Bangko Kabayan gets development assistance from telecommunications firm

MANILA, Philippines - Globe Telecommunications Inc. (Globe) has awarded livelihood grants to two outstanding Bangko Kabayan microfinance centers composed of entrepreneurial housewives.

The grants are in line with the Globe Enterprise Development Program (EDP) to help spur economic development at the grassroots. The awarding coincided with the 10th anniversary celebration of Bangko Kabayan, a leading rural bank based in Batangas province.

KAPITAN Macalamcam B2, topped the list of 15 applicants, followed by KAPITAN Bayanan 3. The two centers received P30,000 and P20,000, respectively, to help them expand their businesses. KAPITAN stands for Kapisanan ng mga Ilaw ng Tahanan.

Globe Corporate Social Responsibility head Jeffrey Tarayao said that the small community enterprises of Bangko Kabayan have exemplified how small business programs can support economic self-sufficiency in their own communities.

“They have empowered their members to contribute to the welfare of their own families and their immediate communities,” Tarayao added.

Aside from Bigasan Center and chair rental services, KA-PITAN Macalamcam B2 located in Macalamcam B, Rosario, Batangas, plans to use the funds to branch out into meat processing and retailing. The center has 23 members.

On the other hand, KAPITAN Bayanan 3, which is based in Bayanan, San Pascual, Batangas, looks forward to getting additional funding for its home care products business such as dishwashing liquid, fabric conditioner, and powder detergent. KAPITAN Bayanan is composed of 17 housewives wanting to improve their lives.

The Globe BridgeCom livelihood grant was offered to all KAPITAN Centers, which are Bangko Kabayan microfinance groups. The criteria for the selection include the financial viability of the project (40 percent), community benefit (40 percent), and innovation (20 percent).

Globe introduced the livelihood grant in 2009 to help sustain and expand community enterprises.

Two years ago, Globe also provided livelihood skills training to top Bangko Kabayan micro-enterprise clients who were showcased during the Globe Entrepreneurship Fair. The specialized training under the Globe Enterprise Development Program (EDP) equipped them with skills on marketing, operations, and financial management, as well as modules on how to create viable new products and services with the use of information and communication technology.