Last February, SEDPI conducted five financial literacy trainings in Switzerland and Italy. SEDPI’s President-CEO Vincent Rapisura and Chairman Edwin Salonga conducted the trainings. A total of 106 OFWs attended the training. The training was made possible through the support of Pilipinas-OFSPES in Italy and Samahang Pilipina in Switzerland.
According to the Philippine Overseas and Employment Agency and the Central Bank of the Philippines, Switzerland and Italy are among the European countries that sent the most amount of remittance to the Philippines. In relation to that, the training provided by SEDPI aims to equip the OFWs with knowledge and tools that will help them manage their earnings effectively so that they could realize their dreams. Mr. Salonga said, “During our workshop, we ask the participants to draw their dreams and aspirations. We do this to remind them of the reason why they left the Philippines in the first place and endure living in a foreign place.” To add to that, Mr. Rapisura points out to the participants that there is stage in attaining financial freedom. He said, “Achieving financial freedom is not easy, especially for migrant workers. Gaining insight on financial literacy is a step that could take them nearer to their aspirations.”
One participant, Ms. Ginafe Sison said that she attended the training in order to have knowledge on handling her finances. She hopes that this could help her start a business once she returns to the Philippines. Most participants expressed that their intention to attend the training is to gain personal growth to help them achieve their dreams.
This project is a spin off from the previous literacy training program funded by the Catholic Organization for Relief and Disaster Aid (CORDAID). Today, SEDPI provides a counterpart of one percent of the mobilized social investment from OFWs to fund the trainings. In the future years, SEDPI hopes to continue this initiative in order to contribute to the welfare of Filipinos working abroad.