Social enterprises get more help from BPI foundation

BPI Foundation, the social development arm of the Ayala Group’s Bank of the Philippine Islands (BPI), has renewed its support for social enterprises through fresh grants via its BPI Sinag program, which is now on its eighth year.

BPI Sinag, which was started in 2015 as a business challenge for social entrepreneurs, has since expanded to include mentorship and closer cooperation with other stakeholders such as investors and educators.

For 2022, BPI Foundation is committing cash grants worth P3 million. It earlier awarded over P20 million in cash grants and supported 238 social enterprises.

“Doing well by doing good as an economic and social imperative is more relevant now more than ever,” Owen Cammayo, executive director of BPI Foundation, said on Friday.

“This is the perfect time to increase our collective efforts to become more inclusive, responsible, and sustainable when doing business. This is the essence why we strongly support social enterprises,” he added.

The launch event on Friday also brought together a collection of previous Sinag “alumni”.

These were JT Solis of Mayani, Catherine Diquit of Likhang Maragondon, Cecille Virtucio of Batangas Egg Producers Cooperative and Lorielinda Bella Rago-Marte of Tagolwanen Women Weavers Association.

BPI Foundation’s main implementing partner was Bayan Academy. It also committed to continue partnerships with BPI’s microfinance arm, BPI BanKo, together with Ayala Land, Start Up Village and Villgro Philippines.