Development financing sector: EuroCredit, South Cotabato Foundation

1
Group 1

• Development financing sector EuroCredit, South
  Cotabato Foundation
• Social enterprise sector IDEALS, Developers
  Foundation, Coalition of Social Development
  Organizations in South Cotabato, Buata Pinay
• Overseas Filipinos sector Atikha, Unlad Kabayan,
  Bukluran ng Marinong Pinoy/Maritime Forum,
  Institute for Migration and Development Issues

2
Bottlenecks

• Lack of awareness about overseas Filipinos and
  their issues (economic needs, psycho-social
  costs)
• Role of sectors like government and private
  sector for overseas Filipinos and their families
• Mindsets
• About OFs Madaming pera, walang problema
• Money being used by Pinoys abroad mindset to
  manage money well, to save

3
Framework

• PhilComDev as an intermediary to spread around
  existing social enterprises unto Ofs
• PhilComDev as a venue to articulate and act upon
  the relevance of both the economic and social
  consequences of migration
• A mini-OWWA?

4
Strategies

• Awareness raising
• Start how many of your clients have relatives
  abroad? Are OF families?
• Financial literacy
• Mechanism to promote social enterprises as viable
  investments with financial and social bottomlines
  for Ofs
• Efforts to address social costs of migration

5
Programs, Activities

• Awareness-raising activities both in the homeland
  and in the hostlands
• Data gathering about OF presence, especially in
  rural areas
• Leveling-off the initiatives of groups involved
  in overseas Filipinos, social enterprises and
  marrying related concerns
• Advocacy (e.g. CSR programs for OFs, roadshows,
  lobbying to OWWA for benefits)
• Role of youth (i.e. children of OFs)

6
Critical questions

• Is PhilComDev ready to be the due diligence agent
  and guarantor for its members if Overseas
  Filipinos will park their resources into social
  enterprises? Will clear and well-defined
  mechanisms be put in place to spell out financial
  and social bottomlines for these migrants?
• Will addressing the social costs of migration be
  given equal attention while Filipinos abroad are
  being lured for investments?

7
Framework