UA&P signed a Deed of Donation (DOD) last December 9, 2023 with ASA Philippines Foundation, represented by Mr. Kamrul H. Tarafder, its President and CEO. The DOD signing makes ASA Philippines Foundation a Gold Donor to the Dr. Placido L. Mapa, Jr. (PLM) Scholarship Endowment.
PLM grantees are given 100% coverage of tuition and miscellaneous fees, a monthly stipend of P8,000, an internet allowance of P1,000/month, a laptop, and one-on-one coaching with a member of the UA&P Board of Trustees (BOT). The PLM scholarship grant is open to all incoming college and junior college students with a high school average of at least 90%, possess exemplary leadership credentials and show potential to be trailblazers and catalysts for change in the community.
ASA Philippines Foundation
ASA Philippines was founded in 2004 by Ambassador Howard Q. Dee and Mr. Kamrul H. Tarafder along with pioneering trustees experienced in formal finance, microfinance, and development work. The foundation’s main objective is to assist the poor and improve their quality of life by means of microfinance and other social services such as medical missions, business development training and marketing support, out-of-school youth training, and scholarship programs, to name a few.
ASA Philippines shares with UA&P the same commitment to education. It provides tuition funding for out-of-school youth who wish to take vocational courses and skills training. It also gives scholarships to the children of their clients who wish to continue their education in college or university.
The foundation believes that microfinance is a tool that can be used to provide financial services which eventually generates self-employment, increases overall family income, and improves quality of life by integrating families into society.
The foundation solely caters to women clients, convinced that this practice minimizes the risk of delinquency since women are less likely to have vices and are more financially literate especially when it comes to household expenses.
Social Initiatives
MalASAkit Financing
MalASAkit Financing offers non-interest bearing loans to clients with a tenor of 12 months. This financing scheme has the objective of mitigating adverse effects of natural calamities and the COVID-19 pandemic on the livelihood of the clients. Last 2022, disbursements amounted to a total of Php 7.4 billion. This year, a minimum of Php 10 billion is expected to be extended.
Disaster Relief Assistance
The foundation offers assistance in the form of relief goods, cash assistance, and MalASAkit loans, to those affected by disasters. Last 2021, Super Typhoon Odette affected over 17% of the ASA’s clients. ASA’s assistance to the victims of the typhoon amounted to Php 175.4 million.
ASA in figures
As of November 2023, the foundation has over 1,701 branches nationwide in which 82 provinces are covered. There are over 12,319 staff catering to 2,210,176 clients. In terms of social impact, 82% of ASA Philippines’ borrowers increased their savings and assets; over 198,532 jobs were created; and 9,303 scholarships were awarded to clients’ children; their feeding program catered to 13,356 undernourished children; and 88% of the foundation’s borrowers sent their children aged 16 and above to school.
