COTABATO CITY -- The Ministry of Social Services and Development (MSSD) through the Sustainable Livelihood Program (SLP) conducted a series of financial literacy training for 1,290 indigent program participants across the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The training sessions took place simultaneously in various provinces including Sulu, Basilan, Maguindanao del Norte, Maguindanao del Sur, Lanao del Sur, and the BARMM Special Geographic Area from October 9 to October 12, 2023.

Of these trained participants, 473 hailed from Basilan, 460 from Lanao del Sur, 118 from Maguindanao del Norte, 174 from Maguindanao del Sur, and 65 from Sulu who were farmers, fisherfolks, retailers, solo parents, and displaced individuals.

The financial literacy training serves as a prerequisite for the release of seed capital funds to qualified program participants, ensuring that they are well-equipped with essential knowledge and skills for effectively managing their microenterprise projects. The program not only empowers individuals economically but also promotes self-reliance within the communities.

The Ministry of Social Services and Development (MSSD) through the Sustainable Livelihood Program (SLP) conducted a series of financial literacy training for 1,290 indigent program participants across the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Photos courtesy of BARMM-MSSD. 

During these training sessions, SLP Implementing Project Development Officers (IPDO) and Capacity Building Project Development Officers (CPDO) provide in-depth lectures on key concepts and principles related to bookkeeping, saving, and managing finances.

Samra Alik, the Regional Program Coordinator for SLP BARMM, stated that the payout for the trained participants will commence next week. This will coincide with the continued financial literacy training for other program participants in other municipalities and provinces of BARMM.

“This year, our target is to empower a total of 6,508 program participants across the entire region. They will all undergo skills training and receive Php 15,000 each to start or bolster their microenterprises,” Alik explained.

SLP is a nationally-funded program implemented by MSSD in the region that aims to uplift the vulnerable, indigent, and marginalized individuals by capacitating and providing them with seed capital funds for their small-scale businesses. (Jidday Lucman, Information Officer III of MSSD)

Participants who attended the financial literacy training conducted by Ministry of Social Services and Development (MSSD) through the Sustainable Livelihood Program (SLP) across the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Photos courtesy of BARMM-MSSD.