Bulan, Sorsogon – The Department of Social Welfare and Development (DSWD) Field Office V, through the Pantawid Pamilyang Pilipino Program (4Ps), initiated the pilot implementation of the Digital Financial Literacy Program at Freedom Park on February 29, 2024, in Bulan, Sorsogon.

This innovative initiative aims to bolster financial inclusivity and sustainability among 4Ps beneficiaries, in alignment with Republic Act 11310, also known as the “Act Institutionalizing the 4Ps,” which underscores the importance of providing beneficiaries with capacity-building activities to enhance their sustainable well-being.

The pilot program included orientations on financial literacy and discussions on digital financial services, featuring partner representatives from Landbank of the Philippines (LBP), Bank of the Philippine Islands (BPI) Foundation, Ayala Foundation, GCash, and Maya, who introduced their respective services to 4Ps beneficiaries. Following the discussions, attendees proceeded with registration with their preferred digital financial service provider.

50 Pantawid households from various barangays of Bulan participated in the orientation. This initiative is expected to benefit the 400,503 active Pantawid households in the Bicol Region. Arceli Cruz Lizano, a 4Ps beneficiary from Zone 7 Bulan, Sorsogon said that the Digital Literacy activity had helped her a lot in terms of managing the cash grants from the program.

“Bilang nanay na araw-araw nagba-budget ng mga gastusin sa bahay, malaking tulong sa akin na malaman na mayroong mga banko at ibang pinansyal na institusyon na safe para paglagakan ng pera,” Lizano, shared.  (As a mother who budgets household expenses every day, it’s a big help for me to know that there are banks and other financial institutions that are safe places to deposit money) ,  Lizano shared.

The Bicol Region joins five other regions in piloting the Digital Financial Literacy Program, following the directive of DSWD Secretary Rex Gatchalian, marking a significant step towards integrating the economically disadvantaged into the country’s financial system.

The event was attended by the Assistant Secretary for the National Household Targeting System (NHTS) and 4Ps, Marites Maristela, who extended gratitude to the Local Government Unit of Bulan for hosting the event and to partner representatives for their staunch support.

Asec Maristela acknowledged the beneficiaries’ interest in participating in this transformative journey and emphasized the continuous efforts of the Pantawid Pamilyang Pilipino Program to strengthen its systems and mechanisms to enhance the financial inclusivity knowledge of 4Ps beneficiaries.