Poverty alleviation through a micro-finance program the De La Salle University - Dasmarinas experience

Abstract

One of the major issues that the development process seeks to address is the lack of income that would support a decent life. Creation of jobs or finding alternative sources for livelihood still poses so much challenge to different social institutions. The poor and the marginalized sectors suffer more from this societal concern such that the inability to access opportunities or venues for a more humane and sustainable source of livelihood further deepens the negative impact of unequal distribution of wealth. Recognizing that service is one of its functions as an academic institution, De La Salle University - Dasmariñas embarked on a poverty alleviation effort through a micro-finance program with the hope of addressing poverty in its community. This case presentation will highlight how an academic institution was able to successfully implement a concrete poverty alleviation program and eventually contribute to the economic development of families in an urban poor community in the Philippines. It also presents how a University can truly effect change beyond its usual mandate of providing education through the formal setting, and successfully embark on a real community development initiative by employing volunteerism, networking and other creative resource generation activities. Because of this, the program has now evolved into a Micro-finance Non Government Organization, being able to entirely sustain its operation. The success stories of its partner beneficiaries highlight the effectiveness of the program in realizing empowerment and participation through self propelled change process. Finally, the paper highlights the unique feature of the successful micro-finance program which was implemented and sustained by a community engaged university.