2007 Accomplishment Highlights

In the year 2007, AGB doubled its size from five branches serving microfinance to poor families in Cagayan de Oro, Butuan City, Nasipit Agusan del Norte, Malitbog and Manolo in Bukidnon, to nine branches.

It has even taken an ambitious leap by expanding its operations in Quezon City and Caloocan. Other expansion areas are Gingoog City, Cagayan de Oro City and in Maramag, Bukidnon. The foundation has also set its sights on expansion into two more areas in Lanao and Bukidnon.

From twenty-six  paid staff in 2006, the current workforce is now forty-six.

The executives of the foundation—Mr. Ernesto C. Galenzoga, Chief Executive Officer and Ms. Malu Nobleza-Tumang, Chief Operation Officer, took time to study the latest microfinance technology at ASA Microfinance Training Institute in Dhaka, Bangladesh.

AGB’s microfinance service continues to serve the enterprising poor women who are committed to transform their lives through their micro-enterprises in trading, retailing, manufacturing, services and farming.

At the end of the year, AGB was able to extend microfinance assistance to 5, 279 individuals.

The assets of the foundation have also grown from 9.2M in 2006 to 24.1M in 2007. Likewise, the loan portfolio has more than doubled from 7M in 2006 to 19.1M in 2007.

Other Programs

The Banana Livelihood and Enterprise Development (BLEND) project initiated in 2006 has shown signs of success through the banana farms established in Balingoan, Talisayan, Medina, Kinoguitan and Gingoog City. Each site features a 30 hectare banana farm. This project was made possible by AGB’s partnership with Governor Oscar S. Moreno of Misamis Oriental.