Inspiring women
Early this month, the Senate approved Senate Bill 1305 or the Expanded Maternity Leave Law of 2017, granting expectant mothers a 120-day leave both in the public and private sectors. Twenty two senators voted for the said bill sponsored by Senators Risa Hontiveros and Juan Edgardo “Sonny” M. Angara. The proposed law aims to provide mothers adequate transition time to regain their health and over-all wellness before assuming to their full-time work.
In line with the celebration of Women’s Month this year and with this new Senate bill, this writer would like to share with the readers some success stories of women who endeavour to make a difference in business, linking the missing middle and how the Development Bank of the Philippines (DBP) assists them to reach their goals.
The Inclusive Lending for Aspiring Women Entrepreneurs Program, or ILAW, has been recognized as a platform for DBP’s support for women entrepreneurs. This program is a recipient of Merit Award from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) during the recent ADFIAP Awards held in Vietnam last May 2015. The program provides loans at a minimum of P300,000 for women led businesses, whether as majority owner or as CEO/COO of a partnership or corporation.
Three of our clients worth citing are Joyce and Diana Worldwide, Havila Construction and Modagraphics Builders Corp. Joyce and Diana Worldwide is one of the top five linen companies in the country. Their Chairman of the Board, Ms. Sally Fung, although foreign in descent, has a huge heart for Filipino workers employing 429 regulars assigned in 8 factories and department stores. The company’s treatment of its people has helped it grow productively and with the right quality goods. The loan of the company through ILAW does not only generate employment for our countrymen. It has supported and promoted tourism in the Philippines by serving as institutional supplier to some of the bigger hotels and restaurants through its sister company, Globalinens Worldwide, Inc.
Havila Construction and Development Corporation ( HCDC) is a private developer organized by Kalipunan ng mga Samahan Para sa Makabagong Pamayanan, Inc. (KASAMA-PA Inc.) and Havila Resettlement and Housing Development Inc. ( HRHDI). All these three entities are spearheaded by women namely: Ms. Marilyn Gilo, Ms. Evangeline Luciano and Ms. Olivia P. Tomobos. The aim of this Corporation is to pool resources for the acquisition of secure tenure shelter arrangements for low- income families and renters in Valenzuela City. Between KASAMA PA, Inc. and HRHDI, about 6 housing projects have already been successfully implemented benefiting 356 members. Their ILAW loan is used to encourage more NGOs and private sector groups to engage in low-cost housing, promote creation of institutional arrangements between and among communities, their local governments, support organizations and resource centres for poverty reduction. They facilitate the development of social capital, promote social cohesion, nurture synergies and cooperation as well as increase capacities for local action against poverty and social exclusion. About 10 administrative/ technical staff and at least 20 construction workers are directly assisted by way of employment. This is an excellent example of community building through non-traditional housing finance arrangements through the Bank that may have a direct impact or influence in innovative housing finance in the country.