THE Department of Social Welfare and Development (DSWD) has chosen Cagayan de Oro as the pioneering city for the Digital Financial Literacy Program, which is part of the Pantawid Pamilyang Pilipino Program (4Ps).
The program’s launch took place at the city hall quadrangle on Saturday, February 24, with 50 beneficiaries of the 4Ps attending the event.
Crafted by the 4Ps National Program Management Office (NPMO), the program aims to enhance the financial literacy of 4Ps beneficiaries, guiding them towards achieving financial independence, particularly as they prepare to exit the program.
“The goal of this initiative is to equip individuals and families with the essential knowledge and skills for effective financial management,” stated Sheila Lumbatan, Chief of Staff in the City Mayor’s Office.
The event saw the participation of key figures including DSWD Undersecretary for the National Household Targeting System (NHTS) for Poverty Reduction and 4Ps, Vilma Cabrera, City Administrator Atty. Roy Hilario Raagas on behalf of Mayor Klarex Uy, DSWD-10 Regional Director Ramel F. Jamen, and City Social Welfare and Development (CSWD) Department Unit Head Meriam C. Caducoy.
Lumbatan emphasized the significance of cooperation among government bodies and local entities in advancing financial literacy.
She mentioned that the program enjoys support from various organizations including BPI Foundation Inc., Ayala Foundation, Land Bank of the Philippines, GCash, Maya, and the LGU-CDO through CSWD.
Lumbatan highlighted the combined efforts of public and private sectors in improving financial literacy within marginalized groups and promoting economic empowerment among the participants.
She expressed that through the Digital Financial Literacy Program, Cagayan de Oro hopes to serve as a model for other cities in the Philippines in fostering financial inclusion and empowerment among vulnerable groups.
According to Lumbatan, the initiative plays a crucial role in creating a more financially savvy and resilient society, contributing significantly to the welfare and progress of individuals and communities in the area.
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