Raise Capital for Entrepreneurs in the Philippines

by Opportunity International
Jul 19, 2011

Savings Programs in the Philippines

Currently, millions of families in developing countries don’t have access to savings services because they don’t have the minimum deposit most commercial banks require (some two-thirds of the world’s adults still do not have a basic bank account). Their savings come in such small increments that most banks are not prepared to offer them an account. In addition, many people living in poverty don’t have or can’t afford documents such as birth certificates, which are needed to access traditional banking services.

Because savings is an economic necessity, people living in poverty must find other ways of keeping their money. Without many alternatives, some hide their money in hollowed out bamboo poles, in boxes under their beds, or in a hole in the ground. They also put their money into assets, such as livestock or pieces of jewellery. But assets offer little security as they are vulnerable to their environment–they can be stolen, deteriorate or be destroyed by natural disasters. People living in poverty need savings that are both safe and liquid, offering a safety net against crises such as floods.

Opportunity International offers savings products that enable people in poverty to securely deposit and save small amounts of money. Often without a minimum balance requirement, these savings accounts enable families to plan for unexpected expenses and can lessen the devastating impact of natural disasters.

With homes, families and livelihoods destroyed, survivors of the recent floods in the Philippines are faced with the overwhelming task of rebuilding their lives. Microfinance empowers families to recover from tragedy and reshape their futures.

To find out more about Opportunity International clients in the Philippines lke Arlene Santos who runs a spa go to http://www.opportunity.org/give/clients/1409.


About Project Reports

Project Reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.

If you donate to this project or have donated to this project, you will get an e-mail when this project posts a report. You can also subscribe for reports via e-mail without donating.

Get Reports via Email

We'll only email you new reports and updates about this project.

Organization Information

Opportunity International

Location: Chicago, IL - USA
Website: http:/​/​www.opportunity.org
Project Leader:
Ally Lynch
Oak Brook, IL United States

Funded Project!

Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.

Still want to help?

Support another project run by Opportunity International that needs your help, such as:

Find a Project

Learn more about GlobalGiving

Teenage Science Students
Vetting +
Due Diligence


Woman Holding a Gift Card
Gift Cards

Young Girl with a Bicycle

Sign up for the GlobalGiving Newsletter

WARNING: Javascript is currently disabled or is not available in your browser. GlobalGiving makes extensive use of Javascript and will not function properly with Javascript disabled. Please enable Javascript and refresh this page.