Like you, we’ve been stunned by the devastating news coming out of the Philippines. Even in the midst of such tragedy, we’re heartened by the many stories of survival and the resilience of Filipinos.
Prior to the storm, many Filipinos saved their money under their mattress, or some other hidden spot in their home. A formal savings account can make a critical difference for those whose homes were washed away in the Typhoon.
It is still too soon to assess the full impact of Typhoon Haiyan in the Philippines, especially on the country’s poorest citizens. It is clear, though, that microfinance institutions can play an integral role in the recovery. Two of our microfinance allies, CARD and NWTF, operate in the provinces that were hardest hit by the storm.