6 October 2020, Phnom Penh – The Philippine Embassy in Phnom Penh, Cambodia, partnered with the Commission on Filipinos Overseas (CFO) to conduct the two-part financial literacy training entitled “KAalamang PInansyal Tungo sa KAunlaran (KAPIT KA): Training for Overseas Filipinos in Cambodia.”

In her welcome remarks, Vice Consul Frances Cleofas highlighted the Embassy’s goal of empowering the Filipinos in Cambodia with the knowledge and skills in making informed decisions on managing finances and preparing for a comfortable retirement when they return to the Philippines someday. She mentioned the findings of the World Bank’s survey in 2015 where Filipino adults are only able to answer 3 out of 7 financial literacy-related questions correctly.

During the first session, the CFO trainors stated that 8 out of 10 Filipinos are unable to prepare for their retirement and are caught in a cycle of debt. In addition, 8 out of 10 Filipino households do not have any bank accounts. The KAPIT KA training for overseas Filipinos seeks to address these concerns, especially given the fact that most overseas Filipinos will return and retire to the Philippines one day.

Composed of two (2) sessions (on October 3 and 10), the first part focused on financial planning, budgeting, and saving. The second part will elaborate on investing and entrepreneurship. To enable a detailed discussion on this, the participants will be divided into two groups and attend one session, which will either be on October 17 or 24.

Those who are interested in attending the remaining two sessions may contact the Embassy at email address This email address is being protected from spambots. You need JavaScript enabled to view it. or mobile/Viber number (+855) 93 728 520.

Participants who completed all sessions will also receive a certificate from CFO afterwards. END