Stockholm can view one of Galileo's very early telescopes, on loan this year from Florence. A good deal more people are likely to be alerted thanks to Google's day-long adaptation of their main page logo to a Google Doodle in honour of the event."
"While many people have been loudly celebrating this year's double commemoration of 200 years since Charles Darwin's birth and 150 years since the publication of On the Origin of Species, another scientific anniversary has crept up relatively quietly, marking an event which arguably changed human thought and the way we see ourselves even more irrevocably.
Exactly 400 years ago today, on 25 August 1609, the Italian astronomer and philosopher Galilei Galileo showed Venetian merchants his new creation, a telescope – the instrument that was to bring him both scientific immortality and, more immediately, a whole lot of trouble.
A refinement of models first devised in the Netherlands, Galileo's slim, brown stick was puny even by the standards of something one might buy in hobby shop today. But his eight-powered telescope, and the more powerful models he soon produced, when pointed skywards led Galileo to a series of groundbreaking conclusions.
The moon was not, as long believed, completely smooth. Another planet, Jupiter, also had moons. Meanwhile Venus showed a range of moon-like phases, something which could not happen if both it and the sun orbited the earth.
This latter phenomenon had been predicted by Nicolaus Copernicus when, nearly a century before, he had proposed the notion of a planetary system with the sun at the centre, not the earth.
Galileo's discoveries were, perhaps predictably, not best welcomed by the Catholic church, and he spent the final decade of his life under house arrest.
It was certainly a revelation which upset the orthodoxies – and the churches – at least as much as Darwin's, and perhaps merits a bit more of fuss, although museum-goers in Philadelphia and Stockholm can view one of Galileo's very early telescopes, on loan this year from Florence. A good deal more people are likely to be alerted thanks to Google's day-long adaptation of their main page logo to a Google Doodle in honour of the event."
Galileo's telescope reaches 400th anniversary | Science | guardian.co.uk
Galileo's telescope reaches 400th anniversary | Science | guardian.co.uk:
It is 400 years since Galileo Galilei demonstrated his telescope, which would lead him to make new astronomical observations"
It is 400 years since Galileo Galilei demonstrated his telescope, which would lead him to make new astronomical observations"
Monday, August 17, 2009
HSBC launches Microfinance Caravan | The Philippine Star >> Business Features >> Business As Usual
HSBC launches Microfinance Caravan | The Philippine Star >> Business Features >> Business As Usual: "HSBC launches Microfinance Caravan
(The Philippine Star) Updated August 14, 2006 12:00 AM
In an effort to assist in the country’s fight against poverty, HSBC in the Philippines, in partnership with the Bangko Sentral ng Pilipinas (BSP) and the People’s Credit and Finance Corp., has launched the HSBC Microfinance Caravan with the City of Marikina as its first pilot site.
Since 2004, HSBC has been piloting a number of microfinance projects around the world, varying from wholesale lending and credit lines to project support, cash management and foreign exchange handling.
Participating countries include India, where microfinance is provided to over 70,000 poor households in both rural and urban areas, Mexico where HSBC works closely with the largest microfinance institutions in that country and receives loans and accepts payments in HSBC branches, and Russia where credit facilities to Fund Opportunity Russia were provided.
Microfinance involves the provision of financial services to the entrepreneurial poor, a sector that has the most limited access to affordable financing due to credit considerations. Loans provided by Microfinance Institutions (MFI) usually involve no collateral and range from as low as P2,000 to up to P70,000. In a country like the Philippines, where a major portion of the population lives in poverty, microfinance is expected to help microenterprises flourish and eventually bring about progress for low-income individuals.
'Sustainable microfinance institutions are committed to support the microfinance needs of the bankable and credit-worthy entrepreneurial poor or the e-poor. Sustainable microfinance institutions are committed to triple bottom-line, such as institutional sustainability, economic viability of the e-poor and transformational development of the entrepreneurs,' said Eduardo Jimenez, microfinance consultant for the BSP.
For the launch of the caravan in Marikina City, HSBC has also partnered with five established Microfinance institutions in the area namely ABS-CBN Bayan Foundation, CCT Credit Cooperative, Center for Agriculture and Rural Development, ASA Philippines Inc., and Barangka Credit Cooperative so that local constituents are made aware of their presence and are provided with easier access to their services. The Marikina run also featured an educational video on microfinance including real life success stories of borrowers, coaching sessions, as well as a talk on Financial Management and business tips by Entrepreneurship guru Professor Andy Ferreria.
'If businesses like HSBC are to prosper in the long-term, we must address the issue of poverty and find ways to collaborate with other institutions and government locally and worldwide,' said HSBC Philippines CEO Warner Manning.
Incidentally, this is not HSBC’s first foray into Microfinance. Last year, HSBC launched the opportunity card to help Philippine migrant workers send the money they earn abroad back to their families in the Philippines more cheaply. By logging on to www.hsbcmt.com/opportunity, Filipinos in the US can transfer funds from any account in any bank or their credit card to fund the ATM card. Beneficiaries in the Philippines will receive the opportunity card and can withdraw the funds from any of 3,000 Cirrus or MasterCard ATMs nationwide.
HSBC has been involved in community building through its partnership with Gawad Kalinga, where it has donated a total of 100 homes. With the HSBC Microfinance Caravan, HSBC hopes that this initiative will take community building a step further by helping communities achieve self-sufficiency, productivity and growth."
(The Philippine Star) Updated August 14, 2006 12:00 AM
In an effort to assist in the country’s fight against poverty, HSBC in the Philippines, in partnership with the Bangko Sentral ng Pilipinas (BSP) and the People’s Credit and Finance Corp., has launched the HSBC Microfinance Caravan with the City of Marikina as its first pilot site.
Since 2004, HSBC has been piloting a number of microfinance projects around the world, varying from wholesale lending and credit lines to project support, cash management and foreign exchange handling.
Participating countries include India, where microfinance is provided to over 70,000 poor households in both rural and urban areas, Mexico where HSBC works closely with the largest microfinance institutions in that country and receives loans and accepts payments in HSBC branches, and Russia where credit facilities to Fund Opportunity Russia were provided.
Microfinance involves the provision of financial services to the entrepreneurial poor, a sector that has the most limited access to affordable financing due to credit considerations. Loans provided by Microfinance Institutions (MFI) usually involve no collateral and range from as low as P2,000 to up to P70,000. In a country like the Philippines, where a major portion of the population lives in poverty, microfinance is expected to help microenterprises flourish and eventually bring about progress for low-income individuals.
'Sustainable microfinance institutions are committed to support the microfinance needs of the bankable and credit-worthy entrepreneurial poor or the e-poor. Sustainable microfinance institutions are committed to triple bottom-line, such as institutional sustainability, economic viability of the e-poor and transformational development of the entrepreneurs,' said Eduardo Jimenez, microfinance consultant for the BSP.
For the launch of the caravan in Marikina City, HSBC has also partnered with five established Microfinance institutions in the area namely ABS-CBN Bayan Foundation, CCT Credit Cooperative, Center for Agriculture and Rural Development, ASA Philippines Inc., and Barangka Credit Cooperative so that local constituents are made aware of their presence and are provided with easier access to their services. The Marikina run also featured an educational video on microfinance including real life success stories of borrowers, coaching sessions, as well as a talk on Financial Management and business tips by Entrepreneurship guru Professor Andy Ferreria.
'If businesses like HSBC are to prosper in the long-term, we must address the issue of poverty and find ways to collaborate with other institutions and government locally and worldwide,' said HSBC Philippines CEO Warner Manning.
Incidentally, this is not HSBC’s first foray into Microfinance. Last year, HSBC launched the opportunity card to help Philippine migrant workers send the money they earn abroad back to their families in the Philippines more cheaply. By logging on to www.hsbcmt.com/opportunity, Filipinos in the US can transfer funds from any account in any bank or their credit card to fund the ATM card. Beneficiaries in the Philippines will receive the opportunity card and can withdraw the funds from any of 3,000 Cirrus or MasterCard ATMs nationwide.
HSBC has been involved in community building through its partnership with Gawad Kalinga, where it has donated a total of 100 homes. With the HSBC Microfinance Caravan, HSBC hopes that this initiative will take community building a step further by helping communities achieve self-sufficiency, productivity and growth."
18 rural banks join global microfinance network | The Philippine Star >> Business Features >> Banking
18 rural banks join global microfinance network | The Philippine Star >> Business Features >> Banking: "18 rural banks join global microfinance network
(The Philippine Star) Updated July 11, 2006 12:00 AM
Eighteen rural banks were awarded certificates by The MIX, a Washington-based not-for-profit organization dedicated to increasing the availability of reliable, standardized and comparable data on the financial performance and outreach of microfinance institutions.
The 18 banks, which are MABS participating banks (PBs), are participating in the MixMarket, MIX’ global web-based microfinance information platform. The 18 banks have posted their institutional profiles and financial information on the MixMarket (www.mixmarket.org).
The Rural Bankers Association of the Philippines (RBAP) signed a partnership with the MIX in April 2005.
The partnership aims to improve the performance and growth of RBAP member banks through increased access to local and international performance benchmarks, increase investment flows to rural banks through improved transparency and information disclosure, and augment RBAP’s capacity to establish realistic performance targets within its membership and strengthen its role as an advocate for the adoption of appropriate performance standards and norms.
The certificates were given out during the recent National Roundtable Conference of the MABS Program to the following banks: Bangko Kabayan, Rural Bank of Mabitac, Bangko Mabuhay, First Isabela Cooperative Bank, Bangko Santiago de Libon, Rural Bank of Solano, CARD Bank, New Rural Bank of Victorias, Valiant Bank, Rural Bank of San Enrique, Cooperative Bank of Misamis Oriental, GreenBank of Caraga, Cantilan Bank, Rural Bank of Digos, Rural Bank of Talisayan, Bukidnon Cooperative Bank, Rural Bank of Sto. Tomas, First Valley Bank, and the Rural Bank of Tangub.
The MABS Program, a USAID-funded program implemented by the RBAP, with oversight provided by the Mindanao Economic Development Council (MEDCo) under the Office of the President, assists rural banks to develop their capacity to profitably provide banking services to microentrepreneurs."
(The Philippine Star) Updated July 11, 2006 12:00 AM
Eighteen rural banks were awarded certificates by The MIX, a Washington-based not-for-profit organization dedicated to increasing the availability of reliable, standardized and comparable data on the financial performance and outreach of microfinance institutions.
The 18 banks, which are MABS participating banks (PBs), are participating in the MixMarket, MIX’ global web-based microfinance information platform. The 18 banks have posted their institutional profiles and financial information on the MixMarket (www.mixmarket.org).
The Rural Bankers Association of the Philippines (RBAP) signed a partnership with the MIX in April 2005.
The partnership aims to improve the performance and growth of RBAP member banks through increased access to local and international performance benchmarks, increase investment flows to rural banks through improved transparency and information disclosure, and augment RBAP’s capacity to establish realistic performance targets within its membership and strengthen its role as an advocate for the adoption of appropriate performance standards and norms.
The certificates were given out during the recent National Roundtable Conference of the MABS Program to the following banks: Bangko Kabayan, Rural Bank of Mabitac, Bangko Mabuhay, First Isabela Cooperative Bank, Bangko Santiago de Libon, Rural Bank of Solano, CARD Bank, New Rural Bank of Victorias, Valiant Bank, Rural Bank of San Enrique, Cooperative Bank of Misamis Oriental, GreenBank of Caraga, Cantilan Bank, Rural Bank of Digos, Rural Bank of Talisayan, Bukidnon Cooperative Bank, Rural Bank of Sto. Tomas, First Valley Bank, and the Rural Bank of Tangub.
The MABS Program, a USAID-funded program implemented by the RBAP, with oversight provided by the Mindanao Economic Development Council (MEDCo) under the Office of the President, assists rural banks to develop their capacity to profitably provide banking services to microentrepreneurs."
VOA News - Nobel Laureate Announces Growth of Micro-Loan Program
VOA News - Nobel Laureate Announces Growth of Micro-Loan Program: "By Aru Pande
Washington
12 August 2009
Global recognition including the Nobel Peace Prize and the Presidential Medal of Freedom has not kept Muhammad Yunus from his main goal - getting people out of poverty with the help of small loan-interest loans. The Nobel Laureate announced that his banking organization, Grameen America, has issued micro-loans to 1000 low-income borrowers in the United States.
Muhammad Yunus says he is on a mission to make the financial system accessible to every human being on the planet, whether they reside in a village in his native Bangladesh, or in the financial capital of the world - New York City.
President Barack Obama (l) places a 2009 Presidential Medal of Freedom around the neck of Muhammad Yunus at the White House, 12 Aug 2009
President Barack Obama (l) places a 2009 Presidential Medal of Freedom around the neck of Muhammad Yunus at the White House, 12 Aug 2009
Hours before receiving the Presidential Medal of Freedom from U.S. President Barack Obama in the White House Wednesday, Yunus told reporters in Washington that credit should be a human right available to anyone who needs it.
'Now we can build a new kind of financial system, a financial system which can work just like we do in Jackson Heights, giving people who are never able to open even a bank account, forget about taking a loan,' said Muhammad Yunus.
Yunus began giving small personal loans to women in Bangladesh in the 1970's. The villagers eventually paid him back with interest, and this money was put back into the system, to provide loans to more low-income women.
Yunus was awarded the Nobel Peace Prize for his work in 2006, and his micro-lending program has launched into a worldwide movement.
Since January of last year, Yunus' Grameen America has lent over $2 million to U.S. women at or below the poverty line, allowing them to start or expand a small business. The loans are low-interest and collateral free, and so far, Yunus says they have been paid back at a rate of nearly 100-percent, despite a recession.
The Nobel Laureate says his locally-based micro-credit programs are unaffected by the global economic crisis.
'It's tied to real economy, not paper based economy where you create a fantasy world of finance, and that's what created the crisis, so we don't belong to the fantasy world,' he said.
Yunus says micro-credit programs are especially vital at a time when unemployment rates are rising. He encourages governments to give people options that include the ability to become self-sufficient with the help of small, low-interest loans.
'They will build their own employment and in the process they will inspire other people that look I can handle myself, because I am an experienced person, I am a skilled person, why should I be sitting around and taking government money and live my life,' said Yunus.
Yunus is taking this message and his micro-lending services to other parts of the U.S., as well as China, hoping to help lift more people out of poverty."
VOA News - Nobel Laureate Announces Growth of Micro-Loan Program
VOA News - Nobel Laureate Announces Growth of Micro-Loan Program:
By Aru Pande
Washington
12 August 2009
Global recognition including the Nobel Peace Prize and the Presidential Medal of Freedom has not kept Muhammad Yunus from his main goal - getting people out of poverty with the help of small loan-interest loans. The Nobel Laureate announced that his banking organization, Grameen America, has issued micro-loans to 1000 low-income borrowers in the United States.
Muhammad Yunus says he is on a mission to make the financial system accessible to every human being on the planet, whether they reside in a village in his native Bangladesh, or in the financial capital of the world - New York City.
President Barack Obama (l) places a 2009 Presidential Medal of Freedom around the neck of Muhammad Yunus at the White House, 12 Aug 2009
President Barack Obama (l) places a 2009 Presidential Medal of Freedom around the neck of Muhammad Yunus at the White House, 12 Aug 2009
Hours before receiving the Presidential Medal of Freedom from U.S. President Barack Obama in the White House Wednesday, Yunus told reporters in Washington that credit should be a human right available to anyone who needs it.
'Now we can build a new kind of financial system, a financial system which can work just like we do in Jackson Heights, giving people who are never able to open even a bank account, forget about taking a loan,' said Muhammad Yunus.
Yunus began giving small personal loans to women in Bangladesh in the 1970's. The villagers eventually paid him back with interest, and this money was put back into the system, to provide loans to more low-income women.
Yunus was awarded the Nobel Peace Prize for his work in 2006, and his micro-lending program has launched into a worldwide movement.
Since January of last year, Yunus' Grameen America has lent over $2 million to U.S. women at or below the poverty line, allowing them to start or expand a small business. The loans are low-interest and collateral free, and so far, Yunus says they have been paid back at a rate of nearly 100-percent, despite a recession.
The Nobel Laureate says his locally-based micro-credit programs are unaffected by the global economic crisis.
'It's tied to real economy, not paper based economy where you create a fantasy world of finance, and that's what created the crisis, so we don't belong to the fantasy world,' he said.
Yunus says micro-credit programs are especially vital at a time when unemployment rates are rising. He encourages governments to give people options that include the ability to become self-sufficient with the help of small, low-interest loans.
'They will build their own employment and in the process they will inspire other people that look I can handle myself, because I am an experienced person, I am a skilled person, why should I be sitting around and taking government money and live my life,' said Yunus.
Yunus is taking this message and his micro-lending services to other parts of the U.S., as well as China, hoping to help lift more people out of poverty."
By Aru Pande
Washington
12 August 2009
Global recognition including the Nobel Peace Prize and the Presidential Medal of Freedom has not kept Muhammad Yunus from his main goal - getting people out of poverty with the help of small loan-interest loans. The Nobel Laureate announced that his banking organization, Grameen America, has issued micro-loans to 1000 low-income borrowers in the United States.
Muhammad Yunus says he is on a mission to make the financial system accessible to every human being on the planet, whether they reside in a village in his native Bangladesh, or in the financial capital of the world - New York City.
President Barack Obama (l) places a 2009 Presidential Medal of Freedom around the neck of Muhammad Yunus at the White House, 12 Aug 2009
President Barack Obama (l) places a 2009 Presidential Medal of Freedom around the neck of Muhammad Yunus at the White House, 12 Aug 2009
Hours before receiving the Presidential Medal of Freedom from U.S. President Barack Obama in the White House Wednesday, Yunus told reporters in Washington that credit should be a human right available to anyone who needs it.
'Now we can build a new kind of financial system, a financial system which can work just like we do in Jackson Heights, giving people who are never able to open even a bank account, forget about taking a loan,' said Muhammad Yunus.
Yunus began giving small personal loans to women in Bangladesh in the 1970's. The villagers eventually paid him back with interest, and this money was put back into the system, to provide loans to more low-income women.
Yunus was awarded the Nobel Peace Prize for his work in 2006, and his micro-lending program has launched into a worldwide movement.
Since January of last year, Yunus' Grameen America has lent over $2 million to U.S. women at or below the poverty line, allowing them to start or expand a small business. The loans are low-interest and collateral free, and so far, Yunus says they have been paid back at a rate of nearly 100-percent, despite a recession.
The Nobel Laureate says his locally-based micro-credit programs are unaffected by the global economic crisis.
'It's tied to real economy, not paper based economy where you create a fantasy world of finance, and that's what created the crisis, so we don't belong to the fantasy world,' he said.
Yunus says micro-credit programs are especially vital at a time when unemployment rates are rising. He encourages governments to give people options that include the ability to become self-sufficient with the help of small, low-interest loans.
'They will build their own employment and in the process they will inspire other people that look I can handle myself, because I am an experienced person, I am a skilled person, why should I be sitting around and taking government money and live my life,' said Yunus.
Yunus is taking this message and his micro-lending services to other parts of the U.S., as well as China, hoping to help lift more people out of poverty."
VOA News - Switzerland Loses Status as 'Tax Paradise'
VOA News - Switzerland Loses Status as 'Tax Paradise':
By Lisa Schlein
Geneva
13 August 2009
The logo of the Swiss bank UBS
An agreement to settle a long-standing tax evasion suit between Swiss banking giant UBS and the U.S. Justice Department has received mixed reviews in Switzerland. Swiss media disagree on the potential consequences of the deal. But all agree that Switzerland's status as a 'tax paradise' is over.
Swiss banking giant UBS has been fending off demands by the U.S. Internal Revenue Service to hand over information about 52,000 wealthy American clients suspected of tax evasion. The legal wrangling, which has been going on for months has threatened to poison diplomatic relations between two strong allies.
But now a deal has been struck. Terms of the agreement are still confidential. But Swiss-American Chamber of Commerce CEO Martin Naville says he is relieved the uncertainly hanging over the protracted negotiations are over and UBS now can get on with its business of banking.
'Even a day in court would have been extremely detrimental to the future of UBS,' Naville said. 'And so I think avoiding court is great. We will have to see in the details of the agreement to see exactly how much ground they had to give in the negotiations. But, clearly this is positive for UBS.'
The U.S. Justice Department filed a civil lawsuit against UBS in February demanding details of 52,000 American clients. The Swiss government has vigorously rejected these demands, saying it violated the country's banking secrecy laws.
Media reports indicate that under the compromise agreement worked out, UBS will agree to release data on around 5,000 people on the American list, probably those with the largest accounts.
Naville agrees banking secrecy in Switzerland will never be the same. He says innocent citizens do not have to worry about having their financial data kept confidential. But anything tainted with the whiff of tax evasion will be at risk.
'The UBS case was a very brilliant case for the IRS to make the point and to motivate all Americans to really to come back into the fold, to have voluntary disclosure and make the payments,' Naville said. 'I think the IRS has beautifully achieved those goals ... It is the IRS trying to terrify the American citizens to do the right thing. But, also, you know, make very clear to banks worldwide and tax experts and lawyers worldwide never to try again to help Americans evade tax. Even if it is legal today, the clear message was it is not going to be legal tomorrow. So, do not do it.'
Ultimately, Naville says UBS had no choice. It had to give in to Washington's demands. He says any bank that wants to be an international player has to do business in the United States, which is at the absolute center of the world's financial markets.
Representatives from the U.S. Justice Department and UBS have told the sitting judge in Miami, Florida they would move to have the legal case dismissed and would file court documents outlining the settlement next week."
By Lisa Schlein
Geneva
13 August 2009
The logo of the Swiss bank UBS
An agreement to settle a long-standing tax evasion suit between Swiss banking giant UBS and the U.S. Justice Department has received mixed reviews in Switzerland. Swiss media disagree on the potential consequences of the deal. But all agree that Switzerland's status as a 'tax paradise' is over.
Swiss banking giant UBS has been fending off demands by the U.S. Internal Revenue Service to hand over information about 52,000 wealthy American clients suspected of tax evasion. The legal wrangling, which has been going on for months has threatened to poison diplomatic relations between two strong allies.
But now a deal has been struck. Terms of the agreement are still confidential. But Swiss-American Chamber of Commerce CEO Martin Naville says he is relieved the uncertainly hanging over the protracted negotiations are over and UBS now can get on with its business of banking.
'Even a day in court would have been extremely detrimental to the future of UBS,' Naville said. 'And so I think avoiding court is great. We will have to see in the details of the agreement to see exactly how much ground they had to give in the negotiations. But, clearly this is positive for UBS.'
The U.S. Justice Department filed a civil lawsuit against UBS in February demanding details of 52,000 American clients. The Swiss government has vigorously rejected these demands, saying it violated the country's banking secrecy laws.
Media reports indicate that under the compromise agreement worked out, UBS will agree to release data on around 5,000 people on the American list, probably those with the largest accounts.
Naville agrees banking secrecy in Switzerland will never be the same. He says innocent citizens do not have to worry about having their financial data kept confidential. But anything tainted with the whiff of tax evasion will be at risk.
'The UBS case was a very brilliant case for the IRS to make the point and to motivate all Americans to really to come back into the fold, to have voluntary disclosure and make the payments,' Naville said. 'I think the IRS has beautifully achieved those goals ... It is the IRS trying to terrify the American citizens to do the right thing. But, also, you know, make very clear to banks worldwide and tax experts and lawyers worldwide never to try again to help Americans evade tax. Even if it is legal today, the clear message was it is not going to be legal tomorrow. So, do not do it.'
Ultimately, Naville says UBS had no choice. It had to give in to Washington's demands. He says any bank that wants to be an international player has to do business in the United States, which is at the absolute center of the world's financial markets.
Representatives from the U.S. Justice Department and UBS have told the sitting judge in Miami, Florida they would move to have the legal case dismissed and would file court documents outlining the settlement next week."
Saturday, August 15, 2009
Saturday, August 08, 2009
BusinessWorld Online: Tan banks obtain Chinese regulator's approval to infuse capital in Xiamen-based subsidiary
BusinessWorld Online: Tan banks obtain Chinese regulator's approval to infuse capital in Xiamen-based subsidiary: "Tan banks obtain Chinese regulator’s approval to infuse capital in Xiamen-based subsidiary
China’s banking regulator has green-lighted the Philippine National Bank (PNB) and Allied Banking Corporation’s plan to infuse capital in the Allied Commercial Bank, which would allow the Xiamen-based bank to expand its services and extend its reach across China.
In a disclosure to the Philippine Stock Exchange on Friday, PNB said the China Banking Regulatory Commission has approved its request to make an equity investment in Allied Commercial Bank, Allied Bank’s subsidiary.
Allied Bank, in a separate disclosure, said the regulator has allowed it to make an additional investment in its subsidiary.
PNB, the country’s fifth largest bank, and Allied Bank, the eleventh largest, are both controlled by tobacco and beer magnate Lucio Tan.
Allied Commercial, based in Xiamen, Fujian Province and established in 1993, is majority-owned by Allied Bank. It has a commercial banking license to operate across mainland China but was limited to offering foreign currency products such as foreign exchange deposits and US-denominated trade transactions. PNB and Allied Bank’s capital infusion would change this.
'Being a locally incorporated foreign-funded bank, Allied Commercial Bank will now be in a position to eventually provide a range of products and services at par with domestic Chinese banks,' PNB said in a statement.
'Among others, this will include the acceptance of yuan-denominated deposits from local residents.'
PNB would pour in 394.1 million yuan into Allied Commercial, and Allied Bank, 153.98 million yuan. Allied Bank, in addition, would convert its share of 42.9 million in Allied Commercial undivided profits into equity.
The capital infusion would translate to PNB and Allied Bank owning 39.41% and 51%, respectively, of Allied Commercial.
Allied Commercial Bank would now have a total capitalization of a billion yuan, which would allow it to expand its banking operations beyond its present head office in Xiamen and branch in Chongqing.
Its resources stood at $112 million in end-2008 while net profit summed up to $3.2 million.
The Bangko Sentral ng Pilipinas (BSP) approved the two banks’ plans in September last year.
The capital infusion in Allied Commercial would come ahead of the PNB-Allied Bank merger, which would create the country’s fourth largest bank."
China’s banking regulator has green-lighted the Philippine National Bank (PNB) and Allied Banking Corporation’s plan to infuse capital in the Allied Commercial Bank, which would allow the Xiamen-based bank to expand its services and extend its reach across China.
In a disclosure to the Philippine Stock Exchange on Friday, PNB said the China Banking Regulatory Commission has approved its request to make an equity investment in Allied Commercial Bank, Allied Bank’s subsidiary.
Allied Bank, in a separate disclosure, said the regulator has allowed it to make an additional investment in its subsidiary.
PNB, the country’s fifth largest bank, and Allied Bank, the eleventh largest, are both controlled by tobacco and beer magnate Lucio Tan.
Allied Commercial, based in Xiamen, Fujian Province and established in 1993, is majority-owned by Allied Bank. It has a commercial banking license to operate across mainland China but was limited to offering foreign currency products such as foreign exchange deposits and US-denominated trade transactions. PNB and Allied Bank’s capital infusion would change this.
'Being a locally incorporated foreign-funded bank, Allied Commercial Bank will now be in a position to eventually provide a range of products and services at par with domestic Chinese banks,' PNB said in a statement.
'Among others, this will include the acceptance of yuan-denominated deposits from local residents.'
PNB would pour in 394.1 million yuan into Allied Commercial, and Allied Bank, 153.98 million yuan. Allied Bank, in addition, would convert its share of 42.9 million in Allied Commercial undivided profits into equity.
The capital infusion would translate to PNB and Allied Bank owning 39.41% and 51%, respectively, of Allied Commercial.
Allied Commercial Bank would now have a total capitalization of a billion yuan, which would allow it to expand its banking operations beyond its present head office in Xiamen and branch in Chongqing.
Its resources stood at $112 million in end-2008 while net profit summed up to $3.2 million.
The Bangko Sentral ng Pilipinas (BSP) approved the two banks’ plans in September last year.
The capital infusion in Allied Commercial would come ahead of the PNB-Allied Bank merger, which would create the country’s fourth largest bank."
Thursday, August 06, 2009
Wednesday, August 05, 2009
Thousands of Filipinos Brave Rain for Aquino Funeral (Update3) - Bloomberg.com
Thousands of Filipinos Brave Rain for Aquino Funeral (Update3) - Bloomberg.com:
By Francisco Alcuaz Jr. and Karl Lester M. Yap
Aug. 5 (Bloomberg) -- Hundreds of thousands of Filipinos stood and marched in the rain on the streets of Manila to bid farewell to Corazon Aquino, the widow who ousted dictator Ferdinand Marcos and rose to president in 1986.
Aquino, who died Aug. 1, was buried beside her husband, Benigno “Ninoy” Aquino, in Manila Memorial Park. His 1983 assassination left it to the woman Marcos dismissed as “a mere housewife” to unite the opposition and end his two-decade rule.
As many as 300,000 Filipinos crowded the procession’s 20- kilometer (12-mile) route from Manila Cathedral, according to Manila police spokesman Rommel Miranda, extending the trip to eight hours. Many wore yellow shirts or carried banners or balloons in the Aquinos’ political color. It recalled her husband’s half-day funeral procession, which multitudes joined in defiance of the dictatorship.
“I was still a kid when the revolution happened, but I got to know her through the stories people tell of that time in our history and what she and her husband did for the country,” Niccolo Cosme, 29, said on his way to the cemetery. “She is the last popular hero we have left.”
Some people walked beside the truck, sometimes wading through ankle-deep water. Others rode bicycles and motorcycles. In many places, people chanted “Cory! Cory! Cory!” as they did in the 1980s and flashed the Aquinos’ “L” sign, for “Laban!” or “Fight!”
Fight With Cancer
Aquino died of a heart attack after a more than a year battling cancer. She was 76.
President Gloria Arroyo declared today a national holiday for the funeral. Arroyo paid her respects to Aquino at the cathedral shortly before the funeral Mass and after arriving home from a shortened trip to the U.S. She didn’t stay for the service, attending a Mass at the presidential palace instead.
Aquino had called for Arroyo’s resignation or removal since 2005 for alleged vote-rigging and corruption.
Two of the Marcoses’ children paid their respects yesterday. Former President Joseph Estrada, whom Aquino helped oust in 2001, attended the service.
“Thank you for being our light when we were afraid,” Bishop Socrates Villegas, who was assistant to Cardinal Jaime Sin, a key Aquino ally, said after the Mass. “Thank you for fighting for us. You never fought any battle for yourself. When we felt hopeless you ignited our hope.”
‘Symbol of Democracy’
As her casket was brought out of the cathedral, people clapped and chanted her name. Outside, she was honored by the Philippine National Police as confetti fell from the Bureau of the Treasury building.
“Cory is the symbol of democracy, the mother of all Filipinos,” said Chito Reyes, a 53-year-old cook, as he stood in a kilometer-long line outside Manila Cathedral. “I want to see her for the last time, to mourn with her family.”
Born to a sugar-planting and milling fortune, Corazon Aquino studied in Philadelphia and New York before marrying aspiring politician Benigno Aquino in 1954. Marcos jailed him when he declared martial law in 1972, releasing him only in 1980 so he could have heart surgery in the U.S.
He was shot and killed as the military escorted him from his plane on his return in 1983. His wife returned to bury him and then led demonstrations against Marcos, forcing him to call an election in 1986. She agreed to run after she was presented with a million signatures asking her to unite the opposition.
Marcos Exile
When Marcos was declared the winner amid widespread claims of fraud, Aquino organized demonstrations around the country. Military defections and a three-day demonstration brought Manila to a standstill. Marcos went into exile after so-called loyalist forces refused to fire on demonstrators.
Aquino rejected the trappings of office and refused to live or work in the Malacanang presidential palace, making it a museum, and declined to run again. While her six years as president were marred by coup attempts, power outages and an economic contraction, she endeared herself to the people, who called her “Tita Cory” or “Aunt Cory.”
“She herself was beyond reproach,” said Henry Totanes, a history professor at Ateneo de Manila University. “She did what she did at her own personal sacrifice. When the time came to step down, she stepped down and continued to fight for democracy as a private citizen.”
To contact the reporters on this story: Francisco Alcuaz Jr. in Manila at falcuaz@bloomberg.net; Karl Lester M. Yap in Manila at kyap5@bloomberg.net.
Last Updated: August 5, 2009 09:21 EDT"
By Francisco Alcuaz Jr. and Karl Lester M. Yap
Aug. 5 (Bloomberg) -- Hundreds of thousands of Filipinos stood and marched in the rain on the streets of Manila to bid farewell to Corazon Aquino, the widow who ousted dictator Ferdinand Marcos and rose to president in 1986.
Aquino, who died Aug. 1, was buried beside her husband, Benigno “Ninoy” Aquino, in Manila Memorial Park. His 1983 assassination left it to the woman Marcos dismissed as “a mere housewife” to unite the opposition and end his two-decade rule.
As many as 300,000 Filipinos crowded the procession’s 20- kilometer (12-mile) route from Manila Cathedral, according to Manila police spokesman Rommel Miranda, extending the trip to eight hours. Many wore yellow shirts or carried banners or balloons in the Aquinos’ political color. It recalled her husband’s half-day funeral procession, which multitudes joined in defiance of the dictatorship.
“I was still a kid when the revolution happened, but I got to know her through the stories people tell of that time in our history and what she and her husband did for the country,” Niccolo Cosme, 29, said on his way to the cemetery. “She is the last popular hero we have left.”
Some people walked beside the truck, sometimes wading through ankle-deep water. Others rode bicycles and motorcycles. In many places, people chanted “Cory! Cory! Cory!” as they did in the 1980s and flashed the Aquinos’ “L” sign, for “Laban!” or “Fight!”
Fight With Cancer
Aquino died of a heart attack after a more than a year battling cancer. She was 76.
President Gloria Arroyo declared today a national holiday for the funeral. Arroyo paid her respects to Aquino at the cathedral shortly before the funeral Mass and after arriving home from a shortened trip to the U.S. She didn’t stay for the service, attending a Mass at the presidential palace instead.
Aquino had called for Arroyo’s resignation or removal since 2005 for alleged vote-rigging and corruption.
Two of the Marcoses’ children paid their respects yesterday. Former President Joseph Estrada, whom Aquino helped oust in 2001, attended the service.
“Thank you for being our light when we were afraid,” Bishop Socrates Villegas, who was assistant to Cardinal Jaime Sin, a key Aquino ally, said after the Mass. “Thank you for fighting for us. You never fought any battle for yourself. When we felt hopeless you ignited our hope.”
‘Symbol of Democracy’
As her casket was brought out of the cathedral, people clapped and chanted her name. Outside, she was honored by the Philippine National Police as confetti fell from the Bureau of the Treasury building.
“Cory is the symbol of democracy, the mother of all Filipinos,” said Chito Reyes, a 53-year-old cook, as he stood in a kilometer-long line outside Manila Cathedral. “I want to see her for the last time, to mourn with her family.”
Born to a sugar-planting and milling fortune, Corazon Aquino studied in Philadelphia and New York before marrying aspiring politician Benigno Aquino in 1954. Marcos jailed him when he declared martial law in 1972, releasing him only in 1980 so he could have heart surgery in the U.S.
He was shot and killed as the military escorted him from his plane on his return in 1983. His wife returned to bury him and then led demonstrations against Marcos, forcing him to call an election in 1986. She agreed to run after she was presented with a million signatures asking her to unite the opposition.
Marcos Exile
When Marcos was declared the winner amid widespread claims of fraud, Aquino organized demonstrations around the country. Military defections and a three-day demonstration brought Manila to a standstill. Marcos went into exile after so-called loyalist forces refused to fire on demonstrators.
Aquino rejected the trappings of office and refused to live or work in the Malacanang presidential palace, making it a museum, and declined to run again. While her six years as president were marred by coup attempts, power outages and an economic contraction, she endeared herself to the people, who called her “Tita Cory” or “Aunt Cory.”
“She herself was beyond reproach,” said Henry Totanes, a history professor at Ateneo de Manila University. “She did what she did at her own personal sacrifice. When the time came to step down, she stepped down and continued to fight for democracy as a private citizen.”
To contact the reporters on this story: Francisco Alcuaz Jr. in Manila at falcuaz@bloomberg.net; Karl Lester M. Yap in Manila at kyap5@bloomberg.net.
Last Updated: August 5, 2009 09:21 EDT"
Sunday, August 02, 2009
Philippine Deforestation
Philippine Deforestation:
Ancient Geological History of the Philippines
Recent evidence, primarily from exploration for oil deposits, shows that the main landmass of the Philippines originated more than 50 million years ago as a series of 'island arcs' far out in the Pacific Ocean. As the rocks beneath the sea were gradually squeezed between the Asian continent and the northward-moving Australian continent, which was then much farther south than it is today, parts of the sea-floor were uplifted, and others were thrust beneath the crust of the earth. The pressure and friction generated by this plate-tectonic movement produced undersea volcanoes that gradually rose above the waves. By about 30 million years ago some small but permanent islands protruded above sea level, and by 25 million years ago, several islands of at least 1,000 square kilometers had been established.
Australia continued to move northward and westward, with the pressure on the region between it and Asia forcing the precursors to the Philippine Islands to move toward Asia, resulting in still more volcanic activity. By 15 million years ago, this led to the creation of a large island of 25,000 to 50,000 square kilometers, with extensive highlands that included parts of what is presently northern Luzon. The modern southern Philippines still lay far to the south at this point, and included only a few, much smaller islands.
Southeast Asia assumed much of its current shape only about five million years ago. By this time, the modern highlands of northern Luzon were well-established. Another island reached from southern Luzon nearly to Mindanao, and Mindanao itself consisted of several separate islands that progressively merged. Small islands continued to appear throughout the archipelago, including the Sulu Islands. Palawan and Mindoro, the only parts of the Philippines that had originated as pieces of the Asian mainland, became isolated at this time as well, with Mindoro probably dropping entirely below sea level for a time.
Although many of the details in this story remain unclear, the broad picture has become evident for the first time. We now believe that the ancient geological history of the Philippines is largely responsible for its exceptional array of biological diversity. Because the islands arose many millions of years ago, independently of the Asian mainland, with the exception of Palawan and Mindoro, they have had adequate time and space to receive and shelter rare, over-water animal and plant pioneers. But why, in comparison to nearby countries with similar climates, are levels of diversity so high in the Philippines? And why do such small islands as Sibuyan have such extraordinary numbers of unique species, while some other islands of the same size in the Philippines have none? To answer these questions, we must turn to the more recent geological history of the archipelago."
Ancient Geological History of the Philippines
Recent evidence, primarily from exploration for oil deposits, shows that the main landmass of the Philippines originated more than 50 million years ago as a series of 'island arcs' far out in the Pacific Ocean. As the rocks beneath the sea were gradually squeezed between the Asian continent and the northward-moving Australian continent, which was then much farther south than it is today, parts of the sea-floor were uplifted, and others were thrust beneath the crust of the earth. The pressure and friction generated by this plate-tectonic movement produced undersea volcanoes that gradually rose above the waves. By about 30 million years ago some small but permanent islands protruded above sea level, and by 25 million years ago, several islands of at least 1,000 square kilometers had been established.
Australia continued to move northward and westward, with the pressure on the region between it and Asia forcing the precursors to the Philippine Islands to move toward Asia, resulting in still more volcanic activity. By 15 million years ago, this led to the creation of a large island of 25,000 to 50,000 square kilometers, with extensive highlands that included parts of what is presently northern Luzon. The modern southern Philippines still lay far to the south at this point, and included only a few, much smaller islands.
Southeast Asia assumed much of its current shape only about five million years ago. By this time, the modern highlands of northern Luzon were well-established. Another island reached from southern Luzon nearly to Mindanao, and Mindanao itself consisted of several separate islands that progressively merged. Small islands continued to appear throughout the archipelago, including the Sulu Islands. Palawan and Mindoro, the only parts of the Philippines that had originated as pieces of the Asian mainland, became isolated at this time as well, with Mindoro probably dropping entirely below sea level for a time.
Although many of the details in this story remain unclear, the broad picture has become evident for the first time. We now believe that the ancient geological history of the Philippines is largely responsible for its exceptional array of biological diversity. Because the islands arose many millions of years ago, independently of the Asian mainland, with the exception of Palawan and Mindoro, they have had adequate time and space to receive and shelter rare, over-water animal and plant pioneers. But why, in comparison to nearby countries with similar climates, are levels of diversity so high in the Philippines? And why do such small islands as Sibuyan have such extraordinary numbers of unique species, while some other islands of the same size in the Philippines have none? To answer these questions, we must turn to the more recent geological history of the archipelago."
Treasures of the Philippines
Treasures of the Philippines:
Contents:
i. Foreword
Angel C. Alcala
I. Introduction
Lawrence R. Heaney
II. Discovering Diversity
Lawrence R. Heaney
III. The Origins and Dimensions of Biodiversity in the Philippines
Lawrence R. Heaney
IV. Vanishing Treasures
Jacinto C. Regaldo, Jr. and Lawrence R. Heaney
V. The Causes and Effects of Deforestation
Lawrence R. Heaney
VI. Prospects for Recovery
Lawrence R. Heaney
VII. Bibliography and Credits
Notice: This website can be navigated like a book. You can go to a chapter by clicking on its title. Once within a chapter, turn the pages with the arrow buttons found at the bottom. You may also use the navigation bar found at the top of each page to move between chapters."
Contents:
i. Foreword
Angel C. Alcala
I. Introduction
Lawrence R. Heaney
II. Discovering Diversity
Lawrence R. Heaney
III. The Origins and Dimensions of Biodiversity in the Philippines
Lawrence R. Heaney
IV. Vanishing Treasures
Jacinto C. Regaldo, Jr. and Lawrence R. Heaney
V. The Causes and Effects of Deforestation
Lawrence R. Heaney
VI. Prospects for Recovery
Lawrence R. Heaney
VII. Bibliography and Credits
Notice: This website can be navigated like a book. You can go to a chapter by clicking on its title. Once within a chapter, turn the pages with the arrow buttons found at the bottom. You may also use the navigation bar found at the top of each page to move between chapters."
Treasures of the Philippines
Treasures of the Philippines: "'Only by protecting the rain forest in which these animals live can their future well-being, and that of the Filipino people, be assured.'"
HARIBON FOUNDATION | Protecting Nature.. Preserving Life
HARIBON FOUNDATION | Protecting Nature.. Preserving Life: "Give the Gift of Trees
PhP150 plants two seedlings. Be part of the solution.
With every tree planted, the beat of life continues.
Global problems may be big but they can be tackled by individual actions. Each of us can do something about climate change through tree planting of native tree species. The decisions you make— from turning on a light switch to riding a car or plane— here and now may have
an effect far away and long into the future.
The good news is that through tree planting of native trees we are bringing back the natural sequesters of CO2, and the impacts of climate change are abated. Revival of our rainforests is vital to our survival and ensures water supply for agriculture, energy and our household needs.
For any occasion, when you give a gift to plant native trees, you’ll delight your loved ones. A gift that endures a lifetime and helps make a lasting difference now and for future generations.
Your gift directly benefits Haribon’s ROAD to 2020, a campaign that aims to plant native trees to restore 1 million hectares of forests in the Philippines by year 2020.
For a minimum of two seedlings for PhP75 each, you can support our forest restoration activities in Caliraya Watershed in Laguna and denuded forests around the country. You are welcome to plant your seedlings with us.
MORE INFO: FAQ
Gift Trees are perfect for:
Wedding Favors | Anniversaries
Give trees to your guests as a special reminder of your big day. Your unique and thoughtful mementos will be living memorials that last a lifetime. A thoughtful and appreciated gift today, they go on to make a contribution for generations to come.
Fundraisers
Trees make a unique and appealing fundraising product for your school or organization. Their contribution to the community lasts for generations to come.
Corporate
Promotions | Employee Appreciation | Customer Appreciation | New Accounts| Grand Openings
Gift Trees are a perfect way to promote your company and services to your customers and the community. When you choose Gift Trees, you're showcasing your respect for the Earth, your commitment to the environment, and your concern for a greener, more tree-filled tomorrow.
Earth Day celebrations
Baby gifts
…any and all occasions!
Download Order form
PDF format
MS Excel format"
PhP150 plants two seedlings. Be part of the solution.
With every tree planted, the beat of life continues.
Global problems may be big but they can be tackled by individual actions. Each of us can do something about climate change through tree planting of native tree species. The decisions you make— from turning on a light switch to riding a car or plane— here and now may have
an effect far away and long into the future.
The good news is that through tree planting of native trees we are bringing back the natural sequesters of CO2, and the impacts of climate change are abated. Revival of our rainforests is vital to our survival and ensures water supply for agriculture, energy and our household needs.
For any occasion, when you give a gift to plant native trees, you’ll delight your loved ones. A gift that endures a lifetime and helps make a lasting difference now and for future generations.
Your gift directly benefits Haribon’s ROAD to 2020, a campaign that aims to plant native trees to restore 1 million hectares of forests in the Philippines by year 2020.
For a minimum of two seedlings for PhP75 each, you can support our forest restoration activities in Caliraya Watershed in Laguna and denuded forests around the country. You are welcome to plant your seedlings with us.
MORE INFO: FAQ
Gift Trees are perfect for:
Wedding Favors | Anniversaries
Give trees to your guests as a special reminder of your big day. Your unique and thoughtful mementos will be living memorials that last a lifetime. A thoughtful and appreciated gift today, they go on to make a contribution for generations to come.
Fundraisers
Trees make a unique and appealing fundraising product for your school or organization. Their contribution to the community lasts for generations to come.
Corporate
Promotions | Employee Appreciation | Customer Appreciation | New Accounts| Grand Openings
Gift Trees are a perfect way to promote your company and services to your customers and the community. When you choose Gift Trees, you're showcasing your respect for the Earth, your commitment to the environment, and your concern for a greener, more tree-filled tomorrow.
Earth Day celebrations
Baby gifts
…any and all occasions!
Download Order form
PDF format
MS Excel format"
HARIBON FOUNDATION | Protecting Nature.. Preserving Life
HARIBON FOUNDATION | Protecting Nature.. Preserving Life: "Haribon's Partners in Conservation
Posted on 16 August, 2005 - 3:58am.
Haribon’s work would not have been possible without the support of our partner organizations and donors.
Major Partners and Donors
* Birdlife International
* European Commission
* Royal Netherlands Embassy
* Critical Ecosystem Partnership Fund
* PAMANA KA sa Pilipinas
* ANIS
* KAISAKA
* Samahang Pangkaunlaran ng San Salvador
* The MacArthur Foundation
* Packard Foundation
* GMA 7
* Philippine Daily Inquirer
* The Manila Times
* Smart Communications
* Meralco Millennium Foundation
Partner Establishments
* Starbucks
* Brews and Browns
* Papemelroti
* Bratpack
* Beauty Bar
Partner Agencies
* Protected Areas and Wildlife Bureau (PAWB)
* Department of Environment and Natural Resources (DENR)
* Department of Tourism (DOT)
* Department of Interior and Local Government (DILG)
* The Municipal Governments of
o Sablayan Occidental Mindoro
o Sibalom, Antique
o Loreto, Dinagat Island, Surigao del Norte
o Balbalan, Kalinga
o Nug-as, Cebu
o Lanuza, Surigao del Norte
o The Provincial Government of Tawi-tawi
Academic Institutions
* Siliman University
* Mindanao State University
* De La Salle University
* Camarines Sur Agricultural College
* Leyte State University
* UP Marine Science Institute
Other Conservation organizations
* Endangered Species International
* Foundation for the Philippine Environment
* Conservation International
* Asean Regional Centre for Biodiversity Conservation
* IUCN
* Rainforest Portal"
Posted on 16 August, 2005 - 3:58am.
Haribon’s work would not have been possible without the support of our partner organizations and donors.
Major Partners and Donors
* Birdlife International
* European Commission
* Royal Netherlands Embassy
* Critical Ecosystem Partnership Fund
* PAMANA KA sa Pilipinas
* ANIS
* KAISAKA
* Samahang Pangkaunlaran ng San Salvador
* The MacArthur Foundation
* Packard Foundation
* GMA 7
* Philippine Daily Inquirer
* The Manila Times
* Smart Communications
* Meralco Millennium Foundation
Partner Establishments
* Starbucks
* Brews and Browns
* Papemelroti
* Bratpack
* Beauty Bar
Partner Agencies
* Protected Areas and Wildlife Bureau (PAWB)
* Department of Environment and Natural Resources (DENR)
* Department of Tourism (DOT)
* Department of Interior and Local Government (DILG)
* The Municipal Governments of
o Sablayan Occidental Mindoro
o Sibalom, Antique
o Loreto, Dinagat Island, Surigao del Norte
o Balbalan, Kalinga
o Nug-as, Cebu
o Lanuza, Surigao del Norte
o The Provincial Government of Tawi-tawi
Academic Institutions
* Siliman University
* Mindanao State University
* De La Salle University
* Camarines Sur Agricultural College
* Leyte State University
* UP Marine Science Institute
Other Conservation organizations
* Endangered Species International
* Foundation for the Philippine Environment
* Conservation International
* Asean Regional Centre for Biodiversity Conservation
* IUCN
* Rainforest Portal"
Subscribe to:
Posts (Atom)