04 March 2014 - The Philippine Embassy in Vientiane organized a seminar on financial literacy and investment opportunities for the members of the Filipino community in Laos last February 21 at the Embassy premises with the President and CEO of the Center for Agriculture and Rural Development Bank Inc. (CARD Bank) Ms. Dolores Torres as the resource speaker.

CARD Bank is a member institution of CARD-MRI which recently acquired its license to operate as an international NGO in Laos.  It aspires to improve the quality of life of socially and economically challenged women and families.The group implements cooperation projects in Laos with the United Nations Capital Development Fund (UNCDF), Bank of the Lao PDR (BOL) and other Lao financial institutions.

Ms. Torres provided an orientation on the different institutions of CARD MRI in the Philippines and its expansion to other ASEAN countries including Lao People's Democratic Republic (Lao PDR).  Investment opportunities were then discussed by Ms. Torres to give Filipino workers various options on where to put their hard-earned money.  She also presented various non-financial services that were developed by CARD MRI for women and their families.

Some sixty (60) Filipino community members benefited from the seminar and actively participated in the open forum/dialogue.  Filipino community members asked questions on challenges faced by microfinance institutions in the Philippines, loan interest rates, and delinquent members, among others. 

Philippine Ambassador to Lao PDR Maria Lumen B. Isleta, in her closing remarks, expressed much appreciation for the CARD MRI’s initiative as well as the support of the Filipino Community in Laos.

The seminar was followed by a simple dinner prepared by the Embassy.  END