3 December 2021 — Alalay sa Kaunlaran Group of Companies, Inc. (ASKI) received the Best Innovation in Financial Services Award in the Karlsruhe Sustainable Finance Awards 2021. The award was given by the City of Karlsruhe and the European Organisation for Sustainable Development in recognition of ASKI’s success in financing micro and small enterprises, and green energy projects.
Minister and Consul Mary Luck Hicarte received the award on behalf of ASKI and conveyed the message of the Embassy of the Philippines in Germany. The message focused on the Philippines’ being one of the countries most vulnerable to climate change despite its low carbon footprint; and the potential of financial institutions to be great catalysts for sustainable development. On behalf of ASKI, the Embassy thanked the Karlsruhe Government and the European Organisation for Sustainable Development for elevating the profile and spreading the word about firms that practice and promote sustainable finance.
ASKI was formed in 1986 by a group of Christian business leaders in Nueva Ecija to promote economic inclusion among Filipinos in rural areas. From a starting fund of Php60,000 provided by the Maranatha Trust of Australia, the group’s total portfolio has reportedly grown to Php1.7B. With 95 branches in Northern and Central Philippines, it is said to serve more than 130,000 clients, and to have 800,000 members and their families covered through its social protection program. (END)