TESDA, LBP to give financial assistance to tech-voc graduates

February 10, 2019

The Technical Education and Skills Development Authority (TESDA) and Land Bank of the Philippines (LBP) have joined forces to provide financial aid through a credit facility to TESDA graduates that they may use for their pre-employment and livelihood needs.

This after TESDA Director General, Secretary Isidro S. Lapeña, and Alex V. Buenaventura, President and CEO of LBP, signed a Memorandum of Understanding (MOU) to develop a lending program for TESDA graduates.

The signing was held at the LBP Board Room at the Landbank Plaza in Malate, Manila last February 4, 2019 and was witnessed by Rebecca J. Calzado, TESDA Deputy Director General, and Ma. Celeste A. Burgos, LBP Senior Vice President.

Also present were Executive Director Luz Victoria G. Amponin of TESDA Partnerships and Linkages Office, Atty. Imelda Ong, TESDA Legal Division Head, and other officials of LBP.

This agreement comes after a series of meetings between TESDA and LBP with the objective of providing financial assistance to the technical vocational (tech-voc) graduates of TESDA for job searching and for starting their own business.

In this connection, TESDA and LBP agreed to collaborate and create a credit facility specifically for TESDA graduates through which they may avail of loans for their pre-employment needs and for starting their own livelihood ventures.

This is in line with the objective of Lapeña to implement TESDA scholarship programs as well as to give TVET graduates a better chance to find jobs and livelihood after undergoing training.

It is also aimed to help the government solve the problem of unemployment in the country, which, according to the record of Philippine Statistics Authority (PSA), peaked at 5.1% in October 2018.

“Ang Landbank ay nakahanda sa ating agreement to provide financing. Hindi lang livelihood kundi pre-employment financing. Gusto kong mag-participate sa pag-design ng friendly, accessible at sustainable na programa natin,” said Buenaventura in his message after signing the MOU.

Buenaventura also expressed gratitude to Lapeña for the continuous trust of the agency and for being partners though the different programs of TESDA to help its scholars.

Lapeña believes that the MOU will pave the way to his goal of helping tech-voc graduates to easily find jobs and livelihood after graduating.

“Kapag sinasabing TESDA, it’s about training. But ang binibigyan ko ng importansya dito, dapat after TESDA there should be employment and livelihood,” stated Lapeña.

He asserted his priority to help and to provide more training programs to the less privileged sector of society for them to have jobs and improve their lives.

Lapeña, on behalf of TESDA, also thanked Buenaventura for the ceaseless support of LBP to the agency’s programs.

The two parties have created a technical working committee that will be responsible for the study and creation of guidelines, procedures and responsibilities of both parties, and the effective implementation of the program.

The financial assistance program is expected to be implemented in March 2019.