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Building clientcapacity irmacosico


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Building clientcapacity irmacosico

  2. 2. Vision A global training centre that helps migrant workers make their overseas work experience more meaningful and productive. Mission To change the mindset of migrant workers and their families so that they become entrepreneurial through back-to-back coaching and training on financial literacy and basic entrepreneurship.
  3. 3. Financial Inclusion Model • Back-to-back training • Reversed the traditional model of microfinance  Training first before microfinancing • A different MIS • Crossborder microfinancing • Partnerships with academe, government agencies, local banks in Singapore and other countries
  4. 4. Financial Education (FinEd) • • • • • 5 Sundays, 3 batches a year Learning materials co-developed with the National University of Singapore (NUS) Volunteer-trainers from Citi Asia Pacific and NUS Requirement to graduate: Submission of 5-year Financial Goals plan and passing the Recital Objective: To provide information on and access to financial products and services; financial understanding, competency and responsibility
  5. 5. Basic Entrepreneurship (BE) • • • • 12 Sundays, 4 sections, average of 50 students per session ‘Social Entrepreneurship’ module conducted at the National University of Singapore Requirement to graduate: Passing of Business Plan Recital conducted with ASKI Global panel Objective: To acquire an entrepreneurial mindset and start allocating funds for productive activities
  6. 6. Training Program No. of Enrollees No. of Graduates Notable Impacts 1 Financial Education for Migrants 603 536 About 80 students have established micro enterprise business from their savings. 2 85% have become savers, saving the most 20% of their monthly salary. 3 More than 10 have invested in financial instruments. 4 100% have started budgeting and allocating funds between savings, home consumption and personal expenses. ASIAONE News: 8 MARCH 2012
  7. 7. Training Program No. of No. of Enrollees Graduates Notable Impacts 1 Financial Education for Families (Back-toBack) Kenneth (8) and Bryan (7) Silvestre with their bamboo coin banks. - 353 Increased awareness of financial products and services among family members. 2 Developing savings habit among young children. After undergoing training on Financial Education in Singapore, OFW Rosie Silvestre shared with her kids the importance of saving money. Her kids were so inspired that they have used local materials to develop their own coin banks. Indeed, “like mother, like sons.”
  8. 8. Training Program Basic Entrepreneurship No. of Enrollees 874 No. of Graduates 776 Notable Impacts 114 migrant workers have accessed financial assistance from MF partners in the Philippines. Total portfolio of Ps. 12.6M with a repayment rate of 99%. Partner MFIs: ASKI Philippines: Ps. 12,530,226.00 Enterprise Bank: Ps. 100,000.00
  9. 9. Training Implementation
  10. 10. Training Implementation