The Philippine Business for Social Progress (PBSP), the lead convenor for private participation in the UN’s millennium development goals (MDG), has committed a budget of P3.2 billion over the next four years.
In its 35th foundation day celebration yesterday, PBSP bared its accomplishments in 2005 with 260 projects implemented benefiting 88,570 households and P392.79 million in financial assistance.
It has generated P60.45 million in membership contributions and received P146.35 million in donations from donor agencies and corporate benefactors.
"PBSP has shown that it is possible for business competitors to come to the table and transcend individual interests to work on the urgent goal of alleviating the plight of the poor," said PBSP chairman Manuel Pangilinan.
Last year’s financial assistance comprised P29.85 million in financial advances, P106 million in development loans and P256.94 million in grants.
The major programs implemented in 2005 were in area resource management (ARM) with P106.42 million, education (P59.77 million), information technology (P33.89 million), water and health (P57 million), micro and small enterprises (P107.14 million), training and consulting (P8.84 million) and institutional support (P19.73 million).
"PBSP’s work with the poor have been driven by the tenacious involvement of the membership in every facet of its tasks. From identifying projects to monitoring, raising funds to ensuring their prudent use, from sustaining each one’s membership to recruiting new ones, the members continue to find excitement and enthusiasm in their assignments," said Pangilinan.
The area resource management remained PBSP’s flagship strategy for poverty reduction in cooperation with 100 partner organizations.
It has contributed to the income increases among 24,113 families with focused on three levels – core business, social investment and policy advocacy.
"We will continue to be critical of ourselves, evaluating constantly our efforts and pruning all those that distract us from being the ‘leader in business sector involvement in social development," Pangilinan added.
In 2005, PBSP has raised a total of P174.74 million in grants and contributions from corporations (P47.86 million), bilateral (P36.06 million), non-government organizations (P36.88 million), Philippine government (P1.48 million), multilateral agencies (P50.79 million and other entities (P1.687 million).
A total of 19 companies have been recruited last year, higher than the 2004’s recruits of 14 firms. (EHL)
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