OVP linking communities to microfinance institutions

The Office of the Vice President (OVP) on Wednesday disclosed that it will work with microfinance institutions (MFIs) to assist poor communities improve and sustain their livelihood given the soaring prices of basic goods and other services.

This came after OVP officials held a meeting with various MFIs this week on possible partnerships concerning their flagship anti-poverty program, ‘Angat Buhay’.

Under the partnership, OVP said it hopes to help cushion the impact of rising prices on ‘Angat Buhay’ communities and individual beneficiaries by “giving them direct links to markets.”

OVP added that with the help of MFIs, they will also be introduced to “ways on how to sustain their businesses.”

Angat Buhay works by linking private companies and organizations with local government units and communities to give them various types of assistance they need.

The program reached more than 155,000 Filipino families in 176 poor communities around the country as of June 30. R252-million

They received some worth of assistance.

The OVP is looking into linking beneficiaries of its livelihood grants to the MFIs involved as well as to expand the services of these organizations.

For their part, the MFIs expressed willingness to partner with OVP for such endeavor.

They noted that “small enterprises need to be versed in new technologies as well as on faster ways to produce and sell their goods.”

Angat Buhay, which was launched in October 2016, focuses on six key advocacy areas, namely: public education, rural development, food security and nutrition, women empowerment, universal healthcare, and housing and resettlement.