PSI Inc. to Launch PSI NGO

PSI NGO
The board of PSI Inc. has approved the motion to seriously explore the putting up of a PSI NGO - Micro-financing Project. The said project will be a common vehicle for graduates to give back to the community.

The PSI NGO venturing into Microfinance is a brainchild of two of PSI’s respected facilitators, Kokoy Reonisto and Sonny Vicente. Both attended a seminar of Dr. Jaime Aristotle Alip – the founder of the most successful micro-financing organizations in the Philippines. Dr. Alip is also the recipient of the 2008 Ramon Mgasaysay Award for founding an improved version of the Grameen Banking Approach founded by Dr. Yunus from Bangladesh.

Micro-financing
Micro-financing is providing a broad range of financial services such as deposits, loans, payment services, money transfers and insurance products to the economically- challenged and low income households and other micro enterprises. These services however should NOT be mistaken as subsidized credit, a dole out, a salary / consumption loan NOR a cure to all poverty.

The clients of the project are the economically-active, entrepreneurial poor (e-poor) i.e. shopkeepers, ambulant vendors and household entrepreneurs. These are the clients who have stable economic activities and will be able to sustain and enhance them if only they are provided with even a small amount of readily available funds.
The details on the operation can best be provided on the general meeting of the investors in November where clarification and additional information will be provided.


Call for Investors to Make a Difference
Kokoy has observed that quite a number of PSI grads would like to give back or pay it forward because of the positive results they got in applying the learning from PSI seminars and programs. He thought that this can be an effective way of putting up a common vehicle for the graduates in pulling their resources (synergy) together to give or pay forward.

The board is now collating and researching the numbers and activities to be done to add flesh to Kokoy’s thought. One crucial activity is identifying the first batch of investors consisting of 100 PSI graduates who will be contributing P10,000 each which will be the initial seed money of the project.

When all details are squared away, the board will launch the project on November 22, 2008, Saturday 2pm at the PSI office. If you are interested please call Vickie Vicente at 8960938 / 8970900 / 09274322462.