The Philippines, in southeast Asia, is made up of 7,107 islands.
21.6% of the population falls below the national poverty line.
In 2015, a family of five needed at least 6,329 PHP ($173 AUD) every month to meet basic food needs and at least 9,064 PHP ($247 AUD) every month to meet those and non-food needs. Three out of five families whose heads did not attend school are poor, resulted in a high unemployment rate,
Goal of the Project
Vineyard is currently transitioning from a service delivery to a community development approach to make a bigger impact. Critical approaches include financial literacy for families and Community Managed Savings and Credit Association (COMSCA). COMSCA’s primary purpose is to provide simple savings and loan facilities in a community that does not have access to formal financial services. CoMSCA also creates local pools of capital, providing access to useful lump sums:
- To meet predictable expenses
- To reduce shocks to vulnerable livelihoods
- To facilitate household cash-flow management
- To make short-term investments in Income Generating Activities
Key outcomes will include:
- 630 Linked children provided with school assistance. Their academic performance and completion rates improve
- 45 parents or community volunteers are trained in order to promote the well-being of children
- 10 new COMSCA groups, with 250 members from Linked and non-Linked families are formed every year. Their access to financial education and savings is increased