OVERSEAS Workers’ Welfare Administration (OWWA) head Carmelita Dimzon yesterday encouraged overseas Filipino workers (OFWs) as direct beneficiaries to attend daily briefings on the loan program being held at OWWA and its regional offices.
The P2-billion reintegration loan program administered by the Department of Labor and Employment and OWWA is available to both active and former members of OWWA who want to start or expand their small and medium business projects, she said.
“By running their own enterprises, OFWs and their families would be able to control their own financial destinies. Projects could be about supplying LPG gas to neighborhood, building lodging rooms for rent, transporting passengers, expanding a gym, or opening a dental clinic or an internet café,” Dimzon explained.
For those interested, Dimzon said the hourly briefings at the OWWA-NCR office at the OWWA Center in Pasay start at 9 a.m. from Monday to Friday and that after each briefing, participants who want to start the loan application stage may fill up information sheets.
“The briefings serve the need of borrowers to know more about the terms of the loan program and because of its social impact context, this loan program has the lowest interest rates in the market at 7.5 percent per annum,” Dimzon said.
“It can be paid in five years, with a grace period of two years to enable the OFW-entrepreneur to focus on making his project work. During the grace period or start-up phase, the worker-entrepreneur will not be under intense pressure to meet the monthly amortizations,” she further explained.
It was learned that the comprehensive reintegration loan program was launched by President Aquino during the Migrant Workers’ Day last June 7, with the main objective of making OFWs and their families depend less on remittances as source of income and for Filipinos to develop and sustain local enterprises to stay home with their families and no longer leave for work abroad.
“This is an additional benefit of OWWA membership. To qualify for the soft terms of the loan, OWWA will issue certifications of their membership,” Dimzon said, adding that the government banks involved in the program have acceded to requests by DOLE to be flexible when they evaluate OFW loan applications. Itchie G. Cabayan
Published : Wednesday May 23, 2012 | Category : OFW | Views : 77
By : Itchie G. Cabayan
ALFREDO Salmos, the overseas Filipino worker (OFW) in Saudi Arabia who was electrocuted in 2010, is finally home. Manila International Airport Authority (MIAA) media affairs division head Ma. Connie Bungag said Salmos arrived from Jeddah 12:50 p.m. at the Ninoy Aquino International Airport Terminal 1. Salmos’ family expressed gratitude... Read more
Published : Thursday May 17, 2012 | Category : OFW | Views : 292
By : Jun Pisco
AN overseas Filipino worker in Saudi Arabia who was electrocuted in 2010 is set to come home in the next few weeks. Vice President Jejomar C. Binay said Alfredo Salmos suffered severe injuries and was unable to work since the accident. “I am pleased to announce that our kababayan, Mr.... Read more
Published : Sunday May 06, 2012 | Category : OFW | Views : 547
MAKAKAUWI na rin ng bansa si Alfredo Salmos, 52, tubong-Nueva Ecija, na mistulang isang buhay na patay ngayon sa Saudi Arabia. Nalapnos ang kanyang katawan at nagdikit ang kanyang baba at leeg matapos makuryente sa isang aksidente habang nagtatrabaho bilang technician sa Jeddah. Puspusan ang tulong ng tanggapan ni Vice President... Read more
Published : Saturday May 05, 2012 | Category : OFW | Views : 548
FIFTY-FIVE stranded overseas Filipino workers (OFWs) in Papua New Guinea have been sent home, the Department of Foreign Affairs (DFA) said yesterday. In a report to the DFA, the Philippine Embassy in Port Moresby said the stranded OFWs were expected to arrive in Manila yesterday from Manus, Papua New Guinea. Philippine... Read more
Published : Thursday May 03, 2012 | Category : OFW | Views : 462
By : Joel dela Torre
THE Overseas Workers and Welfare Administration has turned on its social networking site to further monitor situations and working status of overseas Filipino workers. OWWA Advocacy and Social Marketing Division head Reynaldo Tayag said that they will open both their Twitter and Facebook accounts to have a better relationship with... Read more
