‘Bayanihan’ yields P58.5-M savings
Jefferson Antiporda
The Manila Times
THE Bayanihan Program of the government has generated some P58.5 million in savings since it started its operations in February 2003.
The savings were realized by the 4,436 Bayanihan centers organized in 622 local governments throughout the country under the Bayanihan Savings Replication Project of the Department of the Interior and Local Government.
DILG Secretary Angelo Reyes said the project is being implemented by the Bureau of Local Government Development as part of the antipoverty program of the Arroyo administration.
Under the Bayanihan scheme, groups of 20 to 30 people in a community voluntarily contribute their individual savings to a common fund from which members may borrow in case of emergency, unexpected expenses or to finance small businesses.
The DILG is promoting the program for replication in barangays especially in urban areas where residents need loans for personal or business purposes.
“The program gives people the opportunity to find alternative means of livelihood and improve economic development at the grassroots level.”
DILG records showed that Region 4-A posted the biggest savings with P11,693,016.91, followed by Metro Manila with P9,627,484.34 while the Caraga region generated P9,440,313.23.
Other areas that recorded huge savings were Central Visayas with P5,020,140.07; Region 4-B, P4,464,954.50; Eastern Visayas, P3,005,590.76; and West2ern Mindanao, P2,876,931.87.
DILG records showed that Cagayan Valley had P2,140,861.15; Western Visayas with P1,806,546.05; Bicol region with P1,464,954.00; Central Luzon with P1,144,818.49; Central Visayas with P941,200.50; Ilocos with P725,961.63; the CAR with P630,011.97; Western Mindanao with P626,093.97 and Northern Mindanao with P201,513.44.
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