Indeed, we continue to post gains in our program to develop a more inclusive financial system that will promote inclusive growth. Ladies and gentlemen. This year’s CMA is taking place on the heels of super typhoon Yolanda that devastated parts of Leyte, Samar and other islands in the Visayas. Some of our previous CMA winners were not spared.
Our regional winners from Bantayan and Malaspacua Islands in Cebu reported that the typhoon wiped out everything they owned. Also affected are our previous winners living in Iloilo, Negros and Leyte. Destructive natural calamities underscore the importance of having adequate insurance protection especially for the most vulnerable. In particular, microinsurance can protect the hard-earned gains of our microentrepreneurs.