BDO Foundation program for OFWs receives award anew

2020 October – BDO Foundation has received another prestigious award for the financial education program for overseas Filipino workers (OFWs), its partnership project with the Overseas Workers Welfare Administration (OWWA) and Bangko Sentral ng Pilipinas (BSP).


The corporate social responsibility arm of BDO Unibank was awarded by international non-governmental organization Enterprise Asia only a few weeks after the foundation was also recognized by Singapore-based finance publication Asian Banking & Finance for the same initiative.


Enterprise Asia officially conferred the award at the Asia Responsible Enterprise Awards 2020, a virtual event witnessed by thousands of viewers. Out of the more than 200 entries submitted from 19 countries this year, the financial education program was among 81 honored at the online ceremony.


BDO Foundation was one of only two Philippine organizations recognized as other awardees were based in China, Indonesia, Malaysia, Singapore, Taiwan, Thailand and Vietnam, among other countries.


In an interview with the award-giving body, BDO Foundation president Mario Deriquito acknowledged the close collaboration of the foundation, OWWA and BSP, saying, “The financial education program for OFWs was made possible by partners working together towards a common goal. Together, we developed financial literacy materials for OFWs and their families. We organized training sessions for more than 500 subject matter experts tasked to train OFWs on topics like saving, financial planning, debt management, investing, entrepreneurship and avoiding scams.”


“Guided by a shared vision to promote financial inclusion, we successfully institutionalized financial education in the training initiatives of OWWA. We hope we are able to support migrant workers, their families and ultimately the economy especially now that the country is coping with the effects of COVID-19,” Deriquito remarked.


Through the ongoing initiative, BDO Foundation helps beneficiaries achieve financial independence so they can come back to the country and contribute more productively to the Philippine economy. The financial education program benefits an estimated 2.3 million OFWs in the short term and more than 10 million migrant workers in the long term. The foundation contributes to OWWA's capacity to provide financial education for OFWs as it supports the implementation of BSP's National Strategy for Financial Inclusion.


BDO Foundation has received recognition from Enterprise Asia for four consecutive years now. Through the Asia Responsible Enterprise Awards, Enterprise Asia aims to champion sustainable and socially responsible business practices.


Promoting Financial Inclusion. In a virtual presentation of the Asia Responsible Enterprise Awards 2020, Enterprise Asia honored the financial education program for OFWs, the tripartite initiative of BDO Foundation, OWWA and BSP.


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