BSP, BDO Foundation launch Parañaque fisherfolk financial education program

PARAÑAQUE CITY, Philippines — The Bangko Sentral ng Pilipinas (BSP), the Parañaque City Government, and BDO Foundation have rolled out a financial education program designed to help fisherfolk and vendors manage savings and withstand income volatility.

The initiative, backed by the City Agricultural, Fisheries, and Aquatic Services Office, was formally launched at Parañaque City Hall with Mayor Edwin Olivarez, District 1 Representative Eric Olivarez, BSP officials, and BDO Foundation executives present.

For fishers like Jose Cabanza Jr. of Barangay La Huerta, whose mussel harvests are affected by poor water conditions, the program offers practical tools to stabilize household finances.

“Pabago-bago po ang kita…namamatay ang ibang tahong,” he said. (Our earnings are unpredictable…some of the mussels are dying).

BDO Foundation president Mario Deriquito highlighted the program’s “3 Ps”—partnership, practical knowledge, and preparedness—emphasizing that financial literacy builds resilience.

BSP Economic and Financial Learning Office director Marianne Santos praised the collaboration as part of the central bank’s whole-of-society approach to financial education.

Seafood vendor Mary Jane Gutierrez welcomed the initiative.

“Nag-iipon po kami mag-asawa pero gusto ko matutunan yung proper na pag-iipon sa bangko,” she said. (My husband and I are already saving, but I want to learn the proper way of saving in a bank.)

The program will deliver training modules and workshops to fisherfolk cooperatives and market vendors, aiming to strengthen savings habits and community resilience.