CAGAYAN DE ORO CITY (PIA) -- The Department of Social Welfare and Development (DSWD), through the Pantawid Pamilyang Pilipino Program (4Ps) National Program Management Office, embarked on a groundbreaking initiative by piloting the implementation of a Digital Financial Literacy Program in Cagayan de Oro City on February 24.

4Ps integrates the comprehensive digital financial literacy curriculum into the monthly Family Development Sessions across all 80 Cagayan de Oro City barangays and later in other localities in the Northern Mindanao region, where internet services are readily available.

The 4Ps NPMO Family Development Division designed the digital literacy program to enhance the financial knowledge of 4Ps beneficiaries, paving the way for their eventual exit and graduation, thus fostering sustainable financial independence.

The program manual comprises four modules, covering essential topics such as understanding the value of cash grants, responsible budgeting, the importance of saving, insights into transaction accounts, and consumer protection policies for general goods and financial products.

Additionally, 4Ps City Links and Municipal Links will educate beneficiaries on opportunities for expanding livelihoods and gaining access to more advanced financial products and services.

Ramel F. Jamen, DSWD Field Office-10 regional director, emphasized the significance of the pilot implementation in fostering behavioral change among the beneficiaries.

"This is a crucial step towards the well-being of our community members, particularly as we approach the graduation of these beneficiaries," said Jamen.

As part of the Kilos Unlad Framework, the financial literacy initiative aligns with a social case management strategy aimed at helping households step out of poverty and achieve improved well-being through cooperation and support within seven years.

4Ps, enacted into law in April 2019, have become the national poverty reduction strategy, focusing on health, nutrition, and education for eligible poor households.

The program also incorporates psychosocial and psycho-educational components through family development sessions, leading beneficiaries towards enhanced and sustained well-being.

4Ps digital financial literacy partners include BPI Foundation, Ayala Foundation, LandBank, GCash, Maya, and the Local Government Unit of Cagayan de Oro City headed by Mayor Rolando Klarex Uy.

In November 2019, DSWD partnered with USAID to propel 4Ps beneficiaries towards financial inclusivity, aligning with the government's mandate to integrate low-income people into the country's economic system.

Currently, Northern Mindanao boasts more than 259,000 4Ps households benefiting from these impactful initiatives. (DSWD-10/PIA-10)