PREMIUM - Philippines
- Term: 4 Years
- Budget: 4.5 Million
- Direct Beneficiaries: 1600
- Implementation Partners: CARD MRI, RIMANSI, Microventures Foundation (MVF), HAPINOY
- Financial Partners: CDF Canada, GAC
Merle Yboa is one of 1,600 sari sari convenience store owners in CDF Canada’s Premium project. She took in her siblings and their children when Typhoon Yolanda destroyed their homes, and now she’s learning to purchase and sell micro insurance to help entrepreneurs like herself rebound from disaster. Her business and family are more resilient.
The Philippines is one of the most disaster-prone countries in the world. Each year, the country suffers from damages and losses brought about by natural disasters. On November 8, 2013, Typhoon Haiyan (locally known as Yolanda) hit the country, leaving some $17.5 billion in damages.
"CDF Canada’s PREMIUM project is helping 1,600 sari sari store owners in Leyte and Samar provinces break the cycle of vulnerability to calamities like Yolanda by providing needed business training, insurance protection and financing to expand or upgrade product offerings. "
Extreme weather events bring huge setbacks to women like Merle whose small home-based retail shops are an integral part of Philippine society, not only as places to purchase household goods but as community meeting places for updates on information and current events. In times of disaster, the local sari-sari store is one of the first places people go for supplies, yet the shops themselves are ill-prepared to cope with disaster and often experience losses related to property, inventory and business interruption.
CDF Canada’s PREMIUM project is helping 1,600 sari sari store owners in Leyte and Samar provinces break the cycle of vulnerability to calamities like Yolanda by providing needed business training, insurance protection and financing to expand or upgrade product offerings. Our hope is that the success of this project will one day be shared with sari sari shop owners in other communities across the Philippines.