The Alalay Sa Kaunlaran, Inc. (ASKI), a non-government organization based in Cabanatuan City, Nueva Ecija was recognized in the recently concluded Karlsruhe Sustainable Finance Award 2013 at the Global Sustainable Finance Conference held recently in Karlsruhe, Germany.
ASKI received the Certificate of Merit for the Best Innovation in Financial Services for its success in embedding sustainability and environmental initiatives in its agricultural loan program.
This year’s theme focuses on 3Ps – People, Planet, Profit. ASKI’s award recognizes outstanding success in financial products and services that balance the 3Ps.
According to the organizers, “the winners in the Best Innovation in Financial Product have applied innovative approaches in embedding sustainability in lending and/or deposit products and other financial services that advance the transformation to low carbon and sustainable economy.”
The awarding was co-presented by the European Organization for Sustainable Development (EOSD) and the Association of Development Financing Institution in Asia and the Pacific (ADFIAP).
Other awardees from the Philippines include the Landbank of the Philippines (LBP) and Development Bank of the Philippines (DBP).
In November 2012, ASKI won the 4th European Microfinance Award held at the European Investment Bank in Luxembourg, besting entries from 15 countries.