01.09.2019

Philippines | Strengthening financial associations as providers of vocational training and financial literacy


Country
Philippines

Local project partner

Mindanao Alliance of Self-Help Societies - Southern Philippines Educational Cooperative Center (MASS-SPECC),
Mindanao Microfinance Council (MMC)

German project partner
to be defined

Donor

BMZ

Duration
01.10.2019 - 30.09.2021


 

Following the introduction of the Microfinance and Accounting programs by the Sparkassenstiftung in the Philippine Joint Undertaking for the promotion of dual vocational training in the Philippines together with sequa, AFOS, DIHK, GIZ and ZDH, cooperation with the partner associations is now being extended. Support is needed to ensure greater sustainability and broad impact of the approaches that have so far been successfully piloted.

The project starts simultaneously on the micro and meso level. Microfinance associations should be strengthened so that they can offer both vocational education and training for MFI staff, in order to professionalize the supply side of microfinance services. At the same time, the improvement of basic financial education strengthens the demand side for financial inclusion.

The overall objective of the project is to improve the quality of life of Filipino families through financial inclusion and higher employability of adolescents. Financial associations should be strengthened to act as service providers and key coordinators of hands-on education and training and financial education.

The indirect target group of the project are low- and middle-income earners with their families. As clients of microfinance institutions, they benefit from professional client advice, sustainable financial institutions and the provision of basic financial education. Young people, young entrants and their families benefit from the dual vocational training, which provides them with income and offers them career and personal development opportunities

 

 


Sparkassenstiftung für internationale Kooperation e.V.
Simrockstraße 4, 53113 Bonn

Phone: +49 228 9703-0
Fax: +49 228 9703-6613 or -6630

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