20 August 2014- Ambassador Victoriano M. Lecaros launched the Embassy’s Financial Literacy Education campaign for 500 Filipinos in the Czech Republic on 16 August 2014, targeting newly-arrived Filipino workers of Teleplan, a computer after-sales company based in Prague, Czech Republic. More than 20 participants attended the Financial Literacy Seminar conducted by Consul and First Secretary Juan E. Dayang, Jr.
Ambassador Lecaros said that “financial literacy can be the first step out of poverty”. He added that the Financial Literacy Program of the Embassy has three main goals: First, to provide financial literacy education to Filipino community in Prague and particularly to newcomer population; Second, to evaluate the impact of the program; and Third, to evaluate the program and to report findings of the pre-test and post-test survey to guide migrant organizations in the development and evaluation of financial literacy activities.
Consul Dayang initiated the Embassy’s first Financial Literacy Program in 2013 in Prague with the Filipino-Czech Association (FCA). Dayang, an Masters of Business Administration (MBA) graduate, also started the first Financial Literacy Program of the Philippine Embassy in Seoul, South Korea in 2008 and evaluated the program with the Department of Political Administration, University of Oklahoma, Norman, USA. He received SunLife’s It’s Time Award Grand Prize and Wealth Wonder Award in 2011. In 2013, he received DEVEX’s 40 under 40 International Development Leaders Award for his financial literacy advocacy to migrant workers.
The Seminar included lecture on savings, investments, and risk management. “If there’s something I wish you to remember, it is this: save first before you spend”, Dayang said. He added that “OFWs, particularly Teleplan workers, who have a two-year fixed term, should focus on savings and investment and prepare themselves to return home and join their families”.
In cooperation with Teleplan Company, the Embassy will conduct two more seminars for newcomers on the 4th quarter of the 2014 with the entry of additional 40 Teleplan workers in September 2014.
Initial reaction from participants was positive. A participant commented that they wish to have more seminars including how to put up their own business. END
