IRMA LAPITAN COSICO
CHIEF EXECUTIVE OFFICER

Vision
A global training centre that helps migrant
workers make their overseas work
experience more meaningful and
productive.
Mission
To change the mindset of migrant workers
and their families so that they become
entrepreneurial through back-to-back
coaching and training on financial literacy
and basic entrepreneurship.

Financial Inclusion Model
• Back-to-back training
• Reversed the traditional model of microfinance
 Training first before microfinancing
• A different MIS
• Crossborder microfinancing
• Partnerships with academe, government agencies, local
banks in Singapore and other countries

Financial Education (FinEd)
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•
•
•
•
5 Sundays, 3 batches a year
Learning materials co-developed with the
National University of Singapore (NUS)
Volunteer-trainers from Citi Asia Pacific
and NUS
Requirement to graduate: Submission of
5-year Financial Goals plan and passing
the Recital
Objective: To provide information on and
access to financial products and services;
financial understanding, competency and
responsibility

Basic Entrepreneurship (BE)
•
•
•
•
12 Sundays, 4 sections, average of 50
students per session
‘Social Entrepreneurship’ module
conducted at the National University of
Singapore
Requirement to graduate: Passing of
Business Plan Recital conducted with ASKI
Global panel
Objective: To acquire an entrepreneurial
mindset and start allocating funds for
productive activities

Training Program
No. of
Enrollees
No. of
Graduates
Notable Impacts
1
Financial Education
for Migrants
603
536
About 80 students have
established micro enterprise
business from their savings.
2 85% have become savers,
saving the most 20% of their
monthly salary.
3 More than 10 have invested in
financial instruments.
4 100% have started budgeting
and allocating funds between
savings, home consumption and
personal expenses.
ASIAONE News: 8 MARCH 2012

Training
Program
No. of
No. of
Enrollees Graduates
Notable
Impacts
1
Financial
Education
for Families
(Back-toBack)
Kenneth (8) and Bryan (7) Silvestre
with their bamboo coin banks.
-
353
Increased
awareness of
financial
products and
services among
family
members.
2 Developing
savings habit
among young
children.
After undergoing training on Financial Education in Singapore, OFW
Rosie Silvestre shared with her kids the importance of saving money.
Her kids were so inspired that they have used local materials to
develop their own coin banks. Indeed, “like mother, like sons.”

Training Program
Basic Entrepreneurship
No. of
Enrollees
874
No. of
Graduates
776
Notable Impacts
114 migrant workers have
accessed financial assistance
from MF partners in the
Philippines. Total portfolio of
Ps. 12.6M with a repayment
rate of 99%.
Partner MFIs:
ASKI Philippines:
Ps. 12,530,226.00
Enterprise Bank:
Ps. 100,000.00

Training Implementation

Training Implementation