MANILA, Philippines - Global financial services firm JPMorgan Chase & Co. (JPMC), through its social responsibility arm JPMorgan Chase Foundation, works with various organizations to create pathways to opportunity for their beneficiaries by supporting economic growth, workforce readiness, and financial capability in communities around the globe.
In 2010, the banking giant’s Philippine office embarked on a community development project together with social development organization Bayan Academy to empower out-of-school youth in the marginalized community of Baseco.
Providing participants with training on commercial cooking, hairdressing and beauty care, the JPMC Entrepreneurship Education Program for Community Development targeted an initial 25 beneficiary families in 2010 from poverty-stricken areas in the National Capital Region and other high-need communities in Pampanga, Cavite, Palawan, Bacolod, Davao and Gen. Santos City.
The success of the pilot project prompted JPMC and Bayan Academy to boost the program and expand its reach for a fourth year. The target has grown to 500 beneficiary families this year.
Speaking in behalf of JPMC Philippines senior country officer Roberto Panlilio during graduation rites for training participants at the JPMC Building in Taguig City, head of communications Patricia Anne Javier-Gutierrez shared that the program has now served over 544 families from 2010 to 2014.
“That translates to over 2,700 direct individual beneficiaries. We have seen an increase in employment rate from 82 per cent from the first batch to 91 per cent for the fourth batch of graduates,” she said.
JPMC and Bayan Academy also partnered with Technical Education and Skills Development Authority (TESDA) to conduct JPMC-sponsored training programs.
“I’d like to congratulate JPMorgan and Bayan Academy for putting together this program that not only empowers our youth but also encourages our fellow Filipinos who are looking for a way to achieve their dreams,” said TESDA Director General Sec. Joel Villanueva, who graced the graduation as its keynote speaker.
“Not too long ago, a lot of people would think of technical-vocational [graduates] as second-class workers. Before, the only key to becoming successful in life was to be a college graduate, but I beg to disagree. There’s a choice for all of us and there’s a career track for the tech-voc sector,” he shared.
Gina Lopez, chairperson of the ABS-CBN Lingkod Kapamilya Foundation Inc. and vice-chairperson of Bayan Academy, also shared words of encouragement to the over 200 NCR-based new graduates.
“Each obstacle is there for you to get better and every situation in life is an opportunity to learn,” she admonished.
Lopez added that to ensure the placement of program graduates, Bayan Academy forms strategic partnerships with various companies including Reyes Haircutters and The Manila Catering.