BSP, Parañaque LGU, and BDO Foundation forge partnership for fin ed program

Before the break of dawn, Jose Cabanza Jr. of Barangay La Huerta in Parañaque wakes up to prepare his fishing equipment before heading to Manila Bay by sunrise to haul in his catch for the day. But for fishers like Jose, not every day is a good day. “Pabago-bago po [ang kita] katulad ngayon, medyo may sama ng tubig, namamatay ang ibang tahong (My earnings fluctuate. Recently, some mussels are dying due to poor water conditions),” he said.

Jose is just one of the target beneficiaries of a financial education program of the Bangko Sentral ng Pilipinas (BSP), the City Government of Parañaque, and BDO Foundation. Advocated by the City Agricultural, Fisheries, and Aquatic Services Office of Parañaque, the initiative aims to equip fisherfolk with the knowledge and tools to better manage their finances amid the challenges faced by the sector.

“They need technical knowledge to improve their lives,” said Amie Hernandez, OIC of the Parañaque City Agri Office. “This partnership actually seals that intention. And someday, our people will be more than capable of managing their financial capacity or their resources.”

The financial education program was launched recently in a ceremonial event held at the Parañaque city hall. Present were leaders of fishing cooperatives in the city, key stakeholders from other sectors, and representatives from the BSP and BDO Foundation. Also in attendance were Parañaque City mayor Edwin Olivarez and District 1 representative Eric Olivarez.

In his message of support, BDO Foundation president Mario Deriquito shared “3 Ps” that illustrate what the financial education program is all about—partnership, practical knowledge, and preparedness. “Kung marunong po ang mga tao na mamahala sa kanilang kinikita, nagiging matatag po sila (If people know how to manage their finances, they become resilient),” Deriquito said.

The BSP also lauded the partnership as it supports its whole-of-society approach to financial education. “This collaboration shows what is possible when the public and private sectors, such as BDO Foundation, work hand-in-hand for the good of our communities,” said BSP Economic and Financial Learning Office director Marianne Santos.

Other beneficiaries are also looking forward to the financial education program. “Nag-iipon po kasi talaga kami mag-asawa pero sabi ko parang mas maganda may matututunan pa. Gusto ko po matutunan yung proper na pag-iipon sa bangko (My husband and I are already saving, but we want to learn more. I want to understand the proper way of saving in a bank),” said Mary Jane Gutierrez, a vendor at Parañaque’s Bulungan Seafood Market.