Advisory BSP Memorandum No. M-2020-074. Read here.

DBP-DSWD alliance on livelihood assistance

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State-owned Development Bank of the Philippines (DBP) has forged a partnership with the Department of Social Welfare and Development (DSWD), which aims to promote financial literacy and improve access to credit of beneficiaries of DSWD’s Sustainable Livelihood Program (SLP). Under the partnership, DBP would develop customized financial products and services, promote financial literacy, and provide credit assistance for SLP associations in support of the National Government’s anti-poverty drive. A total of 438,788 households are seen to benefit from the partnership, which is on top of the 1.3 million households already being assisted by the DSWD.

Photo shows DSWD Secretary Rolando Joselito D. Bautista (third from left) and DBP President and Chief Executive Officer Emmanuel G. Herbosa (second from left) during the signing of the memorandum of understanding at the DSWD Head Office in Quezon City. Also present were (left) DBP Executive Vice President Jose Gabino L. Dimayuga and DSWD Assistant Secretary for Specialized Programs Rhea B. Peñaflor (right).

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