DSWD, USAID E-PESO seal partnership towards financial inclusion of 4Ps beneficiaries

The Department of Social Welfare and Development (DSWD), represented by  DSWD Secretary Rolando Joselito Bautista, and  United States Agency for International Development (USAID), represented by  Mr. Mamerto Tangonan, Chief of Party of the USAID E-Peso project signed a partnership agreement E-Peso project last November 12, 2019  at the Conrad Hotel, Pasay City.  

The partnership will steer the Pantawid Pamilya beneficiaries towards financial inclusion as well as improve delivery of government’s financial services for the poor.

In this era of digital and with the rise of electronic commerce, the project will allow Pantawid Pamilya beneficiaries to access various digital e-money platforms and other opportunities to be involved in their economic activities.

DSWD Secretary Rolando Joselito Bautista said that the partnership will integrate financial inclusion in the program by transitioning the disbursement of cash grants to transaction accounts.

“Aside from our investment in their health and education, our 4Ps beneficiaries will also be provided access to formal financial services through the E-Peso initiative. This will help them increase their economic opportunities, which will lead them to improved quality of life”, shared Secretary Bautista in his message during the ceremonial signing.

The 4Ps is the flagship program of the government which aims to end the vicious cycle of poverty by investing the health and education of children aged 18 and below. It provides cash grants to compliant beneficiaries to respond to their immediate needs.

At present, the program beneficiaries receive their grants through their cash cards or from conduits authorized by Land bank, for beneficiaries who have yet to receive their cash cards.  

Also present during the signing are Mr. Domingo Conrado Galsim, Assistant Vice President of the Land Bank of the Philippines and Ms. Pia Roman-Tayag, Managing Director of the Banko Sentral ng Pilipinas. ###

Message of DSWD Secretary Rolando Joselito D. Bautista

USAID/E-PESO JOINT PARTNERSHIP CEREMONIAL SIGNING

November 12, 2019 – Conrad Hotel, Pasay City

Good afternoon colleagues in DSWD and partners in the Pantawid Pamilyang Pilipino Program!
 
Today marks another milestone in our goal to improve the quality of lives of Filipino families. Today, we kick-off a partnership with the United States Agency for International Development or USAID that will lead our dear Pantawid Pamilyang Pilipino Program beneficiaries towards financial inclusion and will improve the delivery of government’s financial services for the poor.
 
The 4Ps is among the major programs of the DSWD, with more than four million Filipino families as its beneficiaries.
 
And it brings me great joy that aside from our investments in their health and education, our 4Ps beneficiaries will also be provided access to formal financial services through the E-PESO initiative. This will elp them increase their economic opportunities, which will lead to improved quality of life.
 
Through this significant partnership with the USAID, we will be integrating financial inclusion into the program by transitioning the disbursement of cash grants to transaction accounts, the first step towards financial inclusion.
 
This will be supported by improving the financial literacy training program under the 4Ps by integrating the concept of transaction accounts for savings, related financial services like credit and insurance, and incorporating capacity-building skills, such as livelihood and entrepreneurship for sustainability.
 
These shifts towards financial literacy are the critical building blocks to the path towards financial independence among our 4Ps beneficiaries/
 
We believe that this will enable them to consistently afford what they need and in the long term, strengthen human and financial capital. These are the very thrust of 4Ps – sustainable path to financial independence.
 
In addition, we will be expanding our cash-out touch points by linking the initiative to payment infrastructures under the Bangko Sentral ng Pilipinas’ National Retail Payment System Policy Framework. This will enable the transaction accounts issued by DSWD’s disbursing bank to transact with cash agents of other financial institutions.
 
This initiative is also in line with the institutionalization of the 4Ps through Republic Act 11310. The 4Ps Act also calls for more opportunities for DSWD to collaborate and partner with other groups in the effort of leading every beneficiary towards financial independence.
 
We are very grateful to have shared this vision with our partner, the USAID. And we look forward to operationalizing this partnership soon together with our existing partners in 4Ps.
 
I would also like to commend, acknowledge our ongoing partnership and collaboration with other agencies, such as the Land Bank of the Philippines and Bangko Sentral ng Pilipinas, among others. We thank you for your continued support to the DSWD’s programs and services.
 
In turn, we assure everyone that the implementation of this endeavor towards financial inclusion and financial literacy will be done with integrity and transparency.
 
Before I end, I call on my DSWD family to continue providing the highest quality of services for the poor, vulnerable, and disadvantaged.
 
Millions of poor families in the country are in need of better opportunities in life, so we should be able to provide the necessary interventions and services that will help them reach their potentials and become productive members of society. We should ensure that the poor are the first citizens to reap the benefits of a prosperous Philippines.
 
Let us continue to support each other in reaching our goal of providing a strongly-rooted, comfortable and secure life for all Filipino families.
 
Maraming salamat po!