Helping people, particularly the marginalized and those with disabilities, stand on their own.
Thus, the goal of Maybank Foundation’s Reach Independence and Sustainable Entrepreneurship program, which was launched in the Philippines Wednesday.
Maybank Foundation chief executive officer Shahril Azuar Jimin, in a briefing at the sidelines of the pioneer training program in the country, said the program eyed to ensure financial inclusion among the marginalized sector.
”(This is aimed at) providing (the beneficiaries) equal playing field and opportunities,” he said.
About 70 percent of the program’s beneficiaries are people with disabilities while the remaining 30 percent belong to the marginalized sector such as single parents and battered women.
It involves a three-day entrepreneurship and financial training session and a six-month mentoring period to help beneficiaries with their skills and the development of their businesses.
Malaysia-headquartered Maybank Group first implemented RISE in Malaysia in 2014, where it posted a huge success.
Shahril said the top 40 percent of the initial participants in Malaysia registered a 411.7 percent increase in average income per individual, thus, the decision to implement it also in Indonesia and the Philippines.
He said Maybank Foundation has set a five-year implementation of the program in the region, with a two-year implementation set for the Philippines, which in turn was allocated with a PHP40 million fund.
He clarified that the program did not intend to give out loans to the beneficiaries but to skills and management training.