Microfinance Focus, March 21, 2011: To address the challenge of recruiting quality human resources for positions in the micro-finance sector in the Philippines, three institutions inked a memorandum of understanding (MOU) that will upscale the micro-finance sector in the country through human resource development.

The Ramon Aboitiz Foundation Inc. (RAFI) led by its micro-finance executive director Ma. Theresa Catipay signed a memorandum of understanding with the University of San Carlos (USC)-College of Commerce represented by USC President Fr. Dionisio M. Miranda, SVD, and PinoyME Foundation represented by its President and Chief Executive Officer Danilo Songco.

The signing of the MOU came about after the Partner’s Forum held at the University of San Carlos on March 1.

According to PinoyMe’s Chief Executive Officer Mr. Songco, “Around 10,000 people are needed to fill the vacancies of the micro-finance sector in the Philippines. The MOU will help address this. It was initiated to confirm the collaboration of the three institutions towards the offering of micro-finance education.”

Under the MOU, USC will integrate micro-finance courses in its Business Administration curriculum by rolling out a ladderized program using a competency-based curriculum and a dual training system (DTS).

The DTS will provide students with two venues of learning—the school and the industry—where they can learn to be loan officers, team leaders, and branch managers.

RAFI Micro-finance will cooperate with USC to improve the capability of their human resource and that of the micro-finance sector in general. It will also serve as a venue for students to be exposed and trained in micro-finance operations.

Hanns Seidel Foundation/ Germany and PinoyME will provide USC technical support, including the competency-based curriculum, the copyrighted learning materials, technical assistance, and training of faculty on dual training system management, among others.

PinoyME Foundation is a non-stock, non-profit organization that engages in social investment banking for micro-finance institutions.

In this program, students learn the principles and concepts of the micro-finance industry. They will also be exposed to the field by doing the tasks of a regular micro-finance institution (MFI) operational employee, depending on the agreement.