We are pleased to share with you the report, Financial Product Innovations Fund: Case Studies on Product Innovation. The seven case studies featured in this report illustrate the unique circumstances, steps undertaken, and lessons learned by each of the grantees of the Financial Product Innovations Fund (FPIF) in pursuit of the most relevant product to offer to their clients in the agriculture and fisheries sector and poor households in remote, hard-to-reach areas.
In this publication, you will learn how ECLOF came about with its High Value Crop Loan and Non-Irrigated Rice Farm Loan. You will also know how CARD NGO’s Sikap 3 Loan, an agriculture-microfinance program for indigenous peoples, was implemented. Moreover, AKMA’s Innovative Credit to Assist Farmers is also highlighted, along with SCFI’s Sustainable Agriculture Production Financial Assistance. FPSDC’s AGREE Microfinance for fisherfolk, coco sugar producers, and rice-duck farmers and LMPC’s Ulang (fresh water shrimp) Production Loan are also featured in this report – both offering valuable insights on the challenges of financial product innovation, especially from the implementation standpoint. The compilation ends with the Mobile Phone and ATM Banking in Hard-to-Reach Areas project of SEEDFINANCE – a fine example of how microfinance could best maximize available technology in order to broaden financial inclusion.
On behalf of the Interchurch Organisation for Development Cooperation (ICCO), Oikocredit Philippines, and the National Confederation of Cooperatives (NATCCO), we extend our deep appreciation to the participating institutions for the time and resources that they have invested in the project, not only as grantees of the FPIF, but more importantly as partners for development at the grassroots.
We hope that the case studies will be useful to your organization.