Economic Empowerment

Reaching out to change lives

 

Inspired by the initiatives of its portfolio companies like Maynilad, Manila North Tollways Corporation (MNTC) and Meralco on promoting entrepreneurship and employability, MPIF has recently begun initiating a new program within the framework of Philippine Business for Social Progress (PBSP) through its FManPowerInfrastructure Cooperative Development ProjectF. This project, whose initial beneficiary is the community of Ana Maria, Quezon City, aims to assist at least 15 households to augment their income through the establishment of a manpower service business to be operated by their own cooperative.

This 18-month project will involve cooperative organizing, potential market identification, capability building and provision of tools and equipment to start the manpower business. MPIC employees will also be encouraged to actively participate in this project through coaching sessions on basic accounting, marketing or other business-related topics through PBSP’s Business Advisory Program.

In the last quarter of 2011, MPIF also awarded a grant to PBSP, in support of their “STEP UP” (Strategic Private Sector Partnerships for Urban Poverty Reduction Program) initiative, to organize a manpower group in Brgy. Calamansian, Caloocan City. To date, pre-organizational meetings have been conducted and the screening and skills profiling of the cooperative members are also being finalized.

This project aims to contribute to the Philippines’ wider scale “Millennium Development Goals”, particularly on the eradication of extreme poverty and hunger. Furthermore, it is also in line with MPIC’s core business and its mission to contribute to the economic development of the Philippines. On a broader scale, the communities surrounding the operations of MPIC’s portfolio companies are also benefitting from employment and training programs. Meralco trains nearby pools of hard hat workers for 24/7 maintenance work opportunities. MNTC offers many of the informal dwellers along its roads with contractual projects. Maynilad imparts skills to workers for its pipelining, improvements and maintenance initiatives. The hospitals group prioritizes hiring from those in their vicinities for their facilities expansion and support staffing. In essence, MPIC companies hope to become hubs of neighborhoods which could thrive on the twin approach of entrepreneurship and employability.