Mi-MBA Model presented at Yokohama International Conference
Mi-MAP Executive Director, Mr. Jun Jay Perez, introduced the Microinsurance Mutual Benefit Association (Mi-MBA) model of the Philippines at the International Forum for Sustainable Asia and the Pacific held in Yokohama, Japan on July–12–13, 2016.
Mr. Perez discussed that the Mi-MBA model being implemented in the Philippines focuses on prioritizing low-income households and maximizing benefits for beneficiaries. He further emphasized that through thorough research, forging partnerships with monitoring agencies, and enabling policy advocacy, the mutual microinsurance sector flourished in the country. It serves now as supporting entityin risk reduction by providing resources in time of unforeseen expenditures. He also highlighted Mi-MAP’s role as a microinsurance resource center with an overall goal of achieving greater financial inclusion.
The conference underscored that financial inclusion is a pivotal contributor to sustainable development and climate change adaptation. This intensified the call to provide the marginalized sector with easy access to appropriate financial services in line with the achievement of the Sustainable Development Goals (SDGs).