Financial literacy program launched for 'Yolanda' victims

TACLOBAN CITY, Sept. 14 (PNA) –- International aid organization Oxfam, Smart Communications and PayMaya Philippines in collaboration with the Tacloban City government launched on Monday the financial inclusion program here to benefit 16,000 people displaced by supertyphoon Yolanda nearly three years ago.

At the launch, Justin Morgan, country director of Oxfam said the organization believes that equitable access to financial services is crucial for them to rebuild their lives and livelihoods.

“We are happy that Smart and PayMaya are working with us to help the LGU of Tacloban rebuild the local economy by improving financial literacy and inclusion. We have good partners in this collaboration for Tacloban to recover faster,” Morgan said.

Oxfam is an international confederation of 18 organizations working in 94 countries, as part of a global movement for change, to build a future free from injustice of poverty. In the Philippines,

 Oxfam works with poor people to sustain their livelihoods and reduce their risks to natural and human-made disasters and climate-change impacts.

Charmaine Esguerra, 24, of Paseo de Legaspi village in this city, carried her four-month old baby girl to the launching. She was among the 300 people who joined the successful launch.

The stay-at-home young mother said she was excited when she heard about the program in her village as this will help augment the income in the family.

“I want to avail of the small store starter package incentive and resell the products. My baby is only four-months old and this package is convenient for me since I don’t need to go out to sell the items,” Esguerra said, whose husband is a construction worker.

The humanitarian project promotes entrepreneurship and the value of savings in communities.

Under the project, qualified beneficiaries will receive Smart Money prepaid cards that can be linked to their mobile phones – a mobile money product of PayMaya Philippines where they are encouraged to place any amount (PHP1 and above) through any Smart Padala Center in Tacloban. As they put their money, they will receive real-time notifications such as available balance via SMS.

Rewards and incentives are in-store for the beneficiaries. Once they reached a certain amount in their savings, they can opt to have a Smart Retailer package consisting of a Smart retailer SIM and credits that they can use to start a mobile load business.

Another choice is a sari-sari store starter set with Unilever products that they can resell as another source of income. 

The estimated 16,000 beneficiaries from 45 coastal villages in the city are encouraged to save everyday to develop the habit of savings.

City administrator Irene Chiu represented Tacloban City Mayor Cristina Gonzales Romualdez at the launch and thanked the partners in helping the city become resilient.

“It has been three years but Oxfam and Smart Communications are still helping the people of Tacloban and make our city better. This project is very helpful as not all have access to traditional financial banking system and it makes it easier for people to save through Smart and PayMaya,” Chiu shared.

Through the Financial Inclusion for Tacloban Resettlement Integrated Program (TRIP), the beneficiaries will also get accident insurance.

For families composed of six or more members, the family is entitled to two beneficiaries who are 18 and above and belong to vulnerable group -- senior citizens, persons with disabilities (PWDs), conditional cash transfer beneficiaries, single parents, child-headed families and pregnant or nursing mothers.

Tacloban Vice Mayor Jerry Yaokasin who graced the event said that that he and the people of Tacloban are grateful for this financial literacy and entrepreneurship program.

He said that this program uses technology to fight poverty, fight injustice, uplift and empower our people. “This is the kind of program that ensures that nobody is left behind.”

For Alex Hembra, 65, a pedicab (cycle rickshaw) driver from Calanipawan village said the program will assure him of alternative and better income.

"I am too old to drive a pedicab. My dream is to have a mobile store. I know this will come true with this program," said Hembra, who lives with his 73-year-old brother, also a pedicab driver.

Benjie Fernandez, co-chief operating Officer of PayMaya Philippines shared that this program revolves around the slogan of the launching "Handa, Matatag, Determinado, Asenso Tacloban!

“We made the technology available for the resilient people of Tacloban. The program provides education through series of financial literacy caravans in communities, incentives and start-up businesses,” Fernandez said.

"PayMaya Philippines is committed to creating a long-lasting impact on the development of communities through our financially inclusive innovations including Smart Money, which provides sim-based mobile money services." (PNA)
JMC/SQM/VICKY C. ARNAIZ/EGR