JP Morgan is funding community savings groups for families that were affected by Typhoon Haiyan. The project aims to strengthen the livelihoods and improve the economic security of poor communities by helping poor households’ smooth consumption (particularly in the event of financial shocks), increase their ability to accumulate cash and physical assets, and promote commercial income generation. These activities will bolster Plan’s already robust recovery and rehabilitation approach in typhoon-affected areas.
The project has three primary objectives:
- To increase household security through savings;
- To strengthen households’ financial capacities to utilize loans and savings for productive investments and developmental needs through economic and life skills training modules;
- To improve access of CSG members to basic social services through community networks and referrals.