A total of five training events on Financial Literacy for Remittance Senders were conducted in Europe from January 31 to February 8, 2009.
In partnership with Stichting-Habagat, SEDPI was able to conduct three training events in the Netherlands – The Hague, Limburg and Utrecht. In Rome, Italy, the Overseas Filipinos Society for the Promotion of Economic Security (OFSPES) and in Frankfurt, Germany, the Filipino Catholic Community (FCC) hosted the training events.
The training aims to actively engage Overseas Filipinos to acquire and commit to the discipline of personal financial management to erduce their vulnerabilities. It also aims to encourage the productive use of remittances through socially responsible investments.
A total of 79 participants attended the training. One participant said, “the trainers provided practical examples that will help us improve our financial standing and in the long run, achieve our financial goals.” Some of the participants also invested a total of PhP1.5 million (USD30,000) to SEDPI Capital Credit, Inc. The investment will be extended as a loan to Microfinance Institutions in the Philippines – a true act of leveraging remittances for development through microfinance