PROJECT PROPOSAL
I. BASIC INFORMATION:
Project Title: Financial Literacy and Livelihood Development Project
Project Location: Brgy. Payatas, District II, Quezon City (to be replicated
in other areas)
Project Type: Financial Literacy Awareness Campaign and Income
Generating Project
Contact Persons: Cecile G. Benitez – Asst. Program Director
Ernie M. Maceda – Program Director
Project Proponent: ACTS-OFW Partylist
II. BACKGROUND / RATIONALE
Migrant workers has a much contributing factor in the Dollar earnings
of our country which could become a material force for enterprise
development that could boost the national economy of the
Philippines. According to the Bangko Sentral ng Pilipinas (BSP),
annual OFW remittances have more or less US$20 Billion in 2010. But
it is a reality that Filipinos have not learn to be great savers compared
to citizens in the Southeast Asia neighborhood.
According to Cieleto F. Habito, of the Ateneo de Manila and former
NEDA chief, quoting data from the Asian Development Bank (ADB),
“the ratio of Philippine gross domestic saving (GDP) to gross domestic
product (GDP) which measure national income, was 18.8% in 2002,
against Singapore’s 44.8%, Malaysia’s 41.9%, Thailand’s 31.1% and
Indonesia’s 21.1%”.
Why do Filipinos save so little? Is it because most Filipinos are too
poor to save? Why not encourage savings consciousness among
Filipino migrant workers? After all, they account for most of the
country’s foreign currency in remittances.
III. OBJECTIVES:
1. To understand how savings is transformed into productive use and
encourage participants to generate ideas for investments.
2. Strengthening behavior of remittance senders and recipient to foster
increased savings, reduce risk and encourage more productive and
responsible spending.
3. Empowering migrants and their families through financial planning,
building an asset base and entrepreneurship in case of repatriation.
IV. TARGET BENEFICIARIES:
1. Remittance senders and recipients
2. Migrant associationss both local and international,
3. Potential OFWs and the general public as well, particularly on
livelihood development.
V. PROJECT DESCRIPTION:
Financial Literacy is the ability to make informal decisions and to take
effective actions regarding the current and future use and
management of money. It is also the ability to understand financial
choices, plan for the future, spend wisely, and manage the challenges
associated with life events, such as loss of job, medical mergencies,
house constructions, saving for retirement and paying for child’s
education.
To improve financial literacy is through general awareness campaign
on the importance of remittances and putting them to good use,
campaign has a clear message through various tools such as
brochures, posters TV commercials, radio, etc and most important
conduct forum where the target group meet and engages in various
social activities and business.
Savings is the money set aside by individuals either for some special
purpose or to provide an income at sometime in the future or
retirement. It is that part of your disposable income that is not
consumed. It then become a financial asset that can be used to
purchase interest earning financial assets or directly invested in
business.
It is sought to encourage migrant workers to invest their savings in
their hometown thus generating jobs at home to which migrant
workers could return in case their work contracts are prematurely
terminated or when the migrant worker feels that he would like to
reintegrate to their home place.
The strategy called for the organization of migrant workers savings
association based on territoriality or savings investment group.
Migrant workers coming from the same areas or regions are
encouraged to form themselves into savings associations and to plan
ways of raising savings and investments funds. When the funds
matured and are sufficient to start a small or medium sized
enterprise, this would then be invested after competent partners had
completed a process of trainings of managers and after feasibility
studies would have been evaluated and approved for the said
purpose.
VI. GEOGRAPHICAL COVERAGE:
This Financial Literacy and Livelihood development Project is
intended to be implemented to any Barangay throughout the National
Capital Region and the provinces throughout the country. It aims to
work with local organizations in the area with particular
consideration of the Families and members of migrant workers.
VII. PROJECT MANAGEMENT:
The project will be managed by the officers and members of the local
associations in the area. For assurance that the project will be
properly implemented, it will be clearly monitored and evaluated
periodically by the officers and members of the Constituency Office of
Congressman Aniceto “John” D. Bertiz III. Monthly and quarterly
report will be required for each organization to see to it that
execution of the project guidelines is properly followed.
VIII. PLAN OF ACTIVITIES:
Activity Timeline In-charge
Pre-implementation Phase: 5 days Project Coordinator
1. Preparation of project proposal
2. Submission of project proposed 1 day Project Coordinator
3. Evaluation / approval of project 3 days Technical Committee
proposal
4. Fund allocation/ release 3 days Office of the
Congressman
5. Preparation of Materials for the 5 days Constituency Office
training / seminar
Implementation Phase: 10 Coordinator
1. Orientation of association minutes
officers and members
2. Lecture on Financial Literacy 2 hours Lecturer
3. Preparation of materials 10 Officers of Organization
needed in the (Demot) minutes
livelihood project
4. Teach-in / Demonstration of 40 Livelihood Lecturer
Livelihood Project with minutes
audience participation
Implementation Proper of Financial 2–3 Officers and members
Literacy Savings months of Association
Implementation of Livelihood Continuing Association Mambers
Project (Funding – from Savings) Process
IX. BUDGETARY REQUIREMENTS:
Materials and Equipments Needed:
Unit Description Qty Unit Cost Total Cost
Mono-block chairs (rental) 60 P12.00 P 720.00
Sound System (rental) 1, 500.00
Transportation 2, 000.00
Tarpaulin / Signage 500.00
Food and drinks 60 P 50.00 3,000.00
pax
Seminar Leaflets 200.00
Flip charts with stand 600.00
Lecturer’s Fee (optional) 2,000.00
T-shirt uniform (printed) 10 P 300.00 3,000.00
Materials for Demo on Livelihood 1,500.00
Projects
Training hand-outs for participants 300.00
TOTAL P 15,320.00
X. SOCIO ECONOMIC IMPACT:
The Project will open the minds of migrant workers and the
community as well on how to save and invest even with their meager
income for future use. At the same time creates livelihood
opportunities for their neighborhood and other communities.
Financial Literacy and livelihood opportunities in the community is
difficult to achieve when responsibility is left alone to them without
an outside intervention. The transfer of knowledge and learning will
develop compassion to our community leaders to become
institutional stewards in the future.
ERNESTO M. MACEDA
Program Director
HON. ANICETO “JOHN” D. BERTIZ III
Representative,
ACTS-OFW Party list
Note:
Project Implementation to be replicated in every barangay of the National Capital
Region and /or the entire country as well, whenever possible.
