“Alleviating Poverty” book launched

A new book titled “Alleviating Poverty” has recently been published and released by the Foundation. Written by PEF´s former Executive Director, the late Enrico O. Garde, the book presents a visual monograph on microfinance in the Philippines from the perspective of a development worker.

The book starts with providing a context of microfinance services in the Philippines. It discusses various microfinance institutions (MFIs) including a typology of MFIs and a profile of “young” and “mature” institutions. The book then discusses MFI impact on poverty while enumerating several MFI characteristics as well as its overall impact on poverty alleviation. It then presents in detail the significant factors for client success. For the synthesis, the book presents several concepts and conclusions on MFI intervention, special problems encountered, and a discussion on the need for sustained MFI services.

The books contents are the following:

The Context of Microfinance Services

  • A Continuing Crisis
  • Worsening Poverty Situation
  • Microfinance Services as a Response to Poverty
  • Determining Impact/Effects of Microfinance Services
  • Methodology: Review of Literature

The Microfinance Institutions (MFIs)

  • The MFI Segment
  • Government Supports and Promotes MFIs
  • Typology of MFIs
  • Proile of “Young” and “Mature” MFIs

MFI Impact on Poverty

  • Characteristics of MFI Clients
  • Overall Impact: Movement Out of Poverty
  • Intermediate Impact 1: Increased Labor Utilization/Reduced Underemployment
  • Intermediate Impact 2: Increased Incomes
  • Intermediate Impact 3: Accumulation of Financial and Physical (Enterprise- or Household-Related) Assets
  • Intermediate Impact 4: Formation of Human and Social Capital
  • Intermediate Impact 5: Reduced Vulnerability to Risks and Crises
  • Intermediate Impact 6: More Children in School: Improved Chances of Next Generation to Escape Poverty

Significant Factors for Client Success

  • Factor 1: No Shortage of Working Capital
  • Factor 2: Bigger Loan Size
  • Factor 3: Shift in Livelihood Activities
  • Factor 4: Investments in Activities with High Returns
  • Factor 5: Investments in Fishing/Higher Technology
  • Factor 6: Multiple Income Earners
  • Factor 7: Lower Dependency Ratios

Synthesis

  • MFIs Reach and Provide Financial Services to Lower Segments of the Poor
  • Overall Impact: MFIs Help Clients Move Out of Poverty
  • Poverty Reduction Process: Reducing Underemployment and Increasing Incomes, Accumulation of Financial and Physical Assets, Building Human and Social Capital
  • Poverty Alleviation Process: Ability to Cope with Crises, Improving Chances of Future Generation to Move Out of Poverty Contributory Factors to Client Success
  • Not Everyone Makes It
  • Poverty Reduction is an Unstable, Roller Coaster Process
  • Economic vs. Ecological Dilemma
  • Need for Sustained MFI Services

The book is available for purchase at any of the PEF offices. Excerpts of the book will be made available for download soon. For more information, please contact us.

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