Executive Summary: Hapinoy Project Bagong Araw began its groundwork last April 2014. Month 1 of the Program had to be moved one month later to facilitate last minute Donors and to further iron out details with the partner Microfinance Institutions (MFI). Project Bagong Araw Month 1 formally happened on June 2014 where MVF started to train potential beneficiaries. By the start of July 2014, all the slots sponsored by Donors have been filled-up by qualifying beneficiaries, after MVF and the partner Microfinance Institutions’ (MFI) validation process. Towards the end of July 2014, three weeks later than projected completion, all the first tranche of the loans to the beneficiaries have been disbursed.
